The study of economics develops analytical skills that are applicable to many jobs, including careers in business and government. An economics major also provides an excellent background for graduate study in:
- public administration
Many students elect to pursue dual majors in the Breech School, with a dual major in economics and finance being particularly commonplace.
The Economics major requires a minimum of 63 credit hours.
BBA Tool Courses (25 hrs.):
All students pursuing a BBA degree with a major in economics are required to complete the following tool courses:
Introduces the student to the role of accounting in a global society. Principles and concepts of financial accounting. Analysis of accounting statements, and accounting cycles and procedures: receivables, inventories and fixed assets.
Prerequisite: Day - ACCT 209, MGMT 170. CCPS - ACCT 209, GSTU 210 or GSTU 211.
This course provides an introduction to concepts essential to managerial decision-making as well as the tools and techniques of financial statement analysis with an emphasis on the use of financial statements for external and internal decision-making. Among the topics covered are profitability and ratio analysis, cash flows analysis, present value, inventory costing, cost-volume-profit analysis, variance calculation, and budgeting.
Students will be introduced to the way market economies deal with the universal problems of resource scarcity. They will use economic models to evaluate market processes and government policies. The course provides an introduction to microeconomics and macroeconomics.
It is strongly recommended that students have completed one year of high school algebra in order to be successful in this course. A course to acquaint the student with the basic ideas and language of statistics including such topics such as descriptive statistics, correlation and regression, basic experimental design, elementary probability, binomial and normal distributions, estimation and test of hypotheses, and analysis of variance.
An introduction to the fundamental concepts and principles of business enterprise and economics. Introduction to the functions of a business organization. Basic research methods, written and oral reports, discussion of current business, and economic developments. Global business awareness.
Students completing a major in accounting, economics, finance, management, or marketing; or a minor in business administration, are expected to possess computer proficiency in critical business productivity tools (word processing, spreadsheet and presentation). Competency will be assessed through the administration of a proficiency exam. S/U grading. Course fee required.
Prerequisite: MGMT 170, MATH 227. Study of common techniques for quantitative analysis and decision making including probability distributions, forecasting models, multivariate correlation and regression, linear programming, queuing analysis and simulation. Team and individual research and problem solving, report writing and oral presentations. Critical evaluation of assumptions in decision making including qualitative considerations.
Provides with the base level understand and quantitative foundation needed for data analytics. It will include a discussion of key topics such as big data, analytics (including predictive/prescriptive), machine learning, Internet of Things, data mining and data science. The course will begin by examining these key topics, then move into an in-depth focus on the analytical process. Using case studies and application to real world scenarios students will experience how to apply the data analytics process to business situations. Next, the course will focus on data communications and visualization principles. Finally, students will be introduced to common data analytics software applications and use one, or more, of these applications to complete an end of term project.
It is strongly recommended that students have completed two years of high school algebra in order to be successful in this course. Topics from differential and integral calculus with an emphasis on business applications. This class cannot be used as a prerequisite for for MATH 232.
It is strongly recommended that students have completed two years of high school algebra and one semester of high school trigonometry in order to be successful in this course. A study of the fundamental principles of analytic geometry and calculus with an emphasis on differentiation.
BBA Core Courses (21 hrs.):
All students pursuing a BBA degree with a major in economics are required to complete the following core courses:
Prerequisite: Admission to Breech School of Business Administration, minimum 2.5 GPA, and junior or senior standing; or permission from the Breech Dean.
Internship experience for students majoring in economics, finance, management, or marketing. (Students majoring in Accounting should register for ACCT 480.) Includes one in-class meeting time each week during the semester for discussions pertaining to professionalism in the workplace environment. S/U grading.
Prerequisites: ACCT 210, MGMT 228, and admission to Breech School of Business. This course is an investigation of the study of corporate finance and its implications. Topics covered include financial statement analysis, cash flow, taxes, the financial environment, interest rates, risk and return, time value of money, and the valuation of stocks, bonds, and firms. The course emphasizes that financial managers must deal with various models, assumptions, and cultures and are often called upon to make decisions based on qualitative as well as quantitative factors.
Prerequisite: ACCT 210 and admission to Breech School of Business. Introduction to management of organizations, including strategy, leadership and organizational design. Projects in leadership development and evaluation. The project will include a paper and presentation as part of the deliverables.
Prerequisite: Admission to Breech School of Business. Senior Standing. It is recommended this course be taken concurrently with MGMT 446 and/or final semester prior to graduation. The business simulation workshop offers students the opportunity to learn about, and engage in, a competitive business environment via the CapSim business simulator. Students will partner in close teams to develop a deep understanding of general business strategies and tactics, and they will apply this theoretical understanding by managing various functional areas of a simulated manufacturing firm. By the end of the course, students will understand the basic principles of strategic business management, as well as the decisions that managers make in pursuit of their strategic goals and objectives. Business professionalism constitutes an essential component to the course, as it represents a key success variable in communicating and substantiating business decisions to external business constituents. For this reason, students will make multiple presentations in the course of the semester to one another, as well as to visitors from the business community whenever possible.
