Finance is a professional business major designed to prepare you for a career in various disciplines of finance. Finance consists of managing money, whether for individuals, institutions, organizations or other areas. Majoring in finance will lead you to learn about how money works, and about financial instruments, stocks, bonds and the markets. This information will then allow you to determine important information and advice for institutions regarding the management of their finances. An understanding of financial concepts and practices along with the knowledge of the instruments and participants in financial markets is essential to sound decision-making.
Building a Foundation for a Career in Finance
Albion’s courses in finance provide an excellent foundation for those interested in financial planning, commercial banking, and investment banking, and for national certification examinations including the National Association of Securities Dealers Series 7 stockbroker’s license exam and the Chartered Financial Analyst exams. Our finance curriculum includes relevant aspects of economic theory that deepen student’s understanding of financial markets and financial management. Students often take additional course work in accounting and math to enhance their preparation for a career in finance.
Many of our majors find jobs in finance departments of firms, investment banks, consulting firms, commercial banks, credit unions, mutual funds, and other kinds of financial institutions; or in government or some kind of charitable organization.
Students manage an investment portfolio, buying and selling real stocks. Profits are used to fund a scholarship for E&M majors. Investment Club members take an annual trip to Chicago to meet Albion alumni working in finance.
Economics and Management Major
In Economics and Management: We Mean BUSINESS
The Albion College Economics and Management (E&M) Department provides students with business knowledge, skills, and experiences to succeed in college, a career, and in life. Economics and Management graduates are tomorrow’s business leaders.
We offer courses that will prepare students for careers in:
- International Business & Economics
- Human Resources
- General Business
Our majors are prepared to enter careers in the field of business upon graduation.
We address both the immediate application of problem-solving techniques and the conceptual basis for those techniques. Our curriculum includes more economic theory than is typical in undergraduate business programs, providing solid preparation for those who aspire to attend a selective M.B.A. program or to advance into jobs requiring strong analytical skills.
We also offer more courses related to business than is typical in undergraduate economics programs, making Albion College a top choice for students who want to experience a small liberal arts college environment while also improving their prospects for a good job in business immediately after graduation.
Additional information on the Economics and Management major can be found in this program flyer (PDF).
Economics and Management, Finance and Accounting students should consider an internship opportunity. Internships provide distinctive, practical learning experiences outside the classroom, which complements your education gained from your classes. Internships allow students to explore areas that interest them, gain practical experiences, and forge relationships that often times help them when it is time to search the job market after graduation. Many of our students get offers following their internships for right after graduation.
In today’s competitive job market, it is extremely important that our students obtain experience related to their career ambitions.
Employers will be asking you about your internships, part-time jobs, and summer jobs to assess your ability to perform in a full-time position. Companies are now using internships as one of the most common methods to select new employees.
Juniors and senior students have a variety of options available to them. Some choose to complete internships closer to home in and around Michigan. Others choose to complete an internship as part of a semester off-campus in a domestic program such as The Chicago Center, The Philadelphia Center, The Washington Center or the New York Arts Program, or overseas in places such as Australia, England, Ireland, France and Germany. Your options are many.
Albion College can help you with this process. See your Economics and Management academic advisor or visit the Career and Internship Center.
Albion's accounting program includes every course needed to be eligible for the Certified Public Accountant (CPA) exam. Our accounting students develop strong analytical skills, preparing them not only for their first job after graduation, but also for advancement into increasingly responsible positions in the field. As a result, many of the nation’s top accounting firms recruit at Albion College.
The accounting faculty encourages you to pursue internships where you take on full professional responsibilities as if you were in a job. Lots of training and support ensure your success. Albion college accounting students are recruited by the nation’s top accounting firms along with small private companies in Michigan.
Work and learn side by side with professors who are CPAs with real world experiences.
Professor Bedient has the professional accounting and auditing experience to help students perform well in that environment. He managed a small town daily newspaper for 10 years. That experience helps him show students the value of an accounting education as applied in business. Professor Bedient’s courses his focus is on using accounting to solve business problems. He uses audio and visual technology so that his help and advice are available from computers and mobile devices.
Professor Carlson worked in public accounting, manufacturing, and not-for-profit industries for 25 years before coming to academics and brings those experiences into the classroom. In Professor Carlson’s courses, he creates “real-world” accounting and tax projects using Excel or tax software for his classes. He is actively involved as an advisor with various national student accounting competitions and enjoys the opportunity to work with students on their business research projects.
