Urrr, not too sure how it's done at UofT, but at western there is definetly a big difference between the two!!
Biochemistry - which is hate :/ is focused more on looking at the chemistry of biology, if that wasn't already self-explanatory LOL. But it involves orgo (at least at western) and for example: you would look indepth at the making of protiens, from the amino acid process and examine the chemistry involved, on a basic level the peptide and disulfide bods.
Molecular Cell Bio - which I enjoyed a lot, involves processes that go on within a cell, e.g. protien trafficking and its antereograde trasport from the RER to the cis/medial/and trans Golgi.
I think the two examples above show VERY DIFFERENT levels of thinking and ideas. Their titles seems self explanatory, but utlimately you're going to have to research is a bit on your own (maybe talk to previous students who have taken the course, or even reach out to the profs?)
good luck!
and sorry, I'm not too familiar with the jobs each one entails, but I would think extra schooling is needed after this if you are to follow into a stream, and it IS important which one you pick.
The University of Western
Biological and Medical Science [BMSc] 2014