Why we study a country's economy

The difference between business studies and economics studies

Would you like to study business administration or would you prefer a degree in economics? Combine both in an economics degree? Business administration, economics, economics - what are the differences and what are the similarities? Are you spinning your head with all these terms? Do not worry, we will shed light on this and make it clear to you what which degree program means.

Would you like to qualify for a job in business and in a company and pursue a career in management? No problem! But which course is the right choice? During your search, did you not only come across the term business administration, or business administration for short, but did you also find economics courses?

Business administration and economics are both sub-disciplines of a larger whole - economics. You can study all three areas and all three subjects prepare you for a career in business. But although all three courses have a lot in common, there are also significant differences. Here we explain to you what the various courses of study are all about, what their differences are and what they have in common.

Business administration, economics, economics - what do you mean what?

In order to better understand the differences and similarities between these three most important courses in the field of management, it is important to know the terms exactly and understand their meaning at the beginning.

For this reason, we wanted to bring you closer to all three subject areas and study features in detail. You can find out everything about specific course content, requirements and different types of study in detail from the individual Business administration courses.

Economics

The term economics refers to the general teaching of economics. This subject combines the two sub-areas of business administration and economics. It is, so to speak, the superordinate subject in which you learn the most important and fundamental aspects of both disciplines.

However, the definition of the course is not always very clear at many universities. Often the Degree in economics Used synonymously for business administration - the course content is therefore identical. At some universities only the faculty is named with economics. The courses offered there are either business administration or economics.

In this course of study, students receive a broad basic education and therefore do not have to decide on a specific subject at the beginning of the course. Only later on can you set your own individual priorities, which then lead to deepening individual areas. However, this is not the case at all universities either, at some institutions the Bachelor’s degree in economics aims to ensure that the specialization can only be selected with the Master’s.

It makes sense here to look at the curriculum plans of different universities in order to identify similarities and differences to the business administration degree or between the various offers in the field of economics.

Business Administration (BWL)

Business administration is the study of the organization, control and management of companies. The Business Administration Studies deals mainly with teaching for the implementation and control of the various capital-oriented corporate processes. At most universities, it is customary for basic subjects from all study-related areas to be on the timetable at the beginning of the course. After a few semesters, you can choose a focus in one or more departments in order to specialize here for later professional use.

More information on the topic "What is business administration?" and "Bachelor of Business Administration" can also be found here with us!

Economics (VWL)

The second branch of economics is the Economics (short for economics, also political economy or social economy) with the investigation of the connections between the production and distribution of goods and production factors. Economics deals with a wide variety of issues relating to the relationship between social life and the economy.

"Why do gasoline prices fluctuate so much?", "How much national debt can we afford?", "What does a good tax system look like?" - These are just a few of the questions that economists' analysis will answer.

Economics is largely based on statistics. You can then Assumptions about human behavior to be hit. Belong accordingly Mathematics and statistics for the tools of the trade of every economist. Most universities can set priorities in higher semesters. These can e.g. B. in the areas of monetary theory, environmental policy or globalization.

What is the difference between a degree in business administration and a degree in economics?

While economics combines both sub-areas, there are some significant differences between the business administration degree and the economics degree. We want to explain these differences to you in detail here to help you decide on a specific field of study.

The Economicswhich is only called economics in general usage and especially among students, primarily examines the economic process and its regularities in society. For the most part, it's about understanding the big picture and not the individual effects of specific effects on the economy. Models are developed and tested to describe the behavior of households and companies in markets. The aim of this is to explain the development of wages, prices, production and trade. That is why VWL also examines a very broad subject area with points of contact with many neighboring disciplines such as sociology, political science, psychology, law or business administration. Especially where economics deals with the behavior of households and companies, issues of business administration (BWL) and economics overlap. The difference between the two subjects is not to be found in the subject of investigation, but in their methods.

In the area Business administration you focus mainly on company-related content, even if mathematics and statistics play a role in business administration, the collection of models is not as important as in economics. In business administration are social science aspects the more important topics and you learn the facts through case studies. The business administration usually takes the perspective of companies and examines entrepreneurial processes.

As you can already see, there are not only differences between the two major fields of study, but also common interfaces. In addition to the content overlap, business administration and economics also have structural similarities. Both courses deal with the subject of economics and prepare for a career in management. Another thing that business administration and economics have in common is that you can study both at many technical colleges and universities across Germany. The offer of the universities is extensive and diverse. The third thing in common is that both the business administration and economics studies must be completed with a bachelor's and master's degree. You can build on your academic career or complete a master’s degree in economics.

Important:If you decide to study business administration or economics, you are not locked in forever with this choice. In every degree you have the opportunity to get through special wells to give your studies its own focus during the course of the course. You can also choose to work in economics with a degree in business administration and vice versa.

Look for a suitable one Business studies course deciding is not even done between the door and the hinge. The different names require some time to filter out the differences and any similarities between the fields of study. It is important to know, however, that the different terms used in business studies often mean the same thing and are sometimes even identical.

All courses mentioned here are based on a business and / or economic basis. Therefore, your primary goal should not be to decide on a course with a melodious name, but to compare the course content of the individual offers and only then decide which course at which university actually meets your requirements and wishes.