Should I take economics or business and management ?

[PN08]

Hey ! So I'm in 10th grade and I need to choose another subject from group 3 to replace art because I hate it. My decisions would go to Economics or Business And Management, but the problem is I can't choose. I'm in the co-curricular Business class already but it is completely different because we are just running a school store we opened. My major role in the class is basically taking care of the money, because i'm experienced with that, so everything about finance of the store. I love it, but still i don't know what to choose, i love finance, marketing, management, everything related to profit marge. So can anyone help me please ?!

[naik38]

Business seems to suit you more, as in business you basically learn about how to run an effective business. Aspects like management theories, motivation theories and external factors that effect a business. There is also a topic on accounting which may interest you so i would recommend business.

Whilst economics is more about how producers and consumers and other stakeholders and how they work in-conjunction to create a market, that is in turn governed by various laws and other stakeholders. Economics is more about stakeholders such as government, foreign producers, exporters and importers and banks whilst business focuses on business and its efficiency and productivity.

Edited June 5, 2014 by naik38

[Arrowhead]

Where (which country/ies) do you want to apply for university? What do you (at least generally) think you will want to study after the IB?

In the UK, Business as a subject has a stigma attached to it of being 'softer' and Economics is preferred over it. This is not because IB Business is a soft subject but mostly because the A-Level equivalent course has a terrible reputation and that inevitably maligns the IB course, unfortunately. So I would suggest you take Economics over Business if you ultimately want to apply to top unis in the UK.