2007-08 Academic Catalog	home FAQs request

BUSINESS, ACCOUNTING AND ECONOMICS

— Also see International Business
— Also see Management Information Systems

Programs offered:

• Major in Accounting (12.0 course credits)
• Major in Healthcare Management (11.0 course credits) 
  Certificate programs: 
–  Healthcare Administration 
–  Healthcare Financial Management 
–  Long-Term Care Administration with eligibility for licensure
• Major in International Business (see international business) (15.0 to 19.0 course credits)
• Minor in International Business (see international business) (6.0 to 14.0 course credits)
• Major in Management (12.0 course credits)
• Major in Marketing (12.0 course credits)
• Major in Business (10.0 course credits)
• Major in Business with Management Information Systems emphasis (see management information systems)  (10.0 course credits for the major plus 5.0 to 6.0 additional course credits)
• Minor in Business (5.0 course credits)
• Major in Economics 
–  Business Economics Track (12.0 course credits) 
–  Finance Track (12.0 course credits)
• Major in Economics with Management Information Systems emphasis (see management information systems)  (12.0 course credits for the business economics track major plus 9.0 to 10.0 additional course credits; 12.0 course credits for the finance track major plus 7.0 to 8.0 additional course credits)
• Minor in Economics (5.0 course credits)
• Business Education major with a teaching license, grades 5-12 (see education: interdisciplinary programs for secondary education) (10.5 course credits plus 8.0 course credits in education)
• Social Studies Education major with a teaching license, grades 5-12 (see education: interdisciplinary programs for secondary education) (13.0 course credits plus 8.0 credits  in education)
• Social Studies Area of Specialization for Elementary Education majors, grades 5-8 (see education) (5.0 course credits)

Business, Accounting and Economics Course Descriptions 

Faculty
Ronald G. Twedt, chair
Bruce C. Anderson, director, healthcare administration program
Daniel V. Anderson, director, long-term care administration and healthcare financial management programs
Robert K. Foss
Gregory J. Garber
Thomas W. Hiestand
Linda C. Keup
James R. Legler, director, Center for Ethical Leadership
James Specht
Scot A. Stradley
Odile J. Streed

The department of business, accounting and economics offers several majors. Each major has its unique requirements, but all majors are based on the liberal arts. This means that our majors are built on a solid foundation in the social and natural sciences, especially scientific method. This is combined with an ongoing emphasis in ethics. The faculty expects students to acquire competence in these fundamental disciplines before enrolling in upper- division business courses. Because the department is within a college of the Evangelical Lutheran Church in America, it expects students to be ready to integrate faith and learning. The department seeks to assist students in achieving their best in written and oral communication, research skills, and analytical skills. Moral, ethical and legal issues in business, accounting, management, marketing, finance, healthcare, business education and economics are developed. The department’s mission includes supplying moral and ethical leaders to the private and public sectors. The Center for Ethical Leadership assists in this mission.

The business, accounting and economics department provides learning experiences that prepare students to achieve the following outcomes:

• understand the core concepts of the departmental disciplines of business, accounting and economics
• be able to access, analyze, and interpret relevant and appropriate information specific to their major discipline
• be able to communicate effectively in a variety of business settings
• be able to integrate their faith and moral viewpoint into an articulated professional ethic and understand the ethical implications of decisions and actions in their specific discipline

Major in Accounting

The major in accounting prepares students in general accounting principles so that they can prepare, interpret and analyze financial statements of businesses, not-for-profit organizations and government institutions. It also provides entry-level knowledge for students interested in auditing and taxation careers. This requires preparation in core areas such as auditing, cost accounting, taxation and business law. Students will become familiar with the diversity of transactions each of these organizations can experience.

The requirements for a major in accounting are 12.0 course credits:

• ACCT 155 — Principles of Accounting I, 1.0 credit
• ACCT 156 — Principles of Accounting II, 1.0 credit
• ECON 201 — Principles of Economics, 1.0 credit
• BUS 303 — Managerial Finance, 1.0 credit
• ECON 274 — Introduction to Business and Economic Statistics, 1.0 credit
• ACCT 355 — Intermediate Accounting I, 1.0 credit
• ACCT 356 — Intermediate Accounting II, 1.0 credit
• BUS 362 — Business Law, 1.0 credit
• ACCT 366 — Cost Accounting, 1.0 credit
• ACCT 368 — Tax Accounting, 1.0 credit
• ACCT 369 — Auditing, 1.0 credit
• ACCT 454 — Advanced Accounting, 1.0 credit

Electives

• ACCT 380 — Accounting Information Systems, 1.0 credit
• ACCT 390 — Cooperative Education, 0.5 to 2.0 credits
• ACCT 480 — Independent Study, 0.25 to 1.0 credit

Accounting majors are also encouraged to consider ACCT 390 — Cooperative Education (internship) during their time at Concordia, for which they can earn up to 2.0 course credits. This experience will not count toward course requirements for the accounting major, but will make students better prepared to compete for positions in the accounting profession and does count for the 150-hour requirement. Students can also take ACCT 480 — Independent Study to augment their accounting study. Ideally, these courses are tailored to students’ interests and go beyond the topics of required courses. Some examples of past Independent Study courses are Fraud Investigation, Forensic Accounting, Balanced Scorecard, and Legal Environment of Business. As with ACCT 390, these courses do not count toward course requirements for the accounting major.

