Bachelor of Economics at Pennsylvania State University
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    Bachelor of Economics at Pennsylvania State University

    Pennsylvania State University
    Pennsylvania State University
    United States of America
    United States of America, University Park
    University Rank:#82
    Bachelor of Economics at Pennsylvania State University

    The Economics is a Bachelor degree offered by Pennsylvania State University across its Main Site, Any Penn State Campus, Erie, University Park, and World Campus campuses in United States of America. The program is delivered on campus as a Full Time course in English and requires approximately 4 years to complete. Students study across its Main Site, Any Penn State Campus, Erie, University Park, and World Campus campuses while gaining the knowledge and practical experience expected for this area of study. The next intake is available from June 1, 2027.

    About Bachelor of Economics

    Economics is the study of how individuals, firms, and governments allocate their scarce resources. This major is designed for those who seek a broad understanding of the operation of the economic system and training in the methods and uses of economic analysis. Graduates are equipped for employment in many areas of business operations, labor unions, and agencies of government at all levels; and to undertake the graduate work necessary to become professional economists.

    You Might Like This Program If...

    • You are interested in both business and the liberal arts.
    • You want to develop skills that are applicable in a variety of industries.
    • You are a detail-oriented person.
    • You'd like to work at the on-campus Economic Research Institute of Erie (ERIE).
    • You are interested in working in the government sector or pursuing a law degree .

    The Economics major is a program of study with a liberal arts orientation. The broad liberal arts background serves as a foundation for advanced study in the methods and techniques of economic analysis. Use of mainframe and microcomputers as analytical and problem-solving tools is emphasized in the program's upper-division courses. Students may choose upper-division courses in several areas of specialization, including business cycles and forecasting, economic theory, industrial organization, international economics, labor economics, managerial economics, and regional economics.

    Critical and Integrative Thinking:

    1. Students will be able to think critically by actively considering different points of view and utilize an integrated, holistic approach to construct relevant analyses, arguments, and conclusions.
      1. Students will clearly identify the key issues in the analysis.
      2. Students will present the appropriate analytic framework or warrant.
      3. Students will identify and assess important assumptions and question their validity.
      4. Students will identify and assess the quality of supporting data/evidence & provide additional data/evidence related to the issue.
      5. Students will draw and discusses conclusions, implications, and consequences.
      6. Students will identify key business issues using an integrated approach.
      7. Students will apply appropriate holistic analyses to business issues.
      8. Students will generate solutions that incorporate an integrated perspective to business problems.

    Oral Communication:

    1. Upon graduation our undergraduate students in The Sam and Irene Black School of Business will be able to execute the oral communication skills that they have learned in the interactive business courses to business situations where effective explanation, persuasion, exchanging information and ideas are essential.
      1. Students will be able to clearly express their line of thoughts to an audience.
      2. Student will be able to show confidence in their ability to communicate with their audience.
      3. Students will be able to effectively organize their thoughts and clearly communicate their organized thoughts with their audience.
      4. Students will be able to provide accuracy of content in their communication with their audience.
      5. Students will be able to provide depth of content in their communication with their audience.
      6. Students will be able to deliver a professional quality presentation to an audience while using appropriate and supporting technology.
      7. Students will be able to have a professional appearance in front of their audience.

    Writing Competence:

    1. Students will be able to demonstrate effective writing skills.
      1. Students will organize written assignments effectively.
      2. Students will develop a clear and well-structured argument.
      3. Students will identify and provide evidence sufficient to support the argument.
      4. Students will find reliable sources and cite and reference them correctly.
      5. Students will demonstrate proper writing mechanics with respect to spelling, punctuation, and grammar.

    Teamwork:

    1. Students will be positive contributors to effective team functioning via application of their functional skills in addition to strong interpersonal skills.
      1. Students will be able to recognize the different ways in which their peers contribute to collaborative work.
      2. Students will contribute effectively to teams.
      3. Students will display good interpersonal skills in teamwork contexts.
      4. Students will learn how to interact effectively on teams.

