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Course: Business and Managerial Economics
How high can you price a car before it becomes too expensive to sell? How should you decide if restaurant managers can afford to offer their waiters a raise? How will companies that sell computers to businesses be affected if the government raises interest rates?
If you major in business and managerial economics, you’ll learn how to answer questions like these. You’ll combine business classes with advanced courses in economics and study the many factors that affect the buying and selling of goods and services.
Students of business and managerial economics learn how to use the concepts of economics to study businesses.
Did You Know?
If you choose this major, you’ll examine the way the government influences the economy by, for example, setting interests rates (the cost of borrowing money).
Are You Ready To...?
- Write a senior thesis on, for example, the effects of bank mergers on small business
- Use math to solve economic problem sets
- Apply theories you learn in class to real-life business situations
It Helps To Be...
Good at math and able to work as part of a team. You’ll be working with your peers on challenging group projects as part of your classes.
College Checklist
- Is the program offered through the school of business or the economics department?
- Is the school of business accredited by the Association to Advance Collegiate Schools of Business?
- When can you apply for admission to the program?
- How high does your GPA need to be for admission to the program?
Did You Know?
The International Association of Students in Economics and Business Management can help you intern in another country.
Course Spotlight
One of your first courses will be microeconomics, which focuses on supply and demand. While you’ve probably heard of the laws of supply and demand, you may wonder just what kind of laws they are. Are they more like the laws passed by Congress or the law of gravity?
The truth is, they fall somewhere in the middle: the laws of supply and demand concern the behavior of human beings. Although human behavior is less predictable than gravity, these laws are a good way of foreseeing what will happen when buyers meet sellers in the marketplace.