Economics/Finance

Bachelor of Science in Business Administration

The Economics and Finance majors at AIC provide a rigorous examination of the ways in which we use financial resources in our society.

Working closely with faculty, you’ll gain a comprehensive understanding of the theories of money and banking, business models, and financial markets, while also studying the ways in which these factors affect bank lending, insurance, consumer credit, and pension and retirement planning.

As a graduate of either major, you’ll have the skills and knowledge needed for a variety of advanced degree programs and careers, including:

  • State, federal, and local government
  • Private banking
  • Economic and market research firms
  • Scientific research and development
  • Consulting firms
  • Business
  • Accounting

Learning Outcomes for Economics/Finance

Skills and Competencies

Accreditation

American International College has received accreditation for its business programs through the International Assembly for Collegiate Business Education (IACBE) located at 11374 Strang Line Road in Lenexa, Kansas, USA. The business programs in the following degrees are accredited by the IACBE: Master of Business Administration; Master of Business Administration in Resort and Casino Management; Master of Science in Accounting and Taxation; and Bachelor of Science in Business Administration with Majors in Accounting, Economics/Finance, General Business, Healthcare Management, International Business, Management, Marketing, and Sports and Recreation Management. Telephone: 913.631.3009, Email: iacbe@iacbe.org, Website: http://iacbe.org.

IAOBE Accredited Member

The Economics/Finance major at AIC prepares students for rewarding careers in finance and banking. Learn to understand financial markets, institutions, and the interactive forces—both national and international—that make firms, capital markets, and households tick.

—Dr. John Rogers, PhD Professor of Economics and Finance

In the classroom. In the workforce.

What you’ll learn

What you’ll learn

You’ll gain a comprehensive understanding of the theories of money and banking, business models, and financial markets, while also studying the ways in which these factors affect bank lending, insurance, consumer credit, and pension and retirement planning.

Future studies

Future studies

As a graduate of either major, you’ll be prepared to work 
in a variety of financial settings, or pursue graduate-level studies.

Career opportunities

Career opportunities

You’ll be prepared to work in state, federal, and local governments, private financial institutions, economic and market research firms, scientific research and development, and consulting firms.

Major:

All Business students must take the following introductory business courses (Common Professional Component):

  • ACC1201: Principles of Accounting I, with laboratory
  • ACC1601: Principles of Accounting II
  • BUS1407: Business Communications
  • BUS3000: Business Law
  • ECO1401: Principles of Economics I (General Education Requirement)
  • ECO1402: Principles of Economics II (General Education Requirement)
  • FIN2003: Managerial Finance
  • IBS1400: Introduction to International Business
  • MAT1250: Finite Mathematics I
  • MAT1430: Foundations of Statistics
  • MGT1400: Principles of Management
  • MIS1210: Introduction to Management Information Systems
  • MIS1220: Applications of Microcomputers
  • MKT1450: Principles of Marketing I
  • MGT4800: Senior Policy Seminar

Plus:

  • ECO2210: Labor Economics
  • ECO3210: Macroeconomic Theory
  • ECO4200: Economics of Managerial Decisions
  • ECO4894: Directed Study Microeconomic Theory
  • Economics Elective
  • FIN3202: Investments
  • FIN3240: Money and Banking
  • FIN3800: Advanced Managerial Finance
  • FIN3840: Public Finance
  • Finance Elective
  • MAT1260: Finite Mathematics II
  • MAT2030: Statistical Analysis for Business Decisions
  • MGT2400: Organizational Behavior

Minor:

  • ECO1401: Principles of Economics I
  • ECO1402: Principles of Economics II
  • FIN2003: Managerial Finance

Choose two from the following courses:

  • ECO3810: Public Finance
  • ECO4200: Economics of Managerial Decisions
  • FIN3202: Investments
  • FIN3240: Money and Banking

and one from the following courses:

  • ECO2400: International Economics
  • ECO3320: Important Economists and Their Contributions
  • FIN3200: Principles of Insurance (also cross listed ECO2600)
  • FIN3800: Advanced Managerial Finance
  • FIN4010: Commercial Banking

 

 

Introductory Business Courses

Topics include: the basic structure, principles, and practices of accounting; the nature and classification of accounts; the accounting cycle and the preparation of financial statements for both service and merchandising enterprises; design of accounting systems, including special journals and subsidiary ledgers; and coverage of cash, receivables, inventories, deferrals, accruals, plant assets, intangible assets, and current liabilities. Lecture classes and laboratory sessions meet at least four times per week. Laboratory fee.

