Economics, Finance & Accounting

Accounting
The accounting program offers a wide range of studies designed to prepare students for employment in business, government, education systems, and other organizations in a variety of financial, industrial, and service entities. Students can choose the traditional accounting major or add a concentration in public accounting. Independent certified public accountants comprise one of the fastest growing professions. Students in the public accounting concentration are eligible to sit for the CPA Examination if they complete the requirements for the degree and take additional coursework to earn 150 total credit hours.

Economics
Economics is the only social science in which a Nobel Prize is awarded. To succeed in economics, students should have an interest in applying critical thinking and statistical analysis to issues of business, financial, ethical, and social importance. The department currently offers a concentration in economics within the finance major as well as a minor in economics. Economics training is valuable preparation for law school or post-graduate work in economics, finance, business or the social sciences.

A major in international business and economics provides the academic preparation for positions with business, government, or international agencies dealing with international trade and foreign investments. Coursework includes management, marketing, finance, and economics classes as well as electives in political science, geography, sociology, modern languages, and other social sciences.

Finance
Finance provides one of the most dynamic and rewarding of careers. Financial services, investment advising, retirement planning, and tax and estate planning are fast-growing fields where substantial earnings are possible for those associated with financial planning firms and for individual entrepreneurs. Along with the private sector of the economy, many government agencies need employees with majors in finance. FHSU will prepare the student for a wide variety of careers in financial planning, banking, and corporate financial management. Students can choose the traditional finance major with no concentration or obtain a concentration in banking, economics, or financial planning. Fort Hays State University is the only institution in Kansas with a business undergraduate degree program in financial planning that is registered with Certified Financial Planner Board of Standards Inc.

Department of Economics, Finance, and Accounting

Courses

The study of accounting as a means of communicating financial information about a business enterprise. Emphasis is placed on the basic concepts used in preparing and interpreting external financial statements.

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A continuation of ACCT 203 with added emphasis on preparing and interpreting accounting information to aid management in the decisionmaking process.

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Course emphasizes the uses of accounting data for: (1) planning and controlling routine operations; (2) non-routine decisions, policy making, and long-range planning; and (3) inventory valuation and income determination.

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Presents an overview of the foundation of accounting theory, a study of the accounting cycle, financial statements and mathematical principles. A comprehensive study of assets is made.

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Continuation of ACCT 305. Covers recognition and measurement of liabilities, stockholders' equity, dilutive securities, investments, revenues and expenses. Also covers taxes, pensions and leases.

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Fraud Examination will cover the principles and methodology of fraud detection and deterrence. The course includes such topics as skimming, cash larceny, check tampering, register disbursement schemes, billing schemes, payroll and expense reimbursement schemes, non-cash misappropriations, corruption, accounting principles of fraud, fraudulent financial statements and interviewing witnesses.

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This course provides a comprehensive study of the use of financial statements in assessing a firm's health and financial standing.

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Design, implementation and evaluation of processing methods for accounting information including computing, managerial, and auditing considerations.

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A study of a broad range of federal tax concepts and types of taxpayers including the role of taxation in the business decision-making process. This follows the AICPA model tax curriculum.

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A study of budgeting and operation of fund accounts for state, municipal, and other public institutions. Accounting control as a means of effecting improved administration of public enterprise.

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This course examines accounting ethics for auditors, tax practitioners and management accountants. Emphasis will be on professional guidance issued by the American Institute of Certified Public Accountants (AICPA), the IRS and other professional accounting organizations.

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Procedures and practices of the public accountant in verifying accounts and supplementary data, and training in preparation and analysis of reports of such findings appropriate to purpose for which the external audit is made. Emphasis will be on U.S. GAAS and pronouncements of the AICPA and the PCAOB.

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The apprenticeship will provide the upperdivision, undergraduate student with an opportunity to serve as a tutorial aide, researcher, classroom proctor, etc. To enroll, students must be majoring in accounting and have at least a 3.0 major GPA and have completed at least 9 hours in the major core.

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The internship provides students with the opportunity to integrate and apply previous coursework in accounting through work in business, government, or not-for-profit enterprises. Students may enroll for internship credit if the internship application process is competitive and approved by the department chair. Students must have a 3.0 major GPA and have completed 9 hours in the accounting major core.

