Indiana University: Economics or Finance?

I would like some advice on what I should go to Indiana for. I do not have a high enough ACT score to get direct admission to Kelley(require a 30, have a 28). So my choices are to either dive right into economics or wait a year to potentially get into Kelley. I know that IU’s finance program is much more prestigious than its economics program. So my choices are to either start right away with economics or wait a year to potentially get admitted into a more prestigious program. What are your thoughts?

It is important to understand that economics and finance are very different majors. Economics is a liberal arts course of study and gets very theoretical at the upper levels. In contrast if you go to an undergraduate business school you will take a business core with introductory classes in subjects such as accounting, finance, IT, marketing etc. and then you will major in one of those disciplines. They are different paths.

Here are my questions:
–Can you start as an economics major and then try for an internal transfer into Kelley?

–If you wait a year what would you do to increase your chances to get into Kelley the following year?
–Have you considered other b-school programs that you might qualify for now and can afford to attend?