<p>What is the difference between an economics major and a finance major? Which is better for the financial sector of the business world, considering they are from equal schools? If I plan on getting an MBA, which would be advantageous, not from an admissions stand point though.</p>
<p>Finance is more practical and more likely to be used in a job.</p>
<p>Can anyone tell me the differences between the two majors?</p>
<p>Economics is a social science whereas finance is more of a "real-world" major. In basic terms, econ=theoretical, finance=practical.</p>
<p>Economics has more than one curriculum option usually, it can be very social science based (theories about politics and the economy, etc.), or more business centered (application of economics in business decision making). Economics is a broad major, hitting on a wider scope with more ambiguity involved. Economics is more focused on thinking, theorizing than practical application. Additionally, as part of the business curriculum, most schools require economics classes... macroecon/microecon/econometrics. </p>
<p>Finance is completely business based, and you may or may not take finance classes in an economics major. Finance teaches you aspects of interest, return on investments, cash control, equity, budgeting, etc.. more of the practical everyday functions of obtaining, using, and controlling money in the business world.</p>
<p>If I plan on getting an MBA, which major would be more useful?</p>
<p>Either... your MBA will be more dependent upon work experience, GPA, and GMAT... not so much major.</p>
<p>I'm not talking about which major would help to get admitted, but which would give me a better education. I've heard that economics is more useful because a lot of what you learn for a finance major is taught for an MBA, is this true?</p>
<p>There really isn't one that's better because getting a job is more than your degree. The one you like better and think you'll do better in will be the better choice for you. If you like the study of business and want to go for a more real-world, case-study based curriculum, finance/accounting would be the thing to choose, where practice and analysis go hand-in-hand. If you prefer a more theoretical analysis, econ is a broad field that will do the trick. Remember that both will require quantitative and general analytical skills. However, you might discover that you'll be doing a bit more research as an econ major than a finance major, depending on the aspect of econ you want to focus on. </p>
<p>There's more to getting an MBA than your undergraduate education. Many will tell you that an MBA repeats an undergrad business program and that it's better to go with a liberal arts degree as an undergrad. It really doesn't matter, though. That's why just do what you like. If you're not in the business program at your school and are competing with the business kids, there are still ways to "fit in" among them.</p>
<p>I was wondering if other people out there had opinions on the debate about the value of an undergraduate business program. I ask because I am struggling a bit in deciding the course I will take in my undergraduate studies. On the one hand I could apply to my school's undergrad business program (McIntire at UVa) and double major in finance and econ, or I could skip the undergrad business, concentrate in economics and mathematics (with a financial concentration) and pursue the more "practical" studies of business in graduate school down the road possibly...Just looking for some thoughts I guess. I'm quantitatively orientated so I think I could do well either way.
Oh, by the way, I'm interested in working in the world of investing - maybe wall street initially, and ultimately I would love to run some type of sophisticated investment pool (hedge fund basically).
Thanks, any input would be appreciated.</p>