Major in Business Economics
S1 Economics
Major in Business Economics
Working closely with students to build ‘business economist’ expertise.
Do you want to know how to construct the right strategic decision? Or do you want to know how to manage macro factors to produce high productivity and profits? This program is perfect for students interested in general business and for those who want to focus in organizational problems and its financing challenges, majoring in Business Economics. You will learn about the basic internal and external environment as separate factors in economics, and how to synergize knowledge of the internal environment with knowledge of the external environment. Graduates are expected to have the acumen of an Economist or Business Analyst, and also to increase the value of money in a business that can be affected by fluctuations in currency, stock indexes, crude oil prices and other macroeconomic conditions.
Managing Your Business
In the Business Economics major, you will learn the basics of managing a business or organization. If you do not know what goes on inside a company, you will not know how to adjust to what is happening outside it. Some of the lectures will provide important knowledge about how to finance your company. On the business side of this concentration, you will learn how to manage the company from within and how you should manage it in the long term.
Economic expertise
A Business Economics expert must know the position of others. Not only within the company, but also outside it. As a business economist, you must know how to make the right decisions based on various factors related to enterprise and macro economics. Basically, as a business economist, you bridge the gap of information between internal and external factors and make the most of what you know to achieve maximum profit or productivity.
Career Opportunities
Graduates in Business Economics are expected to work as Business Economists in the near future. Business Economists help to bridge the gap between macro and micro economics:
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Career as a Market Analyst
you can help your organization to determine the strategic directions to be taken. -
Pricing Manager
as a pricing manager you will be responsible for assessing economic differences at local, national and regional levels. You will determine what pricing techniques should be used to maximize profits. -
Production Manager
with an understanding about your environment, you will know how much should be produced to acquire the right profits. -
Careers in Business Innovation Management
as a business consultant with extensive knowledge and skills to manage people, you will not be glued to a routine; you can change the way companies manage themselves to achieve maximum efficiency levels. -
Career in government
you will act in the capacity of an advisor to governments or government agencies in the areas of strategic planning at various levels of government, both internally and externally as a consultant.
However, your career possibilities are not limited to the paths mentioned above. Other possibilities include Strategy Analyst at a multinational corporation, specializing in the areas of market development and competitive positioning; International Economic Consultant at national / international governmental organizations; and Business Consultant at a consulting firm, operating at an international level.
A Business Economist is a True Generalist
The complexity of today’s business world require the expertise of business economists. You need to have the vision to monitor these complexities. Finally, business economists are increasingly being recognized as the people with the most potential to best occupy top management.
Unit Outline
Corporate Finance, Business Policy and Strategy, Business and Risk Management, Project Business Plan for Business Economics
Unit Descriptions
Corporate Finance
This unit aims to give students in-depth knowledge about corporate finance systems in a company such as for financial statement analysis, corporate financial efficiency, valuation, capital management and other.
Business Policy and Strategy
This unit provides extensive knowledge about the basic concepts of strategic management and develops experience in strategic planning. Lectures will focus on using analytical tools in the strategic planning process that starts from vision, strategic positioning, business mission, business strategy formulation, formulation of functional strategies, consolidation, business and functional strategy at the corporate level, the assignment of programs at the business and functional level and resource allocation and budgeting process.
Business and Risk Management
This unit discusses the general risks as well as specific business risks faced by a company. Discussion includes methods of risk management. The risk management process begins with identification, risk analysis and control including risk financing, risk both for property, casualty and legal responsibility (liability), human resources and speculative risk. Also discussed will be how to manage crises suffered by a company (crisis management) like riots, demonstrations, acts of God, etc.
Business and Economic Simulation
This unit aims to expose students to new analytical tools as part of decision – making (a decision support system). It starts with the introduction of systems thinking and includes models that represent an abstraction of reality and how to apply them in real life, with an emphasis on actual business cases and economics. In this course, students will also be introduced to some simulation software.
Business Plan Project for Business Economics
This unit aims to enhance students’ analytical skills related to their knowledge, to integrate knowledge acquired and provide a medium to express their ideas in written form that can be evaluated scientifically. Students wishing to take this course are required to have mentors and business projects and choose economic topics that are relevant to this concentration.