Business Economics

What Is Business Economics ?

Business economics combines the benefits of a broad-based liberal arts education with the practical training of a business core. Students in the program study both economics and business, providing a strong theoretical and practical combination. Traditional economics courses blend with business courses in areas such as accounting, finance, management and marketing. The economics components in the business economics major give students an edge over those students majoring in traditional business areas. It is suited for students who would like to work for the business sectors or pursue graduate studies in business administration.

Success Factors

Business economics majors typically possess (or are willing to develop) the strong analytical skills necessary for interpreting and evaluating arguments. Most like to read and are successful when asked to work independently. Business economics students also enjoy vigorous in-class discussions and like to apply their learning to real-world problems as well as to theoretical concerns. Consequently, they enjoy researching and debating different points of view on wide-ranging issues involving public affairs.

Career Possibilities

Many students choose to further their studies in graduate school, especially in business school and law school. Career possibilities for students who graduate with a major in business economics include:

• Entry-level positions in line management
• Staff positions in fields such as operations research; labor and employment relations; sales and marketing; and banking and finance.
• Foreign service employee
• Public utility corporation worker

Additional career options are listed on the Career Development Center's Web site. 

Major Details

Business economics at the UC McMicken College of Arts and Sciences (A&S) provides a broad-based level of learning experiences for students contemplating a career in business. Students are exposed to the basic areas of business such as accounting and statistics, and concentrate in one of the traditional areas of business (marketing, finance, etc.) or a newer field, such as international business or information technology. The economics core of the major provides students with a solid analytical background and the choice of selective applied areas of economics (international, monetary, etc.). The business economics major is best suited for the student desiring to work in the more analytical areas of business.

McMicken College's flexible degree requirements allow for and highly encourage students to pursue multiple areas of study. Free electives allow for enough credits for students to pursue a minor, certificate program or even complete a second major. Some of the most common pairings are listed below.

• any language
• area studies program 
• political science 
• any business program 

Minor Details

Curriculum

This curriculum information is intended as a general information guide for students considering enrollment in this major. These online tools are designed to assist you, but are not a substitute for planning with an academic or faculty advisor.

If you are currently enrolled at UC, you can audit your degree online. If you are considering transferring to this major from another school use the course applicability system (CAS) to see how credits you have earned will apply to this major at UC. For course descriptions by college, click here.

Recommendations for the first and second years:
Business Economics majors should complete these courses first.

• 15ECON101, Introductory Microeconomics
• 15ECON102, Introductory Macroeconomics
• 15ENGL101-102-289, English Composition
• 15MATH224, Foundations of Applied Calculus (or substitution or waiver)
• 15MATH226-227 Applied Calculus I & II (should be taken prior or simultaneously to required core courses in economics.
• 22ACCT281, Introduction to Financial Accounting*
• 22ACCT282, Introduction to Managerial Accounting*
• 22BLAW280, Legal Environment of Business

*Failure to successfully complete any one of these courses will prevent the student from enrolling in junior/senior level College of Business courses.

Students with limited computer skills are strongly urged to take a course to remedy this deficiency. Completion of one of the following courses is suggested:

College of Applied Sciences:
32IET121, Microcomputer Applications I
32IT191, Introduction to Microcomputers I

College of Business:
22IS280, Computer Problem Solving for Business

* Need to fulfill A&S college requirements as outlined in the A&S checklist. Approved course lists are also available at the A&S Office of Undergraduate Student Affairs and Advising (102 McMicken Hall).

** 12 credit hours upper-division business courses (at least 9 hrs in one concentration).

*** Required economics field courses: 12 credits, to be completed with a field-courses average of "C" or better.

Major Requirements
Fifty-six upper-division credits are required for the economics major, distributed as follows: 

A. Core Courses (23 credit hours)

• Each course must be completed with a grade of "C" or better.
• All courses should be taken reasonably early in your major program (except capstone).

15ECON320   Statistics for Economists; 4 cr.
15ECON321   Introduction to Applied Econometrics; 4 cr.
15ECON341   Microeconomic Theory I; 4 cr.
15ECON342   Microeconomic Theory II; 4 cr.
15ECON372   Macroeconomic Theory; 4 cr.
15ECON599   Economics Capstone; 3 cr.

B. Economics Field Courses (12 credit hours) 

• The average across all field courses must be a "C" or better.
• Each student must take two courses in at least two fields.
• Each of the area courses is a three-credit hour course.
• Prerequisites for all required field courses, unless stated otherwise: 15-ECON-320, 15-ECON-342.

Labor Economics
15ECON557     Economics of Work and Family; 3 cr.
15ECON558     Labor Market Analysis; 3 cr.
15ECON559     Labor Market issues; 3 cr.
15ECON508     Economic Theory of Population; 3 cr.

International Economics
15ECON551     Open Economy Macroeconomics; 3 cr.
15ECON552     International Trade Theory; 3 cr.
15ECON575     Economic Development; 3 cr.

Industrial Organization
15ECON510     Strategic Thinking; 3 cr.
15ECON565     Industrial Organization; 3 cr.
15ECON569     Antitrust Policy and Trade Regulation; 3 cr.
15ECON578     Law and Economics; 3 cr.

