Economics and Business
Division II Chair: J. Pearce
Program Chair: E. McCormack
Faculty: A. Caldwell, J. Cupidon, N. Elbert, V. Grzimek, E. McCormack, I. Norris, M. Reid, N. Sowers, S. Steele, and C. Vazzana
Website: http://www.berea.edu/eco/
Courses: ECO Courses; BUS Courses
Major/Minor Requirements:
Economics B.A. with a Concentration in Methods and Models;
Economics B.A. with a Concentration in International Politics and Policy;
Economics Minor;
Business Administration B.S.;
Business Administration Minor
The mission of the Economics and Business Program is to provide inclusive educational opportunities aimed at developing competencies necessary for meaningful contribution to the professional and academic fields of business and economics. These opportunities are provided in a continuous learning environment for faculty and students. Program goals are based on the College’s established broad learning goals, Great Commitments, and aims of General Education.
General Program Goals
The goal of the Economics and Business Program is to provide students with a course of study that will help them understand and apply the theories and principles of economics and business. Students will learn to view problems and issues from multiple perspectives, apply analytic reasoning and decision making skills, and communicate effectively. Faculty and students will examine contemporary economic and business issues within a framework of ethical reflection and personal responsibility.
Understand and Apply
Students will be able to understand and apply disciplinary theories and principles using the specialized language of economics and business. Students will have a fundamental understanding of how markets work and of their importance. Using appropriate technology and quantitative methods, students will be able to state problems clearly and engage in the research process.
View Problems and Issues from Multiple Perspectives
Students will be able to view problems from a variety of perspectives. Students studying business and economics will be asked to think in multidisciplinary terms and consider alternative points of view when examining issues and designing solutions. The Program provides a diverse learning environment fostering communication and exchange between individuals of widely differing backgrounds.
Decision Making
Students will be able to determine relevant criteria for decision making with an understanding of the risks and tradeoffs involved in the process and in the outcome. Decisions should be supported by appropriate information and analysis.
Communication
Students will be able to write and speak clearly and persuasively in the various modes required by the disciplines, and to support their positions. Careful reading and effective listening are required skills in economics and business. Students pursuing these disciplines will develop the ability to acquire knowledge independently from and critique various media, including text, oral presentations, and media sources.
Responsibility
The Economics and Business Program promotes accountability for individual actions. Students will develop a sense of personal and professional responsibility. Students will be aware of the many ethical dilemmas in economics and business and develop strategies for evaluating these dilemmas, focusing on solutions that promote the common good.
In addition to supporting students' achievement of the Aims of General Education, the Economics & Business Program seeks to assist students in meeting the following learning goals and associated learning outcomes:
Learning Goal 1: Students will be able to understand and apply disciplinary theories and principles using the specialized language of economics and business. Students will have a fundamental understanding of how markets work and of their importance. Using appropriate technology and quantitative methods, students will be able to clearly state problems and engage in the research process.
Learning Outcome 1.1: Develop an understanding of the theories of the discipline and the ability to appropriately apply them.
Learning Outcome 1.2: Demonstrate technical competency in functional areas.
Learning Outcome 1.3: Select and use appropriate functional area tools and techniques including proper use of quantitative methods, as well as mathematical and statistical tools.
Learning Outcome 1.4: Evaluate quality of information and use it effectively.
Learning Outcome 1.5: Use the specialized language of economics and business.
Learning Outcome 1.6: Understand research process and methods.
Learning Outcome 1.7: Understand different kinds of literature including scholarly, authoritative, and popular press.
Learning Outcome 1.8: Appropriately use technology across many contexts and understand the role of/potential for technology.
Learning Outcome 1.9: Think across time.
Learning Outcome 1.10: Understand local, regional, national, and international markets.
Learning Outcome 1.11: Connect and integrate learning across disciplines and functional areas.
Learning Outcome 1.12: Connect learning within the major, between the major and general education program and between the major, and the student experiences beyond college.
Learning Outcome 1.13: Engage in life-long thinking, learning, and research.
Learning Goal 2: Students will be able to view problems from a variety of perspectives. Students studying business and economics will be asked to think in multidisciplinary terms and consider alternative points of view when examining issues and designing solutions.The department provides a diverse learning environment fostering communication and exchange between individuals of widely differing backgrounds.
Learning Outcome 2.1: Approach an issue or problem from multiple perspectives, including interdisciplinary and global perspectives as well as issues of diversity.
Learning Outcome 2.2: Develop an understanding of the regional, national and international environment within which firms operate.
Learning Outcome 2.3: Embrace and understand the value of diverse perspectives, including those from different cultures.
Learning Outcome 2.4: Test an analysis by looking at alternate points of view or disciplinary approaches to provide contrast in the analysis.
Learning Outcome 2.5: Understand the role of value judgments.
Learning Outcome 2.6: Understand the role of culture, politics and governments in economics and business.
Learning Outcome 2.7: Acquire a long-term perspective to create sustainable business solutions.
Learning Goal 3: Students will be able to determine relevant criteria for decision making with an understanding of the risks and trade-offs involved in the process and in the outcome. Decisions should be supported by appropriate information and analysis.
Learning Outcome 3.1: Analyze the appropriateness of the data and information, as well as tools and techniques used for decision making.
Learning Outcome 3.2: Think critically and creatively.
Learning Outcome 3.3: Analyze situations, synthesize information, reason quantitatively, and formulate reasoned and responsible solutions.
Learning Outcome 3.4: Consider an ethical framework for decisions.
Learning Outcome 3.5: Develop models, utilizing appropriate technology.
Learning Outcome 3.6: Understand trade-offs – e.g., cost benefit, ROI, and opportunity cost.
Learning Outcome 3.7: Understand risk and its appropriate incorporation into the decision process.
Learning Outcome 3.8: Make decisions in a wide variety of contexts, including individual and team decision making.
Learning Outcome 3.9: Support opinions with sound knowledge and appropriate research, and document the basis for conclusions and sources of information appropriately.
Learning Outcome 3.10: Criticize debate and explain actions.
Learning Goal 4: Students will be able to write and speak clearly and persuasively in the various modes required by the disciplines, and to support their positions. Careful reading and effective listening are required skills in economics and business. Students pursuing these disciplines will develop the ability to independently acquire knowledge from and critique various media including text, oral presentations, and media sources.
Learning Outcome 4.1: Receive and deliver information appropriately.
Learning Outcome 4.2: Have strong written, listening, and oral communication skills.
Learning Outcome 4.3: Give persuasive oral and written arguments.
Learning Outcome 4.4: Understand appropriate documentation and support for conclusions.
Learning Outcome 4.5: Develop professional oral and written communication skills.
Learning Outcome 4.6: Utilize technology, including internet resources, spreadsheets, and databases to communicate business concepts.
Economics and Business Course Sequencing Tables
Please be aware that the table below represents current planning and is subject to change based on faculty availability and student interest. It is not meant to represent any guarantee to the student that the courses will be offered in the term in which they are currently planned.