2019-2020 Course Catalog

Economics (BA)

The Economics major provides a flexible and attractive skill set in key areas: statistics, managerial economics, decision-making, and global and emerging markets. Through coursework and hands on experience you ’ll develop verbal and written communication skills that are critical in the workplace. A degree in economics is excellent preparation for graduate study in law, policy, or business.

Learning Outcomes

Graduates of bachelor’s–level programs in business will be able to demonstrate that they possess academic skills, professional attributes and broad-based and in-depth knowledge of business concepts and functions.

Graduates of bachelor’s–level programs in business will be able to:

  • Analyze situations and solve problems in business settings and make appropriate business decisions
  • Use quantitative reasoning skills in statistical analysis and research design
  • Communicate in written and oral formats
  • Integrate knowledge of business concepts and functions
  • Develop a professional identity through bridging curricular, co–curricular, and workplace events
  • Demonstrate leadership skills through the ability to set direction and work with others
  • Understand the functional areas of accounting, finance, management, and marketing
  • Evaluate the impact on business of the legal, social, and economic environments
  • Understand the impact of the global environment on business
  • Describe the ethical obligations and responsibilities of business and evaluate ethical dilemmas

In-depth Knowledge for specific majors

Economics graduates of bachelor’s level programs will be able to:

  • Construct and use economic models to describe economic behavior
  • Use economic data to describe the economy and to test hypotheses

Curriculum

+Core Requirements

Core Major Requirements for Accounting, Economics, International Business, Management, Management Information Systems, and Marketing:

ACT222 Financial Accounting Principles I

This course represents an introduction to accounting principles including the accounting process, double-entry bookkeeping, adjusting entries, and the preparation of financial statements. The objectives of this course are to make students aware of the importance of accounting information in every type of organization (private business, not-for-profit, and governmental).

3
ACT223 Managerial Accounting Principles

This course represents an introduction to managerial accounting concepts, including cost allocation and measurement, cost/volume profit analysis, budgeting, variance analysis, job and process costing, and capital budgeting.

3
BUS105 Foundations of Business

The course combines the theory and practice of business and fosters analytical thinking. Students build a foundation for learning by gaining an understanding of business organizations, their structure and functions, the global setting in which they compete, environmental components and the challenges of an increasingly dynamic, complex work environment.

3
BUS110 Business Statistics

This course introduces essential research tools in business. Topics include descriptive statistics of central tendency and variability and hypotheses testing statistical analysis using correlation, analysis of variance, and regression. Problems use applications from business cases, marketing research, and economic policy.

3
BUS171 Information Systems and Operations

This course explores basic concepts of communication networks (e.g., the Internet), hardware, software, databases, and systems. Students apply information systems to decision making, communication, collaboration and coordination in the operations of contemporary organizations. Students gain skills in word processing, presentation software, data visualization, spreadsheets, and relational databases.

3
BUS230 Organizational Behavior

This course teaches students to understand, explain, and improve human behavior in organizations. Most organizations focus efforts on improving job performance and organizational commitment. The purpose of this course is to provide a theoretical foundation and realistic understanding of how human behavior influences the effectiveness of the modern corporation.

3
BUS243 Principles of Marketing

This course introduces students to the basic concepts of marketing strategy and management. Basic marketing concepts such as strategic segmentation, targeting, positioning, product design, pricing, promotions and distribution are covered. Environmental sustainability is analyzed from the consumer perspective.

3
BUS257 Business Law and Business Ethics

This course introduces students to the introductory concepts of business law including employment law, social and environmental responsibility of corporations, and international business law. It also emphasizes frameworks for conducting ethical analysis and the analysis of ethical dilemmas.

3
BUS272 Principles of Finance

This course enables students to apply fundamental ideas of financial economics to problems in corporate finance. Participants will gain an overview of valuation principles, learn basic principles of corporate finance from the perspective of a financial manager, and through case studies, analyze important financial decisions made within firms.

3
OR
BUS312 Marketing Research

Business leaders at all levels need to be intelligent designers and consumers of marketing research. The essential aspects of qualitative and quantitative marketing research design and execution are addressed with assigned readings, class discussions, homework problems, in-class exercises, cases, and a team led custom research study.

3
BUS357 Strategy and Entrepreneurial Ventures

This course illustrates the strategic management framework by taking students through the entrepreneurial process from start-up growth while exploring the personal and professional challenges. The student examines key issues in opportunity recognition, financing models, strategic choices, and sources of competitive advantage at different stages of the firm's development.

3
ECN101 Principles of Macroeconomics

The concepts of national income and output are analyzed, and emphasis is placed on factors that influence the levels of economic activity, unemployment, and inflation, including fiscal and monetary policy and the role of international economics.

3
ECN102 Principles of Microeconomics

Microeconomics is the study of how households and firms make decisions and how they interact in specific markets. Students are introduced to the basic concepts and tools that economists use to understand how the economy works. This course is designed to increase economic literacy through acquiring core knowledge about economics.

3
INTBUS303 Internship - Business

The Chatham University Internship program provides students with the opportunity to acquire hands-on work experience in a professional setting. The student gains metacognitive insights, deep learning, and practical skills by reflecting on the internship experience under the supervision of an academic advisor.

