Economics is an essential social science and business discipline. JBU will show you how to think deeply about the world's economic concerns.
In the economics major, you'll gain a broad understanding of business skills while focusing on essential economic concepts. You'll be able 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 a Christian worldview.
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Learn more about our economics major
Choose Your Degree
You’ll be able to major in economics while earning a Bachelors of Business Administration or a Bachelors of Arts or Science degree. Choose your emphasis within the economics major: focus on Economic Development to study global issues and human flourishing or Analytics to learn to apply economics to solve business problems.
Understand the Big Picture
You'll learn about the big picture perspective of international trade, global development, poverty alleviation and public policy.
Build Sustainable Communities
Economics majors can participate in ENACTUS (Entrepreneurs in Action) project teams to develop outreach projects that improve the quality of life and standard of living for people in need.
Launch Into Your Career
According to the Department of Labor, the market for economists is projected to grow at 14% over the period from 2019-2029, which is classified as “much faster than average."
Advance Stewardship
Studying economics will allow 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.
Prepare for Graduate School
Through the economics major, you'll be prepared to jump directly into graduate school upon graduation.
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Meet the Economics faculty
Randall Waldron
Professor of Economics and International 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.
Sam Heinrich
Associate Professor of Business
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.
Linda Vytlacil
Professor, Data Analytics
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.
