The Department of Business Administration and Economics offers a comprehensive program of technical study within the context of the liberal arts. The program is one of the largest of its type among all women’s colleges in the country.
Saint Mary’s has a long history of providing quality international programs as an essential part of our educational mission—forming women leaders who will make a difference in the world. As this world becomes increasingly interdependent, the College offers an expanding range of semester, year, semester break, and summer study and service programs in a wide variety of countries, and encourages students to take advantage of them. Learn more about the various Study Abroad opportunities.
No student majoring in Business Administration, Accounting, or Economics may enroll in a course offered by the BUEC Department on a Pass/Fail basis. The policy does not apply to courses which are conducted on an ungraded basis (ie., internships, independent studies and TAP).
A major may graduate with a Bachelor of Arts degree (B.A.) in economics; a Bachelor of Business Administration degree (B.B.A.) with a major in Business Administration and a concentration in accounting, finance, management, management information systems (MIS), marketing, or international business; or a B.B.A. degree with a major in Accounting.
Most states require 150 hours of collegiate education to sit for the Certified Public Accountant (CPA) exam. Students at Saint Mary’s College have several options for meeting the 150-hour requirement, including:
Some professions (e.g. nursing, teaching, social work, speech therapy, accounting, etc.) require specific requirements for licensure and/or hiring (e.g. acceptable criminal background check, sex offender check, drug and alcohol testing, citizenship or permanent resident status documentation, valid immigration status for non-US citizens, valid social security number, etc.). Such requirements may also apply to required clinical and fieldwork, or other out-of-class room experience necessary to complete degree requirements in the majors related to these professions. These requirements are determined by laws and regulations at both the state and federal levels and are subject to change. Saint Mary’s College strongly urges all admitted and current students to research and understand the appropriate requirements for their intended course of study and profession. Compliance with these requirements is the responsibility of the student and the graduate. You should become informed and continue to monitor such requirements as laws and other legal requirements are subject to change.
362E Spes Unica Hall
J. Cergnul, A. Farshbaf, A. Fitwi, J. Gillespie, J. Hicks, M. Merryman, S. Rohr, J. Rogers, S. Vijay
Programs in the department emphasize the following student goals:
These goals are implemented by offering challenging courses, by providing internship opportunities with local businesses and agencies, and by sponsoring guest speakers and seminars to define the role and future of women in business.
Introduction to accounting and the accounting profession with a focus on the use of accounting information by external decision makers (financial accounting). Emphasis on recording economic transactions, financial reporting and analysis of financial statements. This course is required for all business majors and minors.
A continuation of the introduction to accounting with a focus on the use of accounting information by internal decision makers (managerial accounting). Topics include budgeting, cost-volume-profit analysis, standard costing, responsibility accounting and performance evaluation. This course is required for all business majors. Prerequisite: BUAD 201.
Introduction to essential principles of management that are necessary for more advanced business study and/or employment in large and small organizations. Major topics include functions of management such as planning and organizing work tasks, coordination and control, foundations of individual and group behavior, motivation, leadership, decision making, change management and communication. Emphasis is on skill development (team and interpersonal).
Introduction to marketing emphasizing the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services for not-for-profit organizations and business firms. Includes study of end consumer and organizational market needs, marketing research, marketing planning, market segmentation, product development, promotion, advertising, personal selling, publicity, sales promotion, direct marketing and channels of distribution.
Have you wondered what your life will be like after college? Starting on your own can be challenging. This course will provide you with financial knowledge that will help you to make informed decisions in the real world. Possible topics covered at a basic level could include an overview of the financial planning process, personal financial statements, investing [401(k)s and IRAs], credit management, insurance, income taxes and important legal documents including wills, living wills and durable power of attorney. In addition, gender issues related to personal finance will be discussed. Business majors may receive credit for BUAD 240 or BUAD 314, but not both. Appropriate for non-business students. Prerequisite: Junior or senior standing.
A one-week experiential learning opportunity centering on the American business climate. Through a variety of activities before, during, and after the trip, students will broaden their understanding of diverse business contexts, industries and careers. Office visits may include American and multi-national corporations, private and public companies, exchanges, and federal or state agencies that support or regulate commerce and trade. Note: Offered as a travel course fall/spring break or summer.
Continuation of BUAD 301; emphasis on accounting concepts and application involving analysis of long-term liabilities and stockholders’ equity; preparation of statement of cash flows; correction of errors and accounting changes; accounting for pensions, leases, and deferred taxes. Prerequisite: BUAD 301.
