It also provides an understanding of how governmental policies and laws affect economic activity. The business economics major is designed for students who aspire to positions of leadership in the business world. Its purpose is not to provide vocational training in specific business functions or simply to describe current business practices. Business practices are constantly changing, and students with too specialized training may soon find their education obsolete. Rather, it provides the broad analytical skills which will be relevant to many different situations and changing business practices.
Most graduates enter management training programs of a wide variety of businesses.
In these programs they learn the specific procedures and practices of a particular company or industry. About one-fifth of the economics and business economics majors will eventually enter graduate school to pursue an M.B.A. or other degree related to business. Many graduates enter law school or seek a combined business and law degree. More and more law schools require economics of their students, and it is widely recognized that economics provides one of the best backgrounds for the study of law.