Business Economics Course: Business Economics is one of the popular courses under the management stream. Business Economics is a part of Applied Economics. Business Economics discusses different corporate issues like organizational, financial, market-related, and environment-related. It helps in solving these issues with quantitative methods and economic theory. Business Economics provides information on subjects such as distribution, product factors, scarcity, and consumption. Managerial Economics is one of the essential parts of Business Economics. The principles of Managerial Economy is focussed on influencing and guiding a firm about corporate strategies for better outcome of the firm. In this article, you will get complete details about the Business Economics course.
Get to Know More about other types of Course Details in Stream wise, and Category wise.
About Business Economics Course
Business Economics can be studied at both undergraduate and postgraduate levels. The undergraduate courses on Business Economics are for three years, whereas the postgraduate courses in Business Economics are for two years. Business Statistics is one of the core subjects of Business Economics because it helps to understand an organization’s current situation and suggests possible solutions when a problem arises. Candidates get comprehensive knowledge of Economics and Finance through this course. These two subjects are essential for any organization. Business Economics helps the students in thinking critically, researching, and analyzing. There is a wide range of job opportunities for students who have done a course in Business Economics. These professionals are offered handsome salary packages in India by many national and multinational organizations.
Types of Courses in Business Economics
Business Economics is available in undergraduate, postgraduate, and certification courses. Some popular undergraduate-level programs that you can pursue in Business Economics are:
- Bachelors in Business Economics
- BA (Hons) in Business Economics
- BCom in Business Economics
- BA (Hons) in Business and Economics
- BCom (Hons) in Business Economics
- BBA Business Economics
Some popular postgraduate-level programs for Business Economics courses are:
- MBA in Business Economics
- MBE in Business Economics
- MA in Business Economics
- Master in Business Economics
- Integrated Post Graduate Diploma in Business Economics
- MA in Applied Economics
Business Economics Course Details
| Course Level | Graduation/Postgraduation/Certification |
| Course Duration | Graduation: 3 years Postgraduation/Certification: 2 years |
| Type of Examination | Semester type |
| Eligibility Criteria | Graduation: 10+2 from a recognized board
Postgraduation/Certification: Graduation from a recognized board |
| Admission Process | Entrance exam or direct admission based on the last examination’s result |
| Course Fee | 10,000 rupees to 5 lakhs rupees |
| Average Starting Salary | 3.5 to 7 lakhs per annum |
| Top Recruiting Areas | Research and Business Development Hubs, Corporate Sectors, Financing Sectors, Stock Markets, Banking Sectors, Consultancy Services, Colleges & Universities, and Insurance Companies |
| Job Positions | Business Development Executive, Business Planning & Finance Analyst, Economics, Business Manager, Business Economics Associate, Teacher & Tutor, Business Analyst, Economics Business Analyst, Business Analyst, and Medical Economics Manager |
Skillset Required for Business Economics Course
Candidates willing to do a course in Business Economics must have good mathematical knowledge. As this course is involved much with businesses, candidates should possess good communication skills. Candidates from commerce background are best suitable for this course. It is because this course has subjects such as Finance, Economics, and Statistics. Some of the prerequisites that candidates should have are discussed below:
- Problem-solving skills
- Hardworking
- Confidence
- Good observation skills
- Organizational skills
- Logical thinking
- Intellectual curiosity
- Ability to write quickly
- Research skills
- Patience
Business Economics Course Duration
The duration of undergraduate degree programs in Business Economics is three years. The duration of postgraduate degree programs and certification courses in Business Economics is two years.
Business Economics Course Eligibility Criteria
Candidates willing to get admission to the Business Economics undergraduate degree program secure a minimum of 50 percent marks in aggregate in class 12 board examinations. Candidates belonging from reserved categories may apply with 45 percent marks in aggregate in class 12 board examination. Though students from any stream can apply for this course, most institutions prefer students from commerce backgrounds.
Candidates interested in getting admission to Business Economics postgraduate degree or certification program should secure at least 50 percent marks in total in a bachelor’s degree in any discipline. Candidates should get a minimum of 45 percent marks in Economics in the undergraduate programs. Final year students awaiting results can also apply for the course, but the institution will confirm after submitting a copy of the result.
