Courses

Course offerings reflect the 2017-2018 Elmhurst College Catalog. One unit of credit equals four semester hours.

Bidisciplinary courses may also be taken for major or minor credit for this program.

Business Courses | Economics Courses

Business

A study of the functional aspects of marketing, the operations of our marketing systems and methods by which marketing decisions are made. Emphasis on strategy development through the application of sound marketing principles.

This course combines a survey of the foundations of management theory and practice with a strong experiential component and an emphasis on skills development. Students will work on both written and oral expression and creative thinking as well as team skills and team development issues. The class is highly interactive. Subjects include planning, motivation, leadership, communication, decision making and problem solving, ethics, groups and teams, organizational change and politics.

Principles of accounting theory and practice involving the study of the accounting cycle, and preparation and analysis of financial statements. Prerequisite: competency by placement test at the MTH 111 level.

A study of the use of accounting as a basis for intelligent business decisions in planning and control. The mechanics and details of accumulating data are de-emphasized and the application stressed. Prerequisites: MTH 126 or higher, BUS 261 or consent of instructor.

A study of the basic concepts of accounting and financial management and their applications to business processes, business analysis and business decisions. This course is not open to majors in business. It is open to students who plan to minor in business administration.

This course is designed to provide a basic understanding of the various facets of international business. Starting with basic trade theories, it covers the mechanics of the foreign exchange market, international finance and accounting, marketing, cultural differences, and management strategy under the international environment, organizational structure and practices of the multinational company and international institutional arrangements. The course is taught using state-of-the-art techniques with discussions on current economic and business problems.

This course provides an introduction to the planning and execution of all activities involved in the upstream and downstream aspects of a firm’s supply chain. Upstream activities include, but are not limited to, sourcing and procurement, capacity planning, production operations, and related logistics activities. Downstream activities include, but are not limited to, distribution, transportation, product delivery and customer service, and demand forecasting. The emphasis is on collaboration and coordination with all players in a firm’s supply chain. Special emphasis is placed on the functional areas of logistics such as customer service, transportation, inventory control, warehousing and packaging. Fall Term, evening; Spring Term, day.

This course provides a survey of the principal processes in upstream operations of an organization and their interfaces to each other and to other processes. In the area of purchasing, the course covers the fundamentals of sourcing, procurement and inbound logistics, including warehousing and transportation and supplier management. Key elements of this course include inventory management, production planning, scheduling of operations, material handling, quality assurance, safety and related topics. Prerequisite: BUS 301. Fall Term, evening.

This course provides planning and analysis of the principal processes in the downstream operations of an organization and their interfaces to each other and to other business processes. This course focuses on sales and operations planning processes, including demand forecasting methods and how these drive production planning and procurement, manufacturing operational decisions including outsourcing, warehousing and distribution of products including logistics and transportation, product delivery and customer service and reverse logistics. Prerequisite: BUS 301. Spring Term, evening.

In today’s business environment, it has become increasingly important for individuals to develop the ability to use Microsoft Excel to perform complex analysis for decision-making purposes. This course is designed to help students develop a number of Excel-based skills to perform a variety of business-related analyses. This is a hands-on, problem-based course in which students will learn a variety of Excel tools by working on a number of case studies. Fall Term.

Basic concepts, processes and techniques of selling including customer analysis, effective communications, handling objections and developing customer satisfaction. Preparation of actual sales presentations by each student. Emphasis is on business-to-business selling. Prerequisite: BUS 230. Fall Term; alternating day and evening.

A study of types of retail institutions, organizations, store location, buying and merchandising techniques, advertising and sales promotion, and inventory control. Prerequisite: BUS 230. Fall Term, day; Spring Term, evening.

Social, economic and legal aspects of advertising. Emphasis on advertising as a communications tool with practical applications of theory to specific problems. Strategy and tactics of management decision making regarding advertising, with a focus on the mass selling techniques relative to campaign development, including evaluation of effectiveness. Prerequisite: BUS 230. Spring Term, day; Fall Term, evening.

The analysis and interpretation of consumer buying behavior, stressing the contributions of psychology and economic and sociocultural influences. Students will examine contemporary models of consumer behavior, emphasizing the relationship of behavioral science theory to marketing management decision making. Prerequisite: BUS 230. Fall Term, evening; Spring Term, day.

A study of research methods and the collection and use of internal and external information for analysis and decision making in marketing problems. Prerequisites: BUS 230 and MTH 345. Fall Term, day; Spring Term, evening.

