Major Minor
Major in Economics
Understand economic concepts • Learn efficiency and productivity • Impact communities
John Brown University
2000 W. University St.,
Siloam Springs, AR 72761
479-524-9500
jbuinfo@jbu.edu
What are you looking for?
JBU's economics program provides a window into production and business around the globe. What moves nations from poverty to prosperity? How does faith-based stewardship impact economic principles?
Learn to articulate essential theories of the market, understand economic growth and business cycles, explain the effects of related public policies and use data effectively through the lens of biblical stewardship.
Start your applicationEconomics pairs well with many other JBU business programs, and many students double major. Econ also makes a good track for pre-law students who historically have higher LSAT scores than other majors.
JBU can help you become a Certified Business Economist after graduation and while pursuing graduate work.
Employers are looking for graduates with the analytical, research and communication skills you'll learn in JBU's economics program.
Economics studies scarcity, how people use resources and respond to incentives and decision-making. With an economics degree, you can choose from various jobs, including teaching, consulting, working in government and more.
You’ll be able to major in economics while choosing either a Bachelor of Business Administration or a Bachelor of Arts or Science degree based on your preferred focus in the business or social sciences area.
Economics majors can participate in ENACTUS (Entrepreneurs in Action) project teams to develop outreach projects that improve the quality of life and living standards for people in need.
Studying economics allows you to use economic development as a tool for honoring God, serving others and impacting the world. You'll be able to serve through business or non-profit organizations.
To me, economics is more than a major; it is a life-changing experience. Once you get into it, it changes not only your perception of the business world but also your personal choices. As an international student, it is valuable not only to understand the US Economy but also to be able to compare it to my home country and identify the similarities and differences we share and delve into them. My professor and academic advisor have not only been an inspiration for my career path but a mentor who has shared his great passion for economics with me.
Gabriela Peralta '25
Economics Major
At JBU, you can choose an emphasis in analytics or economic development. These emphases offer you the opportunity to specialize further.
The analytics emphasis is an excellent choice for those wanting to work with data and pursue careers in which data analysis is essential.
The economic development emphasis deepens your understanding of the global economy, trade, patterns of growth and development, poverty alleviation and public policy.
A study of markets and how supply and demand interact to direct the allocation of resources. Topics include market structures, the role of competition, price theory, output determination, and income distribution. Market failure and policy responses to problems such as pollution and poverty are also considered.
A study of the determinants of national output and employment levels, the monetary system, and public policy for economic growth and stabilization. Inflation, unemployment, productivity, economic growth, balance of payments, and the public debt are considered from the perspectives of various schools of thought.
Application of microeconomic theory and analysis to business and administrative problems with an emphasis on sound, ethical decision-making. Topics include demand analysis, production and cost analysis, market structures and pricing practices, regulation, risk, and capital budgeting.
Application of mathematics and statistical techniques to analyze economic data. Model development, hypothesis testing, time series forecasting, and basic forecast diagnostics are stressed. Regression tools are used to explore applications to forecasting, statistical inference, and analysis of variance. Specialized computer programs are employed to provide experience with practical applications to business and economic research.
Dr. Joe Walenciak holds a Ph.D. in Strategic Management from the University of Arkansas and has been a member of the business faculty at John Brown University since 1982. During that time, he has taught business classes in the undergraduate, online and graduate programs. He has also chaired the undergraduate, graduate and online business programs.
While at JBU, Dr. Walenciak has developed and led mission trips and studies programs in Guatemala, Mexico, Honduras, Jordan, China, Brazil, and several other countries. He has received recognitions as SIFE USA Sam Walton Fellow of the Year, SIFE USA Hall of Fame, CBFA Richard C. Chewing Award, Teacher of the Year, and Outstanding Alumnus. He has also been named Ambassador of the Peace of Guatemala by the Guatemalan Government on two separate occasions.
With interests in community development and business accreditation, Dr. Walenciak has held national leadership roles with the Christian Business Faculty Association and with the Accreditation Council for Business Schools and Programs.
Distinguished Professor of Business
After teaching at the University of South Dakota for 18 years, Dr. Randall Waldron moved to Northwest Arkansas in 2012 to teach at JBU. He has a B.A. degree with majors in Economics and Political Science from Northwestern University and a Ph.D. in Economics from Vanderbilt University. Prior to attending graduate school, he worked as an analyst for the market research firm, Market Facts, Inc., in Chicago and Los Angeles.
Dr. Waldron’s teaching interests include a variety of fields within Economics and International Business. Specializing in applied microeconomics, he has published papers on game theory, experimental economics, business competition, and economic impact analysis. He brings extensive experience in these fields as well as in managerial economics.
Dr. Waldron is a Fulbright Scholar and has lived and taught in China, first at Beijing Jiaotong University and more recently at Yunnan Province at Honghe University. His work has also taken him to Japan, South Korea, Taiwan, Hong Kong, Vietnam and Thailand, as well as to Europe. With his experience in the Asian culture, he was co-founder of the East Asian Institute at the University of South Dakota.
Professor of Economics and International Business
Dr. Linda Vytlacil, former Vice President for Data Science/Global Data & Analytics Platforms for Walmart Labs, is a recognized people leader and commercial manager with extensive experience in building teams and creating analytics capabilities to harness profitably the power of big data analytics. With business development experience and P&L responsibilities in global consulting services, Dr. Vytlacil is a successful and award-winning team leader who is skilled at identifying and developing talent. She brings numerous skills to the classroom including technical credentials in advanced analytics across customer domains such as strategy, loyalty, digital marketing, pricing strategy, retail, product innovation, market research, econometrics, demand forecasting and performance measurement.
Professor of Data Analytics
As a JBU alum, Dr. Sam Heinrich returned to JBU in 2014 to accept a position as Associate Professor of Business and Department Head for Online Undergraduate business programs. He now focuses solely on teaching traditional and graduate courses in the areas of Finance, Economics and Marketing. Along with a B.S. from JBU, Dr. Heinrich has an M.B.A. in Finance from the University of Colorado at Colorado Springs and a D.B.A. in Marketing from George Fox University.
Prior to coming to JBU, Dr. Heinrich spent 20 years in management and the financial services industry. He worked in commercial lending, as a banker, during the first half of his industry related career and then transitioned into the role of President for a medium-sized electric utility contracting firm. His industry experiences include leading and supporting small, mid and large business enterprises in private and public forums both as a banker/lender/consultant and in a management role.
In 2001, Dr. Heinrich left industry to pursue his passion for teaching. Initially, he taught in a private Christian high school and then moved into Christian higher education in 2007 where he’s able to bring his real-life experience in the business world into the classroom.
Professor of Finance & Economics
Equip yourself for a successful career and a life of purpose.
JBU does not unlawfully discriminate based on race, color, national or ethnic origin, sex, age, disability, marital status, military status, or age in the administration of its educational policies, admissions, financial aid, employment, educational programs, or activities.
John Brown University is a leading private Christian university, training students to honor God and serve others since 1919. Arkansas’ top-ranked university (The Wall Street Journal) and top-ranked regional university (U.S. News), JBU enrolls more than 2,200 students from 37 states and 42 countries in its traditional undergraduate, graduate, online and concurrent education programs. JBU offers more than 50 undergraduate majors, with top programs including nursing, psychology, construction management, graphic design, family and human services, and engineering. Eighteen graduate degrees are available in business, counseling, cybersecurity, and education.