ECONOMICS, FINANCE AND BANKING
Professors: Charles C. Fischer*,**, Chairperson; Bienvenido Cortes*,
Michael Muoghalu*, Kenneth L. Smith*
Associate Professor: Kevin Bracker*, Anil Lal*
Instructor: June Freund
* Graduate Faculty
**University Professor
Room 211 Kelce
Telephone: 620-235-4547
Fax: 620-235-4572
http://www.pittstate.edu/econ
e-mail: chuck@pittstate.edu
Undergraduate
Bachelor of Business Administration Degree with
Majors in Economics and Finance
Minor in Economics
The Department of Economics, Finance and Banking offers baccalaureate degree programs with majors in economics and finance. A minor is offered in economics. The major in economics and the major in finance lead to the Bachelor of Business Administration degree. All students majoring in economics or finance must be admitted to the Kelce College of Business.
Students already admitted to the Kelce College of Business wishing to transfer their major to economics or finance must have a 2.5000 GPA on all hours attempted at that time.
UNDERGRADUATE DEGREE PROGRAMS
A major in economics is designed for students who wish careers in bank management, business forecasting, labor relations, operations analysis, or who wish to pursue managerial positions in governmental and corporate organizations. A major in finance prepares students for careers in banking, investment houses, savings and loan institutions, credit unions, credit management, and for managerial positions in governmental and corporate organizations. The study of economics and finance requires a blend of analytical, evaluative and descriptive skills and can be very rewarding.
Changes in Requirements
Baccalaureate degree curriculums offered by the Department of Economics, Finance and Banking are periodically revised and updated. Such revisions will be communicated by the department to currently enrolled students majoring in its programs. Each student is required to graduate under the most recent curriculum in effect at the time of that student's graduation unless those revisions would extend the student's graduation date. Requests for exceptions to such curriculum revisions should be filed in writing with the department chairperson.
Junior Standing Prerequisite
Most undergraduate courses offered in the Department of Economics, Finance and Banking numbered 300 and above have a junior standing prerequisite. For purposes of this prerequisite, junior standing is defined as the completion of 55 semester hours applicable to the student's degree program.
BBA DEGREE REQUIREMENTS
Majors in Economics and Finance
Students seeking the Bachelor of Business Administration (BBA) degree with a major in economics or finance must complete the following curriculum. At least 50 percent of the business credit hours (i.e., the credit hours from the areas of accounting, economics, finance, management, marketing, and information systems) that are required for the Bachelor in Business Administration degree must be earned at Pittsburg State University.
Due to the growth of multi-national corporations and the increased interest in international trade, students preparing for business are encouraged to consider foreign language courses when selecting electives in the area of the humanities.
The general education degree requirements consist of 56-63 credit hours of course work.
BASIC SKILLS
Hours
Basic Skills.................................................................18
COMM 207 Speech Communication..........................................3
ENGL 101 English Composition...........................................3
ENGL 190 Honors English Composition or
ENGL 299 Introduction to Research Writing..............................3
Mathematics (9 Hours Required)..........................................9
MATH 113 College Algebra...........................................3
MATH 143 Elementary Statistics.....................................3
MATH 153 Introduction to Analytic Processes*.......................3
GENERAL EDUCATION ELECTIVES
General Education Electives...............................................38-45
Sciences...................................................................8-10
Natural Sciences (Select one)
BIOL 111 and 112 General Biology and Laboratory....................5
BIOL 113 Environmental Life Science................................4
BIOL 211 Principles of Biology I...................................4
Physical Sciences (Select one)
CHEM 105 and 106 Introductory Chemistry and Laboratory.............4
PHYS 160 and 165 Physical Geology and Laboratory...................5
PHYS 162 and 163 Physical Oceanography and Laboratory..............4
PHYS 166 and 167 Meteorology and Laboratory........................4
PHYS 171 and 172 Physical Science and Laboratory...................4
PHYS 175 and 176 Descriptive Astronomy and Laboratory..............4
PHYS 375 and 176 Solar System Astronomy and Laboratory.............4
Social Studies (Select one)...................................................3
SOSCI 100 Introduction to Sociology....................................3
WOMEN 200 Introduction to Women’s Studies..............................3
Political Studies (Select one)................................................3
SOSCI 101 U.S. Politics................................................3
SOSCI 324 Introduction to Comparative Politics.........................3
Producing and Consuming.......................................................9
Economy
ECON 200 Introduction to Microeconomics.............................3
ECON 201 Introduction to Macroeconomics.............................3
Business
CSIS 130 Computer Information Systems...............................3
Fine Arts and Aesthetic Studies
(Select one)................................2-3
ART 155 Printmaking I...................................................3
ART 178 Introduction to the Visual Arts.................................3
ART 188 The Designed World..............................................3
ART 217 Crafts I........................................................3