Business Economics Course Admission Procedure
The majority of the institutions offer Business Economics degree and certification courses based on an entrance examination. Despite that, a few institutions provide direct admission based on the merit obtained in the examination. Some institutions take personal interviews before affirming admission. You should check your preferred organization’s authentic website for complete details about their admission procedure.
Entrance-Based Admission Procedure
Many institutions prefer taking an entrance examination as a process of admission in the Business Economics course. There are various entrance examinations in India to get admission to the Business Economics course. Some of the top-level entrance examinations for the Business Economics course are discussed below:
- Lady Shri Ram College for Women Entrance Exam
- Loyola College Entrance Exam
- Christ University Entrance Exam
- Miranda House College Entrance Exam
- Presidency College Entrance Exam
- Madras Christian College Entrance Exam
- Hindu College Entrance Exam
- Hans Raj College Entrance Exam
- Fergusson College Entrance Exam
- Ramjas College Entrance Exam
- Jesus And Mary College Entrance Exam
- Presidency University Entrance Exam
- Jai Hind College Entrance Exam.
Merit-based Admission Procedure
Some institutions offer direct admission in Business Economics based on the merit obtained in the last examination. Most of the institutes prefer a minimum of 50 percent marks in aggregate in class the last examination. Candidates from reserved categories ( SC/ ST/ OBC ) can apply with at least 45 percent marks in aggregate in the previous examination. For postgraduate programs, candidates should get a minimum of 45 percent marks in Economics.
Business Economics Course Fee Structure
The course fee of the Business Economics undergraduate/postgraduate/certification course varies from 10000 rupees to 5 lakhs rupees. However, the course fee depends on the type of course, the institution’s reputation, and location. The fee structure is comparatively lower in government institutions than private schools.
Business Economics Course Syllabus
The syllabus of the Business Economics course is mentioned in the chart below. However, this is just an overall idea about the subjects and topics covered in the Business Economics course. The actual syllabus of a college may differ slightly.
Business Economics Course (Undergraduate Level)
| Course | Syllabus |
| Bachelors in Business Economics | Economics of Firm Strategy
Economics of Money and Banking Managerial Economics Basic Financial Accounting Entrepreneurial Development Statistics for Business Analysis Marketing Macro Economics Fiscal Economics International Economics Indian Economy and Economic Reforms Human Resource Development Financial Markets Electives |
| BA (Hons) in Business Economics | Microeconomics – 1
Statistics for Business Economics Fundamentals of Business & Accounting Business Communication Microeconomics – II Mathematics for Business Economics Legal Aspects of Business Marketing Management Macroeconomics – 1 Industrial Economics Business Finance Basic Econometrics Macroeconomics – II Organizational Behaviour Quantitative techniques for Management Indian Financial System Indian Economy Computational Techniques for Business Economics Elective Paper – Investment Management Elective Paper – Consumer Behaviour Elective Paper – Advanced Econometrics Elective Paper – International Economics Elective Paper – Project Management Environment Economics Business Strategy & Ethics Elective Paper – International Finance Management Elective Paper – Advertisement & Branding Elective Paper – Advanced Mathematical Techniques Elective Paper – Economic Growth & Policy Elective Paper – Entrepreneurship and Family Business |
| BCom in Business Economics | English Language
Regional Languages: Kannada/ Sanskrit/ Urdu/ Tamil/ Telugu/ Marathi/ Hindi Financial Accounting Principles of Management Business Mathematics Business Economics Human Resources Management Business Statistics English and Business Communication Corporate Accounting Marketing Management International Business Environment Indian Financial System Indian Constitution Financial Management Law and Practice of Banking Cost Accounting Computer Fundamentals Methods & Techniques of Cost Accounting Income Taxes Entrepreneurship Development Programme Computer Business Applications Business Laws Management Accounting Services Management |
| BBA Business Economics | Nature and Scope of Managerial Economics
Demand Analysis Meaning of Demand Production and Cost Analysis Pricing Methods and Strategies Full Cost Pricing Market Classification Profit and Profit Management Capital Budgeting Project Profitability |
Business Economics Course (Postgraduate Level)
| Course | Syllabus |
| MBA in Business Economics | Management Process
Business Statistics Business Legislation Accounting for Managers Managerial Economics Economics of Industries Marketing Management Human Resource Management Financial Management Organization Behaviour Production Management Indian Economics Business Policy and Strategic Management Economics of Decision Making Computer & Management Information System Quality Management |
