DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study in Accounting Baccalaureate Study in Economics (B.A.) Baccalaureate Study in Economics (B.S./B.A.)Baccalaureate Study in Finance Baccalaureate Study in International Business Baccalaureate Study in International Economics and Finance (B.S./B.A.) Baccalaureate Study in Management Baccalaureate Study in Marketing Baccalaureate Study in Management Information Systems Goals and Assessment of Student Learning Outcomes November 19, 2009
Table of Contents Accounting.3 Economics (B.A.) 6 Economics (B.S./B.A.) 9 Finance..13 International Business.16 International Economics and Finance (B.S./B.A.).....19 Management.23 Marketing.26 Management Information Systems 32 Developed 2007-2008. Last update Fall 2009 2
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study in Goals and Assessment of Student Learning Outcomes Bachelor of Science in Business Administration in Accounting Program Description The core requirements consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 223: Introduction to Statistics I ECON 563: Econometrics ECON 543: Applied Macroeconomics ECON 546: Managerial Economics MGT 218 : Microcomputer Applications in Business MGT: 240: Introduction to Management Information Systems MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics MGT 521 or MGT 522: Fundamentals of Business Law MGT 545: Principles of Marketing After completion of the core, students move beyond the fundamentals by taking four (4) required courses including Intermediate Accounting II (ACCT 410), Intermediate Accounting II (ACCT 4110), Cost Accounting ( ACCT 509), and Auditing(ACCT 511). They also take two (2) intradepartmental elective courses such as Federal Taxation I (ACCT 519) and Federal Taxation II (ACCT 520) to name only two examples. Students complete their studies by taking a capstone course in management strategy (MGT 575). Student can complement their course work by taking one or more internship during their last two years. Only one internship however, can be taken for credit. Goals for Student Learning Students who graduate with a B.S.B.A. in Accounting will: 1. Prepare income statements, cash flow statements, and balance sheets. 2. Use job-cost systems to determine cost per unit, computing the cost per unit using both absorption and variable costing. 3. Determine whether a piece of capital equipment is subject to an impairment loss. 4. Calculate the balance of pension benefit obligations. 5. Prepare schedules of depreciation differences and compute deferred income tax Developed 2007-2008. Last update Fall 2009 3
liability for firms using accelerated cost recovery in preparing their income tax returns while employing straight-line depreciation in preparing financial statements. Student Assessment Outcome Measures 1. Seniors enroll in a capstone course in management strategy. The course brings together and synthesizes material from accounting, finance, micro and macro economics, marketing, operations, information systems, business ethics, and international business to assess organizations and develop alternative courses of action based on the goals of the organization and fit within larger business environment. a. The course emphasizes how seniors would communicate within business practice through case summary write ups and short presentations throughout the semester. In addition, core strategic decision making concepts and tools for industry and organizational analysis, formulation of strategic plans, and analysis of a strategic plan are introduced and tested in an examination consisting of 4-6 short answer questions focused on a single business case. These core concepts are taught through both class discussions centered on a specific chapter in the text plus an example to work through in class and reinforced in the application to a business case using case method teaching. The use of case methodology applies directly to the goal of teaching concepts of strategy with an eye on practicality in a business setting. b. The course culminates in the development of a business case on an issue of the students choice and corresponding analysis which utilizes the concepts of the course. The students develop a proposal and outline for their project to be critiqued by their peers and the professor. The summary case and analysis is presented to the class and developed into a paper. The students are graded on their ability to i. State a thesis of their paper which communicates the goal and scope of the paper. ii. Organize the argument of the paper on the thesis, with clarity, and without addition, irrelevant material.. iii. Students are assessed for their insight on the case to include their ability to synthesize multiple concepts or apply concepts in a novel manner. iv. The paper and presentation must be balanced with a charitable read of opposing arguments and a multi-faceted assessment of the case. v. The paper and presentation must correctly incorporate concepts from the course such as an industry analysis and/or an organizational assessment to develop a realistic course of action for a firm or individual. 2. During majors last year in residence in either the fall or spring semester,[the Department administers a senior assessment, which consists of a three-hour Developed 2007-2008. Last update Fall 2009 4
examination that requires them to answer a 5-6 questions that directly test their competency in the major. In the case of accounting, students are judged based on the level of expertise needed to pass the CPA exam. Only majors who have completed all the core and required courses in their major can take this exam. To ensure that they have achieved a sufficient level of competency, at least two departmental faculty members evaluate the examinations along the following criteria i. Student is concise, structured, and clear in answering the question. ii. Student addresses the question using concepts from the major. iii. To pass, student is able to meet requirements i and ii for 5 of 6 questions answered. iv. To pass with honors, student is able to meet requirements i and ii for all questions answered plus student adds insight, parallel examples, alternative readings of the questions and answers, or analysis from other classes. Only approximately 2% of the students are able to pass with honors. A score of "Pass" or " Pass with Honors" is the requirement for graduation. Use of Results to Improve Student Learning The department continues to evaluate the structure of the major requirements and the individual course pedagogy based on developments in the field of accounting, the results of the senior assessment, student evaluations and feedback from alumni and potential employers. Developed 2007-2008. Last update Fall 2009 5
