Senate Bill 1819-06
UNIVERSITY SENATE
UNVERSITY AT ALBANY
STATE UNIVERSITY OF NEW YORK
Introduced by:
The Undergraduate Academic Council
University Policy and Planning Council
Date:
December 10, 2018
Proposal to Establish an Undergraduate B.S. in Business Economics
IT IS HEREBY PROPOSED THAT THE FOLLOWING BE ADOPTED:
1. That the University Senate approves the attached program proposal as submitted by the
Department of Economics and approved by UA and UPPC
2. That this takes effect for the Fall 2019 semester.
3. That this proposal be forwarded to President Havidán Rodríguez for approval.
New Program Proposal:
Undergraduate Degree Program
Form 2A
Version 2017-08-28
This form should be used to seek SUNY’s approval and New York State Education Department’s (SED)
registration of a proposed new academic program leading to an associate and/or bachelor’s degree. Approval
and registration are both required before a proposed program can be promoted or advertised, or can enroll
students. The campus Chief Executive or Chief Academic Officer should send a signed cover letter and this
completed form (unless a different form applies1), which should include appended items that may be required
for Sections 1 through 6, 9 and 10 and MPA-1 of this form, to the SUNY Provost at
program.review@suny.edu. The completed form and appended items should be sent as a single, continuously
1 Use a different form if the proposed new program will lead to a graduate degree or any credit-bearing certificate; be a
combination of existing registered programs (i.e. for a multi-award or multi-institution program); be a breakout of a
registered track or option in an existing registered program; or lead to certification as a classroom teacher, school or
district leader, or pupil personnel services professional (e.g., school counselor).
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paginated document.2 If Sections 7 and 8 of this form apply, External Evaluation Reports and a single
Institutional Response should also be sent, but in a separate electronic document. Guidance on academic
program planning is available here.
Table of Contents
NOTE: Please update this Table of Contents automatically after the form has been completed. To do this,
put the cursor anywhere over the Table of Contents, right click, and, on the pop-up menus, select “Update
Field” and then “Update Page Numbers Only.” The last item in the Table of Contents is the List of Appended
and/or Accompanying Items, but the actual appended items should continue the pagination.
Section 1. General Information............................................................................................................................................... 2
Section 2. Program Information.............................................................................................................................................. 4
2.1. Program Format ..................................................................................................................................................
4
2.2. Related Degree Program .....................................................................................................................................
4
2.3. Program Description, Purposes and Planning.....................................................................................................
4
2.4. Admissions .........................................................................................................................................................
9
2.5. Academic and Other Support Services .............................................................................................................
10
2.6. Prior Learning Assessment
................................................................................................................................10
2.7. Program Assessment and Improvement
............................................................................................................10
Section 3. Program Schedule and Curriculum ......................................................................................................................11
Section 4. Faculty ................................................................................................................................................................ 15
Section 5. Financial Resources and Instructional Facilities................................................................................................. 17
Section 6. Library Resources ............................................................................................................................................... 17
Section 7. External Evaluation............................................................................................................................................. 20
Section 8. Institutional Response to External Evaluator Reports ........................................................................................ 20
Section 9. SUNY Undergraduate Transfer .......................................................................................................................... 20
Section 10. Application for Distance Education.................................................................................................................. 21
Section MPA-1. Need for Master Plan Amendment and/or Degree Authorization.............................................................
21
List of Appended and/or Accompanying Items ....................................................................................................................
22
2 This email address limits attachments to 25 MB. If a file with the proposal and appended materials exceeds that limit, it
should be emailed in parts.
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Section 1. General Information
a)
Institutional
Information
Date of Proposal:
Institution’s 6-digit SED Code: 210500
Institution’s Name: University at Albany
Address: 1400 Washington Avenue, Albany NY 12222
Dept of Labor/Regent’s Region: Capital Region
b)
Program
Locations
List each campus where the entire program will be offered (with each institutional or branch campus
6-digit SED Code):
List the name and address of off-campus locations (i.e., extension sites or extension centers) where
courses will offered, or check here [
] if not applicable:
c) Proposed
Program
Information
Program Title: Business Economics
Award(s) (e.g., A.A., B.S.): B.S.
Number of Required Credits: Minimum [120] If tracks or options, largest minimum [
]
Proposed HEGIS Code: 0517
Proposed 6-digit CIP 2010 Code: 45.0601
If the program will be accredited, list the accrediting agency and expected date of accreditation:
If applicable, list the SED professional licensure title(s)3 to which the program leads:
d)
Campus Contact
Name and title: Celine LaValley, Assistant to the Vice Provost for Undergraduate Education
Telephone: 518-442-3950
E-mail:clavalley@albany.edu
e)
Chief Executive
or Chief
Academic
Officer Approval
Signature affirms that the proposal has met all applicable campus administrative and shared governance
procedures for consultation, and the institution’s commitment to support the proposed program. E-
signatures are acceptable.
Name and title: James R. Stellar, Ph. D. Provost and Senior Vice President for Academic Affairs
Signature and date:
If the program will be registered jointly4 with one or more other institutions, provide the following
information for each institution:
Partner institution’s name and 6-digit SED Code:
Name, title, and signature of partner institution’s CEO (or append a signed letter indicating approval
of this proposal):
Attestation and Assurances
On behalf of the institution, I hereby attest to the following:
3 If the proposed program leads to a professional license, a specialized form for the specific profession may need to accompany this proposal.
