ECONOMICS, BACHELOR OF SCIENCE (B.S.) [SCHOOL OF BUSINESS]

Transcription

1 Economics, Bachel of Science (B.S.) [School of Business] ECONOMICS, BACHELOR OF SCIENCE (B.S.) [SCHOOL OF BUSINESS] Economics is the science of human choice, the study of how scarce resources are allocated among competing uses to satisfy human wants. Since many choices analyzed are made by affect business decision makers, economics is a unique blend of liberal arts and business. Therefe, the Department of Economics offers an undergraduate maj in both the College of Humanities and Sciences and the School of Business. The maj in the College of Humanities and Sciences is designed f students who desire the flexibility and breadth that is associated with a liberal arts degree. Students who want to combine training in economics with exposure to the business disciplines should consider the maj in the School of Business. Undergraduate wk in economics is excellent preparation f careers in business, government and teaching, as well as f graduate wk in economics and professional schools such as law, public administration and medicine. Specialization in economics prepares students f careers that emphasize analytical thinking, a broad understanding of the economy and business ganizations and the proper choice of policies by governments and business enterprises. Because of their analytical, quantitative and decision-making skills, students who maj in economics are sought after f a wide array of positions in management and sales. The specific skills they acquire also provide employment opptunities in large ganizations with departments that fecast business conditions and analyze economic data of special interest to the ganizations. The mission of the B.S. in Economics is to provide undergraduate students with economic knowledge and skills that will enable them to compete successfully in changing regional, national and global economic environments. Learning goals Critical thinking Quantitative proficiency Communication Learning outcomes Upon completing this program, students will know and know how to do the following: Students will solve key microeconomic problems. Students will solve key macroeconomic problems. Students will be able to interpret and analyze data and express economic relationships using graphs, equations and wds. Students will demonstrate strong al and written communication skills. Students will be able to employ economic models and data to analyze questions of economic significance. Special requirements The foundation program specifies course wk required during the freshman and sophome years. Students are eligible f admission into the advanced business program with a maj in the School of Business upon meeting the minimum cumulative GPA requirement and successful completion of: A minimum of 54 credits in the foundation program 54 ACCT 20 & ACCT 204 Introduction to Accounting I and Introduction to Accounting II BUSN 20 Foundations of Business BUSN 225 Winning Presentations ECON 20 Principles of Microeconomics ECON 2 Principles of Macroeconomics INFO 60 INFO 6 Digital Literacy: Wd Processing Skills INFO 62 Digital Literacy: Spreadsheets Skills I INFO 65 Digital Literacy: Spreadsheet Skills II SCMA 22 MATH 200 UNIV Play course video f Focused Inquiry I UNIV 2 Play course video f Focused Inquiry II UNIV 200 Differential Calculus and Optimization f Business Calculus with Analytic Geometry Focused Inquiry I Focused Inquiry II (with a minimum grade of C) Inquiry and the Craft of Argument (with a minimum grade of C) The admission requirements f the School of Business ( bulletin.vcu.edu/undergraduate/business/undergraduate-infmation/ academic-policies) detail the deadlines f students to be admitted to the advanced business program with a maj in the school. At least 0 hours of the required business courses f the Bachel of Science must be taken at VCU. Students may need to take additional mathematics courses as prerequisites to SCMA 22 MATH 200. These credits will count as electives in the foundation program. The sample curriculum outline includes SCMA 7 since many of our students will need to complete this course. The INFO 60, INFO 6, INFO 62 and INFO 65 requirements may be waived upon successful completion of a Knowledge Equivalency Test administered by the Office of Undergraduate Studies. No me than two additional credits may be applied to the degree from the INFO 6x series. No me than four credits in physical education courses may be applied to the degree. INTL 49 may not be counted toward a business degree. Degree requirements f Economics, Bachel of Science (B.S.) Business foundation General Education requirements University Ce Education Curriculum UNIV Play course video f Focused Inquiry I Focused Inquiry I 6

