- Accounting
- Business Administration
- Economics
- International Business
- Accelerated MBA
- Courses
- Syllabi
- Major/Minor Declaration Form
Accounting Courses
- ACCT 101 Principles of Accounting I
- ACCT 102 Principles of Accounting II
- ACCT 210 Cost Accounting
- ACCT 310 Intermediate Accounting I
- ACCT 315 Intermediate Accounting II
- ACCT 320 Taxes I
- ACCT 325 Taxes II
- ACCT 420 Advanced Accounting
- ACCT 424 Accounting Information Systems
- ACCT 430 Auditing
- ACCT 450 Independent Study
- ACCT 455 Internship
Business Administration Courses
- BAD 240 Business Law
- BAD 335 Business Ethics
- BAD 345 Management
- BAD 350 Managerial Finance
- BAD 351 International Marketing
- BAD 365 Applied Research Methods
- BAD 370 Investments
- BAD 375 International Finance
- BAD 380 Operations Management
- BAD 450 Independent Study
- BAD 455 Internship
- BAD 490 Business Policies
- BAD 491 Special Topics in Finance
- BAD 492 Special Topics in Management
- BAD 493 Special Topics in Marketing
- BAD 499 International Business Seminar
- Independent Research or Creative Investigation
Economics Courses
- ECON 190 Principles of Microeconomics
- ECON 191 Principles of Macroeconomics
- ECON 260 Statistics for Business and Economics
- ECON 299 Service Learning
- ECON 365 Applied Research Methods
- ECON 366 American Economic History
- ECON 367 Financial Markets and Institutions
- ECON 370 Intermediate Price Theory: Microeconomics
- ECON 371 Intermediate Income Theory: Macroeconomics
- ECON 376 International Economics
- ECON 450 Independent Study
- ECON 455 Internship
- ECON 462 History of Contemporary Economic Thought
- ECON 495 Special Topics in Economics
Accounting Courses (ACCT)
101 PRINCIPLES OF ACCOUNTING I (3)
Introduction to financial accounting concepts and problems with emphasis on the accounting
cycle; current assets; property, plant, and equipment; intangibles; and current liabilities.
Prerequisite: Completion of the Math Foundation requirement.
- Develop an understanding of accounting as the language of business and the role of accounting in making economic decisions.
- Develop an understanding of the significance of accounting systems in generating reliable accounting information.
- Develop an understanding for the usefulness of accounting information to internal and external parties.
- Develop an understanding of internal control procedures that create integrity in the reporting process.
- Develop an understanding of the accounting cycle and the accounting treatment of various components of the income statement and balance sheet.
- Develop an understanding of the importance of an accounting profession’s personal competence, professional judgment, and ethical behavior, and the role of various professional organizations that govern the preparation and communication of accounting information.
102 PRINCIPLES OF ACCOUNTING II (3)
Continuation of Accounting 101. Completion of the introduction into the area of financial
accounting. Introduction to managerial accounting concepts and problems. Prerequisite: Accounting
101
- Have a conceptual and mechanistic (construction of journal entries) understanding of the Owner’s Equity section of the Balance Sheet.
- Have a conceptual and mechanistic (construction of journal entries) understanding of the Long Term Debt section of the Balance Sheet.
- Have an understanding of the historical evolution of Cost Accounting to Managerial Accounting.
- Know detailed definitions of various types of costs and costing systems.
- Possess knowledge of cost accounting concepts and practices for a manufacturing entity.
- Understand the usage and application of various decision models or approaches (e.g. CVP Analysis, Activity Based Management, etc) to solving business problems.
- Have a detailed understanding of various budgets, and their uses in managing business enterprises through Standard Costing and Variance Analysis.
- Be knowledgeable about Responsibility Accounting and different approaches to performance evaluation of managers and their units.
210 COST ACCOUNTING (3)
Basic fundamentals in the area of cost. Use and measurement of accounting costs in managerial
decision making. Prerequisite: Accounting 102, Computer Information Systems 120, Economics 260
- Have an understanding of the historical evolution of Cost Accounting to Managerial Accounting and the effect of this shift on the relationship between management and managerial accountants.
- Know detailed definitions of various types of costs and costing systems.
