Business Economics is a field of economics that focuses on studying how limited resources are used to achieve the economic goals of companies and organizations. These major combines economic concepts and economic theory with practical business applications for analyzing and making economic decisions within companies.

Fields of study in business economics:
Microeconomics:

• Supply and Demand Theory: The study of how supply and demand interact to determine prices and quantities in the market.
• Consumer Behavior: Understanding how individuals make purchasing and consumption decisions.
• Production and cost theory: Analyze how companies produce goods and services and determine production costs.

Macroeconomics:

• Economic Growth: Study of the factors that affect economic growth in the long run.
• Inflation and unemployment: Understanding the causes of inflation and unemployment and their impact on the economy.
• Economic policies: Analyze the impact of government policies on the macroeconomy.

Market Analysis:

• Market Structure: Study of market types such as perfect competition, monopoly, and oligopoly.
• Market Strategies: Developing strategies to enter and compete in new markets.

Finance and Investment:

• Asset and Liability Management: The study of how companies manage their assets and liabilities to achieve their financial goals.
• Investment Analysis: Evaluating the feasibility of various investments and identifying the best investment opportunities.

International Trade:

• International Trade Theory: Understanding how goods and services are exchanged between countries.
• Trade Policies: Study of the impact of trade policies such as tariffs and trade restrictions on the economy.

Labor Economics:

• Labor supply and demand: Analysis of how wages and quantities are determined in the labor market.
• Employment and Unemployment: Study of the factors that affect employment and unemployment.

Business Management:

• Business Strategies: Develop and implement business strategies to achieve organizational goals.
• Operations Management: Improving internal corporate processes to increase efficiency and productivity.

Required skills:

• Extensive scientific knowledge: in the fields of economics, management and finance.
• Analytical skills: Ability to analyze economic data and make data-based decisions.
• Problem-solving skills: Ability to identify economic problems and develop effective solutions.
• Communication skills: to convey economic ideas clearly and interact with work and management teams.
• Critical Thinking: To critically evaluate economic theories and practical applications.

Work fields:

• Companies and institutions: Work as an economic analyst or economic consultant to provide economic analyzes and recommendations.
• Governmental bodies: developing economic policies and working in ministries and government institutions.
• Banks and financial institutions: providing financial and investment analyzes and asset management.
• Universities and research centers: teaching business economics and conducting academic research.
• International Organizations: Work with international organizations such as the World Bank and the International Monetary Fund to provide economic analysis and advice.

Importance of Business Economics:

• Improving decision making: It helps improve the quality of economic decisions within companies and institutions.
• Increased economic efficiency: It contributes to increasing economic efficiency by improving resource management.
• Market Analysis: Provides the tools necessary to understand market dynamics and develop competitive strategies.
• Supporting economic growth: Contributes to supporting economic growth through analyzing and developing effective economic policies.

Business economics applications:

• Cost-Benefit Analysis: Evaluating the costs and benefits of new projects and investments to make informed decisions.
• Developing business strategies: Designing and implementing strategies to enter new markets and compete effectively.
• Economic policy analysis: providing analyzes and recommendations related to government economic policies.
• Asset and Liability Management: Develop strategies for managing assets and liabilities to achieve financial goals.

The Business Economics major provides valuable analytical tools and skills to analyze and understand the economics within institutions and companies, which contributes to improving economic performance and achieving organizational goals.