We've met a number of students over the years
and have discovered that there are many reasons that they
select a major in Business Economics. Some are very certain
about what they want to do and others are not so sure. The
following is designed to help you think through your goals and
interests and how a Business Economics major might fit in with
People major in Business Economics for all of these reasons and
more. Pick the one that most closely relates to your thinking or
read on for the full story...
We aim to give you a combination of skills that you can use now
and throughout your career. Breaking into the business world
requires a background in business practice and institutions that
will make you attractive to your first-time employer. Our
program provides the necessary courses in accounting, finance,
marketing, and management to develop these tools. As people rise
in a business organization, however, they make less use of
detailed technical information and more use of general and
fundamental knowledge. In these areas, the solid liberal arts
education we offer will teach you to learn from experience, to
reason well, and to evaluate evidence in a meaningful way.
The Business Economics major is designed to provide a broad,
yet technically competent, basis for understanding the business
world. It is intended for the student who plans to enter the
business world directly after graduation but is sufficiently
flexible to accommodate those who may choose graduate study as
Fifteen courses are required for the Major:
Three to five courses chosen from:
Microeconomics, Macroeconomics and two additional economics
courses such as Labor Economics, Money and Banking, Industrial
Organization, International Economics.
Applied Regression and Calculus for the Social Sciences
complete the major.
A one-semester Junior Independent Study and a two-semester
Senior Independent Study
provide the opportunity to research a selected topic in depth,
working closely with a faculty expert in the area.
Students are also encouraged to take Computer Science. Ample
opportunity is provided to use Wooster's sophisticated computer
facilities to analyze business problems.
Intern Program is an option for majors to obtain
some practical experience in a real-world setting. Selected
firms in a variety of locations employ students full time for a
period of 22 weeks at the end of the junior year. The primary
goal of the internship is to enable the student to obtain
valuable work experience that can be related to his or her past
or future academic training. Recent projects have included:
financial analysis and calculations in support of a bank's
program to re-sell loans in the secondary financial markets;
strategic analysis of a firm's strengths and local market
conditions in preparation for expanded activities in Europe and
Asia; a transfer pricing study as part of a firm's Continuous
Value Improvement Process.
International Business. A liberal arts
background already gives you an advantage in seeking
international careers. Our integrated
course of study helps you learn to think in ways that will
help you to handle the special requirements of adapting to a
foreign environment. More practically, at Wooster you will have
already had the chance to combine your business, language, and
cultural studies. Special options will help you to mix French, German, or Spanish with your business
courses. You can even take an economics
course in German or study commercial Spanish or
French. Sound impossible? Wooster students have been doing it
for ten years now! For language majors, a new minor
in International Business Economics will give you a head
start on an international career.
For over thirty years, Wooster students have had the
opportunity to put their classroom theories into practice. The Jenny Investment Club is a
student-managed stock and bond portfolio, the proceeds of which
are used for student scholarships. The students really manage it
and the evidence suggests that they do it well! With a modest
initial investment of less than $7000 supplied by the College,
the fund has grown to $750,000 while providing student
scholarships of over $180,000 in the last 10 years..
Study offers majors the opportunity to study, in
depth, a topic of special interest to them. Such an opportunity
has been recognized by top graduate schools as being a real
the magazine of the University of Michigan (Spring 2003, p.28)
says that their "Senior Seminar" program was modelled on
Wooster's IS program. The magazine goes on to cite Wooster as,
"...a national leader in providing undergraduate students with
an in-depth research experience..." and says that the Wharton
School will introduce a similar program shortly
Past projects and assignments have included: a study to compare
the cost of operations in several plants within a firm; market
surveys to determine bank customer satisfaction; and an analysis
of capital expenditures for a local hospital. Work like this is
an obvious benefit for those interested in graduate school, but
most of us enter the workforce directly after graduation. For
those, I.S. gives invaluable experience in planning, organizing,
and carrying out the long-term projects so typical of business.
Good research requires good research facilities. In addition to
housing over 900,000 volumes and the Flo Gault IS facility, the
College maintains state-of-the-art computer
facilities. Sophisticated networking capabilities make the
computer available to all buildings on campus, including
residence halls. A computer business game allows students to try
out various business strategies in a realistic business setting.
Personal computer applications also play an important role in
Business Economics graduates make good use of the Career Services Office and
use their education in a variety of ways. Approximately 30%
attend graduate or professional schools such as the University
of Michigan, Northwestern, Vanderbilt, Dartmouth, and Purdue.
Most obtain M.B.A. degrees, but law and other professional
degrees are not uncommon.
It would be wrong, however, to view our emphasis as primarily
pre-professional. Most majors enter business directly after
graduation, and our program supports these students both in
their search for a first job and in their movement upward in the
business world. No major is a ticket to a career, but
College-wide, about 94% of our graduates have a job within six
months of graduation. Examples of first-time positions help by
recent graduates include Financial Analyst with Chemical Bank,
Audit Consultant with Anderson
Consulting in Geneva, Switzerland, Analyst with Wharton
Econometrics, Portfolio Analyst with McDonald & Company
Securities. Distinguished alumni such as
the Vice Chairman of the US Federal Reserve, Executive Vice
President of the DuPont Company, Group Vice President of the
William Wrigley Company, Senior Vice President of Tenneco, President
of Bendix Finance Corporation, Chairman and CEO of Goodyear Tire & Rubber,
and Senior Vice President of Booz,
& Hamilton, Inc. are evidence of our longer term
Many majors are asked to join Phi Beta Kappa each year, and
Business Economics majors are also eligible for induction into
Omicron Delta Epsilon, the economics honorary society.
Have we answered your questions about our Program and how you
might fit into it? If not, use the form below to send us a
message. Or, send an e-mail to a faculty member listed at the
bottom of this page. Be sure to include your e-mail address
so that we can respond to you.
The diversity of the faculty is shown by their research
interests which include: measuring articulation in financial
statements, studying factors affecting the speed of information
transmission on the newly-formed Warsaw Stock Exchange, and
examining the impact of various market structures on insurance
Burnell, Professor of Economics. B.A. Connecticut;
M.A., Ph.D. Illinois.
Burnell, Professor of Economics. B.A. Western
Illinois; M.A., Ph.D. Illinois.
Adjunct Professor of Business Economics.. CPA (Ohio)
Moledina, Assistant Professor of Economics, B.A.,
Macalester College; Ph.D. University of Minnesota
Ormiston, Visiting Assistant Professor of Economics,
Ph.D., Michigan State University
John W. Sell,
Wilson Professor of Business Economics. B.S.
Pennsylvania State; M.A., Ph.D., U.C.L.A
Verdon, Assistant Professor of Business Economics.
Ph.D., Florida State University.
Assistant Professor of Economics, B.A. Bates 1983, M.A., New
Hampshire, Ph.D. Utah