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
Master’s Degree	56
Graduate Certificate	15
Doctor’s Degree	7

What Business Economics Majors Need to Know

In an O*NET survey, business economics majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Business Economics Majors

Business Economics majors often go into careers in which the following 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

When studying business economics, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• 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

Some of the most crucial abilities to master while a business economics student include the following:

• 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?

People with a business economics degree often go into the following careers:

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 Master’s Degree in Business Economics?

This major attracts more men than women. About 59% of the graduates in this field are male.

Racial-Ethnic Diversity

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

Race/Ethnicity	Number of Grads
Asian	2
Black or African American	8
Hispanic or Latino	5
White	22
International Students	12
Other Races/Ethnicities	7

Geographic Diversity

Students from other countries are interested in Business Economics, too. About 21.4% of those with this major are international students.

Amount of Education Required for Careers Related to Business Economics

Some degrees associated with business economics may require an advanced degree, while others may not even require a bachelor’s in the field. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

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.