Bachelor of Science in Economics Degree
Learn Foundational Skills and Modern Theories Used in the Economics Industry
A Bachelor of Science in Economics degree from Grand Canyon University (GCU) can provide you with the knowledge to strategically leverage economic decisions, allocate resources and solve complex issues regarding business challenges.
As an economics major, you can study mathematical models and statistical techniques, and insight into incentives that affect human behavior, markets and economies. You can work to gain an understanding of economic concepts and frameworks by studying data, observing patterns and drawing logical conclusions.
In a bachelor’s in economics program, you will be taught to:
- Understand and predict how market trends impact business
- Evaluate the impact (or bottom line) of an economic environment
- Collect and analyze data
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Study Current Strategies and Concepts Used in Business, Finance and Economics
In this BS economics degree at GCU, you will be taught basic concepts of finance, as well as study the oversight and creation of the money, banking, credit, investments, assets and liabilities that make up financial systems. This program teaches a combination of economic theory, data analysis and critical thinking skills that can help you when faced with economic business problems.
The bachelor’s in economics curriculum is built around theoretical reasoning and the analysis of economic problems. With this, you can expect to study what makes the economy function. You will look at the tools needed to understand our increasingly interconnected world by exploring human behaviors such as labor supply, healthcare choices and consumption patterns, while also assessing the links between interest rates, inflation and unemployment levels. You will also have the opportunity to strategically analyze industry research and data related to business needs and apply critical thinking to create ethical and optimal business solutions.
Study Analytical and Business Decision-Making Skills as an Economics Major
GCU’s on campus and online economics courses are taught by knowledgeable faculty. Through this 120-credit program, you will learn key competencies, including:
- Business communication and critical thinking skills
- Information literacy and data analysis
- Business operations and environments
- Legal, ethical and values-driven business
- Theory and practice of economics
As a Christian university, GCU believes business can and should be run professionally, morally and ethically to drive our society’s economy. GCU’s economic educators teach you to articulate and guide companies with a Christian worldview and to remain rooted in professional standards of honest and faithful decision-making.
Career Paths for Graduates With a Bachelor’s in Economics
Economics courses can prepare you for careers in business and government, including industries such as healthcare, finance and e-commerce. Economists are needed in almost every aspect of business, so individual interests may drive the direction in which graduates seek work. The U.S. Bureau of Labor Statistics Occupational Outlook Handbook estimates job growth for economists to increase by about 6% from 2021 to 2031, as fast as average, accounting for an estimated increase of 1,000 jobs in the field.1
Business economics graduates can be prepared to pursue careers such as:
- Manager
- Economist
- Survey researcher
- Social science research assistant
- Economics teacher (postsecondary)
- Secondary school teacher (except special and career/technical education)
After graduating, you may also choose to continue your education further by enrolling in a graduate program in economics or finance.
Earn Your Economics Degree From an Accredited University
Since 1968, GCU has continuously met the high standards of accreditation set by the Higher Learning Commission (HLC). Accreditation reflects the fact that the quality of the university and its academic programs meet a specific criteria or standards, offering both online and on-campus modalities.
BS in Economics Program FAQs
If you’re interested in earning your BS economics degree, our frequently asked questions below can provide with some more information on this degree path and pursuing a job in this field.
Whether a BA or BS in Economics is better suited for you depends on which direction you wish to take your career. A BA degree will focus more on theories and practical applications of economics, while a BS is more scientifically based with a focus on math. However, both degrees will cover foundations of economics and most likely have a similar curriculum structure.
This economics program is math oriented. Mathematical economics is the application of calculated methods to represent theories and analyze problems in the economic world. The types of math used by an economics major are primarily algebra, calculus and statistics, which develop confidence in problem-solving.
Economists often have specialized skills in consulting and finance. A bachelor’s in economics may provide economics majors the opportunity for many career options, such as positions in finance, accounting and management. If you’re looking to further increase your potential employability or earnings potential, consider pursuing a business master’s program at GCU.