- Have an understanding of the historical evolution of Cost Accounting to Managerial Accounting.
- Have detailed knowledge of cost accounting concepts and practices for a manufacturing entity.
- Possess an understanding of the theoretical underpinnings of various decision models or approaches (e.g., CVP Analysis, Differential Analysis, Activity Based Management, etc.) and their application to solving business problems.
- Have a detailed understanding of different budgeting philosophies, various budgets, and their uses in managing business enterprises through Standard Costing and Variance Analysis.
- Be knowledgeable about Responsibility Accounting and different approaches to performance evaluation of managers and their units.
310 INTERMEDIATE ACCOUNTING I (3)
A study of accounting principles as they relate to cash, receivables inventory, property,
plant and equipment, intangibles, current liabilities, long-term liabilities and stockholders'
equity. Prerequisite: Accounting 102, Computer Information Systems 120
- Develop an understanding of generally accepted accounting principles and its conceptual framework and an understanding of the application of the principles and framework to a variety of applications – particularly to current assets, plant assets, current liabilities, long-term liabilities, and owners’ equity.
- Identify situations where the time value of money is relevant and learn to apply present value concepts to those situations.
- Gain an appreciation of the differences between U.S. generally accepted accounting principles and the international reporting standards.
315 INTERMEDIATE ACCOUNTING II (3)
A continuation of the study of accounting principles begun in Accounting 310 as they relate
to earnings per share, investments, revenue recognition, income taxes, pensions, leases, accounting
changes, statement of cash flows, interim reporting and segmental reporting. Prerequisite:
Accounting 310
- Develop an understanding of generally accepted accounting principles and its conceptual framework and an understanding of the application of the principles and framework to a variety of applications – particularly to owners’ equity, earnings per share, revenue recognition, investments, income taxes, pensions, leases, accounting changes, the statement of cash flows, interim reporting, and segmental reporting.
- Develop an understanding of the difference between U.S. generally accepted accounting principles and the international financial reporting standards.
320 TAXES I (3)
A study of the basic provisions of federal income tax legislation as they relate to the
taxation of individuals. Topics include gross income, exclusions, deductions, exemptions, credits
and property transactions. Prerequisite: Accounting 101
- Develop an understanding for the rationale for tax laws by differentiating the types of tax bases and weighing the multiple objectives tax policymakers consider when developing tax law.
- Develop analytical reasoning tools to assess how taxes affect the economic decisions of individual taxpayers through the amount and timing of income recognition and deductions.
- Develop a fundamental understanding of the components of taxable income for compliance and planning purposes.
- Develop fundamental research and technological skills (including accessing and interpreting sources of authoritative support) necessary to undertake tax planning, compliance, and research strategies.
- Develop an ability to communicate tax conclusions and recommendations in a clear and concise manner.
- Develop an appreciation for the professional and ethical obligations of tax service providers. (adapted from AICPA Model Tax Curriculum)
325 TAXES II (3)
A study of the basic provisions of federal income tax legislation as they relate to the
formation, operations, and distributions of corporations and partnerships, to specially taxed
corporations, to the gift and estate tax, and to the taxation of estates and trusts. Prerequisite:
Accounting 320
- Develop an understanding of various deferral rules for gains and losses on certain property transactions.
- Develop an understanding of the tax treatment of capital gains and losses for individual and corporate taxpayers, including the treatment of Sec. 1231 gains and losses and various recapture provisions.
- Develop an understanding of the basic tax consequences of forming a new corporation and distributing dividend distributions to shareholders, and the rationale for various corporate penalty taxes.
- Develop an understanding of the tax consequences of forming, operating, and liquidating partnerships and S corporations.
- Develop an understanding of the general taxation principles governing estates and trusts and the mechanics of various federal transfer taxes.
420 ADVANCED ACCOUNTING (3)
A study of accounting principles as they relate to consolidations, foreign currency
translation, partnerships, state and local governments, and nonprofit organizations. Prerequisite:
Accounting 315.
- Develop an understanding of the effect of business combinations upon financial reporting.
- Acquire an awareness of the economic and financial reporting issues related to multinational operations.
- Have an understanding of the financial reporting issues related to partnerships.
- Gain an appreciation of the financial reporting differences between profit-run organizations and non-profit organizations.
