Would a BA in economics and a bachelor’s in business administration lead to similar career prospects?
Deciding between the two majors is a difficult task to carry out as both degrees have their own set of pros to offer. Economics helps students think strategically to achieve the best possible outcome. Economics graduates are mostly in-demand in the financial sectors, such as banks, insurance companies, investment companies, and real estate firms.
On the other hand, studying business administration brings prestige. The degree is considered a stepping-stone to a successful and rewarding career. Pursuing a BA Business Administration course helps students develop a comprehensive hard and soft skills set. Unlike economics, the business administration programme provides students with business fundamentals, such as human resources, accounting, finance, operations, strategy, and marketing. Put simply, a business administration programme prepares students to take on complex challenges in the real business world.
If we talk about the career prospects of both majors, saying that economics and business administration do not lead to similar career prospects will be deceiving you. Both degrees are interchangeable and offer almost identical career opportunities, such as financial risk analyst, data analyst, accountant, investment banker, economic researcher, financial consultant, investment analyst, and business analyst.
In case you are unsure about choosing the one out of both, we will provide you with specific differences that will help you make a well-informed decision for your career. So, read on to understand which degree suits you best before choosing the one.
- Are you detail-oriented?
Studying economics helps people understand the world around them. The subject allows economists to gain a deep understanding of people, businesses, markets, and governments. This will enable them to respond to emerging threats or opportunities better. On the other hand, business administrators manage work within a particular organisation.
- Want to gain hands-on experience?
Business professionals possess astute business sense, allowing them to respond strategically to challenging situations in the real world. They spend most of their time managing people and other verticals of the company. On the contrary, economists spend most of their time discovering theories.
- Wish to make a real impact?
As we know, economists make economic policies, but politicians decide whether to implement them or not. Politicians do not really care about theories. Frankly, economists do not have the power to fix things themselves. On the contrary, business administrators have the privilege to make a difference in the real world.
- Want to obtain practical skills?
Lastly, business administration graduates possess a set of invaluable transferable skills, such as problem-solving, decision making, critical thinking, strong communication skills, analytical thinking, logical thinking, presentation skills, networking, time management, teamwork, leadership, and self-motivation. In contrast, economists are more into theory. They possess more theoretical knowledge over practical skills.
Winding Up
A Bachelor of Arts in economics and a bachelor’s in business administration both majors lead to identical career paths. It totally depends upon you what interests you more. Students interested in studying for a bachelor’s in business administration can explore top business schools in Germany’s Berlin for better career opportunities. Apply now!
