Catalog 2018-2019

Economics and Business

Teaching Faculty

Professors Rupertย (chair) and R. Scottย 
Associate Professor Leonard
Assistant Professors Bergfeld, Haden Chomphosy, Hanlon, and Looney

Description

The Department of Economics and Business offers three majors: a major in Economics and Business, a major in Economics, and a major in Accounting; three minors: a minor in Business, a minor in Economics, and a minor in Accounting; and a graduate degree: Master of Arts in Accounting.ย ย 

Students are not allowed to earn a double-major solely in the Department. Likewise, 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 last two categories of the International Business minor for satisfaction of the major requirements.

Major in Economics and Business

12 courses distributed as follows:

  • BUSI 200 Principles of Accounting Iย 
  • BUSI 210 Principles of Accounting II
  • ECON 200ย  Microeconomic Theory ย 
  • ECON 210ย  Macroeconomic Theoryย 
  • BUSI 250ย  Principles of Statisticsย 
  • BUSI 350ย  Business Lawย 
  • MATH 120ย  Functions and Models ย or higher mathematics courseย 
  • 2 upper-level accounting courses from the following:ย 
    ย  ย  ย  ย  ย  BUSI 300ย  Intermediate Accounting Iย 
    ย  ย  ย  ย  ย  BUSI 310ย  Intermediate Accounting IIย 
    ย  ย  ย  ย  ย  BUSI 320ย  Taxation for Individualsย 
    ย  ย  ย  ย  ย  BUSI 330ย  Cost Accountingย 
    ย  ย  ย  ย  ย  BUSI 370ย  Auditingย 
    ย  ย  ย  ย  ย  BUSI 390ย  Accounting Information Systems and Database Managementย 
    ย  ย  ย  ย  ย  BUSI 410ย  Advanced Cost Accountingย 
  • 3 upper-level economics courses from the following:ย 
    ย  ย  ย  ย  ย  ECON 300ย  Advanced Microeconomic Theory ย 
    ย  ย  ย  ย  ย  ECON 310ย  Advanced Macroeconomic Theoryย 
    ย  ย  ย  ย  ย  ECON 320ย  Money, Banking, and Creditย 
    ย  ย  ย  ย  ย  ECON 340ย  Environmental Economicsย 
    ย  ย  ย  ย  ย  ECON 350ย  History of Economic Thought ย 
    ย  ย  ย  ย  ย  ECON 360ย  International Economics ย 
    ย  ย  ย  ย  ย  ECON 370ย  Industrial Organization
    ย  ย  ย  ย  ย  ECON 380ย  Public Finance ย 
    ย  ย  ย  ย  ย  ECON 385ย  Labor Economicsย 
    ย  ย  ย  ย  ย  ECON 400ย  Econometrics and Forecasting ย 
    ย  ย  ย  ย  ย  ECON 410ย  Corporate Finance ย 
    ย  ย  ย  ย  ย  ECON 430ย  Management Science ย 
    ย  ย  ย  ย  ย  ECON 497ย  Economic Research

Major in Economics

13 courses distributed as follows:

