As the name implies, you need to have a wider knowledge about economy and how to apply the economic principles to solving real life problems of demand, scarce, supply and want.  Many entrepreneurs who were successful before attending courses in Economics will probably take some time to under some teachings in the field to know more about charts, graphs and a lot of the importance of economics to businesses and organisations.

As health and medicine is important to your life and living so is economics to the health of businesses and economies, Nobody would employ an economist without a degree in economics to manage his/her big firm.