Course Descriptions

Accounting (ACCT) Courses

221 – Accounting I – An introduction to accounting practices and principles including preparation of financial statements from journals and ledgers. Students should plan to continue with ACCT 222 and should expect to complete many time-consuming homework assignments. Students should be able to prepare proper financial statements from accounting records. Not open to freshmen. Three hours. 

222 – Accounting II – A continuation of ACCT 221. Major topics include corporation organization and stockholders’ equity, corporation operations to include earnings per share and dividends, income taxes, and cost accounting systems. As in ACCT 221, primary focus is on theoretical concepts and the procedures for gathering, reporting, and analyzing business financial data. Not open to freshmen. Prerequisite: ACCT 221 and BUSN 101. Three hours. 

321 – Intermediate Accounting I – An intensive study of the generally accepted accounting principles for asset valuation, income measurement, financial statement presentation for business organizations, and the process through which these principles evolve. Prerequisites: ACCT 221-222. Three hours. 

322 – Intermediate Accounting II – A continuation of ACCT 321, with emphasis on accounting for the equities of a firm’s investors and creditors and the in depth analysis of financial statements. Special problem areas in financial accounting include accounting for leases, pensions, and income taxes. Prerequisites: ACCT 221-222, 321. Three hours. 

362 – Cost Accounting – A course that centers on managerial planning and control functions, mainly in the context of a manufacturing organization. The scope of the material covered includes cost accumulation methods; the reporting and departmentalization of factory overhead for product costing and cost control; the planning of sales, costs, and profits; and analytical techniques of budgeting. Prerequisites: ACCT 221-222 or permission of the instructor. Three hours. 

367 – Auditing – A study of auditing standards and procedures. Major topics include professional auditing standards, audit reports, ethics, legal requirements, audit programs, working papers, and internal controls. Prerequisites: ACCT 221-222 or permission of the instructor. Three hours.

372 – Tax Accounting – A study of taxation with primary emphasis on the theory, structure, measurement, and significance of the federal income tax insofar as it affects the decision-making process of households and businesses. Attention is also paid to the development of tax planning techniques and to the issues surrounding tax compliance problems. Prerequisites: ACCT 221- 222 or permission of the instructor. Three hours. 

375 – Government and Not-for-Profit Accounting - This course studies the role of accounting in the management of resources entrusted to government and not-for-profit entities, including accounting and reporting standards of accounting in municipalities and not-for-profit entities such as hospitals, charitable and health organizations, and colleges and universities. Prerequisites: ACCT 221-222. Offered every three years. Three hours. 

385 – Accounting Information Systems – An introduction to the subject of information system’s role in accomplishing the objectives of financial accounting, tax accounting and auditing, includes an understanding of basic control structure for specific accounting cycles and computerized transaction processing systems. Analyzes controls for manual and computerized systems, including database systems. Prerequisite: ACCT 222. Offered every 3 years. Three hours. 

421 – Advanced Accounting – The study of complex financial accounting issues including business combinations, consolidated financial statements, bankruptcies, and partnerships. Prerequisites: ACCT 221-222, 321 and ECON 201-202. Offered every three years. Three hours. 

450-451 – Internship in Accounting – This course provides an opportunity for students to gain practical experience in the field of accounting by using the principles, concepts, and methods covered in regular course offerings. The students will serve as interns in organizational settings where accounting practices and principles are routinely performed. Prerequisites: BUSN 321 plus one accounting elective, departmental approval, junior or senior status, and at least a 2.25 GPA. Priority will be given to students with a major or minor in accounting. Application required; see Internship Program. Three hours. 

481-482 - Selected Topics in Accounting – This course is designed to investigate a field of specialized analysis in accounting. The topics considered will change with each offering. Prerequisites: Permission of instructor. Offered as needed. Three hours.

491-492 – Senior Independent Study – This course of study is usually based upon successful completion of the junior independent study course or courses and is done under the guidance of a member of the department. It should bridge the gap between undergraduate and graduate studies in accounting, although it can be of significant value for a student not going on to graduate work who wants to know more about the discipline. At least a 3.25 cumulative GPA and approval by the curriculum committee are required. Prerequisite: senior standing. Offered as needed. Three hours each.