4 If the partner institution is non-degree-granting, see SED’s CEO Memo 94-04.
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That all educational activities offered as part of this proposed curriculum are aligned with the
institutions’ goals and objectives and meet all statutory and regulatory requirements, including but not
limited to Parts 50, 52, 53 and 54 of the Rules of the Board of Regents and the following specific
requirements:
That credit for study in the proposed program will be granted consistent with the
requirements in §50.1(o).
That, consistent with §52.1(b)(3), a reviewing system has been devised to estimate the
success of students and faculty in achieving the goals and objectives of the program, including the use
of data to inform program improvements.5
That, consistent with §52.2(a), the institution possesses the financial resources necessary to
accomplish its mission and the purposes of each registered program, provides classrooms and other
necessary facilities and equipment as described in §52.2(a)(2) and (3), sufficient for the programs
dependent on their use, and provides libraries and library resources and maintains collections sufficient
to support the institution and each registered curriculum as provided in §52.2(a)(4), including
for the program proposed in this application.
That, consistent with 52.2(b), the information provided in this application demonstrates that
the institution is in compliance with the requirements of §52.2(b), relating to faculty.
That all curriculum and courses are offered and all credits are awarded, consistent with the
requirements of §52.2(c).
That admissions decisions are made consistent with the requirements of §52.2(d)(1) and (2) of
the Regulations of the Commissioner of Education.
That, consistent with §52.2(e) of the Regulations of the Commissioner of Education: overall
educational policy and its implementation are the responsibility of the institution’s faculty and academic
officers, that the institution establishes, publishes and enforces explicit policies as required by
§52.2(e)(3), that academic policies applicable to each course as required by §52.2(e)(4), including
learning objectives and methods of assessing student achievement, are made explicit by the instructor
at the beginning of each term; that the institution provides academic advice to students as required by
§52.2(e)(5), that the institution maintains and provides student records as required by §52.2(e)(6).
That, consistent with §52.2(f)(2) of the Regulations of the Commissioner of Education, the
institution provides adequate academic support services and that all educational activities offered as
part of a registered curriculum meet the requirements established by state, the Rules of the Board of
Regents and Part 52 of the Commissioner’s regulations.
CHIEF ADMINISTRATIVE or ACADEMIC OFFICER/ PROVOST
Signature
Date
Type or print the name and title of signatory
Phone Number
James R. Stellar, Provost and Senior Vice President for Academic Affairs 518-956-8030
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The NY State Education Department reserves the right to request this data at any time and to use such data as part of its evaluation of
future program registration applications submitted by the institution.
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Section 2. Program Information
2.1. Program Format
Check all SED-defined formats, mode and other program features that apply to the entire program.
a) Format(s): [ ]Day [ ]Evening
[ ]Weekend
[ ]Evening/Weekend [ ]Not Full-Time
b) Modes: [ ]Standard [ ]Independent Study [ ]External [ ]Accelerated [ ]Distance Education
NOTE: If the program is designed to enable students to complete 50% or more of the course requirements through
distance education, check Distance Education, see Section 10, and append a Distance Education Format Proposal.
c) Other: [ ] Bilingual [ ] Language Other Than English [ ] Upper Division [ ] Cooperative [ ] 4.5 year [ ] 5 year
2.2. Related Degree Program
NOTE: This section is not applicable to a program leading to an associate’s or a bachelor’s degree.
2.3. Program Description, Purposes and Planning
a) What is the description of the program as it will appear in the institution’s catalog?
Business Economics is a combined major and minor that provides students with both the economic study of resource
allocation and the development of business methods, practices and problem-solving. Students in Business Economics
develop abilities in decision-making, policy analysis and deriving and communicating conclusions based on data in areas of
business activity and services. The flexible program offers students a range of opportunities to develop their interests in
business and economics. The natural combination of economics and business provides students with an enhanced business
background that widens career prospects.
b) What are the program’s educational and, if appropriate, career objectives, and the program’s primary student learning
outcomes (SLOs)? NOTE: SLOs are defined by the Middle States Commission on Higher Education in the
Characteristics of Excellence in Higher Education (2006) as “clearly articulated written statements, expressed in
observable terms, of key learning outcomes: the knowledge, skills and competencies that students are expected to
exhibit upon completion of the program.” Learning objectives:
1. Understand the economic issues and problems faced by individuals, organizations and society, the
economic principles that help explain behavior and the range of institutions that affect the allocation of
resources.
2. Be able to apply methods of economic analysis (such as supply and demand, equilibrium, constrained
optimization and dynamic analysis) to behavior and social phenomena.
3. Have the ability to employ statistical and econometric methods and software in the analysis of economic
data and models.
4. Be prepared for advanced study or employment.
Student Learning Outcomes:
1. The graduate will be able to apply supply and demand analysis to problems.
2. The graduate will understand the relevance of aggregate economic measures such as concepts of national
income, investment and consumption.
3. The graduate will demonstrate the ability to work with and analyze basic financial statements including the
balance sheet, income statement, and statement of cash flows.
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4. The graduate will understand the operation of financial institutions and financial markets, and be able to
determine their impacts.
5. The graduate will be able to communicate competently in a business environment through effective writing
and presentation skills.
6. The graduate will be able to understand applications of information to business functions and be able to
use information technology applications effectively.
