Business Studies

Major

Due to University Updates, Course Numbers for all Departments have Changed. Please reference the Courses Tab for new Course Numbers.

Requirements for the Major (57 Credits)

I. Introductory Courses (4 courses, 16 credits)

• ECON 5/ Principles of Microeconomics (4 credits) Every semester
• ECON 6/ Principles of Macroeconomics (4 credits) Every semester
• MATH 3/Introduction to Statistics (4 credits) Every semester
• BUS 15/ Introduction to Financial Accounting (4 credits) Every semester

II. Required Core Courses (6 courses, 24 credits)

• BUS 101/ Management (4 credits) every semester
• ECON 102/ Intermediate Microeconomic Theory (4 credits) every semester
• ECON 103/ Intermediate Macroeconomic Analysis (4 credits) every semester
• BUS 120/Econ 120/Corporate Finance (4 credits) every semester
• REL 127/ Business Ethics (4 credits) Spring semester annually

One of the following two classes:

• HIST 124/ A History of Business in America (4 credits) fall semester of alternate years
• HIST 108/History of Work (4 credits) spring semester of odd numbered years

Students must pass Bus 101 (Management) and BUS 120 (Corporate Finance) with a grade of C- or better in order for these courses to satisfy the requirements of the Business Studies major.

III. Elective Courses (4 courses, 16 credits)

Students must complete at least eight credits in each of the following two areas. INTR 50/Internship Project may be substituted for one of these courses if the specific internship project is approved for the major by the Chair of the Economics and Business Studies Department.

A. Business, Society and Culture electives – complete at least 8 credits from the following:

• BSC 10/ Corporations in Context (4 credits) annual
• ENGL 65/Business Writing (4 credits) every semester
• PANAF 180/Pan-African Studies Seminar (when topic is appropriate) (4 credits) spring semester
• PSCI 102/Public Policy and Administration (4 credits) annual
• SPAN 125/Doing Business in the Hispanic World (4 credits) alternate years
• SOC 110/Sociology of Communications (4 credits) fall semester
• SOC 117/ Sociology of Management (4 credits) spring semester
• THEA 64/ Show: Business (2 credits) alternate years
• HUM 21/Culture and Exchange (2 credits) to be determined

B. Applied Economics Courses – complete at least 8 credits from the following:

• ECON 38/ Economics of Labor and Trade Unions (4 credits) every spring
• ECON 41/ Global Economy (4 credits) alternate years
• ECON 42/ International Business (4 credits) alternate years
• ECON 47/ Economics of Business and Environmental Sustainability (4 credits) alternate years
• ECON 49 and 50/ Wall Street Semester Program (4 credits each) – by application only – every spring
• ECON 118/ Industrial Organization and Public Policy towards Business (4 credits) alternate years
• ECON 119/ Money and Banking (4 credits) annually
• ECON 136/ Political Economy of Race, Class and Gender (4 credits) alternate years

IV. Capstone Course (2 credit)

All students will take this in their senior year.

Minor

Due to University Updates, Course Numbers for all Departments have Changed. Please reference the Courses Tab for new Course Numbers.

About the Business Studies Minor

Director: Jennifer Kohn, Economics and Business Studies Department

The Business Studies minor offers Drew students the opportunity to pursue an innovative study of business organization, commercial culture and market systems. Rooted in the College’s academic and liberal arts traditions, its distinctive multidisciplinary curriculum focuses on the origins, organization, conceptualization, and the social, cultural, and natural impact of business. The knowledge Business Studies minors acquire, the critical learning skills they develop, and their off-campus experiences will equip them to understand and successfully engage the business world, not only as employers and employees, but also as citizens and as members of social, civic, cultural, religious, scientific and other communities and organizations.

The Business Studies minor is comprised of core/required courses and elective courses. The core courses provide students with an introduction to a rich, varied and interrelated body of scholarship on business enterprise drawn from the disciplines of economics, sociology, history, ethics and computer science. Students will study the history, structure and governance of business enterprise-large and small, corporate and entrepreneurial, for profit and not-for-profit, and private, state regulated, and publicly owned. They will explore the relationships and interactions between employers, employees, customers, investors, patrons, clients and other stakeholders (including citizens’ groups, civic and religious organizations, government regulatory authorities, trade and employer associations and consumer, labor and environmental organizations). Students will investigate the interrelationships among the marketing, management and competitive strategies of business firms, their technological and organizational capabilities, and the social, ethical, scientific, humanistic, ecological, and legal traditions, contexts and norms within which they operate.

