Business and economics courses

(4 credits) This course covers the basic introduction to financial management and financial accounting, including an understanding of the concepts, principles and practices in these areas.

(3 credits) This course covers the basic concepts, principles and practice in managerial accounting, including the use of accounting in management decision- making. Prerequisite: ACC215.

(3 credits) This course involves the study of cost systems and their use in decision-making by management. Emphasis is placed on the areas of cost-volume-profit analysis, job-order and process costing systems, budgets and standards, cost allocation and capital budgeting. Prerequisites: ACC215 and 216.

(4 credits) This is an introduction to current federal and state taxation laws and practices. The emphasis is on the federal income tax and its impact on accounting procedures and management decision-making. Prerequisites: ACC215 and 216, or permission of chair of the business department.

(2 credits) This course provides coverage of accounting and reporting standards for not-for-profit organizations and state and local governments. It includes accounting for hospitals, college and universities, voluntary health and welfare organizations, and others. Coverage will also be provided for governmental, propriety and fiduciary type funds used in governments. Prerequisites: ACC215 and ACC216 or permission of instructor.

(4 credits) This course is a study of the development of accounting principles and practices as they apply to financial statements. Emphasis is placed on the development of the theory used in accounting practice. Prerequisites: ACC215 and 216.

(4 credits) This course is a continuation of the accounting principles and practices covered in Intermediate Accounting I. Special emphasis is on stockholder's equity and dilutive securities, special issues related to income measurement, and preparation and analysis of financial statements. Prerequisite: ACC315.

(4 credits; alternate years, consult department) This course studies the internal control procedures in modern business, the development of auditing standards and procedures, the theory behind the development of such auditing standards and procedures, and how these auditing standards and procedures are applied to the public accountancy field. Special emphasis is on the auditor's decision-making process. Prerequisites: ACC315 and 316, or permission of chair of the business department.

(2 credits may apply toward the major)

(4 credits; alternate years, consult department) This course is a study of accounting for partnerships, business combinations, affiliated companies, government entities and nonprofit organizations. Prerequisites: ACC315 and 316, or permission of chair of the business department.

(1 credit) This course will be a comprehensive review of material for the CPA exam, using a computerized review package. Prerequisites: ACC415 and 418, or permission of the instructor.Note: Graded on a pass/no pass basis.

(4 credits) (Writing intensive) This course is a continuation of Individual Income Tax and Business Law. This course will focus on the legal and tax differences between partnerships, LLC's, and the corporate business structure as well as how those differences impact management decision-making. Other topics covered may include federal regulation of business, estate planning and bankruptcy. Prerequisites: ACC307 and BUS321 or permission of instructor. Cross-Rerenced: Cross-referenced in business.

(2 credits) This course serves as the capstone to the accounting major at Northwestern College. Through readings, journals, papers and oral presentations, students will reflect on their learning and connect it to their life after college as an accountant. Senior accounting students will have the opportunity to evaluate their success in meeting the goals of NWCore,synthesize their curricular and co-curricular learning experiences, and articulate the distinctives of being a Christian accountant. Prerequisites: Senior status, ACC315 and ACC316 and in the last year at NWC; or permission of instructor.

(4 credits) This course will examine the foundational principles in livestock and crop production systems utilized in the Midwest. Basic cultural, management, scientific, and business principles used in the production of food and fiber will be covered. In addition, the course will incorporate agricultural safety and occupational hazards for developing competencies needed for the agricultural work site.

(1 credit) This course will provide practical work experience for students in the field of agricultural business. Prerequisite: AGR101.

(2 credits) (Writing intensive) Agribusiness Writing is an interdisciplinary writing course focused on the study and practice of written communication essential to success in the professional world. The course explores techniques and strategies specific to agribusiness writing through lectures, exercises, collaborative projects, and individual writing assignments. Prerequisites: Sophomore standing and two ACC, AGR, BUS, or ECO courses.

(4 credits) This course will provide exposure to many of the current technology advances utilized in modern agricultural production. Topics will include drones, global positioning systems, auto steer, variable rate technology, soil grid sampling, cloning, embryo transfer, robotic milking, laser cutting, and data analysis. This course will include numerous tours, demonstrations, and presentations. Prerequisite: AGR101.