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study Goals and Assessment of Student Learning Outcomes Bachelor of Arts in Economics Program Description The core requirements of this major consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 223: Introduction to Statistics I ECON 563: Econometrics ECON 241: Intermediate Macroeconomics ECON 242: Intermediate Microeconomics MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics After completion of the core, students move beyond the fundamentals by taking four courses in economics. Examples include Industrial Organization (ECON 548), Antitrust and Regulation (ECON 549), Public Finance(ECON 559), Econometric Modeling (ECON 463), Development Economics (ECON 540), International Economics (ECON 580), International Economics (ECON 581), Emerging Financial Markets (ECON 584), and Family and Economic Growth (ECON 541).. Students complete their studies by taking a capstone course in policy issue in economics (ECON 493). Students can complement their course work by taking one or more internships during their last two years. Only one internship however, can be taken for credit. Some internships examples include the Council of Economic Advisers and the Federal Reserve Board, just to name two examples. Goals for Student Learning Students who graduate with a B.A. in Economics will: 1. Understand thoroughly the competitive supply/demand model and use it to analyze the impact of government policies (e.g., price controls, excise taxes, subsidies) on the welfare of consumers and producers. 2. Demonstrate an understanding of imperfectly competitive market structures and the effects they have on the welfare of consumers and producers. Developed 2007-2008. Last update Fall 2009 6
3. Demonstrate an understanding of why externalities, such as pollution, can lead to market failure and provide a rationale for government involvement. 4. Understand thoroughly the open macroeconomy, as represented by the core IS/LM, BoP and AD-AS models ( IS denotes Investment-Savings equilibrium; LM is an abbreviation for Liquidity Preference (Money demand)-money Supply equilibrium; BoP is Balance of Payments; AD-AS is short for Aggregate Demand-Aggregate Supply ) under different assumptions, and analyze the impacts of changes in domestic and foreign fiscal and monetary policies on domestic and foreign economic variables, such as GDP, interest rates, investment, exchange rates, inflation, employment, and net exports. 5. Use statistical estimation, hypothesis testing, and basic regression analysis and be able to interpret reported regression results. Student Assessment Outcome Measures 1. Seniors enroll in a capstone course in contemporary policy issues and research in economics. Students will write a research paper on an economic public policy issue of their interest. The students are graded on their ability to v. State a thesis of their paper which communicates the goal and scope of the paper. vi. Organize the argument of the paper on the thesis, with clarity, and without addition, irrelevant material.. vii. Students are assessed for their ability to analyze the policy issue in a manner that is consistent with economic theory. viii. When appropriate, the students are expected to provide an econometric analysis that complements their theoretical analysis. 3. During majors last year in residence in either the fall or spring semester, the Department administers a senior assessment, which consists of a three-hour examination that requires them to answer a 5-6 questions that directly test their competency in the major. Only majors who have completed all the core and required courses in their major can take this exam. To ensure that they have achieved a sufficient level of competency, at least two departmental faculty members evaluate the examinations along the following criteria i. Student is concise, structured, and clear in answering the question. ii. Student addresses the question using concepts from the major. For example, students in economics are expected to be able to demonstrate the impact of a commodity tax using the concepts of consumer and producer surplus. iii. To pass, student is able to meet requirements i and ii for 5 of 6 questions answered. Developed 2007-2008. Last update Fall 2009 7
iv. To pass with honors, student is able to meet requirements i and ii for all questions answered plus student adds insight, parallel examples, alternative readings of the questions and answers, or analysis from other classes. Only approximately 2% of the students are able to pass with honors. A score of "Pass" or " Pass with Honors" is the requirement for graduation. Use of Results to Improve Student Learning The department continues to evaluate the structure of the major requirements and the individual course pedagogy based on assessments from student evaluations, market demands by talking to prospective students and parents as well as current students, and outcome results through feedback from alumni and potential employers. For example, based on feedback from former students, the instructor of the ECON 463 recently changed the econometric software employed in the course. Developed 2007-2008. Last update Fall 2009 8