  • BUSI 200 Principles of Accounting I
  • BUSI 210 Principles of Accounting IIย 
  • ECON 200ย  Microeconomic Theory ย 
  • ECON 210ย  Macroeconomic Theory ย 
  • BUSI 250ย  Principles of Statistics ย 
  • MATH 120ย  Functions and Models ย or higher mathematics courseย 
  • 2 upper-level business courses from the following:ย 
    ย  ย  ย  ย  ย  BUSI 300ย  Intermediate Accounting Iย 
    ย  ย  ย  ย  ย  BUSI 310ย  Intermediate Accounting IIย 
    ย  ย  ย  ย  ย  BUSI 320ย  Taxation for Individualsย 
    ย  ย  ย  ย  ย  BUSI 330ย  Cost Accountingย 
    ย  ย  ย  ย  ย  BUSI 370 Auditingย 
    ย  ย  ย  ย  ย  BUSI 390ย  Accounting Information Systems and Database Management ย 
    ย  ย  ย  ย  ย  BUSI 410ย  Advanced Cost Accounting ย 
  • 5 upper-level economics courses from the following:ย 
    ย  ย  ย  ย  ย  ECON 300ย  Advanced Microeconomic Theoryย 
    ย  ย  ย  ย  ย  ECON 310ย  Advanced Macroeconomic Theory ย 
    ย  ย  ย  ย  ย  ECON 320ย  Money, Banking, and Creditย 
    ย  ย  ย  ย  ย  ECON 340ย  Environmental Economicsย 
    ย  ย  ย  ย  ย  ECON 350ย  History of Economic Thoughtย 
    ย  ย  ย  ย  ย  ECON 360 ย International Economics ย 
    ย  ย  ย  ย  ย  ECON 370 ย Industrial Organizationย 
    ย  ย  ย  ย  ย  ECON 380ย  Public Finance ย 
    ย  ย  ย  ย  ย  ECON 385ย  Labor Economics ย 
    ย  ย  ย  ย  ย  ECON 400ย  Econometrics and Forecasting ย 
    ย  ย  ย  ย  ย  ECON 410ย  Corporate Financeย 
    ย  ย  ย  ย  ย  ECON 430ย  Management Science ย 
    ย  ย  ย  ย  ย  ECON 497ย  Economic Researchย 

Note(s):

Graduate programs in Economics expect the following courses: ECON 300, ECON 310, ECON 400, and ECON 497 as well as the equivalent of a minor in mathematics.

Major in Accounting

13 courses distributed as follows:

  • BUSI 200 Principles of Accounting I ย 
  • BUSI 210 Principles of Accounting II
  • ECON 200ย  Microeconomic Theory ย 
  • ECON 210ย  Macroeconomic Theory ย 
  • BUSI 250ย  Principles of Statisticsย 
  • MATH 120 ย Functions and Models ย or higher mathematics courseย 
  • ECON 410ย  Corporate Finance ย 
  • 4 upper-level accounting courses from the following:ย 
    ย  ย  ย  ย  ย  BUSI 300 Intermediate Accounting I
    ย  ย  ย  ย  ย  BUSI 310ย  Intermediate Accounting II ย  ย 
    ย  ย  ย  ย  ย  BUSI 320ย  Taxation for Individuals ย 
    ย  ย  ย  ย  ย  BUSI 330ย  Cost Accounting ย 
    ย  ย  ย  ย  ย  BUSI 370ย  Auditingย 
    ย  ย  ย  ย  ย  BUSI 390ย  Accounting Information Systems and Database Management ย 
    ย  ย  ย  ย  ย  BUSI 410ย  Advanced Cost Accountingย 
  • 2 upper-level economics courses from the following:ย 
    ย  ย  ย  ย  ย  ECON 300ย  Advanced Microeconomic Theory ย 
    ย  ย  ย  ย  ย  ECON 310ย  Advanced Macroeconomic Theory ย 
    ย  ย  ย  ย  ย  ECON 320ย  Money, Banking, and Credit ย 
    ย  ย  ย  ย  ย  ECON 340ย  Environmental Economicsย 
    ย  ย  ย  ย  ย  ECON 350ย  History of Economic Thought ย 
    ย  ย  ย  ย  ย  ECON 360 ย International Economics ย 
    ย  ย  ย  ย  ย  ECON 370ย  Industrial Organizationย 
    ย  ย  ย  ย  ย  ECON 380ย  Public Financeย 
    ย  ย  ย  ย  ย  ECON 385ย  Labor Economicsย 
    ย  ย  ย  ย  ย  ECON 400ย  Econometrics and Forecasting ย 
    ย  ย  ย  ย  ย  ECON 430ย  Management Science ย 
    ย  ย  ย  ย  ย  ECON 497ย  Economic Research

