Momentazeus
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Can someone please tell me what economics is about and how it differs to business studies?
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- Thread starter Momentazeus
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What do you want to know? There’s varying degrees of information.
Momentazeus
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What do you study in it? What differences does it have to business studies?
thetestdude
Dude
In preliminary economics, you study things like financial and labour markets.
HSC economics explores topics like the global economy and Australia's place in it, as well as economic issues.
In preliminary business studies, you study things like the nature of business as well as management.
HSC business studies explores 4 key business functions: finance, marketing, operations and HRM.
I can't think of many similarities between the 2 subjects, but in the business HSC course the finance chapter includes content that might also be taught in economics (such as exchange rates and economic outlook).
Business studies is a fairly simple subject but there's a quite a lot of writing. If you have an interest in business and are willing to study for it, getting good marks won't be hard.
I don't know much about how hard economics is unfortunately because I haven't done it.
HSC economics explores topics like the global economy and Australia's place in it, as well as economic issues.
In preliminary business studies, you study things like the nature of business as well as management.
HSC business studies explores 4 key business functions: finance, marketing, operations and HRM.
I can't think of many similarities between the 2 subjects, but in the business HSC course the finance chapter includes content that might also be taught in economics (such as exchange rates and economic outlook).
Business studies is a fairly simple subject but there's a quite a lot of writing. If you have an interest in business and are willing to study for it, getting good marks won't be hard.
I don't know much about how hard economics is unfortunately because I haven't done it.
vinlatte
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Economics is content heavy and is considered more difficult than Business Studies due to scaling. It's almost comparable to first year uni economics, but I'm not too sure.
Both subjects can have overlapping content. In Business, economic cycle is an external influence on customers as the state of the economy determines their disposable income. In Economics, microeconomic policies focus on industries such as agricultural, manufacturing etc.
Economics deal with theory and concepts. You learn about the sectors of the economy and how money flows and determines economic growth. There's a topic on the global economy which deals with case studies of economies other than Australia. As well as topics of economic issues and policies to evaluate Australian economic policies and their effect on the economy.