The department’s focus, and hence its name, is a general approach to economic and commercial activity. The department emphasizes the study of business as concrete social and historical phenomena. An emphasis is also placed on the relationship between commercial activity and the social context which it creates and which influences it, and on the consequences of commercial and economic development in the modern world.

     The department curriculum focuses upon how society is organized to produce goods and services. It is through this broader, more historical approach that the student gains a realistic perspective of modern business and the competitive global environment. The student gains the values, the principles, and the insight to weigh short-term versus longer-term profit, to weigh technical versus fundamental analyses.

     Business majors are required to take courses in finance, accounting, quantitative analysis, marketing, and management. Economics majors study the major areas of economic theory and econometrics. Yet, rather than the simple acquisition of technical skills, majors are also required to take courses which place these issues in a historical and institutional context; thus, the student learns to understand why the issues and techniques are important.

BUSI 211. Quantitative Methods I. An introduction to decision analysis using spreadsheets and data management techniques, data analysis, and hypothesis testing of multivariate data through inferential statistics. Prerequisite: MATH 106. (Two credits.)

BUSI 212. Quantitative Methods II. An introduction to design analysis using probabilistic and classical operations research techniques and through survey design and testing. Prerequisite: MATH 106. (Two credits.)

BUSI 218. Business Writing. Fundamentals of business writing and application to professional business writing tasks. Assignments replicate typical business cases and situations, including a report compiling, interpreting and documenting research. Prerequisite: BUSI 105 and ECON 200. (Two credits.)

BUSI 250. Special Topics. (One to three credits.) May be repeated.

BUSI 305. Administration and Organization. An examination of the modern enterprise from the perspective of its internal operations and the theory and practice of management. Prerequisites: ACCT 213, BUSI 110 and ECON 200. (Three credits.)

BUSI 306. Business Finance. An introduction to the principles of financing business, integrated with a study of institutional finance. Covers current topics of managerial finance, including capital management, the management of working capital, capital budgeting, the acquisition of funds, and stock and bond valuation. Prerequisite: ACCT 213 and ECON 200. (Three credits.)

BUSI 307. Principles of Marketing. A basic study of the ways in which businesses determine consumers’ needs and direct the flow of goods and services. Case analyses are used to develop students’ problem-solving abilities. Prerequisite: ECON 200. (Three credits.)

BUSI 315. Negotiations.  (Three credits.)

BUSI 322. Legal Environment of Business. An introduction to the history, structure, and procedure of the American legal system and the legal environment of business. (Three credits.)

BUSI 325. Innovation and Change in Organizations. A study of the processes through which organizations change over time and the problems created by both intended and unintended changes. (Three credits.)

BUSI 335 Human Resources Management.  (Three credits.)

BUSI 345. Globalization and Organization Change. Study of multinational business. Emphasis on how corporations have adjusted to and influenced trends to increased globalization. Distinctions are drawn between international and domestic business operations. (Three credits.)

BUSI 350. Special Topics in Business Administration. May be repeated for credit. (Three credits.)

BUSI 355. History of Managerial Thought. A study of various authors who have addressed the issue of organizing and administrating human activities in relationship to other aspects of social thought. Prerequisites: Junior standing, BUSI 110 and 305, or permission of the instructor. (Three credits.)

BUSI 356. Investments and Portfolio Analysis. An introduction to security markets, security instruments, and speculation opportunities with an emphasis in practical investing. Emphasizes portfolio management. Prerequisite: BUSI 306. (Three credits.)
 

BUSI 357. Marketing Management. A study of the roles played by pricing, promotion, product mix, and distribution strategies in achieving management goals. Includes extensive participation in a game simulating marketing-management situations and requiring team cooperation and the development of analytical skills. Prerequisite: BUSI 307. (Three credits.)

BUSI 367. Advertising. A study of a variety of mass promotion variables and techniques. Using an advertising campaign approach, students study both the strategy and tactics of advertising and integrate the concepts of promotion into a full advertising campaign. Prerequisite: BUSI 307. (Three credits.)

BUSI 375. Leadership and Politics in Organizations. A study of the relationship among leadership, politics, and authority in the creation, organization, and administration of the enterprise. Prerequisites: Junior standing; BUSI 305. (Three credits.)

BUSI 382.Commercial Law. Study of business law tailored for the CPA. Includes the common law of contracts, an introduction to the Uniform Commercial Code, agency law and negotiable instruments law. (Three credits.)

BUSI 383. Information Systems. Study of the fundamentals of accounting system design including an analysis of accounting applications within functional areas of a firm, hardware and software applications, and the control of computerized accounting systems. Prerequisites: ACCT 214 and BUSI 212. (Also ACCT 383.) (Three credits.)