424 ACCOUNTING INFORMATION SYSTEMS (3)
This course provides an in-depth study of the application of information systems knowledge to
the accounting environment and introduces students to the systems that underlie bookkeeping,
accounting, financial reporting, tax reporting and auditing in all business firms. Such systems are
increasingly complex and in a continual state of flux due to rapidly changing technologies and
security risks. Emphasis is upon developing students' abilities to understand the processing of
accounting data (with an emphasis on the computer environment) and the controls that are necessary
to assure accuracy and reliability of the data processed by the accounting system. Prerequisite:
Accounting 310
- Understand the nature of AIS and basic terminology.
- Review the accounting cycle.
- Recognize the importance of ethics in the context of the AICPA Code of Professional Conduct.
- Explore the various aspects of strong internal controls.
- Learn the AIS documentation techniques of flowcharting, data flow diagramming, and REAL modeling.
- Explore the importance of XBRL and examine how it is used.
- Understand the implications of e-business and the framework of ERP systems.
430 AUDITING (3)
A study of financial audits by public accountants and the resulting audit reports. Emphasis
on auditing standards and procedures, sampling techniques, professional ethics and the legal
environment. Prerequisite: Accounting 315.
- Understand the services provided by the accounting profession.
- Recognize the importance of auditor independence and ethical conduct.
- Understand the overall audit process.
- Know detailed definitions of various types of costs and costing systems.
- Know the ten general audit standards and recognize the importance of planning, internal controls, and audit evidence.
- Be able to use sampling techniques, including statistical sampling.
- Be familiar with the use of technology on an audit.
- Know the wording of the unqualified audit opinion and be able to identify when other types of opinions are necessary.
450 INDEPENDENT STUDY (1-8)
Open to juniors and seniors majoring in accounting.
455 INTERNSHIP (1-8)
Training in a business organization for a designated number of hours a week under the
supervision of a college faculty member and the manager of the business. Exposure to various
aspects of business, finance, and accounting. Open to junior and senior majors.
Business Administration Courses (BAD)
240 BUSINESS LAW (3)
Analysis of business and its relation to society and law; legal procedures for resolving
conflicts, contracts, agency, property, administrative law, criminal law, and torts; corporate law
and partnerships; negotiable instruments and secured transactions; bankruptcy; and estates.
- Be acquainted with the laws, regulations and court decisions that govern businesses.
- Understand the legal framework in which modern business managers operate.
- Be conversant with ethical and corporate governance issues.
- Have a basic understanding of legal terminology, principles and concepts of business law.
245 HUMAN RESOURCE MANAGEMENT (3)
Principles, theories, processes and practices relating to the management of personnel. Listed
also as Communication Arts and Sciences 306.
- Understand the main HRM functions and responsibilities (including performance appraisal systems, job analysis and design, recruitment and selection processes, career planning).
- Gain a broad applied and theoretical understanding of the central concepts of employee empowerment, goal-setting, and motivation.
- Understand the application and importance of compensation and benefits planning.
- Recognize the importance of training and development in maximizing employee potential.
- Understand basic employee rights and issues surrounding workplace safety.
- Understand the business case for workplace diversity.
- Appreciate the ways HRM can improve the triple bottom line (which includes corporations’ economic, social, and environmental responsibilities).
- Be familiar with major governmental employment regulations (e.g., workplace diversity) and HR’s role in monitoring a company’s compliance.
- Have increased familiarity with the strategic and global issues facing the HR profession.
250 MARKETING (3)
Introduction to the marketing concept, its historical development and its importance to
business, institutions, and consumers in contemporary society. Prerequisite: Economics 190
- State the definition of marketing and the relationship of marketing to the other areas of business including the areas of financial management, operations management, human resource management, and organizational structure and control.
- Explain the purpose of the marketing mix (product, price, promotion, and place/physical distribution) and evaluate its components through use of both domestic and global examples.
- Explain the relationship between the product life cycle and marketing strategy.
- Articulate both the rationale for and the variables used in branding, positioning, and market segmentation.
- Conduct a break-even analysis to determine a product's price.
- Explain the importance of including new forms of technology and communication (such as social media) into an integrated marketing plan.