(2 credits) This course will examine many of the current issues and ethical arguments facing the agricultural industry today. Topics will include livestock production practices, animal rights issues, genetically modified crops, organic foods, water quality issues, climate change, conservation, energy use, food safety, land acquisition, and government farm programs. Prerequisites: AGR101 and sophomore standing.

(4 credits) In this course, we will analyze and review commodity marketing, marketing costs, governmental regulations, marketing information sources, pricing, distribution, competition, and retailing. In addition to marketing, we will examine the risk factors on the production side of agricultural products. Prerequisites: AGR101 and ACC216.

(3 credits may apply toward the major). Prerequisite: approval by business department.

(2 credits) This course introduces students to marketing terminology; defines the elements necessary in moving a product, service or idea from concept to market sales; and enables students to understand and replicate the marketing process at an entry level.

(2 credits) This course introduces the student to the basic principles of management. It includes the understanding of manager's actions in the work place, on the organization and employees. It includes the study of basic management tools and techniques.

(2 credits) This course is an introduction to the field of project management. The main objective is to gain a basic overview of how project management is an art, a science, and a practice. Students will gain technical skills but even more importantly soft skills. Projects are about people, working with people, using skills like communication, working effectively in teams, interpersonal skills, time management, critical thinking, and organizational skills that are all highly valued by employers. The course will emphasize experiential learning and collaborative learning. Prerequisites: BUS200 or BUS201.

(2 credits) This course is a foundational course designed to inspire and engage students in dimensions that drive new ideas as well as the methods and tools to develop innovation and problem solving. Students will address practical problems associated with starting a business, including a feasibility analysis. The focus is to empower learning through entrepreneurial thinking and immerse students in experiences that will develop skills for new ventures. This course will be of value to students of all majors and requires no specialized knowledge.

(2 credits) The goal of this course is to provide the student with an introduction to the American legal system from a Christian perspective. Emphasis is placed on those topics which are particularly relevant to business and business transactions.

(1 credit) This course is a directed practicum in business for students and is by arrangement with instructor and on-site supervisor(s). The course will provide initial practical work experience in the field of business. Prerequisites: ACC215, BUS200 or BUS201.Note: Requires 25 clock hours of work experience. Graded on a pass/no pass basis. Course may be repeated one time.

(2 credits) This course covers the basic principles, theory and techniques of financial decision-making in the structure of a corporation. Prerequisites: ACC215 and ACC216; and either MAT109QR or MAT117QR.

(4 credits) Models of risk and return are carefully developed to provide a basis for assessing investment opportunities and to enhance our understanding of the role and importance of financial markets. A considerable portion of the course will be devoted to the pricing of derivative securities including options, forward contracts and futures contracts. Prerequisite: BUS300 or ACC315.

(4 credits, alternate years, consult department) This course will review the major historical and contemporary themes and phases of organizational theory and behavior. The class will examine and discuss the evolution and practice of the modern organization. The course will provide an understanding of the key concepts and principles of organization theory and behavior. This course will provide an opportunity for critical analysis of practical application of the concepts identified through the readings and lecture. Prerequisite: BUS201.

(3 credits, alternate years, consult department) This course is the study of the content, techniques, materials and theory for teaching business at the secondary level. This course requires a 30-hour practicum and is required of each candidate seeking an endorsement in this content area.Notes: Does not count toward a major or minor in business education, business administration, accounting or economics.

(4 credits) Students study the development of human resources management, including history, policies, practices and applications. Specific attention is paid to the study of the processes involving the management of human resources and its legal environment. Prerequisites: BUS201 or permission of instructor.

(2 credits; alternate years, consult department) This course invites students to explore the philosophy of servant-leadership, identify its characteristics, and discover its broad applications. The purpose of this course is to provide students with a deeper understanding of the paradox of being a servant-leader and to empower students to practice servant-leadership and to serve and love God's world. Prerequisite: Must be sophomore standing or higher. Cross-Referenced: Cross-referenced in Christian education and youth ministry.