Theory and practice of accounting for costs in different sectors of the economy, especially in manufacturing companies. Study of particular topics includes job order and process costing, cost-volume-profit relationships, variable costing, balanced scorecard, and variance analysis, static and flexible budgets, and relevant costs for decision making. Behavioral issues are also considered. Prerequisite: BUAD 202.
Study of the federal law as it relates to the taxation of individuals. Topics covered include: income, deductions, gains and losses, and alternative methods of computing tax. Special emphasis on tax planning.
Accounting for governmental units, colleges and universities, hospitals, voluntary health and welfare organizations, and other non-profit organizations; emphasizing the differences between generally accepted accounting principles for business and non-business enterprises. Prerequisite: BUAD 301.
Introduction to occupational fraud and abuse. Students will learn how and why occupational fraud is committed, how fraudulent conduct can be detected, and how allegations of fraud should be investigated and resolved. Prerequisite: BUAD 201.
Managerial finance is the dynamic study of decision making on financial issues pertaining to the firm. An overview of concepts, tools, and techniques acquaints students with the financial manager’s activities and decisions employed to maximize shareholder wealth. Prerequisites: BUAD 201 and junior standing.
Studies marketable securities such as common stock, bonds and warrants; analysis of the contractual characteristics of these assets, the markets in which they are traded and factors affecting investment decisions. Prerequisite: BUAD 312.
Presents an overview of personal financial management from the perspective of a professional financial planner. Students gain an appreciation of the need for comprehensive financial planning and a working knowledge of how to carry it out effectively. Topics include financial statement preparation and analysis, debt management, risk management and insurance, investments, retirement and estate planning, and the duties and responsibilities of a professional financial planner. Business majors cannot receive credit for both BUAD 240 or BUAD 314. Prerequisite: BUAD 312 (or concurrently).
Studies the management of financial institutions, with a focus on the asset/liability management theme. Topics include financial markets and interest, interest rate risk management, depository institution management, and regulatory aspects and policy formulation in a rapidly changing environment. Prerequisite: BUAD 312.
Studies a company’s financial position and the results of operations by using its financial statements: the balance sheet, income statement, retained earnings statement, and statement of cash flows. Topics include valuation of a firm’s equity and debt securities, and evaluation of short-and-long term credit. Prerequisite: BUAD 312.
Introduces students to the principles and theories of human resource management emphasizing the strategic role of human resource managers as partners with line managers. Topics include social, legal and ethical considerations of HR; workforce diversity, EEO, and affirmative action; job analysis and human resource planning; recruitment; selection; training and development; performance appraisal; compensation and benefits; safety and health at work and employee and labor relations. Prerequisite: BUAD 221.
The course focuses on human behavior in organizational settings, the organization itself, their intersection and small group processes. Topics include OB across cultures, perception and attribution, personality and individual differences, motivation theories and their application, group dynamics, teams at work, power and politics, organizational processes of communication, decision making, change and conflict and negotiation, organizational culture and organizational design for strategic competency. Prerequisite: BUAD 221.
Highlights challenges faced by women and persons of non-Euro-American background in the management world. Topics include changing nature of the of the workforce, barriers faced by women managers, gender differences in communication styles, glass ceiling, career breaks and re-entry into work, work-life balance, dual-career issues, sexual harassment, working with diverse groups including African Americans, Latino Americans, Asian Americans, Arab Americans, organizational payoffs of pursuing diversity. Prerequisite: Junior/Senior standing or permission of instructor.
Study of the various types of advertising and promotion used in today’s society, how the consumer perceives a product, the purposes of a promotional campaign and how an organization determines the type of promotion it will use. Topics include advertising, sales promotion, publicity and direct marketing. Cannot receive credit for both BUAD 331 and COMM 406. Prerequisite: BUAD 231.
Class examines marketing via social media networks. Course covers the objectives, strategies, tactics and application of social media in marketing plans. The course also examines the role and professional activities of social media marketers within the larger context of traditional and digital marketing. Prerequisite: BUAD 231
The role of research in marketing decision-making. Includes marketing problem definition, questionnaire development, sample selection, data analysis, survey methodology, sources of secondary data and presentation of research results. Prerequisite: BUAD 231.
Basic study of consumer, business and non-profit organization buyers. Emphasis on cultural, social, psychological, and demographic influences on the buying decision process. Development of analytical skills used as basis for other marketing electives. Prerequisite: BUAD 231.
