Academic Catalog - Virginia Military Institute Admissions

ECONOMICS AND BUSINESS CURRICULUM
The curriculum in economics and business leads to the
bachelor of arts degree. The major is designed to provide an
understanding of the economic system and the function of
business enterprise in the economy. It includes many courses
common to other liberal arts curricula, with the aim of developing
the cadet’s ability to think critically about society’s economic
issues. In particular, the curriculum features an emphasis on
developing analytical tools and methods of both public economic
policy and business decision making.
As one of VMI’s liberal arts curricula, economics and
business is based on a foundation of studies in mathematics,
languages, social sciences, and humanities. In addition to the
core curriculum requirements listed on page 15, cadets must also
take core curriculum courses as listed on the next page (9 hours
of humanities or social science electives, plus 12 hours of one
foreign language through the 200-level). The curriculum provides
a broadly conceived liberal arts education and is an excellent
preparation for a wide range of business pursuits, military service,
or graduate studies in economics, business, or law.
The department sponsors several extracurricular activities
in support of the academic program. These include the visiting
scholars' programs under the Northen and Conquest Chair
endowments, the VMI chapter of Omicron Delta Epsilon (the
international honor society in economics), the VMI chapter of
Beta Gamma Sigma (the international honor society in business)
and the Cadet Investment Group that affords actual experience
in securities investments.
Three awards, the Roberts Medal, the Wheat Medal, and the
Philpott Medal, recognize the top graduating seniors in economics
and business studies. Academic Excellence Awards are presented
annually to the top members of the upper three classes.
The Andrew L. McDowell Scholarship is available to cadets
majoring in economics and business. It is based primarily on
academic excellence, although other factors such as need,
character, extracurricular activities, and leadership may be
considered. Applications for this scholarship will be accepted
during the spring semester for awards to be made the following
academic year.
THE ECONOMICS MINOR
The Department of Economics and Business offers a minor in
economics. The economics minor is intended for cadets in other
curricula who wish to supplement their major with a further study
of economic theory. Cadets are required to complete EC 201, EC
202, EC 303*, and four additional economics electives at the 300
or 400 level (these may include EC 300 and EC 330).
To pursue a minor in economics, cadets must obtain the
permission of the Head of the Department of Economics and
Business and the head of the department of their major field.
The necessary application form can be obtained from the Head
of the Department of Economics and Business.
Cadets must maintain an overall 2.0 in the minor and
complete all required course work with a grade of "C" or higher.
All required courses must be taken at VMI. In addition, no more
than two elective courses can be taken at another school.
THE BUSINESS MINOR
The Department of Economics and Business offers a minor
in business. The business minor is intended for those cadets in
other curricula who wish to supplement their major with a general
business orientation.
The discipline of business is concerned with decision making
based upon consideration of costs and benefits. Such decision
making is central to the conduct of both private enterprises and
the public sector of our society. Cadets are required to complete
EC 201 or EC 202, EC 303*, BU 210, BU 220, BU 230, BU 310,
plus one additional course which may include the second of the
EC 201-202 sequence or BU 211, BU 316, BU 330, BU 339.
To pursue a minor in business, cadets must obtain the
permission of the Head of the Department of Economics and
Business and the head of the department of their major field.
The necessary application form can be obtained from the Head
of the Department of Economics and Business.
Cadets must maintain an overall 2.0 in the minor and
complete all required course work with a grade of "C" or higher.
All required courses must be taken at VMI. In addition, no more
than one elective courses can be taken at another school.
THE Concentration
in financial management
The Concentration in Financial Management is designed
for the Economics and Business majors who wish to emphasize
financial issues in their studies. It is also designed to facilitate the
transition to graduate-level work in accounting and finance. This
option does not change the 139 credit hours necessary for the
degree. Economics and Business majors who wish to declare a
Financial Management Concentration must apply in person to the
head of the Department of Economics and Business. They must
also complete BU 411, BU 415, EC 405, and one of the following
courses: BU 305, BU 412, BU 413, EC 421, or EC 430.
*Competency in statistics can be demonstrated by receiving a
"C" or higher in MA 105 and MA 106 or MA 220 or MA 307 or BI
201 in lieu of EC 303.
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