Public Economics
15ECON482     Public Economics: Expenditures; 3 cr.
15ECON483     Public Economics: Taxation; 3 cr.
15ECON567     Politics and Economics; 3 cr.

Macro and Monetary Economics
15ECON371     Money and Banking; 3 cr.
15ECON551     Open Economy Macroeconomics; 3 cr.
15ECON571     Stabilization Policy; 3 cr.

Quantitative Economics
15ECON510     Strategic Thinking; 3 cr.
15ECON521     Applied Econometrics II; 3 cr.    

Urban/Regional Economics
15ECON570     Regional Economics; 3 cr.
15ECON506     Urban Economic Problems; 3 cr.

C. College of Business Courses (12 credit hours)

• All courses must have a course number of 300 - 599.
• Of the 12 credit hours, at least eight credits of these upper-division courses must be taken in one of the following areas:

Accounting concentration (22ACCT)
Finance concentration (22FIN)
Information Systems concentration (22IS)
International Business (22INTB)
Management concentration (22MGMT)
Marketing concentration (22MKTG)
Operations Management (22OM)
Quantitative Analysis concentration (22QA)
Real Estate concentration (22RE)

D. Major Electives (9 credit hours)

In addition to the 23 core credits, the 12 field credits and the 12 business school credits, business economics majors need another nine credit hours of electives to satisfy the 56-hour requirement. Students can satisfy the remaining nine hours in four ways:

• Take additional courses from any of the listed fields.
• Take any other upper-level course offered by the department, including Honors Seminar (15ECON431-432) and Special Problems (15ECON689).
• Take a maximum of six credit hours of the Teaching Assistant Practicum (15ECON422).
• Complete a maximum of six credit hours in the Internship Program (15ECON498).

Special Opportunities

Special Programs

The Undergraduate Economics Society provides an excellent opportunity for students to enhance their experience at the university. Undergraduate economics and business economics majors are afforded an ideal setting to develop strong interpersonal and organizational skills, as well as long-lasting friendships.

In the past, the society has organized trips off campus, including tours of Chicago, New York, San Francisco and Washington, D.C. These trips have been sponsored by the Hewett-Kautz Fund. In addition, it has been a tradition for the society to host a pizza registration party each quarter, where students may enjoy free food while socializing with friends and faculty. The society, in conjunction with the department, has scheduled guest speakers and career development and placement seminars intended to assist and advise students on career choices. Meetings are held for its members and new faces are always welcome!

Admission Requirements

Admission criteria for this program vary based on the relative strength of test scores, class rank and GPA. Please see the Freshman Class Profile for this major in the Quick Facts sidebar on this page for the range of academic credentials typically accepted into this program. Test scores in the lower range may be acceptable with higher class rank and/or GPA.

Freshmen applying to this program should also have completed the following state of Ohio articulation requirements with no more than two units missing:

• English (4 units)*
• College-preparatory mathematics (3 units)*
• Science (2 units)
• Social science (2 units)
• Foreign language (2 units)*
• Fine arts (1 unit)
• Additional college-prep subjects (2 units)

*McMicken College of Arts & Sciences does not allow units missing from these areas.

Transfer Requirements

Applicants to A&S whose most recent enrollment was not in any of the UC colleges must apply through the Office of Admissions. Applicants in this category must submit transcripts for all secondary school and college-level work. A cumulative GPA of 2.0 for all college-level work is required for admission consideration. Admission to A&S is generally available for any off-campus applicants who have received an associate degree from an accredited college or university and whose cumulative GPA is 2.0 or higher.

Although midyear off-campus transfer students are not able to participate in early registration in the quarter prior to their enrollment, they are included in the summer registration period prior to their fall quarter enrollment.

Changing Major Requirements

Applicants to A&S whose most recent enrollment was as a degree-seeking student in one of UC’s other colleges can apply directly to the A&S college office. Admission to A&S is generally available for any on-campus students who have:

• at least a 2.0 GPA in all college-level courses (both at UC and at other institutions),
• successfully completed two quarters of English Composition or its equivalent and
• gained credit for a college-level mathematics course.

Further details on individual programs are available online or in the A&S Office of Undergraduate Student Affairs and Advising (102 McMicken Hall).

Graduation Requirements

In addition to meeting the university's General Education requirements, the requirements listed in the McMicken College Core Requirements are common to all potential graduates of the college, whether they are pursuing the bachelor of arts, bachelor of science or bachelor of interdisciplinary studies degree.

Application Deadlines

UC operates on a quarter system, with 10-week grading periods beginning in late September, early January, late March and mid-June. While midyear admission is possible, fall quarter is generally the best time to enter the college, since many course sequences begin in that quarter. Applicants to the UC McMicken College of Arts and Sciences who are enrolled or who were previously enrolled as degree-seeking students in A&S or in other UC colleges should apply for admission directly to A&S (in McMicken 102). All other applicants who wish to earn an undergraduate degree from A&S should apply through the Office of Admissions (3rd Floor, University Pavilion).