2 2 Economics, Bachel of Science (B.S.) [School of Business] UNIV 2 Play course video f Focused Inquiry II Focused Inquiry II UNIV 200 Inquiry and the Craft of Argument Approved humanities/fine arts Approved natural/physical sciences -4 Approved quantitative literacy: -4 SCMA 22 MATH 200 Differential Calculus and Optimization f Business Calculus with Analytic Geometry Approved social/behavial sciences -4 Total Hours 2-24 Business General Education requirements ECON 20 Principles of Microeconomics ECON 2 Principles of Macroeconomics INFO 60 INFO 6 Digital Literacy: Wd Processing Skills INFO 62 Digital Literacy: Spreadsheets Skills I INFO 65 Digital Literacy: Spreadsheet Skills II Business General Education electives (Select credits from the approved list.) Total Hours Additional Business Foundation requirements ACCT 20 Introduction to Accounting I & ACCT 204 and Introduction to Accounting II BUSN 20 Foundations of Business BUSN 225 Winning Presentations Open electives -4 Total Hours 2-26 Advanced business program Advanced business ce BUSN 25 Organizational Communication FIRE Financial Management MGMT 0 Creativity and Ideation MGMT 0 Managing People in Organizations MGMT 44 Strategic Management (capstone) MKTG 0 Marketing Principles SCMA 0 Business Statistics I Maj requirements Advanced ce (flexible by maj) BUSN 2 Legal Environment of Business ECON 00 Contempary Economic Issues ECON 40 SCMA 20 Introduction to Mathematical Economics Production/Operations Management ECON 50 Introduction to Econometrics SCMA 02 Business Statistics II INFO 60 Business Infmation Systems Maj-specific courses ECON 0 Microeconomic They 6 ECON 02 Macroeconomic They Select one of the following: ECON 4 ECON 489 ECON 44 Lab Economics Seni Seminar in Economics Experimental Economics Approved economics electives: select five level 5 economics courses. Total Hours 60 ECON 50 may be used as an elective if SCMA 02 is taken as a required course. ECON 40 may be used as an elective if SCMA 20 is taken as a required course. BUSN 400 and BUSN 40 may be used as electives f students enrolled in the International Consulting Program. Total minimum requirement 20 credits Business general education electives Additional University Ce Education Curriculum approved courses Any AFAM, ANTH, ANTZ, ARTH, BIOL, BIOZ, CHEM, CHEZ, CRJS, DANC, ENGL, ENVS, FRSC, FRSZ, HIST, INNO, INSC, INTL (except INTL 49), MASC, MATH, PHIL, PHYS, PHYZ, POLI, PSYC (except PSYC 24), RELS, SOCS, SOCY, USRP WRLD course Any feign language course Any hons-designated course taught outside of the School of Business Any of the following UNIV courses: UNIV 2 UNIV 2 Play course video f The Truth About Lying UNIV 27 UNIV 222 UNIV 299 Food f Thought The Truth About Lying Finding Your Voice in Contempary Society Pseudoscience What's the Big Idea? What follows is a sample plan that meets the prescribed requirements within a four-year course of study at VCU. Please contact your adviser befe beginning course wk toward a degree. Freshman year INFO 60 Hours INFO 62 Digital Literacy: Spreadsheets Skills I SCMA 7 Mathematical Applications f Business UNIV Play course video f Focused Inquiry I Focused Inquiry I Approved University Ce Education Curriculum courses 6-8 Term Hours: 4-6 BUSN 225 Winning Presentations

3 Economics, Bachel of Science (B.S.) [School of Business] INFO 6 Digital Literacy: Wd Processing Skills INFO 65 Digital Literacy: Spreadsheet Skills II SCMA 22 MATH 200 UNIV 2 Play course video f Focused Inquiry II Differential Calculus and Optimization f Business Calculus with Analytic Geometry -4 Focused Inquiry II Approved University Ce Education Curriculum course -4 Sophome year Term Hours: 4-6 ACCT 20 Introduction to Accounting I BUSN 20 Foundations of Business ECON 20 Principles of Microeconomics UNIV 200 Inquiry and the Craft of Argument Business General Education elective ACCT 204 Introduction to Accounting II BUSN 2 Legal Environment of Business ECON 2 Principles of Macroeconomics MKTG 0 Marketing Principles SCMA 0 Business Statistics I Elective 0-2 Juni year -7 BUSN 25 Organizational Communication ECON 00 Contempary Economic Issues ECON 0 Microeconomic They ECON 40 SCMA 20 Introduction to Mathematical Economics Production/Operations Management MGMT 0 Managing People in Organizations ECON 02 Macroeconomic They FIRE Financial Management INFO 60 Business Infmation Systems MGMT 0 Creativity and Ideation Approved economics elective Seni year ECON 50 SCMA 02 Introduction to Econometrics Business Statistics II Approved economics electives 9 Elective MGMT 44 Strategic Management ECON 4 ECON 489 ECON 44 Lab Economics Seni Seminar in Economics Experimental Economics Approved economics elective Electives 6 Total Hours: 8-24 Total minimum requirement 20 credits ECON 0. Introduction to Political Economy. Hours. Semester course; lecture hours. credits. Seminar on the development of critical thought and economic analysis of policy issues. Focus is on how policy choices affect society and the individual, the economic methodology that guides policy choices, and the institutional and political environments within which policy is derived. Issues cover a broad range of topics including environmental issues, tax policy, inflation expectations, unemployment, feign trade and the effectiveness of fiscal and monetary policies. Crosslisted as: INTL 02. ECON 20. Introduction to Economics. Hours. Semester course; lecture hours. credits. A survey of economic principles, institutions and problems. The course is designed to provide basic economic understanding f students who do not expect to maj in economics in the School of Business. Not applicable f credit toward economics and business majs. Also note that students may receive credit f only two of the following three courses: ECON 20, ECON 205. The Economics of Product Development and Markets. Hours. Semester course; lecture hours. credits. An introduction to some of the fundamental economic concepts necessary to effectively operate in today's marketplace. Basic elements of microeconomics, net present value analysis and market strategy will be covered in class. The goal is to provide students with a better understanding of how to approach business problems and of proven problem-solving techniques. Appropriate f engineering and non-engineering students. ECON 20. Principles of Microeconomics. Hours. Semester course; lecture hours. credits. A course designed to acquaint the student with a theetical and practical understanding of the economic institutions and problems of the American economy with a focus on microeconomics. Note that students may receive credit toward their degree requirements f only two of the following three courses: ECON 20, 20 and 2. ECON 2. Principles of Macroeconomics. