Business Economics: Career, Courses, And Universities

Are you someone who has an inherent talent for handling numbers? Do you feel excited thinking about a job that offers you managerial or entrepreneurial responsibilities? If you feel tickled by the prospect of going for a career that not only teaches you economic concepts but also allows you the liberty to solve business problems, then, a career in Business Economics is well-suited for you. In this blog, we will discuss the details pertaining to the course and its career prospects.

Business Economics: Overview 

A career in Business Economics pertains to the discipline that deals with the application aspect of economic theory in the facet of Business Management. The course deals with learning methods and techniques to make existing business models more effective and efficient. The aim of this discipline is to help decipher the relationship between Managerial Economics and the different interrelated fields. It would also help in formulating different business policies to maximize profit and minimize the risk and uncertainties in business. 

Types of Business Economics

Managerial Economics: Managerial economics is a branch of business economics that focuses on the microeconomic aspects that drive organisational decision-making processes. Corporations’ strategic decisions result in either a profit or a loss for the company. Managerial economic concepts are meant to influence and steer business strategy and decisions in the direction of the best possible results for a company.

Business Economics for Nonprofit Organisations: While the purpose of nonprofit and for-profit organisations may differ, both types of organisations perform comparable business responsibilities and require similar competence. Furthermore, in order to retain their viability as businesses, companies must try to reduce waste and maximise the total usefulness of their available resources.

Both nonprofit and for-profit organisations must keep the necessary capital to continue operating in the economy; this necessitates the application of many of the same concepts. All types of organisations, for example, engage in advertising, community service, or customer support and require leadership to make suitable strategic decisions.

Business Economics: Undergraduate Courses

If a career in Business Economics appeals to you, then following your passion must be your top priority. At the undergrad level, one can opt for an Economics major to learn basic concepts related to the field. Browse through the courses mentioned below to decide what you want:

• Bachelor of Science in Economics 
• Bachelor of Arts in Economics 
• Bachelor of Business Administration in Economics 
• Bachelor of Science in Economic Sciences 
• Bachelor of Science in Business Administration 
• Bachelor of Business Administration – International Business and Economics 
• Bachelor of Arts in Economics – Finance and Business Administration 
• Bachelor of Arts in Business Economics with Marketing 
• International Bachelor in Economics and Business Economics 

Postgraduate Courses

Another way to make a career in Business Economics is to pursue a related course at the postgraduate level. The list of courses mentioned below can help you build a career in the field by equipping you with essential skills: 

• Master of Science in Information Systems – Technology Innovation and Entrepreneurship 
• Master of Business Administration – Entrepreneurial Studies 
• Master of Science in Entrepreneurship 
• Master of Engineering Innovation and Entrepreneurship 
• Master of Business Administration – Technology, Commercialization, Innovation, and Entrepreneurship 
• Master of Commerce Economics 
• MSc in Economics Management 

Further, students who want to enter the research and development domain in this discipline can venture on a doctoral program for the same. You can either pursue a PhD in Business Economics or simply opt for PhD in Economics.

Also Read: How to Build a Career in Agricultural Economics  

Diploma or Certificate Programs: Business Economics 

You can also follow your economics frenzy with a diploma or certificate course to start a career in this field. You can consider the courses mentioned below:

• Graduate Certificate in Entrepreneurship Management 
• Certificate in Business Studies 
• Diploma in Business Management 
• Diploma in Economics and Commerce 

Top Universities

With the increase in demand for professionals who can analyze aspects related to business enterprises, a number of universities have now started offering many courses in this field. Given below is a comprehensive list of some of the institutes offering Business Economics degrees:

• Harvard University 
• York University 
• Ontario College
• Wright State University 
• Washington State University 
• State University of New Jersey 
• Stanford University 
• Baruch College 
• Greenwich School of Business and Finance 
• University of Cambridge 

Also Read: Ways to Make a Career in Financial Economics

Career Prospects

If you are considering pushing further to build a career in Business Economics, then, having an idea about the kind of setting that you would be stepping into becomes essential. So, in order to help you with that, we have created a list of jobs that are suitable to make a career in this field. As per the current trends, with a degree in this area, you would be working in Financial Institutions, Consulting Firms, Insurance Companies, Investment Banking, and Market Research Institutions. This must have given you a fair idea of the department you would be heading. Also, to help you with the kind of portfolios you would be offered, here is a list of job profiles you can work in after completing the degree program:

• Banker 
• Brand Strategist 
• Business Ethics Consultant 
• Corporate Manager 
• Entrepreneur 
• Financial Analyst 
• Risk Analyst 
• Venture Capitalist 
• Stock Broker 
• Business Analyst 
• Market Research Specialist 

FAQs

So, if you feel a career in Business Economics is an exciting venture, then, you must think about giving it a shot. And to check out whether you have an aptitude for it, you can contact our team of experts at Leverage Edu who can offer you solutions regarding getting admission into top universities around the globe.