ART 222 Jewelry Design I................................................3
ART 233 Drawing I.......................................................3
ART 244 Ceramics I......................................................3
ART 266 Sculpture I.....................................................3
ART 277 Painting I......................................................3
ART 288 Western Art History I...........................................3
ART 289 Western Art History II..........................................3
ART 311 Art Education...................................................3
COMM 105 Performance Appreciation.......................................3
COMM 205 Performance Studies............................................3
COMM 295 Theatre History................................................3
ENGL 250 Introduction to Creative Writing...............................3
HPER 151 Dance Appreciation.............................................3
MUSIC 120 Music Appreciation (Classical, Jazz, or World Music)..........3
MUSIC 121 Introduction to Music Literature..............................2
MUSIC 321 History of Music..............................................3
Cultural Studies (Select one)...............................................3-5
MLL 124 French Language and Culture I...................................5
MLL 134 German Language and Culture I...................................5
MLL 144 Portuguese Language and Culture I...............................5
MLL 154 Spanish Language and Culture I..................................5
MLL 184 Russian Language and Culture I..................................5
MLL 194 Korean Language and Culture I...................................5
SOSCI 106 World Regional Geography......................................3
SOSCI 300 Elements of Geography.........................................3
SOSCI 304 Human Geography...............................................3
WOMEN 399 Issues in Women’s Studies.....................................3
Health and Well Being.......................................................4-6
Psychological
PSYCH 155 General Psychology........................................3
Physical (Select one)
FCS 203 Nutrition and Health........................................3
HPER 150 Lifetime Fitness Concepts..................................1
Human Heritage
(Select one from two of the following three categories)........6
History
HIST 101 World History to 1500......................................3
HIST 102 World History from 1500....................................3
HIST 201 American History to 1865...................................3
HIST 202 American History from 1865.................................3
Literature
ENGL 113 General Literature.........................................3
ENGL 114 General Literature (Genre).................................3
ENGL 116 General Literature (Theme).................................3
ENGL 120 Literature and Film........................................3
ENGL 315 Mythology..................................................3
Philosophy
SOSCI 103 Introduction to Philosophy................................3
SOSCI 105 Ethics....................................................3
SOSCI 111 Ethics: Applied Emphasis (___)............................3
SOSCI 208 Logic and Critical Thinking...............................3
SOSCI 231 World Religions...........................................3
Common Body of Knowledge
ACCTG 201 Financial Accounting.............................................3
ACCTG 202 Managerial Accounting............................................3
ECON 326 Business Finance..................................................3
MGMKT 327 Organizational Theory and Behavior...............................3
MGMKT 330 Basic Marketing..................................................3
ECON - Three hours selected from:..........................................3
ECON 330 Money and Banking...............................................3
ECON 418 Intermediate Microeconomics**...................................3
ECON 419 Intermediate Macroeconomics.....................................3
ECON 640 International Trade.............................................3
CSIS 420 Management Information Systems....................................3
MGMKT 320 Business Statistics..............................................3
MGMKT 444 Legal and Social Environment of Business.........................3
MGMKT 477 Quantitative Decision Making.....................................3
MGMKT 626 Operations Management............................................3
MGMKT 645 Business Strategy................................................3
36
Major
Major selected from the following:
Major in Economics Hours
ECON 418 Intermediate Microeconomics............................................3
ECON 419 Intermediate Macroeconomics............................................3
ECON 665 Seminar in Applied Economics...........................................3
Electives in Economics (Restricted to ECON 330, 435, 465, 468, 480, 630,
640, and 693; ECON 330 or ECON 640 cannot be applied here
if taken under Common Body of Knowledge).....................................9
18
Major in Finance Hours
ECON 621 Investments............................................................3
ECON 623 Financial Institutions and Markets.....................................3
ECON 624 Security Analysis and Portfolio Management.............................3
ECON 627 Advanced Business Finance..............................................3
ECON 631 Seminar in Financial Management........................................3
One course selected from those listed below.....................................3
ACCTG 315 Intermediate Managerial Accounting
ACCTG 318 Intermediate Financial Accounting I
ACCTG 520 Advanced Managerial Accounting
18 General Electives (to bring total to 124)....................................7-14
Total.....................................................................124
*Not required of students who have had a course in calculus.
