Economics in business programs

Abstract

This paper attempts to show the need that students in business programs have about training in economics theory based on the importance of having them approach an understanding of four basic concepts: 1) a rational behavior of economic agents; 2) their strategic behavior; 3) their constraints, and 4) the trade-offs imposed by their constraints. These principles will acquire a new dimension when considering international business. Based on these aspects, there will be a short reference to some areas which overlap or interact between economics and business. Finally, the conclusions of this paper will make emphasis on the importance of articulating the approach to various problems in an integrated discussion in respect to Economic Development as a way to implement the main idea expressed here, which is to propose the training of the approach and business problem-solving from an economic perspective.