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study Goals and Assessment of Student Learning Outcomes Bachelor of Science in Business Administration in Economics Program Description The core requirements of this major consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 223: Introduction to Statistics I ECON 563: Econometrics ECON 241: Intermediate Macroeconomics ECON 242: Intermediate Microeconomics MGT 218 : Microcomputer Applications in Business MGT: 240: Introduction to Management Information Systems MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics MGT 521 or MGT 522: Fundamentals of Business Law MGT 545: Principles of Marketing After completion of the core, students move beyond the fundamentals by choosing courses in one of two possible concentrations: Microeconomics or Macroeconomics. If they choose Microeconomics, students take Industrial Organization (ECON 548), Antitrust and Regulation (ECON 549), and Public Finance(ECON 559). If they choose macroeconomics, students take International Economics (ECON 580), International Finance (ECON 581), and Development Economics (ECON 580). Students also take three intradepartmental electives such as Econometric Modeling (ECON 463), Emerging Financial Markets (ECON 584), and Family and Economic Growth (ECON 541). Students complete their studies by taking a capstone course in management strategy (MGT 575). Students can complement their course work by taking one or more internships during their last two years. Only one internship however, can be taken for credit. Some internships examples include the Council of Economic Advisers and the Federal Reserve Board, just to name two examples. Goals for Student Learning Developed 2007-2008. Last update Fall 2009 9
Students who graduate with a B.S.B.A. in Economics will: 6. Understand thoroughly the competitive supply/demand model and use it to analyze the impact of government policies (e.g., price controls, excise taxes, subsidies) on the welfare of consumers and producers. 7. Demonstrate an understanding of imperfectly competitive market structures and the effects they have on the welfare of consumers and producers. 8. Demonstrate an understanding of why externalities, such as pollution, can lead to market failure and provide a rationale for government involvement. 9. Understand thoroughly the open macroeconomy, as represented by the core IS/LM, BoP and AD-AS models ( IS denotes Investment-Savings equilibrium; LM is an abbreviation for Liquidity Preference (Money demand)-money Supply equilibrium; BoP is Balance of Payments; AD-AS is short for Aggregate Demand-Aggregate Supply ) under different assumptions, and analyze the impacts of changes in domestic and foreign fiscal and monetary policies on domestic and foreign economic variables, such as GDP, interest rates, investment, exchange rates, inflation, employment, and net exports. 10. Use statistical estimation, hypothesis testing, and basic regression analysis and be able to interpret reported regression results. 11. Apply game theoretic economic models to business strategy issues. 12. Understand how economic models can address issues faced by managers. Student Assessment Outcome Measures 4. Seniors enroll in a capstone course in management strategy. The course brings together and synthesizes material from accounting, finance, micro and macro economics, marketing, operations, information systems, business ethics, and international business to assess organizations and develop alternative courses of action based on the goals of the organization and fit within larger business environment. a. The course emphasizes how seniors would communicate within business practice through case summary write ups and short presentations throughout the semester. In addition, core strategic decision making concepts and tools for industry and organizational analysis, formulation of strategic plans, and analysis of a strategic plan are introduced and tested in an examination consisting of 4-6 short answer questions focused on a single business case. These core concepts are taught through both class discussions centered on a specific chapter in the text plus an example to work through in class and reinforced in the application to a business case using case method teaching. The use of case methodology applies directly to the goal of teaching concepts of strategy with an eye on practicality in a Developed 2007-2008. Last update Fall 2009 10
business setting. b. The course culminates in the development of a business case on an issue of the students choice and corresponding analysis which utilizes the concepts of the course. The students develop a proposal and outline for their project to be critiqued by their peers and the professor. The summary case and analysis is presented to the class and developed into a paper. The students are graded on their ability to i. State a thesis of their paper which communicates the goal and scope of the paper. ii. Organize the argument of the paper on the thesis, with clarity, and without addition, irrelevant material.. iii. Students are assessed for their insight on the case to include their ability to synthesize multiple concepts or apply concepts in a novel manner. iv. The paper and presentation must be balanced with a charitable read of opposing arguments and a multi-faceted assessment of the case. v. The paper and presentation must correctly incorporate concepts from the course such as an industry analysis and/or an organizational assessment to develop a realistic course of action for a firm or individual. 5. During majors last year in residence in either the fall or spring semester,[the Department administers a senior assessment, which consists of a three-hour examination that requires them to answer a 5-6 questions that directly test their competency in the major. Only majors who have completed all the core and required courses in their major can take this exam. To ensure that they have achieved a sufficient level of competency, at least two departmental faculty members evaluate the examinations along the following criteria i. Student is concise, structured, and clear in answering the question. ii. Student addresses the question using concepts from the major. For example, students in economics are expected to be able to demonstrate the impact of a commodity tax using the concepts of consumer and producer surplus. iii. To pass, student is able to meet requirements i and ii for 5 of 6 questions answered. iv. To pass with honors, student is able to meet requirements i and ii for all questions answered plus student adds insight, parallel examples, alternative readings of the questions and answers, or analysis from other classes. Only approximately 2% of the students are able to pass with honors. A score of "Pass" or " Pass with Honors" is the requirement for graduation. Developed 2007-2008. Last update Fall 2009 11
