2 answers
Hamid
Student
South Brunswick Township, New Jersey
28
Questions
Asked
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What specific fields are there in business and what is the outlook for a business major?
I am very interested in economics and business but am not sure what major I want to specify myself to. I'm a junior in high school. I know still have time to decide but I want to have a general idea of the different majors. #economics #buisness #corporate-finance
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2 answers
Garrett Gollehon
AML Analyst at PricewaterhouseCoopers - Service Delivery Center (PwC SDC)
13
Answers
Columbia, South Carolina
Updated
Garrett’s Answer
Hello Hamid,
Depending on the school you go to the economics program may be included in the business school. My undergraduate school had separated economics from the business school, but where I completed my Masters had the economics program as a major within the business school. That being said, this means that you could pair a business major with an economics degree at very low marginal cost because a lot of the courses overlap.
The main difference between the 2 programs is that economics is very theoretical while finance is more numbers driven. In economics real world examples are used to justify predictions or used to develop theories. While finance uses hard numbers (financial statements, income statements, etc.) to analyze firm health or riskiness of an investment.
The one thing that these majors have in common is that finance is an extension of economics. All of the theories/ laws/ rules of thumb you learn in finance are derived from basic economic theories. Economics can be applied to everyday situations (why I chose to eat fried chicken as opposed to a salad, why I run 3 times a week, why I decided to not get road rage when a driver cut me off) while finance is dealing strictly with money (budgeting, revenue forecasting, valuation, etc.)
Hope this helps, and if you have any questions, don't hesitate to ask.
Depending on the school you go to the economics program may be included in the business school. My undergraduate school had separated economics from the business school, but where I completed my Masters had the economics program as a major within the business school. That being said, this means that you could pair a business major with an economics degree at very low marginal cost because a lot of the courses overlap.
The main difference between the 2 programs is that economics is very theoretical while finance is more numbers driven. In economics real world examples are used to justify predictions or used to develop theories. While finance uses hard numbers (financial statements, income statements, etc.) to analyze firm health or riskiness of an investment.
The one thing that these majors have in common is that finance is an extension of economics. All of the theories/ laws/ rules of thumb you learn in finance are derived from basic economic theories. Economics can be applied to everyday situations (why I chose to eat fried chicken as opposed to a salad, why I run 3 times a week, why I decided to not get road rage when a driver cut me off) while finance is dealing strictly with money (budgeting, revenue forecasting, valuation, etc.)
Hope this helps, and if you have any questions, don't hesitate to ask.
Jason Powers
Licensed Adjuster/Estimating/Claims/Project Manager
6
Answers
Grapevine, Texas
Updated
Jason’s Answer
One of the most common thing you will see in today's job market on job advertisement is 4-year degree required. With that being said you almost ALWAYS see whatever they are specifically asking for...or Business Admin/Management.
For instance you might see "4-year Construction Degree/Business Degree required."
Go to Indeed.com and check out the job advertisement. A business degree opens doors for you practically wherever you want to go.