Choosing a major is the first step in your career path. Your major will help you decide which careers to pursue and which ones you should avoid.
It will also guide your studies throughout your college career.
We consider business and economics majors to be some of the most difficult majors to pursue, but we also consider them to be one of the most rewarding.
Business and economics majors are good at critical thinking, analysing situations, and using the power of numbers. This makes them great for many jobs that require this type of skill.
They also have excellent writing skills and superb communication skills. The downside is that they may not be as flexible as other majors, and it's difficult to change careers.
The major you choose will affect the careers you will pursue after college.
The Overview of Business and Economics Degree
The goal of a business and economics degree is to give students the skills and knowledge needed to be successful in business.
A business degree focuses on the theoretical side of business, while the study of economics focuses on the practical side.
Both degrees will give you a broad overview of business and economics, but each major has its own strengths and weaknesses.
Business and Economics majors will require some coursework in maths, but not as much as other majors, such as science or engineering.
Most schools will require at least one class in accounting or financial management, although many schools may require two classes in accounting or finance for a minor in that area.
Most schools also require courses that cover basic concepts of accounting and finance.
It includes things such as accounting systems, cash flow statements, basic business law, budgeting and statistical analysis, etc.
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Other required courses may include human resource management (HRM), marketing, quantitative methods (i.e., statistics), organizational behaviour (OB), international business (IB), communication skills (i.e., public speaking), or analytical skills.
Business studies usually spend most of their time taking classes that cover a variety of different topics in a particular field, such as accounting, financial planning, marketing, etc.
In contrast to this, many economics students spend most of their time taking a course on a particular subject.
They include microeconomics, macroeconomics, business statistics, economic theory, public policy, etc.
Most economics and business students take part in internships throughout their college career.
This way, economics and business graduates can gain transferable skills necessary for your future career.
Besides this, most business and economics majors will take part in research projects that are focused on a particular topic.
While there are many advantages to pursuing a business or economics degree, the major can be difficult to pursue.
The time required to pursue a degree is long compared to other majors, such as engineering or biology.
However, the benefits of pursuing a degree in business and economics make it well worth the effort required.
Career Options for Business and Economic Degree
The common jobs for students who graduate with business degrees are:
- Business Analyst
- Management Consultant
- Human Resources Officer
- Business Manager
- Marketing Specialist
- Financial Analyst
- IT Specialist
Meanwhile, the common jobs for economics graduates are: Finance Analyst, Credit Analyst, Marketing Manager, International Trade Specialist and International Trade Negotiator.
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Pursuing Economics and Business School
It is difficult to find a single career path that is well suited for all majors. In fact, it is often said that a degree in one major will not open up all the career options you might be interested in.
It may be more important to focus on which careers you want to pursue and the professional qualifications you need to pursue them.
However, if you will dedicate your entire life to your degree, then it would be wise to pursue a business or economics degree. It will make it easier for you to get a high-paying job after graduation.
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