Just in time technologies and processes drive nearly all product and service supply chains around the globe. As the world becomes increasingly interconnected, marketers must not only recognize, but also compete to succeed in a global economy filled with existing and potential global suppliers and stakeholders. Customer demands for individual engagement, attention and specialized products are transforming commerce at every stage, especially the supply chain. Today’s high-stakes, higher speed economy requires dynamic, market-savvy operations and marketing planning to keep pace with accelerating service demands and response times. Students will learn the dynamics, the metrics and the tools to achieve success in this business environment. Prerequisite: BUAD 231
Brand Management focuses on the practical role a brand manager plays in any branded organization. The course defines the elements of brand, sources of brand equity and its growth or diminishment via a variety of market forces. Students learn through creating their own brand, understanding the evolution of brands and the activities a brand manager undertakes to support internal and external brand equity. The course capstone requires the creation of a complete brand manual to assure comprehensive understanding. Prerequisite: BUAD 231.
In New Venture, students will learn about starting a new business including formulation of a business plan, determining a viable business model, funding the business, price and promotion of the product/service, establishing an accounting information system, and other operational and launch issues faced by small business entrepreneurs. Students will actually experience real world entrepreneurship. This course has no prerequisites and will benefit any students considering starting their own business.
Introduction to legal reasoning and the legal environment of business, including the structure and operation of the judicial process and alternate dispute resolution mechanisms; the laws of contracts and sales, agency, bailments and torts. Prerequisite: Junior or senior standing.
Introduction to essential aspects of written and oral business communication that include interpersonal skills, making oral presentations, effective listening, giving feedback, writing business letters, reports, proposals, memos and emails. The course also examines gender differences and cross-cultural differences in communication.
Systematic analysis and evaluation of business values, ethical climates of corporate cultures, and the moral issues encountered in business practice. Students develop an ethical framework for future decision making through cases, reading and discussions. (Also listed as JUST 346).
Travel to various international locations as part of a summer travel program or from Saint Mary's Rome campus. Lectures on topics in International Business will be interspersed with field trips to businesses and governmental/ trade organizations. Students may enroll for up to three credits with a major paper required. Students with a concentration in International Business may count this course toward their requirements. Prerequisite: BUAD 221 or BUAD 231, or ECON 251 or ECON 252.
The presentation of selected subjects of special relevance not included in regular departmental offerings. Prerequisite: established by the instructor. May be repeated with different topic.
Accounting for partnerships, business combinations, consolidated entities, business liquidations, and bankruptcy. An overview of the federal regulation of securities transactions. Prerequisite: BUAD 302.
Principles, standards and procedures underlying the audit of financial statements. Topics include the legal aspects of auditing, internal control, preparation of related working papers and the audit report. Prerequisite: BUAD 302.
Preparation of federal and state income tax returns for low-income individuals. (Cross-listed with University of Notre Dame, College of Business Administration course ACCT 40660-Tax Assistance Program.) Graded S/U. Prerequisite: BUAD 304. May be repeated for credit.
Study of the federal tax law as it relates to the taxation of individuals, corporations, partnerships, estates, and trusts. Other advanced topics include emphasis on tax research and tax planning. Prerequisite: BUAD 304.
International aspects of corporate financial management, focusing on financial problems unique to firms doing business overseas. Topics covered include exchange rate determination, exchange exposure, political risk, direct foreign investment, international capital markets, funds management, international banking, and financial trade. Prerequisites: BUAD 312 and MATH 114.
Analysis of the global dimensions of management covering topics as strategy, managing, political risk, communication and motivation in cultural complexities, organizing international operations, negotiations, selection training, repatriation, ethics, women in multinational corporations, and current topics. Team case analysis, projects and exercises are used to introduce a variety of important skills needed in international operations. Prerequisite: BUAD 221.
An introduction to operations research—quantitative models used in management decision-making. The course will focus on the models as tools, with computer software used extensively for problem-solving and assignments. Case studies are used. Prerequisites: MATH 114 and BUAD 221 (also listed as MATH 251).
Study of structures and practices of retailing. Emphasis on current and emerging retailing concepts including category stores, cable shopping networks and e-commerce on the Internet. Topics include strategies, merchandise policy, site selection, pricing, and financial control. Prerequisite: BUAD 231.
Analysis of the functional and environmental differences peculiar to marketing internationally. Emphasis on developing skills of research, cultural sensitivity, analysis, oral and written communication skills with country description and export feasibility projects including international documentation. Prerequisite: BUAD 231.
Digital Marketing has surpassed most other forms of marketing. Smart devices dominate the marketing communications landscape in terms of organizational usage and personal engagement. Social media networks are integrated in coursework focused on their marketing value. Metrics, creative and placement strategies are covered in great detail. The course capstone requires a student to evaluate a firm and construct a new digital marketing plan. Prerequisite: BUAD 231.
