Economics (B.A., B.S.)

Academically equivalent, both bachelor’s of art and bachelor’s of science will full prepare you for a career in economics. Economics is traditionally viewed as a liberal arts major and therefore students often choose the B.A. degree.

A department-approved supporting program with a minimum of 12 hours outside the economics major is required.

ACCT 1310 Principles of Accounting I (3 hours)

This is an introduction to the basic accounting model and the framework for developing financial statements. The major focus is on the study of generally accepted accounting principles as they apply to the measurement of income and the presentation of a firm's financial position.
(Normally offered each semester.)

ACCT 1320 Principles of Accounting II (3 hours)

The role of accounting in the formation and capitalization of corporations is studied. Other topics include cash flow, analysis and interpretation of financial statements, and basic managerial accounting.
Prerequisite(s): Grade of "C-" or better in ACCT 1310 Principles of Accounting I.
(Normally offered each semester.)

BUSAD 2100 Business and Economic Statistics (3 hours)

An introduction to descriptive and inferential statistics. Topics include gathering, organizing, interpreting, and presenting data with emphasis on hypothesis testing as a method for decision making in the fields of business and economics. Procedures include z-tests, t-tests, ANOVAs, correlation, and simple regression.
Cross listed with ECON 2100.
Prerequisite(s): Demonstrated proficiency in high school algebra or permission of the instructor.
(Normally offered each semester.)

BUSAD 2300 Business Communication (3 hours)

This course will review the basics of effective oral and written communication and apply these basics to business writing and presentations. A variety of individual and collaborative projects, including memos, letters, and reports, will emphasize the process of drafting, revising, and editing business communications.
Prerequisite(s):  Business Administration, Accounting, Economics, International Business, or Sport Management major.

Archway Curriculum: Essential Connections: Writing Instructive
Archway Curriculum: Essential Connections: Speaking Instructive
BUSAD 3300 Quantitative Methods (3 hours)

This course will review modern quantitative methods used in decision making. The intent is to expose the student to various modeling techniques and to apply these techniques using Excel. Topics include productivity and capacity analysis, forecasting, regression analysis, linear programming, PERT/CPM, and statistical process control.
Prerequisite(s): Grade of "C-" or better in BUSAD 2100 Business and Economic Statistics and MATH 1100 College Algebra or higher.
(Normally offered each semester.)

BUSAD 3700 Financial Management (3 hours)

Students are introduced to financial management of proprietorships, partnerships, and corporations. Concepts of risk and return, time value of money, and stock and bond valuation are analyzed from a quantitative approach and applied throughout the course. Additional topics covered are the cost of capital as related to discounted cash flow, capital budgeting, and strategic financing decisions. A project consisting of several spreadsheet applications will be utilized in order to expose students to their potential for financial analysis. Topics covered include: basic financial statements, financial ratio analysis, time value of money, valuation and rates of return, the cost of capital, and capital budgeting.
Prerequisite(s): Junior standing and grades of "C-" or better in ECON 1530 Macroeconomic Principles, ACCT 1320 Principles of Accounting II and MATH 1100 College Algebra or higher, or permission of the instructor.
(Normally offered each semester.)

ECON 1530 Macroeconomic Principles (3 hours)

An examination of the macroeconomic theories, problems, and policies of the U.S. economy. Topics include supply and demand, a description of the main sectors of the economy, and the role of government in stabilizing the economy with monetary and fiscal policies.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Scientific Investigations: Social Science
Archway Curriculum: Integrative Core: Going Global Thread
ECON 1540 Microeconomic Principles (3 hours)

An examination of the microeconomic theories, problems, and policies of the U.S. economy. Topics include the theory of the firm, market structures, and current economic issues such as income distribution, antitrust policy, poverty, the farm problem, and international trade.
Prerequisite(s): ECON 1530 Macroeconomic Principles strongly recommended.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Scientific Investigations: Social Science
Archway Curriculum: Integrative Core: Power Thread
ECON 2020 Money and Banking (3 hours)

A study of the nature and function of money, monetary theory and policy, and financial institutions; and a survey of the historical developments that have affected the U.S. monetary system.
Prerequisite(s): Grade of "C-" or better in ECON 1530 Macroeconomic Principles.

