Director & Department Chair: Melissa Varao, Ph.D., CPCE
The programs in the Department of Business and Economics build upon the liberal arts spirit and the Catholic values of Salve Regina University, providing a broad range of studies for students interested in leadership and management in a highly competitive global business environment. Students have the opportunity to develop critical, analytical, and decision-making skills as they are introduced to management theories, business practices, and emerging technologies. The challenges and the advantages of working with an increasingly diverse work force are incorporated into appropriate course offerings. The emerging global market and the competitive forces shaping strategic plans and the future of the U.S. and the international business environments are central issues to the Department of Business and Economics programs’, including majors in Accounting, Business Administration, Economics, Financial Management, Global Business and Economics, Healthcare Administration, and Marketing. The department also offers minors in Accounting, Business Administration, Economics, Global Business and Economics, Healthcare Administration, Marketing, Mathematical Finance, and Sports Management. The Business curriculum is developed in consonance with the recommendations of accreditation bodies, the departmental faculty, and an advisory council of business professionals, academic colleagues, staff, and accomplished alumni, including an Executive in Residence, to meet the current demands of the global business environment.
All Majors and Minors excluding the Bachelor of Arts (BA) in Economics and the Bachelor of Science (BS) in Economics within the Department of Business and Economics are professionally accredited by the International Accreditation Council for Business Education (IACBE). The IACBE establishes professional standards for program content and is a leader in requiring outcomes assessment to measure institutional and program effectiveness.
Sigma Beta Delta International Business Honor Society
The Department of Business and Economics maintains an active chapter of Sigma Beta Delta, the International Honor Society for Business, Management and Administration and recognizes academic excellence and personal achievements of undergraduate and graduate students within the Department.
The Alpha Mu Alpha National Honor Society
Alpha Mu Alpha is the national marketing honorary for qualified undergraduate, graduate and doctoral marketing students, and marketing faculty. Students achieving academic excellence in the study of Marketing are invited to join the honor society in the Spring semester of their Senior year.
Omicron Delta Epsilon International Honor Society for Economics
Omicron Delta Epsilon is one of the world's largest academic honor societies. The objectives of Omicron Delta Epsilon are recognition of scholastic attainment and the honoring of outstanding achievements in economics; the establishment of closer ties between students and faculty in economics within colleges and universities, and among colleges and universities; the publication of its official journal, The American Economist; and sponsoring of panels at professional meetings as well as the ODE Graduate Research and Undergraduate Research Award competitions.
American Marketing Association (AMA)
Salve Regina University's American Marketing Association is an international organization for students interested in furthering their study and practice of marketing. The Salve Regina University Chapter of the American Marketing Association provides marketing resources and education by offering professional development activities and networking opportunities. National competition and local community service projects not only enhance members' skills and knowledge, but also promote ethical decision-making and responsible citizenship.
Enactus is an international student organization comprised of 72,000 students from over 1,700 college campuses and 35 different countries. The Salve Regina University Enactus team is dedicated to helping local businesses and non-profit organizations find solutions to their complex, real-world problems. Each year Enactus holds national competitions in 36 different countries to give colleges the opportunity to showcase their teams’ projects and determine a national championship team, which then advances to compete at the Enactus World Cup where one college team is crowned the best team in the world.
Accelerated Bachelor's/Master's Degrees in Business
Salve Regina University offers an accelerated program of study that leads to both a bachelor's and a master's degree within five years. This program is designed for the University's highly motivated, academically talented and qualified undergraduates with a recommended grade point average of 3.30 or higher by Spring of their junior year. Current undergraduates should complete the application process by February 15 of their junior year.
Undergraduate students considered for the accelerated bachelor’s/master’s degree program are conditionally accepted into the master's program and may take graduate courses during their senior year. Up to six graduate credits can be applied to the undergraduate degree and up to six more can be taken for graduate credit. Final program acceptance is contingent upon successful completion of the undergraduate degree and graduate courses in the senior year. The total number of credits required to complete the accelerated bachelor’s/master’s degree program is 150. Undergraduate students may register for no more than two graduate courses per semester.
Individuals interested in earning an M.B.A, M.S. Innovation and Strategic Management, or M.S. Healthcare Administration through this program should inform their appropriate undergraduate advisor and meet with the graduate business program director, ideally by the first semester of their junior year.
