ASSOCIATE PROFESSORS

Teresa Beckham Gramm. 1999. B.A., Agnes Scott College; Ph.D., University of North Carolina at Chapel Hill. (International economics.)
Dee Birnbaum. 1991. B.A., State University of New York at Stony Brook; M.B.A., Baruch College; M.Phil. and Ph.D., City University of New York. (General management, human resource management.)
Pamela H. Church. 1988. Director, M.S. in Accounting Program. B.S., M.S., University of Memphis; Ph.D., University of Houston. C.P.A. (Accountancy.)
Marshall K. Gramm. 2000. B.A., Rice University; Ph.D., Texas A & M University. (Applied microeconomics.)
Deborah N. Pittman. 1992. B.A., Rhodes College; M.S. and Ph.D., University. of Memphis. C.P.A., C.F.A. (Finance.)
John M. Planchon. 1986. A.B. and M.A., University of Missouri, Columbia; Ph.D., University of Alabama. (Marketing, marketing management, business policy.)

ASSISTANT PROFESSORS

Art Carden. 2006. B.S., M.A. University of Alabama; A.M. and Ph.D. Washington University in Saint Louis. (Economic history, economic development). 
Sarah M. Estelle. 2007. B.A., Hillsdale College; M.A., Ph.D., University of Virginia. (Economics of education, labor economics, public economics).
C. Nicholas McKinney. 2003. B.A., B.S., Centenary College of Louisiana; Ph.D., Texas A & M University. (Experimental economics, applied microeconomics.)

VISITING DISTINGUISHED PROFESSOR

Russell Craig. 2008. B.C., M.C., Ph.D., University of Newcastle, Australia. (Accountancy).

PART-TIME ASSISTANT PROFESSOR

Milton L. Lovell. 2003. B.S., J.D., University of Mississippi. LL.M., New York University School of Law. Partner, Burch, Porter & Johnson, PLLC. (Accountancy, taxation).

INSTRUCTOR

Michael Hammock. 2006. B.S. Berry College; M.S. Texas A&M University, Ph.D. (ABD), Emory University (Environmental economics, public choice.)
Ferron Thompson. 2001. B.A. Vanderbilt University; M.S. University of Memphis. C.P.A. (Accountancy.)

PART-TIME INSTRUCTORS

James Epley. 2008. B.S., University of Tennessee; M.A., University of Memphis. Stonier Graduate School of Banking at Rutgers University.
James D. Schultz. 2008. B.S., M.B.A., Central Michigan University. Ph.D. candidate, University of Memphis. (Finance.) 
Travis E. Smith. 2008. B.S., University of North Alabama; M.A., University of Mississippi; Executive Program, Kellogg School of Management at Northwestern University. C.P.A. (Accountancy).

STAFF

Linda Gibson. Departmental Assistant. B.A., Vanderbilt University; M.L.S., George Peabody College.

The Department of Economics and Business offers three majors to meet students’ particular interests and career goals: Economics, Business, and Economics and Business. There are two tracks within the Business major: General Business and International Business. In addition, interdisciplinary majors are offered in Economics and International Studies and in Mathematics and Economics.

Master of Science in Accounting. A more concentrated study of accounting may be undertaken in the M.S. in Accounting Program offered by the Department of Economics and Business. Students who have completed an undergraduate degree in the Department of Economics and Business and who have taken the appropriate accounting courses can finish the requirements of the M.S. in Accounting degree in two additional semesters of study. For a complete listing of courses and degree requirements in the M.S. in Accounting program, see the section on Master of Science in Accounting.

REQUIREMENTS FOR A MAJOR IN ECONOMICS

A total of forty-eight (48) credits as follows:

1. Economics 101-102, 290, 302, 307, 420, 486.
2. Four courses from Economics 205, 210, 265, 312, 323, 331, 333, 339, 407 with at least one course from Economics 312, 323, 331, 333, 339.
3. Mathematics 115 or 121. (For graduate study, Math 121 and 122 should be considered.)
4. Recommended: Mathematics 121, 122. Students planning on attending graduate school should consider the Mathematics and Economics interdisciplinary major.