American Institute of CPAs
AICPA competition Albion students work as a team, tackling current topics, using their critical thinking, research, writing, and presentation skills. Albion was selected to present in Washington, D.C., and won second place in the nation. Accounting Society- banquet, field trips.
Volunteer Income Tax Assistance
VITA tax program Albion College student volunteers are trained by E&M accounting faculty to prepare income tax returns for low-income residents of the city of Albion and nearby communities. Students prepare about 200 returns each year—helping the community and gaining valuable experience working on actual tax returns.
Michael Davis Jr. '13
Major: Economics and Management with emphasis in Economics
Current: Pursuing a Masters in Urban Planning at the University of Michigan
What I like most about Albion?
It is a place where you can connect with students who share your intellectual curiosities. Albion has given me a wide range of knowledge and has really allowed me to shape my education in ways that are truly mine. I was able to be a member of Albion's Fed Challenge teams in 2011, '12, and '13. Our 2011 team went to Nationals in Washington D.C. and went up against teams from Harvard, Rutgers and North Carolina-Chapel Hill. The highlight of this final round of competition was the opportunity to meet several leaders of the Fed including Ben Bernanke, the former Federal Reserve chairman. I was a teaching assistant in E&M for economics, past president of the Macroeconomics Club, and worked closely with the department’s staff and faculty to create a new marketing brochure for future students.
How did Albion help you get there?
I appreciated the careful feedback faculty provided on research projects and papers. The personal relationships that were created with the faculty were incredible.
For me, Albion…
…has provided good networking opportunities for finding a career.
Peter Curry, '14
Major: Economics and Management with an emphasis in Accounting, Gerstacker Institute Concentration
Residence: Midland, MI
Career: Ernst and Young: Financial Accounting Advisory Services (FAAS Forward)
In a nutshell, what do you do?
I contribute to Ernst and Young's Assurance brand while working in their FAAS Forward program. In this program, I provide audit assurance, but I also provide client services in the Financial Accounting Advisory Group. In this service line, I work with clients to solve issues relating to transaction advisory and financial reporting. In general, this program grants me the base experience of auditing while also exposing me to more complex business and accounting issues. Overall, I contribute to an opinion on the fairness of financial statements, provide due-diligence on transactional needs, and advise clients on reporting requirements.
Why do you love what you do?
I look forward to the challenge. Each day, I work on different teams, clients, and tasks. I will provide a wide range of services to numerous clients and industries, and I am excited to grow and adapt to those opportunities. In many ways, this rotational program continues the diverse education that I received at Albion. I will learn new skills from my teams and apply those skills to a wide range of client needs.
How did Albion help you get there?
Albion enabled me to pursue my divergent interests, namely in English, history, and business. At Albion, I took courses like pax Britannica, contemporary literature, and even several pottery courses. I also completed the required coursework for the Certified Public Accounting license. This was crucial as I began college without a clear focus of what I wanted to do after school, but while at Albion, I had the flexibility to pursue my interests and discover a career.
For me, Albion…
…is a community. The connections that I have made with my peers, professors, and alumni have become valuable both inside and outside the classroom, and I am excited to see how this community will continue to grow beyond graduation.
Richard Atkins, '14
Major: Economics and Management (emphasis in Accounting)
Internships: Atlas Oil Credit
Activities: While at Albion I was involved in the Volunteer Income Tax Assistance (VITA) program, Sup de V International Exchange program, Delta Sigma Phi Fraternity, Albion College Ski and Snowboard Club, Greek Week Planning Community, and a member of Albion’s Tennis Team for four years.
Current: Pursuing a Master of Accounting degree, Stephen M. Ross School of Business, University of Michigan.
What did you like most about Albion College?
My favorite part of Albion was the close-knit community. A small student body allowed me to make many connections and friendships with both students and faculty that I would not have if I had attended a larger school. Making these connections helped me grow both academically and personally. I will always remember the people I met at Albion and appreciate how they expanded my outlook and helped me to grow into the person I am today.
How did Albion help you to get where you want to be?