Use of Results to Improve Student Learning The department continues to evaluate the structure of the major requirements and the individual course pedagogy based on assessments from student evaluations, market demands by talking to prospective students and parents as well as current students, and outcome results through feedback from alumni and potential employers. For example, based on feedback from former students, the instructor of the ECON 463 recently changed the econometric software employed in the course. Developed 2007-2008. Last update Fall 2009 12
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study Goals and Assessment of Student Learning Outcomes Bachelor of Science in Business Administration in Finance Program Description The core requirements of this major consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 223: Introduction to Statistics I Now ECON 563: Econometrics ECON 241/543: Intermediate Macroeconomics or Applied Macroeconomics ECON 242/546: Intermediate Microeconomics or Managerial Economics MGT 218 : Microcomputer Applications in Business MGT: 240: Introduction to Management Information Systems MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics MGT 521 or MGT 522: Fundamentals of Business Law MGT 545: Principles of Marketing After completion of the core, students move beyond the fundamentals by taking Investment Analysis (MGT 532), Corporate Finance I (MGT 534), Corporate Finance II (MGT 536). Students also take three (3) intradepartmental electives. Examples include Options and Futures (MGT 538), Financial Markets and Institutions, (MGT 542), and International Corporate Finance (MGT 589), just to name three examples. Students complete their studies by taking a capstone course in management strategy (MGT 575). Student can complement their course work by taking one or more internship during their last two years. Only one internship however, can be taken for credit. The internships typically follow the interest of the students. For student majoring in Finance, examples include internships at Merrill Lynch, Wachovia Securities, and Bear Sterns. Goals for Student Learning Students who graduate with a B.S.B.A. in Finance will: Developed 2007-2008. Last update Fall 2009 13
1) Demonstrate a professional level of competence in corporate financial management, financial markets and institutions, and portfolio management. This includes developing an understanding of the basic principles, practices and theoretical framework of financial decisionmaking in corporations to optimize shareholders value through management of corporate assets and liabilities. 2) Apply fundamental problem solving techniques to practical situations, be skilled in analysis of financial securities, and understand the markets in which they are traded and the economic and financial factors that affect their valuation. 3) Analyze and interpret financial data for investment decision-making and apply different valuation and portfolio selection models. 4) Understand the principles and theoretical framework of decisions concerning financial analysis, planning, risk and return tradeoffs in investing and financing, capital budgeting, short-term and long-term financing decisions, optimal capital structure, and cost of capital. 5) Be familiar with options, futures, and other derivative instruments and their applications in risk management, investments and portfolio management. Student Assessment Outcome Measures 6. Seniors enroll in a capstone course in management strategy. The course brings together and synthesizes material from accounting, finance, micro and macro economics, marketing, operations, information systems, business ethics, and international business to assess organizations and develop alternative courses of action based on the goals of the organization and fit within larger business environment. a. The course emphasizes how seniors would communicate within business practice through case summary write ups and short presentations through out the semester. In addition, core strategic decision making concepts and tools for industry and organizational analysis, formulation of strategic plans, and analysis of a strategic plan are introduced and tested in an examination consisting of 4-6 short answer questions focused on a single business case. These core concepts are taught through both class discussions centered on a specific chapter in the text plus an example to work through in class and reinforced in the application to a business case using case method teaching. The use of case methodology applies directly to the goal of teaching concepts of strategy with an eye on practicality in a business setting. b. The course culminates in the development of a business case on an issue of the students choice and corresponding analysis which utilizes the concepts of the course. The students develop a proposal and outline for their project to be critiqued by their peers and the professor. The summary case and analysis is presented to the class and developed into a paper. The students are graded on their ability to Developed 2007-2008. Last update Fall 2009 14