Requirement of Majors
Business and Economics Core Requirements
The Department of Business and Economics requires students enrolled in courses of study leading to the award of a degree in Accounting, Business Administration, Economics (BS), Financial Management, Global Business and Economics, Healthcare Administration, or Marketing to complete the following core course requirements (42 Credits):
|MGT-120||Management and Organizational Behavior||3|
|MGT-280||Principles of Marketing||3|
|MGT-300||Ethics for Business||3|
|MGT-403||Business Law-Labor Law||3|
|MGT-490||Strategic Business Planning Capstone||4|
|Select one of the following:||3|
|Ic3 Gs5 Certification: Internet and Computing Core Certification|
|Microsoft Certified Application Specialist|
|Accounting Information Systems 1|
|Select one of the following:||3|
|Quantitative Methods for Business|
|Applied Calculus 2|
Business Bachelor of Science Student Learning Outcomes
At the completion of the program, students will be able to:
- Apply the principal concepts, theories, and practices in and recognize the interrelationships between the functional areas of business.
- Apply the intercultural and global dimensions of management to business decisions.
- Apply the relevant theories and principles associated with the economic environment of business.
- Evaluate legal and ethical principles in business and apply them to organizational decision making.
- Apply business-related research and quantitative tools to the formulation of management decisions.
- Construct coherent oral and written forms of communication and present them in a professional context.
- Work effectively with diverse colleagues in team situations.
- Integrate theory and practice in the business functional areas to analyze organizational problems and challenges.
Economics Student Learning Outcomes
At the completion of the program, students will be able to:
- Understand the strengths and weaknesses of economic theory
- Evaluate the costs and benefits when comparing economic policy choices by synthesizing and interpreting economic information, including quantitative analysis.
- Communicate effectively in writing and orally.
- Have a global economic perspective and are able to assess and compare global economic issues.
- Collect, analyze, and assess economic data.
This course introduces accounting concepts and principles that are used for financial reporting and analysis. The focus will be on understanding the methods and issues related to communicating and interpreting financial information. Topics include accrual accounting, the accounting cycle, financial statement presentation, the time value of money, inventory methods, internal control, cash management, and accounting for assets, liabilities, and stockholders' equity. Microsoft Excel is used extensively in this course.
Students develop proficiency in applying financial accounting concepts as they research and solve problems using Microsoft Excel and other technologies.
This course provides an overview of fundamental managerial accounting concepts. The focus is on what internal users of accounting information need to support the management functions of planning, directing, controlling, and evaluating operations. Topics include cost classifications, cost allocation, costing systems, value-based systems, cost behavior and analysis, budgeting, performance measurement and evaluation, incremental analysis, capital investment decisions, and pricing. Microsoft Excel is used extensively in this course.
Students develop proficiency in applying managerial accounting concepts as they research and solve problems using Microsoft Excel and other technologies.
This course provides a study of more advanced financial reporting techniques expanding on financial accounting concepts introduced in ACC-101-Financial Accounting. Students will take a more in-depth look at the conceptual framework, the development of financial accounting and reporting standards, accrual accounting and the accounting cycle, and ethical issues associated with financial reporting. Understanding the components, presentation, and purpose of the income statement, statement of comprehensive income, balance sheet, statement of shareholders' equity, and statement of cash flows is an integral part of this course. Additional topics include earnings quality, revenue recognition, internal control, and accounting for cash, cash equivalents, receivables, inventories, and long-term operational assets. Microsoft Excel is used to apply time value of money concepts and actual annual reports are used to illustrate the real-world application of the concepts covered. Generally Accepted Accounting Principles (U.S. GAAP) are compared to International Financial Reporting Standards (IFRS) for topics covered in this course.
Expanding on financial accounting concepts covered in ACC-201, Intermediate Accounting I, this course takes a more advanced look at the required financial statements and the related notes to the financial statements prepared in accordance with Generally Accepted Accounting Principles (U.S. GAAP). The focus will be on accounting for and analyzing investments, current liabilities, long-term liabilities, and shareholders' equity. Topics include employee compensation, contingencies, notes, bonds, leases, deferred taxes, pensions, shareholder equity accounts, share-based compensation, and earnings per share for both simple and complex capital structures. Actual annual reports are used to illustrate the real-world application of the concepts covered, and Microsoft Excel is used extensively. Generally Accepted Accounting Principles (U.S. GAAP) are compared to International Financial Reporting Standards (IFRS) for topics covered in this course.
This course expands on the management accounting concepts and techniques presented in ACC104 Managerial Accounting. Emphasis is placed on the presentation, analysis, and interpretation of information to create value in the organization and support decision making. Comprehensive coverage of the costing of products and services leads to an exploration of operational and financial budgeting in support of planning and controlling business operations. Strategic decisions regarding performance evaluation, transfer pricing, value-chain analysis, life-cycle cost management, product-line analysis, and make-buy decisions are explored in the context of ethical decision making and a mindset of continuous improvement. Case studies using Excel and other technologies are used extensively in the course.