(2 credits) (Writing intensive) Business Writing is an interdisciplinary writing course designed to provide instruction on writing skills relevant to the workplace. The course focuses on the practice and study of methods of written communication that are utilized in the professional world. This course explores techniques and strategies specific to business writing through in-class lectures and exercises, a group project, and individual writing assignments.Prerequisites: Sophomore standing and two ACC, AGR, BUS or ECO courses.

(4 credits) This course is designed to acquaint students with the legal principles which, when followed, allow business transactions to run smoothly and with predictability. The topics include contracts, agency and property law, plus criminal law, torts, the Uniform Commercial Code, the litigation process and alternatives to litigation. Both business and non-business students can benefit from this basic course on Anglo-American law.

(4 credits) This course integrates the theory, scope and practice of operations in industrial and service settings and the importance of supply chain management as a recent development in operations management. It includes the study of quality, lean management, supply chain management, capacity, scheduling, inventory control, logistics, forecasting and coordination. A strong emphasis is placed on practical and behavioral aspects of operations management. Prerequisite: BUS201.

(4 credits) This course will examine promotional and integrated communication strategies which include various marketing communication functions: sales promotion, personal selling, branding, event promotion, public relations, advertising, and interactive marketing. Students will learn to utilize this information in developing effective marketing communication strategies and programs. Prerequisite: BUS200.

(2 credits; alternate years, consult department) (Writing intensive) The course serves as an introduction to the art and science of fundraising. After completion, you will be familiar with the multiple facets of fundraising, including topics such as major gifts, planned giving, capital campaigns, direct response fundraising, grants, special events, online giving strategies, and how to make the ?ask?. The course will also cover the back office of fundraising, including moves management, creation of case statements, and fundraising planning.

(4 credits) This course is a study of the skills needed to develop and manage long-term relationships with customers and suppliers. Emphasis is placed on relationship selling, presentation, prospecting, handling objectives and closing techniques with consideration given to differences in the global marketplace. Prerequisite: Sophomore standing.

(4 credits) This course examines customer relationship management (CRM) and its application in marketing, sales, and service. Effective CRM strategies help companies align business process with customer centric strategies using people, technology, and knowledge. Companies strive to use CRM to optimize the identification, acquisition, growth and retention of desired customers to gain competitive advantage and maximize profit. Anyone interested in working with customers and CRM technology and would like to be responsible for the development of any major aspect of CRM will find this course beneficial. Prerequisite: Sophomore standing.

(4 credits) This course builds upon waterfall methodology of project management and considers advanced project management topics necessary for implementation of and excellence in project management. It provides students with experience using agile and hybrid project management methodologies. Students will explore the best practices in the management of international projects in terms of scope, schedule, cost, procurement, quality, resource, stakeholder, communication, and ethics. Prerequisite: BUS205

(4 credits) This course provides a framework for approaching, evaluating and implementing project risk principles to obtain optimal project results. Students will understand a variety of methods deployed in the project management industry to identify, manage, and respond to risks in projects, including a variety of components that integrate into a complete risk attitude and appetite for an organization. Prerequisite: BUS205

(3-5 credits; non-yearly, consult department) This is an upper-level course that will involve an international trip. Students will observe business principles as practiced in other countries. It will explore concepts from management, marketing, finance, and accounting, as well as economic implications. Tours of businesses in other countries will play a prominent role in this course. Prerequisites: Approved application and sophomore standing.Note: This course will not meet the NWCore requirements for Cross-Cultural Engagement.

(4 credits) This course offers students an extensive examination of leadership in organizations and provides a set of experiences that are designed to enhance self-awareness and capacity for effective leadership. As such, students will explore both how organizations function and leadership and followership choices within organizations. The coursework will allow individuals to begin to develop a vision of their leadership practice within a perspective of how organizations work in God's world. It will include an overview of issues related to organizational leadership, including the definition of organizations, theories of leadership, characteristics and behaviors of leaders as well as varying contexts under which leaders must perform. Prerequisites: Junior standing or permission of instructor.

