Economics vs. Finance
“A course of study majoring in finance focuses on financial management, insurance, investments, banking and related topics” (Shane). Finance is a major that under the Business college. Student who studies finance also need to take some economics classes. They can pursue careers in banking, stock market, bond trade, insurance company, etc.
Compare with Finance, Economics is a broad study which includes topics related to finance. According to Shane, economics strives to understand a dimension of human and societal behavior: in this case, how individuals and societies deploy their resources. The economists will predict or analyzes the supply of resources to balance people's desire and the available resources.
Since there are many financial management issues, the business degree in finance may appear more marketable than a degree in economics. People who studies finance will have more chance to choose their jobs than the economic student. However, according to the report of economic association, economics majors actually earn higher starting salaries than students with business degrees, including those who majored in finance. It reports that the average starting salary in 2007 for an economics major was $48,483 a year, compared to $47,239 for a graduate with a finance degree (Shane).
I thought Economic major is under the Business college before. However, it's part of social science. The student in Economic major would study sociology, political science and psychology. After I doing the research about the differences between the Finance and the Economics, I have a new view of these two studies. Also, I am glad that I choose the Economic major when I saw the information above based on the salary of an economist. Ha~
Work Cited:
Shane Hall, eHow Contributor. "Economics Vs. Finance". Business and Society. eHow money. 2013. Web. Nov.05.2013.
http://www.ehow.com/about_7551786_economics-vs-finance.html
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