i. State a thesis of their paper which communicates the goal and scope of the paper. ii. Organize the argument of the paper on the thesis, with clarity, and without addition, irrelevant material.. iii. Students are assessed for their insight on the case to include their ability to synthesize multiple concepts or apply concepts in a novel manner. iv. The paper and presentation must be balanced with a charitable read of opposing arguments and a multi-faceted assessment of the case. v. The paper and presentation must correctly incorporate concepts from the course such as an industry analysis and/or an organizational assessment to develop a realistic course of action for a firm or individual. 7. During majors last year in residence in either the fall or spring semester,[the Department administers a senior assessment, which consists of a three-hour examination that requires them to answer a 5-6 questions that directly test their competency in the major. Only majors who have completed all the core and required courses in their major can take this exam. To ensure that they have achieved a sufficient level of competency, at least two departmental faculty members evaluate the examinations along the following criteria. Factors considered in the grading of the exams include: i. Has the student been concise, structured, and clear in answering the question. ii. Has the student addressed the question using concepts from the major. iii. To pass, student is able to meet requirements i and ii for 5 of 6 questions answered. iv. To pass with honors, student is able to meet requirements i and ii for all questions answered plus student adds insight, parallel examples, alternative readings of the questions and answers, or analysis from other classes. Only approximately 2% of the students are able to pass with honors. A score of "Pass" or " Pass with Honors" is the requirement for graduation. Use of Results to Improve Student Learning The department continues to evaluate the structure of the major requirements and the individual course pedagogy based on assessments from student evaluations, developments in financial markets, and survey results from alumni. Developed 2007-2008. Last update Fall 2009 15
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study Goals and Assessment of Student Learning Outcomes Bachelor of Science in Business Administration in International Business Program Description The core requirements consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 223: Introduction to Statistics I ECON 563: Econometrics ECON 543: Applied Macroeconomics ECON 546: Managerial Economics MGT 218 : Microcomputer Applications in Business MGT: 240: Introduction to Management Information Systems MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics MGT 521 or MGT 522: Fundamentals of Business Law MGT 545: Principles of Marketing After completion of the core, students move beyond the fundamentals by taking International Marketing (MGT 562), International Corp Finance (MGT 589), and International Business (MGT 590). They also take three (3) intradepartmental elective courses such as entrepreneurship (MGT 572), International Management (MGT 591), or an internship (MGT 500) to name only three examples. Students complete their studies by taking a capstone course in management strategy (MGT 575). Students can complement their course work by taking one or more internship during their last two years. Only one internship however, can be taken for credit. The internships typically follow the interest of the students. Goals for Student Learning Students who graduate with a B.S.B.A. in International Business will: 1. Demonstrate an understanding of the pros and cons of different alternatives for hedging a firm s foreign exchange exposure. Developed 2007-2008. Last update Fall 2009 16
2. Demonstrate knowledge about forward rate agreements, interest rate futures, interest rate swaps, and currency swaps with respect to the management of interest rate risks. 3. Be familiar with the advantages and disadvantages of global branding. 4. Understand the importance of pressing management issues such as cultural diversity, business ethics, and international management. Student Assessment Outcome Measures 8. Seniors enroll in a capstone course in management strategy. The course brings together and synthesizes material from finance, micro and macro economics, marketing, operations, information systems, business ethics, and international business to assess organizations and develop alternative courses of action based on the goals of the organization and fit within larger business environment. a. The course emphasizes how seniors would communicate within business practice through case summary write ups and short presentations through out the semester. In addition, core strategic decision making concepts and tools for industry and organizational analysis, formulation of strategic plans, and analysis of a strategic plan are introduced and tested in an examination consisting of 4-6 short answer questions focused on a single business case. These core concepts are taught through both class discussions centered on a specific chapter in the text plus an example to work through in class and reinforced in the application to a business case using case method teaching. The use of case methodology applies directly to the goal of teaching concepts of strategy with an eye on practicality in a business setting. b. The course culminates in the development of a business case on an issue of the students choice and corresponding analysis which utilizes the concepts of the course. The students develop a proposal and outline for their project to be critiqued by their peers and the professor. The summary case and analysis is presented to the class and developed into a paper. The students are graded on their ability to i. State a thesis of their paper which communicates the goal and scope of the paper. ii. Organize the argument of the paper on the thesis, with clarity, and without addition, irrelevant material.. iii. Students are assessed for their insight on the case to include their ability to synthesize multiple concepts or apply concepts in a novel manner. iv. The paper and presentation must be balanced with a charitable read of opposing arguments and a multi-faceted assessment of the case. v. The paper and presentation must correctly incorporate concepts from the course such as an industry analysis and/or an Developed 2007-2008. Last update Fall 2009 17