The analytical and business decision-making skills that an economics major can develop in this degree online can prepare you for a career using economic theory, data analysis and critical thinking skills. According to the U.S. Bureau of Labor Statistics, economists have a median annual wage of $105,630 as of May 2021.2 After earning an economics degree, many graduates choose to advance their career even further with a graduate degree in business, law or public policy.
If you are interested in learning how to drive critical business decisions using the foundations of economics, a degree in economics may be the right path for you. Learn more about the Bachelor of Science in Economics degree online and on campus by filling out the form on this page.
1 COVID-19 has adversely affected the global economy and data from 2020 and 2021 may be atypical compared to prior years. The pandemic may impact the predicted future workforce outcomes indicated by the U.S. Bureau of Labor Statistics as well. Accordingly, data shown is effective September 2022, which can be found here: U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, Economists, retrieved on June 22, 2023.
2 The earnings referenced were reported by the U.S. Bureau of Labor Statistics (“BLS”), Economists as of May 2021, retrieved on June 22, 2023. Due to COVID-19, data from 2020 and 2021 may be atypical compared to prior years. The pandemic may also impact the predicted future workforce outcomes indicated by the BLS. BLS calculates the median using salaries of workers from across the country with varying levels of education and experience and does not reflect the earnings of GCU graduates as economists. It does not reflect earnings of workers in one city or region of the country. It also does not reflect a typical entry-level salary. Median income is the statistical midpoint for the range of salaries in a specific occupation. It represents what you would earn if you were paid more money than half the workers in an occupation, and less than half the workers in an occupation. It may give you a basis to estimate what you might earn at some point if you enter this career. You may also wish to compare median salaries if you are considering more than one career path. Grand Canyon University can make no guarantees on individual graduates’ salaries as the employer the graduate chooses to apply to, and accept employment from, determines salary not only based on education, but also individual characteristics and skills and fit to that organization (among other categories) against a pool of candidates.
General Education Requirements
General Education coursework prepares Grand Canyon University graduates to think critically, communicate clearly, live responsibly in a diverse world, and thoughtfully integrate their faith and ethical convictions into all dimensions of life. These competencies, essential to an effective and satisfying life, are outlined in the General Education Learner Outcomes. General Education courses embody the breadth of human understanding and creativity contained in the liberal arts and sciences tradition. Students take an array of foundational knowledge courses that promote expanded knowledge, insight, and the outcomes identified in the University's General Education Competencies. The knowledge and skills students acquire through these courses serve as a foundation for successful careers and lifelong journeys of growing understanding and wisdom.
Requirements
Upon completion of the Grand Canyon University's University Foundation experience, students will be able to demonstrate competency in the areas of academic skills and self-leadership. They will be able to articulate the range of resources available to assist them, explore career options related to their area of study, and have knowledge of Grand Canyon's community. Students will be able to demonstrate foundational academic success skills, explore GCU resources (CLA, Library, Career Center, ADA office, etc), articulate strategies of self-leadership and management and recognize opportunities to engage in the GCU community.
Course Options
- UNV-103, University Success: 4
- UNV-303, University Success: 4
- UNV-108, University Success in the College of Education: 4
Requirements
Graduates of Grand Canyon University will be able to construct rhetorically effective communications appropriate to diverse audiences, purposes, and occasions (English composition, communication, critical reading, foreign language, sign language, etc.). Students are required to take 3 credits of English grammar or composition.
Course Options
- UNV-104, 21st Century Skills: Communication and Information Literacy: 4
- ENG-105, English Composition I: 4
- ENG-106, English Composition II: 4
Requirements
Graduates of Grand Canyon University will be able to express aspects of Christian heritage and worldview. Students are required to take CWV-101/CWV-301.
Course Options
- CWV-101, Christian Worldview: 4
- CWV-301, Christian Worldview: 4
Requirements
Graduates of Grand Canyon University will be able to use various analytic and problem-solving skills to examine, evaluate, and/or challenge ideas and arguments (mathematics, biology, chemistry, physics, geology, astronomy, physical geography, ecology, economics, theology, logic, philosophy, technology, statistics, accounting, etc.). Students are required to take 3 credits of intermediate algebra or higher.