| MBE in Business Economics | Microeconomics Analysis
Applied Business Statistics Principals of Business Finance and Accounting Organizational Behaviour and Development Project Appraisal and Impact Analysis Legal Environment and Business Macroeconomics Analysis and Policy Industrial Economics Marketing Management International Trade and Business Economics of Natural Resources and Environment Fundamentals of Econometrics Financial Market and Intermediaries Economics of Services Strategic Management India in the Contemporary World Economy Sustainable Development and Business World Trading System Global Financial |
| MA in Business Economics | Management Concept and Processes
Managerial Economics Business Environment Financial Accounting Quantitative Methods Computer Applications in Management Business Legislation India Ethos and Values Marketing Management Human Resource Management Organizational Behaviour Research Methodology Business Communication Financial Management Management Accounting Production & Operation Management International Business Environments Operation Research E-Commerce Project Management & Entrepreneurship Economic Analysis and Policy International Financial Management Indian Financial System Rural Marketing Business Policy and Strategic Management Management Information System India’s Foreign Trade Policy Export-Import Procedures Documentation and Logistics Banking and Foreign Exchange Management Industrial Economics Macroeconomics Indian Financial Market and Services |
| Post Graduate Diploma in Economics | Mathematics
Statistics Business finance Applied Microeconomics Advanced Macroeconomics Econometrics of Business Elective Papers Dissertation |
Top Institutions Offering Business Economics Course
The top-level institutions in India that offer Business Economics course are listed below:
- University of Delhi, Delhi
- Lovely Professional University, Punjab
- JIMS, Delhi
- Amity University, Uttar Pradesh
- Goa Institute of Management, Goa
- FORE School of Management, Delhi
- Gauhati University, Assam
- Institute of Business Management, Madhya Pradesh
Career Prospects in Business Economics
After completing Business Economics, candidates can join the private or public sector. They can also be self-employed. Candidates can again go for further studies and research. Business Economics has become an essential part of global business. From startups to big organizations, every organization has shown interest in hiring candidates with a Business Economics degree to reform their business and ensure maximum profit. Candidates can also work in foreign countries after completing the Business Economics course.
Employment Areas
Business Economics course can help you land a wide range of jobs available in different industries. Some of the sectors that hire candidates with a Business Economics degree are given below:
- Research and Business Development Hubs
- Corporate Sectors
- Financing Sectors
- Stock Markets
- Banking Sectors
- Consultancy Services
- Colleges & Universities
- Insurance Companies
Job Profiles Under Business Economists
Business Economics has become an integral part of global business. So, you may explore many job opportunities after completing the Business Economics course at the undergraduate or postgraduate level. Some of the job positions offered to candidates after completing the Business Economics course are discussed below:
- Business Development Executive
- Business Planning & Finance Analyst
- Economics Business Manager
- Business Economics Associate
- Teacher & Tutor
- Business Analyst
- Economics Business Analyst
- Business Analyst
- Medical Economics Manager
Salary Prospects of a Business Economist
The salary for candidates with a Business Economics degree depends on the experience and expertise of candidates. Furthermore, it also depends on the location and reputation of the company. A fresher with a Business Economics degree gets a monthly salary of 15000 to 30000 rupees in India. An expert in this field can earn up to 12 lakhs per annum in India.
FAQ’s on Business Economics Course
Question 1.
Is the Commerce background necessary for getting an admission Business Economics course?
Answer:
No, it is not necessary. However, some institutions give preference to students from Commerce background.
Question 2.
What is the duration of the Business Economics course?
Answer:
The duration of undergraduate degree programs in Business Economics is three years. The duration of postgraduate degree programs and certification courses in Business Economics is two years.
Question 3.
Are there MBA programs in Business Economics?
Answer:
Yes, there are MBA programs in Business Economics.
Question 4.
What jobs can you get with a Business Economics degree?
Answer:
You may explore many job opportunities after completing the Business Economics course at the undergraduate or postgraduate level. Some of the job positions are Business Development Executive, Business Planning & Finance Analyst, Economics Business Manager, Business Economics Associate, Teacher & Tutor, and Business Analyst.
Question 5.
Can Arts students apply for the Business Economics course?
Answer:
Yes, students from any discipline can apply for the Business Economics course. It is better if they have studied Economics.