Hence, in the practical business environment, managers should not only consider the application of economic theories but also concern internal and external factors in the organisations before the decision making.
[8] The Bachelor of Business Economics (BBE) Program at University of Delhi is designed to meet the growing need for an analytical and quantitative approach to problem solving in the changing corporate world by the application of the latest techniques evolved in the fields of economics and business.
[9] The Autonomous University of Barcelona (UAB), the Universidad Pública de Navarra (UPNa) and the University of the Balearic Islands (UIB) developed an official Master of Science in Management, Organization and Business Economics focused on management and business topics to train professionals in the study of organizations, on a conceptual and quantitative basis.
This focus is complemented with contributing ideas and theories to develop the necessary instruments to facilitate the management of sophisticated and complex organizations.
[11] The Universidad del Desarrollo, in Chile follows on Harvard University definition, adding entrepreurnship as a field of business.
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.
[13] Italian universities borrow their concept of business economics from the tradition of Gino Zappa, for example a standard course[14] at the Politecnico di Milano involves studying corporate governance, accounting, investment analysis, budgeting and business strategy.