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 application of economic thinking, including game theory and predictive data analysis to business strategy. At the same time enterprises have also become increasingly influenced by governmental rules, regulations, and policies. Specifically regulated industries, 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 strategic business decision making, the effect of governmental policies on the business environment, and data analysis.

The department offers two majors and two co-majors: Economic Consulting, Public Policy Analysis, Sustainable Business (co-major), and Business Analytics (co-major).

Economic Consulting Major

Business economics is playing an increasingly important role in managerial decision making in the United States and abroad as firm strategy is becoming more analytical. 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. The major focuses on critical thinking, business strategies, and problems solving.

Economic Consulting Major Requirements (21 credits):

Required GPA: Major GPA of 2.0 – GPA includes all courses counting toward the Economic Consulting major. All 300/400 business courses must be taken on the IU-Bloomington campus, or must be pre-authorized as part of an approved study abroad program. 

• BUS-G 303, Game Theory for Business Strategy
• BUS-G 304, Managerial Economics
• BUS-G 345, Money, Banking and Capital Markets
• BUS-G 350, Business Econometrics
• BUS-G 400, Capstone in Economic Consulting
• BUS-G 456, Non-Market Risk Consulting
• BUS-G 492, Data Analysis Using Economic Modeling

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, international capital markets and terms of trade on the business environment.

Public Policy Analysis Major Requirements (18 credits):

Required GPA: Major GPA of 2.0 – GPA includes all courses counting toward the Public Policy Analysis major. All 300/400 business courses must be taken on the IU-Bloomington campus, or must be pre-authorized as a part of an approved study abroad program. 

• BUS-G 303, Game Theory for Business Strategy
• BUS-G 304, Managerial Economics
• BUS-G 345, Money, Banking and Capital Markets
• BUS-G 350, Business Econometrics
• BUS-G 406, Business Enterprise and Public Policy
• BUS-G 494, Public Policy and the International Economy

View here for a full list of Economic Consulting & Public Policy courses.  

Sustainable Business Co-Major:

Firms are increasingly facing added pressures to employ more sustainable business practices. Thus, employers are placing added weight on recruiting employees that have perspective on integrating sustainability into corporate strategy. The Sustainable Business co-major takes an interdisciplinary approach, drawing on faculty and courses from several Kelley departments, as successful sustainable business strategy is implemented across all the functional areas of business. In this regard, the Sustainable Business co-major is designed for students who wish to complement a functional area of business with a strong background in sustainable business strategy and implementation.

Sustainable Business Co-Major Requirements (15 credits):

Required Grades and GPA: Major GPA of 2.0 or higher – GPA includes all courses counting toward the co-major. All 300/400 business courses must be taken on the IU-Bloomington campus or must be pre-authorized as a part of an approved study abroad program. 

Note: Sustainable Business is a second major only. It must be declared in conjunction with another Kelley academic major.

Required Courses:

• BUS-G 316, Sustainable Enterprise
• BUS-G 456, Non-Market Risk Consulting

Electives for a total of 9 credits. A maximum of one non-business course may be counted:

Business Elective Options (choose 6-9 credit hours):

• BUS-G 406, Business Enterprise and Public Policy
• BUS-M 360, Topics in Marketing: Sales for Social Impact
• BUS-L 302, Sustainability Law and Policy
• BUS-L 355, Topics in Business Law: Business and Global Poverty Alleviation
• BUS-P 316, Sustainable Operations
• BUS-W 316, Sustainable Business Reports

Non-Business Elective Options (choose 0-3 credit hours):

• GEOG-G 315, Environmental Conservation
• GEOG-G 448, Capitalism and Nature
• SOAD-D 203, Green Building Concepts and Technologies
• SOAD-M 416, Sustainability in Product: Fashion Design, Merchandising, and Retailing
• SPEA-E 363, Environmental Management
• SPEA-V 450, Contemporary Issues in Public Affairs
• SPH-O 360, Human Health and Natural Environments

Business Analytics Co-Major:

As data and analytical software continue to proliferate and improve, businesses are increasingly relying on business analytics to gain a competitive advantage or to just keep up with the competition.  The business analytics co-major is designed to provide Kelley students the opportunity to complement their primary major with advanced business analytics skills, allowing them to better integrate data insights into their analyses and decision-making. The Business Analytics Co-Major can be paired with any other Kelley School of Business undergraduate major.

 Business Analytics Co-Major Requirements (15 credits):

Required Courses:

• BUS-G 350, Business Econometrics
• BUS-G 492, Data Analysis using Economic Modeling
• BUS-K 327, Deterministic Models in Operations Research
• BUS-K 353, Business Analytics and Modeling

Elective Courses (choose 3 credits):

• BUS-A 437, Advanced Management Accounting
• BUS-F 335, Security Trading and Market Making
• BUS-F 420, Equity and Fixed Income
• BUS-F 421, Derivative Securities and Corprorate Risk Management
• BUS-G 303, Game Theory for Business Strategy*
• BUS-M 303, Marketing Research
• BUS-M 346, Analysis of Marketing Data
• BUS-M 455, Topic: CRM and Digital Analytics
• BUS-P 481, Supply Chain Planning and Analytics*
• BUS-S 326, Web and Social Media Analytics

Full course descriptions can be viewed here: Accounting, Finance, Business Economics and Public Policy. Operations and Decision Technologies, Business Law and Ethics, Marketing and Management and Entrepreneurship. 

*G303 may not be used as an elective by Economic Consulting or Public Policy majors. P481 may not count as an elective for Information Systems majors or Technology Management co-majors.