This course continues the study of basic concepts and principles, as well as accounting for the partnership and corporate forms of business organizations; coverage of plant assets, intangible assets, and current liabilities, long-term liabilities, investments financial statement analysis, and the Statement of Cash Flows. Lecture classes and laboratory sessions meet at least four times per week. Laboratory fee.

This course provides students with the tools and techniques to effectively communicate and present reports and ideas in the business environment. Included in the course is the proper construction of business reports, letters, memos and other communiques. Also included is the proper construction of a business presentation complete with visual aids (presentations tools such as PowerPoint). The course also provides the student with the use of information research techniques to find, analyze, and evaluate published business information and properly cite references. The student is given the opportunity to develop a recommendation to a business scenario and present it both in writing and orally.

This course introduces students to the fundamentals of law and the legal system as these apply to business transactions. Specific topics covered in the course are: contracts, agency, intellectual property rights, negotiable instruments, forms of business ownership, personal property, and real property.

This course is devoted to the study of the fundamental principles and processes of an economic system, with special emphasis on the coordination and control of the United States economy. Emphasis is on the macroeconomic approach.

This course examines individual decision making in various applied economic environments. Areas of application include international trade, market structures, labor markets, and various U. S. institutional environments, both public and private. Basic emphasis is on the microeconomic approach.

This course introduces the student to financial management, with emphasis on the identification and solution of the financial problems facing business enterprises. Basic financial analysis is examined in concert with management of working capital, management of long-term assets, cost of capital, and long-term financing. Basic modern quantitative analytic techniques are used to introduce students to improved forecasting and planning methods.

The course will explain business and management concepts from an international perspective. It will focus on the social, cultural, political, legal, and economic environments that influence international business operations. The course will look at international trade theories, the evolution of regional economic integration arrangements, foreign direct investment, governmental intervention in international trade, and the importance of foreign currency exchange market. Course work will include special research projects and/or case studies for class presentation and discussion.

This course presents numbers, linear equations, linear inequalities, matrix algebra with applications, linear programming, and the simplex method. The course is designed for business administration majors.

This course examines the various tools and techniques used in analyzing quantitative data; including descriptive statistics, probability and random variables, sampling design, theory of estimation and hypothesis testing for parameters of a single population, student ‘t’ and normal distributions. A year of high school algebra is recommended but not required. The course will make active use of technology by requiring the use of computer software.

This course offers an introduction to the principles of management and their application to business. The basic management concepts of planning, organizing, controlling, motivating, communicating, staffing, and leading provide the basis for understanding of the management profession and a basis upon which higher level management courses can build more specialized knowledge.

This meets the requirement as a writing intensive course in the major. This seminar is designed to provide the student with an opportunity to apply the wide array of knowledge gained through his/her academic program to various real world situations. The student’s knowledge application will be assessed through the analysis of complex business case problems.

This meets the requirement as a writing intensive course in the major. This course provides an introduction to information systems from a business point of view. Subjects to be covered include: terminology, a survey of hardware and software, introduction to systems analysis and design, as well as an overview of the college’s computer facilities.

This course is a survey of microcomputers as used in today’s environment. The student will become familiar with current trends and uses of microcomputers as well as hands-on exposure to spreadsheets, databases, word processors, and operating systems. Students will be required to develop applications in each of the software areas.

Marketing is a key activity that enables businesses and organizations to achieve their goals by satisfying the needs of others through mutually beneficial relationships. This course will provide students with an understanding of important marketing theory and practices, including: the marketing concept; the marketing environment; market segmentation, product positioning; product and brand strategies; pricing strategies, marketing communication strategies; distribution strategies; consumer and business buying behavior; and electronic marketing.