7. The graduate will understand the role of monetary and fiscal policy and their impacts on labor and product
markets.
8. The graduate will be able to recognize anticompetitive behavior and understand the legal and ethical
framework in which business organizations operate.
9. The graduate will be able to analyze a business problem to arrive at an effective solution.
c) How does the program relate to the institution’s and SUNY’s mission and strategic goals and priorities? What is the
program’s importance to the institution, and its relationship to existing and/or projected programs and its expected
impact on them? As applicable, how does the program reflect diversity and/or international perspectives? For doctoral
programs, what is this program’s potential to achieve national and/or international prominence and distinction?
The Business Economics degree proposal is related to institutional priorities of student success, diversity and
inclusion, and internationalization (https://www.albany.edu/strategicplan/files/UAlbany-Strategic-Plan-
FinalDraft-March-7-2018.pdf). Student success is enhanced by offering students additional choices in meeting
their academic and career goals. Specifically, students who are seeking more extensive preparation in the area of
business economics than they can get with the existing economics majors can now achieve a degree that provides
them with a better background in the area. Diversity and inclusion are supported by providing students with a
pathway that will increase their chances of success in employment and further professional study.
Internationalization is supported through the department’s relatively large enrollments of foreign students as well
as coursework that provides all students with a global perspective on economic activity, trade and international
business operations.
d) How were faculty involved in the program’s design? Describe input by external partners, if any (e.g., employers and
institutions offering further education?
Faculty from both the Department of Economics and the School of Business were involved in the
development of this proposal. The proposal for the combined Business Economics major and minor grew
out of discussions for increased cooperation between the department and the School of Business in the
compact planning process.
e) How did input, if any, from external partners (e.g., educational institutions and employers) or standards influence the
program’s design? If the program is designed to meet specialized accreditation or other external standards, such as the
educational requirements in Commissioner’s Regulations for the Profession, append a side-by-side chart to show how
the program’s components meet those external standards. If SED’s Office of the Professions requires a specialized form
for the profession to which the proposed program leads, append a completed form at the end of this document.
f) Enter anticipated enrollments for Years 1 through 5 in the table below. How were they determined, and what
assumptions were used? What contingencies exist if anticipated enrollments are not achieved?
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5
Year
Anticipated Headcount Enrollment
Estimated
FTE
Full-time
Part-time
Total
1
80
80
80
2
80
80
80
3
90
90
90
4
110
110
110
5
130
130
130
The basis for enrollment projections is as follows. In the Spring of 2015, 102 out of 144 economics majors graduating
with a BA chose a business minor, and 16 out of 33 economics majors graduating with a BS chose a business minor.
There were 445 economics BA majors in the Fall of 2016. Since all courses taken by economics BA majors with business
minors would count towards the combined degree, it would be very easy for these students to switch to the combined
degree, and we project that 20 percent would choose to do so. We expect an additional twenty students who would
otherwise not be majoring in economics, so that the combined number would be .2 times 445 times 102/144 + 20 =
63+20, rounded to 80 above. In the fifth year, with the entry of new students who could choose the combined degree from
the beginning and with the diffusion of information about the new program, the number of students in the program who
would have otherwise have chosen the BA degree would rise to .3 times projected BA enrollment in the absence of the
program (assumed to continue at 445), plus 40 students who would otherwise not be majoring in economics at Albany.
This yields .3 times 445 times 102/144 plus 40 = 95+40, rounded to 130 above. The division between full-time and
parttime is not known. Note that some of the enrollments come from students shifting between types of economics
degrees, and the net increase in majors is 20 in the first year and 60 in the fifth year.
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g) Outline all curricular requirements for the proposed program, including prerequisite, core, specialization (track,
concentration), internship, capstone, and any other relevant component requirements, but do not list each General
Education course.
Course Title
Credits
Course Title
Credits
Required Economics
Business Electives choose 3 from:
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AECO 110 Microeconomics
3
BACC 222 Cost Accounting Systems for
Managerial Decisions
AECO 111 Macroeconomics
3
BFIN 300 Financial Management
AECO 300 Intermediate Microeconomics
3
BLAW 321 Law of Business Organizations
AECO 301 Intermediate
Macroeconomics
3
BMKT 310 Marketing Principles
AECO 320 Economic Statistics
3
BMGT 341 Behavioral Foundations of
AECO 374 or 374W Industrial
Organization or AECO 380
Contemporary Economic Issues:
Industrial Organization
3
BITM 330 Improving Business
Performance w/Information Technologies
AECO 466W Financial Economics
3
Economics Electives
Calculus: choose from AECO 210,
AMAT 106, 112 or 118
3
Choose 2 Economics courses at 300-level
or higher
6
Required Business
Additional Electives
9
BFIN 210 Personal Finance
3
Choose 3 additional courses from economic
electives at the 300 level or higher or from
the business electives listed above, or from
up to 6 transfer credits for business
electives
BACC 211 Financial Accounting
3
BITM 215 Information Technologies
3
Total Credits
60
BLAW 200 Legal Environment of
Business or BLAW 220 Business Law
3
h) Program Impact on SUNY and New York State
h)(1) Need: What is the need for the proposed program in terms of the clientele it will serve and the educational and/or
economic needs of the area and New York State? How was need determined? Why are similar programs, if any,
not meeting the need?
