Ursinus College Catalog

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Business and Economics

Professors Economopoulos, O’Neill, Cirka; Associate Professors Harris, VanGilder (Chair); Assistant Professors Deacle, Gaus.

The Department of Business and Economics offers a variety of programs to prepare students for careers in the public and private sectors, graduate or professional school: an Applied Economics major and minors in Economics, Finance & Accounting and Management Studies. A major in Applied Economics provides students with a strong foundation in economic theory and analytical tools and emphasizes development of skills that are immediately useful in employment. Students concentrate in either Economics or Finance & Accounting; a concentration in Economics develops in-depth skills in application of economic theory to real-world problems, and the concentration in Finance & Accounting prepares students for entry-level positions in banking, financial services, non-profit organizations and management. Graduates in Applied Economics are prepared to work independently and effectively in a dynamic global environment where resources are scarce, information is over-abundant or uncertain and decisions are often morally complex. Students gain experience and skills in teamwork and are challenged to recognize the moral elements of situations, the impacts of their decisions and actions on others, and to choose courses of action that are ethically defensible. Minors offered by the Department of Business and Economics appeal to students majoring in any discipline.

Requirements for Majors

All students in the Department of Business and Economics major in Applied Economics and must complete a minimum of 44 semester hours in the department as outlined below. In addition, majors must take MATH/STAT-141Q.

Required Courses

ECON-101, 102, 200W, 201, 202, 300Q and a Capstone.

Elective Requirements

All Applied Economics majors must concentrate in either Economics or Finance & Accounting as outlined below. The following courses do not count as elective credit for the major in Applied Economics: ECON-110, 120; BE-381, 382, 391, 392, 394, 491 and 492W; ECON-401W, 402W; FIN-403W.

Economics Concentration

Four courses from the following list: ECON-213, 263, 311, 312, 313, 314, 330, 361, 362; FIN-374.

Finance & Accounting Concentration

ACCT-140; FIN-270 and two courses from the following list: ACCT-240, 241, 242; ECON-362; FIN-370, 372, 374.

Capstone

All students who major in Applied Economics can fulfill the capstone, writing and oral presentation requirements in the major by taking one of the 400-level seminar courses offered. Students pursuing the Economics concentration must take either ECON-401W or 402W. Students pursuing the Finance & Accounting concentration must take FIN-403W. Qualified students may substitute BE-491 and 492W for the capstone requirement.

Requirements for Minor in Economics

A minor in economics consists of 20 credits: ECON-101, 102; either ECON-201 or 202; and two electives in Economics at the 200-level or higher. Note: Applied Economics majors may not minor in Economics. An Applied Economics major who minors in Finance & Accounting must fulfill the concentration requirements in Economics.

Requirements for Minor in Finance & Accounting

A minor in Finance & Accounting consists of 20 credits: ECON-102; ACCT-140; FIN-270 and two courses chosen from the following list: ACCT-240, 241, 242;ECON-362; FIN-370, 372, 374. Note: Majors in Applied Economics may minor in Finance & Accounting; however ECON-102 is the only course that may be counted towards both the Applied Economics major AND the Finance & Accounting minor. Elective courses in Finance & Accounting taken to fulfill the minor requirements may not be used to fulfill major requirements in Applied Economics.

Management Studies Minor

Cirka, Associate Professors Harris, VanGilder

A minor in Management Studies requires that students take 24 semester hours in courses across several disciplines. All Management Studies minors are required to take ACCT-140 and MGT-200. In addition students are required to select one course focused on ethics from PHIL-140, 240, 246, 247 or PHIL/ENV-248 and three elective courses chosen from the following list and representing three different departments: Business and Economics (ACCT-240 or 241; or MKT-250; or MGT-300); Environmental Studies (ENV-338); Exercise and Sports Science (ESS-226, 446 or 462); Media and Communications Studies (MCS-305, 307, 315, 331 or 350); Psychology (PSYC-365 or 440); Politics (POL-399 Business Law only); Sociology (SOC-248, 262, 275, or 295).

Note: Majors in Applied Economics are permitted to minor in Management Studies. See the appropriate departmental listings for course descriptions.

