Apply economic reasoning to firm strategy and changing market conditions.
Business Economics applies economic reasoning and evidence to understand how firms operate, compete, and respond to changing market conditions. Courses in pricing strategy, managerial economics, labor markets, trade, urban economics, and environmental policy build the analytical toolkit a business uses in an urban market. Many of these courses connect directly to local organizations through applied projects, which give students opportunities to communicate findings to business and community audiences.
Coursework in this concentration focus on the direct application of economic concepts that help inform business decisions-making. For example, as part of study of industrial behavior, students employed Porter’s Five Forces framework to construct a competitive analysis of real-world industries. Additionally, students have constructed economic forecasts of Omaha, and other comparative metropolitan economies. These reports were made available to Omaha-area businesses and other community stakeholders and have even been showcased on local news media.
Concentration Learning Goals:
- Applied Pricing Strategies: Evaluate market conditions to construct optimal pricing across product lines.
- Analysis of Market Entry and Facility Location Strategies: Evaluate market conditions to inform management on market expansion decisions.
- Capacity and Resource Allocation Strategies: Build models to profitably direct resources to specific production levels, inventory management, and address distribution bottlenecks.
- Demand Forecasting: Predict consumer behavior, set sales goals, and evaluate new product success.
Select 3 courses from below:
| Course Number | Course Title | Credits |
|---|---|---|
| ECON 8080 | Money and Financial Institutions | 3 |
| ECON 8210 | Applied Managerial Economics | 3 |
| ECON 8216/4210 | Industrial Organization | 3 |
| ECON 8246/4240 | Labor Economics | 3 |
| ECON 8310 | Business Forecasting | 3 |
| ECON 8336/4330 | Environmental Economics and Sustainability | 3 |
| ECON 8576/4570 | Economic Conditions Analysis | 3 |
| ECON 8616/4610 | International Trade | 3 |
| ECON 8940 | Economic Internship | 3 |
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