For current and future students, the proposed program will expand the disciplinary opportunities open to them and
increase their flexibility in planning their academic careers. Students seeking more business preparation than they
could get with the current economic BA and BS majors will benefit by being able to choose a program which is
more closely related to their academic interests and which better reflects their academic preparation to prospective
employers. Students seeking to transfer to the University at Albany with business studies at other institutions
(particularly SUNY associate degree programs) may benefit by having more of their transfer credits count towards
major and minor requirements because up to six credits transferring in as business electives will count towards the
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proposed Business Economics degree. For these students, the proposed program will also make it easier for them
to complete the degree requirements in a timely fashion. Students who are not continuing in the School of
Business may have more credits than they need for a business minor, and they could apply the extra business
credits towards 7
the proposed Business Economics degree. For these students, the availability of the proposed program will
increase the attractiveness of completing their degrees at the University at Albany. For some prospective students
considering the University at Albany, the Business Economics degree will offer them a program that is better than
their alternatives.
For New York State and the upstate region, providing a workforce educated in business economics contributes to
the retention and growth of economic activity. Information specific to New York State is provided in “Education
Report for Business/Managerial Economics; New York” prepared in 2017 by Chmura Economics & Analytics
(http://www.chmuraecon.com/jobseq), available attached appendix 1. The report indicates that in 2016 there were
361 degrees awarded in the state for the Business/Managerial Economics Classification of Instructional Programs
code 52.0601, defined as:
“A program that focuses on the application of economics principles to the analysis of the organization and
operation of business enterprises. Includes instruction in monetary theory, banking and financial systems,
theory of competition, pricing theory, wage and salary/incentive theory, analysis of markets, and
applications of econometrics and quantitative methods to the study of particular businesses and business
problems.”
The report links occupations to this instructional code and forecasts growth from 3267 in the linked occupations in
2016 to 3413 ten years later. It is likely that many occupations for graduates of Business Economics programs lie
outside the linked occupations in the study (economists, survey researchers and postsecondary economics
teachers). Graduates with economics degrees have general skills in decision-making and data analysis that are
useful in many occupations and are seldom employed in an occupation with the title of “economist.” This is
confirmed by the range of employment areas for graduates with economics degrees in the survey of University at
Albany alumni, “First Destination Survey Data 2016-2017,” prepared by the Office of Institutional Research,
Planning, & Effectiveness, Feb. 7, 2018. In the study, the major fields for Albany economics graduates were
finance and banking (24.2%), sales (21.2%), other (21.2%), management (9.1%), and government (9.1%). These
graduates are unlikely to carry the job title “economist.” Nevertheless, the survey indicates that the career
preparation in Business Economics would be highly advantageous and relevant in the employment areas where
current graduates obtain jobs.
h)(2) Employment: For programs designed to prepare graduates for immediate employment, use the table below to list
potential employers of graduates that have requested establishment of the program and state their specific number of
positions needed. If letters from employers support the program, they may be appended at the end of this form.
Employer
Need: Projected positions
In initial year
In fifth year
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h)(3)
Similar Programs: Use the table below to list similar programs at other institutions, public and independent, in
the service area, region and state, as appropriate. Expand the table as needed. NOTE: Detailed program-level
information for SUNY institutions is available in the Academic Program Enterprise System (APES) or Academic
Program Dashboards. Institutional research and information security officers at your campus should be able to
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help provide access to these password-protected sites. For non-SUNY programs, program titles and degree
information – but no enrollment data – is available from SED’s Inventory of Registered Programs.
Institution
Program Title
Degree
Enrollment
SUNY Oneonta B.S.
Business Economics
B.S.
575
SUNY Cortland
Business Economics
B.S.
355
SUNY Cortland
Business Economics
B.A.
50
SUNY Potsdam
Business Economics
B.A.
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h)(4) Collaboration: Did this program’s design benefit from consultation with other SUNY campuses? If so, what
was that consultation and its result?
h)(5) Concerns or Objections: If concerns and/or objections were raised by other SUNY campuses, how were they
resolved? No concerns or objections were raised during the comment period.
h)(6)
Undergraduate Transfer: The State University views as one of its highest priorities the facilitation of transfer for
undergraduate students. To demonstrate adequate planning for transfer under SUNY’ s s t udent mobi l it y policy
, Section 9 of this form on SUNY Undergraduate Transfer must be completed for programs leading to Associate
in Arts (A.A.) and Associate in Science (A.S.) and for baccalaureate programs anticipating transfer enrollment.
2.4. Admissions
a) What are all admission requirements for students in this program? Please note those that differ from the institution’s
minimum admissions requirements and explain why they differ.
In addition to undergraduate admission requirements for the University at Albany, the Department of Economics
requires that students achieve a C or better in the two principles courses, AECO 110, Principles of
Microeconomics, and AECO 111, Principles of Macroeconomics. The purpose of these requirements is to ensure
that students have the necessary background to succeed in an economics major and is not intended to limit access
to the discipline. Department advisors work with students to advise them on strategies for meeting the
requirements and suggest adjustments to their academic schedules that will allow them to complete their degrees
in economics on time.
b) What is the process for evaluating exceptions to those requirements?
The department’s Director of Undergraduate Studies reviews exceptions to the requirements on a case-by-case
basis. If a student receives a C- in one of the principles courses and a B- in the other, an exception will typically
be granted.
c) How will the institution encourage enrollment in this program by persons from groups historically underrepresented in
the institution, discipline or occupation? Undergraduate economic enrollment reflects the University’s dedication
to serving historically underrepresented racial and ethnic groups as well as first generation college students.
