Better Thinking and Managing Skills
The study of economics provides a set of tools that help better equip individuals and managers of firms to make high-level decisions in our global world of business and in the world in general. Economics develops the capacity to think analytically and critically. Business economics will help the student develop an understanding that is required to maximize the performance of firms and managers in a world increasingly dominated by trade and exchange. It allows an understanding of how changes outside the firm will impact the business environment of the firm. It analyzes both rational and irrational behavior. These acquired skills are invaluable for success in today’s business world.
A degree in economics is extremely useful even if you do not intend to become an economist. It is numerate and theoretical degree, and signals to employers that you can handle figures and you have an analytical mind.”
Better Job Prospects
Historical data shows that graduates of business economics programs may expect to earn higher levels of income in comparison to students who graduate from other fields and majors. In a 2003 study (published in Economic Inquiry).
More recently, the Wall Street Journal published data from a large-scale study conducted by “PayScale” on starting and mid-career salaries of undergraduate majors and determined that business economics majors were far ahead of the pack. Graduating economics majors do very well entering the job market, with median salaries above those of finance, information and technology management, and accounting majors. Their salary levels also progress more rapidly than those in other majors, especially those at the top of their cohort.
Develop your capacity to think analytically and critically.
The Business Economics Concentration requires 15 semester credit hours of Core Courses and 9 semester credit hours of Electives, in addition to the Bachelor’s in Business Administration Core Requirements. Please see the UT Dallas Graduate Catalog for the most updated curriculum details.View Catalog
Peter Lewin, PhD
University of Chicago, Economics Directorplewin@utdallas.edu | (972) 883-2729 | JSOM 3.223
What is Economics? Economics is about choice and the impact of our choices on each other.
Business economics relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. The economic way of thinking can help us make better choices especially in business situations. And economics is the basis of many related business fields like finance, accounting, marketing and organizational behavior. Knowledge and incentives drive the world. Learning how is the subject of economics.
Email me any time of you would like to learn more or chat about the exciting world of economics.
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