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Requirements

The Department of Economics, Business, and Finance offers majors and minors in Economics, Business, and Finance. Students cannot double major, double minor, or have both a major and a minor within the Department.  Each major also allows students to complete at most one area of concentration, but students are not required to do so.

As of March 2021, international students who major in Economics have the ability to apply for the Optional Practice Training Extension for STEM (OPT-STEM) in order to receive 36 rather than 12 months of OPT; however, due to federal policy, OPT-STEM is not available to students majoring in Business or Finance.

The Department enacted new major and minor requirements, including new requirements for concentrations, in Summer/Fall 2022. The new requirements apply to all students who started at the College after the Spring 2022 semester. Students who started at the College in the Spring 2022 semester or before can complete the new requirements or the previous set of requirements. (See the left navigation bar for the requirements before Summer/Fall 2022.)

Students are not allowed to count more than 15 credits, exclusive of internship credits, from the department combined across all three prefixes (BUSN, ECON, or FIN) toward graduation. Students may appeal to the Chair of the Department for exceptions to this policy.

Courses taken toward a major in Economics, Business, or Finance cannot be taken Pass-Fail, with the exception that MATH 108 and 109, 110, or 160 must carry an assigned grade of at least C-, even if it is listed as Pass on the transcript. There are no Pass-Fail limits for minors.

MAJOR IN BUSINESS

At least 11.5 credits

Pre-Core Requirements (3.5 Credits)

Students majoring in Business must complete all of the requirements listed below, each with a C- or better.

BUSN 130 Applied Statistics
ECON 110 Principles of Economics
Either MATH 108 Calculus 1a & MATH 109 Calculus 1b, MATH 110 Calculus I, or MATH 160 Math
Methods with Applications
COLL 150 Data Analytics Using Excel (0.5 credits) 

Core Requirements (4 Credits)

Students majoring in Business must complete, with a grade of C- or better,

PHIL 203 Business Ethics or PHIL 325 Major Ethical Theories

Students majoring in Business must complete three of the five courses listed below, each with a C- or better.

BUSN 210 Managerial Economics
BUSN 225 Principles of Marketing
BUSN 230 Financial Accounting
BUSN 245 Principles of Management
FIN 210 Financial Management

Elective Requirements (3 Credits)

Students majoring in Business must complete three elective courses at the 200- or 300-level subject to the following condition:

  1. At least two electives must be at the 300-level.
  2. At least two electives must have a BUSN prefix.
  3. One elective can come from the following list.

Any 300-level class with an ECON or FIN prefix
CHIN 313 Chinese for International Affairs and Business
ENTP 220 Selling and Non-Profit Fundraising
ENTP 250 Small Business Leadership and Management
ENTP 255 Nonprofit Leadership and Management
FREN 320 French for International Affairs and Business
HIST 290 Capitalism: A Global History
RELG 232 Religion and Capitalism
SPAN 321 Business Spanish 

Senior Studies Requirement (1 Credit)

Students majoring in Business must complete either one course at the 400-level with a BUSN prefix or a BUSN senior thesis.

Concentrations for Business Majors (optional)

Students who major in Business can elect to complete the general major, or they can elect to also complete one concentration (Accounting, Management, or Marketing) within the major. The requirements for each concentration are listed below, with each reducing the amount of choice available within the major. Students intending to complete a concentration must file a Declaration of Major form with the Registrar’s Office indicating this intent.

Concentration in Accounting for Business Majors

At least 11.5 credits are required to complete the Business major with a Concentration in Accounting

In order to obtain a Concentration in Accounting, while completing all of the requirements for the Business major listed above, students must:

  1. Complete all three of:

BUSN 210 Managerial Economics
BUSN 230 Financial Accounting
FIN 210 Financial Management

  1. Complete three courses from the following list:

BUSN 330 Intermediate Accounting
BUSN 331 Managerial Accounting
BUSN 332 Auditing
BUSN 333 Cost Accounting
BUSN 334 Financial Accounting with QuickBooks
BUSN 335 Intermediate Accounting II
BUSN 430 Federal Tax Accounting

Concentration in Management for Business Majors

At least 11.5 credits are required to complete the Business major with a Concentration in Management

In order to obtain a Concentration in Management, while completing all of the requirements for the Business major listed above, students must:

  1. Complete all three of:

BUSN 210 Managerial Economics
BUSN 245 Principles of Management
Either BUSN 230 Financial Accounting or FIN 210 Financial Management

  1. Complete three courses from the following list:

BUSN 343 Diversity in Organizations
BUSN 344 Human Resource Management
BUSN 345 Organizational Behavior
BUSN 348 Performance and Competition
BUSN 349: Leadership in Organizations
BUSN 480 Happiness: Key to Workplace Success

Concentration in Marketing for Business Majors

At least 11.5 credits are required to complete the Business major with a Concentration in Marketing

In order to obtain a Concentration in Marketing, while completing all of the requirements for the Business major listed above, students must:

  1. Complete BUSN 225 Principles of Marketing.
  2. Complete three courses from the following list:

BUSN 325 Digital Marketing and Analytics
BUSN 355 Consumer Behavior
BUSN 356 Marketing Research
BUSN 460 Brand Management and Positioning

 

MINOR IN BUSINESS

At least 6 credits

Students majoring in Economics or Finance cannot complete a minor in Business.  In order to complete a minor in Business, students must complete the requirements set forth below.

Pre-Core Requirements (2 credits)

Students must complete both courses listed below:

ECON 110 Principles of Economics
BUSN 130 Applied Statistics

Core Elective Requirements (3 credits)

Students must complete three of the following courses:

BUSN 210 Managerial Economics
BUSN 225 Principles of Marketing
BUSN 230 Financial Accounting
BUSN 245 Principles of Management
FIN210 Financial Management
PHIL 203 Business Ethics 

Elective Requirement (1 credit)

Students must complete one course from the following list:

Any 200-level or higher course with a BUSN prefix
CHIN 313 Chinese for International Affairs and Business
ENTP 220 Selling and Non-Profit Fundraising
ENTP 250 Small Business Leadership and Management
ENTP 255 Nonprofit Leadership and Management
FREN 320 French for International Affairs and Business
HIST 290 Capitalism: A Global History
RELG 232 Religion and Capitalism
SPAN 321 Business Spanish

Transfer Credit Guide

Click  here for a guide listing the Economics, Business and Finance requirements that can be satisfied by courses at local community colleges nearest Lake Forest.