Business Administration and Economics
www.mcla.edu/badm
Chairperson: James Moriarty, MBA (sabbatical, fall 2024)
Email: J.Moriarty@mcla.edu
(413) 662-5313
Acting Chairperson (fall 2024 semester): Thomas Whalen, Ph.D.
Email: T.Whalen@mcla.edu
(413) 662-5317
Business Administration Major
The Department of Business Administration and Economics offers a four-year program leading to a Bachelor of Science in business administration that is accredited by the Accreditation Council for Business Schools and Programs (ACBSP). The major in Business Administration allows students to specialize in any of the following concentrations: Accounting, Finance, General Business, Management, Marketing, and Sport Management. All of our concentrations offer a strong foundation of required courses, combined with relevant departmental and non-departmental courses that give students a strong base in communication, technical, and administrative skills. Additionally, the Department offers a minor in Business Administration, Economics, Entrepreneurship, Accounting, and Leadership.
Students graduating with a major in business administration will be able to:
- Demonstrate working knowledge of the major functional areas of Business and their applications.
- Communicate effectively in both written and oral form using appropriate presentation strategies.
- Identify and evaluate business problems and use appropriate tools to arrive at reasoned conclusions.
- Demonstrate quantitative skills and abilities by solving business problems and make sound business decisions.
- Identify and evaluate ethical and social responsibility implications that underlie business decisions.
Business Administration Programs
- Applied Accounting Minor
- Business Administration - Accounting Concentration (CPA and CMA Preparatory), B.S.
- Business Administration - Finance Concentration, B.S.
- Business Administration - Management Concentration, B.S.
- Business Administration - Marketing Concentration, B.S.
- Business Administration - Sport Management Concentration, B.S.
- Business Administration Minor
- Business Administration, B.S.
- Economics Minor
- Entrepreneurship Minor
- Leadership Minor
Accounting Courses
Introduces basic principles of accounting as a language, including terminology, the accounting cycle, analyzing the effect of transactions, and developing financial statements in accordance with GAAP. Students will discuss and evaluate earning manipulation from technical and ethical perspectives. Students research public companies using the SEC EDGAR research tool and apply basic ratio analysis for decision making. Spreadsheet and word processing software are used.
Introduces basic cost principles and methods used to determine, plan and control costs. The course focuses on developing and using relevant managerial accounting information to make business decisions. Students use current technological resources to analyze and record managerial accounting information.
Studies how accounting information is recorded, processed and summarized in accounting information systems. Students will be introduced to the design, operations, and management of computerized accounting information systems and will develop an understanding of internal controls, risks, applications, and ethics around accounting information systems.
Studies measurement and disclosure methods and issues in the creation and evaluation of financial statements. Students explore accounting theory, recognition of select financial transactions, and conduct research using FASB Codification System. Learners create and analyze financial statements and disclosures using the appropriate technology.
Continues the study of measurement and disclosure issues in accounting for liabilities and equity in accordance with GAAP. Further studies the theoretical, practical, and ethical issues involving alternative GAAP, as well as the income statement and the statement of cash flows. Students use computer software in the analysis/presentation of financial reporting issues.
Focuses on the development of cost information needed by managers to plan and control in manufacturing, merchandising, and service enterprises. Topics build on material introduced in managerial accounting and include; job and process costing, standard costing, cost allocations, inventory management, transfer pricing, and performance measurement. Spreadsheet and general ledger software will be used in the analysis of cost accounting information.
Studies federal income tax laws for individuals, with a broad overview of Massachusetts income tax laws for individuals. Students use commercial tax preparation software to enhance their ability to interpret and apply income tax law as it applies to individuals.
Explores the advantages and disadvantages of various organizational structures and tax issues as they relate to entrepreneurs. Students will be introduced to basic financial and managerial accounting concepts, taxation, funding sources, and general ledger software.
Explores the theoretical and practical issues involved in accounting for business combinations, multinational transactions, partnerships, governmental units and not-for-profit organizations. Students use computer software in the analysis/presentation of cases.