Senior Capstone Experience

Economics and Business, Economics, and Accounting

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:ย 

  • Completion of the course ECON 497ย  Economic Research ย with a grade of "C" or above;ย 
  • Completion of the course BUSI 497ย  Corporate Strategy ย with a grade of "C" or above; orย 
  • Passing a comprehensive written examination with three parts: (1) BUSI 200, 210ย  Principles of Accounting Iย andย II ; (2) ECON 200ย  Microeconomic Theory ย and ECON 210ย  Macroeconomic Theory ; and (3) a concentration based on two upper-level courses, both of which are either accounting or economics courses. ย 
  • Successful completion of an economic research project in conjunction with the Baker Prize in Economics.ย 

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

The Baker Prize in Economics is awarded in the spring to a rising senior majoring in the Economics and Business Department. Students compete for this award by submitting a proposal for an economic research project over the following summer under the supervision of a Hendrixย College Economics Professor. The Baker Prize winner receives a stipend, and the completed research project can be used to satisfy the senior capstone requirement as well as an Odyssey undergraduate research (UR) credit.ย 

Minor in Business

6 courses from the following:

  • BUSI 200ย  Principles of Accounting I
  • BUSI 210ย  Principles of Accounting IIย 
  • BUSI 350ย  Business Lawย 
  • ECON 200 ย Microeconomic Theory ย 
  • MATH 120ย  Functions and Models ย (or higher mathematics course)ย 
  • 1 course from the following:ย 
    ย  ย  ย  ย  ย  BUSI 290ย  International Marketingย 
    ย  ย  ย  ย  ย  BUSI 300ย  Intermediate Accounting I ย 
    ย  ย  ย  ย  ย  BUSI 310ย  Intermediate Accounting IIย 
    ย  ย  ย  ย  ย  BUSI 320ย ย  Taxation for Individuals ย 
    ย  ย  ย  ย  ย  BUSI 330ย  Cost Accountingย 
    ย  ย  ย  ย  ย  BUSI 390ย  Accounting Information Systems and Database Management ย 
    ย  ย  ย  ย  ย  ECON 320 ย Money, Banking, and Credit ย 
    ย  ย  ย  ย  ย  ECON 340ย  Environmental Economics ย 
    ย  ย  ย  ย  ย  ECON 370ย  Industrial Organization ย 
    ย  ย  ย  ย  ย  ECON 385ย  Labor Economics ย 
    ย  ย  ย  ย  ย  ECON 410ย  Corporate Financeย 
    ย  ย  ย  ย  ย  ECON 430ย  Management Science

Minor in Economics

7 courses distributed as follows:

  • MATH 120ย  Functions and Models ย (or higher mathematics course)ย 
  • 6 economics courses from the following:ย 
    ย  ย  ย  ย  ย  ECON 100ย  Survey of Economics ย 
    ย  ย  ย  ย  ย  ECON 200ย  Microeconomic Theory ย 
    ย  ย  ย  ย  ย  ECON 210ย  Macroeconomic Theoryย 
    ย  ย  ย  ย  ย  ECON 300ย  Advanced Microeconomic Theory
    ย  ย  ย  ย  ย  ECON 310ย  Advanced Macroeconomic Theory ย 
    ย  ย  ย  ย  ย  ECON 320ย  Money, Banking, and Creditย 
    ย  ย  ย  ย  ย  ECON 340ย  Environmental Economics ย 
    ย  ย  ย  ย  ย  ECON 350ย  History of Economic Thoughtย 
    ย  ย  ย  ย  ย  ECON 360ย  International Economicsย 
    ย  ย  ย  ย  ย  ECON 370ย  Industrial Organization ย 
    ย  ย  ย  ย  ย  ECON 380ย  Public Finance ย 
    ย  ย  ย  ย  ย  ECON 385ย  Labor Economics ย 
    ย  ย  ย  ย  ย  ECON 390 ย Investmentsย 
    ย  ย  ย  ย  ย  ECON 400ย  Econometrics and Forecasting ย 
    ย  ย  ย  ย  ย  ECON 410ย  Corporate Financeย 
    ย  ย  ย  ย  ย  ECON 430ย  Management Scienceย 
    ย  ย  ย  ย  ย  ECON 497ย  Economic Research

Minor in Accounting

7 courses distributed as follows:

  • MATH 120 ย Functions and Models ย (or higher mathematics course)ย 
  • 5 accounting courses from the following:ย 
    ย  ย  ย  ย  ย  BUSI 100ย  Contemporary Issues in Business and Entrepreneurshipย 
    ย  ย  ย  ย  ย  BUSI 200ย  Principles of Accounting Iย 
    ย  ย  ย  ย  ย  BUSI 210ย  Principles of Accounting IIย 
    ย  ย  ย  ย  ย  BUSI 300 ย Intermediate Accounting Iย 
    ย  ย  ย  ย  ย  BUSI 310ย  Intermediate Accounting IIย 
    ย  ย  ย  ย  ย  BUSI 320ย  Taxation for Individuals ย 
    ย  ย  ย  ย  ย  BUSI 330ย  Cost Accounting ย 
    ย  ย  ย  ย  ย  BUSI 370 ย Auditingย 
    ย  ย  ย  ย  ย  BUSI 390ย  Accounting Information Systems and Database Management ย 
    ย  ย  ย  ย  ย  BUSI 410ย  Advanced Cost Accountingย 
  • ECON 200ย  Microeconomic Theory

Master of Arts in Accounting

8 courses distributed as follows:

  • ECON 530ย  Management Scienceย 
  • ECON 550ย  Managerial Economicsย 
  • 6 courses from the following list including at least 4 business courses:ย 
    ย  ย  ย  ย  ย  BUSI 500ย  Taxation for Business Entitiesย 
    ย  ย  ย  ย  ย  BUSI 510ย  Advanced Cost Accounting ย 
    ย  ย  ย  ย  ย  BUSI 520ย  Seminar in Advanced Accountingย 
    ย  ย  ย  ย  ย  BUSI 530ย  Governmental and Non-Profit Accountingย 
    ย  ย  ย  ย  ย  BUSI 550ย  Business Lawย 
    ย  ย  ย  ย  ย  BUSI 570ย  Auditing
    ย  ย  ย  ย  ย  BUSI 580ย  Advanced Auditing
    ย  ย  ย  ย  ย ย BUSI 585ย  Forensic Accounting and Fraud Examination
    ย  ย  ย  ย  ย ย BUSI 590ย  Accounting Information Systems and Database Managementย  ย  ย 
    ย  ย  ย  ย  ย  BUSI 598ย  Independent Study or BUSI 599 Internship in Accounting
    ย  ย  ย  ย  ย  ECON 500ย  Econometrics and Forecastingย 
    ย  ย  ย  ย  ย  ECON 530ย ย  Management Science
    ย  ย  ย  ย  ย  ECON 550ย ย  Managerial Economics
    ย  ย  ย  ย  ย  ECON 570ย  Industrial Organization ย 
    ย  ย  ย  ย  ย  ECON 590ย  Economic Research ย 
    ย  ย  ย  ย  ย  ECON 599ย  Independent Study in Economics

Note(s):

  • No more than 2 of the 8 graduate course requirements may be satisfied by BUSI 598, BUSI 599, and ECON 599.ย 
  • Prerequisites for admittance into theย Mastersย 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 inย Accountingย 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 for professional certification examinations.

ย 

Entrepreneurial Studies

Entrepreneurial Studies provides opportunities for the study of the current and historical role of entrepreneurs in market economies. It provides a forum for public debate about the roles played by entrepreneurs in local, regional, national and international economic spheres. The Center engages in activities complementing the educational enterprise at the College, such as sponsoring nationally prominent and local speakers on an occasional basis and an annual business plan competition. For additional information contact the Department of Economics and Business.

Contact:ย Lyle Rupert

Program Course Listings

The courses for this program are organized into the following categories:

Economics Courses

ECON 100

Survey of Economic Issues

An introduction to economic theory and practice with emphasis on applications to the contemporary social world.

Social and Behavioral Analysis SB
ECON 200

Microeconomic Theory

Introduction to concepts and methods of microeconomics. Emphasis is placed on resource allocation, effects of market structures, and the manner in which these market structures affect the economics decisions of a business entity. Prerequisite: MATH 120 or higher mathematics course.