150-Hour Education Requirement for Certified Public Accountants

All graduates of accounting programs will be required to meet the Minnesota or North Dakota 150-hour requirement if they desire certification (licensure) to practice as a certified public accountant in those states. This education requirement does not relate to general accounting positions or to most governmental accounting positions. Since the certification (licensure) requirement only specifies that graduates applying to be CPAs must have the equivalent of five years of education, various “fifth year” options exist. To meet the “fifth year” requirement, Concordia students need six (6) credits above the 31.5 required to graduate.

Fifth Year Experiences for Accounting Students

In partnership with the University of St. Thomas (St. Paul, Minn.), Concordia accounting students will be given priority enrollment in the University of St. Thomas’ Master of Science in Accountancy Program. This master’s program would begin in July after Concordia’s May graduation and would be completed by June of the following year (11 months). This program consists of 31 semester hours of graduate course work, with a guaranteed paid internship with a firm in the Twin Cities during the second semester. Students may also wish to pursue graduate study, such as an M.B.A. or Master’s in Accounting degree, at other graduate schools. As with the University of St. Thomas program, this could satisfy the 150-hour requirement while developing a deeper understanding of accounting and earning a graduate degree. Accounting students can also decide to stay on Concordia College’s campus and obtain additional breadth in accounting-related areas, such as a minor in finance, computer science, or a double major in accounting and business, or other business disciplines. Internships are available locally, as well as in Minneapolis and other larger cities, for those students who wish to apply their accounting knowledge in the work place. Another option would allow accounting students to double major in international business, with a minor in a foreign language, and study in France, Germany, Norway or Mexico City during the second semester of this fifth year. Internships are also available at these foreign sites. There are many other options that may satisfy the 150-hour requirements for licensure and meet the interests and goals of individual students. Also, other states have 150-hour requirements that differ slightly from Minnesota’s. Accounting students should discuss their plans with an adviser from the accounting faculty to be certain they have explored the various options thoroughly and made choices that match well with their interests.

Major in Healthcare Management

The healthcare management major provides a specialized base of knowledge for managing a variety of healthcare facilities including hospitals, clinics and long-term care facilities. The program consists of a combination of classroom study as well as a practicum experience in a healthcare facility during the student’s final two years of college.

The requirements for a major in healthcare management are 11.0 course credits:

• 4.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ACCT 156 — Principles of Accounting II, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  BUS 339 — Principles of Management, 1.0 credit
• 4.0 course credits in healthcare management core courses:
–  BUS 307 — U.S. Healthcare Delivery, 1.0 credit
–  BUS 341 — Human Resource Management, 1.0 credit
–  BUS 386 — Nursing Facility Services, Programs and Issues, 1.0 credit
–  BUS 470 — Healthcare Financial Management, 1.0 credit
• 3.0 course credits from the following courses:
–  ACCT 355 — Intermediate Accounting, 1.0 credit
–  ACCT 366 — Cost Accounting, 1.0 credit
–  BUS 323 — Healthcare and Medical Needs, 0.5 credit
–  BUS 328 — Information Uses in Healthcare Organizations, 0.5 credit
–  BUS 351 — Principles of Marketing, 1.0 credit
–  BUS 376 — Public Health, 0.5 credit
–  BUS 377 — Healthcare Law, 0.5 credit
–  BUS 475 — Healthcare Administration, 1.0 credit
–  BUS 486 — Long-Term Care Regulatory Management, 1.0 credit
–  BUS 490, 491 or 492 — Practicum, 1.0 credit
–  BUS 415 — Management Information Systems, 1.0 credit
–  ECON 274 — Introduction to Business and Economic Statistics, 1.0 credit
–  SOC 351 — Aging in Society, 1.0 credit

Certificate Programs and Licensure Eligibility in Healthcare Management

Students majoring in healthcare management may apply for acceptance into any of three certificate programs:

• Healthcare Administration Program Certificate (11.0 course credits)
• Healthcare Financial Management Program Certificate (12.0 course credits)
• Long-Term Care Administration Program Certificate (12.0 course credits)

Applications should be made to the program directors. Upon graduation the student will receive a certificate if they have completed the appropriate courses for the program. Program directors will advise students about certificate requirements. Courses in the long-term care management program lead to eligibility to sit for the Minnesota State Nursing Administrator’s licensure examination. The Concordia College Long-Term Care Administration Program is accredited by the Minnesota Board of Examiners for Nursing Home Administrators.

