The Economics and Business Department launched a new interdisciplinary major in Block 5, one that examines the intersection of business and economics with society and builds on the commonalities and differences between the two disciplines. The new major, Business, Economics, and Society (BESoc), explores human economic behavior — its nature, sources, and consequences —and analyzes three key relationships:
- It examines the roles business and economics play within society, in particular the place of modern corporations and social enterprises in civil society and in government and economic policy.
- It evaluates the impact of business on society, focusing on market forces, on market failures, and on services provided to all members of society.
- It explores the effects of society on business and the economy, examining how social issues frame business opportunities and strategies, and how corporations respond (or fail to respond) to social concerns.