Business administration, economics and law
Business administration and economics is about studying markets, resources and economic interrelationships as a basis for business activity and economic policy decision-making. The study of law is aimed at understanding complex legal systems as a prerequisite for maintaining justice, order and societal cohesion.
What is it all about?
Business administration and economics is about analyzing economic interrelationships, markets and entrepreneurial activity, while law is concerned with the structures, norms and institutions comprising legal frameworks. Students of business administration and economics study economic phenomena at the individual business and the macroeconomic levels, including finance considerations, market behavior and economic policy. The study of law deals with the interpretation, application and ongoing changing of laws. These disciplines have in common that they impart analytical thinking, decision-making and legal argumentation skills. The aim is to prepare students for responsible positions in business, administration and the judiciary where they can contribute to a just, sustainable and better-functioning society.
What would the world be like without…
...business administration, economics and law?
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Without business administration, economics and law there would be no orderly markets and no stable economic systems; business ethics would be unknown. Without business administration and economics, trade relations would be inefficient and financial markets unstable.
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Our understanding regarding the production, consumption and distribution of resources would be undeveloped, likely exacerbating poverty and inequality. If no one studied law there would be chaos due to unclarity over contracts, rights and the rules of our society. A lack of legal clarity fuels uncertainty and undermines trust in social and economic structures that have to be ensconced in law.
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In short, without this field of study, there could be little prosperity, justice or societal order.
What relevant occupations and career paths are there?
Public prosecutor
NGO employee
Lobbyist
Banker
Notary
- Management
- Management consulting
- Financial accounting
- Tax accounting
- Controlling
- Finance
- Marketing and sales
- Human resources
- Logistics and supply chain management
- Banking and insurance
- Real estate industry
- Public service
- Court justice (judge, public prosecutor)
- Legal counseling
- Contract management
- Compliance and risk management
- Business mediation
- International commercial law
- Tax law
- Labor law
- IT and data privacy law
- Notary services
- Patent law
- Forensic economics
- Association law
- NGOs and international organizations
- Company formation, start-ups
What skills will I need? What are the prerequisites?
Analytical thinking ability
Successful study of business administration, economics and/or law requires analytical thinking ability, being good with numbers and being able to grasp legal matters.
Solid knowledge of economics and finance
A good understanding of business, finance and the underlying legal bases is key.
Mathematical knowledge and interest in society
Depending on the field and degree of specialization, knowledge of mathematics, statistics and economics are necessary as well as an interest in society and politics.
Precision analytical ability
An ability to analyze complex problems with precision and identify interrelationships is essential.
Strong communication skills
Communication and negotiation skills are crucial, particularly in regard to the practical application of legal and economic concepts.
Organizational ability
Teamwork and organizational skills are additionally necessary and a willingness to continuously learn by following the latest developments in law and/or the business world.
Where would I be studying?
Contact
Central Study Advisory and Counseling Service
The Central Study Advisory and Counseling Service (ZSB) is the first point of contact at the University of Bonn for all questions relating to studying.
Further information
Study Orientation and Getting to Know the University of Bonn
The University of Bonn offers diverse opportunities for school students of various ages to get to know the University. Our programs cover the full range from children’s university and science races to university-preparatory events. We offer academic guidance and support to upper-level high school students and other prospective students, for instance by helping them to review their individual readiness for university and by providing insights into the realities of university study. Workshops, information events and one-on-one counseling sessions give prospective students the opportunity to reflect on issues related to what lies ahead in terms of university and career choices.