3 answers

What can I do with a business administration degree vs an economics degree?

Asked Boston, Massachusetts

3 answers

Ann’s Answer

Updated

Hi Armani,

There is some overlap between the two, as it is important to understand the economy to operate a business, but economics is focus more so in mathematics. I am going to include a few links in the next steps to help give you an insight into the differences. The first outlines the differences between the two, the second gives you insight of what economist do, and the third are some of the careers you can go into with a BS in Business Administration. I hope this helps!

Ann recommends the following next steps:

  • https://www.theclassroom.com/difference-between-business-administration-economics-4450.html
  • https://www.onetonline.org/link/summary/19-3011.00
  • https://www.businessadministrationinformation.com/general-business/business-administration-degree-job-options
Updated
I have a real world example. My friend and I went to the same college. He took economics and I went with Business Adminstration. After six years, he became a lawyer. I have found that Business Adminitration opens more doors than an economics degree. Just my opinion, I am not discounting the value of an economics degree.

Yeskendir (Alex)’s Answer

I would say that a business degree provided me with more workforce ready skills, because a lot of classes I took required working in teams, doing project management, business forecasting, etc. I had friends who took Econ, and I remember them saying that once you move into 300 level classes econ loses it applicability to most work you will be doing after college, so I suggest going with business if you are not trying to get a doctorate in economics or pursue a career as an economic consultant.

Cody’s Answer

Updated Waltham, Massachusetts

Hi Armani,

This is a really good question, and one that I struggled with when I was first entering college. The first thing to understand is that they are both outstanding options that can set you up for rewarding careers. I ended up majoring in business (accounting and finance) and minoring in economics. What I found was my business courses tended to be more related to the problems and work that business encounter and solve on a daily basis whereas my economics classes provided a really good theoretical foundation on both macroeconomic theory and why business make the decisions they do at a high level. In other words, both were very helpful!

https://www.petersons.com/blog/economics-degree-vs-business-degree/

In terms of jobs you can obtain with a business degree vs an economics degree, there is a lot of overlap. Many of the firms that recruited at Penn State where I went recruited both majors and in fact prided themselves on having this academic diversity of academic backgrounds. I will say that if you are planning on obtaining your masters of PHD in Economics in the future, I would recommend majoring in economics or at a minimum taking a few calculus classes, as most reputable postgraduate programs will require these.

https://www.bestvalueschools.com/faq/what-are-the-prerequisites-for-a-masters-in-economics-degree/