Business (BUSN) Courses

101 – Success Strategies in Accounting, Business and Economics – Seminar designed to provide skills and direction enabling Economics, Business and Accounting majors to successfully chose and navigate through a major in the department of Economics, Business and Accounting. Students will be introduced to the commonalities and differences among the department’s majors, and introduced to the principle resources and skills needed to for scholarship and competent research in upper level courses in Economics, Business and Accounting. Skills and resources introduced will include library resources, introductory spreadsheet and presentation skills. The Department recommends this course be taken in conjunction with one of the students first major core classes, no later than the junior year as competence in the topics presented is expected in upper level courses. One Hour.

111 – Foundations in Business – An introductory course intended to provide students with a basic understanding of business and economics and the role the fields play in American society. The course offers an overview of the major functional areas of business with special emphasis on relationships to current events. This course is recommended for non-majors or students considering a major in the department, however does not count on the departmental major. This course will satisfy one Social Science Area of Knowledge requirement. Three hours.

226 – Business Law – An introduction to basic legal concepts applicable to ordinary commercial transactions with emphasis on the uniform commercial code as it relates to contracts, agencies, and the several related types of business organizations. Students are expected to develop the ability to read legal cases and abstract the essential legal precedents for establishing responsibility. Not open to Freshmen. Three hours.

310 – International Business Concepts – A study of the various environmental forces that affect business decisions in the international market. Topics include international trade, monetary systems, and foreign social and political forces. Methodological concepts are presented in order to effectively analyze these topics. Not open to freshmen. Three hours.

312 – Organizational Communication – This course investigates the communication processes within an organization. Topics include organizational communication theory and research and methods for analysis of communication systems within and between organizations. Multiple models of communication are considered, as well as the varying impacts of communication channel choice and how messages are perceived. Pre- requisite: BUSN 313 or 343 or COMM 215. Cross-listed with COMM 312. Three hours.

313 – Organizational Behavior/Organizational Psychology – This course applies psychological and organizational theories, models, and research toward developing managerial competencies needed to analyze, understand, predict, and guide individual, group, and organizational behavior. Emphasis is placed on viewing the organization as a social phenomenon. Specific topic areas include: group dynamics, communication, conflict and negotiation, motivation, leadership, and organizational culture. Not open to Freshmen. Cross-listed with PSYC 343. Prerequisite: BUSN 101. Three hours.

336 – Financial Management – An introduction to the major concepts and principles in corporation finance. Emphasis is placed on an analysis of the acquisition of funds from alternative sources and the allocation of those funds within an enterprise. Major topics include taxation, financial analysis and planning, working-capital management, capital budgeting and capital structure, and financial instruments and markets. Prerequisites: ACCT 221-222, MATH 111 (or 113), ECON 202. Three hours.

337 – Intermediate Financial Management – An advanced treatment of theory as applied to financial management. Emphasis on financial decision making involving capital structure and long-term financing, capital budgeting, and dividend policy of the corporation. Prerequisite: BUSN 336. Offered alternate years. Three hours.

342 – Project and Design Management – This course applies concepts and best practices of project management to product and process design. Drawing from traditional production management principles and industrial design, students will apply contextual research methods to the construction of models while adapting to specifications, budgets, and quality constraints for projects. A studio format facilitates a semester-long project, enabling students to apply theory to the creation of 2-D and 3-D models, culminating in a piece to add to their individual portfolio. Prerequisite: instructor permission. Cross-listed with STAR 342. Three hours.

343 – Operations Management – This course examines the role of a production manager responsible for planning, organizing, and controlling the resource conversion system of a firm. Models are used to determine factory layouts, job designs, and production schedules as well as to monitor inventory and production quality requirements. Emphasis is placed on mathematical modeling with reliance on Excel spreadsheets. Not open to Freshmen. Prerequisite: BUSN 101. Three hours.