organizational assessment to develop a realistic course of action for a firm or individual. 9. During majors last year in residence in either the fall or spring semester,[the Department administers a senior assessment, which consists of a three-hour examination that requires them to answer a 5-6 questions that directly test their competency in the major. Only majors who have completed all the core and required courses in their major can take this exam. To ensure that they have achieved a sufficient level of competency, at least two departmental faculty members evaluate the examinations along the following criteria i. Student is concise, structured, and clear in answering the question. ii. Student addresses the question using concepts from the major. iii. To pass, student is able to meet requirements i and ii for 5 of 6 questions answered. iv. To pass with honors, student is able to meet requirements i and ii for all questions answered plus student adds insight, parallel examples, alternative readings of the questions and answers, or analysis from other classes. Only approximately 2% of the students are able to pass with honors. A score of "Pass" or " Pass with Honors" is the requirement for graduation. Use of Results to Improve Student Learning The department continues to evaluate the structure of the major requirements and the individual course pedagogy based on real-time assessments from student evaluations, market demands by talking to prospective students and parents as well as current students, and outcome results through feedback from alumni and potential employers. The schedule, syllabus, material, and approach to the management classes is re-assessed before each semester. Approximately 20% of the course material is refreshed once a year to try new material and approaches and remain relevant to the current international business climate. Developed 2007-2008. Last update Fall 2009 18
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study Goals and Assessment of Student Learning Outcomes Bachelor of Science in Business Administration in International Economics and Finance Program Description The core requirements of this major consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 223: Introduction to Statistics I ECON 563: Econometrics ECON 241: Intermediate Macroeconomics ECON 242: Intermediate Microeconomics MGT 218: Microcomputer Applications in Business MGT: 240: Introduction to Management Information Systems MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics MGT 521 or MGT 522: Fundamentals of Business Law MGT 545: Principles of Marketing After completion of the core, students move beyond the fundamentals by taking International Economics (ECON 580), International Finance (ECON 581), and International Corporate Finance (MGT 589). Students complete their studies by taking a capstone course in Management Strategy (MGT 575). Students are also required to take Calculus I (MATH 111) and Calculus II (MATH 112). Students can also choose to take Development Economics (ECON 540), Emerging Financial Markets (ECON 584), and Family and Economic Growth (ECON 541). Students can complement their course work by taking one or more internships during their last two years. Only one internship however, can be taken for credit. Some internships examples include the Council of Economic Advisers, the Federal Reserve and Board, and J.P. Morgan. Goals for Student Learning Students who graduate with a B.S.B.A. in International Economics and Finance will: Developed 2007-2008. Last update Fall 2009 19
13. Understand thoroughly the competitive supply/demand model and use it to analyze the impact of government policies (e.g., price controls, excise taxes, subsidies) on the welfare of consumers and producers. 14. Demonstrate an understanding of imperfectly competitive market structures and the effects they have on the welfare of consumers and producers. 15. Demonstrate an understanding of why externalities, such as pollution, can lead to market failure and provide a rationale for government involvement. 16. Understand thoroughly the open macroeconomy, as represented by the core IS/LM, BoP and AD-AS models ( IS denotes Investment-Savings equilibrium; LM is an abbreviation for Liquidity Preference (Money demand)-money Supply equilibrium; BoP is Balance of Payments; AD-AS is short for Aggregate Demand-Aggregate Supply ) under different assumptions, and analyze the impacts of changes in domestic and foreign fiscal and monetary policies on domestic and foreign economic variables, such as GDP, interest rates, investment, exchange rates, inflation, employment, and net exports. 17. Demonstrate a professional level of competence in corporate financial management, financial markets and institutions, and portfolio management. This includes developing an understanding of the basic principles, practices and theoretical framework of financial decision-making in corporations to optimize shareholders value through management of corporate assets and liabilities. 18. Apply fundamental problem solving techniques to practical situations, be skilled in analysis of financial securities, and understand the markets in which they are traded and the economic and financial factors that affect their valuation. 19. Analyze and interpret financial data for investment decision-making and apply different valuation and portfolio selection models. 20. Understand the principles and theoretical framework of decisions concerning financial analysis, planning, risk and return tradeoffs in investing and financing, capital budgeting, short-term and long-term financing decisions, optimal capital structure, and cost of capital. 21. Be familiar with options, futures, and other derivative instruments and their applications in risk management, investments and portfolio management. 22. Use statistical estimation, hypothesis testing, and basic regression analysis and be able to interpret reported regression results. 23. Apply game theoretic economic models to business strategy issues. 24. Understand how economic models can address issues faced by managers. Student Assessment Outcome Measures 1.Seniors enroll in a capstone course in management strategy. The course brings together and synthesizes material from accounting, finance, micro and macro economics, Developed 2007-2008. Last update Fall 2009 20
