A Level Economics vs Business

Are you torn between Economics and Business for your A levels? Both sound similar. After all, they're about money and how the world works, right? In reality, they're quite different, and you can even take both for a great A Level combination.

Both subjects will help you develop excellent skills that are rated highly by universities and could provide the perfect stepping stone for a rewarding career. Whether you’re considering taking one or both, our comprehensive guide will delve into A Level Economic vs Business and clear up any course confusion.

Key Takeaways

• Economics focuses on how the entire economy works and focuses on big picture topics like inflation, unemployment, and global trade.

• Business is all about how individual companies operate - marketing, finance, leadership, and making smart decisions.

• Economics requires more essay writing and data analysis, whilst Business uses real-world case studies.

• Both subjects open doors to brilliant careers, but Economics is often seen as more "academic" by elite universities.

What Does A Level Economics Involve?

The structure of A Level Economics is clear, splitting into two main areas that work together like pieces of a puzzle.

Microeconomics looks at individual markets and businesses. Here, you’ll study how supply and demand work, why prices change, and how companies make decisions about what to produce.

Macroeconomics zooms out to examine entire economies. This covers big topics like inflation, unemployment rates, government spending, and international trade.

The key topics you'll tackle throughout the two-year course include: 

• Understanding market failures

• Analysing government policies

• Exploring globalisation effects

• Examining economic growth patterns

But it’s not all about gaining knowledge. You’ll also develop some exceptional academic skills such as:

• Interpreting graphs and statistics

• Writing analytical essays

• Developing critical thinking about economic theories and their real-world applications

What Does A Level Business Involve?

Like Economics, A Level Business is also a highly structured course. It covers five core areas that show you how successful companies actually work.

You'll dive into: 

• Marketing (how businesses attract customers)

• Finance (managing money and investments)

• Operations (making products efficiently)

• Human resources (managing people)

• Strategy (long-term planning)

Within these five core areas, you’ll study key topics including: 

• Business growth strategies

• Different leadership styles

• Analysing financial statements

• Exploring how companies make crucial decisions under pressure

There’s a lot of emphasis on applying business theories to real situations, solving practical problems companies face, and analysing detailed case studies of actual businesses.

A Level Economics vs Business: Key Differences

While both Economics and Business are concerned with business operations within an economic framework, there is one major difference. 

Economics is theoretical and analytical: you're studying how entire economies function. Business is applied and practical: you're focusing on how individual organisations succeed.

There are also differences in how each subject is studied. Economics requires stronger essay-writing skills and involves lots of data interpretation. You'll spend time analysing economic models and theories. And, Business involves studying real-life case studies and making decisions like an actual business manager. It's more hands-on and practical.

Here's how A Level Economics and Business compare side-by-side:

Which Subject Is Harder?

This is really tricky to answer because it all depends on your strengths and interests.

Economics has a reputation for being more challenging because it involves abstract theories and complex essay writing. These are aspects of learning you may not have encountered before, possibly making them difficult in the first instance. You need to think critically about economic concepts and explain them clearly in written form.

Business concepts are generally more straightforward to understand because they're based on real-world situations, and you may have encountered this sort of learning before. However, you still need to apply knowledge effectively and use plenty of examples.

If you enjoy writing analytical essays and working with data, Economics might feel more natural. However, if you prefer practical problem-solving and learning through real examples, Business could be a better fit.

How Do Universities View A Level Economics vs Business?

This is probably the biggest question on your mind if you're thinking about university applications, and the answer might surprise you.

Economics is often seen as more "academic" by top universities. It's highly valued for competitive degrees like Philosophy, Politics and Economics (PPE), International Relations, and Economics itself. 

For example, if you’re tempted to apply to the University of Cambridge to study Economics (opens in a new tab) at undergraduate level, 93% of students awarded a place on the course in 2018, 2019, and 2023 had studied Economics at A Level. There is no data available on students who took A Level Business.

Business is absolutely respected, but it might not carry the same academic weight for the most competitive university courses at the top universities. Some universities, like LSE and Oxford, prefer traditional subjects for their prestige courses.

However, if Oxbridge and equivalent universities aren't on your radar, both subjects are fantastic preparation for careers in management, finance, consultancy, and entrepreneurship. The key is matching your choice to your specific university and career goals.

Which Subject Is Right for You?

Choose Economics if you:

• Love following current affairs and political developments

• Enjoy analysing how government decisions affect everyone

• Are fascinated by global issues like climate change economics or international trade

• Prefer writing detailed essays and working with statistics

Choose Business if you:

• Are curious about how your favourite companies became successful

• Enjoy learning through real examples and case studies

• Like the idea of running your own business one day

• Prefer practical application over abstract theory

Think about your natural strengths, too. If you're brilliant at essay writing and love debating big ideas, Economics could be spot on. If you prefer solving practical problems and learning from real situations, Business might be your calling.

Can You Study Both A Levels Together?

Yes, absolutely! These subjects actually complement each other brilliantly.

There's some overlap in areas like market structures, business finance, and economic factors affecting companies. This means studying both can reinforce your understanding of key concepts.

The skills you develop are complementary too. Economics enhances your analytical and essay-writing abilities, whilst Business develops your practical problem-solving skills. This combination is especially worthwhile if you're considering university courses in Business Economics, Management, or International Business.

Frequently Asked Questions

Is A Level Economics harder than Business?

Economics is generally considered more challenging due to its abstract theories and essay-heavy assessment style. And, Business is considered more accessible because it uses real-world examples, but both require dedication to achieve top grades.

Can I switch from one to the other?

Switching is possible, but gets harder as courses progress. The earlier you switch, the easier it'll be to catch up. Speak to your teachers immediately if you're considering a change.

Which subject has more maths content?

Economics involves more mathematical content, including interpreting graphs, calculating elasticity, and analysing statistical data. However, don’t assume you need to be a mathematical genius to access the Economics course - you don’t at all. If you got a solid grade at GCSE, you should be able to handle the maths content in A Level Economics.

On the other hand, Business uses basic maths for financial calculations and ratio analysis, but it's generally lighter on numbers.

Which A Levels go well with Economics or Business?

With Economics: Mathematics, Politics, History, Geography, and English Literature create strong A Level combinations. If you’re exploring Oxbridge or other elite universities, Further Maths is also worth considering.

With Business: Mathematics, Psychology, Geography, and Modern Languages complement Business studies well.

And, both subjects pair excellently with each other for students interested in business and economics pathways.

Making the Right Choice for You

When it comes to A Level Economics vs Business, there’s no clear winner. Both are brilliant subjects that can open doors to exciting career paths. The key is choosing the one that genuinely interests you and matches your future goals.

Remember, there's no "wrong" choice here. It’s all about working out the right choice for you. Think about what makes you curious, what career path excites you, and where you see yourself in the future.

Keen to get a proper feel for what each subject involves? Check out Save My Exams revision notes for both A level Economics and A Level Business. These resources will give you a brilliant taste of the actual course content, helping you see which subject truly sparks your interest.

References

University of Cambridge - Economics, BA (Hons) Entry Requirements (opens in a new tab)