Business Economics
Why pursue a business economics degree at North Central College?
Business economics professionals have an eye for working in corporations, the government, or financial sector, specifically focusing on business cycles. Economists are highly numeric individuals involved in researching and analyzing data, producing forecasts, and presenting reports. This program is designed to give you a comprehensive business core as well as widely transferrable analytic and problem-solving skills which boost employability in a variety of corporate jobs. At North Central, you’ll work closely with faculty to develop not only your quantitative skills but also reasoning and decision-making skills. You will discover how best to draw conclusions from data, evaluating theories that affect public policy and market forces. This training will serve you well in careers such as economic consultant, financial risk analyst and data analyst. As a thoughtful decision maker, your economic skillset will always be in demand in the business world.
IF YOU ARE INTERESTED IN
- Researching and analyzing economic data, issues and trends on markets and business cycles
- Producing economic forecasts and reports
- Advising corporate clients on policy or business strategy
then a degree in BUSINESS ECONOMICS might be for you.
Why study business economics at North Central College?
In the Classroom
Coursework topics:
- 11-course comprehensive business core (including Corporate Finance, Microeconomics, Macroeconomics, Financial Accounting and Managerial Accounting)
- Econometrics
- Environmental Economics
- History of Economic Thought
- Industrial Organization & Public Policy
- Intermediate Macroeconomics
- Intermediate Microeconomics
- International Economics
- Money and Banking
- Sports Economics
Beyond the Classroom
As a business economics major you can:
- Simulate trading and access thousands of proprietary reports in the Bloomberg Finance Lab, equipped with ten dual-monitor workstations, Bloomberg Terminal software, and Bloomberg’s unique keyboards.
- Become “Bloomberg certified” by completing a series of advanced financial modules in our Bloomberg Finance Lab.
- Apply for internships and jobs through robust faculty and alumni networks or the Center for Career and Professional Development.
- Join student organizations like the Invisible Hand Economics Club, which arranges networking events and guest speakers.
- Visit the nearby Chicago Board of Trade, Chicago Board Options Exchange and Federal Reserve.
- Work with local schools through the Center for Financial Literacy.
- Research your interests alongside faculty and present your findings on campus or at national conferences.
We also offer an MBA program for graduate students who are interested in deepening their education and skills in business administration. Our MBA business program is open to students with any undergraduate degree. This means that their bachelor's degree does not have to be related to business in order for them to apply to this graduate program.
Business Economics, B.B.A.
The Bachelor of Business Administration degree is most appropriate for students planning to seek entry level careers in all business areas who desire both a strong foundation in economic theory as well as broad exposure to all areas of business including accounting, finance, management and marketing.
Common SBE Core
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SBEN 100 - Globalization and Society
SBEN 100 - Globalization and Society
4.00 credit hours
An introductory course identifying the role of the business institution in our society, how business behavior is shaped and influenced by its stakeholders-managers, consumers, employees, government and community members. Key topics include: business systems, corporate governance, the business and society relationship, business and public issues, ethical dilemmas in business, corporate social responsibilities in relation to stakeholders, globalization, ecological and sustainability issues and the influence of technology on business and society.
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ACCT 201 - Financial Accounting
ACCT 201 - Financial Accounting
4.00 credit hours
An introduction to accounting principles and procedures as they are employed in the communication of financial information to various users, such as management, stockholders and government agencies. Topics include accounting for assets, liabilities, owner's equity and other reporting issues.
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ACCT 202 - Managerial Accounting
ACCT 202 - Managerial Accounting
4.00 credit hours
Analysis of accounting for managerial decision-making, planning and control. Topics include budgeting, variance analysis, traditional and nontraditional product costing methods and cost-volume profit analysis.
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BUSN 205 - Business Law and Ethics
BUSN 205 - Business Law and Ethics
4.00 credit hours
Surveys the major aspects of the law governing business and commerce including the domestic and international legal environment, the range of dispute resolution processes, legal liability including torts and negligence, contracts, employment law including employment discrimination, business entities, commercial transactions and intellectual property—all with particular emphasis on business ethics and ethical decision making.