370 – International Finance – This course studies international monetary and financial relationships at both the country level and the level of the firm. In today’s interdependent world, a knowledge of finance at the international level has become an important component in the education of the next generation of economists and business people. Topics covered include exchange rates, international capital markets, monetary arrangements, foreign exchange risk, and interest rate policy. Prerequisite: ECON 201. Not open to freshmen. Three hours.

380 – Marketing Analysis – A study of the structure and functions of the systems of marketing and an analysis of marketing techniques. Students will be expected to make a primary analysis of basic marketing problems and offer some solutions. Prerequisite: BUSN 111 or 313 or 343. Three hours.

383 – Britain in the International Economy – International trade theory and finance with particular emphasis on the development of the European Union. General theory of economic integration is examined relative to Europe’s economic development, including trade diversion and trade creation with reference to such forms as free trade, customs unions, common markets, and economic unions. The theory of optimal currency is explored with special reference to the EU’s use of the EURO. The history of the origins and institutions of the EU will be covered. Selected industry tours included. Prerequisite: ECON 201 or instructor permission. Counts on majors in economics/business, economics, and international studies. Offered January term. Cross-listed with ECON 383. Three hours.

390 – The Industrial Revolution and Early Management in Great Britain – This course looks at the development and consequences of the Industrial revolution in Great Britain from economic, sociocultural and technological perspectives. In addition to various readings, students will visit several sites in England and explore the primary question of why the industrial revolution occurred, why it began in England, and how it has influenced the modern progression of management. A special focus of emphasis will be on specific industries that were created or significantly changed through industrialization. Offered January term as a travel course. Three hours.

425 – Strategic Management – A capstone course affording students an opportunity to tie together their exposure to the concepts embodied in economics, marketing, finance, management theory, and the behavioral and social sciences and to develop an understanding of how these concepts can be incorporated into real world situations within an organization. Attention is focused on the strategic planning and policy-making functions. Prerequisites: BUSN 313 or 343 and ACCT 221. Open to seniors only. Three hours.

436 – Investments and Securities Analysis – This course provides an in-depth study of investments, securities analysis, and portfolio management. Through a rigorous and comprehensive review of a variety of empirical studies, students will explore the modern developments in this relevant area of financial theory. Following background development, topics of study will include capital market theory and efficiency, valuation of pricing and portfolio theory, and financial derivatives. Prerequisite: BUSN 336 or ECON 361. Offered alternate years. Three hours.

450-451 – Internship in Economics and Business – The course provides an opportunity for students to gain practical experience in the field of economics and business using the principles, concepts, and methodology covered in regular course offerings. Students may serve as interns in such places as banks and other depository institutions, manufacturing firms, brokerage houses, and government agencies. Emphasis is placed on the idea of learning while in a work environment – not on working for its own sake. Prerequisites: departmental approval, junior or senior status and at least a 2.25 GPA. Application required; see Internship Program. Cross-listed with ECON 450-451. Three hours each. Staff.

481-482 – Selected Topics in Business – This course is designed to investigate a field of specialized analysis in business. The topics considered will change with each offering. Prerequisites: Permission of instructor. Offered as needed. Three hours each.

491-492 – Senior Independent Study – This course of study is usually based upon successful completion of the junior independent study course or courses and is done under the guidance of a member of the department. It should bridge the gap between undergraduate and graduate studies in business, although it can be of significant value for a student not going on to graduate work who wants to know more about the discipline. At least a 3.25 cumulative GPA and approval by the curriculum committee are required. Prerequisite: senior standing. Offered as needed. Three hours each.

Study Abroad course offered at Wroxton College in England

IBUS2201 – Fundamentals of International Business – The first half of the course depicts the economic background to transnational business, including inter- national trade, exchange rates, and sources of capital. In the second half, operational aspects of multinational corporations are considered and strategies for maximizing opportunities and minimizing risks in international business are outlined. Students may receive credit for either this course or BUSN 310, but not both. Three hours.

Economics (ECON) Courses 

201 – Principles of Economics-Micro – The emphasis is primarily micro. Topics covered include elasticity of supply and demand, market structures, price and output determination, price and employment determination, comparative advantage, balance of payments, issues in international trade, and finance. This course will satisfy one Social Science Area of Knowledge requirement. Three hours. Staff.