Major and Minor in International Business
(see international business)

The international business major (15.0 to 19.0 course credits) and minor (6.0 to 14.0 course credits) are available in four different areas of specialization:

• Economics
• Finance
• Management
• Marketing

In addition, each major and minor is available with a world languages option (French, German, Scandinavian studies/Norwegian, Russian or Spanish) or an English language option.

Major in Management

Requirements for the major in management are 12.0 course credits.
Students must take foundation courses before required management courses or elective management courses.

• 5.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ACCT 156 — Principles of Accounting II, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  ECON 274 — Introduction to Business and Economic Statistics, 1.0 credit
–  BUS 339 — Principles of Management, 1.0 credit
• 4.0 course credits in required management courses:
–  BUS 303 — Managerial Finance, 1.0 credit
–  BUS 351 — Principles of Marketing, 1.0 credit
–  BUS 362 — Business Law, 1.0 credit
–  BUS 425 — Ethical Behavior in Business and Organizations, 0.5 credit
–  BUS 426 — Strategic Management (Capstone), 0.5 credit
• At least 1.0 course credit in the following elective management courses:
–  BUS 341 — Human Resource Management, 1.0 credit
–  BUS 439 — International Management, 1.0 credit
–  BUS 462 — Leadership, 1.0 credit
–  BUS 476 — Entrepreneurship, 1.0 credit
–  BUS 390 — Cooperative Education, 1.0 credit
• 2.0 additional course credits:
–  MATH 121 — Calculus I, 1.0 credit OR MATH 203 — Mathematics for the Behavioral Sciences, 1.0 credit
–  C SC 104 — Software Applications for Business, 1.0 credit

Major in Marketing

Requirements for the major in marketing are 12.0 course credits.
Students must take foundation courses before required marketing courses or elective marketing courses.

• 5.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ACCT 156 — Principles of Accounting II, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  ECON 274 — Introduction to Business and Economic Statistics, 1.0 credit
–  BUS 339 — Principles of Management, 1.0 credit
• 2.5 course credits in required marketing courses:
–  BUS 351 — Principles of Marketing, 1.0 credit
–  BUS 362 — Business Law, 1.0 credit
–  BUS 425 — Ethical Behavior in Business and Organizations, 0.5 credit
• At least 2.5 course credits in the following elective marketing courses:
–  BUS 352 — Selling Today, 0.5 credit
–  BUS 363 — Marketing on the Internet, 0.5 credit
–  BUS 452 — International Marketing, 1.0 credit
–  BUS 453 — Consumer Behavior, 1.0 credit
–  BUS 463 — Marketing Research, 1.0 credit
–  BUS 250 — Pre-May Seminar — China, 0.5 credit
–  BUS 300 — May Seminar — China, 1.0 credit
–  BUS 390 — Cooperative Education, 1.0 credit
• 2.0 additional course credits:
–  MATH 121 — Calculus I, 1.0 credit OR MATH 203 — Mathematics for the Behavioral Sciences, 1.0 credit
–  C SC 104 — Software Applications for Business, 1.0 credit

Major in Business

This 10-course major in business offers an introduction to business that students planning to make business a second major may find useful. Students desiring more depth in the business major should consider other majors in the business, accounting and economics department.

Requirements for the major in business are 10.0 course credits.
Students must take foundation courses before required business courses or elective business courses.

• 4.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ACCT 156 — Principles of Accounting II, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  ECON 274 — Introduction to Business and Economic Statistics, 1.0 credit
• 3.0 course credits in required business courses:
–  BUS 303 — Managerial Finance, 1.0 credit
–  BUS 339 — Principles of Management, 1.0 credit
–  BUS 351 — Principles of Marketing, 1.0 credit
• At least 1.0 course credit in the following elective business courses:
–  BUS 462 — Leadership, 1.0 credit
–  BUS 476 — Entrepreneurship, 1.0 credit
–  BUS 390 — Cooperative Education, 1.0 credit
–  BUS 415 — Management Information Systems, 1.0 credit
–  A course from another department with significant business content and approval of the business, accounting and economics department chair is required.
• 2.0 additional course credits:
–  MATH 121 — Calculus I, 1.0 credit OR  MATH 203 — Mathematics for the Behavioral Sciences, 1.0 credit
–  C SC 104 — Software Applications for Business, 1.0 credit

Major in Business with Management Information Systems Emphasis
(see management information systems)

The requirements for a major in business with a management information systems emphasis are 10.0 course credits in the business major with an additional 5.0 to 6.0 course credits from computer science. All courses required for the emphasis are listed on the management information systems pages of the catalog.

