economics

[trishana]

Whats the difference between Economics and Business studies? Hey, i want to do one of them at A-Level but i don't know which one, economics or business studies? What's the difference? Which one would you advise me to take and why? which one is looked more upon?
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[FSUSpiderFan]

My understanding is that Economics is basically studying how money works in a society and Bussiness studies teaches you how businesses are run so you can move up in a company or start your own.

[NickMB]

Whats the difference between Economics and Business studies? Hey, i want to do one of them at A-Level but i don't know which one, economics or business studies? What's the difference? Which one would you advise me to take and why? which one is looked more upon?

Economics is more theoretical, business studies is more applied. If you have any idea what you want to do at uni, you could always look at their entry requirements and see if they are looking for one more specifically.

Otherwise... depends what you want to do. If you want to do more theoretical, academic study of the economy, or work in banking or analysis of stuff, do economics. If you just want to manage people and, y'know, go to work in business, do business studies. Although to be honest, I'm not sure it matters much in terms of jobs at A Level stage. Look at what the courses actually involve and see which one would make you less bored after studying it for two years.

[666andahalf]

As a student of both, I can tell you that Economics is the study of human behavior in relationship to money, uncertainty and decisions regarding goods, investments, and services. NickMB is correct, that Business is much more applied, but in relation to specific parts of business - Operations, Accounting, Management, Marketing, etc.

Economics will give you a greater understanding on how businesses and individuals behave in specific situations (perfect competition, limited competition, and when you get to higher econ, fundamental decisions with trade-offs). Macro Econ is especially important because it shows you how everyone's individual decisions is reflected on a national scale. Higher level econ can be pretty rigorous, where you prove economic theories mathematically.

In my opinion, everyone should know Economics - because the economy and how it works affects all of our lives. However, for job prospects, If you don't want to work for a bank (central or otherwise), financial institution, or government, I suggest Business. I majored in Business myself, to broaden my job possibility. Plus, any good business school will teach you basic econ as a part of their curriculum. However, to be a better manager, I minored in Economics, so I could make better strategic decisions based on a fundamental understanding of how our economy works. I've only graduated last year but I can safely say that it's already come in handy in my job.

Let me know what you think so far, and maybe we can help you narrow down your decision.