202 – Principles of Economics-Macro – An introductory treatment of the basic concepts, methodology, and analytical tools that relate to the operation of a modern economic system. The emphasis is primarily macro. Topics covered include supply and demand analysis, economic activities of government, national income accounting, employment theory, commercial banking, monetary and fiscal policy, and economic growth. Prerequisite: ECON 201. Three hours. Staff.

312 – Advanced Statistics for Economics and Business –

A course that deals with the statistical techniques used to analyze economic and business data.  Specific emphasis will be placed on analyzing data using graphical and numerical techniques, particularly focusing on confidence intervals and hypothesis testing and integrating computer software into these analyses. Regression analysis using ordinary least squares will be introduced as well as using confidence intervals and hypothesis testing of coefficients.  More advanced regression analysis techniques will be covered in Econometrics.  Note: this course is a pre-requisite for econometrics.  Prerequisites: ECON 201-202, MATH 111 or 113.  Three hours. Fennell.

323 – Intermediate Microeconomic Theory – A study of traditional price theory. The course emphasizes the development and use of tools that permit analysis of several different types of product and resource markets. A major theme is efficiency in resource allocation and major topics include demand theory, indifference curve analysis, derivation of costs, pricing behavior, and resource employment and prices. The course also integrates simple mathematical techniques with economic analysis. Prerequisite: ECON 201. Three hours. Staff.

324 – Intermediate Macroeconomic Theory –

This course is designed to provide students with a structured and analytically sound understanding of key issues in macroeconomics, including economic growth, unemployment, inflation, and business-cycle fluctuations.  Monetary and fiscal policies are discussed.  Along the way, students will also gain exposure to modeling techniques that are at the heart of modern macroeconomic theory.  Prerequisites: ECON 201- 202. Three hours. Staff.

340 – Urban Economics – This course applies the analytical tools of microeconomics to model the spatial and economic organization of cities and metropolitan areas. The model is then used to study issues facing cities such as urban transportation, housing, poverty and segregation, and urban public finance. Prerequisites: ECON 201-202, 323. Offered alternate years. Three hours. Lang.

350 – Environmental Economics – This course studies the relationships between the environment and our economic and political systems. Economics can assist in identifying circumstances that give rise to environmental problems, in discovering causes of these problems, and in searching for solutions. The notion of inter temporal economic efficiency and the effect that property rights, externalities, and regulation have on efficiency will be covered. In addition, specific environmental problems, such as population growth, natural resource allocation, pollution control, and sustainable development, will be examined with a strong emphasis on policy analysis. Prerequisite: ECON 201. Offered alternate years. Three hours. Lang.

357 – Public Finance – A study of the economic behavior of the public sector with reference to taxing, spending, borrowing, and managing the public debt. Students are expected to be able to analyze the effects of government taxes and expenditures on resource allocation, stabilization, and distribution. Additional topics include an analysis of government regulation, externalities, and benefit-cost analysis. Prerequisites: ECON 201-202, 323. Offered every three years. Three hours. Staff.

361 – Money and Banking – A course that examines the critical role played by central banks, commercial banks and other financial institutions. It encompasses institutional description, model building and monetary theory and policy. Particular emphasis is placed on an analysis of several financial instruments and markets, present value, risk, diversification, bank management and financial system regulation. Prerequisites: ECON 201-202. Three hours. Staff.

370 – Economic Justice – An historical examination of the major conceptions of economic justice primarily in the Western world. Major ethical schools of thought include the Socratic/Platonic/Aristotelian, the Judeo-Christian, and the Enlightenment school of Locke, Rousseau, Kant, Mill and Marx. Finally, contemporary moral theorists such as John Rawls and Robert Nozick will be used to compare/contrast this legacy of ethical thought with the orthodox models of economic thought, as represented in the writings of economists such as Adam Smith, John Maynard Keynes, and Milton Friedman. Students may not receive credit for both ECON 370 and HONR 240. Three hours. Staff.