This course examines Federal income taxation of individuals by initially introducing students to the formation of tax policy by Congress, the courts and its administration by the Internal Revenue Service. Students study the basic components of the taxable income of individuals including deductions for, and deduction from adjusted gross income as well as tax credits. Students use tax software to plan and complete simulated individual tax returns. Students apply tax laws in a real, practical way for a prospective client.
This course continues the study of taxation of individuals and introduces taxation of corporations, partnerships, and estates. Students perform tax research and prepare tax returns based on case information and use ProSeries Tax Software to complete Individual, Partnership and Corporate tax returns. In addition, we have included the Advanced AARP certification which permits the student to participate in volunteer tax preparation if they so choose. As part of that process the student will utilize Tax Slayer software, giving them a different perspective, which will support the theory learned in class. The topics covered in this course are included in the Regulation section of the CPA exam.
This course uses QuickBooks Pro, Microsoft Excel, and ProSeries as its software platform. After completing a thorough study of the different accounting systems being used in today's business world, students will use Microsoft Excel and QuickBooks Pro to setup a prospective client with an information system that will allow the client to prepare financial statements for the external user as well as plan and prepare budgets for management's internal use. Once the system is in operation it will be used to generate the reports needed to prepare individual and corporate income tax returns. Toward the end of the course students will also review and study for the Intuit QuickBooks User Certification Examination. This examination will be administered online in the University Computer Labs.
Topics in Advanced Accounting include accounting for corporate acquisitions, financial statement consolidations, governmental, and not-for-profit accounting. Using a combination of lectures and cases, students apply current accounting pronouncements, examine ethical issues, and perform complex consolidations of financial statements. Generally Accepted Accounting Principles (U.S. GAAP) are compared to International Financial Reporting Standards (IFRS) for topics covered in this course.
This course exposes students to the auditing profession and the audit process. The CPA profession, demand for assurance services, professional ethics, and legal liability will be addressed. Audit objectives, evidence, planning materiality and risk, internal control and control risk, as well as fraud and information technology will be explored. The application of the audit process to various transaction cycles will be practically examined through the utilization of real-world case problems throughout the course.
This course builds on and integrates a student's previous theoretical study of accounting with extensive use of real-world cases. The course requires students to identify salient accounting issues, research authoritative accounting literature, and analyze relevant data to arrive at a conclusion which is supported by their research. Students develop a data-driven mindset as they translate accounting and business problems into actionable proposals and clearly communicate complex accounting issues. The course provides students with hands-on experience utilizing professional databases, data analytics tools and techniques, and projects designed to refine their oral and written communication skills.
The internship program is designed to provide students with the opportunity to gain practical work experience in a responsible position in a business or government agency. Interns are provided with meaningful work assignments and assigned research projects related to their work experience. Opportunities are developed in consultation with the course instructor and department chair and require approval of both. A second internship is allowed (a total of six credits) provided the second internship is completed at a different organization. Junior or senior academic standing or permission of instructor is required. The second internship (if approved) is applied as an elective
A survey of economic systems, American capitalism, market structures and mechanism, macroeconomic measurements and theories and how these principles of macroeconomics relate to the basic themes of cross-cultural perspective, social justice, and global citizenship.
An examination of economic behavior of households, firms, and industries in both product and resource markets. Current economic topics are used to illustrate the theories.
This course offers an analysis of factors determining the level of income and employment as well as the rate of inflation and growth. The use of monetary and fiscal policy for stabilizing the economy and for accelerating growth is also addressed.
This course focuses on demand and supply of consumer products and economic resources under different market structures. General equilibrium and welfare economics are also discussed.
This course focuses on current global economic debates and challenges facing countries around the world. Possible topics include unsustainable debt, European Union, aging populations, global warming, inequality and poverty, and emerging markets.
This course explores commercial banking, international markets and operations of other types of financial institutions, financial markets, the Federal Reserve System, monetary theories, and monetary policy.
This course introduces students to basic econometric techniques and emphasizes statistical applications to economic theories. The focus of the course is applied econometrics, providing quantitative answers to quantitative economic impact and policy questions. This foundation is enhanced by substantial experiential education opportunities. Students are enlisted by a local or regional public or private client to serve as a class consulting team for a real-life economic impact policy issue. Coupled with primary and secondary research, the econometric principles are applied to develop a thorough analysis and series of recommendations that are presented to the client, interested civic groups and governmental agencies. Past clients have included the Naval Undersea Warfare Center, Vietnam Memorial Wall Commission of Fall River, MA, US Navy NAVSEA National Command (Washington D.C.), Rhode Island Hospitality Association, and the Newport Cliff Walk Commission.