Minor in Business

The requirements for a minor in business are 5.0 course credits:

• 3.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  BUS 339 — Principles of Management, 1.0 credit
• 2.0 course credits from 300- and 400-level courses in the department, at least one of which must be a BUS course

Major in Economics

The economics major offers two tracks: business economics and finance. Students must take foundation courses before required economics courses or elective economics courses.

Business Economics Track

The requirements for a major in economics, business economics track, are 12.0 course credits:

• 3.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  ECON 274 — Introduction to Business and Economic Statistics, 1.0 credit
• 2.5 course credits in required economics courses:
–  ECON 252 — Public Policy Analysis, 0.5 credit
–  ECON 301 — Intermediate Microeconomic Theory, 1.0 credit
–  ECON 302 — Intermediate Macroeconomic Theory, 1.0 credit
• 4.5 course credits from the following elective economics courses:
–  ECON 333 — International Economics, 0.5 credit
–  ECON 335 — Economic History of the World Economy, 0.5 credit
–  ECON 441 — Money, Banking, and Financial Markets/Institutions, 1.0 credit
–  BUS 303 — Managerial Finance, 1.0 credit
–  ECON 312, SOC 312 — Global Development Issues, 1.0 credit
–  ECON 320 — Energy, Environment and Economics, 1.0 credit
–  BUS 460, MATH 335, C SC 335 — Operations Management/ Research, 1.0 credit
–  ECON 480 — Independent Study, 1.0 credit
• 2.0 additional course credits:
–  MATH 121 — Calculus I, 1.0 credit
–  C SC 104 — Software Applications for Business, 1.0 credit

Finance Track

The requirements for a major in economics, finance track, are 12.0 course credits:

• 5.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  ECON 274 — Introduction to Business and Economic Statistics, 1.0 credit
–  ECON 301 — Intermediate Microeconomic Theory, 1.0 credit
–  ECON 302 — Intermediate Macroeconomic Theory, 1.0 credit
• 2.0 course credits in required finance courses:
–  ACCT 156 — Principles of Accounting II, 1.0 credit
–  ECON 303 — Managerial Finance, 1.0 credit
• 3.0 course credits from the following elective finance courses:
–  BUS 304 — Investments, 0.5 credit
–  BUS 403 — International Finance, 1.0 credit
–  BUS 404 — Security Portfolio Analysis, 1.0 credit
–  BUS 441 — Money, Banking, and Financial Markets/Institutions, 1.0 credit
• 2.0 additional course credits:
–  MATH 121 — Calculus I, 1.0 credit OR MATH 203 — Mathematics for the Behavioral Sciences, 1.0 credit
–  C SC 104 — Software Applications for Business, 1.0 credit

Major in Economics with Management Information Systems Emphasis
(see management information systems)

The requirements for a major in economics, business economics track, with a management information systems emphasis are 12.0 course credits in the business economics track with an additional 9.0 to 10.0 course credits from computer science.

The requirements for a major in economics, finance track, with a management information systems emphasis are 12.0 course credits in the finance track with an additional 7.0 to 8.0 course credits from computer science. All courses required for the emphasis are listed in the management information systems pages of the catalog.

Minor in Economics

The requirements for a minor in economics are 5.0 course credits:

• 3.0 course credits in foundation courses:
–  ACCT 155 — Principles of Accounting I, 1.0 credit
–  ECON 201 — Principles of Economics, 1.0 credit
–  ECON 301 — Intermediate Microeconomics, 1.0 credit OR ECON 302 — Intermediate Macroeconomics, 1.0 credit
• 2.0 course credits from 300- and 400-level courses from the required economics courses or elective economics courses.

Business Education Major with a Teaching License, Grades 5-12

To be eligible to complete this major, the student must be admitted to the teacher education program.
The requirements for a business education major with a teaching license, grades 5-12, are 10.5 course credits plus 8.0 course credits in education:

• ACCT 155 — Principles of Accounting I, 1.0 credit
• ACCT 156 — Principles of Accounting II, 1.0 credit
• ECON 201 — Principles of Economics, 1.0 credit
• IBUS 210 — Introduction to International Business, 0.5 credit
• C SC 104 — Software Applications for Business, 1.0 credit
• BUS 303 — Managerial Finance, 1.0 credit
• ENG 316 — Writing for the World of Work, 1.0 credit
• BUS 339 — Principles of Management, 1.0 credit
• BUS 351 — Principles of Marketing, 1.0 credit
• BUS 362 — Business Law, 1.0 credit
• BUS 415 — Management Information Systems, 1.0 credit
• Successful completion of the secondary/K-12 curriculum requirements. The required methods of teaching course is EDUC 373 — Methods of Teaching in Business Education, 1.0 credit.
• EDUC 299 — Keyboarding Proficiency, no course credit, must also be completed concurrently with EDUC 373.