Overview of Online Business Economics Degree
Known to be more efficient, affordable, and versatile, the online business economics degree program opens doors for a broad range of career options. Not only does this program offer flexibility in the time and place in which the academic learning process can occur, the business and economics major in itself is well known for providing applicable knowledge for students to use in the workplace.
Admission Requirements for Online Business Economics Programs
In addition to a high school diploma or GED, students who wish to enroll in the online business economics program transferring credits from college might be considered pre-business students and have to complete some prerequisite courses such as math, English, and introduction to economics. Submission of a personal statement and SAT scores or the equivalent may also be required in some cases. Students will also have to maintain a minimum GPA. A total of 120 credits comprising general education, major courses, and elective requirements are needed to complete the degree. Of course, most importantly, a working internet connection and device are needed to ensure successful facilitation of the learning process.
Business Economics Online Program Coursework
The coursework of the business economics online program are more or less similar to those in a business economics program that is held offline. Some of the subjects include those listed below.
The marketing course covers the fundamental concepts of marketing and its role in society. The analysis of purchasing behavior and product attributes will be conducted using case studies and real-life current events. The different distribution channels as well as pricing, promotion, and product aspects will be explored.
Aspects of financing a business include capital budgeting, risk, and return. Calculation and consideration of long-term investments will also be clarified. Quantitative analysis of present and future values of project cash flows will be examined in this course.
This branch of managerial accounting involves sorting and calculating internal financial reports that aid managers with the decision-making process. This course will teach students job costing, budget costing, and statement re-casting and analysis. Cost terms and objects, as well as the allocation of fixed and variable costs in the cost ledgers, will also be discussed.
This course discusses how members of a society interact and make decisions based on the law of supply and demand. Market failure models and causes are analyzed and illustrated. Risk, pricing, income, and unemployment theories are also discussed.
With the use of economic tools, this course aims to identify the process of decision-making involving the government in particular. This course covers the scope of public policy, administration, and political science as well.
How to Choose an Online Business Economics Degree
When choosing an online business economics degree, students must ensure that the university of their choice has been properly accredited to teach the online business economics program. The choice of online learning may hinder students from joining in meaningful case discussions and presentations that are essential to any business economics syllabus. In order to gain more credibility in the workplace, students may choose to simultaneously undergo an internship program to gain real-life experience.
Career Options with an Online Business Economics Degree
An online business economics degree provides a wide range of career options including those in banking, consultancy, management, and data analysis. According to the U.S. Bureau of Labor Statistics, the median annual wage for business and financial sector employees in 2018 was $68,350. Students will be eligible for a variety of jobs, some of which are listed below.