This course explores the role of culture and its relationship to the various democratic capitalist systems that have emerged in the modern global setting. Specifically, this course provides a comparative study of the "Anglo-American" model used by English speaking people, the "Rhine model", used by continental European nations, and the "State-Directed" models used by Japan and China. It also examines the "Oligopolistic" models that characterize most of the rest of the world.
This course explores the theories of economic growth and development, and analysis of the problems of economic development utilizing theoretical tools and data derived from individual countries and groups of countries in a rapidly changing global politico-economy.
From Colonial Jamestown's commercial enterprises in the early seventeenth century to the global e-commerce of the early 21st century, economic forces have shaped the American experience. This course surveys the history of economic America from 1600 to the present. It explores the historic origins of economic growth and change, including: Colonial trade and the American Revolution; early manufacturing and westward expansion; slavery and industrialization; labor and unionization; the welfare state; and globalization.
This course follows the progression of economic ideas as they have evolved over time. The importance of the interplay between historical setting and ideas will be demonstrated. Relevance to current socio-economic and political issues and the conflicting theories that have arisen in response to those critical issues will be investigated.
This course covers theories of risk management in the area of insurance or banking.
The objective of this course is to increase the understanding of China's rise as an economic superpower. Basic topics of business culture in contemporary China will be introduced. Students will also examine and discuss other emerging markets in today's global economy.
Special Topics courses are offered to supplement the educational experience with unique courses that are not part of the normal course offerings.
This course examines the determinants and patterns of international trade, tariffs, and other barriers to trade, international trade organizations, multinational corporations, and international finance.
This course focuses on balance of payments, international capital movement, international monetary standards, exchange control, international financial institutions, international financial markets, international investments, and related topics. The topics provide a background on the international environment as a foundation for a subsequent focus on Multinational corporate managerial and operational analysis including comparative ethical, cultural, and national policy perspectives.
This course focuses on the interrelationship of Politics and Economics. It explores the problems of economic growth and political policy in an increasingly integrated global system. It examines competing models (free market, state-led, Marxist, etc.) and analyzes institutions, such as the International Monetary Fund and World Trade Organization, that help manage international economic relations. And it investigates the moral and cultural questions raised by globalization.
In this course the student will learn about the scope of government activities as they relate to the production, distribution and consumption of wealth, that is, the role the government plays in the allocation of a nation's scarce resources. Junior or senior academic standing is required.
The internship program is designed to provide students with the opportunity to gain practical work experience in a responsible position in a business or government agency. Interns are provided with meaningful work assignments and assigned research projects related to their work experience. Opportunities are developed in consultation with the course instructor and department chair and require approval of both. Two internships may be completed (a total of 6 credits) as long as a second internship is completed at a different organization. Junior or senior academic standing is required. The second internship if approved is applied as an elective.
Supervised study in an area not available in regularly scheduled courses. Junior or senior academic standing, acceptance of project by a faculty member and permission of the department chair are required.
Health Care Administration
This course introduces the students to the U.S. health care system and process by which health care is delivered. It includes a comprehensive overview of the health care industry and the changing roles of the components of the system of health care. It also addresses the technical, political, social, and economics forces responsible for these chances.
This course introduces students to law, policy, and ethics that affect the operation of health care organizations. Legal issues related to the delivery of health care including facility licensing, access, medical liability, insurance coverage, patient rights, patient safety and more will be explored.
This course introduces students to quality improvement principles and tools applied to the health care industry. Students will learn how to develop and conduct audits and inspections that lead to improved customer satisfaction, patient care, and management of services. Goal setting, data collection, analysis, accountability, and continuous improvement will be explored.
This course introduces students to the financial structure and climate of the health care industry. The primary focus is on the application of financial management tools and financial statement analysis for better decision-making in the health care arena. Students will use case studies to simulate real-world issues and develop recommendations based on macro and micro issues within both for-profit and not-for-profit organizations.
This course provides the philosophical, theological and historical foundations for ethical decision-making and policy setting in health care and medicine. It includes the discussion of bioethical issues such as organ transplantation, end-of-life, human experimentation, abortion, treatment of mentally incompetent patients and genetic testing. As well, it will address professional behaviors of health care professionals and administrators, including competency, confidentiality, truthfulness and bias. The roles and responsibilities of institutional ethic committees and review boards will also be covered.
Courses offered in special focus areas as needed.
Management & Business Administration
Learn how Google brings you answers, sends traffic to websites, and ultimately drives business with the help of search engine marketing (SEM) and search engine optimization (SEO). Gain an understanding of leading marketing strategies and learn about the free resources and certifications available through Google.