MATH 120 or higher mathematics course.
Quantitative Studies QS
Social and Behavioral Analysis SB
ECON 210

Macroeconomic Theory

Introduction to concepts and methods of macroeconomics. Topics such as inflation, unemployment, and economic growth are examined. The role of monetary and fiscal policy in achieving macroeconomic objectives is emphasized. Prerequisite: MATH 120 or higher mathematics course.

MATH 120 or higher mathematics course.
Quantitative Studies QS
Social and Behavioral Analysis SB
ECON 300

Advanced Microeconomic Theory

Advanced Microeconomic Theory extends the analysis of supply and demand, utility maximization, and firm behavior with explicit attention to the mathematical underpinnings. This course also provides a basic introduction to game theory and the topics of risk and uncertainty. Prerequisites: ECON 200. Recommended: MATH 130 or higher.

ECON 200.
MATH 130 or higher.
Social and Behavioral Analysis SB
ECON 310

Advanced Macroeconomic Theory

A study of the functioning of the aggregate economy and the influences of monetary and fiscal policy on it. Special emphasis is placed on the economics of inflation. Prerequisites: ECON 200 and 210 or consent. Recommended: MATH 130 or higher.

ECON 200 and 210 or consent.
MATH 130 or higher.
ECON 320

Money, Banking, and Credit

A study of the U.S. commercial banking system and its role in the economy. Investigates the role of the Federal Reserve and the impact of monetary policy on the aggregate economy. Prerequisites: ECON 200 and 210 or consent.

ECON 200 and 210 or consent.
ECON 335

International Finance

This course covers topics such as international financial markets, foreign exchange risk management, export/import finance, global financing strategies, international trade flow payments, and financial dimensions of political risk management. Prerequisites: One course from ECON 100, ECON 200, or ECON 210, and one course from BUSI 100 or BUSI 200.

One course from ECON 100, ECON 200, or ECON 210, and one course from BUSI 100 or BUSI 200.
ECON 340

Environmental Economics

Introduces students to the ways in which the tools of economic analysis can enable them to better evaluate environmental issues and policies. Topics covered include alternative governmental responses to externalities, the Coase Theorem, criteria for evaluating economic efficiency, measurement and discounting of environmental costs and benefits, exhaustible resources, energy resources, and sustainability.

Social and Behavioral Analysis SB
ECON 350

History of Economic Thought

An investigation of the evolution of economic ideas from the mercantilist period of the seventeenth century to the twentieth century. The economics of Adam Smith, Karl Marx, and David Ricardo, among others, are discussed. Emphasis is placed on how historical ideas inform current economic views. Prerequisites: ECON 100 or 200 or 210 or consent

ECON 100 or 200 or 210 or consent
Historical Perspectives HP
Social and Behavioral Analysis SB
ECON 360

International Economics

Survey of the pure theory of trade and international monetary systems. International and domestic effects of each international monetary system are examined. Prerequisites: ECON 200 and 210 or consent. Recommended: ECON 300.

ECON 200 and 210 or consent.
ECON 300.
ECON 370

Industrial Organization

The application of microeconomics to the problems of monopoly, oligopoly, restraints of trade, and other market imperfections. The course also focuses on the economic rationale for antitrust policy and regulation of public utilities. Prerequisites: ECON 200 and 210 or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

ECON 200 and 210 or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
ECON 380

Public Finance

This course discusses the function of government in the economy. The course covers the governmentโ€™s role in education, health care, and income redistribution and examines taxation, public goods, externalities, and methods for measuring public welfare. Prerequisite: ECON 200 or consent.

ECON 200 or consent.
ECON 385

Labor Economics

This course applies microeconomic analysis to the labor market. It considers factors that influence the economyโ€™s demand for labor and the supply of labor, discusses labor market problems such as unemployment and poverty, and employs statistical methods to analyze labor market data. Prerequisite: ECON 200 or consent

ECON 200 or consent
ECON 390

Investments

This course offers the non-major an introduction to the range of investment opportunities available in current financial markets.

