At the crossroads of economic theory and managerial practice lies the discipline of Managerial Economics. In today’s highly competitive and quickly-evolving world of finance and business, the business leader with a strong education and experience in Managerial Economics will continue be in high demand for organizations desiring to stay financially viable in today’s world market. One reason why Managerial Economics is so important deals with the balance between the two factors it is comprised of.
Managers who lack a working knowledge in the areas of microeconomics, cost of capital, and rate of return may find themselves struggling to make competent decisions based on data analysis and forecasting. At the other end of the spectrum, professionals attempting to thrive in managerial positions with only an economic or accounting background may lack the ability to manage a staff efficiently, communicate effectively to a board of trustees, or inspire a team to complete projects on time and remain under budget. Now more than ever, the scope of global business benefits from properly trained and aptly-experienced business leaders who can function as problem-solvers and decision-makers within the massive realm of business leadership.
Many of the important business principles that make up the Managerial Economics discipline are developed and offered through an online Master’s of Business Administration with a concentration in Managerial Economics. While an MBA has now become the standard business-preparation degree, an online MBA offers the business professional the convenience and flexibility found nowhere else in education. This type of degree allows a working professional the ability to complete coursework during evenings and weekends without having to relocate to a business school, thus sacrificing a position within an organization a professional has worked hard to retain. Another advantage to this type of degree is the instant-benefit a manager gets to enjoy by applying the processes and principles acquired through this program in a real-world setting. Here are just a few of the nation’s best online MBAs in Managerial Economics.
Southern Illinois University’s Carbondale College of Business located in Carbondale, Illinois, delivers a 42-credit hour online Master’s of Business Administration with a specialization in Agribusiness Economics. This distance program is bolstered by the business school’s exemplary business accreditation through the Association to Advance Collegiate Schools of Business. As a student within this program, you will “develop your critical thinking skills through in-depth analysis of business problems, strengthen your communication skills through class discussions, written assignments and required multimedia, digital presentations, and increase your comprehension of environmental variable affecting organizational performance.” While this cohort-based degree has been designed to be completed in under two years, business professionals with at least five years’ experience can waive all prerequisite courses. Courses within this high-quality program include Agribusiness Economics Research Methodology, Agricultural Development, Resource Allocation in the Agribusiness Firm, and Problems and Policies of the Agricultural Sector.
Another dynamic program which has recently been reformatted to be delivered as a 100% online MBA in Economics is offered through the Raj Soin College of Business at Wright State University. This degree offers flexibility and convenience for the distance learner as it can be completed in as few as two years or as long as five years depending on the student’s professional and personal schedule. Stressing the sound business principles of teamwork and accountability, this degree has been designed on a cohort-based model which encourages strong networking and project synergy. Students with the proper academic experience can waive prerequisite courses and complete all requirements for this degree by taking as few as 33-credit hours. This program is divided between 21 core credits, nine Economics-intensive credits, and a capstone experience of three credits.
An online MBA in managerial economics can expand career opportunities in a multitude of fields, like Agribusiness, Banking, Government, Consulting, Manufacturing, and Insurance. This degree helps professionals to make informed analyses for organizations, combined with the managerial experience to effectively manage a team. This dual approach gives professionals a competitive advantage, making them valuable to organizations who desire both a healthy workforce and financial bottom-line.