Business and economics courses
- Principles of Financial Accounting
(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.
- Principles of Managerial Accounting
(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.
- Cost Accounting
(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.
- Individual Income Tax
(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.
- Non-Profit and Governmental Accounting
(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.
- Intermediate Accounting I
(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.
- Intermediate Accounting II
(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.
- Directed Study
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. (4 credits; alternate years, consult department)
(2 credits may apply toward the major)
- Advanced Accounting
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. (4 credits; alternate years, consult department)
- CPA Review
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. (1 credit)
- Entity Tax and Law
(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: ACC 307 and BUS 321 or permission of instructor. Cross-referenced in business.
- Senior Seminar in Accounting
(2 credits) (Fulfills IGE Senior Seminar requirement) 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 IGE, 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.
- Animal Science
(3 credits; alternate years, consult department) Designed to provide background in animal physiology including comparative characteristics and bodily functions of farm animals. This course also includes the livestock enterprise components of swine, beef, horses, sheep and poultry.
- Crop Production
Covers basic principles of crop production, emphasizing the production of corn, soybeans, sorghum, small grains and forages. The effects of soil and climate on plant growth and production are integrated into the various crops studied. Weeds and weed control are also included. (3 credits; alternate years, consult department)
- Agricultural Marketing
(3 credits; alternate years, consult department) Designed to provide exposure to the total agricultural marketing structure, with emphasis on market evaluation and decision-making. The cash market, local contracting, and the futures market are studied as tools in the development of an orderly marketing program.
- Agri-Business Management
(3 credits; alternative years, consult department) This course is designed to expose the student to management principles and techniques as they apply to the agri-business setting.
(4 credits may apply toward the major)
- Principles of Marketing
(3 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.
- Principles of Management
(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.
- Business Ethics
This course is a study of basic ethical theories including the Christian impact on ethics. It includes applications of ethical decision-making to business problems and cases. Prerequisites: sophomore class standing and completion of at least two courses in business, economics or accounting. (2 credits)
- Management and Organizational Behavior
- Principles of Finance
(2 credits) This course covers the basic principles, theory and techniques of financial decision-making in the structure of a corporation. Prerequisites: ACC215 and 216 and MAT117.
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)
- Organizational Behavior
(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.
- Methods of Teaching Secondary Business
(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. Students must earn a "C" or better in the special methods course in order to fulfill program requirements for secondary licensure.
- Human Resource Management
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 and BUS305 or permission of instructor. (3 credits)
- Business Writing
(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 business classes.
- Business Law
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. (3 credits)
- Operations Management
The course integrates the theory, scope and practice of operations in industrial and service, including scheduling, inventory control, logistics, forecasting and coordination. A strong emphasis is placed on practical and behavioral aspects of operations management. Prerequisite: BUS201. (3 credits)
- Integrated Marketing Communications
(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.
- Directed Study
- Entrepreneurship and New Venture Initiation
(2 credits) This is an upper-level course focusing on student interaction with successful Christian leaders from a broad spectrum of professional fields. Each week, one scheduled speaker will both meet informally with the class and participate in a classroom seminar. Students will maintain a journal of their observations; readings from a variety of entrepreneurial and leadership sources will be required. The student will also be required to participate in the Spring Leadership Conference at NWC and attend off-site experiential activities in the local area. Prerequisite: junior class standing.
- Consumer Behavior
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. (3 credits)
- Business Strategy
This capstone course is designed to assist students in analyzing and synthesizing the material covered in other courses throughout their studies. It focuses on an integrated approach to management decision-making using all of the functional areas of business. Prerequisite: completion of business core and senior class standing. (3 credits)
- Strategic and Ethical Management
(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.
- Advanced Corporate Finance
(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.
- Strategic and Managerial Marketing
(3 credits) This course focuses on applying marketing management from a strategic perspective in the business world. Students explore the strategic orientation in the marketing function, decision making, marketing applications and operations and ethical considerations; while developing strategic marketing plans for real-world clients. Students maintain a journal of their observations and present a deliverable plan to their clients. Prerequisite: BUS200. (3 credits)
- International Business
(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)
- International Internship
(4 credits may apply toward the major)
- Entity Tax and Law
(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: ACC 307 and BUS 321 or permission of instructor. Cross-referenced in accounting.
- Social Enterprise
- Advanced Derivaties
(3 credits) 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: MAT 116QR or MAT 117QR, MAT 112QR, MAT 211, BUS 304 or permission of instructor.
- Media Writing
(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.
- Media Law and Ethics
(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.
- Advanced Pulbic Relations: Strategy and Implementation
- Writing and Design for the Web
(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.
- Survey of Economics
- Principles of Microeconomics
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)
- Principles of Macroeconomics
Macroeconomics concerns itself with economic aggregates such as inflation, unemployment, recessions, national debt, and international trades. Macroeconomic models will be introduced. These models will be used to understand the application of monetary and fiscal policy. Prerequisite: ECO213. (4 credits)
- Money and Banking
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. (4 credits)
- Labor Economics
This course will look at labor productivity, determination of wages, demand for labor, labor migration, unions, government in the market place, discrimination and unemployment. Prerequisites: ECO213 and 214. (4 credits; alternate years, consult department)
- Current Economic Problems
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. (3 credits; non-yearly, consult department)
- Intermediate Macroeconomics
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 MAT111 or 112. (4 credits; alternate years, consult department)
- Intermediate Microeconomics
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 MAT111 or 112. (4 credits; alternate years, consult department)
- International Economics
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)
- Game Theory
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: MAT111 or 112, or permission of instructor. (4 credits; alternate years, consult department)
- Directed Study
(4 credits may apply toward the major)