Economics Major, Business Economics Concentration (B.A.) - Undergraduate - 2013 University Catalog

You are viewing the 2013 University Catalog. Please see the newest version of the University Catalog for the most current version of this program's requirements.

The Bachelor's of Arts in Economics with a concentration in Business Economics provides a mix of training in economics and business administration. The primary emphasis is on economics, but the student also acquires a solid background in finance, accounting and management.

A minimum of 120 semester hours of coursework is required for the baccalaureate degree with a minimum 2.0 overall GPA, and a minimum 2.0 major GPA. However, more than 120 semester hours may be required depending upon the major field of study. In addition to the major requirement outlined below, all university students must fulfill the set of applicable to their degree.


BUSINESS ECONOMICS CONCENTRATION

Complete 54 semester hours including the following 4 requirement(s):

  1. BUSINESS ECONOMICS MAJOR COURSES

    Complete the following 10 courses:

    ACCT 201 Fundamentals of Financial Accounting (3 hours lecture) 3
    ACCT 202 Fundamentals of Managerial Accounting (3 hours lecture) 3
    ECON 101 Applied Macroeconomics (3 hours lecture) 3
    ECON 102 Applied Microeconomics (3 hours lecture) 3
    ECON 207 Intermediate Microeconomic Analysis (3 hours lecture) 3
    ECON 208 Intermediate Macroeconomic Analysis (3 hours lecture) 3
    ECON 438 Advanced Seminar in Economics (3 hours seminar) 3
    FINC 321 Fundamentals of Finance (3 hours lecture) 3
    INFO 270 Statistics for Business (3 hours lecture) 3
    MGMT 231 Management Processes (3 hours lecture) 3
  2. BUSINESS ECONOMICS - ECONOMICS ELECTIVES

    Complete 9 semester hours from the following:

    ECON 204 Real Estate Principles & Practice (3 hours lecture) 3
    ECON 301 Money and Banking (3 hours lecture) 3
    ECON 305 Commercial Real Estate: Theory and Practice (3 hours lecture) 3
    ECON 308 Public Finance (3 hours lecture) 3
    ECON 311 Labor Economics (3 hours lecture) 3
    ECON 312 Business Cycles and Forecasting (3 hours lecture) 3
    ECON 401 Financial Institutions (3 hours lecture) 3
    ECON 402 International Economics (3 hours lecture) 3
    ECON 403 Comparative Economic Systems (3 hours lecture) 3
    ECON 420 Econometrics (3 hours lecture) 3
  3. BUSINESS ECONOMICS - BUSINESS ELECTIVES

    Complete 9 semester hours from the following:

    ACCT 301 Intermediate Accounting I (3 hours lecture) 3
    ACCT 307 Cost Accounting (3 hours lecture) 3
    FINC 322 Capital Budgeting Management (3 hours lecture) 3
    FINC 326 Investment Principles and Portfolio Theory (3 hours lecture) 3
    FINC 327 International Financial Management (3 hours lecture) 3
    FINC 430 Futures/Options, and other Derivatives (3 hours lecture) 3
    INFO 290 Technology in Business (3 hours lecture) 3
  4. ECONOMICS/BUSINESS ECONOMICS COLLATERALS

    Complete the following 2 courses:

    INFO 173 Spreadsheet Modeling for Business Decisions (3 hours lecture) 3
    MATH 114 Mathematics for Business II: Calculus (3 hours lecture) 3

Course Descriptions:

ACCT201: Fundamentals of Financial Accounting (3 hours lecture)

This is an introductory course in financial accounting from a preparer perspective. The theoretical foundation and basic accounting terminology is addressed. The course will enable the students to perform the entire accounting cycle from analyzing basic accounting transactions to the preparation of the basic financial statements including the balance sheet, income statement, statement of stockholders' equity and statement of cash flows. The course will enable students to critically analyze accounting information. 3 sh.

Prerequisites: ENWR 105 or HONP 100. For Accounting Majors only except by permit from the Department Chair.

ACCT202: Fundamentals of Managerial Accounting (3 hours lecture)

The course covers the use of accounting information for internal planning, controlling and decision making. The course introduces basic concepts of management accounting including cost classifications, product costing, cost-volume-profit analysis, operational budgeting, standard setting and performance evaluation, decentralization, relevant costs and decision making. 3 sh.

Prerequisites: ACCT 201. For Accounting Majors only except by permit from the Department Chair.

ACCT301: Intermediate Accounting I (3 hours lecture)

This course builds on material presented in Fundamentals of Financial Accounting. Students acquire an improved understanding of the composition and significance of various segments of income statements and balance sheet, particularly related to current assets and various income statement revenue and expense items leading to an improved understanding of the preparation of various aspects of the financial statements as well as an enhancement of their ability to critically evaluate financial statements. 3 sh.

Prerequisites: ACCT 201; Accounting major students only except by permit from the Department Chair.

ACCT307: Cost Accounting (3 hours lecture)

This course examines the development of theory, concepts and techniques for providing, using and reporting cost information within the organization. Topics discussed include process costing, activity-based costing and management, cost allocation, inventory management and capacity analysis, Theory of Constraints management and control of quality costs, transfer pricing, profitability analysis, tactical decision making and corporate social responsibility. 3 sh.

