Undergraduate degrees

abKadir

3

What is the difference between economics and finance vs economics and management?

Reply 1

MindMax2000

Universities Forum Helper

22

Original post by abKadir

What is the difference between economics and finance vs economics and management?

The obvious answer would be one has finance modules and the other has management modules. However, you're likely going to be looking for something more indepth than a one line answer.

Main differences to me are:

•

The finance modules are likely quantitative (or they should be). The maths involved shouldn't be that much different to what you need in a quantitative economics e.g. calculus, series, logarithms, etc.

•

Management modules are a lot more diverse and you should have more options in a joint management degree e.g. you would cover finance, accounting, business, marketing, HR, etc.

•

You are likely required or offer to cover business law, tax, and auditing in an economics and finance degree, depending on the individual degree

•

If you're looking for more exemptions towards professional accounting qualifications, the economics and finance degree is more likely to offer you more exemptions, but the total number remains low e.g. less than 5 exemptions out of 13-15 papers. The only way you know for sure what exemptions you can get is if you check the exemptions calculator on the individual professional accounting body's website

As I don't know in particular what degrees from which universities you are choosing to do them at, it's very difficult for me to confirm the difference in content and resolve to using generalisations.

In terms of careers, you can essentially become an economist with either degrees, although it's strongly recommended that you get a straight quantitative economics degree from a top end uni to do this (ideally with a master's and a PhD on top). As finance and management careers don't require degrees (other than say the CFA qualification), neither degrees offer any more career options than the other. Having said that, you can still go for careers that either don't require degrees (over 600 roles, and I won't bother listing all of them out) or which you can do with a degree in any subject (teaching, solicitor).

Reply 2

AB Kadir

Original post by MindMax2000

The obvious answer would be one has finance modules and the other has management modules. However, you're likely going to be looking for something more indepth than a one line answer.

Main differences to me are:

•

The finance modules are likely quantitative (or they should be). The maths involved shouldn't be that much different to what you need in a quantitative economics e.g. calculus, series, logarithms, etc.

•

Management modules are a lot more diverse and you should have more options in a joint management degree e.g. you would cover finance, accounting, business, marketing, HR, etc.

•

You are likely required or offer to cover business law, tax, and auditing in an economics and finance degree, depending on the individual degree

•

If you're looking for more exemptions towards professional accounting qualifications, the economics and finance degree is more likely to offer you more exemptions, but the total number remains low e.g. less than 5 exemptions out of 13-15 papers. The only way you know for sure what exemptions you can get is if you check the exemptions calculator on the individual professional accounting body's website

As I don't know in particular what degrees from which universities you are choosing to do them at, it's very difficult for me to confirm the difference in content and resolve to using generalisations.

In terms of careers, you can essentially become an economist with either degrees, although it's strongly recommended that you get a straight quantitative economics degree from a top end uni to do this (ideally with a master's and a PhD on top). As finance and management careers don't require degrees (other than say the CFA qualification), neither degrees offer any more career options than the other. Having said that, you can still go for careers that either don't require degrees (over 600 roles, and I won't bother listing all of them out) or which you can do with a degree in any subject (teaching, solicitor).

Thank you so much for your response.

I have already picked straight up economics degrees at KCL and QMUL, however I was wondering which of the two degrees to pick to fill up the remaining gaps.

I couldn’t decide between econ and finance at QM or econ and management at KCL. Before reading this I was slightly leaning towards econ and management at KCL due to its name and because of the courses role in a business.

As of reading this I think I now have more of a 50/50 stance. I might just hold out a bit and do more in depth research.

But once again I really appreciate your time in writing back to me

Reply 3

MindMax2000

Universities Forum Helper

22

Original post by AB Kadir

Thank you so much for your response.

I have already picked straight up economics degrees at KCL and QMUL, however I was wondering which of the two degrees to pick to fill up the remaining gaps.

I couldn’t decide between econ and finance at QM or econ and management at KCL. Before reading this I was slightly leaning towards econ and management at KCL due to its name and because of the courses role in a business.

As of reading this I think I now have more of a 50/50 stance. I might just hold out a bit and do more in depth research.

But once again I really appreciate your time in writing back to me

I have forgotten to mention though that if you intend to do a PhD in either finance or management, you would need a degree in it. From what I have seen, you can usually get into a management PhD program with just an undergrad in management, but with finance you're more likely leaning towards a master's (do check the entry requirements for specific PhD programs in finance though).

Do note: you can do a master's in finance (or joint degree in finance) with an undergrad in economics. You can also do a master's in management with an undergrad in any subject, but you can't do the master's if you already did an undergrad in a management related subject (e.g. economics and management).

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