Secondary School Teaching Certification

This program satisfies the Pennsylvania State requirements for secondary certification in social studies. Substantial further coursework outside of economics and education is required in order to prepare the student for subjects taught in the secondary curriculum. Students who wish teaching certification should consult their departmental adviser and the chair of the department of education as early as possible, preferably at the end of the freshman year. Students and their advisers should consult the education department.

Courses

Accounting

ACCT-140 Financial Accounting and Reporting Prof. Harris

An introduction to financial accounting concepts, standards and reports. Emphasis on relationships between the income statement, balance sheet and statement of cash flows and relevance of accounting information to decision making. Excel applications of accounting problems. Three hours of lecture; two hours of computer laboratory per week. Four semester hours.

Students with credit for BE-140 may not enroll in ACCT-140.

ACCT-240 Topics in Advanced Financial Reporting Prof. Harris

An in-depth study of selected topics related to financial reporting and disclosure, including their impact on decisions by managers, investors and creditors. Prerequisite: A grade of C- or higher in ACCT-140. Three hours per week.Four semester hours.

Note: Students with credit for BE-240 may not enroll in ACCT-240.

ACCT-241 Management Accounting Prof. Harris

The study of accounting information used by managers for planning and controlling business activities and decision-making. Emphasis is on cost concepts and behavior, costing systems for products and services, budgeting, breakeven and variance analysis. Prerequisite: A grade of C- or higher in ACCT-140. Three hours per week. Four semester hours.

Students with credit for BE-241 may not enroll in ACCT-241.

ACCT-242 Federal Income Tax PolicyProf. Harris

An introduction to the principles and policies of the federal income tax code, with focus on issues affecting corporations, partnerships and individuals. Prerequisite: A grade of C- or higher in ACCT-140. Three hours per week. Four semester hours.

Note: Students with credit for BE-242 may not enroll in ACCT-242.

Business and Economics

BE 001-004 Community Service Practicum Faculty

This practicum allows students to volunteer and collaborate with a local non-profit organization. Placement is based on availability, student interest and qualifications. Special classroom training may be needed. Students report to a supervisor and faculty advisor, keep a journal of their activities, and write a research paper. Prerequisite: Sophomore standing and permission of the chair. A minimum of 40 hours. Grade: S/U. One semester hour.

Students may take up to four credits of Community Service Practicum. Completion of the Community Service Practicum does not satisfy the ILE requirement for the college.

BE-005-008. Readings in Business and Economics Faculty

Individual study and directed reading of a particular topic or book within the discipline. Students will work closely with a member of the BE faculty in selecting, reading, and discussing the topic, and in determining a proper written assignment. Prerequisites: Permission of the instructor. Grade: S/U.One semester hour.

Students may take up to four credits of Readings in Business and Economics

BE-381. Internship Faculty

An off-campus academic/work experience under the supervision of a faculty internship adviser and an on-site supervisor. Students are required to document their experiences in a written journal. A written research paper/project is required. Contact the chair of the department for further details. Open to juniors and seniors. The term during which the internship work is performed will be noted by one of the following letters, to be added immediately after the internship course number: A (fall), B (winter), C (spring), or D (summer). Internships undertaken abroad will be so indicated by the letter I. The intern must complete a minimum of 120 hours of work. Prerequisites: Four courses in the major and prior written approval of a faculty internship adviser. Graded S/U. Three semester hours.(I.)

BE-382. Internship Faculty

An off-campus academic/work experience under the supervision of a faculty internship adviser and an on-site supervisor. Students are required to document their experiences in a written journal. A written research paper/project is required. Contact the chair of the department for further details. Open to juniors and seniors. The term during which the internship work is performed will be noted by one of the following letters, to be added immediately after the internship course number: A (fall), B (winter), C (spring), or D (summer). Internships undertaken abroad will be so indicated by the letter I. The intern must complete a minimum of 160 hours of work. Prerequisites: Four courses in the major and prior written approval of a faculty internship adviser. Graded S/U. Four semester hours.(I.)

BE-391. Research/Independent Study Faculty

Independent investigation of an area of business or economics not covered in regular courses. Prerequisite: Completion of Applied Economics major core and written consent of a department faculty member. Graded S/U. One semester hour.

