A business economist is an expert in economics and can work in any field of financial interest, private or government. As an expert in the social science of economics, you may specialize in business, law, sociology or even the history of economics. A business economist can work as a consultant for a private business or an employee of the government or even in the employment of a diplomat. Business economists study and develop different theories that aid the company or individual that they work for. With expertise in economics, the business economist studies data and extracts useful information for the company or entity.
Education Required to become a Business Economist
The educational requirements for becoming a business economist are like similar positions in economics. Usually the minimum to begin in the field is an Associate in Economics. Most will complete their Bachelors in Economics and progress to finish a Masters in Economics. Those who wish to pursue an academic career in economics will continue to the PhD level.
Salary Range for a Business Economist
Depending on the level of education and the number of years of experience, a business economist can expect to enter the field as a new economist with a Bachelor’s degree at around $40,000 in the government or private sector. Private industry positions usually pay more than government positions. As one’s education increases and advances are made on the job, Economists can expect to reach the higher end of the pay scale in private industry working 1-4 years in the $40-50,000 range, 5-9 years $60,000 range and increasing to near $90,000 beyond ten years.
The following are some of the schools that offer programs that can lead to becoming Business Economist:
University of Iowa - Offers a Masters program as well as a PHD program in Economics online. The program is offered through the Tippie College of Business and College of Liberal Arts and Sciences. The University of Iowa in conjunction with Tippie College of Business offers a Master of Arts as well as a Doctor of Philosophy in Economics for those directed towards the Academic Economist profession. The Master of Arts is offered only to students working towards a PhD in economics through their programs. The Doctorate in Philosophy for economics requires a minimum of 72 semester hours of graduated credit to complete. The college provides students with training in applied economics, economic theory and econometrics.
Aspen University - Aspen’s MBA in Economics program builds skills needed for the challenging business world students face. Their hands-on approach builds successful leaders and managers who are decision makers and team leaders. Their online degree program guides the professional employee with a comprehensive view that is essential for real-world business concepts. Aspen’s courses are project based and provide a unique learning as you do approach. Their available programs provided specialization in Information and Project Management focused on management, strategy and analysis in economics.
Ashford University - Students at Ashford University gain the skills necessary to accelerate their career growth with a Masters of Business Administration Degree. Ashford University helps students discover their potential by enhancing their personal and professional confidence. Students develop the real world skills needed to advance their career in the business world. Ashford’s MBA programs can be more focused when students personalize their concentrations. Each concentration can spotlight unique elements that prepare students for a wide range of responsibility. Students can choose from the following concentrations: Global Management, Finance, Entrepreneurship, Health Care and Human resources Administration/Management.
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