Many students face a dilemma when deciding between subjects for their university entrance exams or majors for their bachelor’s degrees. One common choice that needs to be made is between studying economics and business studies. While a student has the option to study both, some universities prefer students to take on a variety of subjects instead of studying subjects that cover similar aspects, such as business and economics. This article aims to provide a clear explanation of each subject matter and show how these two are similar and different from one another.
Key Takeaways
- Both business studies and economics explore some common concepts, but economics focuses on how the actions of firms, individuals, and governments can affect local and global economies, while business studies focus on businesses, industries, management strategies, and human resources.
- Economics is more academic than business studies and has a larger number of models and theories, whereas business studies require more learning and working through various topics and business-related concepts.
- Economics explores concepts in greater depth, while business studies explore a wider variety of concepts in greater breadth.
