Bachelor of Economics

"BEc" redirects here. For other uses, see Bec and BEC.

A Bachelor of Economics (BEc or BEcon)[1][2] is an academic degree awarded to students who have completed undergraduate studies in economics. Specialized economics degrees are also offered as a "tagged" BA (Econ), BS (Econ) / BSc (Econ), BCom (Econ), and BSocSc (Econ), or variants such as the "Bachelor of Economic Science".[3]

These degrees typically encompasses a broad range of topics in the field of economics, including microeconomics, macroeconomics, econometrics, economic history, and international economics. The program aims to provide students with a comprehensive understanding of economic theories, principles, and models, and their application in analyzing real-world economic issues. The curriculum is then[2][1] substantially more theoretical and mathematical than the major in economics available generally (BBA, general BCom or BA).

Graduates often pursue careers in[2][1] economic analysis, policy development, finance, and business consulting, or continue their studies in graduate programs.

Structure

The BEcon and the specialized degrees [4][5][1] each have their own structure, differing by university. Generally, though, the curriculum is built around a core of theory, to which is added courses in the various branches, and areas of application; [6] see next section. In the US, a structured "program" is often offered within the College of Arts and Sciences. [7] [8] [6] [9] [10] In the Commonwealth, specialized BCom-Economics degrees are often offered through the commerce faculty. [11] [12] [13] [14] [15] [16] The program is often available as a social science degree. [17][18] Several universities offer a separate 1 year Honours degree, [19] and the program then comprises "3 years plus 1"; often, Honours (US, Honors) is included in the four year structure. [9] An Honours research-thesis will be required.

Under both specialized and general programs, economics is often combined with a second major in finance or management, [20] [21] [22] [5] [16] [23] or with other social sciences; [17][18] [24] in the US, economics is often combined with a quantitative subject such as math or computer science.[25] The interdisciplinary "PPE" integrates philosophy and politics with economics. Some business schools offer a joint program with the economics department; [26] [27] similarly, joint-majors are commonly offered with the mathematics department. [28] [29] [30] [31] [32]

Some universities allow that the degree as a whole may be further specialized; either in one of the applied areas, or, more common, in one of the major branches, often development economics,[33] econometrics / mathematical economics, [34] [35] [36] political economy,[37] agricultural economics,[38] or business economics.[39] Others allow this specialization at the Honours degree level. Some universities offer a "Bachelor of Applied Economics" [40] or similar, [41] which will be career-focused. Degrees in Financial Economics, [42] [43] [4] [44] integrate finance into the economics program, as opposed to via a second major.

Curriculum

Further information: Economics education § Curriculum, and Outline of economics

Typically, [6] [45] [46] [47] the core-degree comprises microeconomics, macroeconomics and econometrics; while mathematical economics is sometimes required.[14][48] Micro- and macroeconomics are taught through the "intermediate" level, preparing the student for the "advanced" postgraduate courses. Macroeconomics extends to a discussion of the more advanced models of the economy, differences here between schools, and the related policy analysis; microeconomics extends to general equilibrium, to an analytic approach to demand with curves derived from utility functions, and to game theory as applied to competition, and hence supply. Some programs then specify a course in microfoundations, where the macroeconomic models are derived by aggregating microeconomic models. Econometrics is intended to give empirical content to these economic relationships, and here focuses on the single-equation methods largely linear regression, and time series; students are trained on packages such as STATA, EViews and R.

Building on this core, are courses in the major branches of economics: monetary economics, international economics, development economics, labor economics, and welfare economics. Social science oriented degrees may emphasize economic statistics and political economy; and often do not require econometrics or mathematical economics. History of economic thought and economic history may be included in either variant.[10]

Electives [46][45] may be offered in the above branches, or in various areas of applied economics, such as agricultural economics, environmental economics, resource economics, managerial economics, and financial economics. Mathematical economics is often an elective; it is generally recommended for those intending graduate training in Economics. In the US, these students will often also study selected math-courses in multivariable calculus, differential equations, linear algebra, optimization, and sometimes analysis.[49] [50]

Co-requisite courses from outside of economics are invariably a program requirement. Common to all business programs are introductory or business statistics, and "quantitative techniques", comprising basic calculus, interest calculations, and sometimes matrix operations; the social science programs sometimes include these, and may also require credits in sociology and psychology. Some knowledge of accountancy or management may be assumed in the "applied courses"; credits in these are usually inherent in the business degree.

Most specialized programs require further "Mathematics for Economists", [51] essentially a (detailed) survey of the topics mentioned above re US students; [52] see Business mathematics § Undergraduate. Statistics is similarly extended,[53][13] often within the math course, as underpin to the econometrics coursework. The specialized BSc programs are often more math intensive than the BA programs.[1] Similarly, the Honors track will have additional math requirements.[9]

