Assistant Professor of Accounting and Economics/Finance;

ckdussold@mckendree.edu; (618) 537-6988; Piper Academic Center 107

Brian Parsons, Ph.D., C.P.A., Assistant Professor of Finance;

bparsons@mckendree.edu; (618) 537-6904; Piper Academic Center 106

 

Frank Spreng, Ph.D., C.P.A., C.M.A, J.D, Professor of Economics;

fspreng@mckendree.edu; (618) 537-6902; Piper Academic Center 100

 

Economics and Finance students focus on the study of the allocation of resources with an emphasis on community, business and financial resources. In particular, students will be able to develop and interpret operating budgets, capital budgets, investment portfolios, and develop and manage capital structure. After studying economics, students will be able to use tools like opportunity costs, supply, demand, marginal analysis, the equation of exchange, and the theory of trade. To be effective in these activities, students will develop their oral and written communication skills, their critical thinking skills, and their numerical skills.

 

The major in Economics and Finance provides a solid academic base and opens a number of career options. Such career options include positions in commercial banking, the securities business, financial planning, government agencies, and financial consulting. The major also provides a sound foundation for post graduate studies in finance, economics and business administration.

 

To receive a Bachelor of Business Administration degree in Economics and Finance, the student must successfully complete the business core and the major requirements listed below. The student must complete all work applied to the major with a minimum cumulative grade point average of 2.25. Any business course outside of the business core may be applied toward the completion of requirements for only one business major or minor. The Pass/C-/D/Fail option may not be chosen for a course fulfilling a major or minor requirement.

 

ECONOMICS & FINANCE MAJOR:                                                                       60 crs.

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Business core requirements                                                                             39 crs.

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ACC 261 ACC 262 ECO 211 ECO 212 BUS 303 or BUS 304 FIN 308 BUS 310 MTH 310 MGT 204 MKT 205 BUS 410 or ACC 321 MGT 450

PRINCIPLES OF ACCOUNTING I        PRINCIPLES OF ACCOUNTING II      PRINCIPLES OF MICROECONOMICS   PRINCIPLES OF MACROECONOMICS    BUSINESS LAW I        BUSINESS LAW II    PRINCIPLES OF BUSINESS FINANCE   QUANTITATIVE ANALYSIS FOR BUSINESS DECISIONS  STATISTICS     PRINCIPLES OF MANAGEMENT      PRINCIPLES OF MARKETING  MANAGEMENT INFORMATION SYSTEMS     COMPUTERIZED ACCOUNTING SYSTEMS    BUSINESS STRATEGY AND POLICY

(4) (4) (3) (3) (3) (3) (3) (3) (4) (3) (3) (3) (3) (3)

 

ECO 309 ECO 353 FIN 360

MONEY AND BANKING     MANAGERIAL ECONOMICS  FINANCIAL MANAGEMENT-APPLICATIONS & CASES

(3) (3) (3)

Plus four Economics and Finance electives    at least two of which must be at the 300-400 level.

(12)

  

 

The minor in Economics is available to students in any major. To receive a minor, the student must complete the required courses listed below and a minimum of six credit hours of economics (ECO) electives at the 300-400 level. The student must complete work applied to the minor with a minimum of a 2.25 cumulative grade point average.

 

ECO 211 ECO 212 ECO 309 ECO 353 MTH 310

PRINCIPLES OF MICROECONOMICS   PRINCIPLES OF MACROECONOMICS    MONEY AND BANKING       MANAGERIAL ECONOMICS    STATISTICS

(3) (3) (3) (3) (4)

and two additional upper level Economics courses

(6)

 

The minor in Finance is available to students in any major. To receive a minor, the student must complete the required courses listed below and a minimum of six credit hours of finance (FIN) electives at the 300-400 level. The student must complete work applied to the minor with a minimum of a 2.25 cumulative grade point average.

 

ACC 261 ECO 211 FIN 308 FIN 355 FIN 360

PRINCIPLES OF ACCOUNTING I   PRINCIPLES OF MICROECONOMICS    PRINCIPLES OF BUSINESS FINANCE INVESTMENTS    FINANCIAL MANAGEMENT-APPLICATIONS & CASES

(4) (3) (3) (3) (3)

and two additional upper level Finance ourses.                                                                                ACC 262 is recommended for students completing this minor.

(6)

 
ECONOMICS AND FINANCE ELECTIVES:

ACC 352 ECO 350 ECO 351 ECO 352 ECO 380 ECO 470 ECO 480 FIN 306 FIN 355 FIN 380 FIN 470 FIN 480

FEDERAL INCOME TAX    CURRENT ECONOMIC ISSUES     LAW AND ECONOMICS     LABOR ECONOMICS        TOPICS IN ECONOMICS   INTERNSHIP IN ECONOMICS    INDEPENDENT STUDY IN ECONOMICS    CONSUMER FINANCE        INVESTMENTS       TOPICS IN FINANCE   INTERNSHIP IN FINANCE        INDEPENDENT STUDY IN FINANCE

(3) (3) (3) (3) (3) (3) (1-3) (3) (3) (3) (3) (1-3)

Analysis of individual decision making and the firm’s decision making regarding the allocation of resource inputs and pricing of outputs. Each semester.

 

Introduction to major areas of macroeconomic theory and policy. Topics include national income, fiscal policy, monetary policy, international trade and economic growth. Prerequisite: ECO 211. Each semester.

 

An introduction to monetary standards and theories, commercial banking structure and operations, monetary and fiscal policy implementation, central banking and the Federal Reserve System. Prerequisites: ECO 211 and 212. As needed. Same as FIN 309.

 

Focus on the role of markets in guiding human behavior. Emphasis will be on the market viewpoint of selected issues. Prerequisites: ECO 211 and 212. As needed.

 

The focus of this course is the intersection between principles of economics and the role of law as a guiding force for human behavior. The approach is to consider various legal topics from a microeconomic point of view. Legal topics are selected from among regulation of markets, legal procedure, tort, criminal, property, contract, tax, and corporate law. Prerequisite: Econ 211. As needed.

 

Modern labor issues like labor markets, wages and fringe benefits, human capital, income distribution, labor unions and collective bargaining are studied. Prerequisite: ECO 211. As needed.

 

Application of microeconomics to managerial and organizational decision making. Strong emphasis is placed on student problem solving and case analysis. Prerequisites: ECO 211 and 212. It is desirable for students to have completed MGT 204 and MTH 310. As needed.

 

As needed.

 

 

 

A basic course in personal finance. Topics include: financial planning, establishing credit, purchasing a home and planning an insurance program. Open to all majors. Prerequisite: ECO 211. As needed.

 

Basic financial management of the business firm involving procurement, allocation and control of funds with the objective of maximizing shareholder wealth. Prerequisites: ACC 262 and ECO 211. Each semester.

 

An introduction to monetary standards and theories, commercial banking structure and operations, monetary and fiscal policy implementation, central banking and the Federal Reserve System. Prerequisites: ECO 211 and 212. As needed. Same as ECO 309. As needed.

 

This course studies financial assets and their allocation in efficient portfolios with emphasis on equities and fixed income securities. Major topics include financial asset valuation, risk and return, market efficiency and asset allocation. Prerequisite: FIN 308. As needed.

 

Application of basic financial techniques and principles in financial administration, policy, and decision making. The case-study method is used. Prerequisites: FIN 308, MTH 310. As needed.