Excluding audio from another application when recording?

Basically pretty simple here,
Want to record Battlefield 3, but I'm also Skype chatting with my teammates when I record, and capturing the audio of one guy mashing on his mechanical keyboard does not do a video any good. Is there anyway to simply exclude Skype from being captured too?


Sorry for asking a question that I imagine has been asked a multitude of times, but I didn't see anything about it.

 

Unless you assign skype a seperate audio devices (onboard, soundcard, USB headphones, etc...) all of that audio is going to to a single device and you're going to record it all.