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Emphasis is placed on consolidated statements. Consideration is also given to foreign branches and subsidiaries.

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Emphasis is placed on consolidated statements. Consideration is also given to foreign branches and subsidiaries.

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A study of the background and present state of accounting theory with emphasis on recent pronouncements of the Financial Accounting Standards Board.

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A study of the background and present state of accounting theory with emphasis on recent pronouncements of the Financial Accounting Standards Board.

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Selected typical problems from previous CPA. Examinations and pertinent coursework are reviewed. A variety of topics in accounting practice and theory are considered. Students are expected to have a thorough background in accounting. Very little new material is introduced in the course.

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Selected typical problems from previous CPA. Examinations and pertinent coursework are reviewed. A variety of topics in accounting practice and theory are considered. Students are expected to have a thorough background in accounting. Very little new material is introduced in the course.

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A study of the major aspects of federal income taxes as they pertain to partnerships, corporations, estates and trusts.

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A study of the major aspects of federal income taxes as they pertain to partnerships, corporations, estates and trusts.

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Emphasizes non-routine decisions, policy making, and long-range planning with a continuation of routine planning and control. Considerable stress is placed upon quantitative methods.

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Emphasizes non-routine decisions, policy making, and long-range planning with a continuation of routine planning and control. Considerable stress is placed upon quantitative methods.

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Principles and standards in external auditing are emphasized through considerations of legal cases encountered by auditors in public practice. Emphasis will be on U.S. GAAS and pronouncements of the AICPA and the PCAOB.

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Principles and standards in external auditing are emphasized through considerations of legal cases encountered by auditors in public practice. Emphasis will be on U.S. GAAS and pronouncements of the AICPA and the PCAOB.

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Research topics to be selected by mutual agreement of student and instructor. Approval by the department chair is required.

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Research topics to be selected by mutual agreement of student and instructor. Approval by the department chair is required.

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A study of problems encountered in accounting. Topics may include special sales procedures-installments and consignments; fiduciary relationships--receiverships, estates and trusts; and mergers and consolidations.

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A study of the communication of accounting information with an emphasis on the recipient of the data. The fundamental focus is the analysis and evaluation of performance data desired by managers and other decision makers.

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A basic one-semester terminal course for students not in economics or business administration. Essential economic theory is developed and applied to scarcity, markets, market structures, income determination, economic stabilization politices and the economic role of government. May not be used to fulfill major or minor requirements in economics.

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An introductory study of principles that affect goals, incentives, and outcomes of economic behavior at the level of the individual decision maker. Specific topics include the operation of both product and resource markets, the behavior of firms and industries under different market structures, and international exchange.

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An introductory study of factors that determine U.S. unemployment, production, growth, interest and inflation rates; basic theories of consumption and investment expenditure; the effects of discretionary fiscal and monetary policies on the national economy.

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An intermediate-level study of the theory of household and firm behavior. A study of how the market system organized economic activity and an evaluation of its performance.

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An intermediate-level study of theories of aggregate consumption, investment, net export and government expenditures; determination of national output, employment, price level, interest and exchange rates; derivation of aggregate demand and supply; implications of classical, Keynesian, supply-driven, rational expectations and real business cycle models; examination of the empirical evidence.

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The interrelationship of economic activity and environmental consequences will be the main focus of the course.

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The apprenticeship will provide the upperdivision, undergraduate student with an opporunity to serve as a tutorial aide, researcher, classroom proctor, etc.

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The internship provides students with the opportunity to integrate and apply previous academic coursework in international business and economics through professionally related work in business, government, or not-for-profit enterprises.

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The application of economic principles to various consumer issues.

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A survey of methods and concepts used in understanding regional economic growth and development.

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An introduction to the tools and procedures necessary to measure and test casual relationships implied by economic and finance theory. Emphasis will be on regression analysis.

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An introduction to the tools and procedures necessary to measure and test casual relationships implied by economic and finance theory. Emphasis will be on regression analysis.

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The topics course is designed to offer subjects which are not dealt with in the conventional curriculum. See class schedule for specific topics.