ECON 2100 Business and Economic Statistics (3 hours)

See BUSAD 2100 Business and Economic Statistics.
 

ECON 2550 Microeconomic Theory (3 hours)

A study of the mechanisms by which resources are allocated in a market economy, the effects of imperfect competition upon resource allocation, and the pricing and employment of inputs.
Prerequisite(s): Grade of "C-" or better in ECON 1540 Microeconomic Principles
(Normally offered each fall semester.)

ECON 2560 Macroeconomic Theory (3 hours)

A study of the concepts and measurement of national income, including an analysis of the forces determining the level of national income and employment, the price level, and the rate of economic growth.
Prerequisite(s): Grade of "C-" or better in ECON 1530 Macroeconomic Principles.
(Normally offered each spring semester.)

ECON 4570 International Trade (3 hours)

A study of the theory of international trade, commercial policy, international monetary affairs, and institutions for international economic stability and development.
Prerequisite(s): Junior standing and grade of "C-" or better in ECON 1540 Microeconomic Principles or permission of the instructor.

Archway Curriculum: Essential Connections: Diversity Instructive: Global
Archway Curriculum: Integrative Core: Going Global Thread
ECON 4610 Economic Viewpoints (3 hours)

An analysis of the various economic philosophies that have arisen from Western European and North American experiences. The senior comprehensive requirement may be met in this course by completion of a thesis satisfying departmental guidelines.
Prerequisite(s): Grade of "C-" or better in ECON 1540 Microeconomic Principles or permission of the instructor.

ECON 4950 Independent Study (1-3 hours)

This is a research course. The student initially meets with the department chair to select a study topic and review research methods. At this time the student will be assigned a faculty resource person to guide his or her work and assist in an advisory capacity. A copy of the student's work is filed in the archives of the department. Independent study may not duplicate courses described in the catalog.
Prerequisite(s): Permission of the department chair.

ECON 4970 Economics Internship (3 hours)

Each student must work with the department intern coordinator to obtain an economics-related internship. This course gives opportunity for practical application of theoretical principles learned in the classroom. Under special circumstances, a second internship may be taken for credit with the approval of the business department chair and the internship coordinator.
No Pass/Fail.
Prerequisite(s): Junior standing or permission of the department internship coordinator.
(Normally offered each semester.)

Archway Curriculum: Essential Connections: Experiential Learning: Intensive
MATH 1100 College Algebra (3 hours)

A study of functions from algebraic, graphical, numerical and modeling perspectives. The functions are chosen from among linear, polynomial, rational, exponential and logarithmic.
Prerequisite(s): Math ACT score of at least 21.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1400 Pre-Calculus (4 hours)

A study of elementary functions, their graphs, and applications, including polynomial, rational, algebraic, exponential, logarithmic, and trigonometric functions.
Prerequisite(s): Math ACT score of at least 24 or grade of "C" or better in MATH 1100 College Algebra.

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1450 Finite Mathematics (4 hours)

A survey of specialized mathematical techniques used to solve contemporary problems in business, economics and the social sciences. Topics may include linear regression, mathematical finance, systems of equations, matrix algebra, linear programming, enumeration, probability, and statistics.
Prerequisite(s): Math ACT of at least 24 or a grade of "C "or better in MATH 1100 College Algebra.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1500 Calculus for Management, Biological, and Social Sciences (4 hours)

A calculus course for non-mathematics majors. Topics include limits, continuity, differentiation, and integration with emphasis on relevant applications.
Prerequisite(s): Math ACT score of at least 24 or grade of "C" or better in MATH 1100 College Algebra.
(Normally offered once a year.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1600 Calculus I (5 hours)

An introduction to calculus of a single variable. Topics include limits, continuity, differentiation, and beginning integration with applications. Assignments are given that help build proficiency in the use of a computer algebra system.
Prerequisite(s): Math ACT score of at least 27 or a grade of "C" or better in MATH 1470 Trigonometry or MATH 1400 Pre-Calculus.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
ACCT 1310 Principles of Accounting I (3 hours)

This is an introduction to the basic accounting model and the framework for developing financial statements. The major focus is on the study of generally accepted accounting principles as they apply to the measurement of income and the presentation of a firm's financial position.
(Normally offered each semester.)

