Posts Tagged ‘Economic Issues’

Pursuing an MBA Business Degree Economics Can Increase Your Marketability

December 27th, 2009

The recent downturn in the economy has many people playing armchair quarterback over decisions made by the Federal Reserve during the last few years. These guys are supposed to be geniuses when it comes to economics, right? It doesn’t take a rocket scientist to recognize that there may have been errors in judgment regarding interest rates and home financing. Think you could do better than Bernanke or Greenspan? Don’t even think about being considered for such a high ranking position until you have an MBA Business Economics Degree.

An MBA Business Economics Degree goes beyond basic economics. The person in charge of making decisions regarding one of the strongest economies in the world will be required to have knowledge and expertise in the following areas: monetary policy, advanced economic theories like macro and micro economics, international markets and foreign trading, an understanding of leading economic indicators, – just to name a few. This person would need to be able to analyze economic issues quickly and accurately, as well as be able to assess and consider alternative economic policies to help achieve stability in a tumultuous economy.

Still want to pursue your dream of chairing the Federal Reserve? Then you definitely want to start looking at schools that have serious MBA Business Economics programs. There are several institutions of higher learning that offer such a degree program. Take the time to investigate several of them and the coursework they offer to ensure that their curriculum is in line with your career goals. In addition to accounting and finance coursework, they should offer courses that cover trade and finance theory, past and current trade issues, international economic organizations and their agreements and impacts on the world economy, econometrics and statistics.

The program should also offer hands-on experiences which will allow you to experience real world obstacles and challenges in the world of business and finance. It should provide opportunities for you to work with companies that will teach about corporate mergers and acquisitions, supply chain management and product development. By the time you are finished obtaining your degree, you will have knowledge and expertise in all of these areas, along with managerial skills and a firm knowledge and understanding of business ethics and economic practices and theory.

If you decide you want to focus on a particular area of economics, look for MBA programs that offer areas of specialized interest, such as the study of poverty economics, which deals with the effect that poverty has on overall economic stability or economic crime investigation and management, which prepares graduates to deal with economic fraud and corporate crime. These types of specialized programs make an MBA graduate highly marketable.

If the Federal Reserve is not high on your priority list once you have finished obtaining the MBA business economics degree, start looking in areas such as economics research in both the government and private sectors. Most advanced degree holders will find themselves in high demand for upper management positions in both the government and private sectors, as well as with non-profit organizations. A person may also decide to pursue an academic career by becoming an Economics Professor at a university.

MBA Business economics graduates are ahead of the curve in terms of earning potential too, with starting salaries around 75,000 per year, depending on the area of study.

When all is said and done, obtaining an advanced degree can definitely help your career, especially if you really do aspire to helping set economic policy on a federal or global level. An MBA Business Economics degree will set you on the right path by giving you knowledge and expertise regarding economic practices, theories and issues that can have a great impact on a corporation’s bottom line. And who knows? Maybe your expertise will eventually put you in line for Bernanke’s seat as Chairman of the Federal Reserve. After all, knowledge is power.




By: Andy West

Economic Troubles: Stress at Home, Bullying in School

December 18th, 2009

The stock market is plummeting, destroying your investments and retirement.  The value of your house is less than you paid for it and now it needs repairs you can’t afford.  You are worried about job security and the very real possibility of getting laid off. You are stressed and your children can sense your high levels of anxiety.

The way that parents react to economic issues and deal with stress, fear, and anger during nerve-racking times impacts children tremendously.  Financial stress can create uncertainty and tension in the home which, in turn, can create stress for children, too.  When adults act inappropriately out of anger or fear, quickly losing their patience, speaking sharply, or behaving disrespectfully towards family members, they increase the chance that their children will exhibit these same behaviors.  Disrespectful and bullying behavior at school often stems from role models at home.

Children Do What They See

In 1961, Canadian psychologist Dr. Albert Bandura headed “The Bobo Doll Experiment.”  This research demonstrated the critical role of modeling in human behavior, concluding that much human behavior is learned from observing others. 

The experiment studied three groups of children.  Each child was placed in a room with appealing toys.  The first two groups of children were placed in rooms where an adult was sitting in one corner with their own assortment of toys, including a toy mallet and a “Bobo” doll (a five foot tall inflatable clown designed to spring upright when knocked over). The children were not permitted to play or interact with the adult’s toys.

In the first group, the adult would begin to verbally and physically attack the Bobo doll for a period of 10 minutes.  In the second group, the adult would play peacefully with the toys, including Bobo. The children in the third group played with toys in a room with no adult present.

Children exposed to the aggressive model were more likely to imitate aggressive behavior while subjects exposed to the non-aggressive adult, or no model at all, showed little aggressive behavior.  Continuing research has shown that children observing an adult role model exhibiting violence are more likely to believe that this type of behavior is normal and are more likely to use aggression when faced with similar situations.

Role Modeling Behavior when Stressed

Many people are feeling out of control during the current economic collapse, which is tremendously anxiety-producing. A stressed parent who lashes out and attempts to express power and control in a physically or verbally abusive manner communicates to their child that such behavior is normal and acceptable. This modeling can create similar behavior in their child at school.  At their age, it is called bullying as they abuse others in a desire for control.

During tumultuous times like these, it’s especially important for parents and other adults to teach children how to behave when they’re feeling stressed and out of control.   Consider a variation of Gandhi’s advice, “Be the change that you wish to see in your children.

Through action and discussion, share ideas with your child about healthy and respectful outlets for emotions when feeling stressed.  Forgive yourself and your child for past indiscretions and vow to work together to express respect, even during times of turmoil.

Discuss physical cues that indicate stress, such as muscle tension in hands, face, neck or back, or a desire to hit or scream.  Recognizing these cues should lead to performing self-calming techniques such as slow, deep breathing, taking a bath, or listening to soft music. Or, consider activities that release pent up energy in an appropriate manner, such as running, dancing, or participating in a sport.

Role model these behaviors when you experience stress.  As Bobo showed, children need to see adults handle stress in a healthy way in order to handle stress well themselves.  Of course, changing your behavior can be very challenging, especially when you are stressed. So take the team approach.  Talk to family members about what you are feeling, and ask for their help. For instance, ask your family for a stress-free half hour after you get home from work.  Or, if you find yourself getting overwhelmed, you might say, “I need to take a few minutes to calm my mind.”  Then take those few minutes and engage in a stress-reducing activity.

If your child is bullying at school, talk with your child’s teacher and, with your child’s input, develop a behavior plan and determine appropriate, meaningful reinforcement of desired behavior.  This type of teamwork not only promotes cooperative behavior, it creates consistent expectations between home and school. 

You may not have control over the economic crisis and what it means for your family, but you can control how you respond to it. Be a good role model and teach your children that, regardless of outside influences, no one has the right to abuse or bully others. 




By: Steve Breakstone And Michael Dreiblatt