Examines the professional standards and ethics of auditing. Explores the theoretical foundation of standards. Considers how field work, sampling, computers, and management characteristics impact audit risk assessment. The moral and ethical responsibilities of the profession permeate the course. Students use software in the analysis and solution of cases/audit process.
Studies federal income tax for C corporations, S corporations, partnerships, trusts, and estates, and more complex personal income taxes. Students will prepare entity tax returns, perform basic tax planning, and research publicly available federal tax information from the Internet.
Offers eligible students the opportunity for enhanced educational opportunities by providing actual field experience in public or private accounting that relate to their accounting interests. During the assignment, the student will complete an individualized learning contract sponsored and approved by a faculty member from the department. Only 3 internship credits may be applied to the 30 required accounting credits to sit for the CPA exam.
Business Administration Courses
Introduces students to the basic functions and terminology of business. Topics include management of human and financial resources, production and marketing of goods and services, and legal and ethical issues in decision-making. Provides students with basic competencies in business communications, creativity, and illustrates both successful/unsuccessful decision-making.
Develops students' understanding and skills around transitioning to college, money management, budgeting, realizing financial goals, credit, and financial vehicles. Students will also use a variety of tools and resources to better manage their time, adjust to being the primary decision-maker in their life, create a budget, manage their profile, evaluate college assistance packages, and comparing financial alternatives.
Explores the application of technology to business communications and decision-making. Students will utilize word-processing, spreadsheets, databases, statistical analysis software, Internet tools, graphics and presentation software to find, retrieve, organize and present business information. Emphasizes the importance of technology (including ethics and etiquette) in facilitating efficient business communications.
Explores the managerial roles of leading, planning, organizing, and controlling in modern organizations. Blends behavioral theories of management and social responsibility and presents applications in a variety of organizational settings. Examines the role of managers in today's organization and in society and studies the complex multicultural, global organization of today.
Examines the role of marketing in today's organizations and in society and studies the complex multicultural, global organization of today. Examines basic theory and terminology with emphasis on the major marketing components: product, price, promotion and distribution. Uses multiple research sources to explore the marketing practices of today's organizations and learn real world applications of marketing theory.
Develops an in-depth understanding of the American Law Institute's Second Restatement of Contracts and the Second Restatement of Agency and relevant provisions of the Uniform Commercial Code.
Focuses on the application of common mathematical models and elementary functions to problems in the business world. The following topics are presented with emphasis on applications in business, economics, and finance: linear, polynomial, rational, exponential and logarithmic functions, along with differentiation, integration, and optimization. Other applicable topics include computations of simple and compound interest, and loans.
Provides students with an overview of the basic issues in managing events in business, cultural and tourist venues, and sport and fitness industries. Covers all aspects of event management, including feasibility studies, operational planning and marketing evaluation. Industries examined include professional, collegiate and amateur levels of sport organizations; cultural and tourism venues, as well as all business organizations planning conferences, trade shows, and other events.
Introduces students to various topics of emerging importance in the fields of marketing, management, finance, accounting, and e-commerce. Examines current issues in one or more of these areas.
Continues the study of business law focusing on sales transactions and their connection with the Uniform Commercial Code. Legal aspects of secured transactions, commercial paper, bailments and carriers are also studied.
Studies the manager's perspective in the fields of international trade and investment, balance of payments, international financial markets and monetary systems, national trade policy and laws. The course also addresses cultural variables in business, and examines how each of a number of basic management activities must be dealt with differently in the international environment than in a purely domestic setting.
Focuses on legal and social issues in the workplace including, but not limited to: diversity, inclusion interpersonal conflict communication issues, harassment, and job performance. Current events, the Constitution, statutes, adjudicated cases and ethical principles will be used to illustrate the history, philosophy, structure, processes, and controls of state and federal regulatory systems over economic, social and individual activities.
Provides an overview of the operation of athletic programs in business and educational environments. Emphasis is placed on a practical working knowledge of administration as it relates to athletes. Policies and procedures as they pertain to budget, facilities, governance, eligibility, operations and management, human resources, contests, and other pertinent forces dealing with athletic opportunities in interscholastic athletics, as well as private athletic enterprises.
