Study abroad - Economics / Administration

More about Economics / Administration

Economics is a social science which analyzes the production, distribution, and consumption of goods and services. Students enrolled in economics degrees study the behavior of economic agents and how economies function, on both a small and large scale.

Two main branches of economics are microeconomics and macroeconomics, through which students learn about the effects and workings of the money market and economic policies. Macroeconomics analyzes the economy and the issues effecting it such as economic growth, unemployment, and inflation. Microeconomics examines the behavior of basic elements in the economy, including individual agents and markets, and their interactions.

Business administration on the other hand, is more concerned with the inner workings of the company - how businesses are best organized to maximize the profits of the company for future growth. Business planning, human resource management, logistics, marketing, and accounting are included in a business administration degree.

Upon completion of a business administration or economics degree, you can choose to continue your studies within a specialized area, or perhaps enter into a business or consulting career right away. Another popular option is to gain economics or business administration work experience for a few years and then return to academia with a Master in Business Administration (MBA) degree.

It is valuable to understand both the workings within a company, as well as external factors that effect the performance and workings of both large and small organizations every day. A degree in economics or business administration provides this knowledge and much more!

>> Read more about the economics field