The Business Economics major will enhance the department’s opportunities to attract first generation college
students and historically underrepresented groups by offering an alternative path to meet their academic and
career goals. A major opportunity lies with our faculty and other instructors teaching the principles courses,
who can share the department’s personal and disciplinary commitment to diversity and inclusion with
prospective majors. The University offers several
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occasions including Scholar Days, Open Houses and the Closer Look program when department faculty and
advisors can meet with persons from groups historically underrepresented. Additionally, the department now
has a full-time Academic Advisor who is committed to outreach programs to encourage enrollments from
historically underrepresented groups. Both the Academic Advisor and Director of Undergraduate Studies will
work with the Educational Opportunities Program, the Albany Academic Advisement Center, and the recently
established UAlbany Community for Academic Advising to make sure that the advantages of the Business
Economics major are communicated to underrepresented groups and first generation students.
2.5. Academic and Other Support Services
Summarize the academic advising and support services available to help students succeed in the program.
Advisement services for students in the proposed Business Economics program are located in the University at
Albany Academic Advisement Center, which advises students before they declare a major, and within the
Department of Economics from the department’s dedicated Academic Advisor. The department will work with
our contact at the Academic Advisement Center to provide information about the proposed program as well as
the requirements and recommended sequence of courses for prospective students. The department’s Academic
Advisor meets with all current and prospective economics majors to provide academic and course advice and
would provide students with information on the choices among economics degree programs. Additionally,
economics faculty meet with economics majors to provide guidance for careers and professional or graduate
study.
Academic support for students in the proposed program would come from several sources. The department
provides free tutoring for students in the two principles courses, AECO 110 and AECO 111, as well as two of the
required core courses, AECO 300, Intermediate Microeconomics, and AECO 301, Intermediate
Macroeconomics. Individual faculty and instructors hold office hours for students seeking academic assistance in
their courses. Academic support is also available through the Office of Access & Academic Enrichment, which
holds study groups for different courses as well as workshops on methods for academic success. For students
approaching graduation, Career Services offers services including access to campus visits by employers and
preparation for job search.
2.6. Prior Learning Assessment
If this program will grant credit based on Prior Learning Assessment, describe the methods of evaluating the learning and
the maximum number of credits allowed, or check here [X] if not applicable.
2.7. Program Assessment and Improvement
Describe how this program’s achievement of its objectives will be assessed, in accordance with SUNY policy, including the
date of the program’s initial assessment and the length (in years) of the assessment cycle. Explain plans for assessing
achievement of students learning outcomes during the program and success after completion of the program. Append at
the end of this form, a plan or curriculum map showing the courses in which the program’s educational and, if
appropriate, career objectives – from Item 2.3(b) of this form – will be taught and assessed. NOTE: The University Faculty
Senate’s Guide for the Evaluation of Undergraduate Programs is a helpful reference.
Please see Appendix 2 for the Curriculum Map.
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The Department of Economics programs are evaluated on a seven-year cycle and the department prepared its
selfstudy for the evaluation last year. The Department of Economics also has in place yearly assessment
procedures for its two undergraduate degree programs, the Bachelor of Arts in Economics and the Bachelor of
Science in Economics. The proposed Bachelor of Science in Business Economics combined major and minor will
have
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Learning Objectives common to the other economics degrees but with a separate set of learning outcomes so that
assessment will be differentiated among the degrees. Procedures for assessment of the current degrees involve
observing whether specific learning outcomes are achieved in selected courses, for example by whether questions
specific to the learning outcomes are answered correctly. Assessment proceeds on a cycle of three years, directed
towards principles courses, core courses and upper level elective courses.
In addition to the learning outcomes for specific courses, the department has a plan to provide competencies to its
graduates in critical thinking, information literacy, oral discourse and writing discourse. Critical thinking and
information literacy are provided through a number of courses that are taken by current economics majors and
will be taken by students in the proposed Business Economics program (for example, critical thinking in AECO
300, Intermediate Microeconomics, and AECO 301, Intermediate Macroeconomics). Oral and writing discourse
competencies are explicitly provided in a course designated with a W suffix to the course number. For the
proposed Business Economics major, all students will be required to take AECO 466W, Financial Economics, to
satisfy the requirement for oral and written competencies. These competencies will be assessed separately for
Business Economics based on outcomes in that course.
Section 3. Program Schedule and Curriculum
Complete the SUNY Undergraduate Program Schedule to show how a typical student may progress through the program.
This is the registered curriculum, so please be precise. Enter required courses where applicable, and enter generic course
types for electives or options. Either complete the blank Schedule that appears in this section, or complete an Excel
equivalent that computes all sums for you, and can be found here. Rows for terms that are not required can be deleted.
NOTES: The Undergraduate Schedule must show all curricular requirements and demonstrate that the program conforms
to SUNY’s and SED’s policies.
•
It must show how a student can complete all program requirements within SUNY credit limits, unless a longer period is
selected as a format in Item 2.1(c): two years of full-time study (or the equivalent) and 64 credits for an associate
degree, or four years of full-time study (or the equivalent) and 126 credits for a bachelor’s degree. Bachelor’s degree
programs should have at least 45 credits of upper division study, with 24 in the major.
