Education / Economics / Administration

More about Economics / Administration

It is valuable to understand both the workings within a company, as well as those external factors, which affect the performance and workings of both large and small organizations every day. This is one of the main differences of economics and business administration - micro and macro economics will teach you about the effects and workings of the money market, the effects of politics and policy along with how for example interest rates work. Business administration on the other hand, is far more concerned with the inner workings of the company - how the business is best organized to maximize the profits of the company for future growth.

Business administration can include such areas as marketing, logistics, business planning, accounting, management and human resource management to name just a few. Often earlier degrees such as bachelor or diploma programs will give a general overview of many of these areas.

If you find an area, which interests you to a greater degree, you will after completing a bachelor in business administration or economics, be able to move on to a further master degree within a specialist area such as those named above. If you choose to work for a few years between your bachelor degree and continuing your studies, a further and popular option is to continue with a Master of Business Administration or MBA as they are commonly called.