Business Administration & Economics

Major Description

The Business Administration and Economics major provides quantitative, analytical, and creative skill necessary for careers in international business, accounting, law, as well as service in national and international agencies.

The Business/Economics major fosters an understanding and appreciation of economic forms of explanation, training students in economic theory and policy. At the same time, it prepares students to serve as principled, globally-minded business professionals, able to bridge management cultures and operate as key players in international networks. Small classes permit the one-on-one development of key statistical techniques, communication skills, and creative entrepreneurship necessary today around the world. Regular internships provide opportunities to integrate practice and theory.

Job and Further Study Opportunities

Students completing the Business/Economics major are ready to continue their studies in Masters of Business or Economics Ph.D. programs. With their strong statistical background, as well as their expertise in management, students find opportunities in business, finance, marketing firms, and state, international, and not-for-profit institutions demanding sophisticated data analysis and forecasts. 

What macroeconomics and microeconomics can really give the student is an attitude, a perspective. Microeconomics is about how people make choices on the market and in business. Macro is completely different. It’s about how individual choices add up, and how they form major trends in the economy.
Gábor Antal
Gábor Antal
Professor of Economics

Skills You Get

 

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Quantitative, Analytical

 

Marketing, Creativity

 

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Finance, Accounting

 

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Business Law Basics

Courses

BUA 1101 Principles of Accounting I.

Credits: 4 Prerequisites Placement above MAT 1001.
Fundamental principles of accounting with emphasis on the preparation and interpretation of financial statements. Attention is given to the collection and reporting of pertinent information for creditors, management, and investors. The second semester includes the preparation of data for internal management purposes; the collection, presentation, and interpretation of information for purposes of decision-making, cost control, and managerial planning.

BUA 1102 Principles of Accounting II.

Credits: 4 Prerequisites Placement above MAT 1001.
Fundamental principles of accounting with emphasis on the preparation and interpretation of financial statements. Attention is given to the collection and reporting of pertinent information for creditors, management, and investors. The second semester includes the preparation of data for internal management purposes; the collection, presentation, and interpretation of information for purposes of decision-making, cost control, and managerial planning.

BUA 2209 Principles of Marketing

Credits: 4
An introduction to the marketing function. The focus is primarily on "for profit" firms and their approaches to the marketing discipline. The course tests the student' s mastery of fundamental marketing concepts, principles, and definitions. Several case studies supplement the required texts and lecture contents.

BUA 2220 Psychology in the Workplace

Credits: 4 Prerequisites PSY 1106.
An exploration of the principles of psychology as they are relevant to the work environment. Included will be a discussion of how psychologists can help improve the workplace and address organizational concerns. Topics include selection, training, personnel evaluation, and the characteristics of a variety of work environments. Discussions will also consider how these practices may affect organizational or individual effectiveness and attitudes.

BUA 2295 Internships in Business Administration

Credits: 0-4
Supervised field experiences in appropriate settings, usually off-campus, designed to assist students in acquiring and using skills and knowledge of the discipline unique to the selected topic.

BUA 2298 Independent Studies in Business Administration

Credits: 0-4
Directed study planned and conducted with reference to the needs of those students who are candidates for departmental honors. Qualified students who are not candidates for such honors but who desire to do independent studies are also admitted with permission of the Department.

BUA 3324 Managerial Economics

Credits: 4 Prerequisites ECO 2201, STA 2215, or permission of the instructor. Cross-listed with ECO 3324.
The application of economic theory and quantitative methods to solve business problems. Emphasis is on analysis of demand, cost, and profit under conditions of imperfect information and uncertainty. Business pricing strategies receive special attention.

BUA 4323 Corporate Finance and Financial Management

Credits: 4Prerequisites BUA 1101, STA 2215, or permission of the instructor.
The management of business funds, with emphasis on the techniques of financial analysis, the financial environment in which firms operate, the sources and forms of external financing, and the allocation of funds to competing alternatives such as plant and equipment, working capital, and financial investment.

