<p>OK, I'm pretty sure this question has probably been posted before, but what are the basic differences between an Economics major and a business/finance major? Also, tell me which would be more advantageous for someone who plans to go to law school and eventually work in Corporate Law.</p>
<p>Thanks in advance for answering what is probably a very overasked question.</p>
<p>bump asfdjklejifjeuianfjfnkenifjhasfd</p>
<p>The basic difference: economics is a social science, while finance is not.</p>
<p>The answer to your second question would depend on what school you attend; however, either major is fine if you want to go to law school, although it may be advantageous to have more of a liberal arts background rather than a b-school background.</p>
<p>if law is definitely your goal, and non-specific (e.g. patent, specific tax, etc.), i'd say econ w/ a quantitative background (studies show that math majors do the best on the LSAT... while this may not help in law school, it will help you to get in a better one). </p>
<p>i'm personally leaning heavily towards finance undergrad (between chicago econ & wharton finance... depends on finaid package right now) if money isn't an issue mostly because i don't see law as an end-all goal. if i do choose to go to law school, it would be used as a tool to help in my business endeavors. part of the reason too is that it's too hard to turn wharton down with my goals in mind.</p>
<p>sorry if i'm rambling. and like ryanbis said, a lot of it depends on what school you attend. wharton finance vs. non-flag state-U, or chicago/MIT/HYPS econ vs. some other, much less well-known/respected U. i should also probably note that i would be wary about taking econ at a lesser-known U and may opt for something like engineering/accounting/pre-professional as a fallback. with an engineering background, patent law and the fantastic compensation that comes w/ it is just a hop, skip, and a jump away. similarly, accounting (or finance or whatever) may be better suited if you're certain you want corporate law, and you can still become specialized w/ a pre-professional bachelor's.</p>
<p>guess the question is: what school?</p>
<p>Here's the schools I am looking at:</p>
<p>Wharton
Yale
Dartmouth
Cornell
Virginia
Miami (OH)
Notre Dame
Boston Coll
Southern Methodist
UT-Austin</p>
<p>wharton, yale, dart, UVa i think top the group. and the prospective majors with each of them would do just fine. cornell, BU, ut, ND are good as well, just not in the same tier as the others. depending on school preference would probably decide your major as some of them don't offer both (or both within reason... wharton finance > upenn econ imo even though you get a bachelors (b.s. vs. b.a.) in econ either way)</p>
<p>I would heartily recommend economics over business. Firstly, it is far more versatile. You can always supplement your economics coursework with classes in business, esp. given where you are applying. And as many other posters have pointed out, not all business programs are created equal.</p>
<p>If you do decide to apply to law school 5 years or so from now, you'll find that many law schools now seek applicants with some work experience. This will be your opportunity to distinguish yourself from the thousands of other applicants from other top schools. A degree in economics will have opened the door to a variety of opportunities; a degree in business may be more restrictive. </p>
<p>In conclusion, economics will keep more options open. I know you are certain in what you would like to do now, but college may change your mind. As a matter of fact, it wouldn't be worth your money if it didn't change your mind about something.</p>
<p>P.S.: I went from wanting to study the fine arts, to studying poli sci w. the intention of getting a JD, to studying econ/poli sci/public health w. the intention of getting a PhD in development economics. (I'm pretty sure I'm sticking w. that last one.) I'm not saying this will happen to you, and I have a few friends who did pursue the goals they had when they originally entered college. Nonetheless, the possibility that you might change your mind is something to consider. As is the fact that right now there are more law students than there are jobs requiring law degrees.</p>
<p>Pip-pip: You stated that a degree in Econ may open more doors (as far as work experience) than a business degree would. Could you elaborate?</p>
<p>You can major in ANYTHING and go to law school, so I wouldn't pick a school based on what would be better preparation for law school. That being said however, if you are interested in corporate law in won't hurt to have a business background - either academic or through work experience.</p>
<p>I can't stand it when people say that business school is restrictive. If you are going to a program where ALL you take is business or even 75% is business then I would agree with that. But the top programs are NOT like that.</p>
<p>At Wharton, close to 50% of your classes are in the liberal arts so you can do as much as you want of something else and have as much flexibility, exploration, etc as you are willing to do.</p>
<p>I would investigate the curriculums more thoroughly as that is where the biggest differences between econ and business can be found. Someone who wants to study finance, management, marketing etc. typically doesn't want to take 12-15 classes in theoretical economics and vice versa. </p>
<p>Either curriculums will be good preparation for anything, but you need to figure out what you want to actually LEARN.</p>
<p>whartonalum, I can't comment on the specifics of Wharton's curriculum. It probably is different at the top schools. I do have to agree with you that you can major in anything and go on to law school. I know ppl who are students at top 10 schools now who majored in neuroscience and art history. </p>
<p>OP, as a current undergrad at a little-known state university, I've been recruited for/offered (paid) positions w. think tanks, lobbying organizations, national political campaigns, non-profits, etc. I've done research work; I also do freelance copy writing/editing and other marketing work. Having gained a fair amount of marketable skills along the way, I'm fairly certain I could do more business work if I had the inclination.</p>
<p>whartonalum - I will definetely look into the curriculums of the business programs and also the econ programs at my schools of interest. One of the reasons why Wharton is on my list is because I have heard that it provides flexibility. Thanks for your input.</p>
<p>pip - That's interesting that you have been recruited for so many different types of positions. I would like to have those types of options available to me upon completing undergraduate school. Whartonalum has stated that some business schools provide flexibility, so I will be looking at the curriculums in greater depth.</p>
<p>pip pip Can you tell me where you go and what you majored in, I would be interested in the stuff your doing.</p>
<p>Thanks</p>
<p>Nathan,</p>
<p>Business/Finance is to Economics as
Chemical Engineering is to Chemistry.</p>
<p>Get it?</p>
<p>Qwertip, got it. Specialization.</p>