**Recommended course, especially for those planning to pursue an MBA.
Minor in Economics
The minor in economics consists of 21 hours of economics including ECON 200 Introduction to Microeconomics and ECON 201 Introduction to Macroeconomics (other courses restricted to ECON 330, 418, 419, 435, 465, 468, 480, 630, 640, and 693). One course in statistics may be applied to a minor in economics.
DESCRIPTION OF COURSES
UNDERGRADUATE
ECON 191. Issues in Today's Economy. 3 hours. A practical guide to the economy. Emphasis on such important issues as inflation and unemployment, national defense, taxes and deficits, race and sex discrimination, pollution, welfare, and international problems. Designed for non-business students; cannot be taken for credit by students majoring in economics or students seeking the BBA degree. May count towards a minor in economics for non-business students.
ECON 200. Introduction to Microeconomics. 3 hours. Economic theory of households and firms. Determination of equilibrium product and factor prices, allocation of resources and distribution of income, with applications to international trade. Prerequisite: Sophomore standing.
ECON 201. Introduction to Macroeconomics. 3 hours. Basic concepts of economics including the market mechanism, national income accounting and determination, stabilization policies and the problems of economic growth and development. If a student intends to take both ECON 200 Introduction to Microeconomics and ECON 201 Introduction to Macroeconomics, then it is recommended, but not required, that the student take ECON 200 Introduction to Microeconomics before ECON 201 Introduction to Macroeconomics. Prerequisite: Sophomore standing.
ECON 326. Business Finance. 3 hours. The financial structure of business organization, capital structure, and methods of raising fixed or working capital, questions of financial policy, such as dividend policies and the conservation of surplus; comparative balance sheets and income expense statements. Prerequisites: ECON 200 Introduction to Microeconomics, ACCTG 202 Managerial Accounting and junior standing.
ECON 330. Money and Banking. 3 hours. The banking system of the United States with special emphasis upon the Federal Reserve System. Prerequisites: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics, and junior standing.
ECON 418. Intermediate Microeconomics. 3 hours. Consumption, production, pricing, resource allocation, and distribution. Prerequisites: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics, MATH 153 Introduction to Analytic Processes or MATH 150 Calculus I, a "C" in MATH 113 College Algebra or MATH 110 College Algebra with Review or MATH 126 Pre-Calculus, and junior standing. May be taken for honors.
ECON 419. Intermediate Macroeconomics. 3 hours. Determination of national income, employment and the price level; policies to reduce unemployment and/or inflation. Prerequisites: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics, and junior standing. May be taken for honors.
ECON 435. Public Finance. 3 hours. Public expenditures, public revenues, credits, and taxation. Prerequisites: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics and junior standing. May be taken for honors.
ECON 465. Collective Bargaining. 3 hours. Collective bargaining philosophy; bargaining strategies; formulation and administration of labor-management contracts; impact of collective bargaining on the firm, industry, and economy. May be taken for honors. Prerequisites: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics, and junior standing.
