Albion College Students Win Regional 'Fed Challenge' Competition
Demonstrating their understanding of the workings of the Federal Reserve, a team of Albion economics and management students recently won the Chicago District College Fed Challenge. The group now heads for the Fed Challenge national finals, November 29 in Washington, D.C., in which it will face the other regional finalists from Harvard University; Rutgers, the State University of New Jersey; Lafayette College; and the University of North Carolina at Chapel Hill.
Read more: Albion College Students Win Regional Fed Challenge Competition
International Students Interested in Economics and Management (Simplified Chinese)
FASB Executives Shed Light on Accounting Standards for All
Southern Michigan professionals joined Albion students, faculty, and guests for a fascinating and frank panel discussion of accounting standards issues April 5 in the Science Complex atrium. Two former directors of the Financial Accounting Standards Board plus a current senior FASB adviser presented an open panel discussion as part of a three-day visiting program for Gerstacker Institute and accounting students.
Read more: FASB Executives Shed Light on Accounting Standards for All
International Student Profile: Chen Chen, '11 (Simplified Chinese)
Saltzman Featured in Recent News Stories on Labor
Albion College economics and management chair and professor Greg Saltzman has been used as a source in recent Dayton (Ohio) Daily News articles about state governments and public employee unions. His research interests include labor law, management-union relations, employee benefits, health services, and labor union political action.
Read more: Saltzman Featured in Recent News Stories on Labor
International Student Profile
Chen Chen, '11
Chen graduated cum laude from Albion College in 2011 with a B.A. in economics and management.
Where are you from?
I am from Nanjing, China. I attended Nanjing Foreign Language School before coming to Albion College.
Why did you choose Albion?
I learned about Albion looking at U.S. News & World Report. I was impressed with the ranking, small size, personal attention, and research opportunities. I also liked the generous scholarships available for international students.
What is your favorite thing about Albion?
The professors! They helped me find my passion in life and were able to connect me to my future job. One of my favorite professors retired recently but I still stay in touch with him regularly.
What is your academic major?
Economics and management with an accounting focus. I am also pursuing physics as a minor.
What extracurricular activities are you involved in?
The Albion College Accounting Society. Every year, I volunteer to fill out people’s income taxes. I also help plan activities with the Chinese Student Union but mostly I am busy with undergraduate research (FURSCA).
What will you do after you graduate?
I will graduate this year and I already have a job lined up with Ernst and Young. I will be an auditor.
How much will your salary be per year?
Right now, my starting salary is $50,000 a year.
Why do you want to work in the United States?
I want to use my U.S. diploma to gain experience here so that within 10 years I can go back and work in China. By doing this, I can start at a higher level of income in China
International Students Interested in Economics and Management
Albion College welcomes international students, and a growing number of our students come from outside the United States.
Why Study Economics and Management at Albion College?
Albion's program in Economics and Management provides a pathway to a productive career in business, government, or nonprofit organizations. Our majors have had considerable success in getting good jobs after graduation or in gaining admission to selective graduate or professional programs. This success makes an Economics and Management degree from Albion College a good investment in your future.
Albion College provides a safe, supportive environment for academically talented international students who want to learn about America. Experience living and studying in America is especially valuable for those seeking careers in business or government because of the economic importance of the U.S. Having international students at Albion also enhances the educational experience of our American students.
International Interests of Economics and Management Faculty
Several faculty members in Albion College's Economics and Management Department have international interests:
Vicki Baker teaches E&M 362, International Management. She has supervised a management project conducted by a joint team of students from Albion College and from ESCIA, a business school in France. She visited France and Greece in spring 2011 in an effort to secure international project opportunities for Albion College students.
Dan Christiansen received a Fulbright grant from the U.S. State Department to teach mathematical finance at the Norwegian University of Science and Technology.
Zhen Li received her B.A. degree at Peking University before obtaining her Ph.D. from Princeton University. She teaches E&M 363, The Chinese Economy; E&M 365, International Finance; and E&M 366, International Trade. She has done research on equity market liberalization in developing countries. She is a native speaker of Mandarin.
Greg Saltzman studied for a year at the London School of Economics and was a visiting fellow at the University of Warwick. He received a Fulbright grant from the U.S. State Department to teach labor relations at Jilin University in China. He wrote one journal article comparing the health insurance systems in the U.S. and Canada and another journal article analyzing public opinion about labor disputes in the U.S., Canada, Norway, and Sweden.
Albion's Economics and Management Curriculum
Albion College offers a four-year Bachelor of Arts degree program in many different fields, including economics and management. We do not offer a master’s in business administration (MBA) or a master’s or doctoral degree in economics.
Economics and Management is the most popular major at Albion College. We offer small classes and good teachers. Our courses address both the immediate application of problem-solving techniques and the conceptual basis for those techniques. This conceptual knowledge prepares students for eventual advancement into senior positions.
Our curriculum prepares students to analyze, decide, and lead in business, government, or nonprofit organizations. Areas of emphasis within the Economics and Management Department include accounting, economics, finance, general business, human resources, and international business and international economics. We offer all of the courses needed to be eligible to take the CPA exam. Many of our students participate in Albion's Gerstacker Institute for Business and Management.
