Marc Ervin A.

Ison
BSTM 2-C
Ma'am Vanessa Pena
THC 7

Asynchronous Reaction Paper

The lecture discussed the differences between business education and global business. Global
business is a small field of Global Studies that includes politics, international law, and cultural
anthropology. The foundation of business is the two areas of quantitative methods and
economics. Quantitative methods involve math and economics, while economics involves
microeconomics and macroeconomics. Microeconomics concerns the behavior of individuals,
the behavior of consumers, and the behaviors of families. Macroeconomics is concerned about
exports and imports, employment and wages, interest rates, and business profitability.

Business is divided into four main fields: accounting, finance, marketing and management.
Accounting is divided into two major sub areas: financial accounting and managerial
accounting. Financial accounting is the subject of managing money, while managerial
accounting is accounting designed to serve the needs of management. Financial management is
how to manage assets, liabilities, and investments. Intermediate financial accounting is how to
determine costs and all the other tricks related to the cost inside the business. Contract law is
how to make and manage contracts. Business study is competitive and there are more than 100
business programs in general.