- Explain the ethical principle(s) that make a marketing practice and/or event either ethical or unethical.
255 INTERNATIONAL BUSINESS (3)
Survey and analysis of economic, managerial, and financial aspects of United States' firms
operating abroad. Impact of United States and foreign government political, economic, and social
policies upon management of the multinational firm. Prerequisite: Economics 190, 191.
- Describe the role of the World Trade Organization, the International Monetary Fund and the World Bank in facilitating global business operations.
- Articulate the strengths and limitations of various country entry strategies including, but not necessarily limited to, FDI, M&A, franchising and direct and indirect exporting.
- Evaluate at least one host country in terms of the financial, cultural, political, legal and economic risks of doing business in that country.
- Describe both the rationale for and the challenges inherent in managing global supply chains.
- Explain the limitations of using cultural relativism as a basis for global business decision making.
- Explain the ethical principle(s) that make an international business practice or event either ethical or unethical.
275 ENTREPRENEURSHIP (3)
This course considers the problems and policies that are unique to a small business. The
course provides information on business startups, funding sources, issues related to growth, and
the role of the small business in the economy. Prerequisite: Accounting 101 is recommended
- Be able to operate in an atmosphere that fosters a rigorous analysis of the issues central to starting a successful business.
- Be aware of the macro-environment in which an entrepreneurial business must operate.
- Be able to define the key components of a business plan, to examine the costs versus the benefits of planning, and to discuss the importance of adapting to unexpected problems and opportunities.
- Understand the financial data necessary for an effective business plan.
- Identify and understand the advantages and disadvantages of the major legal forms of business and the relevance of ethics in entrepreneurial practice.
- Discuss the impact of the integration of capital, technology, and information across national borders.
335 BUSINESS ETHICS (3)
This course is a study of the social and ethical issues facing business. Approaches to
processes that foster ethical decision-making in today's complex global business environment are
examined from a managerial perspective. A variety of means, including case studies, are used to
examine such topics as corporate social responsibility, ethical corporate culture, employment
issues, working conditions, environmental impact issues, and codes of conduct. Prerequisites:
Junior standing or consent of instructor. Business Administration 345 is recommended.
- Identify the ethical components of business decisions.
- List all of the resources available for making ethical decisions in business.
- Explain what it means to use a methodology to resolve an ethical dilemma in business.
- Explain the basic philosophical and theological methodologies used in business ethics.
- Use the ethical methods taught in the course to critically examine and evaluate ethical dilemmas, issues and/or trends in business as presented in case studies and discussions of current events.
345 MANAGEMENT (3)
An examination of basic organizational theory. Various organizational models and methods of
reaching organizational goals are studied through analysis of current management practices.
Prerequisites: Economics 190, junior standing or consent of the instructor
- Understand and apply the major principles of management theory, history and practice.
- Recognize the nature and importance of organizational structure and culture.
- Explain the importance of social responsibility and managerial ethics.
- Recognize how mangers best achieve results; the importance of leadership, motivation, communication and interpersonal skills.
- Understand the principles of decision making, the impact of globalization and the process of organizational change.
350 MANAGERIAL FINANCE (3)
Examination of the functions of financial management. Topics covered include financial
analysis of operations, performance and profitability; financial planning using cash budgets and
pro forma statements; management of working capital; analysis of alternative short-term financing;
time value of money and capital budgeting techniques. Prerequisites: Accounting 101; Economics 260
is recommended
- Demonstrate the ability to analyze the financial health of a firm using financial statement analysis.
- Forecast a firm’s financial statements and value metrics, determining whether new capital should be raised.
- Utilize various techniques (e.g., CAPM) to recognize relationships between perceived risk and required return, and how that relationship is impacted by uncertainty.
- Analyze and calculate time value of money problems (e.g., loan amortization, annuities).
- Apply basic models for valuing stocks, bonds, corporate projects, and an entire firm.
- Measure the costs associated with financing firm investments and assess how those costs impact the value of firm assets.
351 INTERNATIONAL MARKETING (3)
This course is designed to acquaint the student with the complexities of marketing products
and services in international markets. Through lectures, discussions, and case studies, the course
will explore the elements of the marketing mix in an international marketing context. Topics will
include the importance of international marketing to American producers, appraisals of the
international marketing environment, and the recognition of cultural differences in various foreign
countries. Prerequisite: Business Administration 250, 255.