Requirements for the Minor (24 Credits)

I. Core Courses (4 courses; 16 credits) 

Choose four (4) of the courses below:

• ECON 5/ Economic Principles: Microeconomics
• BUS 10 /Corporations in Context (4)
• HIST 124/A History of Business in America OR HIST 108/The History of Work (4)
• REL 127/Business Ethics (4)
• SOC 117/The Sociology of Management (4)

Note: Core courses can also fulfill an elective requirement if not taken to fulfill a core requirement.

II Electives (2 courses; 8 credits) 

Choose eight credits (8) from the following electives: (Note: some of these electives have prerequisites that are not required for the minor.)

• ECON 6/ Economic Principles: Macroeconomics
• ANTH 20/Cultures, Economies and Globalization (4)
• ENG 65/Business Writing (4)
• CSCI 70/ Computing Technology, Society and Culture (4)
• HUM 21/Culture and Exchange (4)
• LING 10/Language, Communication and Culture (4)
• REL 127/Business Ethics (4)
• SOC 110/Sociology of Mass Communication (4)
• THEA 64/Show: Business (2)
• PANAF 80/Experiential Learning Seminar in Pan-African Studies when topic is appropriate with approval of the Director (2 or 4)
• PSYC 149/Seminar in Industrial Organizational Psychology (4)
• SOC 115/Political Sociology (4)
• SOC 49/Sociology of Work (4)
• BUS 101/ Management (Intermediate Microeconomics is a prerequisite) (4)
• BUS 15/ Introduction to Financial Accounting (4)
• ECON 38/ Economics of Labor and Trade Unions (4)
• ECON 42/ International Business (4)
• ECON 47/ Economics of Business and Sustainability (4)
• ECON 120/ Corporate Finance (4)

Independent Study Courses, Special Topics Courses (BUS 29, 129), or internships may fulfill a Business Studies elective requirement if approved by the Business Studies Director.

Note: Economics Majors may not count any ECON designated class for both the major and the minor. Economics majors must take non-econ designated classes to fulfill a Business Studies minor.

Faculty

Faculty

• Professors: Fred Curtis
• Associate Professors: Jennifer Olmsted (chair), Bernard Smith, Marc Tomljanovich
• Assistant Professors: Jennifer Kohn (Director), Giandomenico Sarolli, Maliha Safri, Miao Chi.

Courses

Courses Offered

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BST 101 - Formerly BUS 1 - Principles of Financial Markets I (4)

This course studies the institutions and operations of financial markets, and their roles in channeling credit and financing new investments. Students will learn the impact of the financial system on local, national, and global economies. The course will also explain the financial history and ethical dimensions of Wall Street and its relation to macroeconomic policy.
Offered summer term only.

BST 102 - Formerly BUS 2 - Principles of Financial Markets II (4)

This course delves into the practical day-to-day operations of the financial markets and institutions located in New York City. The course will involve talks by guest speakers drawn from the finance industry itself, as well as from corporations, government regulatory agencies, and institutional investors, shareholder activists, academics and nonprofit agencies. The class will also go on field trips to securities firms, the New York Stock Exchange, the Securities and Exchange Commission, and various commodity exchanges. Speakers, field trips, and student projects explore recent issues, such as the impact of derivatives and other financial innovations.
Offered summer term only.

BST 111 - Formerly BUS 10 - Corporations in Context (4)

This course examines the institution of the for-profit business corporation in its economic, legal, political, and social contexts. The course will develop critical perspectives on the corporation and use case studies to illustrate key issues such as competition, cooperation, corporate culture, shareholder value, employee motivation, community relations, public relations, labor relations, lobbying and political influence, and corporate governance, leadership, information management, finance, retail, and manufacturing operations, environmental impact, globalization, corporate philantropy, and business ethics.
Offered annually.
Fulfills: BI

BST 115 - Formerly BUS 15 - Fundamentals of Financial Accounting (4)

This introductory course exposes students to the accounting principles and practices used by decision-makers associated with a business or governmental entity. Major topics include the accounting cycle, preparation and analysis of financial statements, standards and procedures for assets and liabilities, and the roles of corporate communication and responsibilities with respect to the accounting process.
Prerequisite: Sophomore or higher standing. Offered every semester.

