Business Economics provides students with an introduction to the key concepts of economics as it pertains to business—supply, demand, profit, costs, and markets—and differentiates micro-economics from macroeconomics. It discusses the American economy and the factors that influence the success of businesses and products. The course describes forms of business ownership and discusses the relationship of labor and business, then provides a broad overview of the global economy.
Managerial Accounting introduces the fundamentals of management accounting, including manufacturing and cost accounting, budgeting, accounting for managerial decision-making, and financial statement analysis. Students learn how to use accounting information for internal decision-making and planning and control. Regardless of the career path they choose, this course gives students the financial acumen necessary to make informed personal and business decisions.
Principles of Accounting
Principles of Accounting provides students with an understanding of the accounting process and how it facilitates decision making by providing data and information to internal and external stakeholders. Students learn that accounting is an integral part of all business activities. They learn how to apply technology to accounting by creating formulas and inputting data into spreadsheets. Students also examine career opportunities and the professional certifications and designations earned by individuals in the accounting profession.
Financial Services provides students with an overview of banks and other financial services companies. The course begins by introducing students to the origins of money and banking. Then students examine the early history of banking in the U.S. Students move into an in-depth study of the financial services industry and explore the types of companies that make up this industry. Students learn about the services offered by such companies and analyze the ways these companies earn profits. This course also introduces students to the main concepts behind investing and discriminates among different ways to invest money. Students examine contemporary issues including the level of personal saving in the United States, ethics in the financial services industry, and the industry’s effect on communities and families.
Principles of Finance
Principles of Finance gives students a thorough introduction to the concepts, tools, and institutions of finance and serves as a foundation for the core courses offered by the Academy of Finance. Principles of Finance begins with the basics of financial literacy and the function of finance in society. Students then study income and wealth, including budgeting, personal banking, credit and borrowing, and planning for retirement. Next, students examine financial institutions and the role of finance in organizations. They learn about common methods by which businesses raise capital—IPOs, selling stocks and bonds, and short-term financing—and study key investment-related terms and concepts, including the time value of money. Students also explore specific topics of importance in today’s world of finance, risk management, taxes, and ethics. They research how technological and international innovations have changed the financial services field.
The Insurance course introduces students to the insurance industry and to the critical role it plays in the financial services sector and in society as a whole. This course covers the purpose and uses of the most common types of insurance, including life, health and disability, property, liability, and various forms of commercial insurance. Students use the foundational information gained in Principles of Finance to deepen their understanding and explore new insurance concepts. Students examine the business model underlying the industry and the role that underwriting, actuarial science, and investment practices have on determining an insurance company’s financial success. Students take an in-depth look at the individual components of an insurance contract or policy, including concepts such as covered perils, exclusions, riders, declarations, and conditions. Finally, the course examines the different career opportunities available in the field, including underwriter, claims adjuster, and agent.
Entrepreneurship provides students with an understanding of the critical role played by entrepreneurs in the national and global economy. Students learn not only the skills necessary to become entrepreneurs, but also the attitudes, characteristics, and techniques found in successful entrepreneurs that students will need to succeed. Building on concepts that were introduced in Principles of Finance, the Entrepreneurship curriculum approaches student learning experientially by encouraging students to evaluate, develop, and work with the business ideas they already have or those they conceive during the course.