(4 credits) This course presents and develops a process to follow in order to successfully navigate entrepreneurship. Students will expand upon their development of a business idea into an entrepreneurial firm and then learn how to manage and grow the firm. It also includes interaction with successful Christian entrepreneurs from a broad spectrum of businesses. Students will learn the theories of entrepreneurship, meet entrepreneurs who will share their journey, and focus on crafting their own business plan. Prerequisite: BUS210 and junior class standing.

(4 credits) This course explores the cultural, social, personal and psychological factors influencing buyer behavior; buying-decision processes and stages; and learning theory integrated with consumer beliefs and attitudes. Prerequisite: BUS200.

(4 credits) This capstone management major course is designed to assist students in analyzing and synthesizing the material covered in other courses throughout their studies along with integrating their faith with that of their business education. It focuses on an integrated approach to management decision-making using all of the functional areas of business with an emphasis on strategic thinking. Prerequisites: Completion of business core and senior class standing.

(4 credits) This course is a continuation of Principles of Finance. We will explore topics such as the cost of capital, capital structure and dividend policy, and analyze their significance in long-term financing decisions. We will also examine international aspects of corporate finance and the management of risk with derivative securities. Prerequisite: BUS300 or ACC315.

(4 credits) In this course, students learn to identify research needs, select research techniques, design research projects, develop research instruments and understand descriptive statistical methods. The goal is to equip them for reading, interpreting and conducting business research. Prerequisites: MAT116QR or MAT117QR, BUS200 and BUS205.

(4 credits) This course is designed to assist students in applying what they have learned in other courses to the international business environment. An emphasis on culture and the interconnections of management functions in global commerce provide an integrated approach to international management decision-making, using all of the functional areas of business. Prerequisites: junior or senior class standing.

(2 credits may apply toward the major)

(4 credits may apply toward the major) Domestic students (from the United States) are required to complete an internship in a country outside of the United States. This may be done in conjunction with a Semester Study Abroad when available. International students are required to complete an internship in a country that is not their home (passport issuing) country. For international students, this may be completed by working with a business involved in international trade that is located in the United States. Prerequisite: approval by department chair.

(4 credits) (Writing intensive) This course is a continuation of Individual Income Tax and Business Law. This course will focus on the legal and tax differences between partnerships, LLC's, and the corporate business structure as well as how those differences impact management decision-making. Other topics covered may include federal regulation of business, estate planning and bankruptcy. Prerequisites: ACC307 and BUS321 or permission of instructor. Cross-Referenced: Cross-referenced in accounting.

(4 credits) This course focuses on current theory and practice relating to starting and continuing management of small and family businesses. As such, it is designed for students contemplating management or ownership of a small business. The course will focus on leadership, decision-making, management, marketing, financial controls and other necessary processes to ensure the successful start-up and long-term health of the small business enterprise. It will include identifying the particularities of small business management, analyzing process and life cycle, focusing on growth, and taking an emphasis on total quality management. Prerequisites: junior standing.

(3 credits; alternate years, consult department) This is an advanced course in derivative markets. A basic understanding of derivative pricing as would be found in an undergraduate investments text is assumed. Topics will include binomial option pricing, the Black-Scholes-Merton model, Brownian motion and Ito's Lemma, and interest rate models. Material corresponding to the Society of Actuaries Exam MFE: Actuarial Models and Financial Economics will be covered. Prerequisites: MAT116QR or MAT117QR, MAT112QR, MAT211, BUS304 or permission of instructor.

(4 credits) Examines the historical development, organization and structure of the mass media in contemporary society, as well as related issues and problems. Suggests Christian perspectives on use of and participation in the mass media. Cross-Referenced: Cross-referenced in theatre/speech.

(4 credits) (Writing intensive) Students learn genres of writing for print and broadcast journalism and video, as well as for public relations and advertising. They learn these genres in relation to each other and in relation to their organizational contexts and audiences. Included are reporting, organizing and writing, as well as basic legal and ethical guidelines for reporters and writers in journalism and PR. Prerequisite: COM101x or permission of instructor.

(2 credits) This course introduces students to some of the basic equipment, aesthetic techniques and procedures used in creating short videos. Students will practice these skills through a series of projects, assessing how the techniques could be applied to their unique areas of study.