    Ethics and Social Responsibility:

    1. Students will be able to recognize ethical issues and apply ethical theories in business situations at individual and/or organizational levels.
      1. Students will recognize ethical issues and the inter-relationships between business and society.
      2. Students will identify stakeholders affected by decisions and actions.
      3. Students will understand the consequences of decisions/actions to stakeholders.
      4. Students will analyze an ethical dilemma applying multiple ethical theories.
      5. Students will be able to correctly apply relevant ethical principles.
      6. Students will be able to recommend a plan of action.
      7. Students will be able to supported recommend action with by ethical analysis/evaluation.

    Functional Area Knowledge:

    1. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material across various business domains.
      1. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Accounting domain.
      2. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Economics domain.
      3. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Management domain.
      4. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Quantitative Business Analysis domain.
      5. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Finance domain.
      6. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Marketing domain.
      7. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Legal and Social Environment domain.
      8. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the Information Systems domain.
      9. Students will be able to apply foundational knowledge to analyze and solve problems and interpret written and visual material in the International Issues domain.

    Functional Area Knowledge (ACCOUNTING):

    1. Students will be able to demonstrate a broad general knowledge of the principles of accounting, both managerial and financial.
      1. Students will be able to perform basic financial accounting transaction analysis.
      2. Students will prepare and interpret general purpose financial statements.
      3. Students will perform financial statement analysis.
      4. Students will apply various principles of managerial accounting.

    Functional Area Knowledge (ECONOMICS):

    1. Students will be able to demonstrate a broad general knowledge of the principles of economics, both microeconomics and macroeconomics.
      1. Students will apply concepts associated with free market operations.
      2. Students will conduct decision making based on opportunity costs and marginal analysis.
      3. Students will determine consumer behavior based on various measures of elasticity.
      4. Students will interpret effects associated with the four major market structures.
      5. Students will apply the theory of comparative advantage.
      6. Students will apply the basic market and macroeconomic models to explain changes in price and quantity.
      7. Students will define, calculate, and interpret major economic indicators.
      8. Students will identify and analyze the phases of the business cycle and their characteristics, including the problems associated with each cycle  .
      9. Students will interpret the impact of fiscal policy effects on the macro economy.
      10. Students will interpret the impact monetary policy on the macro economy.
      11. Students will identity how various analytical frameworks, (e.g., classical, Keynesian, monetarist, etc.) used may affect the policy conclusions in debates over stabilization policy.
      12. Students will apply the theory of comparative advantage and the flows of financial assets principle to trade.

    Functional Area Knowledge (FINANCE):

    1. Use discounted valuation techniques to make capital investment decisions.
      1. Calculate the NPV for three scenarios (1) base case, (2) best case, and (3) worst case
      2.  Identify relevant initial CFs for NPV calculation
      3. Identify relevant operating CFs for NPV calculation
      4. Identify relevant terminal CFs for NPV calculation
      5. Create and interpret a NPV profile
      6. Analyze and accept or reject a proposed investment project.
    2. Understand the relationship between risk and return for equity and debt.
      1. Understand the trade-off between risk and return for individual assets by computing a beta and required rate of return using the CAPM (Capital Asset Pricing Model).
      2. Explain an appropriate proxy for the market rate of return for the CAPM.
      3. Explain an appropriate risk-free rate proxy for the CAPM.
      4. Calculate cost of debt or YTM of corporate bonds
    3. Determine the required return on a proposed investment.
      1. Calculate and interpret the weighted-average cost of capital (WACC) by estimating the market cost of equity and debt.
      2. Understand when WACC is appropriate as the required return to evaluate a proposed capital investment.

    Functional Area Knowledge (MIS):

    1. Students will be able to describe the benefits and challenges of applying information technology in various organizations and functional areas.
      1. Students will describe the benefits and challenges of applying information technology in various organizations and functional areas.
      2. Students will describe management issues and career paths in Information Technology.

