Business Economics
Faculty
Description
Major Requirements
Program Policies
Course Descriptions
Faculty
Cristina Parsons, Assistant Professor of Economics (Program Chair)
V.R. Nemani, Associate Professor of Business Administration
Sheila Barry-Oliver, Assistant Professor of Business Administration
Emilio Iodice, Assistant Professor of Business Administration
Rhonda Jones, Assistant Professor of Business Administration
Mary Reinstma, Assistant Professor of Economics
John Volpe, Assistant Professor of Economics
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Description
The Business Economics major offered in the College of Arts and
Sciences provides students with both the theoretical and applied
knowledge that they will need in order to compete in today's rapidly
changing global and national business environment. Grounded in the study
of economic theory and focused through the study of
traditional business knowledge in business theory, accounting, and
management, this program prepares students to enter the corporate
workforce or to pursue graduate studies leading to an M.B.A.
Students develop the ability to examine and assess complex business
situations from multiple perspectives, to make decisions based on solid
theory and knowledge, and to implement strategies leading to successful
outcomes. The major relies primarily on two disciplines - Economics and
Business Administration - in order to ensure that students are equipped
to become ethical and effective members of the business communities they
inhabit.
The major requires students to complete 54 credits of course work,
distributed among required courses (33 credits), elective courses (18
credits) and a senior seminar in either business or economics (3
credits).
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Major Requirements
Required Courses (33 credits)
ALL of the following economics courses:
ECON 101 Introduction to Microeconomics
ECON 102 Introduction to Macroeconomics
ECON 311 Microeconomic Theory or ECON 323 Managerial Economics
ECON 312 Macroeconomic Theory
ALL of the following business courses:
BADM 101 Introduction to Business
BADM 221 Financial Accounting
BADM 223 Managerial Accounting
BADM 231 Theory and Practice of Marketing
BADM 251 Management and Leadership Development
BADM 325 Business Financial Management
ONE course in business ethics:
PHI 213 Business and Professional Ethics
Elective courses (18 credits)
THREE additional courses in economics at the 200-level or above
THREE additional business courses at the 200-level
or above
Senior Seminar (3 credits)
ONE senior seminar chosen from the following:
BADM 499 Senior Seminar in Business
ECON 499 Senior Seminar in Economics
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Program Policies
Advanced Placement:
Advanced Placement scores of 4 or 5 will be accepted for credit to satisfy
ECON 101 and ECON 102 only.
CLEP Policy:
Standard scores and above are accepted in the CLEP examination only in consultation
with the Program Chair.
Cross-listed Courses:
Courses that are cross-listed represent identical courses offered with a
different program prefix. Students may not enroll in or receive credit for
more than one iteration of a cross-listed course even in different semesters.
Grades in Major Courses:
Majors must maintain a minimum cumulative GPA of 2.0 in their major.
Majors must receive a grade of "C" or better in required courses.
Pass/No Pass:
With the exception of internships, courses fulfilling a major or minor requirement
may not be taken pass/no pass.
Senior Assessment:
The senior assessment for business economics majors is a component
of BADM 499 or ECON 499. The relevant policies of the Business Administration
and Economics Programs apply. Transfer Credits:
Transferring students who wish to major in business economics must
take at least six business and economics courses at Trinity College, one
of which must be BADM 499 or ECON 499. Acceptance of transfer courses is
dependent upon program review and approval.
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Course Descriptions
Business Courses
The listings below provide course descriptions for required courses
only. Refer to the Undergraduate Business
Administration Program for descriptions of elective courses.
BADM 101 Introduction to Business
Provides students with an overview of the functions and operations of business organizations. Topics discussed include forms of business ownership, research and development, marketing, finance, accounting, production, materials management, and human resource management.
Formerly BUA 105 Introduction to Business.
3 credits
BADM 221 Financial Accounting
Introduces students to the principles and concepts of financial accounting, including Generally Accepted Accounting Principles (GAAP). Students learn to prepare income statements, balance sheets, and statements of owner's equity and cash flow. A strong emphasis is placed on the accounting cycle and on the preparation and interpretation of financial statements. Typically offered only in the fall semester.
