Economics and Business

Economics & Business

Economics and BusinessToday, business needs leaders with vision and persons who can think analytically. The B.A. degree with a major in economics and business from Hendrix College meets these needs by providing both a liberal arts education and specialization in economics and business.

The department of Economics and Business offers a major in Economics and Business, a major in Economics, and a major in Accounting.  Available minors are Business, Economics, and Accounting.  A fifth year Master of Arts in Accounting is available for students wishing to pursue the CPA designation.

At Hendrix, a study of business is achieved through the study of the following:

  • Accounting- A knowledge of the financial aspects of a business enterprise is obtained by exploring conceptual underpinnings of accounting standards, practical application to real transactions and companies, and the broader context of business entities and the economy. Gaining an understanding of complex transactions is the necessary first step in determining how those transactions should be captured, measured, analyzed, and reported.
  • Economics - Economics is the study of how individuals, firms, governments, and households make choices when faced with scarcity. Because scarcity is a fact of life, students of economics are armed with the analytical tools to better understand the world around them. An analysis of the forces of supply and demand in both aggregate and individual markets contributes to a greater understanding of the factors that influence the value of goods and services and the wealth of nations and individuals. Economic majors at Hendrix find themselves well prepared for graduate or professional school, careers in business, banking, or the government. Majors explore important and interesting topics like profit maximization, tax policy and national debt, firm structure, international trade, the role of government in the economy, and the choice of job and how much to work.
  • Finance - An understanding of the capital structure of a business enterprise, rates of return on investments, and the financial management of resources enhances a person's overall business acumen. At Hendrix, the area of finance is studied within the accounting and economics courses, as well as in specialized courses in financial management and investments.
  • Statistics and Quantitative Methods - Quantitative analysis of financial data is necessary for budgeting, forecasting, and managerial decision-making. Computer software packages, such as Excel, SPSS, STATA, and LINGO are employed throughout the curriculum.
  • Business Law - An understanding of contracts, negotiable instruments, the court system, and the legal aspect of business is essential in today's society.