Examines organizational theories of structure, culture motivation, communication and group dynamics. Cases and/or group activities are used to illustrate the application of theory to actual organizational scenarios.
Examines and analyzes personnel functions of staffing, developing, compensating and motivating. Specific techniques within each function are explored in detail. Emphasizes the legal environment in which the human resource manager operates.
Examines managerial processes for effective operations in both goods-producing and service oriented organizations. Topics include operations strategy, process selections and design, capacity planning, facilities locations and design, forecasting, supply chain management, production scheduling, inventory control, quality assurance, just-in-time, and project management. The topics are integrated using a systems model of the operations of an organization. Excel is used extensively.
Provides an understanding of labor laws and their evolution, unions and their operations, and the nature of the union-management relationship. Utilizes case decisions to illustrate the collective bargaining process.
Examines the processes and techniques of organizational team building and the interpersonal skills needed to become an effective group facilitator. Students will be assigned to teams and operate as both a member/facilitator during the semester. They will learn how to deal with dysfunctional team members while developing interpersonal skills, enabling them to identify problems and work toward solutions.
Introduces students to various types of small businesses through discussion, debate, and demonstrations. Provides them with knowledge and skills necessary to prepare a viable business plan. Students will be expected to develop and complete a business plan.
Provides an understanding of how to manage the firm's marketing program. Marketing communications, strategy, product policy and overall marketing effectiveness are explored. Appropriate application of the marketing mix is covered through practical business applications.
Provides an overview of the internal and external influences affecting the buying decision. Sociological, psychological, and economic factors are emphasized. Analyzes consumer and business decision-making.
Examines the uses and limitations of marketing research information in strategic decision-making. Follows the marketing research process from problem definition through statistical analysis of data.
Approaches the subject from an integrated marketing communications perspective. Examines advertising, publicity, sales promotions, personal selling and the use of the Internet. Positioning, creativity, media planning and overall marketing effectiveness are determinants of success that will help students visualize, create and communicate a complete project.
Examines the management of global marketing operations, emphasizing decision-making and policy formulation. Analyzes the unique social, legal and political considerations associated with marketing in different cultures.
Examines the socio/cultural and economic impact that sport marketing has on society, including race and gender issues. Also examines various promotional activities in sport marketing - media relations, publicity and public relations; image advertising; and sponsorships. Examines principles of organizing and promoting sport events and activities.
Provides students with an in-depth analysis of the marketing functions in the service industries. Explores marketing of goods and services at the wholesale and retail level, direct sales marketing, marketing of business and personal services, marketing of cultural, tourist, sporting and business events, non-profit marketing, such as the arts and social services, and the role of marketing on the Internet.
Examines the roles of women and minorities from the 1600s to the present day to gain an understanding of why and how those roles have evolved. Integrates the changes in social, political, and economic conditions and value systems as they affect the ability of women and minorities to effectively function in social and work environments.
Provides an overview of current issues relating to management and marketing areas in a variety of organizational settings. Emphasizes operating, strategic, and ethical considerations in decision-making within today's dynamic environment.
Focuses on the theoretical and practical foundations of understanding and managing global supply chain logistics. The course emphasizes the foundations and core principles of logistics and supply chain management from domestic and global perspectives, paying particular attention to organizational, strategic and operational issues. In this interdisciplinary course, students will gain a multi-faceted perspective on the broad critical themes of logistics and supply chain management.
Examines various topics in leadership studies, both current and historical. Emphasis will be placed on exploring and developing the student's personal leadership philosophy, style, and approach. Possible topics could include operational, strategic, and ethical considerations within today's dynamic social, corporate, and non-profit environment.
Examines various topics in leadership studies, both current and historical. Emphasis will be placed on exploring and developing the student's personal leadership philosophy, style, and approach. Possible topics could include operational, strategic, and ethical considerations within today's dynamic social, corporate, and non-profit environment. Additional research component will be required of students taking this course for honors credit.
Examines existing policies and development of suggested policies for the management of sport organizations. Uses case studies and current issues in sport management to develop critical decision-making capabilities. Serves as a capstone course for the concentration, integrating knowledge from the major, concentration, and other undergraduate experiences and its application to those current issues.