- Identify the relationships and distinctions among country channel structures as they influence marketing strategy.
- Illustrate how some elements (including segments and environmental factors) of the global market place are converging while others are not.
- Analyze the tradeoffs between developing globally standardized and locally adapted products.
- Discuss the importance of culture in determining country-specific and international strategic and tactical marketing mix decisions.
- Critically analyze and defend a position on at least one ethical dilemma in contemporary global marketing practice.
- Create effective global marketing strategies for products and services in both advanced and emerging market countries.
365 APPLIED RESEARCH METHODS (3)
A study of the application of statistical research to the definition and resolution of
financial marketing and economic business problems. The course will cover research design, sampling
theory, methods of data collection, the use of statistical techniques in the data analysis, and
introduce forecasting models. Listed also as Economics 365. Prerequisites: Economics 260 and
Computer Information Systems 120.
- Design a research study using either panel or times series data sets.
- Demonstrate understanding of the limitations of statistical analysis.
- Be able to apply statistical software for data analysis within a business setting.
- Be better able to select the appropriate statistical tool/methodology to aid in business decision making.
- Execute and interpret the results of simple, multiple and polynomial regressions.
- Execute and interpret the results of probit and logit regressions.
- Evaluate and make corrections for autocorrelation and multicollinearity.
- Be familiar with nonparametric testing and model transformations.
370 INVESTMENTS (3)
An advanced finance course examining investment theory, financial markets, and financial
instruments. The course will also discuss topics such as financial analysis, futures markets and
options. Prerequisites: Business Administration 350
- Distinguish the timeless themes of investing from the short-term trendy perspectives.
- Have an improved ability to manage a portfolio of investments, both personally and for clients in a professional setting.
- Execute a professional-quality financial analysis of an individual company and its stock.
- Identify the “big-picture” forces affecting the stock market and investments and understand the implications of these forces for future risk and return.
- Understand how to use options on common stock to manage risk and speculate on stock price movements.
- Apply course concepts and analytical techniques to current issues in finance.
- Interview more effectively for career positions in the fields of investment analysis, money management and financial planning, as well as other general finance positions.
375 INTERNATIONAL FINANCE (3)
The structure and operation of foreign exchange markets: spot, forward, futures and options;
factors determining spot and forward exchange rates. Measurement and management of foreign exchange
exposure risk. Financing international transactions. Working capital policies in an international
context. Operations of the international money and capital markets. Prerequisites: Economics 190,
191 and Business Administration 350.
- Demonstrate an understanding of the theories of international business and international business methods.
- Demonstrate an understanding of foreign exchange quotes in the spot, forward, futures and options markets and the operations of foreign exchange markets.
- Demonstrate an understanding of the forces determining short and long-term exchange rates and the factors causing exchange rates to change.
- Demonstrate the ability to explain the relationship between spot and forward rates using interest arbitrage.
- Demonstrate an understanding of the types of foreign exchange risk faced by a firm.
- Demonstrate the ability to propose alternative methods for hedging foreign exchange risk.
380 OPERATIONS MANAGEMENT (3)
Analysis of the role of operations management in manufacturing and service organizations.
Topics include production planning, master scheduling, inventory control, material requirements
planning, personnel planning, quality control, and just-in-time systems. Prerequisite: Economics
260
- Explain the strategic importance of operations management, the elements of operations strategy, and the basic principles of operations management;
- Demonstrate an understanding of the (transformation) process view of operations management – including inputs-outputs, flow units, resources, and networks of activities and buffers (inventory, capacity, time) – and the role of operations management within the broader organizational context.
- Apply demand management methodologies - including forecasting principles and capacity planning - to develop business, sales, and production plans;
- Apply Little's Law to understand relationship between Throughput, WIP, and Cycle Time.
- Understand the impact of variability and how to use statistical process control.
- Develop master schedules/plans to effectively and efficiently utilize the firm's resources in support of customers' requirements;
- Explain the role of inventory within the firm (and across the supply chain) and how to maximize its utility – including the concepts of economic order quantity, buffer stock(s), and safety inventory.
