Business Studies involves some or all aspects of operating a profitable business. That involves managing payroll, managing assets, purchasing, deriving a profit. It involves Accounting as a principal subpart. Accounts payable and accounts receivable management. Credit and loan procedures and business banking too. Also human resources management, often a focused specialty of a business degree.
Economics is divided into micro economics which involves study of small businesses and corporations from the economics perspective. So courses in this area are helpful to business majors just as courses in business are helpful to economics majors.
Economics is also divided into macro economics which concerns all businesses and corporations in the aggregate, the functions of all banking and the functions of government and all banking in relation to business.
Macro economists may work for very large corporations, for government or for banks. They also work for private research foundations concerned with macro economics, trends, the functions of industrial or business sectors (oil and gas, energy, services, manufacturing, banking, whatever).
It is very easy to get a degree in business. Economics will call for greater intellect and more math ability.
But there are smart people in both, even super-talented people with respect to math.
Most economists know lots about business, most businessmen know some about economics.
A high business degree would be M.A. from Wharton or from some prestigious university. Also a CPA, certified public accountant degree. There are other degrees too, involving asset management and financial planning. Different terms in different nations describe the same profession, so Canada will have some other acronym for CPA, most likely.
You can think of business as vast, like an army. There will be various ranks based not only on education, but also on experience. Privates through Generals. CEO and CFO are generals. Managing Directors are Brigadiers and Colonels.
An Accountant may be a private on up to Major. They work in groups in large businesses, many accountants under a CPA (Major) or a CFO General.
Some with a basic degree achieve high rank, but that is not easy in modern business world without a graduate degree: M.A. in Business, CPA, even sometimes a law degree where the lawyer does business work involving contracts, business law.
Business Law basics are in a book called the Uniform Commerical Code -- bills, shipping practices, legal requirements that have evolved into standard practices, how liabilities work. You MUST familiarize yourself with that for ANY business degree that involves marketing and sales.
Economics is a heady pursuit that calls for BRAIN POWER and much more MATH ABILITY. Warning: Getting a degree in this area means you will be talking, thinking, learning and discussing, and solving problems about MONEY $$$ all day long, month in and month out, never changing. It will always be about MONEY, government money, bank money, private money.
When I was young I saw a classified ad for ECONOMIST at a high salary and thought maybe that might be the things for me to do.
Two small college courses convinced me how WRONG I was. I can not STAND talking about money ad infinitum.
Learning about TAXES is part of both Business and Economcis, but Tax Policy lies mainly with the latter.
I like VARIETY and solving DIFFERENT PROBLEMS at different times.
I turned into a Scientist.
For sure, that is me...check it out in my answers, blog or wherever.
God made us all different. You will not know what you are until you start digging into things.
Maybe you are an artist, a magician, a musician, or an architect. Maybe you are a linguist.
Whichever, whatever, you will not find out until you WORK at various things.
When you find out which is where your talents lie, then you must WORK HARD -- I like the word STEADILY even better -- one step at a time one goes a long way.
Every big project is divided into easy, simpler steps.
Now, that is true for EVERYONE, science, business, art, music, whatever.
Wisdom is finding YOUR WEAK areas in your specialty and correcting those. Does not sound exciting, but this is the MOST VALUABLE thing I have said here.
You will go VERY FAR and VERY HIGH if you remember this last advice.
I hope this helps. I did lots of work in all areas getting to where I now stand.
But science and religion are my specialties.
And any specialty of knowledge can produce wisdom.
And people of wisdom find it the same, even in different walks of life.
Knowledge is good at a particular time and pllace -- how to fix a diesel engine for example.
Wisdom is good for all time and eternity. An example would be virtually any of Jesus' words in the bible.
But you can find gems of wisdom of your own, and also from other nations and men.
I gave a Chinese one back there: Step by step one goes a long way.
Hurried answer, sorry, but all based on true experience, hope I have helped.