More information about the Economics and Management Department is available in our brochure.
Admission, Costs, and General Information
Admission decisions are made at the College level, rather than the Departmental level. The Albion College Web site has information about international admissions. We are academically selective, drawing mainly from the top quarter of high school graduates.
The Albion Web site also has information about financial aid for international students as well as costs. Academically strong international students can receive generous scholarships of up to 50 percent of the cost of tuition, room, and board. Nevertheless, international students should be aware that college or university education is much more expensive in the U.S. than it is in many other countries.
Albion College is located in Michigan, a state in the northern U.S. Our campus is in the City of Albion, a small town about 150 km west of Detroit and 300 km east of Chicago. Albion College is about an hour's drive from two very large universities with many international students: the University of Michigan and Michigan State University.
Jobs of E&M Graduates
Employers Hiring Albion College Economics and Management Graduates
Albion's E&M students have had considerable success getting good jobs after graduation. The list below shows some of the employers who have hired our graduating majors in the last few years.
Americorp - Urban Safety Project
Andrew Hooper Pavlik
Bella Design Group
Century Bank and Trust
Financial Analyst, Accounting Internships
Ernst and Young
Staff auditor, Accountant, Analytics
Market Risk Analyst
Grant, Millman, Johnson. P.C.
Hi-Lex Controls Inc.
Hudsonville Ice Cream
Special Events Marketing
Independent Opportunities of Michigan
Support Coordinator Assistant
Level One Bank
Mercedez-Benz Financial Services
Motts Children's Hospital
New York Life
Quantitative Analyst, Internships
Northwestern Mutual Financial Network
Plante & Moran
Staff Auditor, Accountant
Staff auditor, Accountant, Assurance
RBC Capital Markets
Tax Department, Accountant
Robert W. Baird & Co.
Universal Forest Produccts
University of Michigan
Program Coordinator Math Department
Graduate and Professional School
Below is a list of graduate and professional programs recently attended by Albion College Economics and Management graduates.
Schools and Degrees:
Washington College of Law - J.D.
Master's in sustainable international development
Juris Doctorate (J.D.)
Imperial College, London
Master's in management
Johns Hopkins University
Master's in marketing and market research
London School of Economics
Master's in economic history
Master's in social justice
Michigan State University
Master's in human resources and labor relations
College of Law - J.D.
Master's in mathematical statistics
University of Chicago
University of Detroit
University of Illinois at Urbana-Champaign
Master's in sports management
University of London
MSc in development studies at School of Oriental and African Studies
University of Michigan
Master's in information management
Master's in accountancy
Master's in urban planning
Master's in public health
Master's in public policy
University of Minnesota
Master's in human resources
Master's in industrial relations
University of Notre Dame
Master's in accountancy
University of Pennsylvania
M.S. in higher education administration
University of Toledo
Master's in music performance
University of Virginia
Master's in accountancy
University of Wisconsin at Madison
Wayne State University
Scholarships and Awards
For Economics and Management Majors
Robert B. Hetler/PriceWaterhouseCoopers Accounting Scholarships
The recipient will be an Economics and Management major interested in pursuing a career in public accounting. The student must have at least a 3.2 grade point average in Economics and Management and a 3.0 GPA overall. The student must display leadership and service on campus and/or in community activities. Preference will be given to multicultural students. Applicants apply in the spring as a sophomore or junior for their junior or senior year. The scholarship will be used to offset tuition for the following semester and/or room and board.
Tim Cash/Ernst & Young Public Accounting Scholarships
The recipient will be an Economics and Management major of junior standing. Applicants apply in the spring as a sophomore for their junior year. The scholarship will be used to offset the tuition for the following semester and/or room and board.
Gaylord Smith Award for Scholarship in Accounting
The recipient will be and Economics and Management major with an accounting focus. The recipeint(s) of the scholarship shall maintain a minimum GPA of 3.2 on a 4 point scale. In addition the recipient(s) must be involved or have been involved in community outreach and volunteerism during their time at Albion College.
E. Scott Cracraft Scholarship for Excellence in Accounting
The recipient will be an Economics and Management major with Accounting Emphasis (enough to sit for CPA exam upon graduation). The student must have a minimum major grade point average of 3.2 with a cumulative of 3.0 overall at the end of the junior year. Applicants apply in the spring as a junior for their senior year. The scholarship will be used to offset the tuition for the following semester and/or room and board.
Outstanding Economics and Management Major Award and Delta Sigma Pi Scholarship Key
These are given to the graduating senior in Economics and Management with the highest grade point average.
Maurice L. Branch Award
The award recognizes research or scholarship by a graduating senior in Economics and Management.
E. Maynard Aris Award
The award honors excellent academic performance by a graduating senior in Economics and Management.
Walter A. Terpenning Award
The award recognizes scholarship and service by a graduating senior in Economics and Management.
