BUSINESS ECONOMICS: - Business economics is the study of economic concepts of relevance to modern business, to develop a sound understanding of the resource allocation issues facing the business corporation and the environment in which it operates. Economics at Glasgow dates back to Adam Smith, who was a Professor at the University in the 18th century and is widely renowned as the father of modern economics. ECONOMIC & SOCIAL HISTORY: - Economic and social history is the study of the way societies change in their economic activities and social organisation. It is concerned with how people in the past lived and worked, and how this has affected the development of today’s world. It is possible to do this degree together with a language, including a year abroad.