Finance vs Economic Sciences which degree to study in 2022
Would you want to understand something about money transactions, finance vs economic sciences, and market trends but you don’t know whether you should pursue a degree in Finance or study Economics?
hold on, we’ve got you covered you! In this article, we’ll discuss the main distinctions between these fields, the job opportunities available as well as the subjects you’ll be studying during the course of your studies.
At the end of the course, you’ll know if need to choose the master’s program with a focus on Finance or Economic Sciences and you’ll be able to make better decisions of your academic and professional future. you can also use these preferred financial tools to in making good decisions to meet your future goals.
The difference between Economics and Finance. the difference?
Finance, as well as Economics, are two closely-related disciplines that often overlap, However, the distinctions between them are substantial. They shouldn’t be thought of as distinct, even though. Both complement the other. That being said…
Economics is the broad discipline that examines the diverse ways products and services are produced or distributed and then sold. Economics also analyzes the global and regional economies as well as markets and examines the choices of consumers (e.g. what they purchase, the reason they purchase, and where they purchase from).
Financial matters are more particular and mostly is concerned with financial systems. Finance studies banking institutions and policies, as well as credit policies and savings, investments, and more. It also studies the development and management of money.
The three main subcategories of Finance include Public Finance, Corporate Finance as well as Personal Finance. There are also other areas of study offered by universities and colleges.
Best universities in which you can learn Finance or Economics
There are numerous institutions that offer Finance or Economics degrees. These are some of the institutions we suggest you check out:
We recommend finance universities to our clients.
- Durham University, UK
- Tilburg university, Netherlands
- HEC Paris, France
- Alba Graduate Business School, Greece
- University of Newcastle, Australia
- IU International University of Applied Sciences, Germany
- International Business School, Hungary
We recommend Economics-related universities at our top.
- University of Cologne, Germany
- Institute Politechnique de Paris, France
- Utrecht University, Netherlands
- University of Antwerp, Belgium
- The New School, US
- Central European University, Austria
- University of St. Gallen, Switzerland
- University of Portsmouth, UK
- Maynooth University, Ireland
- Sabanci University, Turkey
Finance vs Economics specializations
One of the major benefits of taking a course in Finance in Economics or Finance is that you do not need to choose a standard degree. A variety of specializations are offered (especially at the master’s level) Here are some examples to help you get going:
Also, explore these lists of the best Economics universities.
Finance specializations
- Global Finance
- Management Financial Management
- Sustainable Finance
- Investment Management
- Banking
Economics specializations
- Applied Economics
- Health Economics
- Development Economics
- Public Economics
- Behavior Economics
Classes in Economics vs Finance
Not all Finance or Economics courses are created equally. Every academic program has an academic curriculum and educational goals that can differ widely. This is the reason you must make sure you check out the classes you’ll be taking to find out whether the degree you’re taking is a suitable match for you.
However, these are just a few of the typical classes you’ll be taking as an Economics or Finance student:
Finance classes
- Corporate Finance
- Modern Finance
- Asset Pricing
- Accounting Fundamentals
- Quantitative and Statistical Analysis
- Accounting and Financial Reporting
- Investment Appraisal
- Accounting and Information Systems
- Financial Derivatives
- Ethics of International Business
Economics classes
- Mathematics
- Statistics
- Econometrics
- Macro and Microeconomics
- and Development. and Development
- Economic Networks
- Economic Analysis
- Theory of Economic Theory
- Econometric Methods
- Economic Growth
Economics and Finance skills
In order to be a successful finance professional or economist these are the most crucial abilities you must learn and master:
- Collect, analyze and analyze data
- Use statistics to work
- Examine and analyze the value of investments
- Financial reporting
- Analytical abilities
- Skills to solve problems (solving financial problems)
- Skills in accounting (especially for experts in finance)
The list can be endless. Nowadays, digital abilities are important, and having a basic understanding of business is an advantage. We’ll let you explore these and more skills in your studies at university.
Jobs in Finance vs Economics and pay
The two Finance, as well as Economics positions, are expected to last for the foreseeable future! Actually, if we look at our own US as an instance, the outlook for jobs is very positive. Here’s the data from the Bureau of Labor Statistics: US Bureau of Labor Statistics:
- 14% more demand for economists by 2029.
- A 15% increase in demand for financial professionals by 2029.
Although there are many opportunities in the field of Finance and Economics students These are the most well-known ones there. We’ve also provided the median annual salary in the US according to data from PayScale
Payroll and jobs in the Finance industry
- Personal Financial Advisor – 63,940 USD/year
- Financial Analyst – 61,490 USD/year
- Budget Analyst 62,500 USD/year
- Loan Agent 48,660 USD/year
- Financial Manager – 74,300 USD/year
Pay and jobs in the field of Economics
- Economic Consultant 75,980 USD/year
- Economic Analyst – $ 62,820/year
- A Credit Analyst, 51,930USD/year
- Market Research Analyst 54,560 USD/year
- Policy Analyst – 59,000 USD/year
Conclusion as regards the topic Finance vs Economic Sciences which degree to study
- Finance, as well as Economics, can be closely related however they are not the same disciplines.
- Economics studies global or local markets, human behavior as well as the supply and demand for goods and services, and so on. Finance is focused on financial systems and all that goes with them to them, including loans, banks, savings, investments, and so on.
- Both of them open the door to lucrative and highly-paying jobs.
- A logical mindset as well as the capacity to analyze patterns and figures are crucial for success being a successful economist or financial analyst.