REQUIREMENTS FOR A MAJOR IN BUSINESS

General Business Track
A total of fifty-two (52) credits as follows:

1. Economics 101-102, 290, 307.
2. Business 241, 243, 351, 361, 371, 486.
3. One course from each of two of the following areas:
    a. Accounting: Business 341.
    b. Finance: Business 452, 454.
    c. Management: Business 463, 466.
    d. Marketing: Business 472, 473.
4. Mathematics 115 or 121.
5. Recommended: Mathematics 107, Philosophy 304, Political Science 218, INTD 240.

International Business Track
A total of fifty-six (56) credits as follows:

1. Economics 101-102, 290, 307.
2. Business 241, 243, 351, 361, 371, 486.
3. Three courses from Business 454, 463, 473, Economics 210.
4. Mathematics 115 or 121.
5. Foreign Language proficiency in or completion of course of study in a foreign language through the second full year at the college level.
6. Recommended: Mathematics 107, Philosophy 304, Political Science 218, INTD 240.

REQUIREMENTS FOR A MAJOR IN ECONOMICS AND BUSINESS

A total of sixty-four (64) credits as follows:

1. Economics 101-102, 290, 307, 420, 486.
2. Business 241, 351, 361, 371, 486.
3. One course from Economics 205, 210, 265, 312, 323, 331, 333, 339, 407.
4. One course from each of two of the following areas:
    a. Accounting: Business 341.
    b. Finance: Business 452, 454.
    c. Management: Business 463, 466.
    d. Marketing: Business 472, 473.
5. Economics 302 or Bus 243.
6. Mathematics 115 or 121.
7. Recommended: Mathematics 107, Philosophy 304, Political Science 218, Interdisciplinary 240.

REQUIREMENTS FOR A MINOR IN ECONOMICS

A total of twenty (20) credits in Economics as follows:  

1. Economics 101 and 102.
2. Three electives from the following courses: Economics 205, 210, 265, 312, 323, 331, 333, 339, 407, 420. 3. Students who major in Business may not minor in Economics.

REQUIREMENTS FOR A MINOR IN BUSINESS

A total of twenty (20) credit hours as follows:

1. Economics 101 and 290.
2. Business 241.
3. Two of the three courses in: Business 351, 361, 371.
4. Students who major in Economics may not minor in Business.

HONORS IN ECONOMICS

1. Requirements for a major in Economics.
2. Economics 495-496 (instead of Economics 486).
3. A substantial research paper in an area of special interest to the candidate.
4. An oral examination on the research paper.

All honors students must meet eligibility criteria established for the Honors Program.

HONORS IN BUSINESS

1. Requirements for a major in Business.
2. Business 495-496.
3. A substantial research paper in an area of special interest to the candidate.
4. An oral examination on the research paper.

All honors students must meet eligibility criteria established for the Honors Program.

COURSE OFFERINGS

Generally, courses with numbers ending in 00 through 39 are economics courses, those ending in 40 through 79 are business courses, and those ending in 80 through 99 may be either economics or business courses. Within business, the course numbers indicate the particular area: 40s-accounting and related areas, 50s-finance, 60s-management, and 70s-marketing.

ECONOMICS

101-102. Introduction to Economics.
Fall, Spring. Credits: 4.
Degree Requirements: Social Science.
Degree Requirements for Economics 101: F2 (some sections), F8.
A survey of economic analysis and institutions combining economic theory with a discussion of applications to the U. S. economic system for majors and non-majors. First semester (microeconomics): Study of the behavior of consumers and firms in competitive and noncompetitive markets, and the consequences of this behavior for resource allocation and income distribution. Consideration of government’s role in competitive and noncompetitive markets. Second semester (macroeconomics): Study of the determination of the domestic levels of income, output, employment and prices; study of international trade and finance. Consideration of economic growth and international trade. Must be taken in sequence, but students can take Economics 101 without taking 102.

205. Public Economics.
Spring. Credits: 4.
An examination of public sector economics. The structure of the major revenue raising and expenditure operations of the government will be analyzed using microeconomic tools to determine their allocative and distributive effects. Additional topics include an introduction to public choice theory and an examination of market failures and public policy responses to them. (Normally offered in alternate years.)
Prerequisites: Economics 101-102 or may be taken concurrently with Economics 102.