Prerequisites: ACCT 202; Accounting major students only except by permit from the Department Chair.

ECON101: Applied Macroeconomics (3 hours lecture)

The course introduces undergraduate students to the macro economy of the United States of America. Students learn how to apply the mechanism needed for the achievement of an optimal allocation of resources, price stability, full employment level of national income and long-term growth. In addition, they learn to analyze the macroeconomic data and the implications of fiscal and monetary policies. 3 sh.

ECON102: Applied Microeconomics (3 hours lecture)

In this course, undergraduate students will learn about the organization and operation of the American economy for the production and distribution of goods and services. Students learn the mechanism behind the pricing of products and factors of production in market situations varying from competition to monopoly. In addition, they learn to analyze microeconomic data and apply the abstract theoretical models into real life situations. 3 sh.

ECON204: Real Estate Principles & Practice (3 hours lecture)

An introduction to the economics of the real estate business, including the general practices and the language of real estate. Providing a basic knowledge of the real estate business the course covers such topics as the physical, legal, locational and other characteristics of real estate. The course emphasizes the market evaluation and financing of real estate, the nature of real estate markets and the regional and local factors that may influence real estate values. Ethical issues are emphasized throughout the course. 3 sh.

Prerequisites: ECON 101 and ECON 102 and MKTG 240. Major within School of Business.

ECON207: Intermediate Microeconomic Analysis (3 hours lecture)

The basic determinants of market demand. Input-output relationships in determining cost structure. Determination of prices received by resource owners in the productive process. Theory of the firm and pricing in different types of market organization with varying degrees of competitive conditions. 3 sh.

Prerequisites: ECON 101 and 102. Major within School of Business.

ECON208: Intermediate Macroeconomic Analysis (3 hours lecture)

The factors comprising aggregate demand and how they interact to determine the level of employment, output and the price level; the role of monetary and fiscal policy. 3 sh.

Prerequisites: ECON 101 and 102. Major within School of Business.

ECON301: Money and Banking (3 hours lecture)

An analysis of the economic role of money and credit in our economy with primary emphasis on federal reserve and treasury operations. 3 sh.

Prerequisites: ECON 101 and 102. Major within School of Business.

ECON305: Commercial Real Estate: Theory and Practice (3 hours lecture)

By developing an understanding of the relevant market structures, institutional frameworks (e.g., tax laws, social regulations, monetary policy, etc.) and appropriate analytical tools, this course provides students with an operational knowledge of investing in commercial real estate. The analysis focuses on real world examples and emphasizes the use of computer-based programs. 3 sh.

Prerequisites: ECON 204. Major within School of Business.

ECON308: Public Finance (3 hours lecture)

The impact of governmental expenditures, taxes and debt operation on resource allocation, income distribution, economic stabilization and economic growth. 3 sh.

Prerequisites: ECON 207 or 206. Major within School of Business.

ECON311: Labor Economics (3 hours lecture)

The determinants of wages in the organized and unorganized markets; a historical survey and analysis of the principal institutions and central processes in the labor and manpower areas; an examination of current issues in labor relations. 3 sh.

Prerequisites: ECON 207 or 206. Major within School of Business.

ECON312: Business Cycles and Forecasting (3 hours lecture)

Fluctuations in economic activity which characterize modern industrial economies. Definitions, descriptions and statistical measurement of business cycles are presented along with theories describing the causes of the cycles. Practical application of forecasting techniques to predict the course of future economic and business activity. 3 sh.

Prerequisites: ECON 203, or INFO 270, or INFO 271 and ECON 208. Major within School of Business.

ECON401: Financial Institutions (3 hours lecture)

The structure and operation of financial institutions, their role in the economy and in the money and capital markets. The techniques and objectives of monetary policy and its effect on financial institutions. 3 sh.

Prerequisites: ECON 208 or 301. Major within School of Business.

ECON402: International Economics (3 hours lecture)

The how, why and consequences of the movement of goods, services and factors of production in international exchange and an examination of the financial arrangements used to facilitate trade. 3 sh.

Prerequisites: ECON 101 and 102. Major within School of Business.

ECON403: Comparative Economic Systems (3 hours lecture)

The economic systems of planned and mixed economies with special emphasis on the Soviet Union, China, the United Kingdom, the Scandinavian countries and the United States. 3 sh.

Prerequisites: ECON 101 and ECON 102. Major within School of Business, Russian Area Studies Minor.

ECON420: Econometrics (3 hours lecture)

An introduction to the techniques of applied economic (social science) research. Examination of the tools necessary for applied economic research and methods for dealing with certain problems inherent in economic data. The primary emphasis will be on the application of the techniques to economic data. 3 sh.

Prerequisites: ECON 101, and ECON 102, and ECON 203, or INFO 270, or INFO 271. Major within School of Business.

