Economics is the study of how members and groups in society make choices. Those studying economics learn about corporations, markets and economic systems--local and global. In practical terms, after obtaining your degree in economics and finance, you should have a strong understanding of how income is determined, how government policies affect business decisions and how inflation works. Courses in economics include the study of fundamental economic principles, microeconomics, macroeconomics and international trade.
Finance is the study of financial markets. In your study of finance, you will learn about securities, portfolios, financial organizations and financial decision processes. Specifically, a background in finance will give you knowledge of investment options like bonds, stocks and options as well as knowledge of the financial institutions that offer these options. Finance courses will often include business finance, investments and corporate finance.
Econometrics is a special area of economics separate from economics as a whole. This area of economics is focused on the estimation of future economic values. It is mathematically heavy, but useful in that it allows people to make predictions in the real world of economics. Some courses in this area of the economics and finance degree are forecasting techniques, financial econometrics and applications of econometrics.
Though not mentioned in the name of the degree, the quantitative sciences are integral in economics and finance. Many advanced areas of economics and finance such as high-level econometrics and the stochastic modeling of stocks and options rely on mathematical and statistical concepts. Hence, in an economics and finance degree you will be required to take numerous math and statistics courses.