    Functional Area Knowledge (INTERNATIONAL BUSINESS):

    1. Students will be able to will have basic multidisciplinary knowledge needed to conduct international business and understand the impact of globalization.
      1. Our students will develop an awareness of global issues and diverse cultures.
      2. Our students will be able to analyze how global factors affect decision making.
      3. Our students will be able to use information resources to formulate global strategy.

    Functional Area Knowledge (LEGAL ENVIRONMENT):

    1. Students will be able to identify key terms, concepts, and theories of the law, understand how law affects business, demonstrate an ability to analyze legal issues, and apply the law to business situations.
      1. Students will identify key terms, concepts, and theories of law.
      2. Students will analyze legal issues and apply the law to business situations.

    Functional Area Knowledge (MANAGEMENT):

    1. Students will be able to demonstrate a broad knowledge of each business discipline, including management.
      1. More particularly, students will be able to identify the correct core concepts in the context of the following 12 main topic areas:
        1. Introduction to / History of Management
        2. Managing in the Global Environment
        3. Decision Making
        4. Planning & Strategy
        5. Organizational Structure & Culture
        6. Managing Human Resources
        7. Individual Attitudes & Behavior
        8. Managing Teams
        9. Motivation
        10. Leadership
        11. Communication
        12. Principles of Control

    Functional Area Knowledge (MARKETING):

    1. Students will be able to demonstrate a broad knowledge of marketing discipline.
      1. Students will understand the concept of marketing and marketing philosophies.
        1. Definition of marketing.
        2. Main marketing philosophies (e.g., market orientation, societal market orientation, sales orientation, production orientation).
      2. Students will understand the process of marketing plan and how to set marketing strategies.
        1. Be able to prepare an outline of marketing plan (e.g., SWOT analysis).
        2. Be able to choose an appropriate marketing strategy for different types of firms (e.g., market development, product development, diversification, market penetration).
      3. Students will understand the process of market research.
        1. Be able to choose an appropriate market research design and method for different types of market research questions.
      4. Students will understand buyers and markets.
        1. Be able to understand the mechanism of the buyer behaviors.
      5. Students will understand the concept of target marketing strategy.
        1. Be able to use market segmentation variables for targeting and positioning.
        2. Students will understand the 4P’s (product, price, promotion, place) concepts.
        3. Be able to formulate MARKETING 4P’S DECISIONS.

    Functional Area Knowledge (QUANTATIVE BUSINESS ANALYSIS):

    1. Upon graduation our undergraduate students in The Sam and Irene Black School of Business will be able to demonstrate a broad knowledge of business disciplines (quantitative business analysis).
      1. Students will be able to apply the basic rules of probability to assess likelihood within a population.
      2. Students will be able to identify and apply appropriate probability distribution concepts to analyze data.
      3. Students will be able to demonstrate an understanding of correlation and regression analysis.

    Functional Area Knowledge (SUPPLY CHAIN MANAGEMENT):

    1. Students will be able to demonstrate a broad knowledge of business disciplines (supply chain management).
      1. Students will be able to apply forecasting methods for demand of a product or service.
      2. Students will be able to apply inventory and planning models for managing operations.
      3. Students will be able to demonstrate an understanding of TQM tools.

    Disciplines

    Penn State Erie The Behrend College

    Requirements and Admission Criteria for Bachelor of Economics at Pennsylvania State University

    Entry Requirements

    Penn State requires the submission of specific academic credentials to complete your application. Review the secondary and post-secondary requirements for your country below.

    If you are a first year student applying to Penn State:

    Click Apply to start your Penn State application. Before starting, you can also review the Applying Online Worksheet for more details and helpful hints about the application.

    Your application work can be saved at each step of the process by clicking the Save and Continue button at the bottom of the page. This feature will allow you to move back and forth within the application or log off and return to complete your application at a later time.

    After completing your Academic History, you will need to provide your Self-Reported Academic Record (SRAR). As you begin the SRAR process, a new window will open allowing you to complete your SRAR. SRAR will focus on your high school coursework. It is important that this step is a complete and accurate representation of your school record. Therefore, have a copy of your secondary school records available as you complete your SRAR. You will need to enter every class and every grade earned for the last three years, as well as those classes in progress.