BUSI 400. Internship. An off-campus experience working in a professional managerial environment under the supervision of a mentor. Permission of instructor required. Prerequisites: BUSI 305 and BUSI 306 or 307. (Three credits.)

BUSI 404. Seminars in Business. Includes such topics as operations/production management, marketing channels and futures markets, and human relations. Prerequisites: BUSI 305 or permission of the instructor. (Three credits.)

BUSI 405. Strategy and Structure. A study of the modern enterprise which focuses on the formulation and implementation of its strategy with particular attention to the relationship between the strategy and the larger society in which the enterprise operates. Prerequisites: Senior standing; BUSI 305, 306, 307, and ECON 300 or 301; or permission of the instructor. (Three credits.)

BUSI 406. Applied Business Strategy. Individually designed and structured problem-solving experience involving students working under faculty supervision with available (usually area) businesses (primarily small businesses) to develop and apply elements of sound business strategy. Prerequisites: Senior standing; BUSI 305, 306, 307, and ECON 300 or 301. (Three credits.)

BUSI 410. Political Economy and Commerce Honors I. Participation in a joint student/faculty discussion of contemporary accounting management or economic policy issues using political economy methodology and analysis. Spring semester of junior year. Permission of instructor required. (One credit.)

BUSI 411. Political Economy and Commerce Honors II. Research on contemporary accounting management or economic policy issue using political economy methodology and analysis. Fall semester of senior year. Permission of instructor required. (One credit.)

BUSI 412. Political Economy and Commerce Honors III. Leadership and presentation in joint student/faculty discussion of contemporary management or economic policy issues using political economy methodology and analysis. Spring semester of senior year. Permission of instructor required. (One credit.)

BUSI 420. Independent Study. May be repeated for credit. (One to three credits.)

BUSI 409. International Business Strategy.  (Three credits) 

ECON 120G. Contemporary Economic Problems. Interpretation and analysis of recent economic events, problems, and policy issues based upon economic principles. (Three credits.)

ECON 200G. Principles of Economics. Basic principles and processes in micro- and macro-economics are surveyed; production, market structures, consumption patterns, role of competition and prices; determinants of national income, employment, inflation, and exchange values and role of monetary and fiscal policy. (Four credits.)

ECON 250. Special Topics. (One to three credits.) May be repeated.

ECON 300. Intermediate Price Theory. A rigorous analysis of the modern micro-economic theory of the behavior of the firm and the individual. Prerequisite: ECON 200. (Three credits.)

ECON 301. Intermediate Macro-economics. A detailed examination of the elements that determine the level of national income. Includes analysis of government fiscal and monetary policies. Prerequisite: ECON 200. (Three credits.)

ECON 310. Regulation and Legislation. Analyzes the forces leading to government regulation, the consequences of such regulation, detailed examination of several regulated industries and environmental policies. Prerequisite: ECON 200. (Three credits.)

ECON 311. Labor, Unions, and Industrialization. An introduction to the institutional aspects of the American labor force and its organization, wage and employment theory, the economic role of collective bargaining, and the basic ingredients of public policy toward labor organizations. Prerequisite: ECON 200. (Three credits.)

ECON 320. Industrial Organization. Analysis of the firm and market structure, conduct, and performance. How market structure affects the conduct of firms, and how both structure and conduct affects firm and market performance. Special emphasis is placed on the relevance of this body of knowledge to the individual business. (Three credits.)

ECON 331. Political Economy of Development. A study of contemporary theories of the development of industrial societies which stresses the relationships among various social institutions within the society and among different nations. Prerequisites: Junior standing or permission of the instructor. Offered in alternate years. (Three credits.)

ECON 340. Economics and Law. Microeconomic examination of the social consequences of alternative legal rules including property rights, contract rights, tort liability rules and criminal law. Prerequisites: ECON 200. (Three credits.)

ECON 350. Special Topics in Economics. May be repeated for credit. (Three credits.)

ECON 351G. Comparative Economic Systems. An analysis of the significant similarities and differences in the development, structure, operation, and policies of market-directed, controlled, and mixed economies—with special attention to significant characteristics in economies evolving in non-Western societies. Prerequisite: ECON 200. (Three credits.)

ECON 360. International Trade and Finance. An analysis of the forces affecting, as well as the theory and policy of, international trade and finance. The international monetary system, balance of payments, tariff policies, trade practices, and trade organizations will be emphasized—as well as consequences for individual firms, multinational corporations, and government-owned firms. Prerequisite: ECON 200. (Three credits.)