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BUSN 265 - Business and Economics Statistics
BUSN 265 - Business and Economics Statistics
4.00 credit hours
Provides an overview of basic statistics as it applies to business. The focus is on learning statistical concepts by applying analytical reasoning to business applications. Examples illustrating the relevance of statistics to broad areas of business are used. The course requires students to use spreadsheet programs, statistical programs, the Internet and other computer tools in analyzing statistics. The focus is on application of the material and on solving problems. Only one of BUSN 265 and
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BUSN 485 - Business Strategy
BUSN 485 - Business Strategy
4.00 credit hours
The capstone course requirement for all business majors. As befits a capstone, student skills in business strategy are developed in a highly integrative manner such that students use knowledge and frameworks from all functional areas of business to develop a holistic perspective of firms and competitive advantage. The knowing component of this course is focused on theoretical knowledge and frameworks applied in the critical analysis of business case studies. The doing component of this course centers on an online simulation where students compete to run a successful business.
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ECON 200 - Principles of Microeconomics
ECON 200 - Principles of Microeconomics
4.00 credit hours
Introduction to the theory of consumer choice, social and individual welfare, the behavior of business firms and market structure, and other applied microeconomic topics.
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ECON 205 - Principles of Macroeconomics
ECON 205 - Principles of Macroeconomics
4.00 credit hours
Introduction to macroeconomic theory, with emphasis on factors which explain changes in national income, unemployment and inflation. Other topics include money and banking, fiscal and monetary policies, distribution of income and economic crises.
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FINA 350 - Corporate Finance
FINA 350 - Corporate Finance
4.00 credit hours
An introduction to corporate financial management. Topics include financial statement analysis, discounted cash flow analysis, bond and stock valuation, common stock/debt financing, risk and return, cost of capital, and capital budgeting.
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MGMT 305 - Management and Organizational Behavior
MGMT 305 - Management and Organizational Behavior
4.00 credit hours
Provides a formal overview of why organizations exist and how they operate within the context of society. Basic management issues such as the structure of organizations are explored. In many cases management topics are covered in a generic manner that can be applied to any organization. Other issues are addressed with specific applications to certain firms. This course examines our role as individuals as it pertains to organizations. It is generally meant to provide a framework to analyze organizations that exist in the U.S. but will also cover some international topics.
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MKTG 300 - Principles of Marketing
MKTG 300 - Principles of Marketing
4.00 credit hours
Presents an overview of Marketing as a principle, a discipline, and as a profession. Students examine all elements of Marketing including integrated promotional strategies, consumer behavior, and ethics and social responsibility. Emphasis is placed on the Marketing Mix (Product, Place, Promotion and Price) as students design and implement a comprehensive marketing plan.
Economics Courses
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ECON 365 - Econometrics
ECON 365 - Econometrics
4.00 credit hours
This course provides exposure to the estimation and testing of economic models using statistical methods and appropriate empirical data. Emphasis is placed on model construction and the use of multiple linear regression for interpretation, analysis and forecasting.
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ECON 400 - Intermediate Microeconomics
ECON 400 - Intermediate Microeconomics
4.00 credit hours
An economic analysis of consumers, firms, and markets. Consumer theory includes indifference curve analysis with applications related to a wide range of consumer behavior. Firm costs and revenue decisions are analyzed within the context of market structure and public policy.
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ECON 405 - Intermediate Macroeconomics
ECON 405 - Intermediate Macroeconomics
4.00 credit hours
Macroeconomic theory and policy at the intermediate level. Topics include measurement of aggregate variables, economic growth, and business cycles. Consumer behavior and firm production decisions are analyzed in their relation to the economy as a whole.
- Eight credit hours of ECON electives, at least four credit hours at the 300-level or above
Internships
Recent graduates in economics have served as:
- Research analyst, Waddell and Reed, Naperville
- Public Finance Intern, Robert W. Baird and Company
- Intern, Professional Liability Area, USLI Insurance
- Retirement planning, Northwestern Mutual, Lombard, Ill.
- Intern, finance department, OfficeMax, Naperville
- Intern, Siegfried Investment Fund, LLC
- Chicago climate exchange regulatory extern, Financial Industry Regulatory Authority, Chicago
- Intern, International Credit Risk Management, Northern Trust
Graduate Schools
Recent graduates in economics have been accepted at:
- Clemson University
- Depaul University
- Indiana University School of Law
- Loyola University Chicago School of Law
- Marquette University
- Northwestern University
- University of Illinois
- University of Iowa
- University of Kentucky
- University of Oregon
- University of Wisconsin
- Valparaiso University
- Vanderbilt University
Careers
Recent graduates in economics include:
- Consultant, NFP Insurance Solutions
- Market intelligence analyst, Portland Cement Association
- Financial analyst, Gallagher Bassett
- Associate Wealth Management Advisor, Spahn Financial Pricing Analyst, Hub Group
- Data Analytics Specialist, MB Financial