Business Economics

Types of Degrees Business Economics Majors Are Getting

The following table lists how many business economics graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Bachelor’s Degree	4,653
Associate Degree	65
Undergraduate Certificate	64
Master’s Degree	56
Basic Certificate	25
Graduate Certificate	15
Doctor’s Degree	7

What Business Economics Majors Need to Know

People with careers related to business economics were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Business Economics Majors

This major prepares you for careers in which these knowledge areas are important:

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Business Economics Majors

business economics majors are found most commonly in careers in which the following skills are important:

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Speaking - Talking to others to convey information effectively.

Abilities for Business Economics Majors

As you progress with your business economics degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• 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.

What Can You Do With a Business Economics Major?

Below is a list of occupations associated with business economics:

Job Title	Job Growth Rate	Median Salary
Economics Professors	10.9%	$101,480
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340
Survey Researchers	2.1%	$57,700

Who Is Getting a Bachelor’s Degree in Business Economics?

This major tends to be male dominated. About 69% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of business economics majors is as follows:

Race/Ethnicity	Number of Grads
Asian	489
Black or African American	237
Hispanic or Latino	544
White	2,543
International Students	555
Other Races/Ethnicities	285

Geographic Diversity

Students from other countries are interested in Business Economics, too. About 11.9% of those with this major are international students.

Amount of Education Required for Careers Related to Business Economics

Some careers associated with business economics require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to business economics have obtained the following education levels.

Education Level	Percentage of Workers
Bachelor’s Degree	13.6%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	1.0%
Master’s Degree	26.1%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	5.5%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	1.0%
Doctoral Degree	52.3%
Post-Doctoral Training	2.0%

Online Business Economics Programs

The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	3	0
Certificate (2-4 Years)	0	0
Associate’s Degree	2	0
Bachelor’s Degree	7	2
Post-Baccalaureate	0	0
Master’s Degree	30	1
Post-Master’s	2	0
Doctor’s Degree (Research)	9	1
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020

More about our data sources and methodologies.