2015 2 Column Inner

Economics

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Economics is a very broad field of study. There are two major fields within economics, that is, Microeconomics, which focuses on the behaviors and decisions of an individual, company, government or any organization about the allocation and distribution of available resources. Whereas, Macroeconomics, is the study of the national economy as whole, for example, not just one company but an entire industry.

A major part of studying economics is making viable decisions based on the data that is available to us. Many a times people confuse economics with only money and the stock market but it also involves topics like banking, investment, health, wealth, and finance.

Applied economics is another area of study within economics that focuses on using the theories of economists to make predictions of how the market and people will behave. This area of study is also known as Econometrics. Econometrics is the quantitative part of economics that uses data to make statistical decisions about public and private issues. Other upcoming areas within the field of economics are: international economics, labor economics, monetary economics, economic development and business economics.

Economics is very broad and therefore it gives us an opportunity to pursue careers in many fields such as law, finance, healthcare, government, non-profit organizations, entrepreneurship, and more.

Taking entrepreneurship courses will help students majoring in economics in many ways. Most importantly, entrepreneurship courses focuses on the start of new ventures, which greatly impacts the business industry. New businesses offer fresh goods and services to the consumers creating more employment, which affects an economy as a whole. It helps generates new wealth, and increases the development opportunity of existing businesses. Along with creating wealth for the economy, entrepreneurship also helps create a social change in a way that provides an improved quality of life. The balance between entrepreneurship and economics plays a vital role for policy makers, business owners, government, institutes, charities, banks and more. It is important to acquire knowledge in both fields for a positive effect on society and the economy.

Careers
As an economics student that studies entrepreneurship you can pursue careers:

a. As a business analyst to help with the business processes, model, technology, and systems
b. As a consultant for a startup, small business, or large corporation
c. As a budget analyst for a startup, small business, or large corporation
d. Working as a statistician to forecast and predict future sales and market for a startup, small business, or large corporation
e. Starting your own venture in economics

 

Click here to apply to the entrepreneurship minor.

Address questions to Professor Thomas Dalziel ("Dr. D") or an academic program advisor in the Undergraduate Programs Office, as needed. We're here to help you!