Business and economics studies are two of the most popular and universal fields of study. By popular, it means that these two majors are offered in almost every higher institution around the world. By universal, it means that the outcomes of these two majors can be applied anywhere in the world.
In addition to the wide range of options of places to study these majors, many higher institutions around the world offer various scholarships to undergraduate and graduate business and economics students to study abroad. If you are one who are interested in these majors and are seeking for a scholarship to assist in funding for your studies, you are very lucky to have come to this page!
Below you are provided with an overview of what business and economics majors are and also with a list of various scholarships to support your studies abroad.
Business vs. Economics
Many students talk about business as their interest for their careers and most of them immediately assume that a business degree is the perfect choice to go for. For some people, a business degree might just be the appropriate academic path. For others, it is important to explore a major that sparks his/her intellectual curiosity and will prepare the student for a career in the business world without committing specifically to one area of study just yet.
Often students have been confused with choosing between an economics and a business degree. This is due to the lack of understanding what each of these fields of studies can entail. Here, we wanted to outline both areas of study to give you a better understanding of what each field has to offer a prospective college student.
Business majors varies in a wide range of programs, including accounting, finance, operations, marketing, communications, information systems and sports management to name a few. Business majors study the buying, selling, and producing activities of goods, as well as business organization and accounting. They learn how to use the basic principles and techniques of business in a variety of workplaces.
Within the programs of study at various schools, you can choose from a wide range of areas to focus your interests. Entrepreneurial studies, hospitality studies, hotel management, international finance, fashion merchandising and real estate management are some of the more focused degrees business students can pursue.
The good thing about a business studies qualification is that it can open you up to many entry-level roles upon graduation, while still allowing you, if you wish to specialize further, the chance to improve your return on investment with a graduate degree. Examples of postgraduate programs include Master’s in Management, Master’s in Finance and, for those who’ve gained professional experience, the Master’s in Business Administration (MBA).
As a business degree graduate, you can work as the following:
- Advertising, promotions and marketing managers
- Business reporter
- Business teacher
- College admissions representative
- Corporate attorney
- Financial analyst
- Financial manager
- Healthcare administrator
- Human resources (HR) specialist
- Management analyst
- Management consultant
- Sales managers
Economics is the practical and theoretical science of the production and distribution of wealth. It is based around the system of the production, buying and selling of goods and services. Although there are various subdivisions of economics, the two main areas of study are microeconomics and macroeconomics.
Microeconomics is the study of the dynamics between individuals and industries – a more concentrated study of the broader discipline of macroeconomics, which is the study of the economic activity of an entire market or country.
According to the US Department of Labor and the Bureau of Labor Statistics, economists conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services.
Economics majors study economic models and theories to analyze how business activities can be complicated by factors such as taxes, interest rates, inflation, labor disagreements, and even the weather. Many issues of national and international policy are considered. Economics majors learn about economic theory, economic systems (such as capitalism), and mathematical methods.
The possible careers for economics graduates are:
- Business reporter
- Compensation and benefits manager
- Credit analyst
- Economic consultant
- Environmental economist
- Financial analyst / examiner / manager
- Foreign service economic officer
- Healthcare analytics specialist
- Management consultant
- Market research analyst
- National security program manager
- Operations research analyst
- Personal financial advisor
- Policy analyst
- Portfolio manager
- Supply chain analyst
Scholarships for Business and Economics Students
Now that you have learned the differences between business and economics majors, you can now choose which degree to pursue according to your needs and interests. Here are some of the many business and economics scholarships 2019:
- ESSEC Business School BBA Scholarships: Various scholarships for international students studying the Global BBA (Bachelor of Business Administration) program at ESSEC Business School’s branch campuses in Singapore or France, including the Academic Excellence Scholarship.
- Jane M. Klausman Women in Business Scholarship: Scholarships for women in business to gain funding for university. open internationally for study in any ZONTA-club country.
- P. Jain School of Global Management Academic & Leadership Scholarships: Scholarships for both bachelor and master’s programs at the business school’s campuses in India, Singapore, Sydney and Dubai.