Studies a specific topic in accounting, marketing, management, finance, or policy for the purpose of encouraging advanced work and research in a field of interest. Content will be identified by subtitle.
Open to juniors and seniors who wish to study a topic in depth. Final reports and frequent conferences with the advisor are required. Enrollment requires individual application and department approval.
Serves as the culminating experience that integrates knowledge learned in the business curriculum. Examines the formulation, implementation, and evaluation of organizational business strategies. The course takes a broad view of the business environment by drawing together and building on the ideas, concepts, and theories from all functional business disciplines to make strategic decisions. Emphasizes extensive use of case problem analysis.
Offers eligible students the opportunity for enhanced educational opportunities by providing actual field experience in public or private organizations that relate to their academic and professional interests. Enrollment requires individual application with faculty sponsorship and department approval. Students must have completed 24 BADM/ECON credits and 12 credits at MCLA prior to application. (3 credits may be applied to the 12 upper-level credits required in the general program.)
Economics Courses
Provides an introduction to the principles and concepts of economics, with a focus on their applications in analyzing and solving social problems. Students will learn about microeconomics, macroeconomics, and key economic indicators. The course aims to equip students with the ability to apply economic principles to real-world issues.
Examines the organization of American economic systems, with comparisons to those of other countries. Emphasis is on the problems of unemployment, inflation, budget deficits and the possible fiscal and monetary policies used to correct them. The course studies such aggregate economic variables as consumption, investment, government expenditures, and taxes.
Deals with individual economic units, consumers and firms. Topic areas which are covered extensively are demand, elasticity and cost theories. The theory of wages and its application to labor markets are also discussed. An analytical study of market structure - perfect competition, monopolistic competition, oligopoly and monopoly - is emphasized.
Introduces students to various topics of emerging importance in economics. Examines one or more current issues in depth.
Introduces students to the basics of international trade and finance and the effects of various international economic policies on domestic and world welfare. The course will discuss, among other things, sources of comparative advantage, gains and losses from trade, and the impact of trade on economic growth. In addition, the course will expose students to topics on trade policy interventions such as tariffs, quotas and voluntary export restraints.
Introduces students to the economic analysis of the conflict between our lifestyle of unlimited wants and the scarce resources of our biological environment. Examines economic theory and applications to explain the dynamics of conflict. Uses an economic approach to solving environmental problems; students will research, analyze and report on environmental public policy issues.
Continues the statistical methodology developed in Introduction to Statistics (MATH 232). Topics include interval estimation, hypothesis testing, analysis of variance, correlation analysis, simple linear and multiple regression, nonparametric testing, and design of experiments with specific application to problems in business and economics. Students' development of analytical skills enhanced by use of statistical software.
Studies the application of economic theory to decision-making problems in the private and public sectors, including both explicit and implicit constraints imposed by the environment on the decision-maker. Systematic development of the theory of the interaction of consumers, firms and industries; a study of market structure, conduct and performance; and capital budgeting.
Examines globalization, economic, political, social, and ecological factors that shape the international market. Specific topics include financial market integration, case studies of individual countries, environmental issues, labor migration, integration across borders of the markets in goods and the factors of production and the consequences of these trends. Emphasis will be placed on the role of government policies in affecting economic outcomes and business conditions.
Considers the economic aspects of cultural and other events and activities on local communities and geographic regions, especially as they impact tourism and quality of life. Looks at how cultural goods are valued in both economic and cultural terms. Examines the role of culture and tourism in regional economic development. Analyzes current public policy toward cultural venues at federal, state and local levels in the United States and abroad.
Covers fundamental concepts of modern business analytics by emphasizing application of managerial statistical tools related to descriptive analytics, predictive analytics, and prescriptive analytics. Topics covered include data visualization, data mining, spreadsheet Modeling, statistical inference, time series analysis, forecasting, risk analysis, Monte Carlo simulation, linear optimization, among others.
Studies a specific topic in economics for the purpose of encouraging advanced work and research in a field of interest. Content will be identified by subtitle.
Open to juniors and seniors who wish to study a topic in depth. Final reports and frequent conferences with advisor are required. Enrollment requires individual application and department approval.
Entrepreneurship Courses
Develops entrepreneurial skills through the integration and application of Design Thinking, Systems Thinking, and Lean Canvas. Working in small groups, students gain an understanding of social entrepreneurship through the application of these tools to identify, refine, and present viable solutions to contemporary challenges facing communities.
Provides a structured environment in which students identify and pursue social entrepreneurship opportunities from the framework of their choice (Design Thinking, Lean Canvas, and Conventional Project Management). Each class will focus on the student's development of a specific aspect of their business plan. Intended for Entrepreneurial Studies minors.
Finance Courses
Provides an introductory survey of the field of finance. Examines the agents, instruments, and institutions that make up the financial system of the modern economy, such as bonds, the stock market, derivatives, and the money market. Students are introduced to the standard concepts and tools of financial statement analysis, time value of money, and the efficient markets hypothesis.
Provides an introductory but comprehensive study of the major aspects of personal investing. Topics covered include investment goals and strategies, risk/return assessment, individual stock investing - fundamental and technical analysis, bonds, stock mutual funds (various types/objectives), global investing, money market mutual funds, the New York Stock Exchange/financial markets and institutions, accessing investment information and analysis on the Internet, online investing. No prior business courses are required or necessary.
Examines the relationships among risk, return and value in a financial context as tools for the analysis of capital structure and budgeting decisions, and the evaluation of leasing proposals. Covers the basic theoretical financial models in detail.
Studies the acquisition and administration of funds in today's corporation. Topics include shareholder wealth maximization concepts, the globalization of financial markets, working capital, risk/return, alternative forms of short- and long-term funds, financial statements analysis, mergers and acquisitions.
Investigates the financial systems of the U.S. European Union, and emerging economies. Emphasizes how economic institutions reflect the diversity of world cultures, including major financial institutions, monetary theory, interest rates and the structure and role of the Federal Reserve. Issues include economic, social, political and cultural integration of industrialized vs. Third World countries.
Examines the theoretical and practical implications of economics and finance in sports. Basic theories in finance and economics are applied to managerial control of sport organizations. Includes financial analysis, feasibility studies, and economic impact studies of sport teams and venues. Examines microeconomic decisions made by sport consumers, players and managers, owners and venue governing bodies.
Financial Modeling introduces students to the use of financial modeling for business decisions. Students will apply common spreadsheet modeling techniques in a variety of applications for investment analysis, company valuation, forecasting, and business decision making.
Introduce students to the various governmental and regulatory bodies that create and enforce laws and regulations that impact the strategic direction and legal risk associated with various industries, including financial services, accounting, human resources, marketing, and general business risk. Examines the impact of risk and regulation on strategic planning, and develop compliance and oversight strategies to mitigate emerging risks.
Examines the relationships among risk, return and value in a financial context as tools for the analysis of capital structure and budgeting decisions, and the evaluation of leasing proposals. Covers the basic theoretical financial models in detail.
Leadership Courses
Describes and compares major leadership theories along with current applications and case examples. Also examines issues of ethics, power, teams and women in leadership. Each student will be involved in a service/leadership and reflection experience throughout the semester which will develop their leadership skills, and identify the student's own leadership philosophy and style.
Explores leadership, civic participation, and effective teamwork by engaging in a high-impact community service project of their choosing. Examine and experience the intersection and relationship of leadership and civic involvement. Utilizes and applies the Relational Leadership Model (RLM) when engaging in teamwork and the service project, which focuses on relational development, diversity of experiences, building team/community, inclusivity and identity and social justice.
Engages students in leadership and/or service experiences either on or off campus and meets weekly for instructor-led supervision, which comprises the presentation of selected reading topics (e.g. team building) and reflection activities (e.g. journal discussion) in a small group setting.
Offers students field experience that actively and extensively draws upon the leadership concepts, principles, and skills. The internship must include a strong writing component in which the student interprets their field experience with reference to their leadership.