Guide to Academic Planning 2017-2018

Economics and Business

Students interested in accounting, economics or business should take ECON 100 Survey of Economic Issues or BUSI 100 Contemporary Issues in Business and Entrepreneurship. They also are encouraged to take either MATH 120 Functions and Models or MATH 130 Calculus I during their freshman year.

Major courses do not begin until the sophomore year; however, the following courses may be taken with consent of instructor: BUSI 200 and BUSI 210 Principles of Accounting I and II, ECON 200 Microeconomic Theory, or ECON 210 Macroeconomic Theory .

Major

The Department of Economics and Business offers:

  1. A major in Economics and Business Courses, Schedule
  2. A major in Economics Courses, Schedule
  3. A major in Accounting Courses, Schedule
  4. A minor in Business Courses
  5. A minor in Economics Courses
  6. A minor in Accounting Courses
  7. A minor in International Business Courses
  8. A Master of Arts in Accounting Courses, Schedule

Students are not allowed to earn a double major solely in the Department. Students who major in Economics and Business, Economics, or Accounting may not minor in Business, Economics, or Accounting, but may minor in International Business. If a student majoring in the Department also chooses to minor in International Business, that student may not double count courses in the final two bullets of the International Business minor for satisfaction of major requirements.

Course Requirements

  1. Major in Economics and Business
    • BUSI 200 Principles of Accounting I
    • BUSI 210 Principles of Accounting II
    • ECON 200 Microeconomic Theory
    • ECON 210 Macroeconomic Theory
    • BUSI 250 Principles of Statistics
    • BUSI 350 Business Law
    • MATH 120 Functions and Models or higher Math course
    • Any two (2) upper-level business courses from the following list:
      • BUSI 300 Intermediate Accounting I
      • BUSI 310 Intermediate Accounting II
      • BUSI 320 Federal Tax Accounting
      • BUSI 330 Cost Accounting
      • BUSI 370 Auditing
      • BUSI 390 Accounting Information Systems and Database Management
      • BUSI 410 Advanced Cost Accounting
    • Any three (3) upper-level economics courses from the following list:
      • ECON 300 Advanced Microeconomic Theory
      • ECON 310 Advanced Macroeconomic Theory
      • ECON 320 Money, Banking, and Credit
      • ECON 340 Environmental Economics
      • ECON 350 History of Economic Thought
      • ECON 360 International Economics
      • ECON 370 Industrial Organization
      • ECON 380 Public Finance
      • ECON 385 Labor Economics
      • ECON 400 Econometrics and Forecasting
      • ECON 410 Corporate Finance
      • ECON 430 Management Science
      • ECON 497 Economic Research
  2. Major in Economics
    • BUSI 200 Principles of Accounting I
    • BUSI 210 Principles of Accounting II
    • ECON 200 Microeconomic Theory
    • ECON 210 Macroeconomic Theory
    • BUSI 250 Principles of Statistics
    • MATH 120 Functions and Models or higher Math course
    • Any two (2) upper-level business courses from the following list:
      • BUSI 300 Intermediate Accounting I
      • BUSI 310 Intermediate Accounting II
      • BUSI 320 Federal Tax Accounting
      • BUSI 330 Cost Accounting
      • BUSI 370 Auditing
      • BUSI 390 Accounting Information Systems and Database Management
      • BUSI 410 Accounting for Management Planning and Control
    • Any five (5) upper-level economics courses from the following list:
      • ECON 300 Advanced Microeconomic Theory
      • ECON 310 Advanced Macroeconomic Theory
      • ECON 320 Money, Banking, and Credit
      • ECON 340 Environmental Economics
      • ECON 350 History of Economic Thought
      • ECON 360 International Economics
      • ECON 370 Industrial Organization
      • ECON 380 Public Finance
      • ECON 385 Labor Economics
      • ECON 400 Econometrics and Forecasting
      • ECON 410 Corporate Finance
      • ECON 430 Management Science
      • ECON 497 Economic Research
  3. Major in Accounting
    • BUSI 200 Principles of Accounting I
    • BUSI 210 Principles of Accounting II
    • ECON 200 Microeconomic Theory
    • ECON 210 Macroeconomic Theory
    • BUSI 250 Principles of Statistics
    • MATH 120 Functions and Models or its equivalent
    • ECON 410 Corporate Finance
    • Any four (4) upper-level business courses from the following list:
      • BUSI 300 Intermediate Accounting I
      • BUSI 310 Intermediate Accounting II
      • BUSI 320 Federal Tax Accounting
      • BUSI 330 Cost Accounting
      • BUSI 370 Auditing
      • BUSI 390 Accounting Information Systems and Database Management
      • BUSI 410 Advanced Cost Accounting
    • Any two (2) upper-level economics courses from the following list:
      • ECON 300 Advanced Microeconomic Theory
      • ECON 310 Advanced Macroeconomic Theory
      • ECON 320 Money, Banking, and Credit
      • ECON 340 Environmental Economics
      • ECON 350 History of Economic Thought
      • ECON 360 International Economics
      • ECON 370 Industrial Organization
      • ECON 380 Public Finance
      • ECON 385 Labor Economics
      • ECON 400 Econometrics and Forecasting
      • ECON 430 Management Science
      • ECON 497 Economic Research
  4. Minor in Business
    • Six (6) courses from the following list:
    • BUSI 200 Principles of Accounting I
    • BUSI 210 Principles of Accounting II
    • MATH 120 Functions and Models (or higher Math course)
    • ECON 200 Microeconomic Theory
    • BUSI 350 Business Law
    • One (1) course from the following:
      • BUSI 290 International Marketing
      • BUSI 300 Intermediate Accounting I
      • BUSI 310 Intermediate Accounting II
      • BUSI 320 Federal Taxation
      • BUSI 330 Cost Accounting
      • BUSI 390 Accounting Information Systems and Database Management
      • ECON 320 Money, Banking, and Credit
      • ECON 340 Environmental Economics
      • ECON 370 Industrial Organization
      • ECON 385 Labor Economics
      • ECON 410 Corporate Finance
      • ECON 430 Management Science
  5. Minor in Economics
    • Any six (6) economics courses from the following list:
      • ECON 100 Survey of Economics
      • ECON 200 Microeconomic Theory
      • ECON 210 Macroeconomic Theory
      • ECON 300 Advanced Microeconomic Theory
      • ECON 310 Advanced Macroeconomic Theory
      • ECON 320 Money, Banking, and Credit
      • ECON 340 Environmental Economics
      • ECON 350 History of Economic Thought
      • ECON 360 International Economics
      • ECON 370 Industrial Organization
      • ECON 380 Public Finance
      • ECON 385 Labor Economics
      • ECON 390 Investments
      • ECON 400 Econometrics and Forecasting
      • ECON 410 Corporate Finance
      • ECON 430 Management Science
      • ECON 497 Economic Research
  6. Minor in Accounting
    • ECON 200 Microeconomic Theory
    • Any five (5) business courses from the following list:
      • BUSI 100 Contemporary Issues in Business and Entrepreneurship
      • BUSI 200 Principles of Accounting I
      • BUSI 210 Principles of Accounting II
      • BUSI 300 Intermediate Accounting I
      • BUSI 310 Intermediate Accounting II
      • BUSI 320 Federal Tax Accounting
      • BUSI 330 Cost Accounting
      • BUSI 370 Auditing
      • BUSI 390 Accounting Information Systems and Database Management
      • BUSI 410 Advanced Cost Accounting
  7. Minor in International Business