(2-4 credits; alternate years, consult department) An exploration of an area or genre of communication not adequately covered in the current curriculum. See the professor listed for details about the current topic.

(1 credit) Practical experience in public relations related projects such as publicity, promotions, employee and customer relations, special events, advertising, Web design, corporate research, grant writing, and human resources development and training. Project sites and sponsors may be campus departments and organizations, community businesses, and non-profit organizations. Prerequisites: completion of, or enrollment in, any of the following courses: COM230, 261, 263, 315, 332, 355, and ENG288, or permission of instructor.

(1 credit) Practical experience working on the campus newspaper, the Beacon, or the college yearbook, the Cornerstone. Prerequisite: students must be accepted for membership on one of these publications before signing up for the practicum. Note: Graded on a pass/no pass basis. Course may be repeated.

(2 credits) This class explores the ethical and legal judgments of media professionals both past and present in an attempt to reveal the process by which important communications decisions are made. By exploring the successes and failures of others, students will learn to hone their own decision-making skills. They will also learn how the law affects their field and ultimately the decision-making processes of members of the media. Finally, this course will show students there is no such thing as a universal ethic and that their own principles will not always agree with the principles of others. Students will come to understand the differences between secular ethical considerations and their own Christian values. Prerequisite: COM101.

(3 credits; alternate years, consult department) Introduction to the field of public relations. Its focus is on public relations theory and practice with an emphasis on emerging trends. This course is offered as an overview covering public relations history, theories, strategies and tactics.

(2 credits; non-yearly, consult department) Study of interviewing practices, research methods, organization, and interest-gathering techniques necessary for writing longer articles, profiles, columns and consumer affairs writing. Prerequisite: COM185WI or permission of instructor.

(3 credits) Covers basic principles of design as they apply to a wide variety of publications. Emphasis on selecting type, art and graphics appropriate to subject matter, purpose and audience.

(2-4 credits; alternate years, consult department) This course is designed to be an upper- level course providing in-depth and additional knowledge and/or skill in specific discipline areas that are not well covered in the current curriculum. Topics will vary according to students' interests and needs, changes and developments in the communication discipline and practice, and faculty skills and interest. Potential topics may include additional instruction in advertising, public relations, magazine writing, advanced news writing and editing, advanced video editing, digital video directing, and international and intercultural communication. Prerequisites: to be determined by department.

(3 credits; alternate years, consult department) Study of writing and design for a Web environment. Students will analyze Internet sites and design sites of their own, using a standard program for Web design. Prerequisites: ENG184 or equivalent and any of the following: COM263, ART220, ART230, or permission of instructor.

(3 credits, alternate years, consult department) The primary objectives of this course are knowledge integration and skills application. By conceiving, researching, creating, executing, and evaluating a comprehensive advertising communication plan that incorporates research, creative, media, and promotions, students will understand how various components work together to provide a client with a cohesive campaign that communicates their message. Students will give a formal oral presentation to their client that includes a usable campaign and all the creative materials needed to execute the campaign.

(4 credits, non-yearly, consult department) Principles of clear and forceful journalistic writing. Includes fact gathering, story planning, lead and head writing. Attention to editing for improved copy, headline writing, and selection of photographs and art work. Prerequisite: COM185WI or permission of instructor.

(4 credits; alternate years) Examination of the role of communication within and between organizations. Attention to communication tasks within an organization such as news releases, memo writing, conducting meetings, and communicating to an organization's constituencies.

(4 credits) This course is designed to further define the ethical practice of public relations, to reflect on the student's study of communications and the NWCore, to examine the student's role in the vocation of public relations, to provide experience in the research, design, presentation, and evaluation of a communications campaign for a client, and to examine individual and corporate responsibility to the greater world. There is considerable emphasis on writing and speaking. Prerequisites: COM185WI and COM230, COM263 or permission of instructor.

(4 credits may apply toward the major) Experience in an approved internship.