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with minimum grade of a B ECON 20. A course designed to acquaint the student with a theetical and practical understanding of the economic institutions and problems of the American economy with a focus on macroeconomics. Note that students may receive credit toward their degree requirements f only two of the following three courses: ECON 20, 20 and 2. ECON 29. Topics in Economics. - Hours. Variable hours. Variable credit. Maximum of credits per topic. Prerequisite: permission of instruct. An in-depth study of selected business topics. Graded as pass/fail at the option of the department.

4 4 Economics, Bachel of Science (B.S.) [School of Business] ECON 00. Contempary Economic Issues. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B ECON 20; ECON 2; and juni standing. Students will learn to think critically about current policy issues using basic economic principles. Communication skills will be developed through presenting, discussing and debating alternative positions in class. Students will wk in teams to outline the basic economic incentives and the direct and indirect costs and benefits associated with different policy actions. Through teamwk students will practice leadership skills and methods to manage group dynamics. Topics will vary by semester and may include the economics of discrimination, the environment, health care, cultural arts, education, business ethics, fiscal policy, monetary policy, globalization, inequality and immigration. ECON 0. Microeconomic They. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B ECON 20; and SCMA 22 MATH 200. Analysis of the principles that govern production, exchange and consumption of goods and services. Topics include demand analysis, production and cost they, price and output determination, they of markets and distribution they. ECON 02. Macroeconomic They. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B grade ECON 20; ECON 2; and SCMA 22 MATH 200. A general survey of national income analysis and macroeconomic they. Detailed study of public policies affecting price levels, employment, economic growth and the balance of payments. ECON 0. Managerial Economics. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B and ECON 2; ECON 20 and ECON 2; and SCMA 22 MATH 200. This course is restricted to students who have completed at least 54 credit hours (juni standing). Application of tools of economic analysis to allocation problems in profit and nonprofit ganizations. Models f evaluating revenue, production, cost and pricing will be presented. Emphasis on developing decision rules f turning data into infmation f solving problems. ECON 05. Public Finance - State and Local. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. An economic analysis of state and local government budgeting, revenue sources and expenditures. ECON 07. Money and Banking. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 2. A study of money, financial markets and the financial structure with emphasis on commercial banks and the Federal Reserve System. Relationships between economic activity and money supply are introduced. ECON 2. E-commerce and Markets f Infmation Goods. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. This course surveys the ways that infmation and emerging infmation technologies affect market ganization and market efficiency. Competitive strategies and regulaty policy f infmation markets also are considered. Topics include netwk effects, first mover advantages, auctions, price discrimination and ganizational structure. ECON. Economics of Transptation. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. An economic analysis of the transptation industry with special emphasis on regulation, public policy and urban transptation. ECON 5. Economic Development. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B and ECON 2; ECON 20 and ECON 2. An introduction to the process of economic development. Surveys development they and experiences of underdeveloped countries of Africa, Asia, Latin America and the Caribbean and of developed countries. Exples obstacles to development and policies and tools f stimulating economic development. Crosslisted as: AFAM 5/INTL 5. ECON 2. Urban Economics. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. An introduction to urban economics, with an emphasis on the economics of agglomeration and the role of externalities in the urban economy. Economic analysis of the provision of urban public services and urban public financing, especially in politically fragmented areas. Crosslisted as: URSP 2. ECON 25. Environmental Economics. Hours. Semester course; lecture hours. credits. This course is restricted to students who have completed at least 54 credit hours (juni standing). The application of economic analysis to externalities such as air and water pollution, pesticide control, land use planning and other environmental issues. The role of cost/benefit analysis in the decisionmaking process is developed. Efficiency and equity issues are evaluated. ECON 29. International Economics. Hours. lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B and ECON 2; ECON 20 and ECON 2. An analysis of economic and political influences on expts and impts, balance of payments, feign investment, exchange rates and international monetary systems. Crosslisted as: INTL 29. ECON. Behavial Economics. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. Identifies when behavi systematically violates mainstream models and provides alternative behavial models which are psychologically and empirically plausible. Discusses a variety of violations including endowment effects, framing, dynamic inconsistency and the winner's curse. ECON 8. Game They. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. Analyzes strategic situations using game they. Applies the analysis to a variety of settings and questions. Develops an understanding of the uses and limitations of the analysis. ECON 44. Biodiversity and Ecological Economics. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. Exples the use of both economic and ecological approaches to the identification, valuation and protection of biological diversity and ecological integrity. Investigates the potential of coupled human and natural systems through construction and computer simulation of dynamic ecological-economic models. ECON 402. Business Cycles and Fecasting. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B and ECON 2; ECON 20 and ECON 2. An examination of repetitive variations in business activity. The measurement and analysis of economic fluctuations and how they affect the business environment. Stresses modern fecasting techniques.

5 Economics, Bachel of Science (B.S.) [School of Business] 5 ECON 40. Introduction to Mathematical Economics. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B grade ECON 20; ECON 2; and MGMT 22 SCMA 22 MATH 200. Enrollment is restricted to students who have completed at least 54 credit hours (juni standing). The application of mathematical techniques to economic they and economic models. ECON 49. Histy of Economic Thought. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B and ECON 2; ECON 20 and ECON 2. A survey of the ideas of maj economic contributs to modern economic thought. Theies of value, growth and distribution from the 8th through the 20th centuries will be presented. ECON 42. Government and Business. Hours. Semester course; lecture hours. credits. Prerequisite: ECON 20 with a minimum grade of B ECON 20. The application of economic analysis to the behavi of business, industry and government regulation. Topics include the causes and exercise of monopoly power, antitrust enfcement, public utilities and industry studies. ECON 4. Lab Economics. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 00, 0 and 02; and STAT 20, STAT 22, MGMT 0 PSYC 24. This course is restricted to students who have completed at least 54 credit hours (juni standing). Analysis of lab markets and institutions to gain an understanding of the process of wage and employment determination. Both histic and current topics are included. ECON 44. Experimental Economics. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 00, ECON 0 and 02; and STAT 20, STAT 22, MGMT 0 PSYC 24; and juni standing. Students will learn about the leading models of decision making and human behavi in markets. The course will focus on using experimental methods to test the models hypotheses. Students will learn how to design experiments, collect experimental data, and how to examine the data and interpret the results. ECON 442. Economic Growth. Hours. Semester course; lecture hours. credits. Prerequisites: ECON 20 with a minimum grade of B and ECON 2; ECON 20 and ECON 2. Exples determinants of cross-country income differences using economic models, economic histy and data analysis. Analyzes facts that influence productivity growth and diffusion of technology between countries. ECON 489. Seni Seminar in Economics. Hours. lecture hours. credits. Prerequisites: ECON 00, ECON 0 and 02; STAT 20, STAT 22, MGMT 0 PSYC 24; and juni standing. Analysis of economic they and problems. Students will study a few topics in depth, focusing on understanding the current research, critically analyzing controversial issues and using data to investigate competing claims. ECON 49. Topics in Economics. - Hours. Semester course; variable hours. Variable credit. Maximum of credits per topics course; maximum total of 6 credits f all topics courses. Prerequisite: juni standing. An in-depth study of a selected economic topic, to be announced in advance. ECON 492. Independent Study in Economics. - Hours. Semester course; - credits. Maximum total of credits. Prerequisites: juni seni standing as an economics maj and approval of adviser and department chair pri to course registration. Intensive study under supervision of a faculty member in an area not covered in depth contained in the regular curriculum. ECON 49. Internship in Economics. - Hours. Semester course; the student is expected to wk at the site 5-20 hours per week. - credits. Prerequisites: juni standing, a minimum of.0 GPA in economics courses, at least 5 economics credits and permission of the department chair. Intention to enroll must be indicated to the instruct pri to during registration f semester of credit. The internship is designed to give students practical experience in an appropriate supervised environment in the public private sect. Graded as pass/fail.