Social and Behavioral Analysis SB
ECON 400

Econometrics and Forecasting

A study of multiple regression analysis and its use in the estimation, testing, and forecasting of economic phenomena and business relationships. Emphasis is placed on the application of statistical methods to actual economic and business data. Prerequisite: BUSI 250. This course may be taken for credit at the undergraduate or graduate level but not both.

BUSI 250. This course may be taken for credit at the undergraduate or graduate level but not both.
ECON 410

Corporate Finance

Survey of modern fiscal management theory and concepts. Topics covered include valuation models of securities, capital expenditure decisions, analysis of financial statements, capital structure and financing decisions, and dividend policy. Prerequisites: ECON 200 and 210; BUSI 200 or consent.

ECON 200 and 210; BUSI 200 or consent.
ECON 430

Management Science

A study of mathematical modeling and problem solving applied to business issues. Topics include linear programming, integer programming, decision making under uncertainty, game theory, and inventory modeling. Recommended: BUSI 250. This course may be taken for credit at the undergraduate or graduate level but not both.

BUSI 250. This course may be taken for credit at the undergraduate or graduate level but not both.
ECON 497

Economic Research

The purpose of this course is to mentor students to complete an independent and original economics research project on a topic of the studentโ€™s choosing. The class is conducted primarily as a seminar with major focus on the successful completion of a senior research thesis.

Undergraduate Research UR
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Business Courses

BUSI 100

Contemp Issues in Business&Entrep

This introductory course covers issues, problems, and opportunities that local and international businesses and entrepreneurs face in the contemporary world. Topics include organization and management of businesses and not-for-profits, reading and interpreting financial statements, quantitative decision-making tools, biographies of companies and their founders, ethical issues, and interactions between businesses and other segments of society.

Social and Behavioral Analysis SB
BUSI 110

Personal Finance

This course covers critical thinking and quantitative skills in making decisions regarding personal financial issues. Specifically, the issues include money management, budgeting, payroll, taxes, student/auto/house loans and how interest rates work, consumer credit, insurance, retirement and estate planning, and general financial security. The course includes extensive spreadsheet modeling and data analysis.

Social and Behavioral Analysis SB
BUSI 200

Principles of Accounting I

A study of the generally accepted accounting principles and procedures of accumulating, measuring, and interpreting financial data of a business enterprise for use in financial reporting and in managerial decision-making.

BUSI 210

Principles of Accounting II

A study of the generally accepted accounting principles and procedures of accumulating, measuring, and interpreting financial data of a business enterprise for use in financial reporting and in managerial decision-making. Prerequisite: BUSI 200.

BUSI 200.
BUSI 250

Principles of Statistics

A study of representations and interpretations of our contemporary world of data. Topics include descriptive statistics, graphical presentations, statistical estimation, hypothesis testing, and regression analysis. Emphasis is placed on applications to business data.

Quantitative Studies QS
BUSI 260

Non-Profit Management

This course covers analytical and decision-making skills necessary to manage Non-Profit organizations. Students study management issues related to human resources, operations, finances, facilities, ethics, and communications that are common to most organizations during the first part of the course. Students then study specialized areas of management related to Non-Profit organizations during the last part of the course. BUSI 260, BUSI 261, and BUS 262 are taught concurrently. Students may enroll in and earn credit for only one of these three courses. Prerequisites: BUSI 200 and BUSI 210

BUSI 200 and BUSI 210
BUSI 261

Sports Management

This course covers analytical and decision-making skills necessary to manage Sport organizations. Students study management issues related to human resources, operations, finances, facilities, ethics, and communications that are common to most organizations during the first part of the course. Students then study specialized areas of management related to Sport organizations during the last part of the course. BUSI 260, BUSI 261, and BUS 262 are taught concurrently. Students may enroll in and earn credit for only one of these three courses. Prerequisites: BUSI 200 and BUSI 210

BUSI 200 and BUSI 210
BUSI 262

Art Management

This course covers analytical and decision-making skills necessary to manage Art organizations. Students study management issues related to human resources, operations, finances, facilities, ethics, and communications that are common to most organizations during the first part of the course. Students then study specialized areas of management related to Art organizations during the last part of the course. BUSI 260, BUSI 261, and BUS 262 are taught concurrently. Students may enroll in and earn credit for only one of these three courses. Prerequisites: BUSI 200 and BUSI 210

BUSI 200 and BUSI 210
BUSI 280

IndSt:Global Business

An introductory study of political, cultural and economic international business environments with an emphasis on applications of multinational financial management, investments, accounting, and business planning. Prerequisites: One course from ECON 100, ECON 200, or ECON 210, and one course from BUSI 100 or BUSI 200.