•
It must show how students in A.A., A.S. and bachelor’s programs can complete, within the first two years of full-time
study (or 60 credits), no fewer than 30 credits in approved SUNY GER courses in the categories of Basic
Communication and Mathematics, and in at least 5 of the following 8 categories: Natural Science, Social Science,
American History, Western Civilization, Other World Civilizations, Humanities, the Arts and Foreign Languages
It must show how students can complete Liberal Arts and Sciences (LAS) credits appropriate for the degree.
•
When a SUNY Transfer Path applies to the program, it must show how students can complete the number of SUNY
Transfer Path courses shown in the Transfer Path Requirement Summary within the first two years of full-time study (or
60 credits), consistent with SUNY’s Student Seamless Transfer policy and MTP 2013-03.
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Requests for a program-level waiver of SUNY credit limits, SUNY GER and/or a SUNY Transfer Path require the
campus to submit a Waiver Request –with compelling justification(s).
EXAMPLE FOR ONE TERM: Undergraduate Program Schedule
Term 2: Fall 20xx
Credits per classification
Course Number & Title
Cr
GER
LAS Maj TPath
New
Prerequisite(s)
ACC 101 Principles of Accounting
4
4
4
11
MAT 111 College Mathematics
3
M
3
3
MAT 110
CMP 101 Introduction to Computers
3
HUM 110 Speech
3
BC
3
X
ENG 113 English 102
3
BC
3
Term credit total:
16
6
9
7
4
Special Cases for the Program Schedules:
•
For a program with multiple tracks or with multiple schedule options (such as full-time and part-time options), use one
Program Schedule for each track or schedule option. Note that licensure qualifying and non-licensure qualifying
options cannot be tracks; they must be separate programs.
•
When this form is used for a multi-award and/or multi-institution program that is not based entirely on existing
programs, use the schedule to show how a sample student can complete the proposed program. NOTE: Form 3A,
Changes to an Existing Program, should be used for new multi-award and/or multi-institution programs that are based
entirely on existing programs.
•
SUNY policy governs the awarding of two degrees at the same level.
•
Minors require neither SUNY approval nor SED registration.
a)
If the program will be offered through a nontraditional schedule (i.e., not on a semester calendar), what is the
schedule and how does it impact financial aid eligibility? NOTE: Consult with your campus financial aid administrator for
information about nontraditional schedules and financial aid eligibility.
b)
For each existing course that is part of the proposed undergraduate major (including cognates and restricted
electives, but not including general education), append a catalog description at the end of this document,.
Please see Appendix 3.
c)
For each new course in the undergraduate program, append a syllabus at the end of this document. NOTE:
Syllabi for all courses should be available upon request. Each syllabus should show that all work for credit is college level
and of the appropriate rigor. Syllabi generally include a course description, prerequisites and corequisites, the number of
lecture and/or other contact hours per week, credits allocated (consistent with SUNY policy on credit/contact hours), general
course requirements, and expected student learning outcomes.
of
14
16
d)
If the program requires external instruction, such as clinical or field experience, agency placement, an internship,
fieldwork, or cooperative education, append a completed External Instruction form at the end of this document.
12
SUNY Undergraduate Program Schedule (OPTION: You can paste an Excel version of this schedule AFTER this line, and delete the rest of this page.)
Program/Track Title and Award: Business Economics B.S.
Indicate academic calendar type: [X ] Semester [ ] Quarter [ ] Trimester [ ] Other (describe):
Label each term in sequence, consistent with the institution’s academic calendar (e.g., Fall 1, Spring 1, Fall 2)
Name of SUNY Transfer Path, if one exists:
See Transfer Path Requirement Summary for details
Use the table to show how a typical student may progress through the program; copy/expand the table as needed. Complete all columns that apply to a course.
Fall 1:
See KEY.
Spring1:
See KEY.
Course Number & Title
Cr GER LAS Maj TPath New Co/Prerequisi Course Number & Title Cr GER LAS Maj TPath New Co/Prerequisites
AECO 110 Microeconomics - R
3
SS
3
3
tes
AECO 111
Macroeconomics - R
3
SS
3
3
Calculus: AMAT 106 or 112 or
118 or AECO 210 - R
3
M
3
3
BFIN 210 Personal
Finance -R
3
3
AECO 110
Arts Gen Ed -RE
3
AR
3
BLAW 200 Legal
Environment of Bus or
BLaw 220 Business Law -
R
3
3
3
Free Elective-RE
3
Basic Communication
Gen Ed-RE
3
BC
3
Humanities Gen Ed-FE
3
H
3
Int Perspectives Gen Ed -
RE
3 OW
3
Term credit
15
12
12
6
Term credit
15
9
12
9
Fall 2:
Course Number & Title
Cr
S
GER
ee KE
LAS
Y.
Maj
TPath
New Co/Prerequisi
tes
Spring 3:
See KEY.
Course Number & Title Cr GER LAS Maj TPath New Co/Prerequisites
BAC 211 Financial Accounting
R
3
3
Soph or higher AECO 301 Intermed
Macro-R
3
3
3
AECO 110, 111, Calc
BITM
215
Information
Technologies -R
3
3
Soph or higher Business Elective 1 of 3*-
RE
3
3
AECO 300 Intermediate
Microeconomics -R
3
3
3
ECO 110, 111,
Calc
300-level Economics
Elective 1 of 2-RE
3
3
3
Natural Science Gen Ed Elective
-RE
3
NS
3
General Ed Elective -RE
3
AH
3
Foreign
Language
Gen
Ed
Elective -RE
3
FL
3
Free Elective-FE
3
Term credit
15
6
9
9
Term credit
15
3
9
9
Fall 3:
Course Number & Title
Cr
S
GER
ee KE
LAS
Y.