marketing, operations, information systems, business ethics, and international business to assess organizations and develop alternative courses of action based on the goals of the organization and fit within larger business environment. b. The course emphasizes how seniors would communicate within business practice through case summary write ups and short presentations throughout the semester. In addition, core strategic decision making concepts and tools for industry and organizational analysis, formulation of strategic plans, and analysis of a strategic plan are introduced and tested in an examination consisting of 4-6 short answer questions focused on a single business case. These core concepts are taught through both class discussions centered on a specific chapter in the text plus an example to work through in class and reinforced in the application to a business case using case method teaching. The use of case methodology applies directly to the goal of teaching concepts of strategy with an eye on practicality in a business setting. c. The course culminates in the development of a business case on an issue of the students choice and corresponding analysis which utilizes the concepts of the course. The students develop a proposal and outline for their project to be critiqued by their peers and the professor. The summary case and analysis is presented to the class and developed into a paper. The students are graded on their ability to i. State a thesis of their paper which communicates the goal and scope of the paper. ii. Organize the argument of the paper on the thesis, with clarity, and without addition, irrelevant material.. iii. Students are assessed for their insight on the case to include their ability to synthesize multiple concepts or apply concepts in a novel manner. iv. The paper and presentation must be balanced with a charitable read of opposing arguments and a multi-faceted assessment of the case. v. The paper and presentation must correctly incorporate concepts from the course such as an industry analysis and/or an organizational assessment to develop a realistic course of action for a firm or individual. 2. During majors last year in residence in either the fall or spring semester,[the Department administers a senior assessment, which consists of a three-hour examination that requires them to answer a 5-6 questions that directly test their competency in the major. Only majors who have completed all the core and required courses in their major can take this exam. To ensure that they have achieved a sufficient level of competency, at least two departmental faculty members evaluate the examinations along the following criteria 3. Student is concise, structured, and clear in answering the question. 4. Student addresses the question using concepts from the major. For example, students in international economics and finance are expected to be able to analyze a policy problem by using an IS/LM in an openned economy as well as by using Developed 2007-2008. Last update Fall 2009 21
intertemporal analysis.. 5. To pass, student is able to meet requirements i and ii for 5 of 6 questions answered. 6. To pass with honors, student is able to meet requirements i and ii for all questions answered plus student adds insight, parallel examples, alternative readings of the questions and answers, or analysis from other classes. Only approximately 2% of the students are able to pass with honors. A score of "Pass" or " Pass with Honors" is the requirement for graduation. Use of Results to Improve Student Learning The department continues to evaluate the structure of the major requirements and the individual course pedagogy based on assessments from student evaluations, market demands by talking to prospective students and parents as well as current students, and outcome results through feedback from alumni and potential employers. For example, based on feedback from former students, the instructor of the ECON 223 recently changed the econometric software employed in the course. Developed 2007-2008. Last update Fall 2009 22
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study Goals and Assessment of Student Learning Outcomes Bachelor of Science in Business Administration in Management Program Description The core requirements consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 323: Introduction to Statistics I (Now ECON 223) ECON 324: Introduction to Statistics II (Now ECON 563: Econometrics)ECON 543: Applied Macroeconomics ECON 546: Managerial Economics MGT 218 : Microcomputer Applications in Business MGT: 240: Introduction to Management Information Systems MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics MGT 521 or MGT 522: Fundamentals of Business Law MGT 545: Principles of Marketing After completion of the core, students move beyond the fundamentals by taking three (3) required courses including leadership (MGT 510), Management of Human Resources ( MGT 530), and Managerial Decision Making ( MGT 565) and three (3) intradepartmental elective courses such as Entrepreneurship (MGT 572), International Marketing (MGT 562), or an internship (MGT 500) to name only three examples. Students complete their studies by taking a capstone course in management strategy (MGT 575). Goals for Student Learning Students who graduate with a B.S.B.A. in Management will: 1. Explain the differences among the Different leadership approaches, the ethical implications of each approach, and how each would work in a business setting 2. Explain core management concepts such as organizational structure, management Developed 2007-2008. Last update Fall 2009 23