210. International Economics.
Fall. Credits: 4.
A study of the theory, institutions, and commercial policies of international trade and finance. Barriers to free trade; private and public policies; international monetary problems and solutions with emphasis on balance-of-payments disequilibrium, its causes and adjustments and the current need for international liquidity and monetary reform.
Prerequisites: Economics 101-102.
265. Topics in Economics.
Fall, Spring. Credits: 1-4.
Content of the course varies with instructor. The course may be repeated for credit as long as topics covered are different.
Prerequisites: Economics 101-102 and permission of the instructor.

290. Statistical Analysis for Economics and Business.
Fall, Spring. Credits: 4.
Degree Requirements: F6.
Drawing conclusions from limited information is a common characteristic of decision making in economics and business. Although this course is designed to introduce the student to basic concepts of probability and statistics as applied to topics in Economics and Business, emphasis will be placed on the use of statistical inference to reduce the impact of limited information or uncertainty in decision-making. Topics will include descriptive statistical measures, probability, random variables, probability distributions, sampling distributions, point and interval estimation, hypothesis testing, time series analysis, regression and the use of index numbers.
Prerequisites: Economics 101.

302. Intermediate Macroeconomic Theory.
Fall. Credits: 4.
A study of the determinants of national income, its fluctuation and growth. Contemporary fiscal and monetary theories are analyzed in connection with the causes and control of economic growth and fluctuations.
Prerequisites: Economics 101-102.

307. Managerial Economics.
Fall, Spring. Credits: 4.
Development and practical application of tools of supply, demand, cost, capital, and profit analysis, including quantitative models, to decision-making in a business enterprise. Additionally, a study of the problems of economic measurement and forecasting methods, business planning, product strategy, and location analysis. Extensive use of cases.
Prerequisites: Economics 101-102, and 290.

312. Economic Development.
Spring. Credits: 4.
Problems of economic development and growth; interaction of economic and non-economic factors, population and the labor force, capital requirements, market development, foreign investment and aid, and role of government. Comparison of the growth of advanced and developing economies. Policy measures to promote development and growth.
Prerequisites: Economics 101-102.

323. Classical and Marxian Political Economy.
Spring. Credits: 4.
The writings of Adam Smith and of Karl Marx had a profound and lasting influence on the way people think about the world. The Industrial Revolution that took place in the interim between the publications of the works of these two thinkers literally changed the world. This course focuses on the most important works of Smith and Marx and on the economic events taking place in eighteenth and nineteenth century England that continue to affect the way we think and live. The works of other Classical Economists are also examined.
Prerequisites: Economics 101-102 or may be taken concurrently with Economics 102.

331. Labor Economics.
Spring. Credits: 4.
Degree Requirements: Social Science.
This course covers standard labor economic theory. Topics include market equilibria, the demand for and supply of labor (including human fertility, human capital, hours of work, and labor force participation), wage levels and differences (including discrimination) and unions and government as labor market forces.
Prerequisites: Economics 101.

333. Health Economics.
Credits: 4.
Degree Requirements: Social Science.
This course covers standard health economic theory. Economic aspects of the production, distribution, and organization of health care services, such as measuring output, structure of markets, demand for services, pricing of services, cost of care, financing, mechanisms, and their impact on the relevant markets. (Course offered in alternate years; scheduled for 2009-2010.)
Prerequisites: Economics 101.

339. Economic History.
Fall. Credits: 4.
Degree Requirements: F2, F3
This course uses the tools of economic analysis to explore the long-run determinants of economic growth and the implications for policymaking today. Focus is on long-run economic change and the development of the American economy. Specific topics include the history and development of economic institutions, the American colonial experience, early American industrialization, slavery, the Progressive Era, the Great Depression, and the Southern economy. Course includes a trip to the downtown Cotton Museum. (Course offered in alternate years; scheduled for 2009-2010.)
Prerequisites: Economics 101. Economics 102 highly recommended.

407. Game Theory.
Credits: 4.
The issues of strategic interaction and information asymmetry have come to the forefront of virtually every functional field in economics and business. This course represents an introduction to how game theory is used as a tool to model and to solve questions of strategy as they arise in a variety of economic situations and events in the world. Modeling topics to be covered are strategic and extensive form games, Bayesian decision-making, and evolutionary stability. Possible applications include bargaining, international collective action, the credibility of macroeconomic policy, learning, and signaling. (Course offered in alternate years; scheduled for 2009-2010.)

