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I don't think the major does anything, it's pretty much like any liberal arts major. The relation to business is important, but the "mental intuition" learned through studying econ is > business relevance. Anyone who's taken the econ gateway knows that half the models are cracked and will get replaced or appended every 10 years or so. Taking the econ major helps you develop a mindset to analyze/breakdown a problem and approach it from the "economist's perspective", which is incredibly important and represents the real value in majoring in econ.
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