Build your creative problem-solving skills! This interactive weekend workshop will introduce you to the design thinking process and mindsets: empathy, collaboration, brainstorming, prototyping and testing. Experience for yourself why companies like Airbnb, GE, Tesla, Nike and Fidelity use this dynamic and creative problem-solving process to drive innovation.
The MMT course will introduce students to concepts related to monetarily sovereign governments having special properties to achieve financial stability, and full employment and price stability at any given time during a business cycle. National accounting identities are used to separate the economy into three broad sectors: government, domestic private, and the rest of the world. The first part of the class analyzes the origin and purpose of money. The second part covers national accounting identities to explain how the sectors are interrelated. The third part of the class will look at the government sector, the inner workings of government financing, and its direct connection to the private sector. The course will conclude with identifying current macro level financial problems in the US and abroad and how MMT provides viable and necessary solutions.
This course explores the three most prevalent cybercrimes afflicting today's corporate security professionals: piracy, espionage, and computer hacking. By understanding how each of these threats evolved separately and then merged to form serious global threats, students will be able to examine the impact these threats posed and how the very technologies that created the problems, can help solve them.
When entering the workplace, one is always marketing products, services, ideas, and themselves! Focused on building sustainable, successful and powerful relationships with customers, the end goal of this workshop is to increase the bottom-line while creating a workplace focused on success for all involved.
In this fun, energetic and interactive workshop, students will discover the dynamic speaker within themselves and develop and adapt their unique style to a variety of public speaking situations: meetings, sales, job interviews, informational sessions, etc. Students will learn what they already do well and what they can do to improve. Students will then create and deliver a dynamic speech with a WOW opening, and INTRIGUING middle, and a MEMORABLE close.
The workshop will examine the interaction of the game with the civil rights movement. We will explore the beginnings of the game and how it evolved, fighting through extreme segregation and racist policies, including Jim Crow laws. Emphasis is placed on how the game has been able to bring people together and break down racial barriers.
This course explores the market for social ventures. Examples from practitioners and entrepreneurs are explored, including understanding 'capitalism with a heart' and cause ventures for profit and non-profit. Cause related venture and cause capitalism, that helps the local and global communities, are also explored.
This course provides an overview of career development theories and decision-making skills for career and life planning. It focuses on self-assessment, exploring career options and developing a mind map to help achieve career goals. The course also considers the key financial concepts any adult should understand as they begin their careers, such as budgeting, interest rates, insurance, and investing.
This course explores the financial world. The history of the financial industry and its structure are explored. Students will get an overview of the stock market and how it functions. In addition, course content will focus on U.S. stock exchanges and their participants to better understand global impacts.
With a globalization and e-commerce at an all-time high, retail buying has become easier than ever. This workshop helps students to understand insider information on retail buying from planning a product, sourcing a product, and pricing a product, to profit. This course has elements of product marketing, retail, and entrepreneurship.
This workshop will explore local and regional nonprofit organizations in terms of history, structure, board governance and community impact. Guest speakers representing a variety of roles - including directors, administrators, staff and volunteers - will share their expertise and experiences so that students develop increased awareness of the many and varied needs of the populations served as well as the opportunities available to be a part of a mission-driven organization.
This course serves as the entry-level course in the Sports Management minor and provides an overview of the business of sports. Topics include regulatory agencies, players and coaches' associations, labor relations, intercollegiate and professional sports, sports agencies, and the sporting goods industry. This course will also explore the management principles related to the industry of sports. This course will examine the roles technology and the media have played in the globalization of sports. Students will also be introduced to the diversity of career opportunities within the sports industry.
This course focuses on the four major managerial areas of planning, organizing, directing, and controlling that enable managers to meet their objectives. The nature of the organization is examined, emphasizing those dimensions of individual and group behavior most relevant to management. Emphasis is placed on leadership responsibilities, accountability, social responsibility and the interaction of business with stakeholders. Course assignments develop research, presentation and writing skills.
This course examines the various social and legal issues related to gender and race that influence all aspects of competitive sports.
This course examines the use of the media and public relations to promote the business of sports and related athletic activities.
This course examines the various aspects of sponsorships and fundraising related to the business of sports.
This course examines the importance of contracts to define responsibilities and obligations of the parties involved in organizing and scheduling events and working with unionized groups.
This course highlights the legal aspects, advantages, opportunities and disadvantages associated with sports franchises.
This course makes use of emerging opportunities related to sports management and the related business aspects of sports.
In this introductory course, students are introduced to the fundamental concepts, issues, and theories of tourism and hospitality as an economic sector. The course covers a broad range of topics related to the tourism experience, from organizational development to the impacts of the industry on cultures, economies and planets. Students are also be introduced to key segments of the hospitality industry including lodging, food and beverage, event planning, attraction management, private club management, destination management and more.