ACCT 1320 Principles of Accounting II (3 hours)

The role of accounting in the formation and capitalization of corporations is studied. Other topics include cash flow, analysis and interpretation of financial statements, and basic managerial accounting.
Prerequisite(s): Grade of "C-" or better in ACCT 1310 Principles of Accounting I.
(Normally offered each semester.)

BUSAD 2100 Business and Economic Statistics (3 hours)

An introduction to descriptive and inferential statistics. Topics include gathering, organizing, interpreting, and presenting data with emphasis on hypothesis testing as a method for decision making in the fields of business and economics. Procedures include z-tests, t-tests, ANOVAs, correlation, and simple regression.
Cross listed with ECON 2100.
Prerequisite(s): Demonstrated proficiency in high school algebra or permission of the instructor.
(Normally offered each semester.)

BUSAD 2300 Business Communication (3 hours)

This course will review the basics of effective oral and written communication and apply these basics to business writing and presentations. A variety of individual and collaborative projects, including memos, letters, and reports, will emphasize the process of drafting, revising, and editing business communications.
Prerequisite(s):  Business Administration, Accounting, Economics, International Business, or Sport Management major.

Archway Curriculum: Essential Connections: Writing Instructive
Archway Curriculum: Essential Connections: Speaking Instructive
BUSAD 3300 Quantitative Methods (3 hours)

This course will review modern quantitative methods used in decision making. The intent is to expose the student to various modeling techniques and to apply these techniques using Excel. Topics include productivity and capacity analysis, forecasting, regression analysis, linear programming, PERT/CPM, and statistical process control.
Prerequisite(s): Grade of "C-" or better in BUSAD 2100 Business and Economic Statistics and MATH 1100 College Algebra or higher.
(Normally offered each semester.)

BUSAD 3700 Financial Management (3 hours)

Students are introduced to financial management of proprietorships, partnerships, and corporations. Concepts of risk and return, time value of money, and stock and bond valuation are analyzed from a quantitative approach and applied throughout the course. Additional topics covered are the cost of capital as related to discounted cash flow, capital budgeting, and strategic financing decisions. A project consisting of several spreadsheet applications will be utilized in order to expose students to their potential for financial analysis. Topics covered include: basic financial statements, financial ratio analysis, time value of money, valuation and rates of return, the cost of capital, and capital budgeting.
Prerequisite(s): Junior standing and grades of "C-" or better in ECON 1530 Macroeconomic Principles, ACCT 1320 Principles of Accounting II and MATH 1100 College Algebra or higher, or permission of the instructor.
(Normally offered each semester.)

ECON 1530 Macroeconomic Principles (3 hours)

An examination of the macroeconomic theories, problems, and policies of the U.S. economy. Topics include supply and demand, a description of the main sectors of the economy, and the role of government in stabilizing the economy with monetary and fiscal policies.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Scientific Investigations: Social Science
Archway Curriculum: Integrative Core: Going Global Thread
ECON 1540 Microeconomic Principles (3 hours)

An examination of the microeconomic theories, problems, and policies of the U.S. economy. Topics include the theory of the firm, market structures, and current economic issues such as income distribution, antitrust policy, poverty, the farm problem, and international trade.
Prerequisite(s): ECON 1530 Macroeconomic Principles strongly recommended.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Scientific Investigations: Social Science
Archway Curriculum: Integrative Core: Power Thread
ECON 2020 Money and Banking (3 hours)

A study of the nature and function of money, monetary theory and policy, and financial institutions; and a survey of the historical developments that have affected the U.S. monetary system.
Prerequisite(s): Grade of "C-" or better in ECON 1530 Macroeconomic Principles.

