Albion College Department of Economics and Management

Majors in Economics & Management

A Major in Economics & Management requires a minimum of eight (8) units in economics & management, including:

Required courses:

E&M 101 - Introduction to Economics
E&M 102 - The Economy and Financial Markets
E&M 211 - Financial Accounting
E&M 230 - Intermediate Microeconomics *
E&M 232 - Intermediate Macroeconomics *
and at least one course at the 300-level

* Please note that unless approved by the department in advance, E&M 230 and 232 must be taken at Albion College.

Required cognate areas:

MATH 125 Functions or its equivalent as demonstrated by proficiency
or MATH 141 Calculus.
One statistics course from MATH 210, 309, or E&M 235.

The eight units used to fulfill major requirements must be taken for a numerical grade. It is recommended that all courses taken in the department by majors be taken for a numerical grade except those offered only on a credit/no credit basis. Normally, students will enroll in E&M 101 in either the first or second semester and E&M 211 in either the second or third semester. E&M 211 is not open to first semester freshmen. E&M 230 and 232 should be taken in the second year along with those courses fulfilling the mathematics and statistics cognate requirements. It is recommended that students planning a major in Economics and Management enroll in MATH 125 or MATH 141 during their first year.

In addition, it is recommended that individuals interested in graduate study in business or management take Mathematics 141 and 143. Individuals contemplating graduate study in economics should complete the mathematics/economics major.

Because of increased globalization of the U.S. economy, all majors are encouraged to participate in approved off-campus study programs. For a list of approved programs, consult with the Off-Campus Programs Office.

Seniors may be required to participate in a senior assessment exercise.

In September 2009, Albion College approved five new variants of the Economics and Management major, designed for students wishing to have an intensive focus on one field within Economics and Management. These are called the E&M major with emphasis. Students who complete the requirements for the E&M major with emphasis will have this listed on their Albion College transcript. Currently, we offer five areas of emphasis:

Economics & Management Major with Emphasis:

1. Accounting
2. Economics
3. Finance
4. General Business
5. Human Resources

Students wishing to complete the E&M major with emphasis must complete a minimum of ten (10) courses in E&M, rather than the eight (8) required for the regular E&M major. Students must also complete five courses within the area of emphasis. A student may declare only one E&M major with emphasis, even if the student completes the requirements for more than one emphasis.

Economics & Management Major with Emphasis in Accounting:

E&M 212 Managerial Cost Accounting
E&M 311 Intermediate Accounting I
E&M 312 Intermediate Accounting II

Plus two units selected from the following:
E&M 341 Federal Income Taxation
E&M 342 Auditing
E&M 348 Financial Management
E&M 383 Accounting Information Systems (0.5 units)
E&M 384 Governmental and Not-for-Profit Accounting (0.5 units)
E&M 385 Advanced Taxation (0.5 units)

Economics & Management Major with Emphasis in Economics:

E&M 273 Environmental and Natural Resource Economics
E&M 322 Issues in Modern Political Economy
E&M 323 Government Economics and Policy
E&M 326 Economic History
E&M 331 Money and Banking
E&M 354 Labor Economics
E&M 364 The Japanese Economy
E&M 365 International Finance
E&M 366 International Trade
E&M 368 Financial Markets
E&M 375 Health Economics
E&M 379 Econometrics
E&M 380 Mathematical Economics

Economics and Management Major with Emphasis in Finance:

E&M 348 Financial Management
E&M 368 Financial Markets

Plus three units from the following, including at least one of E&M 311 or 312:
E&M 311 Intermediate Accounting I
E&M 312 Intermediate Accounting II
E&M 331 Money and Banking
E&M 344 Portfolio Theory
E&M 365 International Finance

Economics and Management Major with Emphasis in General Business:

E&M 212 Managerial Cost Accounting
E&M 259 Managing People and Organizations
E&M 336 Marketing Principles and Decision Making
E&M 348 Financial Management

Plus one unit selected from the following list:
E&M 350 Business Law
E&M 355 Human Resource Management
E&M 376 Negotiation and Dispute Resolution
E&M 382 Strategic Management

Economics and Management Major with Emphasis in Human Resources:

E&M 259 Managing People and Organizations
E&M 354 Labor Economics
E&M 355 Human Resource Management
PSYC 101 Introduction to Psychology

Plus one unit selected from the following:
E&M 305 Women in Business and Leadership
E&M 353 Labor Law, Unions, and Management
E&M Negotiation and Dispute Resolution
PSYC 246 Industrial and Organizational Psychology

Mathematics/Economics Major:

The interdepartmental major in mathematics/economics is intended for those students who wish to combine these two areas of study but do not want to limit their course work in other liberal arts areas by having to take all of the classes necessary for completion of the two majors. Students interested in economics can learn the mathematical approach to this discipline, while students interested in mathematics will learn the importance of mathematics as a theoretical and empirical tool for solving economic and business problems. Students with this interdepartmental major will be well prepared to enter a career in business consulting or to enroll in graduate programs in economics, business, operations research or applied mathematics.

Required courses:

E&M 101 - Introduction to Economics -or- E&M 101H - (Honors equivalent)
E&M 102 - The Economy and Financial Markets -or- E&M 102H - (Honors equivalent)
E&M 230H - Intermediate Microeconomics (Honors equivalent)
E&M 232 - Intermediate Macroeconomics
E&M 379 - Econometrics
E&M 380 - Mathematical Economics
MATH 141 - Calculus of a Single Variable I
MATH 143 - Calculus of a Single Variable II
MATH 236 - Linear Algebra
MATH 245 - Multivariate Calculus
MATH 309 - Mathematical Statistics

One course from the following:

MATH 326 - Operations Research
MATH 331 - Real Analysis
MATH 360 - Mathematical Modeling

Each department may waive one or more of its own courses for students with advanced high school preparation. All courses for the mathematics/economics major must be taken for a numerical grade. Mathematics/economics majors are expected to attend all colloquia of the Mathematics and Computer Science Department. This major is not intended to lead to secondary teacher certification; however, a student may combine this major with a certification major in mathematics. This major is not open to those who have a major in mathematics or economics.

Minors in Economics and Management