Note: This course may be taken more than once.

BE-392. Research/Independent Study Faculty

Independent investigation of an area of business or economics not covered in regular courses. Prerequisite: Completion of Applied Economics major core and written consent of a department faculty member. Graded S/U. Two semester hours.

Note: This course may be taken more than once.

BE-394.Research/Independent Study Faculty

Independent investigation of an area of business or economics not covered in regular courses. Prerequisite: Completion of Applied Economics major core and written consent of a department faculty member. An oral presentation to the department is required. Graded S/U. Four semester hours. (I.)

Note: This course may be taken more than once. This course always fulfills the ILE requirement for the college.

BE-491. Research/Independent Study Faculty

Preparation of an independent research paper. Open only to candidates for departmental honors or to fourth-year majors with the permission of the department chair. Four semester hours. (I.)

BE-492W. Research/Independent Study Faculty

A continuation of BE-491. Prerequisite: BE-491. Four semester hours. (I.)

Note: The completion of BE-491 and 492W satisfies the capstone requirement (for the major in Applied Economics (ECON-401W, ECON-402W or FIN-403W).

Economics

ECON-101. Principles of MicroeconomicsFaculty

An introduction to the economic behavior of consumers and firms through the framework of supply and demand. The course presents an overview of different market structures and economic decision making. Four hours per week. Four semester hours. (SS.)

ECON-102. Principles of MacroeconomicsFaculty

The course covers the foundations of the macro-economy. Concepts of the price system, measurements of economic performance, macro models, monetary and fiscal policies, and the time value of money will be introduced. Four hours per week. Four semester hours. (SS.)

Note: Students with credit for BE-210 may not enroll in ECON-102.

ECON-110. Race and Gender in the American Economy Dr. VanGilder

The study of the issues of race and gender in the U.S. economy. We will evaluate the economic status of racial minorities and women. Issues include occupational segregation, wage differentials, educational attainment, affirmative action and labor market discrimination. Three hours per week. Four semester hours. (SS, D.)

Note:Students with credit for BE-110 may not enroll in ECON-110.

ECON-120. Contemporary Global Economic Issues Faculty

This course examines a variety of contemporary economic issues in developing countries. Economic theory provides the basis of the analysis. Specific issues may vary from semester to semester, and will include how these countries have dealt with or reacted to some or all of the following: the environment, the labor market, health care, government regulation, monetary and fiscal policy, international economics, and social policy. Students will participate in debates and critically evaluate current events. Three hours per week. Four semester hours. (SS, G.)

Note: Students who have received credit for ECON-101 or 102 may not enroll in ECON-120 nor may ECON-120 be taken concurrently with ECON-101 or 102. Students with credit for BE-120 may not enroll in ECON-120.

ECON-200W. Research Methods in Business and Economics Dr. VanGilder

This course is an introduction to research within Business and Economics. Topics include writing conventions within the discipline, presentation development, synthesizing data, and culmination of analysis across different genres. Students will develop deeper knowledge of Excel through data manipulation and analysis. Prerequisites: A grade of C– or higher in ECON-101 or ECON-102 and sophomore standing. Three hours per week. Four semester hours.(SS)

ECON-201. Intermediate Microeconomics Dr. O’Neill, Dr. VanGilder

The study of the economic behavior and optimal resource usage for consumers and firms. Topics also include market analysis, pricing decisions and strategic behavior. Prerequisite: A grade of C– or higher in ECON-101. Three hours per week. Four semester hours. (SS.)

Note: Students with credit for BE-211 may not enroll in ECON-201.

ECON-202. Intermediate Macroeconomics Dr. Economopoulos, Dr. Deacle, Dr. Gaus, Dr. O’Neill

The study of inflation, unemployment and economic growth within the context of the world economy. An examination of how exchange rates, taxes and central bank policies affect businesses and the performance of the U.S. economy. Prerequisite: A grade of C– or higher in ECON-102. Three hours per week. Four semester hours. (SS.)

Note: Students with credit for BE-212 may not enroll in ECON-202.

