Why add an economics minor to your business major?
Because economic analysis can be applied to problems and issues throughout the entire economy, an economics minor provides students with greater versatility for dealing with unexpected challenges. Most people will change jobs many times during their working careers, so those with a good understanding of economics may enjoy options that others lack.
The economics department awards at least two minor scholarships every year.
If you are planning to pursue an MBA, many universities require students to complete intermediate-level microeconomics and macroeconomics courses. Students who take ECO 365 (Intermediate Microeconomics) and ECO 385 (Intermediate Macroeconomics) may have fulfilled that requirement.
The economics minor adds a social science perspective to the business major’s outlook. Economics as a social science analyzes such issues as:
- Unemployment and inflation
- Economic growth, poverty and the distribution of income
- Decision making by firms with varying degrees of market power
- The social benefits and costs of government regulations
- The problems of underdeveloped countries
- Globalization, international trade and the international monetary system
It’s easy to add an economics minor
The College of Business (COB) requires its majors to take a minimum of two economics courses. One other required COB course applies toward an economics minor, while two more economics courses count toward COB’s globalization requirements. That totals 15 credit hours. Since an economics minor requires only 18 total hours, you may be closer to earning one than you realize. See below for more details.
It is recommended that all business majors complete at least 50 percent of their courses outside of COB; use that opportunity to earn an economics minor and give your career a boost.
Finally, you should be aware that it is not that difficult to do a double major in business and economics. With a little advance planning this can be done without increasing either the total credit hours or the time needed to graduate. See an advisor in the economics department for details.
Requirements for the economics minor
- ECO 155: Principles of Macroeconomics
- ECO 165: Principles of Microeconomics
- Twelve (12) additional hours of economics classes or nine (9) hours of economics classes plus an acceptable statistics course (which includes QBA 237).