Business Administration VS Business Economics?

Major: Business Administration/Management

Be the boss’s boss. Or, at least, be a boss. And while you may not be the boss’s boss on day one, organizational gurus with stellar people skills and a head for business will flourish in business administration/management.

Creating and perpetuating a successful business has always been a challenge. And in the only-the-strong-survive world of modern business—rampant with new, ever-advancing technology—managers need unshakable knowledge, top-notch training, and a serious set of skills.

Management, according to Penn State University, involves “the coordination of human, material, and financial resources to accomplish organizational goals.” A major in business administration/management will provide that goal—focused training. You’ll get a thorough grounding in the theories and principles of accounting, finance, marketing, economics, statistics, human resources functions, and decision-making. You’ll come away a whiz on how to budget, organize, plan, hire, direct, control, and otherwise manage various organizations.

As a major in business administration/management, expect to work in small groups—no room for wallflowers here. Count on problem-solving, theorizing, and math-heavy number-crunching, too. You’ll have your choice of areas in which to concentrate; many colleges and universities require you to focus on one, while others allow you to sample several. Options might include operations management, human resources management, and general management.

This major will also get you thinking about issues such as diversity, ethics, politics, and other dynamics that play a role in every work environment. As a manager-to-be, you’ll also be required to develop a balance between sensitivity and fairness. You’ll need to be innovative, creative, and a good problem-solver. These qualities (and your winning personality) will put you on a path to successful management in any number of fields.

Possible Careers

Accountant/Auditor

Advertising Executive

Bank Officer

Bar/Club Manager

Benefits Administrator

Business Valuator

Consultant

Health Care Administrator

Hospital Administrator

Hotel Manager

Information Manager

Management Consultant

Manufacturing Executive

Market Researcher

Marketing Executive

Performing Arts Administrator

Plastics Manufacturer

Police Officer/Manager

Power Plant Manager

Production Manager

Public Health Administrator

Quality Control Manager

Restauranteur

Small Business Owner

Sports Manager

Venture Capitalist/ Investor

Major: Economics

Quick quiz: Suppose several producers of Your Favorite Product suddenly go out of business, causing a serious shortage of Your Favorite Product. Nonetheless, everyone still wants to buy the same amount of it. What will happen to the price of Your Favorite Product?

If you predicted a price increase, you may have a knack for Economics: the study of the production, distribution, and consumption of goods and services.

More broadly, Economics is the study of how individuals, businesses, governments, and societies choose to spend their time and money, and otherwise allocate their resources. Even more broadly, Economics is the study of choices. When the federal government decides to allocate a certain part of national budget to military spending and another part to funding for the arts, that decision and its consequences is Economics. Similarly, when you decide to buy a CD instead of a fancy new shirt (or watch Nick at Night instead of MTV, or take the bus instead of your car) that's Economics, too.

Knowledge of Economics is an invaluable component of any liberal arts education, not to mention an indispensable tool for making sense of the intricacies of the modern world. It is also excellent preparation for a future in business, as well as for graduate studies in law, public policy, and international studies.

Possible Careers

Accountant/Auditor

Actuary

Attorney

Bank Officer

Bookkeeper

Buyer

Corporate Lawyer

Diplomat/Foreign Service Officer/Specialist

Economist

Insurance Agent/Broker

Investment Banker

Labor Relations Specialist

Management Consultant

Market Researcher

Marketing Executive

Researcher

Small Business Owner

Statistician

Stockbroker

Trader

Venture Capitalist/ Investor

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Business Administration VS Business Economics?

I am studying in a community college and want to major in business. I want to transfer to UC. But then, most of them have business economics instead of Business Administration. They sound similar and they overlap in some sorts of way. What is the real difference between these two. What jobs can I...