Business economics is playing an increasingly important role in managerial decision making in the United States and in international settings. Consequently, job opportunities have expanded. Firms are particularly interested in the fields of policy analysis, applied economics, and forecasting. Enterprises have also become increasingly influenced by governmental rules, regulations, and policies. Specifically regulated industries, such as public utilities, have a need for individuals qualified to deal with the economic and administrative problems that they encounter as they face increased competition and government scrutiny. The undergraduate majors in business economics and public policy provide students with training in the application of micro- and macroeconomics to problems of business decision making, the effect of governmental policies on the business environment, and forecasting techniques.

The department offers two majors: Economic Consulting and Public Policy Analysis.

Economic Consulting Major

The undergraduate major in Economic Consulting provides students with training in the application of micro- and macroeconomics to problems of business decision making and in forecasting techniques. This major intends to serve the in-house business economist market and the more competitive consulting market, as well as the financial industry. Most business economists are employed by companies in the fields of banking and finance, manufacturing, transportation, utilities, insurance, real estate, mining, and retailing. A growing number of consulting companies—such as A.T Kearney; Analysis Group, Inc.; Bain & Co.; Boston Consulting Group; Eco-Stat Corporation; Economics Resource Group; The Brattle Group; Chicago Partners; Cornerstone Research; McKinsey & Co.; Law and Economics Consulting Group; Nathan Associates; and NERA—are providing the services of business economic analysis to enterprises that do not want to develop in-house expertise in this area. Many financial industry firms such as Credit Swiss First Boston, Ernst & Young, Deutsche Bank, Lincoln International, and Lehman Brothers are actively hiring BEPP graduates.

Economic Consulting Major Requirements: G303, G304, G345, G350, G400, G456, and G492.

Public Policy Analysis Major

The major in Public Policy Analysis provides students with training in the application of micro- and macroeconomics to the analysis of the effect of governmental policies on the business environment and in forecasting techniques.

As job opportunities have expanded, firms have become particularly interested in the fields of policy analysis, applied economics, and forecasting. As a result, most public policy analysts are involved in a variety of tasks rather than in narrow or highly specialized work. Thus a broad (rather than specialized) education in public policy analysis and business administration is advantageous. Analysts may be employed by companies in the fields of banking, manufacturing, transportation, utilities, insurance, real estate, finance, mining, and retailing. In addition, many trade associations, consulting firms, and governmental agencies employ public policy analysts. Public policy analysts help provide information to top management for use in interpreting governmental regulations. Their skills may be called upon to assist in writing speeches, preparing testimony, or helping with company publications.

Public Policy Analysis Major Requirements: G303, G304, G345, G350, G406, and G494.