This course provides an overview of the moral and ethical issues impacting industry professionals. This course will focus on the importance of both personal and social responsibility in the sports management arena, including the processes and values that exist in today's sports industry. An introduction to the foundations of the legal system and those issues that are specific in the sports industry will be discussed. Topics will include needs assessment and facility feasibility, planning, promotion and operational effectiveness, and risk management.
This course introduces students to four essential business communication skills: professionalism, public speaking, working in teams, effective writing and communication technology. With an emphasis on group projects, students create professional presentations using various research and web-based tools. Writing assignments include resumes, cover letters, business proposals and reports. Job interviews, persuasive messages, cultural and global communications and the ethical dimensions of business communication are also explored.
This course is designed to introduce participants to the essential planning, coordination and review processes related to effective project management and coordination. Class emphasis is on teamwork, use of appropriate planning techniques and related software packages. Participants utilize research, budgetary, written and oral communication and presentation skills to develop the planning and coordination capabilities needed for successful planning, project development and marketing. The course stresses attention to detail, the constraints imposed by time, multiple tasking/coordination, importance of valid information and personal accountability for outcomes.
This course introduces students to food and beverage through the lens of labor costs, supply chain procedures, technology resources and menu management. Students will learn cost calculation, sales concepts, purchasing and distribution considerations, service concepts, presentation skills, dining and beverage etiquette and profit management. The student will learn concepts and methods for food, beverage, and labor control.
This course highlights the operation and management of hotel and resort properties. Lodging industry fundamentals are explored and built upon through analysis of planning, development, management, marketing and financial strategies as related to the unique nature of the service industry. An examination of systematic approaches for development of full-service resorts are presented, alongside discussions of specialized requirements for different types of resorts based on location, culture climate, amenities and activities.
This course provides the entrepreneurial knowledge and skills to lead an entrepreneurial unit within an organization or develop a new venture. Topics include Becoming an Entrepreneurial Leader, Recognizing and Shaping Opportunities, Developing Business Plans and Pitching Opportunities, Attracting Talent and Building Ecosystems, Financing Entrepreneurial Ventures, Partnering with Venture Capitalists, experimenting in the Entrepreneurial Venture, Selling and Marketing in the Entrepreneurial Venture Scaling Entrepreneurial Ventures, Launching New Ventures in Established Companies, and Launching Global Ventures.
This course introduces students to the principles of financial management, and their use in optimizing the value of the organization to stakeholders. The role of financial managers as decision makers and members of the senior management team is explored. Basic analytical methods and computations used in reaching sound short term as well as long-term financial decisions will be presented. The course emphasizes the importance of effectively applying financial skills in all areas of management as well as in one's personal life. Additionally, students learn about capital markets, risk and return, capital structure, methods of determining stock and bond valuations and international aspects of financial management.
This introductory course explores key marketing concepts and potential career paths in marketing. Topics include selecting and evaluating target markets, product mix, pricing strategies, distribution channels, and communications. Through this study, students are better able to recognize the many ways in which organizations create, deliver, and communicate value to consumers.
This course provides students with an understanding of the internal and external issues affecting human resources' decisions and policies. Critical topics examined include equal opportunity, recruitment, selection, development, utilization, performance appraisal, motivation, discipline, workplace safety, union/management relationships, and international human resource considerations. Human resource problems are presented in a case study format and require in-depth research and analysis.
This course is designed to explore the influence of the personal ethics and social values on the decision-making process of business professionals. Course participants develop and use a matrix based on the frameworks of justice, rights, duty, utility and normative ethics to evaluate the consequences of business decisions on a variety of stakeholders. The attempts to curb the unethical actions of business through legal constraints are examined in depth. Emphasis is placed on research, case study analysis, critical thinking and the strengthening of individual accountability and responsibility for maintaining ethical standards based on justice, respect for the rights of others and honesty in the global business environment.
This course provides a comprehensive study of behavioral models and concepts to help understand, evaluate, and predict consumer behavior in terms of marketing implications. This course emphasizes the processes that influence the acquisition, consumption, and disposal of goods and services. Determinants of consumer behavior are studied to recognize how a variety of multicultural and interdisciplinary forces affect decision-making in a dynamic global marketing environment.
This course studies contemporary issues in individual financial planning. Topics include: credit management, investment and tax strategies, insurance planning, retirement and estate planning, and other techniques useful to maximize benefits generated from net worth and cash flow.
This course explores the fundamentals of marketing and how they apply to the industry of sport. An examination of consumer behavior, product development, pricing strategies, distribution strategies, industry trends, public relations, promotions and the use of marketing communications in the sports industry are explored.
