Economist or Manager?
Training as the one or the other, in fact, only differs at Master level. Although economics and management are quite complementary disciplines, the tools used by economists and managers are significantly different. The outlets of the two study orientations remain similar and generally speaking aim to contribute to the development of the company and of society. Indeed both disciplines share a concern to understand how a company, the market(s), the State and the economic system as a whole operate.
The two fields, however, have their own specificities:
- In management, the study of legal, societal and human aspects gets priority attention. The manager focuses primarily on the main functions of the company, such as corporate finance, human resources management, marketing, law, entrepreneurship, etc.
- The economist, on the other hand, studies the functioning of markets and the effects of the political, competitive, financial, technological and demographic environment - on companies, employees, consumers, etc. - within the economic system. Economists have a decision-making, analytical or advisory role which enables companies and governments to adopt appropriate policies. An economist will seek a position as an analyst or executive in a company, bank, consulting firm, study centre, high administration, trade union, public interest organization, European or international institution, ministerial office, NGO, etc.
Management studies or Business Engineering?
When a student starts his/her studies at HEC Liège, they will have to make a choice between a bachelor in Economics and Management and a bachelor in Business Engineering.
Many courses are identical in the two streams. However, Business Engineering offers
- more quantitative methods
- a strong emphasis on analytical reasoning
- IT holds an important place
- the fundamentals of science and the interactions between industrial science/ technique/ innovation: these translate into science courses (chemistry, physics, etc.), particularly in the first year or two of the program
- a significant technological element.