Areas of Emphasis
Department of Economics and Management
We offer courses in major fields of economics (microeconomics, macroeconomics, international economics, monetary and financial economics, environmental economics, labor economics, and governmental economics). The E&M major with emphasis in economics is suitable for those interested in public policy work, while the combined major in mathematics and economics prepares students for graduate school in economics or for careers as actuaries or operations researchers.
Students who complete the E&M major with emphasis in general business receive a broad undergraduate education that will prepare them for careers in which rapidly changing
technology and market conditions require an ability to adapt and learn. These students take courses in financial accounting, managerial cost accounting, managing people and organizations, marketing, financial management, economics, and statistics, as well as at least one management elective.
E&M and Albion's Psychological Science Department each offer courses for students who wish to learn about the human relations aspects of management. E&M courses include managing people and organizations; women in business and leadership; labor law, unions, and management; labor economics; human resource management; management; and negotiation and dispute resolution. Relevant psychology courses include industrial and organizational psychology and social psychology.
International Business and International Economics
The E&M major with emphasis in international business and international economics provides a focused group of courses designed to prepare students for a world in which global concerns are becoming more important because of falling transportation and communication costs and falling governmental barriers to international trade and investment. Students select from relevant courses in E&M, such as International Management, The Chinese Economy, The Japanese Economy, International Finance, and International Trade. They also take at least one international course outside of E&M and complete an off-campus study program in a foreign country or an internship in a foreign country.
Economics and Management
Every fall, the Accounting Society co-hosts a career fair, at which students can meet representatives of firms interested in hiring Albion graduates or interns for jobs in public or corporate accounting. This group arranges student trips to visit businesses and CPA firms, sponsors professional workshops and speakers, facilitates information-sharing among students about academic and career planning, and provides professional networking opportunities at an annual spring banquet attended by many alumni.
Delta Sigma Pi
Albion's chapter of this co-ed business fraternity does volunteer work and provides networking opportunities.
The Fed Challenge is a competition in macroeconomic policy sponsored by the Federal Reserve Bank system. Teams of undergraduates from many schools each deliver a 20-minute presentation analyzing the economy and financial markets and making a monetary policy recommendation. Then, each team defends its presentation during 15 minutes of questioning by the economics professors who serve as judges. In November 2011, the Albion team won the regional competition in Chicago, surpassing teams from larger schools such as the University of Chicago, the University of Michigan, and the University of Wisconsin-Madison and headed to Washington D.C. for the National competition.
Economics and Managment Investment Club
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.
Omicron Delta Epsilon
This honorary organization recognizes scholastic attainment and outstanding achievements in economics.
Volunteer Income Tax Assistance (VITA) 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 over 200 returns each year—helping the community and gaining valuable experience working on actual tax returns.
Recent Economics and Management Alumni
Sumedha Makker, '11
Sumedha completed the economics and management major with emphasis in accounting and the Gerstacker Institute concentration. She worked as a research assistant to E&M professor Vicki Baker and co-presented their results at a national conference in San Diego. Sumedha had an internship with Ernst & Young in auditing and with Dow Corning in corporate accounting. After graduation, she pursued her CPA license while working for Ernst & Young.
Ryan Arey, '11
Ryan, a management minor, notes, "Albion College helped me obtain two great internship placements." Her first internship involved event/wedding planning and marketing at a large hotel in Philadelphia, and the second, in Albion College's Institutional Advancement Office, focused on using social media to reach out to younger alumni. One year after graduating from Albion, Ryan obtained her master's degree in higher education administration from the University of Pennsylvania.
Sean Thornton, '10
Sean majored in economics and management and also participated in Albion's Prentiss M. Brown Honors Program. His senior honors thesis focused on the modern music industry. "I wrote, arranged, recorded, and marketed a musical album via the Internet, gaining a fan base that stretched over 12 countries." In the process, Sean learned about entrepreneurship, sales, and networking. He is now working as a global manager for HelmsBriscoe in the hospitality industry.
David Manger, '08
David majored in economics and management and completed the Gerstacker Institute concentration. While an undergraduate, David served as a student representative on the Investment Committee of the Albion College Board of Trustees. After graduation, he worked as an equity analyst for Morningstar, providing research opinions on individual stocks. Now an analyst at AMI Investment Management, David is a Level III candidate in the Chartered Financial Analyst Program.
Emily McLaughlin, '11
Emily majored in economics and management and psychology. Active with the Investment Club, she interned with NorthPointe Capital, a domestic-equity money management firm. After graduating with Phi Beta Kappa honors, Emily now works as an associate analyst at the New York investment firm Stifel Nicolaus, where she provides research coverage of energy stocks. She is a Level II candidate in the Chartered Financial Analyst Program.
Thomas Worden, '12
Thomas participated in 2012 Commencement and in December will complete his economics and management major with an emphasis in finance. He interned at Lawrence, Evans & Co., an investment bank. A participant in the Macroeconomics Club, he also was captain of Albion's Fed Challenge team that won the Midwest regional competition and advanced to the national finals in Washington, D.C., where the group presented to Federal Reserve economists.