Why Study Economics National University

Leo Migdal

-Dec 7, 2025, 3:48 PM

In today’s complex and interconnected world, understanding economic principles is essential for making informed decisions and navigating global challenges. Economics provides a critical framework for analyzing global challenges such as inflation and unemployment, international trade, environmental sustainability, and income inequality. This discipline is grounded in developing solutions that drive sustainable growth and improve societal well-being. It’s easy to see why the study of economics opens the door to exciting opportunities. It equips you with analytical and problem-solving skills that are applicable across all major industries, from finance and government to international agencies and academia. An economics education also illuminates diverse career paths and gives you the tools needed to make a positive impact in various professional roles.

Studying economics equips you with the tools to understand the world around you and play a significant role in shaping its future. Let’s explore what an economics education involves and how it can prepare you for success. Economics is the study of how societies make choices under conditions of scarcity. It’s about understanding the decisions individuals, businesses, and governments make to utilize and distribute limited resources effectively. From the everyday choices you make as a consumer to the complex policies that shape global commerce, economics provides a powerful lens for analyzing the world around you. Economics offers a world of opportunities.

An economics degree equips you with a versatile skill set that makes you an asset in any career. You’ll develop a keen ability to analyze complex problems, think critically, and make data-driven decisions. These skills, paired with the foundational economic principles you’ll learn in your studies, are particularly useful in fields like finance, business, government, and international development. Harvard Business School Online's Business Insights Blog provides the career insights you need to achieve your goals and gain confidence in your business skills. An economics course can teach you the fundamentals needed to decipher graphs and other important financial data, as well as the tools to develop a successful business strategy. But how can you know if studying economics is right for you?

Consider the possible outcomes of various economics programs and how they compare to your personal and professional goals. At its core, economics is the study of how individuals, groups, and nations manage and use resources. Economics can be broken down into microeconomics, which examines individual decisions, and macroeconomics, which is concerned with the economy as a whole. Both types of economics utilize historical trends and current conditions to inform business decision-making and make predictions of how markets will behave in the future. Thinking about pursuing an economics degree but wondering what you can do with it. You’re not alone—many students and career changers have the same question.

In today’s fast-paced job market, an economics degree can be your ticket to a variety of exciting career paths. You’ll gain analytical and critical thinking skills that employers across a multitude of industries look for. Whether you’re interested in shaping public policy, making business decisions, or analyzing market trends, an economics degree can open the door to many rewarding opportunities. Ready to take the next step in your career or start a new educational journey? Economics might be the perfect choice for you. Economics is a fascinating field that looks at how we produce, distribute, and consume goods and services.

Essentially, it’s all about understanding the choices people, businesses, governments, and countries make to allocate resources. From household budgets to global trade policies, economics covers it all. By studying this subject, you’ll learn how markets work, why prices change, and how policies can affect economic stability and growth. It’s a field that helps us make sense of the complex interactions driving the world’s economies and impacts decisions that shape our everyday lives. An economics degree equips you with a toolkit of essential skills that are highly valued by employers. Let’s dive into some of the key abilities you’ll develop:

These skills can make you a strong candidate in many industries outside the sphere of economics. In finance, your analytical skills help assess investments. In healthcare, your problem-solving abilities can improve efficiency. Even in marketing, your knack for data analysis can drive targeted campaigns. An economics degree doesn’t limit you to one career; it provides a broad foundation for many paths. By mastering these skills, you’ll be ready to adapt and thrive in any professional environment.

The Bachelor of Business Administration (BBA) degree prepares you for career opportunities and advancement in business, entrepreneurship, and nonprofit organizations. By successfully completing NU’s lower- and upper-division BBA requirements, you’ll comprehend the importance of and relationships between marketing, accounting, quantitative theory, economic principles, and the management of finances, personnel, and organizations. The Economics concentration is designed for those interested in learning how individuals, businesses, and governments make economic decisions in allocating their resources. The coursework teaches quantitative analysis, economic fundamentals, and monetary principles that can prepare you for success in graduate business studies, law school, professional training, and employment opportunities in government, the private sector, and international... In preparation for your Bachelor of Business Administration studies, you’re required to complete the following courses or equivalents: For the Bachelor of Business Administration degree with a concentration in Economics, you must complete ten foundational courses and five concentration courses.

