Economics is the social science of allocating resources to provide goods and services. It describes how economic systems work and then uses that description to identify the scope of economic policies for improving efficiency in the distribution of income and wealth.
Economists derive policy not only in business, but also in politics, health, law education, religion, and many other fields. The Economics concentrations are an excellent preparation both for numerous non-academic careers and for graduate studies in various disciplines.
The major fields of business are all applied Economics. For example, the field of Marketing uses the economic theory of markets to identify more effective ways to sell goods and services. The study of law and politics aims to assure that the interaction of politics and the economy allows the economy to function well. Management Science uses economic policy analysis to create better forecasts and more efficient systems of production and operations.
Because Economics is the basis of many professions, a degree in this field provides a valuable credential for entering almost any career.
Professionals with an BBA in Economics have a wide variety of career paths from which to choose. Here are just a few:
Mathematical Reasoning – The ability to choose the right mathematical methods or formulas to solve a problem.
Oral Comprehension – The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension – The ability to read and understand information and ideas presented in writing.
Fluency of Ideas – The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
Problem Sensitivity – The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Inductive Reasoning – The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Deductive Reasoning – The ability to apply general rules to specific problems to produce answers that make sense.
Below are small descriptions of daily work activities included in some of the careers listed above:
The BBA in Economics offers four distinct tracks, each designed to provide students a specialized degree.
Economics provides the guiding principles for most business disciplines, and so students of Business Economics prepare themselves to follow a wide variety of career paths. Economic analysts are employed by departments of marketing, accounting, finance, human resources, and others.
Financial economists help firms evaluate investment opportunities and raise funds for operational requirements or expansion. They track and price risks inherent in the firms' activities. Financial economists work in banks as personal financial advisers and wealth managers. A financial economist with a Ph.D., or with an M.B.A. and significant experience, may serve as a teacher and researcher in academic institutions.
Students of International Economics prepare to work in companies that conduct business in other countries, serving as analysts of international markets, currency exchange, tariffs, and other international issues. International economists pursue careers in government, international management, finance and consultation, and journalism.
The political economy concentration aims to develop theoretical and empirical understanding of the connections between economics and politics. Students majoring in political science gain an appreciation of the role of economic forces in politics. Economics majors learn how politics influence economic behavior in the real world. Students choosing a concentration in political economy will be especially well prepared for graduate study in economics, political science, or business, and for both academic and non-academic careers in policy analysis, business administration, law, government relations, and other fields.
Business programs in the H-E-B School of Business and Administration are accredited by The Accreditation Council for Business Schools and Programs. The University of the Incarnate Word is accredited by the Southern Association of Colleges and Schools Commission on Colleges, 1866 Southern Lane, Decatur, Georgia 30033-4097, telephone 404-679-4500, Web site: www.sacscoc.org.