ECON438: Advanced Seminar in Economics (3 hours seminar)

A seminar designed to integrate economic theory, quantitative tools, and institutional knowledge in a series of applied issues. Students are required to undertake a number of specific oral and written projects that describe their understanding of key elements within the discipline. This course serves as a capstone for Economics students. Meets the University Writing Requirement for majors in Economics and Business Administration with a Concentration in Economics. 3 sh.

Prerequisites: ECON 206 or ECON 207; ECON 208; INFO 270; seniors only; Economics (ECON and ECOE), Economics w/conc: Business Economics (ECBE) and Business Administration w/conc: Economics (BAEC) majors only.

FINC321: Fundamentals of Finance (3 hours lecture)

Financial statements and financial forecasting. Introduction to risk, return, and value. Introduction to working capital management, capital budgeting, optimum capital structure, and dividend policy. 3 sh.

Prerequisites: INFO 270 or INFO 271; and ECON 101; and ACCT 201; and major within the School of Business.

FINC322: Capital Budgeting Management (3 hours lecture)

Analysis of various investment criteria, especially net present value and internal rate of return. Risk in capital budgeting, capital budgets and performance evaluation, stressing the distinction between accounting and financial criteria. Application of concepts and techniques to such issues as leasing, mergers and acquisitions. 3 sh.

Prerequisites: FINC 321; major within the School of Business.

FINC326: Investment Principles and Portfolio Theory (3 hours lecture)

A review of risk analysis and methods of valuing, fixed-income and equity instruments, the efficient frontier, portfolio theory, the capital asset pricing model and an introduction to option and futures market. 3 sh.

Prerequisites: FINC 321; major within the School of Business.

FINC327: International Financial Management (3 hours lecture)

Introduction to multinational business finance. Foreign exchange markets and exchange rate forecasting. Balance of payment accounts, measures of surplus or deficit and their relevance to financial planning. International financial markets and international banking. Import and export financing. Positioning of funds. 3 sh.

Prerequisites: FINC 321; major within the School of Business.

FINC430: Futures/Options, and other Derivatives (3 hours lecture)

This course introduces students to derivative instruments including options, futures and swaps. Definitions, concepts, and strategies are explained. Valuation methods are presented. This course also discusses different hedging strategies. 3 sh.

Prerequisites: FINC 326; major within the School of Business.

INFO173: Spreadsheet Modeling for Business Decisions (3 hours lecture)

This course will emphasize analysis and solutions to contemporary business problems through the use of current version of Microsoft Excel. Recognizing that the business world is technology-driven, affecting people both professionally and personally, extensive knowledge of application-based software is essential as the language of business. Students will be introduced to business decision modeling processes to strengthen their logical and analytical skills. Strong emphasis of the course will be to use Excel as the basis for managerial decision support through the analysis of contemporary business case problems. Students will apply the appropriate functions and features of Excel to solve business cases. The course will also emphasize oral presentation and written reports on business processes used in case solutions in order to further strengthen students' communication skills. 3 sh.

INFO270: Statistics for Business (3 hours lecture)

This course is a comprehensive introduction to the application of modern statistical methods. Topics covered include: descriptive statistical methods of data analysis; an introduction to probability theory; an introduction to discrete and continuous probability distributions and mathematical expectation; classical statistical inference - sampling distributions, confidence interval estimation, and hypothesis testing for means and proportions; regression and correlation; and an introduction to time series analysis. Spreadsheet software is integrated in all topics. Cross listed with Mathematical Sciences, MATH 270. 3 sh.

Prerequisites: MATH 114. May not be taken for graduation credit by College of Science and Mathematics majors.

INFO290: Technology in Business (3 hours lecture)

This course provides an introduction to the impacts of information systems on business. The course focuses on business processes and information needs in organizations, the roles of information systems in addressing these needs, and ultimately, providing support for the tactical and strategic directions of the business. The building blocks of information systems (hardware, software, networking, Internet, cloud computing, systems analysis, security, e-business, database systems, enterprise systems, etc.) are presented with an emphasis on how each of these components impacts business processes. 3 sh.

Prerequisites: INFO 173.

MATH114: Mathematics for Business II: Calculus (3 hours lecture)

The general aim of this course is to introduce the students to the basic skills of differentiation, integration, maxima-minima problems and several of the other applications of calculus, including modeling, especially models in business and economics. Computer assisted including lecture, individual and small group tutoring in Mathematics Computer Laboratory. 3 sh.

Prerequisites: MATH 100 or placement through the 精品成人福利在线 University Placement Test (MSUPT) or a satisfactory score on department's Business Calculus Readiness Test. (Students who did not satisfy the course prerequisite at MSU and students who received a grade of D-, D, or D+ in the prerequisite course taken at MSU are required to demonstrate competency on the department's Business Calculus Readiness Test.)

MGMT231: Management Processes (3 hours lecture)

To provide undergraduate students a review of classical and modern approaches to the managerial process as it relates to the manager's functions of planning, organizing, communication, motivation, leading, controlling, and managing change. Emphasizing new forces in the managerial environment such as workplace diversity and economic globalization, these reviews will be tied to the open-system model and the contingency approach as overall frameworks for understanding organizations and management. 3 sh.

Prerequisites: ENWR 105 or HONP 100.

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