420. Econometrics.
Fall, Spring. Credits: 4.
Economic theory is mainly concerned with relations among variables. Econometrics is concerned with testing the theoretical propositions embodied in these relations to show how the economy operates, and with making predictions about the future. Topics covered in this course include the general linear model, qualitative variables and time series analysis.
Prerequisites: Economics 101-102, 290, and Math 115 or 121.

475. Interdisciplinary Senior Seminar in Economics and International Studies.
Fall. Credits: 4.
Senior Seminar offers students the opportunity to integrate and extend their understanding of the various areas of International Studies and Economics. The course will be taught through a collaboration of one instructor from the International Studies Department and one Economics instructor. The student will participate in the International Studies Senior Tutorial and meet with the Economics instructor in order to prepare a Senior Paper on a topic of the student’s choice and both faculty members’ approval. Students will present their completed research in the Senior Seminar in Economics in the following semester. The course is open to Economics and International Studies Interdisciplinary majors only.
Prerequisites or Corequisites: Economics 420 and senior standing.

486. Senior Seminar in Economics.
Spring. Credits: 4.
Senior Seminar offers students the opportunity to integrate and extend their understanding of the various areas of economic theory and policy studied as an Economic Major. The focus of the seminar is development of the ability to critically appraise analytical models’ appropriateness and usefulness. Students will discuss, present and defend economic policy and research.
Prerequisites: Economics 290, 307 and 420 or permission of the instructor; senior status.

495-496. Honors Tutorial.
Fall, Spring. Credits: 4-4.
Open to candidates for Honors in Economics or Business.
Prerequisites: Departmental permission.

BUSINESS

241. Financial Accounting.
Fall, Spring. Credits: 4.
Principles of financial accounting that are used to communicate financial information to external parties. The study of financial accounting provides a strong foundation for future courses in business and finance. The student is introduced to accounting concepts, how to record transactions for the three legal forms of business organizations, and how to prepare financial statements. Use is made of tutorial software.

243. Cost Accounting.
Fall, Spring. Credits: 4.
Analysis of cost accounting techniques and applications relative to managerial planning, control, and decision-making. Topics include measurement of unit costs, control of operating costs, incremental decision-making, production cost reports, cost variances, and profit planning. Computer spreadsheets and cases are used to analyze cost accounting data and to simulate managerial accounting decisions.
Prerequisites: Business 241.

246. Law of Basic Commercial Transactions.
Fall or Spring. Credits: 4.
Introduction to legal concepts in those areas of the law essential to commercial transactions, including creation and performance of contracts for the sale of goods and other property, negotiable instruments, real and personal property, leases, and wills and estates. The course will be taught largely utilizing the case method and problem approach, with an emphasis on how legal concepts are applied to specific factual situations.

260. Career Planning.
Fall, Spring. Credits: 2.
This course provides an opportunity for sophomores and juniors across the curriculum to begin to contemplate how they can apply the skills and knowledge they have acquired in their coursework thus far, and the courses they plan to take in the future, to a real-world organization. Through off-campus shadow experiences and a self-assessment, students explore who they are, what they want, what their life’s work should be and whether there are opportunities for positions in work organizations that match their interests and abilities. To qualify for this course, the students must have completed at least one full year of undergraduate coursework. A maximum of four credits may be earned.

261. Business Ethics.
Fall or Spring. Credits: 4.
Degree Requirements: Humanities.
Topics covered in this course include: ethical theory, gender and diversity issues, worker safety, international business ethics, regulation, insider trading, product safety, labor conflict and strikes, and a number of others that are either programmed or raised by students. Students will be called upon to understand and apply philosophical, economic and sociological concepts related to ethical reasoning and argument to business decision-making and conduct. Case material, videos, class discussion, and student presentations will be used to supplement readings.

265. Topics in Business.
Fall, Spring. Credits: 1-4.
Content of the course varies with instructor. The course may be repeated for credit as long as topics covered are different.
Prerequisites: Economics 101-102 and permission of the instructor.

268. New York City Field Experience.
Spring. Credits: 1.
During a tour lasting three days in early January, students will visit corporate offices in New York City and listen to their executives explain the variety of career paths available in finance, marketing, and strategy. From the company visits and alumni networking events, students will experience first-hand what New York and Wall Street-based careers entail. Topics to be covered during company visits will include investment banking, equity research, hedge funds, trading operations, strategy, and brand management. The program is especially designed for first-year students and sophomores (but also open to juniors), who are uncertain of their career paths, but know that they are interested in business.