BST 310 - Formerly BUS 101 - Management (4)

This course explores theories and practices in the fields of management and organizational behavior. The course will explore how businesses, the government, and non-profit groups are organized, and why. The course will also examine the behavior of firms concerning issues of governance. Examining the relationship between strategy, market structure and the corporate environment, the course will enhance the knowledge of students of how managers function in both the domestic and global business environments.
Prerequisite: ECON 301 - Formerly 102 - or permission of instructor. Offered every semester.
Fulfills: WM

BST 321 - Formerly BUS 120 - Corporate Finance (4)

A study of selected problems and issues in the field of finance. Topics include the use of financial statements, ratio analysis and the valuation of assets, especially derivatives (e.g., futures and options).
Prerequisite: ECON 301 - Formerly 102 - . Offered annually. Same as: ECON 321 - Formerly 120 -

BST 400 - Formerly BUS 150 - Business Studies Capstone (2)

The capstone is designed to pull together and enhance work that business studies majors have done in prior courses; students present their research to each other and faculty members throughout the term. Expanded research paper and oral presentation required.
Seniors Only. Offered every semester.

See appropriate departments for the following courses

BSC 111 - Formerly 10 - Corporations in Context (4)

This course examines the institution of the for-profit business corporation in its economic, legal, political, and social contexts. The course will develop critical perspectives on the corporation and use case studies to illustrate key issues such as competition, cooperation, corporate culture, shareholder value, employee motivation, community relations, public relations, labor relations, lobbying and political influence, and corporate governance, leadership, information management, finance, retail and manufacturing operations, environmental impact, globalization, corporate philanthropy, and business ethics.
Offered annually.
Fulfills: BI

ECON 101 - Formerly 5 - Economic Principles: Microeconomics (4)

An introduction to basic microeconomic analysis and institutions, with special emphasis on the roles markets play in an economy and the ways in which government can alter market activity. Includes such topics as consumer and firm behavior, competition and monopoly, poverty and justice, the environment, health care, and international trade.
Offered every semester.
Fulfills: BSS

ECON 102 - Formerly 6 - Economic Principles: Macroeconomics (4)

An introduction to basic macroeconomic analysis with special emphasis on problems of unemployment, inflation, and economic growth. Topics include national income determination; money, financial markets, and monetary policy; fiscal policy and the economic role of government; the United States and the world economy.
Offered every semester.
Fulfills: BSS

ECON 238 - Formerly 38 - Economics of Labor and Trade Unions (4)

An analysis of labor markets, including determination of wage levels, compensation and working conditions, the impact of international trade and foreign investment, investment in human capital, differential wages, labor migration and unions, strikes and collective bargaining. Examines current issues facing employees and unions.
Prerequisite: ECON 101 - Formerly 5 - Offered spring semester.

ECON 241 - Formerly 41 - Global Economy (4)

An examination of the global economy focusing on economic geography, international trade in primary commodities, manufactures and services, foreign investment and transnational corporations, and the impact of regional economic blocs (such as the North American Free Trade Area) and treaties (such as the General Agreement on Trade and Tariffs). The course covers theory and institutions of international economic activity and current issues of economic globalization.
Prerequisite: ECON 101 - Formerly 5 - or permission of instructor Offered alternate years.

ECON 242 - Formerly 42 - International Business (4)

An introduction to international business and economics for students who are interested in applying their skills as an economist to the business world. Examines the decision-making process confronting businesses operating on an international level. Explores international trade and investment along with economic development as related to business. Also focuses on international agencies (government and private) that affect international business along with the international monetary systems within which business operates.
Prerequisite: ECON 101 - Formerly 5 - and 6 or permission of instructor Offered alternate years.

ECON 247 - Formerly 47 - Economics of Business and Sustainability (4)

This course considers the environmental challenges facing business. It will examine business responses to environmental regulation, competitive advantages of "green" business, consumer demand for green products, product life cycle analysis, industrial ecology, environmental partnerships between business and non-governmental organizations, natural capitalism, and business education. Environmental decision-making of both large corporations and small businesses will be included in the course. The course will include case studies, outside speakers from the business community and student presentations.
Prerequisite: ECON 101 - Formerly 5 - Offered alternate years.