ECO 2201 Principles of Economics

Credits: 4 Prerequisites MAT 1001, MAT 1002 or placement above MAT 1002.
The study of the economic foundations of any society: price theory – the market system, allocation of resources, and income distribution; macroeconomic theory – national income and employment, money and banking, growth, recession, inflation, and international trade.

ECO 2298 Independent Studies in Economics

Credits: 0-4
Directed study planned and conducted with reference to the needs of those students who are candidates for departmental honors. Qualified students who are not candidates for such honors but who desire to do independent studies are also admitted with permission of the Department.

ECO 3303 Microeconomic Theory

Credits: 4Prerequisites ECO 2201 or permission of the instructor.
The theory of demand, production, cost, and resource allocation in a market economy. Models of market structure are developed and various forms of market failure are analyzed. Also developed are models of risk and uncertainty and theories of factor pricing and income distribution.

ECO 3304  International Economics

Credits: 4 Prerequisites ECO 2201 or permission of the instructor.
The principles of international trade and finance: study of classical trade theories, trade policy, exchange rate markets, balance of payments, trade and growth/development, open economy business cycles, international organizations, and exchange rate policy.

ECO 3320 Macroeconomic Theory

Credits: 4Prerequisites ECO 2201 or permission of the instructor.
The study of national income and price determination, growth, and business cycles; the consumption/ leisure tradeoff, expectations and dynamic decision making, asset markets and investment, nominal frictions, and the role of fiscal and monetary policy.

ECO 3324 Managerial Economics

Credits: 4 Prerequisites ECO 2201, STA 2215, or permission of the instructor. Cross-listed with BUA 3324.
The application of economic theory and quantitative methods for solving business problems. Emphasis is on analysis of demand, cost, and profit under conditions of imperfect information and uncertainty. Business pricing strategies receive special attention.

ECO 4310 Money and Financial Markets

Credits: 4
The study of the financial sector and its importance: market structure and financial instruments, asset pricing and interest rate determination, the operations and behavior of banks and other financial institutions, money-creation and central banking, and the interrelationship between money and financial markets and the macroeconomy.

ECO 4405 The History of Economic Thought

Credits: 4Prerequisites ECO 2201 or permission of the instructor.
The development of economic theory from ancient times to the present. Contributions of Greece, Rome, and the Middle Ages; major emphasis on mercantilism and nineteenth- and twentieth-century economic analysis.

MAT 1107 College Algebra and Trigonometry

Credits: 4 Quantitative Reasoning. Prerequisites MAT 1001, MAT 1002 or placement by the Department.
The basic concepts of algebra and trigonometry needed for the study of calculus. Included are properties of exponents; solving equations and inequalities; graphing; properties of polynomial, exponential, logarithmic, and trigonometric functions.

MAT 1117 Calculus I.

Credits: 4Initial study of limits, derivatives and integrals; review of trigonometric functions; differentiation techniques and formulas applied to rational and trigonometric functions; applications of derivatives including curve sketching; extrema and rate problems; definition of the integral; elementary applications of integrals.

MAT 2218 Linear Algebra

Credits: 4 Quantitative Reasoning. Prerequisites MAT 1117 or 1118 or placement by the Department.
A study of the theory of finite-dimensional vector spaces, linear transformations, matrices, determinants, inner products, and eigenvalues.

STA 2215 Elementary Statistics for Social Science

Credits: 4Quantitative Reasoning. Prerequisites MAT 1001, MAT 1002 or placement above MAT 1002. Not open to students who have completed MAT 3324.
Basic statistical principles and techniques; summarizing and presenting data, measuring central tendency and dispersion in data, basic concepts of probability and probability distributions, estimation of parameters and testing of hypotheses through statistical inference, linear regression and simple correlation.

STA 2216 Statistical Methods

Credits: 4Quantitative Reasoning. Prerequisites Statistics 2215 or Mathematics 3324.
Development of underlying assumptions, limitations, and practical applications of modern statistical analysis. Emphasis is on multivariate regression and analysis of variance and related computer techniques. Techniques of experimental design and statistical inference in various contexts are developed. Time series and forecasting topics are included.

 

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