ECON 361. History of Economic Thought. An examination of major contributions to thought and their significance for modern theory. Prerequisite: ECON 200. (Three credits.)

ECON 370. Public Finance. An examination of the theory and practice of government expenditure, revenue, and debt; the problems of integrating these into a meaningful fiscal policy; and their effect on the distribution of income. Prerequisite: ECON 200. (Three credits.)

ECON 371. Introduction to Econometrics. Single equation linear statistical models, estimation and hypothesis testing; serial correlation, heteroscedasticity; errors in variables; introduction to simultaneous equation models. Emphasis on interpretation and application of econometric models and methods. Offered in alternate years. (Three credits.)

ECON 401. Economic Research Analysis. A capstone study for senior majors in which students choose a topic of inquiry, formulate hypotheses, review the literature, and empirically test their hypotheses and update the literature. (Three credits.)

ECON 402. Selective Seminars in Economics. Topics include regional and urban economics, economic development, mathematical economics, and advanced monetary policy. May be repeated for credit. (Three credits.)

ECON 410. Political Economy and Commerce Honors I. Participation in a joint student/faculty discussion of contemporary accounting management or economic policy issues using political economy methodology and analysis. Spring semester of junior year. Permission of instructor required. (One credit.)

ECON 411. Political Economy and Commerce Honors II. Research on contemporary accounting management or economic policy issue using political economy methodology and analysis. Fall semester of senior year. (One credit.)

ECON 412. Political Economy and Commerce Honors III. Leadership and presentation in joint student/faculty discussion of contemporary management or economic policy issues using political economy methodology and analysis. Spring semester of senior year. (One credit.)

ECON 420. Independent Study. May be repeated for credit. (One to three credits.)

     Students are encouraged to enroll in one of Monmouth College’s foreign exchange programs. Participants in these programs learn about that nation’s business environment, culture, and language while in that particular country of interest.

     Career opportunities for INTERNATIONAL BUSINESS majors exist in many types of organizations since even small firms sell internationally via the World Wide Web. Employers of international business graduates include financial institutions, manufacturers, management and marketing consulting, government, and technology companies. Graduates joining small and mid-sized firms will find many complex and challenging international business opportunities in the United States and abroad.

     Students must choose two courses from the list above or complete six (6) semester hours of electives with approval of the program coordinator. Students may select courses from this list without prior approval of the program coordinator. With the approval of the program coordinator, students may substitute courses from the recommended list below or propose other courses which involve course material directly related to international studies or a geographic focus.

ANTH 360. Cultures of the Middle East. Provides background information about historical developments in the regions, reviews the role of Islam, and examines contemporary everyday/popular cultures. (Three credits.)

POLS 200. Introduction to Comparative Politics. Examines diverse forms of national politics, including industrialized democracies, communist regimes, and developing nations. Also examines the basic conceptual and methodological tools of comparative political inquiry. (Three credits.)

POLS 202G. Modern Japan. A study of the social, economic, and political development of modern Japan, emphasizing Japanese responses to problems posed by contacts with the West. (Also HIST 202.) (Three credits.)

POLS 397. States and Markets. Through an integration of perspectives and most recent research from the four main areas of political science—comparative politics, international relations, American politics and political philosophy—this course will examine the shifting relationship between political authority and the economy. Open to juniors and seniors. (Three credits.)

RELG 210G. Judaism and Islam. A study of the origins, history, rituals, sacred writings, beliefs, practices, and modern developments among Jews and Muslims. Special attention is given to understanding similarities and differences between Judaism, Christianity, and Islam as monotheistic traditions which all trace their roots to Abraham. No prerequisites. This course meets the cross-cultural requirements of the religious studies major. (Three credits.)

RELG 300G. Philosophy and Religions of Asia. An introduction to the origins, histories, thought, practices, and developments of the great religions and philosophies of Asia. The course will study some of the following: Hinduism, Buddhism, Confucianism, Shintoism, Taoism, Zoroastrianism, Jainism, and Sikhism. Eastern philosophies will be explored in religious and cultural contexts. This course meets the cross-cultural requirement of the religious studies major. (Also PHIL 300.) (Three credits.)

SOCI 343. Sociology of Development. A comparative/historical analysis of conditions in the post-colonial developing world. Topics include the major theories of development, inequality between nations, and the social consequences of various development strategies and policies. (Three credits.)

SOCI 345. Social Inequality: Local and Global Perspectives. An examination of social stratification, which concerns the unequal distribution of wealth, income, status, and power. Considers how life chances of individuals vary by social class, gender, race and ethnicity. Explores the relationship between globalization, global disparities in wealth, and inequality within the United States. (Three credits.)