Outcomes

Economics & Business Department Majors:

The Department of Economics and Business offers five majors: Accounting, Business Administration, Economics, Finance, and Marketing. The majors are designed to prepare students for work in the business world or for graduate study. Students who wish to graduate with a Business Administration major are required to complete an internship. The internship may be either for-credit or non-credit bearing. All of the department majors are highly encouraged to pursue internships. The department also offers four interdisciplinary majors and three minors as listed below. 

• Accounting (BA or BS) 
• Business Administration
  • Management Concentration
  • International Business Concentration
• Economics
• Finance 
• Marketing 

Interdisciplinary Majors: 

• Business Analytics 
• Information Systems
• Computer Science with Business
• Math with Economics 

Minors: 

• Accounting
• Economics 
• Design Thinking for Social Innovation

Department of Economics and Business: Learning Objectives

Accounting B.A. Major

1. Prepare and evaluate basis financial statements according to Generally Accepted Accounting Principles
2. Identify accounting issues and recommend the prior course of action for resolution
3. Prepare a tax return for a typical middle class home-owning (or non home-owning) family with children and investments
4. Evaluate and communicate the effects of tax rules
5. Understand basic tax planning
6. Analyze and evaluate costing system, budgets, and managerial performance
7. Analyze accounting processes, evaluate risk and internal control
8. Be aware of the many career options within the accounting profession

Accounting B.S. Major

The same eight (8) outcomes as the B.A., however, in addition:

Complete an additional 22 hours through a pre-planned process which allows the student to complete the 150 hour requirement to receive the CPA license after passing the exam and completing the necessary work requirement.  Learning outcomes expanded upon from the 8 learning outcomes above are:

• Understand more complex financial issues such as accounting for leases, book vs tax differences leading to permanent and timing differences, accounting for foreign currency transaction and translation issues, consolidation accounting (including foreign consolidations), and partnership accounting among other higher level issues.
• Understand the similarities and differences between Generally Accepted Accounting Principles and International Financial Reporting Standards.
• Knowledge of the proper development and control of Accounting Information Systems including hands-on experience with a computer based Accounting Information System.
• The ability to properly research Accounting issues.
• Understand and prepare a detailed Statement of Cash Flows.

Business Administration with Management Concentration:

1. To gain familiarity with key business disciplines (accounting, finance, management, operations, marketing and strategy) and begin to understand how to make appropriate decisions in each of these domains.
2. To appreciate the importance of globalization and the international arena in contemporary business, and to have some practical understanding of the role of globalization in the conduct of business.
3. To recognize the key role of economic principles in establishing the logic of various business activities.
4. Ideally, to begin to recognize the interdependence of business functions and how strategic decisions in one area (e.g., marketing introduces a new product) may affect other areas (e.g., finance needs to raise money to support new product introduction, HR needs to increase staffing needs, operations and supply chain issues, etc.)

Business Administration with International Business Concentration:

1. Understand how key business disciplines such as finance, management, operations, marketing and strategy differ in domestic and international markets.
2. Understand the socio-cultural, economic, political, and technological forces shaping the global economy and the complexities businesses face when “going global.”
3. Identify and understand different international business strategies.
4. Increase cultural awareness and seek greater understanding of how cultural differences affect international business.
5. Examine the interconnectedness among businesses, governments, and organizations across the world, and provide theoretical and applied frameworks to understand the pillars of a globalized planet.
6. Be aware of the many career options international business majors have.

Economics Major

1. Develop an understanding of, and ability to use “the economic way of thinking;” weighing costs and benefits at the margin.
2. Develop an understanding of how markets and the economy function and where they may fail.
3. Develop an understanding of macroeconomic and microeconomic theory. 
4. Be proficient in the use of fundamental economic tools, including basic data analysis, statistics and graphical analysis. 
5. Be able to apply these tools to examine macroeconomic policy questions (e.g. regarding fiscal and monetary policy).
6. Be able to apply these tools to microeconomic policy questions (e.g. regarding the environment; labor, & sports markets, and markets where competition is ineffective).
7. Understand and be able to explain competing economic philosophies regarding public policy corrective actions over markets and the economy.
    

Finance Major

1. Develop a broad understanding of financial theories and tools and the application therein to the field of financial management. 
2. Analyze and evaluate financial statements to make sound inferences regarding financial stability. 
3. Understand the role of domestic and international financial institutions in the global economy and financial markets. 
4. Apply the tools of financial analysis and decision making to portfolio management. 
5. Effectively communicate, in both oral and written form, the financial decision making process. 
6. Develop an appreciation and awareness of the ethical financial decision making.

Marketing Major

1. Understand key marketing concepts, including segmentation, target marketing, and the marketing mix variables.
2. Develop knowledge of general strategic marketing frameworks.
3. Recognize the interrelated nature of marketing with other business disciplines.
4. Understand the specific qualitative and quantitative analysis methods utilized in marketing.
5. Develop the ability to solve marketing-related problems.
6. Develop communication and presentation skills, both verbally and written, to effectively communicate in an organizational setting.
7. Be able to recognize and evaluate ethical dilemmas in marketing.
8. Understand the complexities of multicultural and global marketing.
9. Understand the ways in which marketing influences, and is influenced by, the broader society in which it takes place.

We also offer an interdisciplinary minor, human relations and work, as well as two combined majors, computer science with business, or mathematics with economics. In addition to specialized courses and enriching internship placements, all students study "financial accounting," "statistics," "principles of economics: micro," and "principles of economics: macro."

The department also offers minors in Accounting and Economics.

Our faculty will work with you to identify and pursue opportunities that interest you. Whether you are studying accounting, and applying your coursework in the Bloomberg Room, or joining classmates on an international business trip to China, you will find a program that challenges you to think on your feet, and adapt to the ever-changing global marketplace.