    After completing your SRAR, you will be directed back to the Penn State application in order to complete the Program of Study portion of the application. Here, you will indicate your desired starting semester, your intended program of study, and your starting and ending campus. For further details on how to complete this portion based on your applicant type, please see the steps to apply for first-year students.

    After completing this section of the application, you will provide some additional information, an activities resume, and a personal statement. You will be able to paste in this information from other sources, but note that the formatting may not always paste in as intended.

    If you are a transfer student applying to Penn State:

    All international transfer students will be required to submit official high school transcripts in order to complete the application. International transfer students will not complete the Self-Reported Academic Record (SRAR) for either their high school or college coursework.

    If you have accepted your offer of admission to Penn State:

    If you completed SRAR and are accepted to Penn State, please provide the following for grade verification:

    • Official transcript from years 9, 10, 11, and 12. If the transcript is issued in a language other than English, it must be accompanied by a separate line-by-line English translation.
    • Official copy of the Tawjihi, accompanied by a separate line-by-line English translation.

    English Requirements

    • IELTSMin 6.5
    • TOEFLMin 80

    Career Opportunities after Completing Bachelor of Economics

    The decision-making skills that Economics majors learn are needed across all sectors and segments of our economy, so you'll find employment opportunities in government, business, manufacturing, finance, banking, labor organizations, and academia. Penn State Behrend has a comprehensive support system to help you identify and achieve your goals for college and beyond. Meet with your academic adviser often and take advantage of the services offered by the Academic and Career Planning Center beginning in your first semester.

    Employers of recent Behrend B.A. in Economics graduates include the U.S. Senate, the U.S. Department of Commerce, several Federal Reserve Banks, AIG, American Express Financial Advisers, Fleet Bank of New York, NBC Universal, NBNA Marketing Systems, PricewaterhouseCoopers, and the SAS Institute.

    MORE INFORMATION ABOUT POTENTIAL CAREER OPTIONS FOR GRADUATES OF THE ECONOMICS PROGRAM

    Opportunities for Graduate Studies

    Graduate study allows you to delve deeper into the subdisciplines of economics that interest you most. Examples of master's- and doctoral-level study include history of economic thought, econometric and statistical modeling, game theory, bargaining theory, market structure and pricing, consumption, monetary policy, international economics, labor economics, environmental economics, transportation economics, and regional economics. Penn State Behrend also offers a hybrid MBA program that can be pursued in Erie and in Pittsburgh, Pennsylvania.

    MORE INFORMATION ABOUT OPPORTUNITIES FOR GRADUATE STUDIES

    Professional Resources

    • AACSB International
    • American Economic Association

    Tuition and Fee Information for Bachelor of Economics at Pennsylvania State University

    Application Fee 75

    How to Apply for Bachelor of Economics at Pennsylvania State University

    Step 1: Choose Your Application Method

    Apply through MyPennState

    The first step of the application process is to create a Penn State account, if you do not have one already. MyPennState is where future students can access the online application.

    If you are new to MyPennState, you will need to establish a Penn State User ID and password, which you will access during the MyPennState profile creation process. Once you have your log in information, you can sign in to begin work on your application.

    When creating the profile, please use the name that is on your passport. Because materials are filed alphabetically under the family name on the application, it is important that all correspondence and records consistently use the same name (family and given) and spelling. If this name does not match your academic records, please notify us of the difference. Please note: In the U.S., the family name is usually referred to as the last name, and the given name is referred to as the first name.

    Additionally, Penn State requires a current, valid email address, as that is our primary means of communication with international students. To ensure deliverability, please make Penn State (psu.edu) an eligible sender to the account.

    Applying through the Common App

    Applying to Penn State via the Common App is available to first-year (freshman) international students. If applying through the Common App, Penn State will create a MyPennState profile when the application is submitted and you will receive instructions on how to access your profile. If you intend to apply with the Common App, you do not need create a MyPennState profile prior to submitting your application.

