Many people are familiar with economic theories but may not know that economics is crucial in solving real-world issues. Those who study economics open the door to careers where they take on issues such as poverty, inequality, unemployment, environmental sustainability, and healthcare.
Because of the transferable nature of their skills, economists advise leaders at both businesses and public agencies on how to best allocate resources to produce desired results. They use their expertise in banking, budget analysis, market research, and risk analysis.
For people who aspire to a career in an economics-related field, earning a Bachelor of Science in Business Administration with a concentration in economics (BSBA economics) provides the knowledge and skills needed to achieve their career goals.
Why Earn a Degree in Economics?
Earning a BSBA in economics degree is an attractive option for various reasons. One of the most compelling is the far reach of economics, which focuses on how societies allocate resources and make decisions. Economics is a field of study with significant implications for people, businesses, governments, and global markets.
It also opens the door to many career pathways, including finance, consulting, government, research, and academia. The analytical and problem-solving skills gained through an economics education are highly transferable and in demand across many industries.
The work itself goes to the heart of what drives business and public policy around the world. Economics provides a framework for understanding complex real-world issues like unemployment, inflation, poverty, income inequality, environmental sustainability, and globalization. Graduates from BSBA in economics programs are equipped to analyze and offer insights into these issues, making meaningful contributions to policy-making and societal well-being.
As noted by Forbes, economics offers “a rich body of knowledge that can aid in business decisions.” That includes understanding the sensitivity of different industries to business cycles and which ones rebound better after a recession.
“Business leaders would do well to study past cycles in their industries, looking at the degree of cyclicality and timing of sales increases and declines,” according to Forbes. Economics plays a significant role in passing on that knowledge.
Potential Careers With a BSBA Economics Degree
Earning a BSBA in economics opens the door to diverse career opportunities. The combination of business knowledge and economic principles equips graduates with valuable skills.
One of the most popular careers is financial analysis, which involves assessing investment opportunities, analyzing market trends, and providing financial recommendations to businesses and individuals. They work in fields like investment banking, asset management, and corporate finance.
Another popular position is data analyst (or business analyst). In this position, economics graduates derive insights and make informed business decisions through information extracted from data collection. They work with data related to sales, customer behavior, market trends, and more, thus helping organizations improve their strategies and operations.
Economics graduates also work as market research analysts, gathering and interpreting data about consumer preferences, market trends, and competitive landscapes. They provide businesses with valuable insights that guide product development, marketing strategies, and customer targeting.
Another popular career is as a financial planner who helps individuals and families create comprehensive financial plans. Economics graduates can also focus on risk analysis, which involves concentrating on the potential risks and uncertainties that can impact a business’s operations or investments.
Some economics graduates also work as management consultants, policy analysts, and economics analysts. This is often a career path for those who earn a Master of Business Administration.
What You Learn in a BSBA Economics Program
In the Touro University Worldwide BSBA in economics program, students learn from experienced faculty how to examine resource allocation, identify and evaluate risks, and develop successful economic strategies using real-world cases. The knowledge they learn applies to governments, corporations, and healthcare settings. Students also learn how microeconomics affects businesses, communities, and individuals.
At TUW, all BSBA program students learn foundational management concepts. They also develop expertise in organizing, motivating, and leading individuals in diverse public and private business enterprises. The online program allows professionals already in the workforce to earn their degrees while maintaining their current jobs.
The program aims to prepare graduates with essential business and management skills that allow them to serve society in entry and mid-level management and leadership positions.
The BSBA core curriculum includes courses that provide students with a well-rounded education. These courses include Business Writing, Management Theory, Management Ethics, Business Statistics, Principles of Marketing, Organizational Behavior, International Management and Strategic Management.