This fall, the Naveen Jindal School of Management at the University of Texas Dallas launched a new concentration in business economics for students pursuing their bachelor of science in business administration.
“To be knowledgeable
in the business world and in the world in general, a basic understanding of
economics is crucial,” UT Dallas clinical professor of finance and managerial economics Peter Lewin said. “But
an economics background is also a wonderful grounding for law school as well as
students going on to get their MBA and other degrees — even engineering. In
terms of the business subjects such as finance and accounting, economics is way
up there, if not right at the top.”
The program arose from
research that shows students with an economics background typically perform
better in graduate school and earn larger paychecks upon entering the work
force. The concentration’s coursework requirements build upon introductory
micro- and macroeconomics courses that all business undergrads take, delving
further into those topics.
“Businesses these days
are looking for students who not only have technical proficiency in the various
disciplines like operations research, finance, behavioral management and
marketing, but also are able to engage in critical thinking and independent and
bold decision-making, and economics provides those critical thinking skills and
also a framework for conceptual decision-making,” Lewin said.
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