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How does an business economics major differ compared to a business administrative major?
How exactly are these 2 career paths different? If you have classes with experience with one or both. which do you recommend? #business #college-major #business-management
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Betty’s Answer
Hi Alex,
Off the top of my head, I imagine that business administrative major is more of a generalist since it's a pretty standard degree. It can be applied to marketing, product management, sales, etc practically for any industry (software, supply chain, hospitals, oil & gas, financial, etc). Business economics seems to be a more specialized degree and I would imagine the focus is more on the finances and internal investments of companies. I can see that a financial analyst would apply their theoretical knowledge from their business economics degree to analyze the company organizational structures, investments, finances, etc. If you excel in this area, then this might be the one for you. If you want to be more of a generalist and be marketable across a wide range of industries, then I recommend pursuing a business administration degree and completing the masters (since that seems to be the standard).
Off the top of my head, I imagine that business administrative major is more of a generalist since it's a pretty standard degree. It can be applied to marketing, product management, sales, etc practically for any industry (software, supply chain, hospitals, oil & gas, financial, etc). Business economics seems to be a more specialized degree and I would imagine the focus is more on the finances and internal investments of companies. I can see that a financial analyst would apply their theoretical knowledge from their business economics degree to analyze the company organizational structures, investments, finances, etc. If you excel in this area, then this might be the one for you. If you want to be more of a generalist and be marketable across a wide range of industries, then I recommend pursuing a business administration degree and completing the masters (since that seems to be the standard).
I appreciate the response, your answer is really helpful
Alex
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Matt’s Answer
To mirror what has been said above, Business Admin is more of a generalized business degree where as Economics is more focused. At the end of the day both are great degrees that will set you up for success. One caveat is that in my experience from going to Business School: Economics was considered the most difficult of the majors while Business Admin had simpler classes. The reason for that is Economics tends to pay more, I did a quick google search and found that Econ Majors tend to make about $30K more a year.
Its your choice but my recommendation would be to start with economics and see how it goes. If you love it great, if not you should be able to easily change your major to business admin. I have an economics minor and use it far more than my marketing major.
Its your choice but my recommendation would be to start with economics and see how it goes. If you love it great, if not you should be able to easily change your major to business admin. I have an economics minor and use it far more than my marketing major.
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Amy’s Answer
Hi Alex - I think Betty is correct. Business Administration is more general and Economics really focuses on macro and micro economics and the effect of those on business. Depending on what you are interested in, both can help you move forward in business. Econ is often the only business class or major offered at smaller liberal arts schools. Business Administration and Business Management are both really great generalized business majors for getting into a business job. Whichever major you find most interesting (make sure you look at the classes you will take as a junior and senior) is the right choice.
Good luck!
Good luck!
Thank you for your response!
Alex