    Six courses distributed as follows:

    • ECON 200 Microeconomic Theory
    • ECON 210 Macroeconomic Theory
    • BUSI 200 Principles of Accounting I
    • Any two of the following:
      • BUSI 280 Global Business
      • BUSI 290 International Marketing
      • ECON 335 International Finance
      • ECON 360 International Economics
    • One upper-level study abroad economics or business course (excluding those  taken in the preceding bulleted section) or one study abroad internship. (An internship may be conducted in an international department of a domestic company.)

    NOTE: Students majoring in the Economics and Business Department may not double

    count courses in the last two bulleted sections for satisfaction of major requirements.

  8. Master of Arts in Accounting

    A total of eight (8) courses are required with the following specifications:

    • ECON 530 Management Science
    •  ECON 550 Managerial Economics
    • And six (6) courses from the following list including at least four (4) business courses:
      • BUSI 500 Taxation for Business Entities
      • BUSI 510 Advanced Cost Accounting
      • BUSI 520 Seminar in Advanced Accounting
      • BUSI 530 Governmental and Non-Profit Accounting
      • BUSI 540 Advanced Auditing
      • BUSI 550 Business Law
      • BUSI 590 Accounting Information Systems and Database Management
      • BUSI 598/599 Independent Study or Internship in Accounting
      • ECON 500 Econometrics and Forecasting
      • ECON 570 Industrial Organization
      • ECON 590 Economic Research
      • ECON 599 Independent Study in Economics

No more than two of the eight graduate course requirements may be satisfied by BUSI 598, BUSI 599, and ECON 599. 

Prerequisites for admittance into the Masters program include majoring in Accounting, Economics, or Economics and Business and consent of the faculty. Because CPA Exam requirements vary by state, students should be informed of the prerequisites required by the state in which they plan to take the CPA Exam.

The State of Arkansas requires 30 semester hours beyond the Hendrix B.A. in order to obtain CPA licensure. This fifth year Master of Arts in Accounting program may be used to fulfill this requirement. Interested students should contact the department chair by the end of their sophomore year for details or for information regarding programs offered to qualify to sit for the professional certification examinations.

