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. PSYCHOLOGY: - Psychology is the scientific study of people: how they think, act, react and interact. It is concerned with all aspects of behaviour (normal and abnormal) and the thoughts, feelings and motivations underlying such behaviour. Psychology at Glasgow is ranked 4th in the UK (Guardian University Guide 2017).