BSBA Economic Consulting: Experience Course

Economic consulting firms seek graduates with strong skills in economics, business writing, data analysis, and visual analytics. Your first job in this field often shapes your future career, whether you pursue advanced training or move into areas like economics, business, public health, or law.

There are five key learning objectives in our experience course (ECO 4400 Economic Consulting):

  • Foundational Knowledge– Understanding and Remembering:  Explain and give examples of the links between data analysis, client strategy, and predictive analytics.
  • Application– Performance Skills:  Perform basic and advanced regression analyses and economic model simulations; use coding practices that other team members, project managers, and quality assurance reviewers can understand and replicate.
  • Application– Practical Thinking:  Advise project team members, supervisors, and clients on issues or induce their action using effective oral presentations, business memos, and business reports.
  • Learning How to Learn – How to Pursue Self-Directed or Intentional Learning: Develop and use a self-learning plan for Tableau to create effective visual analytics for oral presentations and consulting projects.
  • Human Dimension – Working as a Member of a Team: Cooperate and resolve conflicts (budgets, schedules, interpersonal) within team-based environments.

The BSBA in Economic Consulting includes several hands-on experiences tailored to prepare students for various early career paths. First, students will complete two short, mentored research projects—one collaborating with a senior researcher and the other participating in a team-based case competition. Next, they will design and use Excel and cloud-based economic models to analyze market and economic impacts. Finally, students will practice key job skills for early-career economists, such as writing clear communications, creating effective presentations, and managing tasks like scheduling, budgeting, and tracking time.

Experience #1: Mentored Research Project: Academic Research

You’ve just started your role as an economist at a consulting firm where senior economists, including your project manager, juggle client work with academic research. Your project manager is developing a new research paper and has asked you to help gather preliminary data and insights.

Experience #2: Mentored Research Project: Team-Based Case Competition

As part of a team of economic consultants, you compete in a high-stakes case competition. Your team must collaborate to deliver a thorough analysis and presentation. The top team will win the “Best Capstone in Economic Consulting” award, which will be announced on LinkedIn.

Experience #3: Excel and Cloud-based Economic Simulations

You’re working as an economic consultant for a policy think tank that advises government agencies. A state government has asked your firm to evaluate the economic impacts of a new policy. They want to understand the short-term and long-term effects on markets, employment, and overall economic growth. Your project manager has assigned you to this critical task, using Excel models and a cloud-based economic simulation tool (IMPLAN) to conduct the analysis.

Experience #4: Practice Day-to-Day Job Tasks

As an entry-level economist at a mid-sized consulting firm, you support senior economists with research and analysis on various client projects. To help you develop your skills and improve productivity, your project manager has assigned tasks that mimic the daily responsibilities you’ll encounter in your role.

Best Capstone in Economic Consulting Winners

2023

Jason Holquist, Jane Ragland, David Sawyer, Colin Wightman and Leiu Yuenyong

2022

Andrew Harper ’22, Mike Walsh ’22, Jack Shea ’23 and Corbin Skaff ’23 G’23

Brooks Depro, Katy Rouse author article on economic consulting capstone project

In an International Review of Economics Education article, the economics professors present a course-embedded undergraduate research project that utilizes the case method and is designed to prepare economics consulting students for their future careers.