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The topics course is designed to offer subjects which are not dealt with in the conventional curriculum. See class schedule for specific topics.

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Techniques for business forecasting with emphasis on time-series methods. The relationship of forecasting to decision making, a survey of forecasting methods and their application; models for stationary and non-stationary time-series, model identification, estimation of parameters, computation of forecasts and of confidence intervals, adaptive forecasting, and evaluation of forecasts.

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Techniques for business forecasting with emphasis on time-series methods. The relationship of forecasting to decision making, a survey of forecasting methods and their application; models for stationary and non-stationary time-series, model identification, estimation of parameters, computation of forecasts and of confidence intervals, adaptive forecasting, and evaluation of forecasts.

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A study of the factors producing economic cycles including history, theory, and statistical measure of business cycles. Emphasis will be placed on forecasting methods.

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A study of the factors producing economic cycles including history, theory, and statistical measure of business cycles. Emphasis will be placed on forecasting methods.

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A study of the scope of government fiscal activity including the federal budget, government expenditures, and fiscal and debt management policy. Issues of taxation include principles of taxation, tax sources and distribution. Examples of current issues include revenue sharing, social security, national health issues, and urban transportation systems.

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A study of the scope of government fiscal activity including the federal budget, government expenditures, and fiscal and debt management policy. Issues of taxation include principles of taxation, tax sources and distribution. Examples of current issues include revenue sharing, social security, national health issues, and urban transportation systems.

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An examination of the institutional setting which facilitates the creation and transfer of money between individuals, firms, and governments; how the supply and demand for money affect and are affected by national output, employment, prices, interest, and exchange rates; derivation of aggregate demand using Hicks' IS-LM model; theories and evidence of fiscal and monetary policy effectiveness in an open economy.

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An examination of the institutional setting which facilitates the creation and transfer of money between individuals, firms, and governments; how the supply and demand for money affect and are affected by national output, employment, prices, interest, and exchange rates; derivation of aggregate demand using Hicks' IS-LM model; theories and evidence of fiscal and monetary policy effectiveness in an open economy.

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A survey of international trade and finance, includes the theory and empirical foundations of international trade; the balance of payments and foreign exchange; contemporary international economic problems and commercial policies (e.g., tariffs, quotas, exchange control, international monetary reform).

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A survey of international trade and finance, includes the theory and empirical foundations of international trade; the balance of payments and foreign exchange; contemporary international economic problems and commercial policies (e.g., tariffs, quotas, exchange control, international monetary reform).

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Application of economic theory to business decision making at the individual firm level. Selected topics include: demand estimation and forecasting, production and cost theory, cost estimation and forecasting, pricing decisions, and government regulations.

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Application of economic theory to business decision making at the individual firm level. Selected topics include: demand estimation and forecasting, production and cost theory, cost estimation and forecasting, pricing decisions, and government regulations.

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A theoretical and empirical study of the structure, conduct, and performance of manufacturing firms and industries. Topics examined include economic concentration, scale economics, entry barriers, and collusive oligopoly practices. These topics will be used to evaluate how well American industrial performance meets societal goals.

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A theoretical and empirical study of the structure, conduct, and performance of manufacturing firms and industries. Topics examined include economic concentration, scale economics, entry barriers, and collusive oligopoly practices. These topics will be used to evaluate how well American industrial performance meets societal goals.

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For majors in the College of Business and Leadership. Purpose of the course is to provide an opportunity for in-depth study in one area of economics or finance. Admission only upon consent of the instructor and approval by the Department Chair.

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For majors in the College of Business and Leadership. Purpose of the course is to provide an opportunity for in-depth study in one area of economics or finance. Admission only upon consent of the instructor and approval by the Department Chair.

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The purpose of the seminar is to bring together a small group of students for intensive study, discussion, and research in selected fields of economics or finance.

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The purpose of the seminar is to bring together a small group of students for intensive study, discussion, and research in selected fields of economics or finance.

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The development and application of economic theory to the study of the labor market. Emphasis on labor demand, labor supply, employment, and wages at both the micro and macro levels.