Formerly ACC 235 Financial Accounting.
3 credits
BADM 223 Managerial Accounting
Introduces the theory and practice of management accounting. Students learn to prepare budgets, the statement of goods manufactured, income statements for manufacturing concerns, and other internal reports. Topics include cost behavior analysis, job order costing, process costing, standard costing, variance analysis, responsibility accounting, strategic cost management, and capital budgeting.
Formerly ACC 236 Managerial Accounting.
3 credits
BADM 231 Theory and Practice of Marketing
Addresses the principles and processes in the marketing of consumer goods and services and the organizational and environmental variables that have to be managed in order to be successful. Course materials focus on the essential components of the marketing mix, including product development, distribution, pricing policies, and promotional strategies.
Formerly MKT 221 Theory and Practice of Marketing.
3 credits
BADM 251 Management and Leadership Development
Discusses the principles, concepts, and practice of management. Through participation in experiential exercises such as simulations, role-playing, and team activities, students learn how to be more effective managers and leaders, with a focus on personal awareness and growth and on building effective working relationships.
Formerly MGT 254 Management and Leadership Development.
3 credits
BADM 325 Business Financial Management
Introduces the theory and practice of business financial management. Discusses the techniques of financial management such as discounted cash flow, financial statement analysis, cost of capital, capital budgeting and leverage. Capital market theory and functions of capital markets are also examined.
Formerly BUA 324 Business Financial Management.
3 credits
Prerequisite: BADM 223
BADM 499 Senior Seminar
Integrates the functional areas of business, international business, and
professional ethics, with a strong emphasis on the synthesis of knowledge
and skills gained throughout the business administration curriculum and
on understanding how strategic decisions affect the performance of organizations.
The course relies heavily on case study analyses and assists in preparing
students for entry into the business world or graduate studies. Formerly
BUA 480 Senior Seminar.
3 credits
Prerequisites: All functional core courses
Economics Courses
The listings below provide course descriptions for required courses
only. Refer to the Economics Program for
descriptions of elective courses.
ECON 101 Introduction to Microeconomics
Introduces principles of microeconomics and their applications. Topics include
supply and demand, operation of markets, consumer and enterprise behavior,
competition and monopoly, and microeconomic policy. Formerly ECO 122 Principles
of Economics I.
3 credits
Prerequisites: MATH 108 or MATH 109, or equivalent
FLC Area V
Core II
ECON 102 Introduction to Macroeconomics
Introduces principles of macroeconomics, emphasizing such topics as national
income, unemployment, inflation, and economic growth. The role of policy
in affecting macroeconomic outcomes is examined in detail. Formerly ECO
121 Principles of Economics II.
3 credits
Prerequisites: ECON 101 and MATH 108 or MATH 109, or equivalent
FLC Area V
Core II
ECON 311 Microeconomic Theory
Examines the behavior of individual economic agents. Develops models of
consumer and producer behavior in the setting of perfect competition, monopoly,
and other market structures. Formerly ECO 365 Microeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 312 Macroeconomic Theory
Examines the economy from the aggregate point of view. Analyzes the factors
that cause fluctuations in important economic variables such as output,
employment, consumption, investment, the price level, interest rates, and
exchange rates. Formerly ECO 366 Macroeconomic Theory.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 323 Managerial Economics
Develops in students the capacity to analyze the economic environment in
which firms make decisions, as well as to apply economic reasoning to organizations'
internal decision making. In doing so, this class bridges the gap
between economic theory and practice.
3 credits
Prerequisites: ECON 101 and ECON 102
ECON 499 Senior Seminar in Economics
Develops advanced macroeconomic and microeconomic theory and applies it to current issues. Requires a major research paper.
Formerly ECO 480 Senior Seminar in Economics.
3 credits
Prerequisites: ECON 101, ECON 102, ECON 311, and ECON 312
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