Principles underlying the financial management of a business enterprise. Among the topics discussed are financial analysis and planning, working capital management and basic capital budgeting. Prerequisites: BUS 261, ECO 0 in spreadsheet software required; consent of instructor.

This course examines the nature and role of culture and diversity in the workplace, ways to manage diversity in the workplace, the implications of diversity for business operations and understanding of differences in light of globalization of the world’s economy. Prerequisite: sophomore standing or consent of the instructor.

This class offers students a broad overview of entrepreneurship from a historical and current perspective. Students will learn about important tools and develop skills necessary to create and grow a new business. Students will create a new venture business plan, consider ways to finance the new venture and establish a plan for growth. Upon completion of the course students will have gained general knowledge of new business development. No prerequisite. Open to all students.

.50 credit

A study of management issues and theories and the special problems and approaches that are required of women in a typical organizational setting. Emphasis on skill building, particularly in the areas of leadership and effective communication. Prerequisite: BUS 250.

Examines human resource policies including staffing, training, job analysis and evaluation, compensation, employee development, union relations and government requirements. Prerequisite: BUS 250. Fall Term.

This course examines the structure, process and nature of negotiations through experiential methods to (1) develop an understanding of negotiation models, strategies, conflict resolution, communications styles, situational analysis and elements of power and influence; and (2) develop negotiation skills. Prerequisite: junior or senior standing or consent of instructor. Spring Term, January Term.

Operations management covers the broad range of activities performed in the production of a good or service. It covers scheduling, forecasting, inventory control, purchasing, quality control, work measurement, methods improvement, layout, material handling, safety, facilities planning, operations strategy and project management. The course examines the management of the functional area in the organization that either produces a product or provides a service. Since most employees of an organization are in the operations area, the course includes discussion of ways to develop and coach employees to achieve their best results. Prerequisite: BUS 250 or consent of instructor. Spring Term, evening.

This course addresses the financial, non-financial and ethical dimensions of managerial decision making. Topics include cost behavior, cost-volume-profit analysis, cost systems, budgeting and control, and activity-based costing. Emphasis is on the interpretation and use of accounting information rather than its creation and accumulation. Prerequisites: BUS 261, 262, MTH 126 or higher. Fall Term, evening; Spring Term, day.

Theory and analysis of valuation applied to assets and current and noncurrent liabilities of the balance sheet and to the related revenue and expenses for income determination. Prerequisites: BUS 261 and 262.

Theory and analysis of valuation applied to corporate equity accounts and to the related revenue and expenses for income determination. Study of income tax allocation, leases and cash flow statement. Prerequisite: BUS 361. Fall Term, evening; Spring Term, day.

Legal problems confronting people in their relationships with the business world. Subjects include contracts, agency, employment, negotiable instruments, real and personal property, bailments and sales.

The use of information technology will be studied as an enabler of organization activities and objectives, rather than as the major focus of study. Topics covered include the role and purpose of accounting information systems in an organization; the evolution of accounting information system architecture; business processes, organization risk and controls; and specific business processes including the sales/collection process, the acquisition/payment process, the payroll process and the financing process. Prerequisites: BUS 261 and 262. Fall Term, evening; Spring Term, evening.

.25 credit

This seminar offers information on how to budget, plan and repay financial aid and how to manage your credit. Open to all students. Fall Term.

.25 credit

This seminar offers information on tax preparation, benefits, life insurance and investments. Open to all students. Spring Term.

This course focuses on aspects of marketing in the world of international business. Different market and distribution systems in various countries are explored as well as the social and economic factors in international markets. Students will analyze the organization of trade channels in various cultures, typical government policies toward international trade in countries at different stages of development, and international marketing research and advertising. Prerequisites: BUS 230, 250, 271. Fall Term, evening.

With the rapid globalization of the world economy, management decisions are greatly influenced by variables such as exchange rate policies, trade policies, international accounting standards, etc. The goal of this course is to help students understand how the managers of a firm function in this increasingly uncertain environment. This course will focus on four main areas of international finance and accounting: 1) exchange rate risk management, 2) international finance decisions, 3) international accounting standards and 4) accounting for international transactions. Prerequisites: ECO 210, 211. Prerequisite or co-requisite: BUS 340. Spring Term.