See also

References

  1. ^ a b c d e What can you do with an economics degree? Archived 2020-10-30 at the Wayback Machine, Times Higher Education
  2. ^ a b c Bureau of Labor Statistics: How to Become an Economist
  3. ^ "Bachelor of Economic Science". wits.ac.za. Retrieved 2022-12-19.
  4. ^ a b "Economics Specialist" Archived 2020-05-21 at the Wayback Machine, University of Toronto
  5. ^ a b "Economics as an expanded subject" Archived 2020-02-15 at the Wayback Machine, Bar Ilan University
  6. ^ a b c Course Information Archived 2020-04-05 at the Wayback Machine, UCLA
  7. ^ Undergraduate Program Archived 2020-05-28 at the Wayback Machine, MIT
  8. ^ Undergraduate Program Archived 2020-05-24 at the Wayback Machine, Princeton University
  9. ^ a b c Concentration Requirements[permanent dead link], Harvard
  10. ^ a b Degree Requirements[permanent dead link], The New School
  11. ^ Economics Archived 2022-10-02 at the Wayback Machine, Victoria University of Wellington
  12. ^ Undergraduate study in Economics Archived 2021-07-09 at the Wayback Machine, University of Auckland
  13. ^ a b BCom (Economic Sciences) Archived 2020-05-30 at the Wayback Machine, Stellenbosch University
  14. ^ a b BCom Economics Archived 2022-10-02 at the Wayback Machine, University of the Witwatersrand
  15. ^ Bachelor of Commerce in Economics Archived 2020-07-23 at the Wayback Machine, University of South Africa
  16. ^ a b ECONOMICS Archived 2020-04-16 at the Wayback Machine, University of Western Australia
  17. ^ a b BA (Honours) Social Sciences (Economics) Archived 2020-03-15 at the Wayback Machine, Open University
  18. ^ a b Bachelor of Social Science Degree Majoring in Economics Archived 2018-08-21 at the Wayback Machine, University of Cape Town
  19. ^ Bachelor of Economics (Honours), Australian National University
  20. ^ "Bachelor of Economics [BEcon]". University of Hong Kong. Archived from the original on 2018-10-16. Retrieved 2018-10-17.
  21. ^ Economics and Management Archived 2022-05-09 at the Wayback Machine, University of Oxford
  22. ^ Bachelor of Commerce, University of the South Pacific
  23. ^ "Economics, Management, Finance and the Social Sciences" Archived 2021-12-22 at the Wayback Machine, University of London
  24. ^ Major in Business, Economics, and Society and Major in International Political Economy, Colorado College
  25. ^ Wendy A. Stock (2017). Trends in Economics and Other Undergraduate Majors Archived 2020-02-20 at the Wayback Machine. American Economic Review, vol. 107, no. 5, May 2017 (pp. 644-49)
  26. ^ BS in Economics Archived 2020-06-03 at the Wayback Machine, Wharton
  27. ^ BA(Hons) in Economics and Management Archived 2020-06-12 at the Wayback Machine, Saïd Business School
  28. ^ B.S. in Joint Mathematics-Economics Archived 2020-06-15 at the Wayback Machine, UCSD
  29. ^ Economics and Mathematics Archived 2022-10-02 at the Wayback Machine, Yale University
  30. ^ Mathematics and Economics BSc Archived 2020-06-15 at the Wayback Machine, University of Nottingham
  31. ^ Applied Math/Economics Archived 2020-08-12 at the Wayback Machine, Harvard
  32. ^ Math Econ Major, Colorado College
  33. ^ BSc Development Economics Archived 2020-09-28 at the Wayback Machine, SOAS
  34. ^ BSc Econometrics and Mathematical Economics[permanent dead link], London School of Economics
  35. ^ BCom Honours Econometrics Archived 2021-04-12 at the Wayback Machine, University of Johannesburg
  36. ^ Major in Mathematical Economics Archived 2020-06-14 at the Wayback Machine, University of Kentucky
  37. ^ Bachelor in Political Economy Archived 2021-06-28 at the Wayback Machine, Norwegian University of Science and Technology
  38. ^ B.S. Agricultural Economics: Applied Economics Archived 2022-10-02 at the Wayback Machine, University of Idaho
  39. ^ Business Economics, B.S., University of Wyoming
  40. ^ Bachelor of Applied Economics Archived 2020-06-08 at the Wayback Machine, Massey University
  41. ^ Undergraduate Program in Applied Economics & Management Archived 2020-06-04 at the Wayback Machine, Dyson, Cornell
  42. ^ Financial Economics BSc (Hons) Archived 2020-05-21 at the Wayback Machine, City University - London
  43. ^ Financial Economics (BSc) Archived 2020-05-15 at the Wayback Machine, Birkbeck
  44. ^ Bachelor of Science in Financial Economics Archived 2020-05-21 at the Wayback Machine, UMBC
  45. ^ a b "Economics Major and Minor" Archived 2020-01-28 at the Wayback Machine, University of Pittsburgh
  46. ^ a b Economics Major Archived 2022-10-02 at the Wayback Machine, Stanford University
  47. ^ Bachelor of Economics - Degree Structure Archived 2020-05-19 at the Wayback Machine, University of Adelaide
  48. ^ BCom with specialisation in Economics Archived 2020-09-19 at the Wayback Machine, University of the Free State
  49. ^ Courses and Requirements: Economics Archived 2020-06-26 at the Wayback Machine, Hamilton College
  50. ^ BA Economics Major Archived 2022-07-07 at the Wayback Machine, University Of Colorado Boulder
  51. ^ Open textbooks include:
  52. ^ See for example these sequences. UQ: i Archived 2020-06-12 at the Wayback Machine, ii Archived 2020-06-12 at the Wayback Machine, iii Archived 2020-06-12 at the Wayback Machine; UCT: i[permanent dead link], ii[permanent dead link], iii Archived 2020-09-24 at the Wayback Machine. The final in both cases is at masters level and includes analysis. Some universities - UJ, for example - title the sequence "Quantitative Economics".
  53. ^ BA Economics Archived 2020-09-27 at the Wayback Machine, SOAS