Study of the different opportunities, duties, responsibilities, and ethics relating to sales management and professional selling in organizations. Emphasis will be on developing the knowledge, attitudes, and skills essential in assessing and meeting client needs for effective selling.
Study of the marketing management activities of planning, organizing, implementing and controlling the marketing mix with emphasis on small and mid-sized businesses through an entrepreneurial project. Prerequisite: BUAD 231, junior or senior business major or permission of instructor.
Examines marketing via artificial intelligence and machine learning. Covers required interrogatories, data, desired analytics, objectives, strategies, and application of artificial intelligence and/or machine learning in marketing plans including product innovation. The course also examines the role and professional engagement of marketers within the larger context of artificial intelligence marketing. Prerequisites: BUAD 231, BUAD 331
Continuation of the study of the relationship between law and business, including securities law, commercial paper, secured transactions, bankruptcy, insurance and trusts. Recommended for students concentrating or majoring in accounting. Prerequisite: BUAD 344.
An integrative course in top management decision-making with an emphasis on the process of strategic planning. Cases are used to develop analytical, ethical, teamwork and communication skills important in the business environment. Prerequisites: BUAD 312, senior standing, and substantial completion of all other major core requirements.
An opportunity for in-depth self-study (with faculty supervision) of a topic in business or economics not otherwise offered by the department. This course will count only as a college free elective and does not fulfill any Business Administration or Economics requirements. Graded S/U. Prerequisite: permission of department chair. May be repeated.
Professional work experience with a business or non-profit organization in a specific concentration or major. A student works 8-10 hours per week and makes periodic written reports and oral presentations. The Internship in Business course may not be used to satisfy any major requirements. Graded S/U. Prerequisite: Senior standing (or spring semester Junior year) and permission of department chair. Open to BUAD, ECON and MIS majors. May be repeated.
Economic principles relating to the functioning of the aggregate economy, including the fundamentals of national income measurement and determination, money and banking, fiscal and monetary policies and economic growth.
Economic principles relating to the determination of prices and output under competition, monopoly and other market structures. The theory of consumer demand, analysis of the cost structure of the firm, pricing and employment of resources, and distribution of income.
This course uses economic theory and empirical methods to study the issue of crime and punishment. Traditional scholarly research in this area was done by criminologists or sociologists, who might focus on the deviant psychology of the criminal mind or the social forces that would drive someone to crime. Economists differ in focus when they discuss crime: we view most crime as utility-maximizing decisions made in response to incentives. As these incentives can be altered (say, by hiring more police, or expanding use of the death penalty), presumably crime is responsive to public policy. In some cases, economic theory will be the appropriate tool to analyze crime policy (for example, economists worry about bad incentives coming from three strikes laws), but more often, we will use empirical methods to measure how responsive crime is to different policy options. Prerequisites: ECON 252
Game theory is the study of strategic interactions; situations in which the outcome of one’s action, and what is optimal to do, is dependent on what others do, or even believe others will do. Such strategic interactions are called games and can range from the daily pleasantry exchanges with people around you to complicated nuclear standoffs among nations. In game theory, we model such games in simpler settings to make them tractable and to focus on the essential factors. Our objective in game theory is to gain insights about the behavior of the parties involved, in the past or in the future. Such insights, besides being intrinsically valuable, will allow us to act more prudently in our interactions at all levels -with our parents, employers, or when we are called upon to handle an international crisis. The games we study span from simple and expand to models of multiple players and multiple rounds with possibility of a continuum of actions, where building reputation and adding uncertainty to one’s decision make the interaction more complex. Information plays a significant role in game theory. What you know about others and what others know about what you know -and so on- can make an enormous difference in strategic situations.
The presentation of selected subjects of special relevance not included in regular departmental offerings. Prerequisite: Established by the instructor. May be repeated with a different topic.
Designed as a senior level, second semester course that applies intermediate level macro- and microeconomic theory to current issues. It also seeks to foster communication skills and to utilize the research methods and techniques acquired in Statistical Applications (BUAD 341). Prerequisites: BUAD 341, ECON 351, ECON 252.
An opportunity for in-depth self-study (with faculty supervision) of a topic in economics not otherwise offered by the department. This course will count only as a college free elective and does not fulfill any Business Administration or Economics requirements. Graded S/U. Prerequisite: permission of the department chair. May be repeated.
Professional work experience where a student works 8-10 hours per week and makes periodic written reports and oral presentations. Graded S/U. Prerequisite: Senior standing (or spring semester Junior year) and permission of department chair. May be repeated.