The Department of Political Economy and Commerce offers
programs in both Business Administration and Economics. The department offers
the opportunity to take advanced courses in management, finance, marketing,
international business, and public policy.
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.
Requirements for the Business Administration Major:
ACCT
203
Accounting Foundations I
BUSI
105
Introduction to Commerce
BUSI
211
Quantitative Methods I
BUSI
212
Quantitative Methods II
BUSI
218
Business Writing
BUSI
305
Administration and Organization
BUSI
306
Business Finance
BUSI
307
Principles of Marketing
ECON
200
Principles of Economics
MATH
106
Elementary Statistics
One of the following two courses:
BUSI
405
Strategy and Structure
BUSI
406
Applied Business Strategy
One of the
following two courses:
ECON 300
Intermediate Price Theory
ECON 301
Intermediate Macro-economics
Also required are four additional 300+ level courses from the offerings in
business administration, accounting, and economics. Students are
encouraged, but not required, to enroll in advanced writing or communication
courses. Students planning to gain an MBA are encouraged to
enroll in Calculus. A student must earn at least a grade of C− in all
prerequisites before taking
a required course.
Requirements for the Business
Administration Minor:
ACCT
203
Foundations of Accounting I
BUSI
105
Introduction to Commerce
ECON
200
Principles of Economics
Two of the following three courses:
BUSI
305
Administration and Organization
BUSI
306
Business Finance
BUSI
307
Principles of Marketing
Plus
one additional 300 level business course.
Honors Program in Business:
By invitation and application, students prior to the
spring semester of their junior year are selected for an honors program of
participation, research, and presentation on contemporary management and
economic policy issues. This program involves a sequence of one-semester hour
courses offered each of the student’s last three semesters at Monmouth College.