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The development and application of economic theory to the study of the labor market. Emphasis on labor demand, labor supply, employment, and wages at both the micro and macro levels.

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Selected economic issues and problems confronting the American economy will be examined in depth through readings, discussions, and independent projects.

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Selected economic issues and problems confronting the American economy will be examined in depth through readings, discussions, and independent projects.

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This class provides an overview of banking with emphasis on current issues and trends. Students will learn about bank organizational structure, line/staff functions, and employee responsibilities. The regulatory environment of banking is studied, including the involvement of the Federal Reserve and monetary policy. Bank deposit services and the credit function are reviewed. Skills learned include methods of measuring and analyzing the performance of financial institutions.

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This course begins with an overview of the evolution and critical events in the development of society's consumptive mindset. Critical thinking and economic analysis are applied at an individual level, in the spirit of Adam Smith's "invisible hand." Students are exposed to a wide variety of personal financial choices as a way of connecting individual risk-taking with potential threats to democracy and American society. The dynamics between individual utility maximazation, social responsibility, and ethical behavior are explored. Knowledge of financial products, analytical tools and critical thinking skills are cultivated in the context of setting goals and measuring progress, managing taxes, basic asset management, credit management, risk management, investing, and estate and retirement planning.

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A study of the basic concepts of financial management of a corporation. Topics include: ratio analysis, time value of money, valuation, capital budgeting, risk and return, cost of capital, and international financial management.

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Fundamentals of credit documentation, management, investigation and analysis, credit problems, collection activities, loan structure, protection and remedies.

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A study of the fundamental concepts of investment analysis and management. Topics include: the different types and characteristics of investment securities and markets, security and analysis and selection, valuation, risk and return, and portfolio theory.

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Characters of land, real estate markets, ownership, interest; legal instrument, contracts, closing transfers; financing, brokerage, management, appraising, developing, and ownership.

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Basic study of coverages offered by property and casualty insurers. Emphasis will be on development, basic concepts, and legal basis of the various lines of property and casualty insurance.

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Types of contract, functions of various contracts, company organization, rate making, selection of risks and other home office operations. Governmental supervision of life insurance companies.

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A study of the financing decision-making and problem solving of a corporate financial manager. Topics include: working capital, risk and return, valuation, capital budgeting with uncertainty, cost of capital, efficient markets, capital structure, options, and international fincancial management.

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A study of real estate markets, the process of financing real estate transactions, and real property as an investment medium.

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Valuation theories applied to land, residential, commercial, and leasehold real estate, three approaches to value; depreciation, capitalization, and a residential appraisal required.

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A study of the feasibility and the analysis of long-term investment characteristics of condominiums, apartments, housing complexes, office buildings, shopping centers, industrial properties, farms and subdivisions.

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A comprehensive study of the concepts and techniques of financial planning. Topics include: the role of the financial planner, legal and ethical requirements, developing a financial plan, economic analysis, insurance analysis, investment analysis, tax planning, estate and retirement planning.

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A capstone course that enables students to integrate finance principles with their college learning experiences by formulating questions, gathering information, structuring and analyzing information, drawing conclusions, and communicating those conclusions to others in an oral and/or written form.

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The apprenticeship will provide the upper-division undergraduate student with an opportunity to serve as a tutorial aide, researcher, classroom proctor, etc. To enroll, students must be majoring in finance and have at least a 3.0 major GPA and have completed at least 9 hours in the major core.

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The internship provides students with the opportunity to integrate and apply previous academic coursework in finance and economics through professionally related work in business, government, or not-for-profit enterprises. Students may only enroll for internship credit if the internship has been approved by the department chair. See advisor for details. Students must also have at least a 3.0 major GPA and have completed at least 9 hours in the finance major core.

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An examination of the markets and institutions that facilitate the creation, exchange, and liquidation of derivative financial assets. Topics include: risk management techniques using options, futures, and swaps; valuation, hedging, and speculation.

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An examination of the markets and institutions that facilitate the creation, exchange, and liquidation of derivative financial assets. Topics include: risk management techniques using options, futures, and swaps; valuation, hedging, and speculation.