Course Options
- MAT-154, Applications of College Algebra: 4
- MAT-144, College Mathematics: 4
- PHI-105, 21st Century Skills: Critical Thinking and Problem Solving: 4
- BIO-220, Environmental Science: 4
Requirements
Graduates of Grand Canyon University will be able to demonstrate awareness and appreciation of and empathy for differences in arts and culture, values, experiences, historical perspectives, and other aspects of life (psychology, sociology, government, Christian studies, Bible, geography, anthropology, economics, political science, child and family studies, law, ethics, cross-cultural studies, history, art, music, dance, theater, applied arts, literature, health, etc.). If the predefined course is a part of the major, students need to take an additional course.
Course Options
- HIS-144, U.S. History Themes: 4
- PSY-102, General Psychology: 4
- SOC-100, Everyday Sociology: 4
Core Courses
Course Description
This course provides the foundation of core knowledge within the field of information technology. Topics include technology-centric organizations, the type and role of fundamental information technology systems, data management to include privacy and security, e-business and m-business, hardware, software, and computer networks.
Course Description
This course is an introduction to the accounting cycle and the construction of financial statements. Students explore the fundamental principles and practices of financial accounting as outlined by Generally Accepted Accounting Principles (GAAP); the steps in the accounting cycle from journalizing transactions through the preparation of financial statements; and the use and interpretation of the balance sheet, income statement, and statement of cash flows. Prerequisite: MAT-134, MAT-144, MAT-154, or higher subsequent math course.
Course Description
This course provides an introduction to the practical application of descriptive and inferential statistics in business. Topics include probability, probability distributions, the central limit theorem, confidence intervals, hypothesis testing, correlation, and regression. Prerequisite: MAT-134, MAT-144, MAT-154, or higher subsequent math course.
Course Description
This course is an introduction to the use of managerial accounting data in the decision-making process. Topics include the use of cost-volume-profit (CVP) analysis and relevant costs in decision making, using budgets and the balanced scorecard to evaluate performance, methods for setting prices of products and services, and analyzing capital investment opportunities. Prerequisite: ACC-250.
Course Description
This course focuses on the fundamental ideas of microeconomics. Students examine the market forces of supply and demand under different market structures in order to understand how economic agents make decisions about both consumption and production. The structure, conduct, and performance of markets are evaluated through analysis of consumer, producer, and societal welfare. Students explore the topic of factor markets in which the incomes of most workers and owners of capital and property are determined. Prerequisites: ACC-240 or ACC-250 and BUS-352.
Course Description
This course introduces models and practices used by contemporary marketers in fast-paced, dynamic, domestic and global markets, including the marketing concept and processes for developing, implementing, and assessing the effectiveness of marketing plans. Building from a foundational understanding of consumer behavior and marketing research, students examine the development and implementation of marketing mix strategies and tactics with an emphasis of how marketing integrates within all aspects of business.
Course Description
This course focuses on the national economy by examining macroeconomic data measuring national income, the cost of living, production and growth, and unemployment. Students examine the basic functions of the monetary system and analyze the macro economy in terms of long-run economic productivity and growth and in terms short-run fluctuations. The influence and effect of macroeconomic policy is studied within the context of current events. Prerequisite: ECN-361.
Course Description
This course develops the concepts of calculus through a wide variety of applications. Topics include limits, continuity, derivatives, antiderivatives, and integration. Prerequisite: MAT-154.
Course Description
This course is an introduction to managerial finance and the financial markets, analysis of financial statements, time value of money, interest rates, asset valuation, assessment of risk, cost of capital, and capital budgeting. Prerequisites: ECN-220, ECN-351, or ECN-361; and ACC-240 or ACC-250.
