Online MBA vs. Masters in Economics

Both an economist and business administrator are necessary aspects of a well-prepared business team. However, their roles are very unique in what they intend to accomplish. An economist by definition is an individual who is concerned with the production and distribution of a business’ products or goods. In comparison, the business administrator is someone who ensures that the overall objective of a business is being met. Both roles are crucial to the successful running of a large business! With such high levels of importance, it is often difficult to decide on what a student ought to major in. It is important to closely examine the differences before committing to a long-term period of study.

Masters in Economics Compared to an Online MBA

Much like the individuals who are primarily focused on finances and accountancy, economists are closely involved with the facts and figures surrounding distribution and production. This job can be perceived as being slightly repetitive due to the almost invariable nature of what is required. However, sudden economic downturns or a quick change in marketing strategy can provide additional excitement for an economist to study on behalf of a business. It is easy to see how the job can become commonplace with core components primarily focusing on statistics, mathematics, and both micro and macro economics. However, routine and structure could be seen as appealing to some prospective candidates, so should not be ruled on based on that idea alone.

A business administrator by comparison is someone who is much more closely involved with where the distribution of goods ought to be positioned in the marketplace. In this role, the administrator is likely to be more creative in his thought and could conceive interesting marketing strategies for the economist’s observation as the strategies are implemented. Both roles can end up being very interesting!

Should I Study Towards an Online MBA or a Masters in Economics Degree?

Those involved primarily with economics may prefer a more structured environment with very little change. This is because the very nature of the job is static and involves considerable amounts of repetition based on accumulated statistics and figures. Those involved with business administrator are more likely to enjoy considerable amounts of change and allowances for creativity to pitch new ideas for the overall success of a business.

It is difficult to say what might be appropriate for a major. There are noticeable personality differences when comparing an economist and a business administrator. The independent and quiet nature of an economist’s role may be more appealing to independent workers who require little to no supervision. The opposite could be said for a business administrator. The administrator is more likely to prefer social contact with others during routine affairs during the working day and may enjoy frequently working in a team setting, which isn’t always applicable to the economist.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!