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Economics is concerned with how resources are allocated in production, prices are determined, incomes are distributed and growth occurs. Economists examine such issues as how fiscal and monetary policies affect prices and employment, the effect on international trade of international trade agreements and the international price of the dollar, the size and future composition of the labor force, the effects of government regulations on the price, quantity and quality of goods and services, and costs and benefits of environmental policies. Economists are employed by private businesses, utilities, railroads, government at all levels, educational institutions, labor unions, trade associations and non-profit organizations. In businesses, economists’ duties include analyzing and forecasting industry and market conditions, and making recommendations and decisions relative to capital investments, marketing new products, employee compensation, and the impact of government regulation. In addition, economics is superb preparation for graduate work in areas such as business law, political science, international relations, gerontology, and public administration. Economics also is an excellent dual major or minor for many areas of study.
Careers
Business is a broad, flexible, and valuable field of study. Students who graduate with a business degree can choose from a variety of professions in a number of industries and fields. Individuals with business degrees may find career opportunities working in government, large, mid-size, and small companies, nonprofit organizations, and institutions of higher education. A business degree prepares students for a fulfilling and flexible career, matching personal interests with professional ambitions, and allowing for the ability to pivot and flex careers as opportunities arise. Although a business degree applies to a vast array of careers, allowing an individual to work in any number of industries or roles, for ease of use, a list of possible business-related careers is broken down by department.
