Economics is the science of making choices in allocating scarce resources for consumption, production, and distribution of goods and services. It endeavors to rationally understand behaviors of decision-makers and how these behaviors can be changed. Decision-makers are called upon to make these choices within various institutional settings such as households, firms, financial institutions, and governments. Economics emphasizes the use of problem-solving skills and applies quantitative methods of analysis to investigate choices-constrained maximization to satisfy human needs. It provides the skills to assess market fluctuations by identifying correlative factors and determine their impacts on various economic sectors.
Careers in Economics span a broad range of sectors such as financial, environmental, political, education, and research. Graduates in Economics are sought by financial institutions, insurance companies, international businesses, and non-business organizations and governments. Many graduates elect to pursue graduate education in order to improve their knowledge and skill to perform complex economic analyses and provide information necessary to formulate business strategies and develop public policies. The BBA in Economics complements other business concentrations and related social sciences to provide a strong undergraduate foundation for graduate studies in economics and other related disciplines.
In addition to the BBA learning outcomes, upon completion of the BBA in Economics, students will be able to:
- Attain a broad understanding of the core economic functions at micro and macro levels
- Demonstrate ability to characterize problems, recognize role of assumptions and apply analytical skills to solve business and economic problems
- Utilize information technology in data analysis in support of decisions
- Recognize ethical dimensions and social responsibility in economic decision-making
- Use written and oral presentations to communicate interpretation of statistical measures to problems in economics
- Work across disciplinary teams to solve complex business and economic problems