Economics and business are two erroneously interchangeable terms. The relationship between economics and business administration is identical to physics and engineering. Economics and business administration belong to the business science that works together for efficient business operations. Even though both fields of study are distinctly different, both degrees tend to lead to similar career options in the long run. Economics and business administration are essentially economic procedures. But, economics is the bigger picture of which business is an integral part—understanding the basics of economics help in understanding the market that can influence the business.
If you are interested in learning economics and business, the BA Business Administration course can be a perfect fit. This course in Berlin is popularly known as a BA in Economics and Business Administration, a three-year undergraduate course that will eventually offer you a European bachelor’s degree. The undergraduate course is helpful to cope with the complexities of the global economy, as it develops the fundamental knowledge of business principles for the global business environment. It allows you to understand various aspects of business, including economics, accounting, human resources, business law, marketing, and information systems.
Let’s dive into understanding the relevancy of economics in studying business administration.
What is Economics?
Economics is considered the second-sub area of the business sciences, which examines a large economic area rather than individual companies. It is based on statistics that create recommendations relating to economic matters. It is an important factor in making political decisions since it undertakes topics, such as inflation, taxation, GDP, duties, etc., which profoundly impact business.
What is Business Administration?
Business administration is that aspect of a business that deals with the economic management of organisations. It entails the efficient planning, supporting, and analysing the internal processes of logistics, marketing, product procurement, logistics, and controlling that ensure a smooth business operation.
How is economics relevant to business administration?
As discussed, economics and business administration are both subareas of business sciences. Economics is a bigger picture that focuses on the behaviour of business which inturns overlap. An economics degree will take into account the aspects of business, and a business degree will include economics aspects. Thus, both are highly relevant to each other, and mainly economics is highly relevant to the study of business administration.
How to learn business administration and economics simultaneously?
The BA in economics and business administration degree programme simultaneously focuses on developing a cutting-edge knowledge of economics and business. This course provides a comprehensive understanding of business administration and relevant subjects, like economics. Here are the modules covered during the three-year undergraduate programme:
- Introduction to Business Administration
- Economics
- Business Management
- Organisation Dynamics and Behaviour
- Information Management
- Monetary Economics
- Statistics and Business Statistics
- Banking and Finance
- Public Economics
- Marketing
- Financial Accounting
- Management Accounting
- Business Law
- Industrial Organisation
Thus, this covers the economic aspects of business administration in a programme that can make you employment-ready across various sectors. So take the next step and enroll in the BA economics and business administration course to hone the in-demand knowledge and skills. Apply Now!