Course Description
This course is an analysis of the price mechanism and its role in resource allocation and output in terms of efficiency and economic welfare. Topics include consumer choice and demand, utility, theories of production and cost, and market structures. This course builds upon the fundamental principles of microeconomics combined with the tools of mathematical optimization and uses economic theories and models to analyze business scenarios and current events. Prerequisites: ECN-361 and MAT-251.
Course Description
This course is an analysis of the determinants of the level of national income, employment, production and productivity, and price level determination. Topics include the effects of economic policy instruments and decisions on aggregate economic performance goals and the role of fiscal and monetary policy in promoting stability, investment, and growth. This course builds upon the basic concepts of macroeconomics and uses economic models to analyze business scenarios and current events. Prerequisites: ECN-362 and ECN-461.
Course Description
Drawing upon real-world management situations, this course is a study of individual and group behavior in organizations through detailed coverage of the functions of management, individual differences/diversity, leadership, motivation, decision making, organizational design, and organizational change and development. Emphasis is placed on how an understanding of organizational behavior leads to effective management practice.
Course Description
This writing-intensive course is a comprehensive study of the legal and ethical issues of concern to business, including those areas of the U.S. legal system that are most relevant to business, such as the law of torts, strict liability, intellectual property, and contract law. It explores the role of ethics and values in business decision making and approaches these subjects from the perspective of the stakeholders as opposed to an economic interpretation of the firm and its responsibilities.
Course Description
This course is an examination of the role of government and market systems in modern economies using the tools of economic analysis to evaluate major public policy decisions. Policies will be evaluated in terms of impact on individual consumers and firms and the resulting impact on economic growth. The theory and rationale of government taxing, debt, and spending will be examined, as well as the effects of government activity on income distribution, resource allocation, and economic efficiency. Students develop analytical and critical thinking skills needed for defining policy issues, identifying alternative solutions, and predicting the potential impact of policy on the economy. Prerequisite: ECN-461.
Course Description
This course provides a study of interrelationships between the international monetary environment and financial planning for corporations with overseas operations. The topics covered include the international monetary system, the foreign exchange market, managing exchange exposure, political risk management, import/export financing, and international performance evaluation. Prerequisites: FIN-350 and either ECN-362 or ECN-351.
Course Description
This course is an overview of the modern monetary system as the informal infrastructure for a dynamic and decentralized global economy. Students examine this system by looking at a variety of markets where deal making activities take place between central banks, traditional banks, and "near banks" that act as dealmakers in both capital and money markets by supplying liquidity to the system. Innovative central bank policies and activities intended to stabilize the system are discussed. Prerequisites: ECN-362 and FIN-350.
Course Description
This course is an introduction to basic econometric methods including regression analysis, estimation, hypothesis-testing, and prediction modeling in the analysis of economic data. This course helps develop critical thinking and methodological skills necessary for economic analysis of data and evaluation of policies. Prerequisite: ECN-462.
Course Description
This writing-intensive course serves as the capstone experience in business and management, introducing students to functional, business, and corporate strategy from the perspective of a strategy analyst. Tools and techniques are applied to the student’s previous knowledge of accounting, finance, management, analytics, marketing, economics, entrepreneurship, and leadership acquired through their individual programs of study. Students integrate strategic analysis to demonstrate mastery of a wide variety of business domains. Prerequisites: MGT-420 or MGT-422HN; FIN-210 or FIN-350; and MKT-245 or MKT-315.
Join Grand Canyon University’s vibrant and growing campus community, with daytime classes designed for traditional students. Immerse yourself in a full undergraduate experience, complete with curriculum designed within the context of our Christian worldview.
Pursue a next-generation education with an online degree from Grand Canyon University. Earn your degree with convenience and flexibility with online courses that let you study anytime, anywhere.
* Please note that this list may contain programs and courses not presently offered, as availability may vary depending on class size, enrollment and other contributing factors. If you are interested in a program or course listed herein please first contact your University Counselor for the most current information regarding availability.
* Please refer to the Academic Catalog for more information. Programs or courses subject to change.