This course includes study of all aspects of event management - from implementation through execution. Insight on event planning ranging from small conferences to large events, such as weddings, festivals, conferences, trade shows and more are provided. Topics include needs assessment and facility feasibility, planning, promotion, operation effectiveness, risk management, and the importance of coordination and attention to detail. This course also includes opportunities for students to become certified in multiple event industry professional certifications.
This course introduces students to the field of Investment Planning. Topics covered include setting investment objectives, determining investment values, types of securities, market procedures, analytic techniques, including top down versus bottom-up perspectives and regional and global markets. This course uses a competitive virtual money stock investment simulation to develop an understanding of the functions performed by financial planners and institutional investors. In addition, the class actively manages equity holdings and makes investment decisions involving an actual student-managed Morgan Stanley stock portfolio, thereby addressing critical issues of accountability and fiduciary responsibility.
This course will provide a more rigorous quantitative foundation for students considering finance careers requiring related certifications and serve as a prerequisite for required courses in the Mathematical Finance Minor. The course will introduce students to empirical research of topics related to mergers and acquisitions, Initial Public Offerings (IPOs), corporate reorganizations, valuation, risk assessment, volatility & risk premiums and governance. A key objective of this course will be to develop analytical tools for making sound financing and investment decisions while developing reasoning and analytical thinking skills.
This course considers the theme of pricing derivative securities by replication. The simplest case of this idea, static hedging, will be used to discuss net present value of a non-random cash flow, internal rate of return, and put-call option parity. Pricing by replication will next be considered in a one-period random model. Risk neutral probability measures, the Fundamental Theorems of Asset Pricing, and an introduction to expected utility maximization and mean-variance analysis will be presented. Finally, replication will be studied in a multi-period binomial model. Within this model, strategies for European and American options will be examined.
The quality of business decisions is to a great extent, dependent on the information available to the decision-maker. The purpose of this course is to provide the prospective manager with an understanding of business research. The course presents research as a managerial subject oriented to decision-making. It is organized around the steps one would take in conducting a research project and requires a completed research project.
This course will discuss the role of retailers in the channel of distribution, the types of retailers, and store vs. non-store retailing. Topics may include visual merchandising policies and techniques, retail promotions, merchandise buying, retail management, and strategic planning. This course is strongly recommended for students pursuing a career in retail management, buying, or merchandising.
Professional Selling focuses on the development of qualified customers, list management, creation of sales presentations, and use of closing techniques. Discussion of the selling process will include both consumer and industrial sales industries. This course is strongly recommended for students pursuing a career in professional sales or sales management.
This course introduces students to entrepreneurial marketing. Students will evaluate how entrepreneurial marketing compares to traditional marketing along with innovative approaches in the field. With an emphasis on customer-driven marketing decisions, students will be introduced to the ways in which market conditions and market demand affect sustainability and growth of firms, how to build a strong brand, analyze traditional startup tactics and implement a new venture or product marketing plan.
This course investigates the use of the marketing mix variables and international marketing strategies to better understand the global marketing environment. Students study methods of establishing and servicing foreign markets with emphasis on global brands, pricing strategies, distribution channels, and promotional media. Complex issues of cultural awareness, regulatory risks, competitive business practices, exporting, importing, and tariff barriers are also discussed.
This course introduces financial management decision-making tools and techniques typically applied in corporate frameworks through the lens of entrepreneurship. Students will be exposed to finance and accounting from an entrepreneurial perspective. They will be introduced to financial statement analysis, evaluating financial performance of new ventures, managing financial resources, developing valuations, understanding stakeholder needs, managing investor relations, and evaluating potential for growth in an industry.
This course provides a theoretical framework with practical application of revenue management within the hospitality and tourism industries. Topics include the evolution of revenue management, performance metrics and analysis, technology, revenue maximization, big data, forecasting, pricing strategies and distribution channels through the lens of food and beverage, airline, lodging, event, sport, and recreation/entertainment industries. Current and emerging trends in revenue management will also be explored.
This course examines the relationship created by the U.S. Constitution between government, business, special interest groups, the general population and the environment (internal/external). The course places emphasis on issues of special concern for future business leaders and managers. Specific topics include compliance with internal and external environmental standards established by the Environmental Protection Agency and Occupational Safety and Health Administration as they relate to workplace processes, training, safety, stakeholder concerns and responsible stewardship of resources. International quality standards associated with ISO 9000 (quality) and ISO 14000 (environmental) are integral to the course. Course participants are assigned appropriate research projects linked to course objectives that include cost-benefit analysis, waste stream analysis, training, documentation, reporting, and inspection requirements essential to achieve and sustain regulatory compliance and process improvement. The course includes visits to off-campus sites to integrate classroom learning with first-hand observations.