- CBS Innovation International Scholarship: Merit-based scholarships for undergraduate international students to study business information systems / technology at Curtin University’s Curtin Business School.
- Global Leaders Scholarships at the University of Queensland: Undergraduate and graduate scholarships for international students from selected countries in Asia and Europe to study at the University of Queensland in Australia within the faculty of business, economics and law (excluding the MBA). Follow these links for European, Malaysian, Taiwanese, Singaporean and Hong Kong
- International Business Masters Scholarships: Merit-based scholarships fro international students studying a business-related master’s degree at the University of Auckland’s business school in New Zealand.
- SBE International School Scholarship at Maastricht University: Undergraduate scholarships for non-EU/EEA students to study a bachelor’s program in business or economics at Maastricht University in the Netherlands.
- Barcelona GSE Tuition Waivers and Scholarships: Merit-based scholarships and tuition waivers for international students at the Barcelona Graduate School of Economics in Spain. Eligible programs include the nine-month master’s degree in economics, finance and data science.
- Business Excellence Scholarships at Newcastle University: Business school scholarships for students accepted to a business school master’s program at Newcastle University in the UK. No separate application required.
- Business School International MSc Scholarships: Master’s degree business scholarships for students at the University of Hull’s business school in the UK.
- Exeter World Class Business Student Scholarship at Exeter University: Graduate scholarships for business students studying a selected master’s program at Exeter University.
- Graduate Business School Scholarships at the University of Aberdeen: Various merit-based scholarships to study a graduate-level program at the University of Aberdeen’s business school. Open to UK and international students.
- Business School Undergraduate Scholarships at the University of Leeds: Various scholarships for students of all nationalities to study business at the University of Leeds. They also offer a range of master’s scholarships.
- Scholarships at Cass Business School: Various scholarships for international students to study at City University London’s Cass Business School on an undergraduate program.
- The Henley Business School Academic Excellence Scholarship: International business school scholarships for all undergraduate programs at the University of Reading’s Henley Business School.
- Undergraduate Scholarships at Manchester Business School: Various undergraduate scholarships for UK and international students to study at Manchester Business School. Emphasis on social responsibility.
- Warwick Business School Scholarships: Master’s scholarships open to students at Warwick Business School on a wide range of FAME (finance, accounting, management, or economics) subjects, including finance and international business.
- BBA Entrance Scholarships at HEC Montreal: Merit-based scholarships for international students to study a Bachelor of Business Administration program at HEC Montreal. No separate application is required.
- ACFE Ritchie-Jennings Memorial Scholarship Program: Scholarships for international students to study in the US on a degree related to the study of fraud. Accepted subjects include business administration, accounting, finance, and criminal justice.
- College of Business Study Abroad Scholarship at Iowa State University: Scholarships for business majors to fund their funds at Iowa State University in the US. Open to undergraduate and graduate students.
- FWSF Scholarships: US scholarships for female students studying finance in the San Francisco Bay Area at undergraduate level.
- GE / LNESC Scholarship: Scholarships for minority students to study in the US at undergraduate level on a business or engineering program. Funded by GE.
- Mark Beaumont Scholarship Fund: US scholarships for students interested in pursuing careers in interactive entertainment (e.g. video game development). Possible subjects of study include business, leadership, law, marketing, and public relations.
- Recognizing Exceptional Students Leaders: Scholarships for business majors with leadership skills in the US to gain partial funding for their studies. Computer science and mathematics majors are also eligible.
- Rapid Formations Entrepreneur Scholarship Program: Entrepreneur scholarships for students currently enrolled in a US or UK higher education institution, who show academic excellence / entrepreneurial potential.
- Grasshopper Entrepreneur Scholarship: Undergraduate and graduate scholarships for student entrepreneurs in the US.
- Greenpal Business Scholarship: Business and entrepreneurship scholarships for business majors in the US to gain funding for a business venture. Students must be studying business, economics, or finance.
- NFIB Young Entrepreneur Awards: US scholarships for young entrepreneurs studying at undergraduate level.
- Social Entrepreneurship Scholarships at NYU: Undergraduate scholarships for budding social entrepreneurs wishing to study in the US at New York University (NYU) on a related program.