I first became interested in accounting after my managerial accounting course with Professor Gaylord Smith. I only found my interest in accounting after taking some required courses for the finance major. Albion also provided me with many opportunities to grow my business background through programs like the VITA tax preparation program and the Sup De V international exchange program. Albion’s professors proved to be great resources for both career counseling as well as help understanding coursework outside the classroom.
For me, Albion…
…was a place to grow, learn, and make lifelong friends. It provided challenges in the classroom that required us to push ourselves, but also provided help along the way. The diverse courses required as a part of the liberal arts education gave us an opportunity to broaden our outlook, but it may also help you find the major you never thought you wanted.
Paul Stewart '16
Paul is an Economics and Management major with an emphasis in Accounting and a minor in Business and Organizations. On his first visit to campus, Paul took a liking to the small class sizes and the programs offered in the economics and management department.
In the hopes of working in public accounting, Paul participated in a summer leadership program the summer of 2014, and was offered an internship at PricewaterhouseCoopers.
Currently serving as General Manager for Albion College’s own WLBN Radio, Paul has restarted the radio station and built several connections between Albion's station and other college stations. In January of this year Paul became an Federal Communications Commission (F.C.C.) licensed amateur radio operator and now serves his community as a storm spotter for the National Weather Service and emergency communications responder for the Amateur Radio Emergency Service (A.R.E.S.).
Trent Mikek '15
Trent is an accounting-C.P.A. emphasis major. He has interned at Thomson Reuters in Ann Arbor and will be interning at Ernst & Young in Detroit this summer. He was awarded the Scott Cracraft Scholarship in accounting; he is a member of the Delta Sigma Phi business fraternity, and Sigma Nu fraternity.
“Albion is great because you know so many of the students and feel right at home but can always meet new people. Albion has given me the knowledge and experience I will use in my career in accounting and also in life.”
Trent was a tax preparer for the Volunteer Income Tax Assistance Program (VITA) and is a member of the Accounting Society. He has had lots of classes with the two accounting professors: John Bedient and John Carlson. Both have been extremely helpful and it is easy to stop by their offices for a chat and to catch up on Albion life.
“I love the atmosphere at Albion, both in and out of the classroom.”
Paxton Mueller '15
Paxton is a double major in Economics and Management and Mathematics. She is a math tutor through the Quantative Skills Center, president of Omicron Delta Epsilon honor society in economics, a member of Mortar Board, and an Albion College Fellow. She is interning at Ernst & Young in Advisory Services in Detroit.
Paxton has also enjoyed sports, actively playing two years of varsity volleyball. One of her favorite things about Albion College is that all of her professors know her name and are always looking to help her succeed.
Kathleen Petchell, '13
Major: Economics and Management (emphasis in Accounting, Gerstacker concentration)
Internships: Product Support Intern, Thomson Reuters; Barn Management Intern, Nottawa Paint Horses, LLC
Activities: Equestrian Club, Western Equestrian Team, Tour Guide, Alpha Delta Lambda, Omicron Delta Epsilon, Mortar Board
Current: Pursuing Master of Accounting degree, Stephen M. Ross School of Business, University of Michigan
What did you like most about Albion College?
I really enjoyed how personal my education was at Albion. My professors all knew me as a student and as a person, which was really beneficial as they helped me to create my résumé, search for internships, select courses and make decisions about my future. When I first came to visit Albion as a high school student, my tour guide told me Albion offered its students tons of great opportunities, and after graduating last year, I can say confidently that her statement is true.
How did Albion help you get to where you want to be?
Without the guidance of my professors, the wonderful ladies in the Gerstacker and Econ offices, and my advisor, Vicki Baker, I don’t know that I’d be on the path I am. When I came to Albion, I had no clue what I wanted to do, but Gaylord Smith inspired me to pursue accounting my very first semester at Albion. With a little help from the faculty, I am now on track for the CPA exam and attending U of M for my Master’s of Accounting.
One specific instance that proved to me how much Albion works to help its students was when I was visiting U of M after being accepted into their Business School. One of the current students was telling me all of the great things they do for their graduate students, such as having recruiters on campus, résumé reviews, etc., and it made me laugh because Albion had exposed me to all of those resources my freshman year!
For me, Albion ...
… was one of the best choices I have ever made. I’ve been able to pursue a promising career while also maintaining my passion for horses, and I have created friendships that will last a lifetime.