283. Introduction to International Business Cases.
Maymester. Credits: 4.
Degree Requirements:  F11.
Course is a combination of lectures, case discussion, and site visits.  Lectures on international business including strategy, finance, marketing and management within the context of the European Union will form the basis for class discussion of business cases.  Following work on business cases, students will visit business sites for discussion of the businesses’ strategies and performances with firm officials.  The course is offered in Antwerp, Belgium.  Cases and site visits will vary from year to year.  (Same as International Studies 283.)
Prerequisites:  Economics 101 and admission to summer study abroad program for Business 283.  Business 283 is not open to students who have completed any prerequisites for Business 483.

341-342. Intermediate Accounting Theory.
Fall, Spring. Credits: 4-4.
Accounting theory, from both the theoretical and practical viewpoints. Covers the foundation of accounting theory, the accounting and reporting process, and the impact of the recent pronouncements from FASB, AICPA, AAA, and SEC. Should be taken in sequence.
Prerequisites: Economics 101-102 and Business 241. Business 243 recommended.

345. Federal Income Tax.
Fall. Credits: 4.
An introduction to the principles of taxation applicable to individuals and businesses, including determination of income, deductions, exemptions, capital gains and losses, depreciation, employee expenses, alternative minimum tax, and property transactions. The course emphasizes taxation of individuals, but introduces corporate and partnership taxation as well. Coverage includes the theory and purpose of taxation, the impact of taxes on management decisions, and the evolution of the tax system over time. A computer tax service and a computer tax preparation program are utilized for tax research and simulation of financial decisions involving complex tax issues.
Prerequisites: Economics 101-102 and Business 241. 

351. Corporate Financial Management.
Fall, Spring. Credits: 4.
The main objectives of the financial manager are to plan for, acquire, and use funds in an efficient manner in order to maximize the value of the firm. This course introduces the discounted cash flow model, modern portfolio theory, the capital asset pricing model, and the static theory of capital structure. Major topics covered include decision-making under uncertainty, cost of capital and valuation, history of capital markets, and financial analysis. Students are introduced to computerized financial spreadsheets, case studies, and contemporary financial issues.
Prerequisites: Economics 101-102, 290, and Business 241.

360. Internship.
Fall, Spring. Credits: 2 or 4.
Degree Requirements: F11.
The internship provides an experiential approach to the learning process and affords students the opportunity to work in both business and nonprofit organizations for academic credit. Internship placements are designed to complement learning goals and career plans by allowing the student to apply skills and knowledge acquired in the traditional classroom. Placements are arranged by the Director of Career Services and work schedules are arranged by the student and the on-site supervisor. Typically students work on specific projects related to their career interest and compatible with the goals and interests of the sponsoring organization.

Other requirements of the internship include submission of a resume and application, interview with the on-site supervisor, participation in classroom seminars which focus on long-term career planning and job search skills, completion of written self-assessment assignments made by the instructor, and the writing of an internship journal. Internships are available to students across the curriculum that have achieved sophomore status and have completed courses applicable to the requirements of the internship site. Most internships require completion of at least one writing-intensive course. Arrangements for internships are made the semester prior to the actual experience. Prerequisite courses appropriate to the specific internship experience are required. Under special circumstances, the number of credit hours may vary from 1 to 4, but under no circumstances will more than 8 credits be allowed to count toward the credits required for graduation.

361. Management of Organizations.
Fall, Spring. Credits: 4.
Survey of organizational behavior and organization theory. Initially, the course covers fundamental issues such as theory construction, the difference between theoretical and non-theoretical models and theory testing as a basis for analyzing management models. The second part of the course focuses on micro issues such as theories of work motivation, leadership and selected topics such as tokenism and political behavior. The third part of the course deals with macro issues such as organizational structure, technology/work design, intra-organizational conflict, and the organizational/environmental interface. Throughout the second and third parts of the course, both theory application and theory evaluation are emphasized.
Prerequisites: Economics 101 or permission of instructor.