Major Courses

This course studies the economic principles of labor markets, and human resource economics. Issues concerning labor supply and demand, wage differentials, the role of education, investment in human capital, unemployment, discrimination, income inequality, and labor unions are discussed, with emphasis on application to the U. S. institutional framework.

This course allows the student an opportunity to develop a thorough understanding of the macroeconomy through an analysis of the effects of fiscal and monetary policy on aggregate output, interest rates, the price level, and inflation in the domestic economy and abroad. Special emphasis is placed on recent U. S. experience with inflation and unemployment, and several new proposals designed to counter cyclical behavior and stagnant growth in the mature U. S. economy.

The course introduces the student to the practice of economic reasoning in the solution of real world managerial decision problems. In addition to developing the theoretical and analytical tools of economic decision making, this course enables students to develop judgment skills required in the application of managerial economics. Emphasis is placed on the use and application of economic analysis in clarifying problems, in organizing and evaluating information, and in comparing alternative courses of action.

Selected readings chosen in accordance with the student’s interests.

The course presents the organization and functions of the securities markets, types of investments, investment theories relating to risk and return on investments, and an appraisal of modern techniques in bond and stock valuation.

The course presents the essentials of money and banking, with special reference to developments of recent years. Balanced emphasis upon both theoretical and practical aspects of the subject is the basis for interpretation of problems such as inflation, recession, the interest rate structure, and national debt.

The course is designed to help students master the theory and applications of financial management. Emphasis is on the analytical aspects of financial problem solving using theory and concepts applied to a business setting through the use of case examinations. The importance of advanced quantitative techniques and the useful application of capital budgeting techniques are stressed. The material covered and the cases and problems examined offer an opportunity to assess and understand daily decisions on risk and return facing the practicing manager.

This course studies theories and techniques used at all levels of government management of an economy. Expenditure, receipt, budget, and debt policies will be emphasized.

This course examines sets, counting techniques, probability, decision theory, statistics, and Math of Finance.

This course stresses the application of probability and statistics in business decision-making using cross sectional and historical data. The course begins with estimation and hypothesis testing for parameters of two populations. The Chi-square distribution is applied to contingency tables and the F distribution is applied to analysis of variance with emphasis on statistical decision-making models. Time series analysis, linear regression and correlation models are constructed and estimated. The traditional tests of statistical significance are applied, and the models are examined in light of the assumptions underlying the least-squares technique. The course will make active use of technology by requiring the use of computer software.

This course discusses limits, continuity, derivatives, maximum and minimum problems, related rates, and Mean Value Theorem. The course will make active use of technology by requiring the use of a graphing calculator and computer software.

This course is devoted to the study of the fundamental principles and processes of an economic system, with special emphasis on the coordination and control of the United States economy. Emphasis is on the macroeconomic approach.

This course examines individual decision making in various applied economic environments. Areas of application include international trade, market structures, labor markets, and various U. S. institutional environments, both public and private. Basic emphasis is on the microeconomic approach.

This course introduces the student to financial management, with emphasis on the identification and solution of the financial problems facing business enterprises. Basic financial analysis is examined in concert with management of working capital, management of long-term assets, cost of capital, and long-term financing. Basic modern quantitative analytic techniques are used to introduce students to improved forecasting and planning methods.

This course covers a study of the forces causing fluctuations in business activity. Possible devices to stabilize the economy will be explored. Also, the course will explore ways used by economists to attempt to predict the level of economic activity.

This course provides an analysis of economic relationships among countries, including studies of the balance of payments, the international currency system, government adjustment policies, the pure theory of international trade, and international financial markets, as well as an examination of recent issues of national industrial trends towards protectionism.

This course presents a study of the most important individuals in the development of modern economic thought. Both early and contemporary economists will be discussed, and their specific contributions will be related to current economic theory and practice.

This course is designed to provide a broad understanding of general theory and practice, with emphasis upon those principles common to all special fields: property, life, disability, liability, workers’ compensation, fidelity, and automobile insurance. Accounting majors may take this course for economics credit.

The student will study of the structure, operations, and role of commercial banks. Attention will be given to sources and uses of funds, liquidity, earnings, capital structure, and regulation.

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