<p>Hey,</p>
<p>what’s the difference between getting a business and economics degree/major?</p>
<p>is it that economics is more theoretical and academic while business is more applied and preparing for the work-force?</p>
<p>To explain in a very precise form, Business is Applied Economics.</p>
<p>Economics is a social science. Business is a bit more applied and generally demphasizes the social science aspect of economics.</p>
<p>To elaborate on dhl3’s post:</p>
<p>Business is Applied Microeconomics.</p>
<p>Microeconomics deals with the individual company or companies, while Macroeconomics deals with the economy taken as a whole-both domestically and globally.</p>
<p>Most business courses (but not all) concern themselves with the profit-motive and handling of an individual company. Accounting, finance, operations/manufacturing, human resources, computer systems (information technology), and marketing courses are all focused towards this end.</p>
<p>Economics focuses on two areas–the business and the government and how each should operate. But it looks at this from the 10,000 foot level, while business courses get into the day-to-day details of how to do this for the business only. Non-profit businesses are covered only to a minor degree in the business programs, unless you are in a school specifically geared to this (which some programs are). Usually the business side of government is covered in Public Administration programs.</p>
<p>Business: a combination of accounting, finance, management, operations, marketing, communications, information technology, etc. Overall, it’s more case study-based.</p>
<p>Economics: economic theories, some applications/policy, quantitative and graphical analysis of economic outcomes</p>
<p>At Wharton, all their major is Economics, but it’s actually a business degree though.</p>
<p>is it just that they’re unique?</p>
<p>any more comments on it?</p>
<p>from above responses, I just feel that business is more “micro” and “personal” and “applied”, while economics is more “macro” and “academic/intellectual”
Am I getting the the right direction?</p>
<p>Besides, why do Wharton Undergrads get a BS in economics not business?</p>
<p>BS in Econ has been the main Wharton undergrad degree for over a century. </p>
<p>Basically, Wharton was originally a school of both business and social sciences until the mid 70s when the school was reorganized to be just a “business school”. Before then, the economics, sociology, and political science were all part of the Wharton school until they were transferred to a newly reorganized “School of Arts and Sciences.” During the time before the move, Wharton also offered PhD and Masters in Econ, political science, sociology and a lot of other fields now under the SAS at Penn.</p>
<p>The undergraduate degree name was probably kept because it because it can also be disguised with the Ivy league tradition of liberal arts.</p>