ECON 2100 Business and Economic Statistics (3 hours)

See BUSAD 2100 Business and Economic Statistics.
 

ECON 2550 Microeconomic Theory (3 hours)

A study of the mechanisms by which resources are allocated in a market economy, the effects of imperfect competition upon resource allocation, and the pricing and employment of inputs.
Prerequisite(s): Grade of "C-" or better in ECON 1540 Microeconomic Principles
(Normally offered each fall semester.)

ECON 2560 Macroeconomic Theory (3 hours)

A study of the concepts and measurement of national income, including an analysis of the forces determining the level of national income and employment, the price level, and the rate of economic growth.
Prerequisite(s): Grade of "C-" or better in ECON 1530 Macroeconomic Principles.
(Normally offered each spring semester.)

ECON 4570 International Trade (3 hours)

A study of the theory of international trade, commercial policy, international monetary affairs, and institutions for international economic stability and development.
Prerequisite(s): Junior standing and grade of "C-" or better in ECON 1540 Microeconomic Principles or permission of the instructor.

Archway Curriculum: Essential Connections: Diversity Instructive: Global
Archway Curriculum: Integrative Core: Going Global Thread
ECON 4610 Economic Viewpoints (3 hours)

An analysis of the various economic philosophies that have arisen from Western European and North American experiences. The senior comprehensive requirement may be met in this course by completion of a thesis satisfying departmental guidelines.
Prerequisite(s): Grade of "C-" or better in ECON 1540 Microeconomic Principles or permission of the instructor.

ECON 4950 Independent Study (1-3 hours)

This is a research course. The student initially meets with the department chair to select a study topic and review research methods. At this time the student will be assigned a faculty resource person to guide his or her work and assist in an advisory capacity. A copy of the student's work is filed in the archives of the department. Independent study may not duplicate courses described in the catalog.
Prerequisite(s): Permission of the department chair.

ECON 4970 Economics Internship (3 hours)

Each student must work with the department intern coordinator to obtain an economics-related internship. This course gives opportunity for practical application of theoretical principles learned in the classroom. Under special circumstances, a second internship may be taken for credit with the approval of the business department chair and the internship coordinator.
No Pass/Fail.
Prerequisite(s): Junior standing or permission of the department internship coordinator.
(Normally offered each semester.)

Archway Curriculum: Essential Connections: Experiential Learning: Intensive
MATH 1100 College Algebra (3 hours)

A study of functions from algebraic, graphical, numerical and modeling perspectives. The functions are chosen from among linear, polynomial, rational, exponential and logarithmic.
Prerequisite(s): Math ACT score of at least 21.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1400 Pre-Calculus (4 hours)

A study of elementary functions, their graphs, and applications, including polynomial, rational, algebraic, exponential, logarithmic, and trigonometric functions.
Prerequisite(s): Math ACT score of at least 24 or grade of "C" or better in MATH 1100 College Algebra.

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1450 Finite Mathematics (4 hours)

A survey of specialized mathematical techniques used to solve contemporary problems in business, economics and the social sciences. Topics may include linear regression, mathematical finance, systems of equations, matrix algebra, linear programming, enumeration, probability, and statistics.
Prerequisite(s): Math ACT of at least 24 or a grade of "C "or better in MATH 1100 College Algebra.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1500 Calculus for Management, Biological, and Social Sciences (4 hours)

A calculus course for non-mathematics majors. Topics include limits, continuity, differentiation, and integration with emphasis on relevant applications.
Prerequisite(s): Math ACT score of at least 24 or grade of "C" or better in MATH 1100 College Algebra.
(Normally offered once a year.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving
MATH 1600 Calculus I (5 hours)

An introduction to calculus of a single variable. Topics include limits, continuity, differentiation, and beginning integration with applications. Assignments are given that help build proficiency in the use of a computer algebra system.
Prerequisite(s): Math ACT score of at least 27 or a grade of "C" or better in MATH 1470 Trigonometry or MATH 1400 Pre-Calculus.
(Normally offered each semester.)

Archway Curriculum: Foundational Literacies: Mathematical Problem Solving