- Apply operations management concepts and tools within a service environment.
450 INDEPENDENT STUDY (1-8)
Open to juniors and seniors majoring in business administration.
455 INTERNSHIP (1-8)
Training in a business organization for a designated number of hours a week under the
supervision of a faculty member and the manager of the business. Exposure to various aspects of
business, finance, marketing or management. Prerequisite: Open to junior and senior majors
490 BUSINESS POLICIES (3)
An integrating course for business administration majors, presenting strategic planning and
problem solving strategies. This course builds upon the core subjects in the business
administration curriculum to improve students' management skills. The course includes a
comprehensive business administration examination. Prerequisites: Business Administration 250, 255
or ACCT 420, 345, and 350; Economics 260.
- Demonstrate the capacity to think strategically about an organization’s present position, long-term objectives/direction, resources and competitive abilities, and opportunities for future success – through an understanding of strategic management concepts, research, and theories.
- Develop an understanding of the integration and the interconnectedness of the various business functions and how collectively they impact the competitiveness of an organization.
- Demonstrate the ability to identify central issues and general management problems in complex, comprehensive cases; to suggest alternative courses of action; and to present well-supported recommendations for future action – through the integration and application of previous course materials related to the functional areas of a business (bridging the gap between theory and practice).
- Demonstrate the capability to analyze and evaluate – both qualitatively and qualitatively – the performance of the people responsible for strategic decisions and the general management of a business.
- Demonstrate an understanding of the present and future environment in which businesses must function – including the global economy, and the Internet – and their current and potential impact on business activities.
- Demonstrate an increased consciousness about the importance of ethical principles, personal and company values, and socially responsible management practices – including the role of corporate governance, and how they impact Corporate Sustainability.
- Demonstrate an actionable understanding of the strategic issues associated with non-profit, team-based, and entrepreneurial organizations.
491 SPECIAL TOPICS IN FINANCE (3)
This course will cover special topics in the area of finance. Topics covered will be based on
the research interests of the course instructor. Prerequisite: Business Administration 350.
492 SPECIAL TOPICS IN MANAGEMENT (3)
This course will cover special topics in the area of management. Topics covered will be based
on the research interests of the course instructor. Prerequisite: Business Administration 345
493 SPECIAL TOPICS IN MARKETING (3)
This course will cover special topics in the area of marketing. Topics covered will be based
on the research interests of the course instructor. Prerequisites: Business Administration 250 and
consent of the instructor
499 INTERNATIONAL BUSINESS SEMINAR (3)
A research seminar for international business majors. (This course cannot be taken during the
last semester of the senior year.) The student will develop a research paper on a topic related to
the economy or business environment of the country whose language is being studied, using both
English and foreign language sources. Topics, outlines and completed papers will be presented to
and discussed by seminar participants. A translation sample will be submitted to the Department of
Modern Foreign Languages for approval along with a "writing sample" of a business letter.
Prerequisite: Business Administration 255, 375, Economics 376, or consent of instructor.
- Contrast Asian, African or Latin American management practices with United States and European management practices and describe how those differences affect leadership decisions.
- Describe how non-western forms of business relationships, such as the chaebol, keiretsu and the Chinese family business, influence both national economies and firm competitiveness.
- Conduct strategic analyses of global organizations, including multinational corporations, born global firms, and social enterprises, and support recommendations to improve organizational competitiveness and performance with qualitative and quantitative data analyses.
- Perform a regression analysis using World Bank or United Nations data and properly interpret the regression results.
- Write an in-depth, integrative academic paper on a contemporary global business topic.
INDEPENDENT RESEARCH OR CREATIVE INVESTIGATION
(1-3)
Introductory, Intermediate, Advanced, Senior Thesis Independent Research or Creative
Investigation is a course in which students collaborate with faculty mentors on an ongoing faculty
research project or conduct an independent project under the guidance of a faculty member. This
directed undergraduate research or creative investigation culminates in a conference presentation,
journal article or other creative/scholarly project. Prerequisite: Consent of instructor.
Economics Courses (ECON)
190 PRINCIPLES OF MICROECONOMICS (3)
An introduction to economic theory and economic analysis of the American economy with
emphasis on microeconomics -- the price system, product and input market analysis. This course will
satisfy the social science core area requirement.