COURSE PLANNING

A typical student’s schedule (for each of the three majors)

Economics and Business
Fall Spring
First Year The Engaged Citizen & Explorations Language II
Language I Learning Domain 2
Learning Domain 1 MATH 120 Functions and Models
ENGL 110 Intro to Academic Writing Elective
Second Year ECON 200 Microeconomic Theory ECON 210 Macroeconomics Theory
BUSI 200 Principles of Accounting I BUSI 210 Principles of Accounting II
Elective Learning Domain 4
Learning Domain 3 Elective
Third Year Upper-level Economics (1) Upper-level Economics (2)
Upper-level Business (1) Upper-level Business (2)
Learning Domain 5 Learning Domain 6
BUSI 250 Principles of Statistics Elective
Fourth Year Upper-level Economics (3) BUSI 350 Business Law
Learning Domain 7 Elective
Elective Elective
Elective Elective
Economics
Fall Spring
First Year The Engaged Citizen & Explorations Language II
Language I Learning Domain 2
Learning Domain 1 MATH 120 Functions and Models
ENGL 110 Intro to Academic Writing Elective
Second Year ECON 200 Microeconomic Theory ECON 210 Macroeconomics Theory
BUSI 200 Principles of Accounting I BUSI 210 Principles of Accounting II
Elective - World course (CW) Learning Domain 4
Learning Domain 3 Elective
Third Year Upper-level Economics (1) Upper-level Business (2)
Upper-level Business (1) Learning Domain 6
Learning Domain 5 Elective
BUSI 250 Principles of Statistics Elective
Fourth Year Economic Research (3) Upper-level Economics (5)
Upper-level Economics (4) Upper-level Business (2)
Learning Domain 7 Elective
Elective Elective
Accounting
Fall Spring
First Year The Engaged Citizen & Explorations Language II
Language I Learning Domain 2
Learning Domain 1 MATH 120 Functions and Models
ENGL 110 Intro to Academic Writing Elective
Second Year ECON 200 Microeconomics Theory  ECON 210 Macroeconomics Theory 
  BUSI 200 Principles of Accounting I  BUSI 210 Principles of Accounting II 
  Elective  Learning Domain 4 
Learning Domain 3  Elective 
Third Year Upper-Level Economics (1)   Upper-Level Business (2) 
  Upper-Level Business (1)  Learning Domain 6 
  Learning Domain 5  Elective 
  BUSI 250 Principles of Statistics  Elective 
Fourth Year Upper-Level Business (3)  Upper-Level Business (4) 
  ECON 410 Corporate Finance Upper-Level Economics (2) 
  Learning Domain 7  BUSI 497 Corporate Strategy
  Elective Elective 
Possible Preparation for the Masters of Arts in Accounting Program
Fall Spring
First Year The Engaged Citizen & Explorations  Language II 
  Language I  Learning Domain 2 
  Learning Domain 1  MATH 120 Functions and Models 
ENGL 110 Intro to Academic Writing  Elective 
Second Year ECON 200 Microeconomics Theory  ECON 210 Macroeconomics Theory 
  BUSI 200 Principles of Accounting I  BUSI 210 Principles of Accounting II 
  MATH Calculus  I Learning Domain 3 
  Elective  Elective 
Third Year BUSI 300 Intermediate Accounting I  BUSI 310 Intermediate Accounting II
  ECON 300 Advanced Microeconomics  BUSI 330 Cost Accounting 
  Learning Domain 4  Learning Domain 5 
  BUSI 250 Principles of Statistics  Learning Domain 6 
Fourth Year Federal Tax Accounting  Auditing 
  Corporate Finance  Money, Banking, and Credit 
  Learning Domain 7  Corporate Strategy 
  Elective  Elective 

Masters

Fall Spring 
  Advanced Cost Accounting  Business Law 
  Taxation for Business Entities  Governmental & Non-Profit Accounting 
  Seminar in Advanced Accounting  Management Science 
  Managerial Economics Accounting Information Systems 

SENIOR CAPSTONE EXPERIENCE

The Senior Capstone Experience for the accounting major, the economics major, and the economics and business major may be accomplished in one of four ways:

  1. Completion of the course ECON 497 Economic Research with a grade of “C or above.
  2. Completion of the course BUSI 497 Corporate Strategy with a grade of “C” or above.
  3. Passing a comprehensive written examination with three parts:
    1. Principles of Accounting I and II
    2. Microeconomic Theory and Macroeconomic Theory; and 
    3. A concentration based on two upper-level courses, both of which are either accounting or economics courses.
  4. Successful completion of an economic research project in conjunction with the Baker Prize in Economics.

The grade for the Senior Capstone Experience is based on the Economic Research course, the Corporate Strategy course, the written comprehensive examination, or determined by the faculty member sponsoring the Baker Prize research project.