380 – International Economics – A study of international economic relationships in theory and practice. The course emphasizes the analysis of the gains from international trade and the costs of tariff and non-tariff barriers, as well as the effects of various methods of protection on the domestic economy. Also included is a study of international financial arrangements, balance of payments problems, and an analysis of exchange rates and international capital flows. Prerequisites: ECON 201-202, 323. Three hours. Staff.

382 – International Economic Development –

This course provides students with a broad introduction to the economic analysis of, problems of, and policies to improve, economic development in less developed countries.  Students will use economic theories and empirical evidence to compare and contrast different growth experiences, development levels, and economic development challenges across countries.  Particular focus will be given to programs introduced in developing countries to instigate development.  Prerequisites: ECON 201-202.  Three hours. Fennell.

383 – Britain in the International Economy – International trade theory and finance with particular emphasis on the development of the European Union. General theory of economic integration is examined relative to Europe’s economic development, including trade diversion and trade creation with reference to such forms as free trade, customs unions, common markets, and economic unions. The theory of optimal currency is explored with special reference to the EU’s use of the EURO. The history of the origins and institutions of the EU will be covered. Selected industry tours included. Prerequisite: ECON 201 or instructor permission. Counts on majors in economics/business, economics, and international studies. Offered January term. Cross-listed with BUSN 383. Three hours. Lowry and Staff.

391-392 – Junior Independent Study – An independent study under the guidance of a member of the department. At least a 3.25 cumulative GPA and approval by the curriculum committee are required. Three hours each.

440 – Contemporary Issues in Economics – A course in seminar format intended to provide further insight into economic theory and policy. Students will be exposed to the current literature of economic analysis through readings and oral presentations. Prerequisites: ECON 201-202, 323-324. Three hours. Lang.

442 – Econometrics –

A continuation of Econ 312 which focuses on the use of regression analysis to derive measurements of empirical relationships in economics.  Focus will be on understanding the impact of multicollinearity, omitted variable bias, and heteroskedasticity. Advanced topics include instrumental variables, limited dependent variables, and techniques for panel and time-series data. Use of the computer software STATA will be an integral part of the course.  Prerequisites: ECON 201- 202, 312. Three hours.  Staff.

445 – Time Series Analysis and Forecasting – An introduction to a wide variety of modern techniques of forecasting economic and business data that are time-related. The student will gain hands-on experience in utilizing modern computer techniques to perform required statistical estimation procedures. Prerequisites: ECON 201-202, 312. Offered alternate years. Three hours.

450-451 – Internship in Economics – The course provides an opportunity for students to gain practical experience in the field of economics and business using the principles, concepts, and methodology covered in regular course offerings. Students may serve as interns in such places as banks and other depository institutions, manufacturing firms, brokerage houses, and government agencies. Emphasis is placed on the idea of learning while in a work environment – not on working for its own sake. Prerequisites: departmental approval, junior or senior status and at least a 2.25 GPA. Application required; see Internship Program. Cross-listed with BUSN 450-451. Three hours each.

481-482 – Selected Topics in Economics – This course is designed to investigate a field of specialized analysis in economics. The topics considered will change with each offering. Prerequisites: ECON 201-202 and 323, or permission of instructor. Offered as needed. Three hours each.

491-492 – Senior Independent Study – This course of study is usually based upon successful completion of the junior independent study course or courses and is done under the guidance of a member of the department. It should bridge the gap between undergraduate and graduate studies in economics, although it can be of significant value for a student not going on to graduate work who wants to know more about the discipline. At least a 3.25 cumulative GPA and approval by the curriculum committee are required. Prerequisite: senior standing. Offered as needed. Three hours each.

496-498 – Senior Project – A student-selected and faculty-approved subject of independent study constitutes the project. Frequent conferences are held with the student, and a three-person faculty committee holds an ex- amination upon completion of the project. The student is expected to develop the ability to formulate a topic, perform the research, and compose a written report. Open to seniors only each semester with departmental approval. Six hours.

Study Abroad Course offered at Wroxton College in England

ECON3022 – European Economic Integration – This course examines the economic growth and development of Europe in the context of economic regionalism and integration. Emphasis is placed on the evolution of institutions, policies and processes since 1945 that have brought Europe to where it is today. Three hours.

Last updated: 1/10/2016