Maj
TPath
New
Co/Prerequisi
tes
Spring 3:
See KEY.
Course Number & Title Cr GER LAS Maj TPath New Co/Prerequisites
13
13
18
Section 4. Faculty
a) Complete the SUNY Faculty Table on the next page to describe current faculty and to-be-hired (TBH) faculty.
b) Append at the end of this document position descriptions or announcements for each to-be-hired faculty member.
NOTE: CVs for all faculty should be available upon request. Faculty CVs should include rank and employment status,
educational and employment background, professional affiliations and activities, important awards and recognition,
publications (noting refereed journal articles), and brief descriptions of research and other externally funded projects.
New York State’s requirements for faculty qualifications are in Regulation 52.2
http://www.highered.nysed.gov/ocue/lrp/rules.htm.
c) What is the institution’s definition of “full-time” faculty?
A full time faculty member is one who holds an appointment with a 100% time commitment.
15
SUNY Faculty Table
Provide information on current and prospective faculty members (identifying those at off-campus locations) who will be expected to teach any course in the
major.
Expand the table as needed. Use a separate Faculty Table for each institution if the program is a multi-institution program.
(a)
(b)
(c)
(d)
(e)
(
Faculty Member Name and
Title/Rank
(Include and identify Program
Director with an asterisk.)
% of Time
Dedicated
to This
Program
Program
Courses Which May
Be Taught (Number
and Title)
Highest and Other
Applicable Earned
Degrees (include
College or
University)
Discipline(s) of
Highest and Other
Applicable
Earned Degrees
Additional Qualifications:
List related certifications,
licenses and professional
PART 1. Full-Time Faculty
Assoc. Prof. Pinka Chatterji
12.5%
AECO110
PhD, Johns Hopkins Economics
Lecturer Kenneth Bulko
12.5%
AECO 111
J.D, Albany Law
Law
Assoc. Prof. Baris Yoruk
6.25%
AECO 300
PhD, Boston College Economics
Assoc. Prof. Laurence Kranich
6.25%
AECO 300
PhD, U Rochester
Economics
Assistant Prof. Yue Li
6.25%
AECO 301
PhD, U Pittsburgh
Economics
Prof. Betty Daniel
6.25%
AECO 301
PhD, UNC
Economics
Lecturer Lewis Segal
12.5%
AECO 320, 466W PhD, Northwestern U Economics
Assistant Prof. Byoung Park
6.25%
AECO 320
PhD, Yale
Economics
Assistant Prof. Daiqiang Zhang
6.25%
AECO 380
PhD, Texas A&M
Economics
Assistant Prof. Chun-Yu Ho
12.5%
AECO 380, 374
PhD, Boston U
Economics
Prof. Michael Sattinger*
6.25%
Ph.D., CMU
Economics
Lecturer Michelle Moshier
5%
BACC 211
M.S., U Hartford
Accounting
Lecturer Marisa Beth Lester
5%
BACC 222
M.S., UAlbany
Accounting
Lecturer Mary Wladowski
5%
BFIN 300
Ph.D,, Northcentral U Bus. Adm.
Lecturer Ethan Sprissler
5%
BITM 215
M.S,, UAlbany
Lecturer Joseph Sheehan
5%
BLAW 200, 220
J.D,, Albany Law
Law
Lecturer Paul Morgan Jr.
5%
BLAW 220
J.D,, Albany Law
Law
Visit. Asst. Prof. Martin Fogelman 5%
BMGT 341
Ph.D., UAlbany
Info Science
Lecturer Heidi Reale
5%
BMKT 310
M.B.A., RPI
Marketing
Assoc. Prof. Jakov Crnkovic
5%
BITM 330
Ph.D., U Belgrade
Economics
Part 2. Part-Time Faculty
Part 3. Faculty To-Be-Hired (List as
TBH1, TBH2, etc., and provide
title/rank and expected hiring date.)
16
21
Section 5. Financial Resources and Instructional Facilities
a) What is the resource plan for ensuring the success of the proposed program over time? Summarize the
instructional facilities and equipment committed to ensure the success of the program. Please explain new
and/or reallocated resources over the first five years for operations, including faculty and other personnel, the
library, equipment, laboratories, and supplies. Also include resources for capital projects and other expenses.
No new economics faculty would be needed during the next 3 years. A recent hire, Dr. Lewis Segal, would handle
anticipated increases in AECO 466 enrollment. Most of the enrollment in the new program would come from
enrollment in existing economics major programs, with some additional net enrollments arising from students
staying at UAlbany for the program instead of leaving, entering UAlbany because of the program, or choosing
Business Economics over majors outside of economics. Net increases in economics enrollments are projected to
be 20 in the first year, rising to 60 in year 5. Assuming actual net enrollments are no more than fifty percent
beyond the projected enrollment increases, economics faculty hiring beyond currently planned levels would not be
required. Prof. Stessin in the mathematics department projects a net increase in mathematics enrollment of 80 by
the fifth year with a cost for four additional adjunct lines of $20,000 at that time. The Office of the Dean of the
School of Business has indicated that a net increase in School of Business course enrollments of 180 credit hours
may require an additional appropriately qualified research-active faculty member. This concern is not reflected in
the SUNY Program Expenses Table below since no specific personnel expense estimates were provided.
b) Complete the five-year SUNY Program Expenses Table, below, consistent with the resource plan summary.