ECON-213. Topics in Economics and Public Policy Dr. Deacle, Dr. Economopoulos, Dr. Gaus, Dr. O’Neill, Dr. VanGilder

Contemporary issues are discussed using a cross-disciplinary approach. Microeconomic and macroeconomic analyses are undertaken within a historical context. Prerequisites: ECON-101 or 102, or permission of instructor. Three hours per week. Four semester hours. (SS.)

ECON-263. Development Economics Dr. Economopoulos

An introduction to the study of economic factors facing developing countries. The nature and the contribution of economic, cultural and political institutions will be examined. Approaches to development are reviewed. Case studies of successful and unsuccessful developing countries will be used. Prerequisites: ECON-102 or permission of instructor. Three hours per week. Four semester hours. (SS, G.)

ECON-300Q. Econometrics Dr. Deacle, Dr. Economopoulos, Dr. Gaus, Dr. O’Neill , Dr. VanGilder

Econometric methods used in analyzing business and economic data, including hypothesis testing, trend analysis, and forecasting of behavioral decisions by consumers and firms. Topics include the specification, estimation and verification of multiple regression and time series models. Laboratory experience includes statistical software usage. A research paper presenting original data analysis is required. Prerequisites: ECON-201, 202 and 200W; a grade of C– or better in MATH/STAT-141Q;. Three hours of lecture; two hours of laboratory per week. Four semester hours. (SS.)

ECON-311. Health Economics Dr. O’Neill

Discussion of various topics including the supply and demand of health care, health professionals’ services, facilities and pharmaceuticals. Government policies concerning Medicare and Medicaid are analyzed. International comparisons of health care delivery systems are discussed. Prerequisite: ECON-201 or permission of instructor. Three hours per week. Four semester hours. (SS.)

Note: Students with credit for BE-311 or 411W may not enroll in ECON-311.

ECON-312. Labor Economics Dr. VanGilder

A theoretical and empirical study of the functioning of labor markets, with emphasis on employment and compensation determination as affected by worker and firm characteristics, public policy, and worker organizations. Prerequisite: ECON-201. Three hours per week. Four semester hours. (SS.)

Note: Students with credit for BE-312 or 412W may not enroll in ECON-312.

ECON-314. The Economics Sports Dr. O’Neill

The study of introductory economics and business using topics in sports and sports business. Professional, amateur, college and recreational sports will be analyzed. Prerequisites: ECON-201. Three hours per week. Four semester hours. (SS.)

Note: Students with credit for BE/ESS273 may not enroll in ECON-314.

ECON-330. Stategic Analysis Dr Cirka

A case-oriented course in strategic management taught from the perspective of the firm’s top management team as they seek to achieve competitive advantage in an increasingly knowledge-intensive business world. Prerequisite: ECON-201 or 202. Three hours per week. Four semester hours (SS)

Note: Students with credit for BE-330 or 430W may not enroll in ECON-330.

ECON-361. International Trade Theory and Policy Dr. Gaus, Dr. O’Neill

An exploration of the factors that contribute to international trade and globalization. Topics include gains from trade, firm motivation, and government policies. Ongoing discussion analyzing current trade problems, prescriptions and legislation. Prerequisite: ECON-201. Three hours per week.Four semester hours. (SS.)

Note: Students with credit for BE-361 or 461W may not enroll in ECON-361

ECON-362. International Finance Theory and Policy Dr. Deacle, Dr. Gaus, Dr. O’Neill

An examination of foreign exchange rate markets as they relate to multinational corporations. The key factors that influence exchange rates and international capital flows will be studied. The course will also consider policies that governments use to influence the foreign exchange market. Prerequisite: ECON-202. Three hours per week. Four semester hours. (SS.)

Note: Students with credit for BE-362 or 462W may not enroll in ECON-362.

ECON-401W Seminar in Microeconomics. Faculty

Contemporary issues are discussed using a cross-disciplinary approach. Microeconomics analyses are undertaken within a historical context. Course will incorporate the development and exploration of a student-selected, independent research topic, culminating in a paper and oral presentation. Four hours per week. Prerequisites: Completion of required courses in the major and two electives in the Economics concentration.Four semester hours. (SS.)