371. Marketing Management I.
Fall. Credits: 4.
An introduction to the study of marketing as an exchange process: the theoretical underpinnings of how transactions in the marketplace are initiated, motivated, facilitated, and consummated. Topics include the basic role marketing plays in the economy; the ways marketing is planned and executed; students gain experience in applying marketing theory by competing in a computer simulation.
Prerequisites: Economics 101 or the permission of the instructor.

448. Auditing.
Spring. Credits: 4.
Conceptual approach to auditing process, procedures, communications and professional environment which includes auditing standards, legal responsibilities and professional ethics.
Prerequisites: Business 341-342.

452. Cases in Managerial Finance.
Credits: 4.
Application of financial theories introduced in Financial Management (Business 351) to actual business problems using quantitative and qualitative techniques. Presented with debatable alternatives, students analyze, choose, and defend their ideas and a course of action. Financial theories are reexamined in conjunction with their related cases. Case topics include financing current operations, long-term financing, investment decisions, signaling with dividend and debt policies, and mergers and acquisitions. Contemporary corporate financial issues are examined, as well as financial ethics. Extensive creation of computerized financial spreadsheets. Students are organized into teams for case preparation. (Course not offered in 2008-2009; see Business 485.)
Prerequisites: Business 351.

454. International Finance.
Spring. Credits: 4.
This is a Global Capital Markets course, structured to provide a financial background in the fixed income area of the finance. An understanding of fixed income capital markets includes an understanding of foreign exchange rate determination and interest rate determination, and derivatives, and these topics will introduce the course. Fixed income securities such as money market instruments and bonds will then be presented, alongside the derivatives that relate to these underlying securities. More complex instruments, such interest rate swaps, credit default swaps, and CMOs/CLOs will also be addressed.
Prerequisites: Business 351.

455.  Global Capital Markets.
Spring. Credits: 2
Course will focus on derivatives (forward markets, futures markets, options markets, and swap markets) on underlying positions in the foreign exchange market, the fixed income market, and stocks. Students will be introduced to how these instruments can be used to manage risk and how they are priced, including the Black & Scholes Pricing Model.
Prerequisites:  Business 351 and acceptance into the summer study abroad program for Business 483.

460. Internship.
Fall, Spring. Credits: 2 or 4.
Degree Requirements: F11.
 The internship program provides an experiential approach to the learning process and affords economics and business students the opportunity to work in both business and nonprofit organizations for academic credit. Internship placements are designed to complement learning goals and career plans by allowing the student to apply theoretical principles learned in the traditional classroom. Placements are arranged by the Director of Career Services and work schedules are arranged by the student and the on-site supervisor. Typically students work on specific projects related to their career interest and compatible with the goals and interests of the sponsoring organization. Other requirements of the internship include submission of a resume and application, interview with the on-site supervisor, participation in classroom seminars which focus on long-term career planning and job search skills, completion of written self-assessment assignments made by the faculty director, and the writing of a comprehensive paper.

Internships are available to second-semester junior and senior economics or business majors with possible availability to majors from other departments. Arrangements for internships are made the semester prior to the actual experience. Under special circumstances, the number of credit hours may vary from 1 to 6, but under no circumstances will more than 8 credits be allowed to count toward the credits required for graduation.
Prerequisites: Courses appropriate to the specific internship experience.

461. Internships.
Fall, Spring, Summer. Credits: 1.
This internship course is available for students unable to take the class component of Business 460. The program provides an experiential approach to the learning process and affords economics and business students the opportunity to work in both business and nonprofit organizations for academic credit. Students are encouraged to explore areas of possible career interest through internships. Students must work directly with a professor in the Economics/Business Department on an internship that applies the theoretical work taught in classes by that professor. There are requirements for the sponsoring organization and for the student. The student must submit a resume, an application, an interview with the on-site supervisor, and provide a journal, an essay, and any other assignments required by the supervising professor. This internship program is limited to majors in this department. The course must be taken pass/fail.

463. International Management.
Fall. Credits: 4.
Explores the application of management models to international business decisions in the areas of work design, organizational structure, strategic planning and human resource/personnel management. The focus is on the usefulness of contemporary models across diverse cultural settings as indicated by recent empirical research.
Prerequisites: Business 361.

465. Advanced Topics in Business.
Fall, Spring. Credits: 4.
Content of course varies with instructor. The course may be repeated as long as topics covered are different.
Prerequisites: Vary with course; permission of instructor.