ECON 468. Labor Economics. 3 hours. Labor market supply and demand; labor-market institutions; and labor-market policies: full employment, anti-inflation, income maintenance, and manpower. Prerequisite: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics, and junior standing. May be taken for honors.
ECON 480. Public Policies Toward Business. 3 hours. Government treatment of economic problems of private enterprise, monopoly, and competition. Prerequisites: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics, and junior standing. May be taken for honors.
ECON 621. Investments. 3 hours. Functions and operations of security markets: problems of planning and managing investing programs for various types of investors. Prerequisite: ECON 326 Business Finance or permission of instructor, and junior standing. May be taken for honors.
ECON 623. Financial Institutions and Markets. 3 hours. Policies, actions and corporate strategies of financial institutions: banks, insurance agencies, mutual funds and other financial intermediaries. Prerequisite: ECON 326 Business Finance or permission of instructor, and junior standing. May be taken for honors.
ECON 624. Security Analysis and Portfolio Management. 3 hours. Analysis and appraisal of investment securities which treats topics of financial theory in context of recent research and periodical literature which relates to modern portfolio theory. Prerequisites: ECON 326 Business Finance, ECON 621 Investments, or permission of instructor, and junior standing.
ECON 627. Advanced Business Finance. 3 hours. Analysis of financial problems, policies, planning and decision making. Financing current operations, long-term financing and special financial problems. Prerequisites: ECON 326 Business Finance, MGMKT 320 Business Statistics, or permission of instructor, and junior standing. May be taken for honors.
ECON 630. Business Cycles and Forecasting. 3 hours. Characteristics of the business cycle; analysis of underlying causes; critical examination of leading theories; evaluation of proposed remedies; and economic forecasting. Prerequisites: ECON 200 Introduction to Microeconomics and ECON 201 Introduction to Macroeconomics, and junior standing. May be taken for honors.ECON 631. Seminar in Financial Management. 3 hours. A capstone course in finance--one which culminates the course work for the major. Emphasis will be placed on the integration and application of concepts from financial management, investments/security and portfolio management, and institutions/banking, via case studies and computer-based models. Prerequisites: ECON 627 Advanced Business Finance, ECON 621 Investments, ECON 623 Financial Institutions and Markets, or permission of instructor, and junior standing. May be taken for honors.
ECON 640. International Trade. 3 hours. Theory of trade, payment mechanisms, exchange and trade controls, and international cooperation. Prerequisites: ECON 200 Introduction to Microeconomics, ECON 201 Introduction to Macroeconomics, and junior standing. May be taken for honors.
ECON 665. Seminar in Applied Economics. 3 hours. A capstone course in economics--one which crowns or completes the course work for the major. Emphasis is placed on the integration of the tools and concepts of microeconomics, macroeconomics, monetary economics, and international economics. Prerequisites: ECON 418 Intermediate Microeconomics, ECON 419 Intermediate Macroeconomics, and senior standing. May be taken for honors.
ECON 693. Topics in Economics (----____). 3 hours. Study of a specific topic to economics. Specific subject area will be identified each time the course is offered. May be repeated if topic is different. Prerequisite: Permission of instructor.
GRADUATE
ECON 805. Economic Analysis. 3 hours. Microeconomic and macroeconomic concepts. Demand, production, cost, theory of the firm and markets, national income determination, and macroeconomic policy. Waiver: ECON 418 Intermediate Microeconomics and ECON 419 Intermediate Macroeconomics. Prerequisite: MATH 150 Calculus I or MATH 153 Introduction to Analytic Processes.
ECON 827. Seminar in Economics (____). 3 hours. Comprehensive reading and research in various fields of economics. May be repeated if subject matter is different. Prerequisites: ECON 418 Intermediate Microeconomics and ECON 419 Intermediate Macroeconomics or ECON 805 Economic Analysis.
ECON 836. Financial Strategy. 3 hours. Financial management of the firm, emphasizing financial planning, capital budgeting and cost of capital. Case method. Prerequisite: ECON 326 Business Finance, or waiver.
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