Missions and Objectives

The Department of Economics & Finance performs a valuable service role in preparing future business and professional leaders to meet the challenges they will face in the years ahead. Students may choose a major in economics, business economics,  or finance; minors are also available in both fields.

A student with a background in economics or finance is prepared for many interesting and rewarding careers in such fields as banking, insurance, real estate, investments, financial management, and economic research and analysis. Employment opportunities also are available in teaching and government service.

	Mission Statement
	Objectives      Bachelor of Arts in Economics      Bachelor of Business Administration in Business Economics      Bachelor of Business Administration in Finance

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I. Mission Statement

Our mission is to provide high-quality degree programs and service courses in economics and finance that teach our students current theory and practice, to conduct relevant, original research that supports our teaching activities, and to serve our University and community.

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II. Educational Objectives

A. Bachelor of Arts in Economics

The Bachelor of Arts in Economics is designed to give students a clear understanding of the usefulness of economic theory in everyday life, and the role played by economics in public policy making. Solid training in the modern techniques of economic analysis enables our graduates to make optimal decisions and solve resource allocation problems in a wide variety of applications. Specifically, the educational objectives of the BA in Economics include:

1. Apply the basic market model to explain and predict price changes in individual markets. This objective is satisfied with the successful completion of:

(i) ECO 232 - Principles of Microeconomics

(ii) ECO 353 - Price Theory

2. Identify and assess the opportunity costs involved in any economic activity, whether the decision-maker is a private individual, business firm, or social organization. This objective is satisfied with the successful completion of:

(i) ECO 231 - Principles of Macroeconomics

(ii) ECO 232 - Principles of Microeconomics

3. Apply mainstream macroeconomic theory to explain and predict events in the aggregate economy, including the roles played by fiscal and monetary policies. This objective is satisfied with the successful completion of:

(i) ECO 231 - Principles of Macroeconomics

(ii) ECO 351 - Income and Employment

4. Identify economic issues and problems, gather data needed to evaluate them, and analyze that data to gain insights into economic behavior and formulate possible solutions. This objective is satisfied with the successful completion of:

(i) ECO 351 - Income and Employment

(ii) ECO 353 - Price Theory

(iii) ECO 339 - Applied Statistical Analysis

5. Gain an in-depth understanding of several specialized areas in economics, thereby learning how to apply microeconomic and macroeconomic theory to specific policy issues. This objective is satisfied with the successful completion of:

1. ECO 331 - Money and Banking

2. Any four advanced economics electives. Currently, these electives include: ECO 311 - Managerial Economics; ECO 337 - Public Finance; ECO 345 - Industry Structure, Market Power and AntiTrust Legislation; ECO 359 - Sports Economics; ECO 361 - Environmental Economics; ECO 439 - Labor Economics; ECO 475 - Special Problems in Economics; ECO 480 - International Economics.

B. Bachelor of Business Administration in Business Economics

The Bachelor of Business Administration in Business Economics is designed primarily to train students in the application of economic theory to business decision-making. Specifically, the educational objectives of the BBA in Business Economics include:

1. Apply the basic market model to explain and predict price changes in individual markets. This objective is satisfied with the successful completion of:

(i) ECO 232 - Principles of Microeconomics

(ii) ECO 353 - Price Theory

2. Identify and assess the opportunity costs involved in any economic decision made by market consumers or business firms. This objective is satisfied with the successful completion of:

(i) ECO 231 - Principles of Macroeconomics

(ii) ECO 232 - Principles of Microeconomics

3. Apply mainstream macroeconomic theory to explain and predict events in the aggregate economy, including the roles played by fiscal and monetary policies, and to relate those to the business sector. This objective is satisfied with the successful completion of:

(i) ECO 231 - Principles of Macroeconomics

(ii) ECO 351 - Income and Employment

4. Identify economic issues and problems that affect businesses, gather data needed to evaluate them, and analyze that data to gain insights into consumer or firm behavior and formulate possible solutions. This objective is satisfied with the successful completion of:

(i) ECO 351 - Income and Employment

(ii) ECO 353 - Price Theory

(iii) ECO 339 - Applied Statistical Analysis

5. Gain an in-depth understanding of several specialized areas in economics, thereby learning how to apply microeconomic and macroeconomic theory to specific business issues. This objective is satisfied with the successful completion of:

1. ECO 331 - Money and Banking

2. Any four advanced economics electives. Currently, these electives include: ECO 311 - Managerial Economics; ECO 337 - Public Finance; ECO 345 - Industry Structure, Market Power and AntiTrust Legislation; ECO  359 - Sports Economics; ECO 361 - Environmental Economics; ECO 439 - Labor Economics; ECO 475 - Special Problems in Economics; ECO 480 - International Economics.

C. Bachelor of Business Administration in Finance

The Bachelor of Business Administration in Finance is designed to give students a solid foundation in the techniques of modern financial analysis to prepare them for successful careers in finance. Specifically, the educational objectives of the BBA in Economics include:

1. Gain an in-depth understanding of the role of financial management in the business firm, including the calculation and use of financial ratios. This objective is satisfied with the successful completion of:

(i) FIN 333 - Introduction to Financial Management

(ii) FIN 373 - Intermediate Financial Management

2. Gain an in-depth understanding of the operation of securities markets and the roles played by businesses and individual investors. This objective is satisfied with the successful completion of:

(i) FIN 357 - Introduction to Investments

3. Gain an in-depth understanding of the financial institutions present in today's business environment. This objective is satisfied with the successful completion of:

(i) FIN 370 - Financial Institutions

4. Gain a broader understanding of the role of accounting in the field of finance. This objective is satisfied with the successful completion of:

1. One or two of the following courses: ACC 331 - Intermediate Accounting I; ACC 332 - Intermediate Accounting II; ACC 333 - Cost Accounting; ACC 343 - Federal Income Tax; FIN 401 - Financial Statement Analysis.

5. Gain an in-depth understanding of several specialized areas in finance. This objective is satisfied with the successful completion of:

1. Four or five of the following courses. ECO 331 - Money and Banking; FIN 358 - International Financial Markets; FIN 367 - Real Estate Financing; FIN 401 - Financial Statement Analysis (if not taken in 4. above); FIN 410 - Speculative Markets; FIN 415 - Personal Financial Planning; FIN 433 - International Financial Management; FIN 458 - Security Analysis and Portfolio Management; FIN 471 - Commercial Bank Management; FIN 474 - Financial Planning and Policy; FIN 475 - Special Problems in Finance; FIN 490 - Student Investment Roundtable.

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