This course provides approaches to modifying, restructuring or re-engineering existing business processes and developing new processes to improve business performance. Key topics include: process mapping, process measurement, creating and managing global process redesign teams, evaluating and managing business process outsourcing, project management and reporting to executive management for decision-making. Hands-on experience with software and other tools will be an integral part of the course. Prerequisites: BUS 250 and BUS 271. Spring Term, evening.

This course addresses the question of how successful business managers promote innovation in their organizations. The course will cover the innovation process from ideation through implementation. A class project is used to develop creative and implementation skills such as brainstorming, managing change, project management and experimentation. A main emphasis in the course is placed on the development of the management skills necessary to help employees in any functional area become innovative. Even years.

A capstone course stressing the application of decision-making approaches in marketing management. Cases are used in studying problems encountered in planning, executing and controlling marketing strategy. Topics include analysis of buyer behavior, advertising and sales promotion, pricing, channel selection and product policies. Prerequisites: major in marketing and senior standing. Fall Term, evening; Spring Term, day.

This course is designed to help students gain a better understanding of the basic theories, instruments, environments and practical techniques associated with personal investment. Upon completion of this course, students will be better prepared to make sound personal investment decisions. Prerequisite: junior or senior standing. Fall Term, alternate years.

This course is designed to examine the ways financial managers make their decisions at the corporate level. The course will focus on studying the decision making process regarding cost of capital, capital budgeting, cash flow analysis, capital structure and other financial decisions. Prerequisite: BUS 340. Fall Term.

This course is designed to study a number of theories that form the foundation of sound investment decisions. The course will focus on the portfolio theory, various asset pricing models (such as CAPM and APT) and the efficient market hypothesis. In addition, the course will look at several issues related to portfolio management, such as bond portfolio management strategies, equity portfolio management strategies and the evaluation of portfolio performance. Prerequisite or co-requisite: BUS 340; recommended BUS 440. Spring Term.

A study of management of financial institutions, their regulations, investment practices and risk levels. Primary focus is on depository financial institutions. Prerequisite: BUS 340. Fall Term.

Course explores human behavior in organizations, using a “micro”-level focus to investigate issues affecting individual behavior, interpersonal relations, groups and organizations. Students work in a variety of small groups and participate in experiential learning. Prerequisite: BUS 250. Spring Term.

An examination of various leadership, managerial and administrative concepts and philosophies. The course places emphasis on the development of attitudes and values appropriate to professional management. The course uses an action learning approach to integrate the various theories and concepts presented. Prerequisite: BUS 250 or consent of the instructor. Spring Term.

This capstone course focuses on the management of organizations in today’s global environment. Emphasis is placed on the understanding of business strategy and how it is formulated, implemented and analyzed. Group decision making, case analysis and simulation are integral to the learning process. The class culminates with group presentations on the strategy developed and executed as part of the strategy game. Prerequisite: all business core courses.

This course covers compensation policies and practices and their relation to organizational effectiveness and employee satisfaction. Students examine job analysis, job evaluation, benefits evaluation and total compensation packages, and review relevant legislation. Prerequisites: BUS 250 and 354.

This course studies the interrelationship between the business community and society, including corporate social responsibility, stakeholder relationships, business ethics and environmental sustainability. Students address real-life business issues through analysis of case studies in corporate social policy and class debates.

A study of the legal and accounting aspects of the federal tax on incomes. Emphasis is on specific problems through actual preparation of individual, partnership and corporate returns using current tax forms. Prerequisite: BUS 362 or consent of instructor. Fall Term.

Auditing theory and procedures for use both in private and public accounting. Emphasis on internal control, generally accepted auditing standards, ethics of professional accounting, practical working techniques and reports. Prerequisites: BUS 362. Fall Term, evening; Spring Term, evening.

.50, 1.00 or 1.5 credit

Provides selected business students with controlled, on-the-job experience with businesses, government agencies or institutions. May be taken during the regular term with part-time employment of 7 to 13 hours weekly for .50 credit, 14 to 17 hours weekly for 1.00 credit, 18 to 20 hours weekly for 1.50 credit, or during Summer Term with 36 to 40 hours per week. Applications should be made early in the term preceding registration and are reviewed on the basis of academic grade-point average, faculty recommendations, professional progress and demonstrated interest. Junior or senior standing with a cumulative grade-point average of 2.5. Pass/No Pass grading. May be repeated for credit. Prerequisite: approval of the Department of Business Internship Coordinator. Each term.