One course from ECON 100, ECON 200, or ECON 210, and one course from BUSI 100 or BUSI 200.
BUSI 290

International Marketing

This course examines the marketing function and the execution of successful marting practices for both domestic and international markets. Using recent research and real world examples, the course will provide the student with an understanding of basic marketing concepts, fundamental practices, marketing terminology, and related technologies in the field.

BUSI 300

Intermediate Accounting I

A study of the conceptual framework of financial accounting and its implications in the measurement, analysis, recording, and reporting of information in financial statements. An emphasis is placed on revenue and expense recognition issues as well as asset and liability valuation concepts. Prerequisites: BUSI 200 and 210.

BUSI 200 and 210.
BUSI 310

Intermediate Accounting II

A study of the conceptual framework of financial accounting and its implications in the measurement, analysis, recording, and reporting of information in financial statements. An emphasis is placed on revenue and expense recognition issues as well as asset and liability valuation concepts. Prerequisites: BUSI 200, 210, and 300.

BUSI 200, 210, and 300.
BUSI 320

Taxation for Individuals

Federal Income Tax Law applicable to individuals and business enterprises with emphasis on tax determination and planning. Prerequisites: BUSI 200 and 210.

BUSI 200 and 210.
BUSI 330

Cost Accounting

A study of accounting systems and tools for product costing, organizational planning, control, and management decision making. Prerequisites: BUSI 200 and 210.

BUSI 200 and 210.
BUSI 340

The Law and Entrepreneurs

This course explores legal and practical issues related to entrepreneurs starting and owning a business, including topics such as: leaving a current job; organizing as a corporation, partnership or LLC; financing the business; relating with co-owners, other management and employees; buying or leasing business property; insurance issues; business contracts and collection issues; and e-commerce and current business topics. Enrollment is open to all majors.

BUSI 350

Business Law

Introduction to law, its relation to and effect on society, business, and the individual. It includes the study of contracts, agencies, personal property, law of sales, and commercial paper. This course may be taken for credit at the undergraduate or graduate level but not both.

BUSI 370

Auditing

Theory and procedures underlying auditorsโ€™ responsibilities in examining and reporting on financial statements of a business enterprise. Includes professional ethics, auditing standards, reports, internal control, and the selection, scope, and application of auditing procedures. Prerequisite: BUSI 300 or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

BUSI 300 or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
BUSI 390

Acct Info Sys & Database Mgmt

A study of accounting information systems with practical experience of using computerized database management techniques to manipulate financial information efficiently and to communicate it effectively. An emphasis is placed on using computerized controls to ensure data integrity in relational database management systems. Prerequisites: BUSI 200 and 210 or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

BUSI 200 and 210 or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
BUSI 410

Advanced Cost Accounting

A study of cost-benefit analyses and other management science techniques used in economic decision-making. Specific topics include management control systems, cost-volume-profit analysis, budgeting, cost estimation and allocation, capital budgeting, and linear programming. Prerequisite: BUSI 330. This course may be taken for credit at the undergraduate or graduate level but not both.

BUSI 330. This course may be taken for credit at the undergraduate or graduate level but not both.
Writing Level 2 W2
BUSI 497

Corporate Strategy-WII

Capstone course integrating the student's previous study of economics and business. The course will include a study of the theory and pplication of business strategies. Company strategy and performance will be evaluated through comprehensive case studies. Prerequisites: Senior standing and a declared major in the Department of Economics and Business.