Prerequisite: FINC 331, MGMT 301, MKTG 337, and admission to Breech School of Business. Capstone course. Integrative approach to analysis, using tools and theory from finance, economics, accounting, and marketing. Individual and team projects including oral and written presentations. Emphasis on analytical and strategic reasoning, including critical analysis of company/financial and industry/competitive information. Corporate social responsibility and global business issues also play an important role in this course.
Prerequisite: Admission to Breech School of Business. Introduction to effective marketing concepts, strategies, and practices. An analytical approach to recognition of alternative strategic paradigms and their effect on a firm’s marketing. Ethical and social responsibilities of effective domestic and global marketing. Individual and team projects with operating sponsors.
Study Abroad Requirement
Choose one from the following:
Study Abroad office must be notified and all policies must be followed including but not limited to insurance requirements. This course meets the Breech study abroad requirement. Study abroad trips that fall in this category will be for a year, semester or stay of at least 21 days. These trips will include formal enrollment in a University (Drury or other) study abroad program in any academic area. Students will have the opportunity to interact in the global business community on a variety of levels: business transactions, travel arrangements and interactions with residents of the host country. Application and prior approval is required. S/U Grading.
Study Abroad office must be notified and all policies must be followed including but not limited to insurance requirements. This course meets the Breech study abroad requirement. Study abroad trips that fall in the business/leadership category will be for a stay of at least 14 days. These trips will include formal enrollment in a University (Drury or other) program, with a focus on global business. In this type of study abroad program, students will be exposed to business operations and/or leadership challenges in another country. They will also be expected to have interactions with business executives or other leaders in professional settings. Application and prior approval is required. S/U Grading.
Study Abroad office must be notified and all policies must be followed including but not limited to insurance requirements. This course meets the Breech study abroad requirement. Study abroad trips that fall in the service learning category will be for a stay of at least 7 days. This program would not necessarily require formal enrollment in a University; it would, however, require affiliation with a formal agency/organization or some form of University sponsorship. Students may not complete this program on an individual basis. In this type of study abroad program, students will be focused on an intensive immersive experience and will be interacting almost exclusively with a variety of host country residents while engaged in a community service project. Students will be expected to base this personal interaction on the pursuit of a particular goal. Application and prior approval is required. S/U Grading.
Study Abroad office must be notified and all policies must be followed including but not limited to insurance requirements. This course meets the Breech student abroad requirement. The international student category covers students from outside the United States who are studying business at Drury. Application and prior approval is required. S/U Grading.
Choose one of the following (3 hrs.):
Prerequisite: Admission to Breech School of Business. This course explores ethical and legal issues in business beginning with the legal system and forms of dispute resolution and covering the procedural and substantive areas of constitutional law, business crimes, torts/products liability, contracts and sales. Contemporary legal and ethical issues in business are discussed.
This course is an overview of laws and regulations as they pertain to the business atmosphere. Topical areas include procedural laws and the court system, alternative means of dispute resolution, constitutional law, torts/products liability, business crimes, contracts, sales, forms of business organizations, and employment regulation. Case analysis and ethical implications are discussed in each area.
Major Requirements (17 hrs.):
Students earning a BBA degree with a major in economics must also complete the following courses for the major:
Prerequisite: Admission to Breech School of Business. Students will use economic models to explore how free markets can lead to the most efficient use of society’s scarce resources. The problems posed by monopoly and other forms of market failure will be analyzed along with other real-world issues.
Prerequisite: Admission to Breech School of Business. Students will trace the historical development of contemporary macroeconomic analysis and use economic models to evaluate the impact of monetary and fiscal policies on the level of employment, output and prices in capitalist economies. The debate surrounding the appropriate role of government in promoting full employment and price stability is given emphasis.
Prerequisite: ECON 311, ECON 312 and admission to Breech School of Business. Students will learn to use calculus and statistics to quantify and interpret a variety of important micro-and macroeconomic models. Students will complete individual research projects involving data collection and analysis using Excel and more sophisticated statistical computer software.
Choose two of the following (6 hrs.):
Prerequisite: Admission to Breech School of Business. This interdisciplinary course involves the use of economic principles and various ethical perspectives to analyze contemporary environmental issues. The links between economic growth and population growth and the impact of growth on natural resource depletion and various types of environmental pollution are explored. Students will also complete a relevant research project.
Prerequisite: Admission to Breech School of Business. Extent of poverty and income inequality in U.S. economy is described. Various theories that attempt to explain causes of poverty and inequality are discussed. Existing antipoverty programs are analyzed as are proposals for policy changes. Students will also complete a relevant research project.
Prerequisite: ECON 311, admission to Breech School of Business. (ECON 312 is recommended, but not required.) Students will use economic models to explain and identify sources of market and government failure. They will study the impact that various government expenditure and tax policies have on the allocation of resources and the distribution of income, and will consider contemporary tax reform proposals. Students will also complete a relevant research project.
Prerequisite: Admission to Breech School of Business. (ECON 311 is recommended, but not required.) Examines international trade theory, policy and international finance. The costs and benefits of more open trade are considered. The determination of exchange rates is explored and government intervention in foreign exchange markets is examined. A student research project is required.
Student Learning & Engagement
An economics major provides a broad foundation which is excellent preparation for many jobs in business and government. Economics majors are required to take courses in:
This preparation provides the broad-based background sought by many employers while emphasizing the rigorous analytical skills that characterize economic reasoning.
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