.25 credit

Provides career exposure for junior and senior business majors. Students meet in small groups with a professional in a business field of interest and complete tasks to learn more about a potential career and the qualities leading to success. Tasks include resume preparation, job shadowing, networking and interviewing. May be repeated for credit. Students must apply before the midSeptember deadline. Course begins in the Fall Term, and P/NP credit is earned in the Spring Term.

An opportunity for faculty and students to study topics of current and unique importance that are not contained in the general curriculum. Topics vary on the basis of interest expressed by students and faculty and include workshops on personal finance. Depending on the topic, consent of instructor may be required, and grading options will vary. Consult appropriate term course schedules for prerequisites and grading options. Open to all college majors. May be repeated for credit.

For senior students who wish to pursue additional study of topics developed in other business courses. The precise format is determined by the nature of the topic, student ability and the instructor with the approval of the director. A limited number of students are accepted on the basis of academic grade-point average, faculty recommendation, professional progress and demonstrated interest. Repeatable under special circumstances to a maximum credit of two courses. Prerequisites: major within the Department of Business, senior standing and consent of the chair. Upon request.

.50 credit

This course gives Honors Program students the opportunity to design and implement a significant research project in the field of business, culminating in an appropriate public dissemination of research methods and findings. This research must build upon previous coursework taken within the major or minor, facilitating faculty supervision and guidance. Repeatable for credit. Permission of the faculty supervisor and the director of the Honors Program required prior to registration.

Economics

This course is a guide to economic literacy and the global economy in the 21st century. Students will be introduced to economic concepts and how these concepts can contribute to a better understanding of the world around us. Topics covered include how markets work, economic decision making, price determination, market structures and their impact on business behavior, business cycles, money creation and the banking system, economic stabilization policies and international trade. This course does not count towards the economics major.

No prerequisite. Every other year.

An introduction to how individuals, firms and markets interact in determining the allocation of resources with applications of the economic theory of human behavior.

No prerequisite. Open to all students.

An introduction to national income theory, the process of the creation and control of the money supply, fiscal and monetary policy and international economics.

No prerequisite. Open to all students.

A study of the market for labor services. Topics include wage determination, occupational and wage differentials, investments in human capital labor unions and collective bargaining as well as other market issues.

Prerequisites: ECO 210, 211 and MTH 126 or 151 or equivalent.

Gains from an international economy, barriers to international trade, international monetary systems and analysis of economic problems such as economic development, balance of payment deficits and regional economic integration.

Prerequisites: ECO 210, 211 and MTH 126 or 151 or equivalent.

A study of various contemporary economic systems. Models of a capitalist market economy, centrally planned socialism and market socialism are analyzed. Cases of economic systems such as those of Japan, U.S., China and Europe are studied. The special problems and policies associated with the transition from a planned economy to a market economy are examined.

Prerequisites: ECO 210 and 211.

The role of commercial banks and the Federal Reserve system in the creation and control of the money supply; analysis of the relationship between the money supply, level of economic activity, price level and interest rates; and the role of monetary policy in economic stabilization.

Prerequisites: ECO 210, 211 and MTH 126 or 151 or equivalent.

A study of the role of the pricing of products and productive services in the operation of the economy. Consideration is given to the issues of efficiency, monopoly, inequality, consumer welfare and an application of economic analysis to a variety of policy issues.

Prerequisites: ECO 210, 211 and MTH 126 or 151 or equivalent. Fall Term.

Theories of national income determination and its fluctuations, economic stabilization policies and economic growth.

Prerequisites: ECO 210, 211 and MTH 126 or 151 or equivalent. Spring Term.

Statistical analysis using multiple regression, time series, and advanced forecasting techniques in business and economic applications.

Prerequisite: MTH 345, PSY 355 (C or higher)

A seminar designed to give faculty and advanced students in economics an opportunity to study current theoretical developments, issues and policies in economics. Specific topics vary with the interests of faculty and students.

Repeatable for credit.

Reading and research open to juniors and seniors majoring in economics and other majors who have a background adequate for research on problems with important economic content.

Prerequisite: approval of the department chair.

.50 credit

This course gives Honors Program students the opportunity to design and implement a significant research project in the field of economics, culminating in an appropriate public dissemination of research methods and findings. This research must build upon previous coursework taken within the major or minor, facilitating faculty supervision and guidance.

Repeatable for credit. Permission of the faculty supervisor and the director of the Honors Program required prior to registration.

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