ECON-402W Seminar in Macroeconomics. Faculty

Contemporary issues are discussed using a cross-disciplinary approach. Macroeconomics analyses are undertaken within a historical context. Course will incorporate the development and exploration of a student-selected, independent research topic, culminating in a paper and oral presentation. Four hours per week. Prerequisites: Completion of required courses in the major and two electives in the Economics concentration. Four semester hours. (SS.)

Finance

FIN-270. Introduction to Finance Dr. Deacle, Dr. Economopoulos, Prof. Harris

An introduction to the core subjects of finance. Topics include financial markets and institutions, the interpretation of financial statements, methods for estimating the value and risk of financial securities, and theories that explain interest rates. Prerequisites: A grade of C– or higher in ACCT-140 and ECON-102. Three hours per week. Four semester hours.

Note: Students with credit for BE-270 may not enroll in FIN-270.

FIN-370. Corporate Finance Dr. Deacle, Dr. Economopoulos

A study of the basic issues and principles involved in the financing of corporations: corporate structure, short- and long-term financing instruments, expansion, failure, and reorganization. This course will employ case studies, and a semester project will require students to use financial analysis and forecasting techniques. Prerequisite: FIN- 270. Three hours per week. Four semester hours.

Note: Students with credit for BE-370 may not enroll in ECON-370.

FIN-372. Investments Dr. Economopoulos, Dr. Deacle

A survey of securities and security markets. Through the study of texts and market data, students explore the characteristics of stocks, bonds, and derivatives, paying particular attention to the measurement of returns and risk. In the process, students develop their understanding of market efficiency, fundamental analysis, technical analysis, behavioral finance, and ethical issues related to investment management. Prerequisite: FIN-270. Three hours per week. Four semester hours.

Note: Students with credit for BE-372 may not enroll in ECON-372.

FIN-374. Money and Financial Institutions Dr. Economopoulos, Dr. Deacle

An in-depth understanding of the role of money and financial institutions in the economy. Money-related topics include monetary systems, money's relationship to prices and economic growth, and theories of central banking. The course explores the characteristics common to all financial institutions, their role as intermediaries between savers and investors, and the nature and influence of regulations on financial institutions. Prerequisite: ECON-202. Three hours per week. Four semester hours.

FIN-403W. Seminar in Finance & Accounting Dr. Economopoulos, Dr. Deacle

Various finance topics covered include: credit agencies and scoring, alternative models of risk and return, derivatives, mergers and acquisitions, working capital management and forecasting, corporate governance, and business ethics. Quantitative methods are used in the assessment of financial decisions. A student-selected, independent research paper and oral presentation are required. Prerequisites: Completion of required courses in the major, ACCT-140, FIN-270 and one elective in the Finance & Accounting concentration. Four semester hours.

Management Studies

MGT-200. Management and Organizational Behavior Dr. Cirka

The study of theories and practices in the fields of management and organizational behavior. Focus is on understanding how organizations function in a global business environment. Integrates the study of the behavioral sciences as a framework for understanding individual and collective behavior with study of the essential management function of planning, organizing, leading and controlling. Prerequisites: Sophomore standing. Four hours per week. Four semester hours.

Note: Students with credit for BE-230 may not enroll in MGT-200.

MGT-300. Topics in Management Studies Faculty

Contemporary topics in management are discussed such as organizational leadership, human resource management and international business. Prerequisite: sophomore standing or permission of the instructor. Three hours per week. Four semester hours.

MKT-250. Marketing Dr. Cirka

The study of market analysis, consumer behavior and the four components of the marketing mix—product, price, promotion and distribution. Marketing issues will be examined through case studies and projects utilizing marketing research and analytical techniques. Prerequisite: Sophomore standing. Three hours per week. Four semester hours.

Note: Students with credit for BE-380 may not enroll in MKT-250.

MKT-350. Marketing Research Faculty

Focuses on fundamental issues in research design and analysis: problem formulation, data collection, sample selection, data analysis and interpretation. Topics include the economic aspects of pricing strategies, advertising, inter and intra market rivalries, entry and barriers to new markets, and regulations. A marketing research paper is required. Prerequisites: MKT-250. Three hours per week. Four semester hours.