Business vs. Economics vs. Finance

<p>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?</p>

<p>So many questions... thanks!</p>

<p>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.</p>

<p>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.</p>

<p>thebaus, what school are you going to?</p>

<p>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. </p>

<p>Now a BA in Economics is a theory based degree.</p>

<p>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.</p>

<p>^ 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.</p>

<p>^^^Fail.</p>

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<p>Do you think it's a coincidence that many quantitative jobs ask for a degree in economics, among other quantitative fields?</p>

<p>Have you ever taken Econometrics?</p>

<p>JuggernautCos0,</p>

<p>What about BBA in economics? Is it more business oriented than BS?</p>

<p>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).</p>

<p>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?</p>

<p>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).</p>

<p>So what can people do after a math degree?</p>

<p>After a math degree you can work in trading, quant work, strategic and forecasting work, and consulting.</p>

<p>So math major is a very good major which provides a lot of opportunities after graduate?</p>

<p>^not the major itself, but the skills you obtain studying math.</p>

<p>Just an FYI as far as the BA, BS, BAA goes... it really depends on the curriculum of the university. I go to Berkeley and it can be very easy or very difficult to get a BA in Econ. The school offers an opportunity to take intermed micro/macro with multivariable calculus, a math econ course/advanced micro economy course that requires knowledge of analysis (upper div math), and a "advanced econometrics" course that is recommended prereq is an uppper div stat course. </p>

<p>also, berk does not offer a bs in math and it has one of the top math programs in the country.</p>

<p>Hey whatasunnyday: I go to berkeley too and I am an econ major as well. So are you a econ major and do you have minor or double major in math?</p>

<p>I'm planning to major in economics as well along with math. At UVa, at least, the word is that economics majors are looked down upon as McIntire rejects (UVa's biz school). Maybe this isn't unique to just UVa...but since I'm planning to go to grad school for econ, business school really isn't necessary for me.</p>