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On the 9th March 2021, we invited Dr Daolu Cai (Visiting Senior Fellow, Department of Strategy and Policy in NUS Business School), Jing Jie (Y3 Business Student, BSE and FIN spec), Wei Hern (Y4 Business Student, BSE and FIN spec) and Kashish (Y4 Business Student, BSE and FIN spec) to share about their experience about Business Economics.
Our speakers mainly shared about what they have learnt in Business Economics (BSE), as well as the benefits of choosing BSE as a specialization. They explained how BSE modules inculcated the various economic concepts, and how these concepts affect the real world. They also mentioned how the knowledge taught in BSE is relevant in the market economy and how the increased market knowledge would benefit them in becoming a better employee in all aspects of the market. Below is a brief summary from Wei Hern regarding the BSE Modules he took:
They shared that studying BSE, just like any other specialization, is tough but will lead to a fulfilling outcome. Knowledge acquired from taking BSE is highly applicable to the real world and is complementary to many other aspects of business such as Finance and Marketing. Some advice from the panellists include how it is important for students to be more open-minded and expand their horizons – this includes taking part in case competitions and doing more self-reading. For job interviews, interviewers mainly want candidates to think critically and have words of substance. Additionally, it would be good for students to understand the key industrial trends across individual governments and the world, as well as the various markets in order to do well during interviews.
Q&A General and Curriculum
For the general questions asked, the modules offered for BSE are both qualitative and quantitative but can be chosen according to an individual’s skill set and preference. It is recommended to start with the 3 core modules (BSE3701, BSE3702, BSE3703) to get a general feel of BSE, before deciding on whether to continue in the specialization. Basic skills needed for BSE would definitely include analysis of data and critical thinking, as well as a curious and open mind in order to draw the links between concepts.
A common misconception would be that one has to be good in BSP1703 to do well in this specialization, but in actual fact having prior knowledge is not a prerequisite to excelling. It is more important to have the passion and eagerness to learn new knowledge taught in this spectrum.
There are IT and Coding related modules for BSE – such as data analytics for consulting (DSC4213) – but it is not necessary to complete the specialization.
Internship and Career Prospects
Having BSE as a specialization is very relevant in the corporate world. Even though there are no specific jobs catered to BSE as a graduating degree, it can help to equip one with an all-rounded skillset and supplements well as a second specialization. It allows individuals to understand the business environment better, not just in terms of career prospects in the future but as well as – on a smaller scale – getting internships. Most internship opportunities mainly revolve around but are not limited to, the Financial, Marketing and Supply Chain sector.
In order to accumulate knowledge to do well in one’s future career, it is important for individuals to read up on current market news and try to analyze the statistics in order to understand the market trends.
With regards to core modules, it is highly recommended to take the two core mods, being BSE3701 and BSE3702 together in order to get a holistic view of economics as a subject. This would allow one to paint the general picture of the future more easily. It is also important to take note that some modules are only available in either the first or the second semester, so one should plan ahead for the modules that they would like to take.