3
ECN490 Integrative Capstone

The integrative capstone, undertaken by the student during the senior year, is an extended project that helps the student complete their transition from an undergraduate student to a world-ready professional. The study usually centers on the student's major and may be conducted, at least in part, in the context of a group experience. Such programs are crafted to meet the unique needs of each major, and could include, for example, fieldwork, theater production, creative work in the arts, independent research, or independent readings. The integrative capstone in an interdisciplinary major must have the approval of both academic programs.

3

+Economics Major

5 courses

2 required courses:
ECN330 Global Financial System and the Macro Economy

Combines material on economic analysis of the macro economy with a review of the global financial system. Develops analytical models on how to attain economic growth, price stability, and full employment. Covers the financial system, financial crises, and monetary policy. Emphasizes both analytical models and real world policy applications.

3
ECN331 Managerial Economics

This course covers the application of intermediate microeconomic analysis to business decision making. It is designed to bridge economic theory and economic practice. Topics include consumer theory, production analysis, pricing strategy, and risk analysis.

3
3 courses from the following:
ECN262 Global Environmental Economics

This course examines the economic perspectives and tools for analyzing environmental problems and evaluating policy solutions. The course covers both conceptual topics and real-world applications. Course discussions reflect the global nature of environmental problems and solutions. Cross-listed as ENV 262. This course fulfills an environmental general education mission course requirement.

3
ECN351 International Trade and Finance

An introduction to international trade and finance, and an examination of the structure of international trade and the functioning of the international monetary system. Attention is given to recent issues in these areas and the relationship between the domestic and international economies.

3
ECN355 Economic Analysis of Public Policy

This course focuses on evaluating the rationale for government intervention in the economy and evaluating the efficiency, incentive, and distributional effects of government policies. Policies' impacts on issues such as how best to protect intellectual property, improve airline safety or control illegal immigration are also analyzed.

3
ECN358W Economic Development

An examination of the factors accounting for economic growth and development of modern economically developed nations and less-developed areas. A review of the problems encountered in initiating and sustaining the process of economic development. Major policy issues are discussed. This course fulfills a global general education mission course requirement.

3

+Intradisciplinary Major in Two Business Disciplines

Students who wish to do an Intradisciplinary major in two business concentrations must complete the Business Core Major Requirements, plus the following courses:

ECN330 Global Financial System and the Macro Economy

Combines material on economic analysis of the macro economy with a review of the global financial system. Develops analytical models on how to attain economic growth, price stability, and full employment. Covers the financial system, financial crises, and monetary policy. Emphasizes both analytical models and real world policy applications.

3
ECN331 Managerial Economics

This course covers the application of intermediate microeconomic analysis to business decision making. It is designed to bridge economic theory and economic practice. Topics include consumer theory, production analysis, pricing strategy, and risk analysis.

3
2 Approved Economics major electives

+Interdisciplinary Major in Economics

Students who wish to do an interdisciplinary major in a business area (Accounting, Economics, International Business, Management, or Marketing) and a non-business discipline will complete the following courses (10 courses, exclusive of Integrative Capstone):

BUS105 Foundations of Business

The course combines the theory and practice of business and fosters analytical thinking. Students build a foundation for learning by gaining an understanding of business organizations, their structure and functions, the global setting in which they compete, environmental components and the challenges of an increasingly dynamic, complex work environment.

3
ACT222 Financial Accounting Principles I

This course represents an introduction to accounting principles including the accounting process, double-entry bookkeeping, adjusting entries, and the preparation of financial statements. The objectives of this course are to make students aware of the importance of accounting information in every type of organization (private business, not-for-profit, and governmental).

3
BUS110 Business Statistics

This course introduces essential research tools in business. Topics include descriptive statistics of central tendency and variability and hypotheses testing statistical analysis using correlation, analysis of variance, and regression. Problems use applications from business cases, marketing research, and economic policy.

3
ECN101 Principles of Macroeconomics

The concepts of national income and output are analyzed, and emphasis is placed on factors that influence the levels of economic activity, unemployment, and inflation, including fiscal and monetary policy and the role of international economics.

3
ECN102 Principles of Microeconomics

Microeconomics is the study of how households and firms make decisions and how they interact in specific markets. Students are introduced to the basic concepts and tools that economists use to understand how the economy works. This course is designed to increase economic literacy through acquiring core knowledge about economics.

3
ECN330 Global Financial System and the Macro Economy

Combines material on economic analysis of the macro economy with a review of the global financial system. Develops analytical models on how to attain economic growth, price stability, and full employment. Covers the financial system, financial crises, and monetary policy. Emphasizes both analytical models and real world policy applications.

3
ECN331 Managerial Economics

This course covers the application of intermediate microeconomic analysis to business decision making. It is designed to bridge economic theory and economic practice. Topics include consumer theory, production analysis, pricing strategy, and risk analysis.

3
3 upper-level Economics electives

+Minor Requirements

6 courses, including:

ECN101 Principles of Macroeconomics

The concepts of national income and output are analyzed, and emphasis is placed on factors that influence the levels of economic activity, unemployment, and inflation, including fiscal and monetary policy and the role of international economics.

3
ECN102 Principles of Microeconomics

Microeconomics is the study of how households and firms make decisions and how they interact in specific markets. Students are introduced to the basic concepts and tools that economists use to understand how the economy works. This course is designed to increase economic literacy through acquiring core knowledge about economics.

3
4 Approved upper-level Economics electives

Contact

James Pierson

Program Director / Department Chair

j.pierson@chatham.edu

(412) 365 - 1615