- Scarcity and opportunity cost.
- Demand and supply market analysis.
- Elasticity calculation of own price elasticity of demand and calculation of costs of the firm.
- The cost benefit principle as applied in the maximization concepts including the consumer with marginal utility and the firm with profits.
- Determination of the firm’s profit maximizing quantity in perfect competition and monopoly as well as contrasting the competitive market price and monopoly price.
- Market failures: why they occur and government action as possible solution.
191 PRINCIPLES OF MACROECONOMICS (3)
An introduction to economic theory and economic analysis of the American economy with
emphasis on macroeconomics -- national income analysis, fiscal and monetary policy. This course
will satisfy the social science core area requirement.
- Know the basic supply and demand model, and be able to analyze changes in price and quantity based on various changes in a good’s market.
- Understand macroeconomic variables and concepts including GDP, prices and price indices, and the unemployment rate.
- Know the Aggregate Demand / Aggregate Supply model, and be able to analyze changes in GDP and the price level given various economic events, in both the short and the long run.
- Be familiar with the basic tools of monetary and fiscal policy, and be able to comment on what policy actions would be appropriate under various economic conditions.
- Have studied the role of exchange rates in international transactions, and will understand the effect of exchange rate changes on imports, exports, and GDP.
260 STATISTICS FOR BUSINESS AND ECONOMICS (3)
An introduction to basic concepts and procedures including measure of central tendency and
variability, probability, sampling distributions, hypothesis testing, correlation and regression,
and nonparametric methods. Prerequisite: Computer Information Systems 120; Mathematics 170 or
equivalent is recommended.
- Design graphical interpretations (e.g., histograms, scatter diagrams, box plots) for a variety of business-specific datasets and interpret them appropriately.
- Calculate and interpret measures of central tendency and variability.
- Develop and analyze probability distributions (e.g., binomial, Poisson, normal) to predict potential trends in various business disciplines.
- Construct simple surveys by applying appropriate scaling techniques.
- Apply confidence intervals and hypothesis tests to made decisions about population characteristics based on sampling.
- Develop regressions and other forecasting models to make short-term forecasts.
- Demonstrate knowledge of various statistical spreadsheet software packages (e.g., SPSS and Excel) via application to a regression-based dataset.
- Communicate effectively (e.g., writing a business memo) by presenting statistical results into everyday language.
365 APPLIED RESEARCH METHODS (3)
A study of the application of statistical research to the definition and resolution of
financial marketing and economic business problems. The course will cover research design, sampling
theory, methods of data collection, the use of statistical techniques in the data analysis, and
introduce forecasting models. Prerequisites: Economics 260 and Computer Information Systems 120.
Listed also as Business Administration 365.
- Design a research study using either panel or times series data sets.
- Demonstrate understanding of the limitations of statistical analysis.
- Be able to apply statistical software for data analysis within a business setting.
- Be better able to select the appropriate statistical tool/methodology to aid in business decision making.
- Execute and interpret the results of simple, multiple and polynomial regressions.
- Execute and interpret the results of probit and logit regressions.
- Evaluate and make corrections for autocorrelation and multicollinearity.
- Be familiar with nonparametric testing and model transformations.
366 AMERICAN ECONOMIC HISTORY (3)
The market and non-market forces and personalities shaping the development of the American
economy from the colonial period through the early 1950s. Prerequisites: Economics 190 and 191.
Listed also as American Studies 366.
- Gain a solid understanding of American economic history.
- Be able to understand historic events from an economic perspective.
- Be able to evaluate original research.
- Be prepared for economic history at the graduate level.
- Produce cogent written analysis.
367 FINANCIAL MARKETS AND INSTITUTIONS (3)
This course examines money and capital markets, the instruments traded in these markets and
the major financial institutions and regulation of these markets. The first part of the course
explores market forces, determining the level and structure of interest rates. In the second part,
the money, stock and bond markets as well as the foreign exchange markets and financial derivatives
markets are analyzed. The last part of the course examines the changing structure, management and
regulation of depository institutions and investment companies. Throughout the course, the emphasis
will be on the application of the concepts being learned. Prerequisites: Economics 190 and 191.
This course will satisfy the social science core area requirement.
