<p>Hey.
I'm kind of confused on whether to do economics or business for undergraduate...
What is the difference between majoring in Economics and majoring in Business?
Are there any advantages or disadvantages?</p>
<p>Thanks</p>
<p>Business tends to have more of a practical bend, while economics is more high-level and theoretical. If you're aiming for entrepreneurship, go for business; if you want to become president, take economics (please).</p>
<p>Economics is part of every Arts & Science program in the US, as well as every Liberal Arts college (LAC). It is considered a bona fide social science, and recognized as such by the Nobel Committee. Its roots are in history, political philosophy and mathematics. It is viewed, generally, as a more serious academic and scholarly discipline, and it is more theoretical than "business."</p>
<p>Business is a broad collection of practical subjects (e.g. finance, marketing, accounting, human relations, operations, etc.). It can include economics. Business is seldom part of a serious Arts and Science currriculum, or a major in a respected LAC. Business subjects are found in a university in a School of Business. </p>
<p>Generally a degree in economics in viewed more highly than a degree in business, but a business degree can be more practical. There are exceptions. </p>
<p>As the end of the day, you have decide if you want a less practical, but more academic education in the Arts and Sciences or a more practical, less highly-regarded education in business. Some make the distinction between an "education" and "practical training."</p>
<p>What do you want to do??????</p>
<p>BalletGirl hit the nail on the head.</p>
<p>I've known students who have simultaneously earned degrees in a business field and in economics; for example, accounting (in business school) and economics (in A and S). </p>
<p>In general, economics majors have more well-rounded undergraduate educations, including humanities and a variety of social sciences, and almost always more (and higher-level) math.</p>
<p>If you are thinking of attending law school or graduate school, economics is a better undergraduate degree.</p>
<p>ballettgirl's description is very accurate.</p>
<p>it is worth noting, that depending on where you want to go, highly prestigious economics programs are often much more selective than the most highly ranked business programs. the obvious exception to this would be wharton at penn.</p>
<p>the majority of schools ranked in the top 20 by usnews (and thus the schools most recruited by top finance firms) do not offer business degrees, therefore, while the "practicality" of a business degree has been championed here, the most efficient way to a top job in the finance industry is through an economics degree at a top university.</p>
<p>
[quote]
It is considered a bona fide social science, and recognized as such by the Nobel Committee.
[/quote]
</p>
<p>Uh, while this may be quibbling, it isn't really quite true that economics is "recognized by the Nobel committee", strictly speaking. Strictly speaking, the Nobel Prize in Economics isn't really a true Nobel Prize at all in the sense that it is not actually administered and awarded by the Nobel Foundation and is not stipulated by the will of Alfred Nobel. </p>
<p>The true and full name of the 'Nobel Prize in Economics' gives it away: "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". That's right, it is an award run and awarded by the Sveriges Riksbank (which is the central bank of Sweden) in memory of Alfred Nobel. Furthermore, the actual cash prize of the award is not actually derived from a gift from Alfred Nobel's estate, but is rather funded out of a separate endowment established by the Sveriges Riksbank. The Economics Prize was first awarded in 1968, almost 70 years after the other real Nobel Prizes started to be awarded. Why 1968? In order to celebrate the 300th anniversary of the founding of the Sveriges Riksbank. It has nothing to do with Alfred Nobel's death or estate. </p>
<p>However, we should note that Alfred Nobel was never affiliated with the Sveriges Riksbank. Neither do the Sveriges Riksbank and the Nobel Foundation have any formal relationship. Nevertheless, the two organizations often times cooperate with each other in terms of marketing and promotion, and the Sveriges Riksbank does mimic the award criteria used by the Nobel Foundation.</p>
<p>Nevertheless, it is still a matter of controversy as to whether the 'Nobel Prize in Economics' should be called a Nobel Prize. Many of Alfred Nobel's relatives seem to strongly believe that the prize ought to be abolished, or at least, that the Nobel moniker should be removed. </p>
<p>The</a> Local - Nobel descendant slams Economics prize
<a href="http://news.independent.co.uk/europe/article146932.ece%5B/url%5D">http://news.independent.co.uk/europe/article146932.ece</a>
Abolish</a> the Nobel in Economics, Many Scientists Agree by Hazel Henderson</p>
<p>^^It's quibbling. It is interesting, but it's quibbling!</p>
<p>Is an Economics degree within the Business school viewed with any less regard? At my school it’s Business Administration: Economics and Finance, and I take business classes in addition to 27 hours of Economics. If I make an effort to take additional stats and math classes, would this be seen as compatible to a pure Econ degree from A and S for example?</p>
<p>“Top jobs in finance” come with MANY costs. hardly the best job for everyone. Generally a very sick industry that has outlived its once true usefulness and now is just a rent-seeking parasite on the broader economy.</p>