decision making, business ethics, leadership, teamwork, and control systems. 3. Demonstrate a solid understanding of the fundamentals of strategic management. 4. Understand the importance of pressing management issues such as cultural diversity, business ethics, and international management. Student Assessment Outcome Measures 3. Seniors enroll in a capstone course in management strategy. The course brings together and synthesizes material from finance, micro and macro economics, marketing, operations, information systems, business ethics, and international business to assess organizations and develop alternative courses of action based on the goals of the organization and fit within larger business environment. 1) The course emphasizes how seniors would communicate within business practice through case summary write ups and short presentations through out the semester. In addition, core strategic decision making concepts and tools for industry and organizational analysis, formulation of strategic plans, and analysis of a strategic plan are introduced and tested in an examination consisting of 4-6 short answer questions focused on a single business case. These core concepts are taught through both class discussions centered on a specific chapter in the text plus an example to work through in class and reinforced in the application to a business case using case method teaching. The use of case methodology applies directly to the goal of teaching concepts of strategy with an eye on practicality in a business setting. 2) The course culminates in the development of a business case on an issue of the students choice and corresponding analysis which utilizes the concepts of the course. The students develop a proposal and outline for their project to be critiqued by their peers and the professor. The summary case and analysis is presented to the class and developed into a paper. The students are graded on their ability to 3. State a thesis of their paper which communicates the goal and scope of the paper. 4. Organize the argument of the paper on the thesis, with clarity, and without addition, irrelevant material.. 5. Students are assessed for their insight on the case to include their ability to synthesize multiple concepts or apply concepts in a novel manner. 6. The paper and presentation must be balanced with a charitable read of opposing arguments and a multi-faceted assessment of the case. 7. The paper and presentation must correctly incorporate concepts from the course such as an industry analysis and/or an organizational assessment to develop a realistic course of action for a firm or individual. 4. During majors last year in residence in either the fall or spring semester,[the Department administers a senior assessment, which consists of a three-hour examination that requires them to answer a 5-6 questions that directly test their competency in the major. Only majors who have completed all the core and Developed 2007-2008. Last update Fall 2009 24
required courses in their major can take this exam. To ensure that they have achieved a sufficient level of competency, at least two departmental faculty members evaluate the examinations along the following criteria 3. Student is concise, structured, and clear in answering the question. 4. Student addresses the question using concepts from the major. 5. To pass, student is able to meet requirements i and ii for 5 of 6 questions answered. 6. To pass with honors, student is able to meet requirements i and ii for all questions answered plus student adds insight, parallel examples, alternative readings of the questions and answers, or analysis from other classes. Only approximately 2% of the students are able to pass with honors. A score of "Pass" or " Pass with Honors" is the requirement for graduation. Use of Results to Improve Student Learning The department continues to evaluate the structure of the major requirements and the individual course pedagogy based on real-time assessments from student evaluations, market demands by talking to prospective students and parents as well as current students, and outcome results through feedback from alumni and potential employers. The schedule, syllabus, material, and approach to the management classes is re-assessed before each semester. Approximately 20% of the course material is refreshed once a year to try new material and approaches and remain relevant to the current business climate. Finally, contemporaneous business issues are incorporated in the form of news clippings and videos which are researched anew every semester for the core management courses of MGT 423 and MGT 575. Developed 2007-2008. Last update Fall 2009 25
DEPARTMENT OF BUSINESS AND ECONOMICS Baccalaureate Study Goals and Assessment of Student Learning Outcomes Bachelor of Science in Business Administration in Marketing Program Description The core requirements consist of the following courses: ACCT 305: Introduction to Financial Accounting ACCT: 306 Introduction to Managerial Accounting ECON 101: Principles of Macroeconomics ECON: 102 Principles of Microeconomics. ECON 323: Introduction to Statistics I (Now ECON 223) ECON 324: Introduction to Statistics II (Now ECON 563: Econometrics)ECON 543: Applied Macroeconomics ECON 546: Managerial Economics MGT 218 : Microcomputer Applications in Business MGT: 240: Introduction to Management Information Systems MGT: 423 Management Theory and Practice MGT 426: Principles of Finance MGT 501: Ethics in Business and Economics MGT 521 or MGT 522: Fundamentals of Business Law MGT 545: Principles of Marketing After completion of the core, students move beyond the fundamentals by taking three (3) required courses including Market Research( MGT 546), Consumer Behavior (MGT 547), and Marketing Strategy (557). They also take three intradepartmental electives such as Selling and Sales Management (MGT 548) and International Marketing (MGT 562 ), just to name two examples. Students complete their studies by taking a capstone course in management strategy (MGT 575). Goals for Student Learning Students who graduate with a B.S.B.A. in Marketing will: 1. Have a firm grasp of the core concepts of marketing. Specifically: a. Know the main elements of advertising, be able to estimate the value of a brand, and describe the benefits of brands to firms and consumers. b. Demonstrate an understanding of the consumer decision-making process, know the strategic and moral implications of the difference between Developed 2007-2008. Last update Fall 2009 26