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Business vs. Economics vs. Finance

TheBausTheBaus Posts: 65Registered User Junior Member
edited August 2010 in Business Major
What are the difference between the three? Is business an umbrella term for everything? Is economics more theory while finance is more Wall Street-ish application?

So many questions... thanks!
Post edited by TheBaus on
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Replies to: Business vs. Economics vs. Finance

  • darkdreamdarkdream Posts: 391Registered User Member
    Economics is more theory based and not quantitative at undergraduate level, knowledge you get will not prepare you for real world work. If you are looking into "wall street-ish application" look into statistics or mathematics - quantitative analysis are the demanded.
  • whatasunnydaywhatasunnyday Posts: 261Registered User Junior Member
    Whatever your school is ranked highest for/you find most interesting. I highly doubt any path will take you extremely different places. Just don't forget to take a few accounting classes.
  • footballfan832footballfan832 Posts: 168Registered User Junior Member
    thebaus, what school are you going to?
  • JuggernautCos0JuggernautCos0 Posts: 163Registered User Junior Member
    I would like to disagree with darkdream, my degree is a BS in Economics specializing in Quantitative Economics. I had two undergrad Econometrics courses, Mathematical Economics, Business and Economic Forecasting. My major was in the Business school, so I have a B.S.c. (Bachelor of Science in Commerce) which has prepared me wonderfully for real world business. A B.S.c. is a business degree, I have taken finance, management, accounting, and marketing courses. As well as Stats and Quantitative Reasoning finance courses.

    Now a BA in Economics is a theory based degree.
  • Inmotion12Inmotion12 Posts: 1,042Registered User Senior Member
    darkdream is talking about the intro economics courses that anyone can take. Most undergraduate upperclass courses are quantitative in nature which is why calculus and statistics are required before taking them.
  • darkdreamdarkdream Posts: 391Registered User Member
    ^ No I am not. Upper Division Econ at top universities are not even quantitative. Simply requiring basic calculus and statistics does not make a major quantitative. Econometrics is essentially a watered down statistics course with some techniques that also have some economic theory involved.
  • JuggernautCos0JuggernautCos0 Posts: 163Registered User Junior Member
    Have you ever taken Econometrics?
  • ToshtemirovToshtemirov Posts: 653Registered User Member
    JuggernautCos0,

    What about BBA in economics? Is it more business oriented than BS?
  • JuggernautCos0JuggernautCos0 Posts: 163Registered User Junior Member
    Depends on the university, a BBA applies the tools of economics to the study of business problems. A BS and a BBA tends to be more math base than a BA. My degree is a BSc which is similar to a BBA. BSc for my university stood for Bachelor of Science in Commerce. BA is more of a traditional economics degree focusing on theory but all upper level economic courses involve math in one form or another (except for economic history courses or Development of Economic thought courses).
  • ToshtemirovToshtemirov Posts: 653Registered User Member
    And does it matter when the economics program offered by a business school, instead of social science department/whatever. Does it make economics program more prestigious? Because some people say that usually people who chose to major in economis did not get into a business school. For instance, in my school, only a business school offers this program, BBA in economics. So, does it mean that it is better?
  • JuggernautCos0JuggernautCos0 Posts: 163Registered User Junior Member
    No, its different. A business school that offers economics will give you a business core with economics, which is more marketable in finding a job in business. A LAS school will offer economics with a LAS core, going into business without a basic understanding of accounting, management, marketing, statistics, and finance might be tough (in my opinion).
  • noodleslinoodlesli Posts: 587Registered User Member
    So what can people do after a math degree?
  • JuggernautCos0JuggernautCos0 Posts: 163Registered User Junior Member
    After a math degree you can work in trading, quant work, strategic and forecasting work, and consulting.
  • noodleslinoodlesli Posts: 587Registered User Member
    So math major is a very good major which provides a lot of opportunities after graduate?
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