Kellstadt Graduate School of Business

Applied Economics Concentration

The Applied Economics concentration is designed to train the student to be an astute observer of business and the economy.  Through objective analysis, the student can help the firm adapt to the ever-changing economic environment.  Business economists commonly prepare and interpret forecasts for firms. These activities involve decisions regarding optimal pricing, sales and advertising, marketing policies, purchasing, industrial relations, and investment and portfolio decisions.  The business economist often relates the domestic and global economic outlooks to the firm’s business and its markets, as well as advanced applications for bridging strategic analysis to financial forecasts and valuation.

Most medium and large firms hire business economists in areas such as manufacturing, communications, banking, insurance, retailing, finance and investment, transportation, utilities and consulting.  In addition, positions in various departments of federal, state and local governments are available. Job mobility can be high with business economists moving among business firms, government, nonprofits and possibly academic institutions.

To complete this concentration, students are required to take three graduate-level Economics courses (a sample list of acceptable electives is given below).  It is highly recommended that Econometrics Methods for Business Analysis (ECO 510) be one of the four, and students are encouraged to consult with Economics faculty for course recommendations.

Requirements

  • ADVANCED MICROECONOMICS (ECO 505)
  • ADVANCED MACROECONOMICS (ECO 506)
  • ECONOMETRIC METHODS FOR BUSINESS ANALYSIS (ECO 510)
  • BUSINESS AND ECONOMIC FORECASTING (ECO 511)
  • APPLIED TIME SERIES AND FORECASTING (ECO 512)
  • INDUSTRIAL ORGANIZATION (ECO 514)
  • BUSINESS AND PUBLIC POLICY (ECO 515)
  • PUBLIC ECONOMICS AND THE ECONOMICS OF TAXATION (ECO 516)
  • LABOR ECONOMICS AND LABOR RELATIONS (ECO 518)
  • HISTORY OF ECONOMIC THOUGHT (ECO 530)
  • REGIONAL AND URBAN ECONOMICS (ECO 550)
  • INTERNATIONAL TRADE (ECO 557)
  • INTERNATIONAL MACROECONOMICS (ECO 558)
  • ECONOMICS OF DEVELOPING COUNTRIES (ECO 561)
  • ADVANCED ECONOMETRIC METHODS (ECO 576)
  • SPECIAL TOPICS (ECO 798)

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