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^ Why would he need a backup drive? Hell, just get an iPod and use that as a backup device if you're afraid of a hardware drive error, crash, etc... Or use your campus' server or something.
Anyways, whether or not this laptop is sufficient to your needs, depends on you. What are your needs? You say that you're majoring in Economics, but that isn't the full equation. You still will use the computer for other things. What are these other things?
Being the nit picky person I am, I think the graphics card is the most pathetic aspect in that bundle. And, the battery life is a joke. Don't believe it lasts that long for a typical computer users.
If you want a laptop that can get it done, then I guess all you really need a is a laptop that can run some office suite and establish an Internet connection. IF this is really your expectations and demands -- you're shooting way to high (get something even cheaper).
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