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A study of the theoretical and practical aspects of portfolio management and security analysis. Topics include: portfolio theory, efficient capital markets, valuation, portfolio performance, international diversification, and specific management techniques applied to equity and debt securities as well as futures and options.

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A study of the theoretical and practical aspects of portfolio management and security analysis. Topics include: portfolio theory, efficient capital markets, valuation, portfolio performance, international diversification, and specific management techniques applied to equity and debt securities as well as futures and options.

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An introduction to income taxation and its impact on financial planning for individuals in their roles as employees, investors, and business owners.

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An introduction to income taxation and its impact on financial planning for individuals in their roles as employees, investors, and business owners.

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An introduction to the theory and general principles of insurance and its impact on financial planning. Topics include: insurance and risk, property and casualty insurance, life, disability, long-term care, and health insurance.

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An introduction to the theory and general principles of insurance and its impact on financial planning. Topics include: insurance and risk, property and casualty insurance, life, disability, long-term care, and health insurance.

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A study of the principles of risk and the management techniques to minimize risk for the firm and individual.

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A study of the principles of risk and the management techniques to minimize risk for the firm and individual.

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A study of the nature, scope and role of financial institutions in the economy; supply of and demand for loanable funds; money market; capital markets; the level and structure of interest rates; monetary, fiscal and debt management policies.

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A study of the nature, scope and role of financial institutions in the economy; supply of and demand for loanable funds; money market; capital markets; the level and structure of interest rates; monetary, fiscal and debt management policies.

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A study of the organization and operations of national and state banks; the balance sheet of a commercial bank; liquidity management; asset management; loans and discounts; credit analysis; interest rates; investment account management; trust services; capital funds management and safety of banks.

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A study of the organization and operations of national and state banks; the balance sheet of a commercial bank; liquidity management; asset management; loans and discounts; credit analysis; interest rates; investment account management; trust services; capital funds management and safety of banks.

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As the capstone course for Finance majors with a Banking Concentration, this course provides the opportunity for students to apply the skills and knowledge obtained from their coursework to a banking environment.

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As the capstone course for Finance majors with a Banking Concentration, this course provides the opportunity for students to apply the skills and knowledge obtained from their coursework to a banking environment.

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Examination and analysis of international financial decision making in areas of foreign investments, trade and working capital management given various political, cultural and technological constraints.

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Examination and analysis of international financial decision making in areas of foreign investments, trade and working capital management given various political, cultural and technological constraints.

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Research topics to be selected by mutual agreement of student and instructor. Approval by the department chair is required.

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Research topics to be selected by mutual agreement of student and instructor. Approval by the department chair is required.

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A comprehensive study of the fundamentals and techniques of estate planning. Topics include: property transfers, taxation as applied to estate planning, goals, probate, charitable transfers, estate planning for closely held business interests, will and trust, bypass, gift, liquidity, and postmortem planning.

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A comprehensive study of the fundamentals and techniques of estate planning. Topics include: property transfers, taxation as applied to estate planning, goals, probate, charitable transfers, estate planning for closely held business interests, will and trust, bypass, gift, liquidity, and postmortem planning.

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A comprehensive study of the fundamentals and techniques of retirement and employee benefit planning. Topics include: ethics; types or alternative retirement plans; retirement needs analysis; tax implications; life, medical, and disability plans; and other current topics.

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A comprehensive study of the fundamentals and techniques of retirement and employee benefit planning. Topics include: ethics; types or alternative retirement plans; retirement needs analysis; tax implications; life, medical, and disability plans; and other current topics.

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(1) Business Communication and (2) Information Systems Administration. The purpose of the seminar is to bring together a small group of students for intensive study and discussion of a selected topic(s) in one of the fields of business communication or information systems administration.

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(1) Business Communication and (2) Information Systems Administration. Students can apply their basic skills as an apprentice in a work setting while learning more about the duties and responsibilities of business and office personnel. Permission of the Department Chair is required before enrollment. See advisor for details.

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(1) Business Communication and (2) Information Systems Adminstration. The students will perform meaningful, professionally related work. A job in the student's major must be obtained in advance and be approved by the advisor and the Department Chair prior to enrollment. See advisor for details.

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Last updated: 02/19/2020