Social Sciences Studies

Economics and International Management are related in various ways, as they both deal with the study of economic systems and business activities with sometimes overlapping scopes and perspectives. A few examples on the topics I find most relevant:

Global Perspective: International Management focuses on the management of businesses and organizations that operate in a global context. It considers the challenges and opportunities of conducting business across borders, dealing with different cultures, legal systems, and economic environments. Economics, on the other hand, provides the theoretical and analytical framework to understand the global economy, international trade, foreign exchange rates, and the interactions between different countries' economic policies.

Trade and Finance: International trade is a significant aspect of both disciplines. Economics explores the theories of international trade, such as comparative advantage, and analyzes trade patterns and policies. International Management deals with the practical aspects of conducting international trade, including export-import processes, trade regulations, and managing cross-border transactions. Additionally, both fields study international finance, including foreign direct investment, capital flows, and currency exchange rates.

Macroeconomic Environment: For businesses operating internationally, understanding the macroeconomic environment of various countries is vital. Economic indicators such as inflation rates, GDP growth, and unemployment rates impact business operations and decision-making. International Management professionals need to incorporate economic insights into their strategic planning.

Hi there,

I would be happy to share my thoughts on your question:

• First of all, economics and management, while distinct fields, have areas of overlap and are intrinsically related. This is primarily because they both deal with business topics, although they do so from different angles. While this might be a highly simplified differentiation, economics focuses on macro-economic business topics (i.e., of countries, regions, or the global economy as a whole), while management focuses on micro-economic business topics (i.e., of singular companies).
• Moreover, international management involves applying management principles in a global context. This involves understanding and dealing with diverse business cultures, trade laws, and economic practices across different countries.
• Lastly, please feel free to provide some context to your question, so that I can provide a more focused answer.

If you would like a more detailed discussion on the topic, please don't hesitate to contact me directly.

Best,

Hagen

Hi there, 

Economics is the underlying structure of Management. 

My recommendation would be to try and chat with people who have studied both fields. 

You can use this guide to trigger the conversations:

• Free Guide: How To Handle Networking Calls and Get Referrals

Best,
Cristian

Hi there, 

While Pedro already gave a nice general overview, would be useful if could you share a bit more about the context and intent of the question. Will be able to advise more specifically then.

Thanks, Andi

Hi there,

Pedro gave a great answer here.

Please also remember that with wide-sweeping questions like these you won't be able to get a full answer from written text. Rather, you learn so much more by speaking to someone.

Are you asking in terms of your university major? A career choice? What type of books to read? Lots more context and discussion needed here!