Overview of International Business and Economics Degree Programs
With globalization being an important part of the international economy, businesses are now interested in hiring individuals who can handle global operations. International business and economics degree programs pave the pathway to this career. If you are interested in a job that is challenging and are open to diversity, this is a program you would be looking forward to. There are many reputed universities and business schools offering this program.
Admission Requirements for International Business and Economics Degree Programs
A minimum of a 3.5 GPA is required to be admitted into a reputable business school. A background in economics or science in high school will definitely be helpful. An ACT score of 17 or SAT score of 930 is required to immediately qualify. Since there is a high demand for these programs, you have better chances of qualifying if you have a good GPA and SAT/ACT scores.
International Business and Economics Degree Programs Common Coursework
Most of these programs have courses that cover international standards in business. They also include courses that introduce you to international culture and diversity.
This course helps you understand the different economies across the world. International economics is a very common course and is included in almost every international business program.
International Business Strategy and Management
An international business strategy is different from a local one. It requires special skills and knowledge to design and implement. This course will also help you comprehend the long-term goals of an international business organization.
Micro and Macroeconomics
Usually available as separate courses, micro and macroeconomics lay the basis of international economics. Though old concepts, these courses are still significant in today's business world. Again, these are mandatory courses for most international business programs.
Cultural Diversity in International Business
This course gives you general information on the different cultures of the world. It mainly includes the dos and don'ts when conducting international business. This course is not commonly found in other business programs.
International Managerial Accounting
Managerial accounting oversees the typical accounting processes. This course helps you to control accounting as a manager, and it is again vital in international business. This course usually involves asset-based and cost-based accounting.
How to Choose International Business and Economics Degree Programs
With a variety of schools offering this program, you will have to do some ground research before choosing the program. Always look for schools that offer internships or co-ops. This way, you have a chance of securing a career even while you are studying. Some schools also have international business tours, which is even better. State universities are often the most affordable places to go to for these types of programs.
Career Options for International Business and Economics Degree Holders
Graduating from a program that has both international business and economics courses opens the doors to numerous opportunities. The median salary for someone with a bachelor's degree in international business is around $64,000 per year as of 2019, according to Payscale.com. The U.S. Bureau of Labor Statistics notes that business and financial occupations are expected to grow to 7% in the 2018-2028 decade, which looks promising for these careers. Here are a few career options available: