Business Students Excel Nationally
Students in Baker's business policy class placed in the top 9% nationally on the ETS Major Field Test for business majors. Senior Eric Hendricks scored in the top 3%. Read More
Alan Grant, professor of business and economics, won the Economist Educators Best in Class Teaching Award, which honors innovative teaching at the introductory level. Read More
Students are encouraged to pursue research and present it at the Missouri Valley Economics Association.
Students in the Baker Organization Observation for Knowledge (BOOK) program research the organizations where they serve as interns and then present their experience before judges who award a cash prize. Read More
A degree in business, accounting, economics or international business will prepare you to join the workforce or to pursue an advanced degree in business or law school.
Lowell Jacobsen, Rhodes Professor of International Business, received the Mike Wood Presidential Citation of Merit in recognition of his service to the International Relations Council. Read More
World-class faculty, top students and an innovative curriculum are the hallmarks of Baker's Business and Economics Department.
EC 111 - Economic Analysis of Social Issues 3 hrs.
Economic forces lie at the root of many social problems. Furthermore, many social problems arise because of the incompatibility of individual incentives and social outcomes. Students in this course will be encouraged to think about everyday events in an economic fashion. This course begins by developing in the student a few fundamental tools of economic analysis and continues on to apply those tools to current problems discussed in economics as well as other academic disciplines, paying particular attention to the role of government in solving or creating social problems.
EC 151 - Applied Game Theory 3 hrs.
This course examines strategic choice problems by introducing students to solution techniques for sequential and simultaneous games, development of pure and random strategies, and the concept of equilibrium. We will then apply our solution techniques to problems within economic, social, political, and biological sciences including coordination and collective action problems, voting strategies and coalitions, and the process of evolution. Prerequisite: An ACT math score of 20 or above, or MA 090 with a C or better.
EC 242 - Principles of Economics: Micro 3 hrs.
This course is an introduction to economic analysis of market economies. Topics include scarcity and choice, price and output determination, market power, and wages and employment. Evaluating the effects of government policies is emphasized. Prerequisite: An ACT math score of 20 or above, or MA 090 with a C or better.
EC 243 - Principles of Economics: Macro 3 hrs.
This second course in the principles sequence studies how total economic output (gross domestic product), price levels, and employment are determined and the impacts of fiscal policy, monetary policy, and international developments. The economic functions of money and financial markets are introduced. Prerequisite: EC 242.
EC 344 - Money and Financial Institutions 3 hrs.
The first half of this course studies the role of money and financial markets in a capitalist economy, including the money supply process. The second half covers monetary theory and aggregate price and output determination. Prerequisites: EC 242 and 243.
EC 346 - Managerial Economics 3 hrs.
This course is designed to allow students to improve their economic reasoning skills. Microeconomic theory is taught by application to real-world economic problems. Prerequisite: EC 242.
EC 347 - International Trade 3 hrs.
This course addresses both the economic theory and government policy of trade. Important concepts and issues include comparative advantage, factor endowments, fairness vs. efficiency, and trade policy instruments, including subsidies and tariffs. Prerequisite: EC 242 and 243.
EC 348 - Comparative Economic Systems 3 hrs.
International differences in economic systems are studied. Special emphasis is placed on comparisons of differing versions of capitalist systems as they have developed in Europe, Asia, and North America. Attention is also directed to underdeveloped and transitional economics in East-Central Europe, Latin America, and Southeast Asia. Pre requisites: EC 242 and 243.
EC 360 - Labor Economics and Industrial Relations 3 hrs.
This course is an economic analysis of labor markets and institutions. Microeconomic concepts of labor supply and demand are applied to the determinants of wages and employment, the economic impacts of trade unions, welfare policies, occupational safety and health regulations, discrimination and comparable worth policies, and the economics of pensions and fringe benefits. Prerequisite: EC 242.
EC 381 - Corporate Finance 3 hrs.
This course is an introduction to corporate finance. Most of the class covers the theory and practice of asset valuation and pricing, with applications to the long-term investment decision. The implications of capital structure decisions will be evaluated. Prerequisites: AC 141 and EC 242. Not available for credit toward the Accounting, Business, or International Business majors. (Cross-listed as BS 381.)
EC 400 - Applied Econometrics 3 hrs.
Quantitative methods for economic research are introduced in this class. The primary focus is on testing empirical issues with multiple regression techniques. The classical least squares model is presented and applied using PC software packages. This course emphasizes understanding when to apply regression techniques, interpretation of statistical results, and sources of potential biases. Prerequisites: EC 242 or 243; and MA 321.
EC 450 - Industrial Organization 3 hrs.
This seminar examines the ways firms and markets are organized, exploring how various types of market structures affect firm behavior, and, in turn, how firm behavior affects the structure of markets. Topics include entrepreneurship, small vs. large firms, mergers and acquisitions, shareholders vs. stakeholders, and the ethics of competition. Prerequisite: EC 242.
EC 463 - International Finance 3 hrs.
A macroeconomic approach to the study of global markets is taken in this course. Specific topics and concepts examined include balance of payments, exchange rate systems, the World Bank, the IMF, international banking, and the European Union. Prerequisites: EC 242, EC 243, and BS 381. (Cross-listed as BS 463.)
EC 464 - Intermediate Macroeconomics 3 hrs.
This class studies theories of the business cycle and inflation. Differences between Keynesian, classical, neo-Keynesian, and real business cycle models are studied, and implications for macroeconomic policy are derived. Prerequisite: EC 243.
EC 295, 495 - Special Topics 1 - 3 hrs.
Offered periodically, the course will be determined by student interest and need.
EC 499 - Independent Study 1 - 3 hrs.
This course is arranged between the instructor and student. Prerequisite: Department chair approval.