This course focuses on the role of integrated marketing communications in marketing strategy. Coordinating the promotional elements of advertising, sales promotion, public relations/publicity, interactive/Internet media, direct marketing, social media, social networking, and personal selling for maximum marketing effectiveness is investigated. Both the creative and analytical sides of marketing communications are employed. Students may participate in a national case competition where they develop a campaign theme, conduct primary research, develop creative marketing pieces, plan a media buy, create a media calendar, construct a communications budget, project return on investment, and suggest implementation procedures.
The objective of this course is to increase the understanding of history and social practices on the business relationships between the United States and Japan and other East Asian nations along the Pacific Rim. Participants will examine factors that shape Japanese leadership, decision processes, group norms and social attitudes. Research topics are assigned to facilitate class discussion and understanding of key aspects of Japanese social and political evolution that shape trading and business relationships. This course is strongly suggested for students considering the study abroad opportunity in Japan or East Asia.
Special Topics courses are offered to supplement the educational experience with unique courses that are not part of the normal course offerings.
This course provides business majors essential information related to the legal aspects of the U.S. business environment. Course content includes the relationships of principal and agent, partnerships, corporate formation and termination. Key aspects of contract law, labor law, personal property, liability, commercial paper, and secured transactions and how to read and question contents of legal documents are included in the scope of the course.
This course introduces the Black-Scholes option pricing formula, shows how the binomial model provides a discretization of this formula, and uses this connection to fit the binomial model to data. Following this analysis, the course will discuss Continuous Time Finance by examining in the binomial model, the mathematical technology of filtrations, martingales, Markov processes, and risk neutral measures. Additional topics will include American options, expected utility maximization, the Fundamental Theorems of Asset Pricing in a multi-period setting, and term structure modeling.
Upon completion of this course, students will be able to conduct internal and external analyses, create marketing objectives, and determine appropriate strategy and evaluation criteria. Students will also engage in discussions of competitive and defensive strategies in the marketplace and will complete marketing case studies. In addition, students will prepare for their entry into the business world by creating a professional portfolio.
This course will begin with Brownian motion, stochastic integration and Ito's formula from stochastic calculus. This framework is used to develop the Black-Scholes option pricing formula and the Black-Scholes partial differentiation equation. Additional topics will include credit risk, simulation, and expected utility maximization.
This course examines the theory and practice of combining multiple investments into portfolios. Topics covered include Modern Portfolio Theory, investment policy, asset allocation, manager selection and evaluating portfolio risk and return. Ethical considerations and contemporary developments such as behavioral finance and values-based investing are also explored.
This course serves as a culminating experience for students as they plan and prepare a new venture. Students will synthesize components of entrepreneurship (including marketing, branding, finance, accounting, and market analysis) in the development of their model. Students will consult with entrepreneurs and industry expense in the launch of this venture.
This course explores the application of Total Quality Management theories and techniques in hospitality, lodging, event management, food and beverage, and tourism operations with a focus on organizational effectiveness and both internal and external service quality. Emphasis is placed on the Service Profit Chain (Heskett, Jones, Loveman, Sasser, & Schlesinger, 1994). Topics such as hiring and training practices, employee motivation, employee buy-in, consumer behavior, internal and external customer experience, customer purchase and repurchase intentions, loyalty, and value are covered in detail. Examinations of peer reviewed research, organizational quality audits, performance and gap analyses will facilitate student synthesis of previous knowledge with principles of service quality, and excellence.
Capstone for Accounting, Business Administration, Financial Management, Global Business and Economics, Health Care Administration and Marketing majors. This course serves as an integrative Capstone for the major and the core. Participants in the course are required to identify a potential business opportunity, develop mission and vision statements, conduct strengths, weaknesses, opportunities and threats analyses and market research with a supporting strategic plan, marketing plan, human resource staffing plan, pro forma financial plan with financial statements and plan of operations. Participants interact with the local community to identify potential locations for the business, determine applicable regulations and sources of funding. Business faculty work with students throughout the course to provide structure and guidance. Students are required to make a formal presentation of their proposed business plan to a panel of evaluators comprised of business professionals.
The internship program is designed to provide students with the opportunity to gain practical work experience in a responsible position in a business or government agency. Interns are provided with meaningful work assignments and assigned research projects related to their work experience. Opportunities are developed in consultation with the course instructor and department chair and require approval of both. A second internship is allowed (a total of six credits) provided the second internship is completed at a different organization. The second internship (if approved) is applied as an elective. Junior or senior academic standing or permission of instructor is required.
Supervised study in an area not available in regularly scheduled courses. Junior/senior academic standing and acceptance of project by a faculty member and permission of the department chair is required.