Senior standing and a declared major in the Department of Economics and Business.
Special Projects SP
Writing Level 2 W2
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Master of Arts in Accounting

ECON 500

Econometrics and Forecasting

A study of multiple regression analysis and its use in the estimation, testing, and forecasting of economic phenomena and business relationships. Emphasis is placed on the application of statistical methods to actual economic and business data. Prerequisite: Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
ECON 530

Management Science

A study of mathematical modeling and problem solving applied to business issues. Topics include linear programming, integer programming, decision making under uncertainty, game theory, and inventory modeling. Prerequisite: Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
ECON 550

Managerial Economics

Application of the tools of economic theory and statistics to managerial decision making. Topics include demand analysis, production theory, quantitative cost analysis, market analysis, and the theory of investment. Prerequisite: Graduate standing or consent.

Graduate standing or consent.
ECON 570

Industrial Organization

The application of microeconomics to the problems of monopoly, oligopoly, restraints of trade, and other market imperfections. The course also focuses on the economic rationale for antitrust policy and regulation of public utilities. Prerequisite: Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
ECON 590

Economic Research

The purpose of this course is to mentor students to complete an independent and original economics research project on a topic of the studentโ€™s choosing. The class is conducted primarily as a seminar with major focus on the successful completion of a senior research thesis. Prerequisite: Graduate standing or consent.

Graduate standing or consent.
ECON 599

Independent Study

Students interested in independent studies in economics should contact the department chair. Prerequisite: Graduate standing or consent

Graduate standing or consent
BUSI 500

Taxation for Business Entities

Tax compliance and planning for corporations, partnerships, estates, and trusts. Prerequisite: Graduate standing or consent.

Graduate standing or consent.
BUSI 510

Advanced Cost Accounting

A study of cost-benefit analyses and other management science techniques used in economic decision-making. Specific topics include management control systems, cost-volume-profit analysis, budgeting, cost estimation and allocation, capital budgeting, and linear programming. Prerequisite: Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
BUSI 520

Seminar in Advanced Accounting

A study of contemporary financial accounting theory and practice focusing on issues related to consolidated financial statements, partnerships and other financial accounting topics. Prerequisite: Graduate standing or consent.

Graduate standing or consent.
BUSI 530

Govt & Non-Profit Accounting

Accounting and reporting for governmental units and organizations established as not-for-profit organizations. Prerequisite: Graduate standing or consent.

Graduate standing or consent.
BUSI 550

Business Law

Introduction to law, its relation to and effect on society, business, and the individual. It includes the study of contracts, agencies, personal property, law of sales, and commercial paper. Prerequisite: Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.

Graduate standing or consent. This course may be taken for credit at the undergraduate or graduate level but not both.
BUSI 570

Auditing

Theory and procedures underlying auditorsโ€™ responsibilities in examining and reporting on financial statements of a business enterprise. Includes professional ethics, auditing standards, reports, internal control, and the selection, scope, and application of auditing procedures. This course may be taken for credit at the undergraduate or graduate level but not both.

BUSI 580

Advanced Auditing

The study of investigative accounting, fraud detection, consulting, and litigation support activities undertaken in the forensic accounting field. Prerequisite: BUSI 370 or 570; graduate standing or consent.

BUSI 370 or 570; graduate standing or consent.
BUSI 585

IndSt:ForensicAcctg&Fraud Exam

This study of investigative accounting, fraud detection, consulting, and litigation support activities undertaken in the forensic accounting field. Prerequisite: BUSI 370/570 Auditing

BUSI 370/570 Auditing
BUSI 590

Acctg Info Sys & Database Mgmt

A study of accounting information systems with practical experience of using computerized database management techniques to manipulate financial information efficiently and to communicate it effectively. An emphasis is placed on using computerized controls to ensure data integrity in relational database management systems. Prerequisite: Graduate standing. This course may be taken for credit at the undergraduate or graduate level but not both.

Graduate standing. This course may be taken for credit at the undergraduate or graduate level but not both.
BUSI 598

Internship

Students interested in an internship in business should contact the department chair. Prerequisite: Graduate standing or consent

Graduate standing or consent
BUSI 599

Independent Study

Students interested in independent studies in business should contact the department chair. Prerequisite: Graduate standing or consent

Graduate standing or consent
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