    Step 2: Access the Application and Review Important Dates

    While you can create a MyPennState profile at any time, the application for admission becomes available on the following dates:

    Fall/Summer Admission: August 1

    Spring Admission: June 1

    The application submission dates vary by applicant type and intended program of study. Some programs have specific deadlines or admissions requirements. Please refer to our Dates & Deadlines for more information about application deadlines, as well as our Admissions Requirements to review information about any additional materials required for your intended program of study.

    Step 3: Start Your Penn State Application

    If applying through MyPennState:

    Click Apply Online to start your Penn State application. 

    Your application work can be saved at each step of the process by clicking the "Save and Continue" button at the bottom of the page. This feature will allow you to move back and forth within the application or log off and return to complete your application at a later time.

    After completing your Academic History, you will need to provide your Self-Reported Academic Record (SRAR), unless otherwise directed. You will be directed to enter information about your secondary school coursework. Please have a copy of your secondary school records as you complete SRAR. It is important that this step is a complete and accurate representation of your school record. You will need to enter every grade for every course you have taken in the last three years, as well as your current schedule of classes.

    Students educated in South Korea will not complete SRAR. The document requirements for South Korea can be found by reviewing our International Credential Requirements.

    After this section, you will be directed back to the Penn State application to complete the Program of Study portion. Here, you will indicate your desired starting semester, your intended program of study, and your starting and ending campus. For further details on how to complete this portion based on your applicant type, please see the steps to apply for either first-year students or transfer students.

    After this portion, you will provide some additional application information, an activities resume, and a personal statement. You will be able to paste in this information from other sources, but note that the formatting may not always paste in as intended.

    If applying through the Common App:

    Complete the Common App, which will then direct you to MyPennState to complete SRAR. Applicants using the Common App may feel that they provided their high school record via the Common App, but Penn State requires the completion of SRAR via MyPennState. We strongly encourage you to obtain an official copy of your high school transcript to ensure accurate entry of your coursework completed and grades earned. The SRAR will include all of your high school coursework from your last three years of work and your current year schedule. If your final year grades are available when you enter SRAR, you can enter them at that time.

    Step 4: Submit Your Application

    The application requires a nonrefundable application fee of $75 for international students. Be sure to complete the last step after Summary and Review, which finalizes payment of your fee, and be certain it is successfully submitted. Once the application is submitted, you can verify its completion by accessing your MyPennState profile.

    Step 5: Submit Required Application Materials

    In order to complete your Penn State application, we need the following materials:

    • Application
    • Secondary school record
    • Post-secondary school records (if applicable)
    • First-year applicants only: Official test scores: SAT (code #2660) or ACT (code #3656)

      Writing Component and Subject Tests

      Please note: The writing component of standardized tests (SAT or ACT) is not required. The writing component will not be used as part of our evaluation. If your test scores include the writing component, by all means, have those scores sent to Penn State. Additionally, we do not require SAT Subject Tests.

    • English language proficiency, if your native language is not English

    Please see the admissions requirements for international students to review the details about the required application materials. Some programs require additional items to complete your application. Please review our Admissions Requirements for those details.

    Penn State does not require letters of recommendation, nor are they used in a student’s evaluation (unless required for a specific program).

    Step 6: Check Your Application Status in MyPennState

    You can always check the status of your application in MyPennState. We will communicate with you via MyPennState and through a series of emails regarding the missing items for your application. When everything has arrived, you will see a status in MyPennState confirming the completion of your application.

    Please note: It is your responsibility to check on the status of your application and send us any missing materials.

    Step 7: Receive Your Admission Decision

    Once we have reached a decision regarding your application, we will update your status in MyPennState and provide a printable PDF of your decision letter. Review our Dates & Deadlines to see when you should expect your decision.

    If accepted, you can accept your offer of admission in MyPennState to begin the process of becoming a Penn State student. Visit our Accepted Students section to review the next steps in this process. Once you accept your offer of admission to Penn State, those students completing SRAR will submit their official records for validation purposes as soon as possible.

    Bachelor of Economics at Pennsylvania State University
    Pennsylvania State University
    Pennsylvania State University
    United States of America

    United States of America, University Park

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