2017-2018 Academic Catalog [ARCHIVED CATALOG]
Business Administration, Accounting, and Economics
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Susan L. Meyeraan, Chair; Allan Bernard; Justin D. Crouse; Kimberly K. Folkers; Tamrat W. Gashaw; Eric Sommermeyer
Vision:
The department of Business Administration, Accounting, and Economics is committed to developing socially responsible business leaders grounded in the liberal arts tradition who make a positive impact in the world.
Mission:
We challenge and inspire engaged learners to become business stewards who positively impact the world.
Program Goals:
Students graduating from the Business Administration, Accounting, and Economics department will:
- know themselves, their values, and their passions;
- see the purpose of business leaders as economic stewards for the good of society;
- respect and effectively collaborate with people of diverse backgrounds and perspectives;
- apply the skills of professionalism in an increasingly complex world;
- engage in the creative process in a variety of contexts;
- gather and analyze information from a variety of perspectives;
- evaluate and solve challenging problems;
- communicate effectively in a variety of settings;
- understand and apply disciplinary knowledge;
Intended Student Learning Outcomes
Accounting Major
Students will:
- analyze a real-world scenario to identify key issues and recommend action.
- apply quantitative skills to solve business problems.
- apply ethics and professional standards to accounting and auditing problems.
- formulate and communicate, using appropriate technology, a well-organized argument supported by evidence.
- prepare the financial statements of a business entity.
- prepare a federal tax return for a taxpayer.
Business Administration Major
Students will:
- analyze a real-world scenario to identify key issues and recommend action.
- apply quantitative skills to solve business problems.
- apply values and ethics to organizational problems.
- formulate and communicate, using appropriate technology, a well-organized argument supported by evidence.
- complete a business related task/project while participating in a team based environment.
Additional Intended Student Learning Outcomes By Concentration
Students will:
- design and build a financial model in Excel (Finance concentration)
- gather, analyze and draw conclusions from international business-related data (International Business concentration)
- explain and apply a consumer-centered approach to a marketing scenario (Marketing concentration)
- demonstrate knowledge of planning, organizing, leading and controlling in organizations (Management concentration)
- apply managerial or marketing skills to an internship in an athletic setting (Sport Management concentration)
Economics Major
Students will:
- analyze a real-world economic scenario to identify key issues and recommend action.
- apply quantitative skills to solve economic problems.
- formulate and communicate, using appropriate technology, a well-organized argument supported by evidence.
- demonstrate understanding of supply and demand, price elasticity, the determinants of supply and demand, and the effect of shifts in supply and demand.
- analyze and predict the impact of fiscal and monetary policy (use of deficits, changes in the money supply, etc.) on overall economic performance.
- identify and explain market structures: competition, oligopoly, and monopoly and their relation to social welfare.
- demonstrate understanding of the effect of international trade (external sector) on the basic macroeconomic model: exports, imports, trade balance/deficit/surplus, and exchange rates.
Department Overview:
The Business Administration, Accounting, and Economics Department houses three majors -
Accounting, B.A. ; Economics, B.A. ; and Business Administration, B.A. , which includes concentrations in Finance, Management, Marketing, International Business, and Sport Management. The Accounting program offers a 150-hour option for qualified Accounting majors. This option enables students interested in a career in public accounting to complete the 150 hours required by the accounting profession to sit for the CPA exam during their four years at Wartburg.
The department offers a Business Minor ; Accounting Minor ; and an Economics Minor . The Business Administration, Accounting, and Economics Department partners with other programs on campus to offer the Social Entrepreneurship Minor and the Management Information Systems Minor . Students are encouraged to combine their departmental work with other areas of study such as math, foreign language, psychology, communication arts, or political science.
Courses in the department provide an active learning environment that includes experiences like case studies, off-campus client projects, computer-based simulations, writing of business plans and a senior research paper, seminar-style classroom discussions, and the hands-on use of technology. Several May Term courses taught by department faculty feature off-campus travel - BA 436 Trends in Business Management and ID 304 China in Transition .
Another unique feature of the department is the longstanding BA 338 Portfolio Management course whose students oversee the investment decisions for an endowment fund valued at over $700,000. Student representatives from this course present a report at the annual Corporation Education Day event.
The majority of the students in the department gain hands-on experience outside of the classroom through internships, independent studies, Wartburg West, or study abroad. Additionally, four campus organizations affiliated with the department, Phi Beta Lambda, Wartburg Marketing Club, Net Impact, and Delta Mu Delta, provide opportunities for student leadership and service.
Programs
Economics Teaching
For additional information on teaching majors and endorsements, see Education Department listings.
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