(4 credits) (NWCore option under Self and Society) What is the economy? What drives the boom and bust of the market? Why do people choose what they choose? How should I think about money? What is the role of our government? How do I view inequality? Every decision we make and everything we see in the modern society has something to do with economics. In this course, we will cover the ABC's of micro and macroeconomics that are most relevant to our everyday life. We will also learn a brief history of economic thought, and build our foundation on the Christian principles. Note: This course is not intended for business or economics majors.

(4 credits) Microeconomics deals with price determination and how the price system functions. Supply and demand, output, competition, monopoly, resource pricing, international trade and finance will be studied.

(4 credits) Macroeconomics concerns itself with economic aggregates such as inflation, unemployment, recessions, national debt, and income inequality international trades. Macroeconomic models will be introduced. These models will be used to understand the application of monetary and fiscal policy.

(4 credits) This course is designed to increase understanding of how banks and the banking system fit into the entire economic system. The functions of money, the federal reserve system, monetary theory, inflation and the international financial system will be taught. Prerequisites: ECO213 and 214.

(3 credits; non-yearly, consult department) This is an upper-level discussion course designed to require students to apply economic principles and policies to issues confronting economists in business and government. Both micro and macro concepts are explored. Controversial issues to be confronted include the extent of government involvement in the economy, energy, employment, inflation, deficits and world trade. Prerequisites: ECO213 and 214.

(4 credits; alternate years, consult department) Builds on the concepts of inflation, unemployment and economic growth learned in principles level macroeconomics. Introduces models with which the student will become more proficient in understanding how the economy works. Prerequisite: ECO214 and MAT111QR or 112QR.

(4 credits; alternate years, consult department) This course will examine economic theory and methodology with emphasis on the principles of price determination, consumer behavior, market equilibrium, optimality of resource allocation, production and costs, comparison of market structures, and the behavior of firms in nonperfect competition. Prerequisite: ECO213 and MAT111QR or 112QR.

(4 credits) This course is a study of the theory and practice of international trade, international economic and monetary activity, balance of trade international payment mechanisms, exchange rate systems, functions of the International Monetary Fund, and the World Bank. Prerequisites: ECO213 and 214.

(4 credits) This course, which is required for finance, economics, and actuarial science majors, is designed to introduce students to the fundamentals of econometric analysis. To this end, the primary focus is on simple and multiple linear regressions using cross-sectional data and time series regressions. We will also discuss highly useful extensions including regression with binary dependent variables, and regression analysis using panel data if time. The course will put a heavy emphasis on empirical applications, econometric theory will be discussed where necessary but will not be the central focus. Instead, we focus on estimating regression models using statistical packages such as R, SPSS, or Stata, and on interpreting the results. Both estimation and interpretation are highly marketable skills. The coverage of this course will be sufficient for SVEE Applied Statistics (SOA) and useful for CFA exams. More broadly, what you learn from this course will be valuable for a career in consulting, banking, insurance, and other related fields. Prerequisites: C- or better in MAT112QR and MAT116QR or MAT117QR. Cross-Referenced: Cross-referenced in mathematics.

(4 credits; alternate years, consult department) This course is an introduction to and survey of the theory of games (multiperson decision theory) and its applications, primarily in economics. The Nash equilibrium concept will be carefully developed to provide a basis for analyzing various forms of strategic interaction. Areas of application will include oligopolistic markets, common resource markets, stock market microstructure and corporate takeovers. In addition to economic applications, we will use game theory to explore selected political, social and religious issues. Prerequisites: MAT111QR or112QR, or permission of instructor.

(4 credits may apply toward the major)

(4 credits) Success in business depends on the positioning of the firm and the management of its resources. Through the lens of economics, students will learn to think systematically and strategically about critical management issues concerning consumer demand, costs, pricing, market competition, and organizational incentives. This course is an advanced economics course focusing on economic reasoning and decision-making in everyday life of a manager or an entrepreneur. Emphasis will be placed on case studies and quantitative data analyses. Prerequisites: ECO213 and MAT116QR or MAT117QR.

(4 credits) Examines the historical development, organization and structure of the mass media in contemporary society, as well as related issues and problems. Suggests Christian perspectives on use of and participation in the mass media.Cross-Referenced: Cross-referenced in communication studies.