Business Economics Career Brief

Overview

Economists study how scarce resources can be efficiently allocated to produce the maximum number of goods and services. Economists conduct research, collect and analyze data, monitor economic trends, and develop forecasts. They apply economic theory to endeavors such as banking, finance, manufacturing, education, law, international trade, labor, insurance, agriculture, health, criminal justice, energy, natural resources, and telecommunications.

The field of economics provides a framework for analyzing and solving problems that arise from scarcity. Public issues—inflation, unemployment, budget deficits, and environmental pollution, for example—as well as individual and business decision-making, are examples of the economist's work.

View the Department of Economics website for more information.


 

Degree Requirements

Includes: foundation courses required for Professional Admission*, general education requirements, professional core courses, free electives, and a set of Business Economics Courses.

Sample Economics Courses/Topics:

  • International Financial Management
  • Industrial Organization
  • Economics of Regulated Industries
  • Econometrics
  • Experimental Economics
  • Labor Economics
  • Monetary Economics
  • Public Sector Economics
  • International Trade Theory
  • Information Economics and the Internet
  • Law and Economics

*Students must achieve Professional Admission (a competitive and selective application process) to move from the pre-professional phase to the professional phase. 

**Check the Degree/Academic Progress Report (APRR's) for your specific academic program requirements per your catalog at http://catalog.arizona.edu.


 

Other Preparation

The college has a wide variety of professional fraternities, honoraries and student clubs. Student organizations offer: career information; networking opportunities with alumni, corporate representatives, faculty, and fellow students; social and professional activities; and provide leadership roles and skills building opportunities.

Student organizations for economics majors include the Economics Society.

Visit the FESO - Federation of Eller Student Organizations website for more information.


 

Additional Opportunities

  • Research projects in selected upper-division economics courses
  • Research assistantships on grants and other projects
  • The department's preceptorship program
  • Honors courses - The Economics Department offers more honors sections than any other UA department.

 

Career Opportunities

Given the analytical nature and diversity of the discipline, economics provides a solid background for many jobs and professions. The study of economics also offers excellent preparation for advanced education in business, law, economics, finance, public policy, international relations, and medicine.

Economists work in government, business, and education.

  • Government economists monitor and assess economic conditions and provide economic analysis to guide governmental programs and policies.
  • Business economists provide the analysis required to make optimal decisions in all major aspects of business activity.
  • Academic economists, in addition to teaching conduct research and may act as consultants to business and government agencies.

A bachelor's degree in economics is sufficient for many entry-level research, administrative, consulting and management trainee jobs. However, to work as an "economist" one generally has to have an advanced degree. Candidates for a graduate degree in economics should have a strong mathematics background with courses in differential, integral, and vector calculus, linear algebra, differential equations, statistics and econometrics. Graduate training is required for some positions and for more rapid advancement.

Since Finance is a sub-field of Economics many students pursue a career in finance. Opportunities include:

  • Corporate Financial Analyst
  • Financial Planner
  • Portfolio Manager
  • Security or Investment Analyst
  • Sales & Trading Analyst
  • Investment Banker
  • Insurance Underwriter
  • Insurance Agent
  • Real Estate Developer
  • Real Estate Broker

 

Employment Outlook

According to the Bureau of Labor Statistics, the demand for economists should grow by 6% from 2014 - 2024. Prospects improve for bachelor's degree recipients in economics who go on to earn advanced degrees: law or MBA, or Ph.D. in economics, for example. If you are planning to pursue an advanced degree in economics, it is recommended that you take as much advanced math as possible.


 

Salaries

Starting salaries vary by size and type of employer, location, and experience. 

  • Eller Business Economics graduate average offer: $53,692 (Eller Graduate Survey, Spring 2016)
  • National Economics graduate average salary offer: $54,991 (NACE Salary Survey, 2015)

 

Recruitment Opportunities

Economics graduates obtain jobs through various avenues, leading to placements with a wide range of firms and organizations. Recruitment opportunities include the annual Fall Eller Career Expo, and the spring Career Showcase coordinated by Eller College Student Council and Delta Sigma Pi.

A sample of employers that hired Eller Business Economics majors for full-time placement in Spring 2016 through the Eller Professional Development Center:

Amazon
Arizona Public Services 
ASU Preparatory Academy
Bank of America Merrill Lynch
Bloomberg
Brewster
Caesars Entertainment Corporation
Cyracom International
Discover Financial Services

Enterprise Holdings
FactSet
Fisher Investments
Foresters Financial
Mercer
United Parcel Service
Vanguard

 

For More Information

  • Undergraduate Programs Office
    Eller College of Management 
    McClelland Hall 204
    P. O. Box 210108 
    Tucson, AZ 85721-0108
    520-621-2505 
    http://ugrad.eller.arizona.edu/

Professional Associations


 

For additional information, please contact us.