Interpretations of Business Economics From Various Universities
Many universities offer courses in Business Economics and offer a range of interpretations as to the meaning of the term. The program at Harvard University uses economic methods to analyze practical aspects of business, including business administration, management, and related fields of business economics.
The University of Miami defines Business Economics as involving the study of how we use our resources for the production, distribution, and consumption of goods and services. This requires business economists to analyze social institutions, banks, the stock market, the government and their relationships with labor negotiations, taxes, international trade, and urban and environmental issues.
Courses at the University of Manchester interpret Business Economics to be concerned with the economic analysis of how businesses contribute to welfare of society rather than on the welfare of an individual or a business. This is done via an examination of the relationship between ownership, control and firm objectives; theories of the growth of the firm; the behavioural theory of the firm; theories of entrepreneurship; the factors that influence the structure, conduct and performance of business at the industry level.
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