The Department of Economics & Business Administration

Majors & Minors

This is a general overview of the majors and minors. For more information, please consult the college catalog, or contact the department.

The Department of Economics & Business Administration offers four fields of concentration, two interdisciplinary fields of concentration, and two minors:

The Economics & Business Administration curriculum places emphasis on creating well-rounded, literate entrepreneurs, business professionals and economists. The study of business is a vehicle used in obtaining a broad-based, liberal arts education. A strategic viewpoint is adopted where functional areas are interrelated and considered in a larger economic and social context. An entrepreneurial focus, emphasizing new ventures and family-owned businesses, permeates much of the required coursework. A moral philosophy of business and economics is routinely presented in the required courses.

The Department offers a major in economics for students interested in careers in research, teaching, business or public service. The majors in fields of accounting, finance and marketing/ management prepare students to embark upon careers in today’s dynamic and global business environment. The Department strongly encourages its students to double major or minor in a foreign language, the sciences or mathematics. The Department offers a joint major with the Departments of French, German and Spanish. This major in international studies in business and foreign language is well-suited to students seeking careers in the growing global economy, allowing them to combine business coursework with study of their chosen foreign language.

Students at Hillsdale College may take courses in business administration in one of three ways. First, any student at Hillsdale College may take any business course so long as the student meets the prerequisites of the course. These courses may be in accounting, business administration, economics or law. Certain courses have no listed prerequisites and may be taken to enrich the student’s curriculum, broaden the base of knowledge in another area of study or create a fund of knowledge for further study in other areas. Second, students in other majors may elect a minor in business. The minor in business administration may not be taken by students majoring in the EBA Department. Third, students may elect a major in accounting, financial management or marketing/ management. All three majors require the completion of a common core of business courses in addition to the general College requirements.

Economics Major & Minor

In addition to meeting general College requirements, the student who wishes to major in economics must complete 39 semester hours of coursework in the Department, plus four hours of Mathematics 120, Calculus I (or Mathematics 113, Integrated Calculus I-B). The courses listed below under Sophomore Year and Junior Year are required for the major. In addition, students in the economics major must take an additional 18 credit hours in upper-level economics courses (300 or above) as listed below. Students may declare a major in economics and enroll in junior- and senior-level courses only after successfully completing all sophomore-level courses listed below. Grades in all courses must be “C-” or better for successful completion.

Sophomore Year

  • Economics 202: Principles of Microeconomics
  • Economics 203: Principles of Macroeconomics
  • Economics 206: Business & Economics Statistics
  • Mathematics 113: Integrated Calculus I-B, or
  • Mathematics 120: Calculus I

Junior Year

  • Economics 303: Intermediate Microeconomics
  • Economics 304: Intermediate Macroeconomics
  • Economics 355: History of Economic Thought I
  • Economics 356: History of Economic Thought II

Junior/Senior Year

  • Eighteen additional hours of courses in economics numbered 300 and above

Minor

The minor in economics consists of:

  • Economics 202: Principles of Microeconomics
  • Economics 203: Principles of Macroeconomics
  • Economics 206: Business & Economics Statistics
  • Economics 303: Intermediate Microeconomics
  • Economics 304: Intermediate Macroeconomic
  • Six credits-hours of Economics electives

In addition, a grade of at least “C-” must be achieved in Mathematics 113, Integrated Calculus I-B or Mathematics 120, Calculus I.

Business Administration Core

All Students who elect to pursue a major in accounting, financial management or marketing/management must complete a common core of business courses in addition to the general College requirements. This core consists of the following courses totaling 34 semester hours:

Sophomore Year

  • Economics 202: Principles of Microeconomics
  • Economics 203: Principles of Macroeconomics
  • Economics 206: Business and Economics Statistics
  • Accounting 209: Principles of Accounting I
  • Accounting 210: Principles of Accounting II
  • Mathematics 113: Integrated Calculus I-B, or
  • Mathematics 120: Integrated Calculus I

Junior Year

  • Business 315: Principles of Marketing
  • Business 320: Quantitative Analysis
  • Business 330: Financial Management
  • Business 400: Management Theory & Practice
  • Law 320: Business Law I

Accounting and Business students are encouraged to take additional mathematics and computer science courses. Also, it is recommended that they learn a second language. The following courses are recommended as electives:

  • Speech 356: Organizational Communication
  • Philosophy 107: Introduction to Logic
  • Business 302: Business Written Communication

Accounting Major

A student majoring in accounting must complete a total of 55 credit hours. In addition to the core courses in economics and business administration, the accounting major must take 21 advanced hours in accounting. The advanced required courses in accounting are:

  • Accounting 311: Intermediate Accounting I
  • Accounting 312: Intermediate Accounting II
  • Accounting 316: Federal Income Tax I
  • Accounting 401: Accounting Information Systems
  • Accounting 405: Principles of Auditing
  • Accounting 411: Advanced Accounting/Fund Accounting
  • Accounting 431: Managerial and Cost Accounting

Financial Management Major

Students choosing a major in financial management must complete a total of 49 credit hours. In addition to the core courses in economics and business administration, the financial management major must take 15 advanced semester hours in financial management. Students majoring in financial management must take:

  • Business 401: Advanced Financial Management
  • Business 410: Investments I
  • Business 411: Futures & Options Markets
  • Business 418: Readings in Power, Leadership, & Responsibility, or
  • Business 419: Business Ethics
  • Business 431: Case Studies in Finance, or
  • Business 432: International Finance, or
  • Business 433: Investments II, or
  • Business 434: Risk Management, or
  • Economics 362: Econometrics

Marketing/Management Major

Students choosing to major in marketing/management must complete a total of 49 credit hours. In addition to the core courses in economics and business administration, the marketing& management major must take 15 advanced semester hours in marketing/management. Students majoring in marketing & management must take:

  • Business 452: Marketing Management
  • Business 453: International Business
  • Business 516: Marketing Research
  • Business 418: Readings in Leadership, Power, & Responsibility, or 
  • Business 419: Business Ethics
  • Business 440: Operations Management, or 
  • Business 441: Strategic Management

Students are encouraged to take other elective courses in marketing and management.

Business Administration Minor

A minor in Business Administration consists of a minimum of 18 hours and must include the following courses:

  • Accounting 209: Principles of Accounting I
  • Economics 202: Principles of Microeconomics
  • Business 315: Principles of Marketing
  • Business 330: Financial Management
  • Business 400: Management Theory & Practice
  • Law 320: Business Law I