Business vs. Economics: What is the difference?
How colleges classify business versus economics can vary. The way I would explain this to students is that business programs tend to be pre-professional in nature, with some colleges awarding degrees such as a BBA (bachelor’s of business administration). On the other hand, economics is a key element of many programs at liberal arts schools, as economics includes monetary and consumer behavior theory. Students trained in economics learn important critical thinking and reasoning skills. So often economics can be a component of business programs, but business programs are not necessarily offered by colleges teaching courses in economics.
A business can be small, large, intn’l, wholesale, retail, mfg. It all depends on what kind(s) of business we’re discussing. Economics goes far beyond just business, and there’s macro, micro, financial, Keynesian, etc. Economics includes business, but business doesn’t include economics.
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