Introduction to the roles of managers and the vision, mission and goals of organizations. Investigates management theories and explores the four primary functions of managers: Planning, Organizing, Leading and Controlling. Covers issues related to human resource management, organizational structure and behavior, creative problem solving, effective communication, and the management of teams, change and innovations. The Bachelor of Arts in Management (BAM) degree prepares you for a career managing organizations and personnel in global, multicultural settings covering a wide range of industries. Foundational courses provide essential skills and knowledge for building and guiding teams, facilitating work processes, analyzing data, and making better decisions regarding market opportunities, finances, and the business environment. For maximum flexibility, the program minimizes prerequisites while offering seven different areas of management concentration.

The Economics concentration is designed for those who want to progress beyond microeconomics and macroeconomics to examine how individuals, businesses and governments make decisions in allocating their resources. The coursework teaches quantitative analysis, economic fundamentals, and monetary principles that can prepare you for success in graduate business studies, law school, professional training, and employment opportunities in government, the private sector, and international... In preparation for your Bachelor of Arts in Management studies, you’re required to complete the following courses or equivalents: For the Bachelor of Arts in Management degree with a concentration in Economics, you must complete ten foundational courses and five concentration courses. Given the nature of economics, the options and opportunities for students are many. Studying this discipline gives students an understanding of the national economy and equips them to think critically about problems in the business world.

Whether you are interested in diving into research, pursuing a graduate degree, attaining a high paying job or understanding global challenges, studying economics at Belmont will leave you more than prepared to achieve your... This guide explores eight compelling reasons why studying economics is more relevant than ever. Read on to find the answers to your lingering questions about economics and learn a few things you didn’t think to ask! In general, economics is about people. It’s the decisions they make as individuals, the markets they create and the complex interactions between them. Economics is often divided into two main sectors:

At its core, economics is the study of how people use limited resources to meet unlimited wants. Plus, the insights you gain from economics are valuable every day, no matter your path. As you look at colleges, you want to find an economics program with outstanding faculty, hands-on research opportunities and a curriculum that prepares you for graduate school and real-world decision-making. Most textbooks will tell you that economics is the study of resource allocation. True. But we believe that’s far too narrow of a definition.

Economics is, more broadly, the study of how our decisions, and the institutional contexts in which we make those decisions, impact our success in achieving our wants and addressing our needs. That’s why we believe everyone needs to learn more about it. Economics encompasses everything from the foundations of individual decision-making to the design of public policymaking. Which is why studying it is so essential. An economics degree is the perfect foundation for whatever you want to do next. This STEM-designated major provides a toolkit for thinking about how the economy works and how economic policies affect us.

It teaches students to think about real-world problems in an analytically rigorous way. And it provides the skills to analyze complex data, which is increasingly valuable in our data-driven world. "...economics can be applied to anything. So, whether thats basketball or medicine, I'm looking forward to using my education to help the world be a better place." - Benny Gealer, class of 2026 (Stanford Report) The study of economics helps people understand the world around them. It enables people to understand people, businesses, markets and governments, and therefore better respond to the threats and opportunities that emerge when things change.

Economics majors are well-positioned in an ever-changing world because they have problem solving and analytical skills that allow them to succeed in variety of career paths—law, risk management, actuary, finance, foreign affairs, public administration,... The breadth and flexibility of an economics degree prepares students to adjust to unexpected changes and take advantage of unexpected opportunities. A study by LinkedIn (PDF, 43 KB) found that college graduates change jobs and careers about four times in the first ten years after graduation. With its wide-ranging applications, economics is a great choice in an ever-changing world. Economics, at its core, is the study of how to evaluate alternatives and make better choices. It develops critical-thinking and problem-solving skills to make good decisions.

It develops analytical skills to examine data to support good decisions. These skills are desired across careers in the public and private sectors. An annual study by the National Association of Colleges and Employers (NACE) consistently finds that employers want the skills gained from studying economics—the ability to make decisions, solve problems, obtain and process information, analyze... No matter what the future holds, an economics major helps people succeed. Understanding how decisions are made, how markets work, how rules affect outcomes, and how economic forces drive social systems will equip people to make better decisions and solve more problems. This translates to success in work and in life.

Though economics majors enjoy relatively high starting salaries, the key indicator of the value of an economics major is long-term success and lifetime earnings. A study (PDF, 194 KB) finds the lifetime earnings of economics majors outpaces other business major, social science majors, and even general engineering majors. Another study (PDF, 1.2 MB) finds that lawyers with an undergraduate degree in economics earn $10,000 more annually than other lawyers. And an analysis of S&P 500 CEOs (PDF, 289 KB) showed that economics majors are more likely to become a CEO than any other major. Economics is a branch of social science that focuses on the production, consumption and transfer of wealth. Broken into two classes, macroeconomics and microeconomics, economics directly affect everyday life.

Why Study Economics National University

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