ECON 281 - Formerly 49 - Wall Street and the Economy (4)

The operations and institutions of financial markets; their role in financing new investments, pensions, etc. ; their impact on local, national, and global economies. The economic history and ethical dimensions of Wall Street and its relation to macroeconomic policy.
Signature of instructor required for registration. Prerequisite: ECON 101 - Formerly 5 - and 6 and acceptance into the Wall Street Semester Offered spring semester.

ECON 282 - Formerly 50 - Colloquium on Wall Street: Practical Realities and Recent Issues (4)

The practical day-to-day operations of the financial markets and institutions located in New York City. Talks by guest speakers drawn from the finance industry itself, as well as from corporations, government regulatory agencies, and institutional investors, shareholder activists, academics and others. Field trips to New York City to stock brokerages, the New York Stock Exchange, the Securities and Exchange Commission, and various commodity exchanges. Speakers, field trips, and student projects explore recent issues, such as the impact of derivatives and other financial innovations. Students are required to keep a journal and make oral presentations about their experiences on Wall Street, including their meetings with prominent speakers from a wide variety of private and nonprofit institutions.
Signature of instructor required for registration. Prerequisite: ECON 101 - Formerly 5 - and 6 and acceptance into the Wall Street Semester

ECON 301 - Formerly 102 - Intermediate Microeconomic Theory (4)

A theoretical analysis of resource allocation in a market economy. Topics include the theory of consumer behavior, production, and costs; decision making under various market conditions; general equilibrium and welfare economics.
Student must earn a grade of C or better in this course to satisfy the major requirements. Recommended: MATH 2 or 7 or 8 or 16 Prerequisite: ECON 101 - Formerly 5 - or equivalent Every semester.
Fulfills: Q

ECON 302 - Formerly 103 - Intermediate Macroeconomic Analysis (4)

A study of the determinants of the level of income, employment, and prices as seen in competing theoretical frameworks. Includes an analysis of inflation and unemployment, their causes, costs, and policy options; the sources of instability in a market economy; debates on policy activism; prospects for the control of aggregate demand.
Student must earn a C or better in this course to satisfy the major requirements. Recommended: MATH 2 or 7 or 8 or 16 Prerequisite: ECON 102 - Formerly 6 - or equivalent. Every semester.

ECON 338 - Formerly 118 - Industrial Organization and Public Policy Toward Business (4)

An analysis of the present structure of industry in the United States, the theory of monopoly, oligopoly, and imperfect competition, and antitrust policy, i.e., government policies to preserve competition. Focuses on recent antitrust cases in the latter half of the course.
Prerequisite: ECON 101 - Formerly 5 - , 6, and 102. Offered alternate years.

ECON 320 - Formerly 119 - Money and Banking (4)

An introduction to the theory of money and banking. Special consideration is given to the structure and functioning of the commercial banking system and the effectiveness of monetary policy.
Prerequisite: ECON 302 - Formerly 103 - or equivalent. Offered annually.

ECON 315 - Formerly 136 - Political Economy of Race, Class, and Gender (4)

A study of race, class, and gender using the political economic approach to the study of economics. The course will investigate the impact of introducing the categories of race, class, and gender into political economic theory and will also undertake some empirical analyses of the roles of race, class, and gender in producing economic outcomes for minorities and majorities in the U.S.
Signature of instructor required for registration. Prerequisite: Sophomore or higher standing and one course in Economics. Offered alternate years.
Fulfills: WI, DUS

ENGL 215 - Formerly 65 - Writing For and About Business (4)

Concentrates on the development of a clear, precise writing style and practice in dealing with specific types of business writing problems. Students complete writing projects, individually and in teams, in the context of hypothetical business situations, such as preparing and presenting a report, preparing and presenting a project proposal, applying for a job, and reviewing a report or project proposal.
Prerequisite: Satisfaction of the College writing requirement Offered every semester.

HIST 319 - Formerly 108 - The History of Work in America (4)

This course discusses fundamental shifts in the nature of work in America from the 17th through the 20th centuries, alongside the social, cultural and political changes that invested work with different meanings over time. Topics covered include the origins of a slave labor system, the impact of the industrial revolution on both men and women's work, the evolving relationship between workers and the state, the development and impact of an organized labor movement, as well as the "new economy" in postwar America.
Recommended: Recommended HIST 1,2,15, or 16. Offered spring semester in odd-numbered years.
Fulfills: BH

HIST 318 - Formerly 124 - A History of Business in America (4)

A study of the role of business in American history, emphasizing the significance of the corporation and "big business. Focuses on the corporation between the Civil War and the First World War as the formative period in the development of modern business values, techniques, and institutions.
Offered fall semester in alternate years.