466. Personnel and Human Resource Management.
Fall. Credits: 4.
An introduction to the functions of personnel/human resource management. Topics covered include human resource planning, training and development, wage and salary administration, selection instrument validation, employee performance evaluation, and employee relations. Special attention is given to the use of information systems for managing personnel functions. A computer/library project that focuses on the relationship between work attitudes and work behavior is required.
Prerequisites: Business 361 and Economics 290 (or Psychology 211).

472. Cases in Market Strategy and Value Analysis.
Credits: 4
Focus is on the management of the marketing process in order to develop effective strategies to create consumer value and on the components of market and environmental analysis: customer and competitor, industry, government, and the business itself. Through the use of case studies and computer application, attention is given to the development of an analytical structure for determining acceptable marketing strategies and their financial value. (Course not offered in 2008-2009; see Business 485.)
Prerequisites: Economics 290 and Business 243 and 371.

473. International Marketing.
Spring. Credits: 4.
    An introduction to the global marketing environment, with an examination of how international business variables affect the marketing process. Objectives include understanding the differences between domestic and international marketing, providing a framework for analyzing major risks and opportunities in foreign markets, and developing techniques for preparing and implementing strategic marketing plans through the use of case studies.
Prerequisites: Business 371.

474.  Global Context for Marketing Strategy.
Spring. Credits: 2
     Building upon concepts of marketing strategy, the course provides a background in cultural, social, political and legal forces affecting international marketing strategy.  Global marketing opportunities are examined for both consumer and business market, and various global market entry strategies as well as marketing program decisions are examined.
Prerequisites:  Business 371 and acceptance into the summer study abroad program for Business 483.

483. Advanced International Business Cases.
Maymester. Credits: 4.
Degree Requirements: F11.
Course is a combination of lectures, case analyses, and site visits.  Lectures on international business including strategy, finance, marketing and management within the context of the European Union will form the basis for written case analyses and oral presentations.  Following case completion, students will visit business sites for discussion of the businesses’ strategies and performances with firm officials.  Students enrolled in this course will be required to complete detailed and sophisticated case analyses drawing upon prerequisite course work as well as course lectures.  The course is offered in Antwerp, Belgium.  Cases and site visits will vary from year to year.
Prerequisites:  One of the following: Business 351, 361, 371; or Business 455 and 474; and admission into the summer study abroad program for Business 483.

485. Cases in Asset Valuation and Business Strategy.
Fall, Spring. Credits: 8.
The purpose of the course is to gain insight into how financial and strategic decisions are interrelated and how careful analyses should lead to maximizing shareholders’ wealth and creating sustainable competitive advantages. Cases are used to move beyond mere description and analysis, and toward normative thinking and decision-making, as well as growth in judgment. There will be a consistent focus on valuation modeling and economic analysis as a foundation for corporate financial decision-making. Students will acquire proficiency in analytical techniques to make financial and strategic decisions and will develop skills of working together in groups to attain a common goal. There will also be an emphasis on writing in a logical and persuasive manner and on presenting recommendations orally along with PowerPoint slides created by the students. Will be offered for seniors in Fall 2008 and juniors in Spring 2009.

Business 485 (8 credits) will fulfill both Business 452 and 472, wherever they are listed as requirements for a major.
Prerequisites: Business 351 and 371.

486. Senior Seminar in Business.
Spring. Credits: 4.
Two versions of this course will be offered with different emphases. Version one is a study of the theory and practice of setting and administering business policy. This course integrates the student’s previous study of economics and business. Emphasis is on appraising a company’s performance and strategy considering general social and economic conditions, as well as the internal conditions of the firm; developing objectives, policies and plans; and developing, guiding, and maintaining an administrative organization to carry out the plans and meet the objectives.

Version 2 will help students to understand the research process. The central assignment for this course is to define a research project and to design a set of methods to thoroughly investigate a topic that each student has selected for herself/himself. The process will start with a thorough search of library databases for background material on a topic to gain a comprehensive foundation for further research. Then, students will learn how to design methods for data collection and analysis and how to interpret their findings. Once students become more familiar with the research process, they will learn to evaluate the research of others and will become more savvy consumers of research information.
Prerequisites: Economics 290, Business 243, 351, 361 and 371; senior status.