- Demonstrate an understanding of the characteristics of various financial instruments in domestic and international financial markets.
- Demonstrate an understanding of the characteristics and functions of various financial institutions.
- Understand the history, foundations, and economic consequences of depository institution regulation.
- Identify the market forces which determine the level and structure of interest rates.
- Analyze the health of a bank.
- Examine and interpret the actions of the FMOC .
370 INTERMEDIATE PRICE THEORY: MICROECONOMICS (3)
The mechanism of a free market economy. The theory of price and output as determined under
conditions of perfect competition, monopoly and monopolistic competition. Prerequisite: Economics
190.
- Gain a solid understanding of microeconomic theory.
- Be able to understand economic theory from a mathematical perspective.
- Be able to apply economic theory to real-world situations.
- Be prepared for microeconomics at the graduate level.
- Produce cogent written analyses.
371 INTERMEDIATE INCOME THEORY: MACROECONOMICS (3)
Theoretical study of questions concerning the economy as a whole: national income,
consumption, investment, the role of government, monetary flows and national economic growth.
Prerequisite: Economics 190 and 191.
- Reviewing the major gauges of macroeconomic performance: GDP, CPI, and unemployment measures.
- Building from the underpinnings of consumption, investment, government spending, exports, imports, money supply and money demand. C, I, G, X, M, money supply, money demand.
- Explicitly linking changes in these underpinnings to the direction of aggregate demand shifts.
- Building a model of aggregate supply from the underpinnings of the production function, resource demand, and resource supply.
- Explicitly linking changes in these underpinnings to the direction of aggregate supply shifts.
- Using the aggregate demand and supply framework to analyze fluctuations in GDP and the price level.
- Studying the asymmetric impact of the saving-investment connection on aggregate demand (short run) and aggregate supply (long run).
- Having the student demonstrate her/his grasp (depth, breadth) of the macro model by writing a paper and making a presentation that either applies the macro model in the analysis of a current economic problem or an historical macro controversy or extends the model developed in class by adding for example different expectations formulation assumptions or expanding the investment function to include GDP as well as interest rates and profitable expectations.
376 INTERNATIONAL ECONOMICS (3)
The course examines why nations trade, what determines the basis and direction of trade, who
gains or loses from trade and the dynamic nature of comparative advantage. It analyzes how
countries try to change their comparative advantage in trade through subsidies, industrial and
regulatory policies and tariff and non-tariff barriers. Multilateral and bilateral trade
arrangements and the impact of these arrangements are examined. Study of the strengths and
weaknesses of fixed and floating rate systems and the factors that affect exchange rates are
explored. Prerequisites: Economics 190 and 191.
- Analyze why countries trade by using different models such as absolute advantage, comparative advantage, and the Heckscher-Ohlin model.
- Understand the effects of protectionist policies such as tariffs, quotas, and non-tariff barriers.
- Perform balance of payments accounting and be able to explain the effects of current and capital account deficits.
- Explain the differences between fixed rate and floating exchange rate systems.
- Investigate an ethical question that arises due to globalization, international trade, or international financial integration.
450 INDEPENDENT STUDY (1-3)
Open to juniors and seniors majoring in economics.
455 INTERNSHIP (1-8)
Training in a business organization for a designated number of hours a week under the
supervision of a faculty member and the manager of the business. Exposure to various aspects of
business, finance or accounting. Prerequisite: Open to juniors and seniors majoring in
economics.
462 HISTORY OF CONTEMPORARY ECONOMIC THOUGHT (3)
This course offers an examination of the development of economic theory in the 20th century.
New classical economics, rational expectations and the natural rate of unemployment are covered.
Assessment is made of real business cycle theory, Keynesian, New Keynesian and Post- Keynesian
macroeconomic theories, as well as imperfect competition and game theory, the economics of
information and human capital theory. Prerequisite: Economics 190 and 191.
- Gain a solid understanding of contemporary economic theory.
- Be able to apply the theory to real world situations.
- Produce cogent written analyses.
- Work well in group settings.
495 SPECIAL TOPICS IN ECONOMICS (3)
This course will cover special topics in the area of economics. Topics covered will be based
on the research interests of the course instructor. Prerequisites: Economics 190 and 191.