HUM 201 - Formerly 21 - Culture and Exchange (2)

This course introduces students to the idea of exchange as the basis for all human interaction by comparing ideas about and principles of exchange through different disciplinary lenses: exchange in the arts (patronage, sales, publication, criticism), economics (barter and money economics, credit), anthropology (gift-giving, marriage, ritual) and linguistics (language per se) are all possible avenues of investigation and comparison.
Offering to be determined.

MATH 117 - Formerly 3 - Introductory Statistics (4)

This course is designed to enable you to use statistics for data analysis and to understand the use of statistics in the media. The course makes use of SPSS, a widely-used statistics package for the computer. Course topics include graphical and tabular presentation of data, measures of central tendency, dispersion, and shape, linear transformations of data, correlation, regression, basic probability and the normal probability model, sampling, t-tests, and one-way analysis of variance.
Meets: 150 minutes weekly, with an additional weekly 50-minute recitation Offered every semester. Same as: MAT 861 - Formerly 861 -
Fulfills: Q

PAST 400 - Formerly PANAF 180 - Pan African Studies Seminar (4)

Using the classroom as a forum for the discussion of methods, theories, arguments, and data on Pan African topics, students produce a major research paper. The course seeks to facilitate learning among students through research and discussion. Faculty representing the several disciplines within the Pan African studies program and guest lecturers participate in class discussions.
Prerequisite: PAST 101 - Formerly PANAF 10 - and four additional courses satisfying the Pan African Studies Major or minor. Offered spring semester.
Fulfills: WM

REL 214 - Formerly 127 - Business Ethics (4)

A philosophical and theological study of those ethical, religious, and social issues that play an important role in thinking morally about economic and business practices. Attention is paid to practical ethical problems arising out of the functional areas of management and the wider areas of business and social responsibility in relation to the community, ecology, minorities, the role of multinationals and public safety.
Offered spring semester. Same as:

SOC 309 - Formerly 110 - Sociology of Mass Communications (4)

An overview of how the mass media and American cultural, political and economic institutions mutually affect each other. Systems of mass communication examined include books, the Internet, magazines, movies, newspapers, and television. Two topics to be emphasized are: 1) the production, control, and consumption of various forms of information in the mass media; 2) comparative analyses of the uses of mass media in different countries.
Prerequisite: SOC 101 - Formerly 1 - or permission of instructor Offered fall semester. Same as:

SOC 317 - Formerly 117 - The Sociology of Management (4)

A presentation of the main themes involved in the management of corporations and other business organizations. The themes examined are communication, decision making, innovation, leadership, strategy, and politics.
Prerequisite: SOC 101 - Formerly 1 - or permission of instructor Offered annually.

SPAN 379 - Formerly 125 - Doing Business in the Hispanic World (4)

This course is designed to give students of Spanish a foundation in business vocabulary, basic business and cultural concepts as well as an in-depth reflection of what it means to do business in a variety of culturally diverse Hispanic countries. This perspective is conducted through literary readings, contemporary and historical comparisons, mass media analysis, and linguistic descriptions of products or brand names.
Enrollment priority: Priority to students who have already taken a course in the advanced language sequence and are considering a minor in Business, Society, and Culture or major in Economics and to students in the Latin American Studies program. Offered spring semester in even numbered years. Same as:

THEA 271 - Formerly 64 - Show: Business (2)

A dramatic literature seminar exploring how modern theatre looks at ways of doing business, from Naturalism (Hauptman's The Weavers) through Expressionism (Treadwell's Machinal), Epic theatre (Brecht's Mother Courage) and Realism (Ibsen's An Enemy of the People). The intersection of race, gender and economy will be examined in works ranging from Shaw's Major Barbara to Anna Deveare Smith's Twilight. Videos may include such work as The Cradle Will Rock, Death of a Salesman and Raisin in the Sun. Students will examine readings through written analysis and group discussion.
Signature of instructor required for registration.