Enter the anticipated academic years in the top row of this table. List all resources that will be engaged
specifically as a result of the proposed program (e.g., a new faculty position or additional library resources). If
they represent a continuing cost, new resources for a given year should be included in the subsequent year(s),
with adjustments for inflation or negotiated compensation. Include explanatory notes as needed.
SUNY Program Expenses Table
(OPTION: You can paste an Excel version of this schedule AFTER this sentence, and delete the table below.)
Program Expense
Categories
Before
Start
Academic
Year 1
Academic
Year 2
Academic
Year 3
Academic
Year 4
Academic
Year 5
(a)
Personnel
(including
faculty and all
others
$5000
$5000
$10,000
$15,000
$20,000
(b) Library
(c) Equipment
(d) Laboratories
(e) Supplies
(f) Capital
Expenses
(g) Other (specify)
(h) Sum of Rows
Above
$5,000
$5,000
$10,000
$15,000
$20,000
17
Section 6. Library Resources
a)
Summarize the analysis of library collection resources and needs for this program by the collection
librarian and program faculty. Include an assessment of existing library resources and accessibility to those
22
resources for students enrolled in the program in all formats, including the institution’s implementation of
SUNY Connect, the SUNY-wide electronic library program.
The University Libraries collect materials in the field of economics to support the undergraduate program, the
graduate program (both Master's and Ph.D. levels), and the individual research of faculty and students. The
collections also support coursework and research in the Department of Finance. The focus of the collection is on
the traditional fields of economics, including microeconomics, macroeconomics, econometrics, international
economics, development economics, labor economics, mathematical economics, monetary economics, public
finance, game theory, and regulatory economics.
Materials in all formats are selected for the economics collection. Monographs and serials comprise the majority
of materials. Particularly important are the "working papers" series published by a number of universities and
research agencies, which present the first reports of research in the field. Since the government collects, analyzes,
and publishes a large amount of economic information, government documents are an essential part of the
collection, particularly the publications of the Department of Commerce and the Department of Labor.
Electronic datasets are important for research in the field of economics. The library acquires datasets as
requested, including those belonging to the ICPSR collection, Datastream, Bloomberg, and Compustat database.
The library has fully implemented SUNY Connect. On occasion, when students request materials not in the library
collection, the library routinely obtains these materials, at no charge to the student, via interlibrary loan, or
purchase on demand. In the case of interlibrary loan, requests are frequently fulfilled electronically in 24 hours or
fewer.
The Library acquires print and electronic materials for Economics at the Research and Advanced Levels, defined as
follows:
RESEARCH LEVEL: A collection that includes a very extensive collection of general and specialized
monographs and reference works; a very extensive collection of general and specialized periodicals; extensive
collections of appropriate foreign language materials; extensive collections of the works of well-known authors
as well as other important but lesser-known authors; defined access to a very extensive collection of owned or
remotely accessed electronic resources, including bibliographic tools, texts, data sets, journals, etc. A collection
that includes the major published source materials required for dissertation and independent research, including
materials containing research reporting, new findings, scientific experimental results, and other information
useful to researchers. It is intended to include all important reference works and a wide selection of specialized
monographs, as well as a very extensive collection of journals and major indexing and abstracting services in the
field. Pertinent foreign language materials are included. Older material is usually retained for historical research
and actively preserved. A collection at this level supports doctoral and other original research.
ADVANCED STUDY OR INSTRUCTIONAL SUPPORT LEVEL: The advanced subdivision of level 3
provides resources adequate for imparting and maintaining knowledge about the primary and secondary topics of
a subject area. The collection includes a significant number of seminal works and journals on the primary and
secondary topics in the field; a significant number of retrospective materials; a substantial collection of works by
secondary figures; works that provide more in-depth discussions of research, techniques, and evaluation. This
level collection can support master's degree level programs as well as other specialized inquiries such as those of
subject professionals within special libraries.
18
Within these levels, the acquisitions are in the following areas:
•
Research Level o Economic
Theory o Mathematical
Economics o Econometrics o
Labor Economics o
23
International Economics o
Development Economics o
Monetary Economics o Public
Finance o Regulatory
Economics
•
Instructional Level, Advanced
o Economic History
The Library acquires print and electronic materials for Business/Finance at the following relevant levels:
•
Instructional Level, Advanced
o Financial Theory o Capital
Markets
o Financial Institutions o
Commercial Banking o
Investment Banking
This classification is based upon the University Libraries Collection Development Policy.
The Library subscribes or provides access to approximately 6719 serials and 83790 monographs for Business, Finance,
or Economics.
Graduate students in Business or Economics also utilize a great number of interdisciplinary resources from other
disciplines that have relevance for their research. For example, political science (political economy, both domestic and
international), sociology (population and development), mathematics, computer science and others.
Below is a breakdown of expenditures in Business and Economics for the past three years:
b)
Describe the institution’s response to identified collection needs and its plan for library development
19
The libraries have robust collections in Business, Economics, and Finance. We expect Business and Economics collections
to support the Business Economics major without significant realignment. We expect level of collection in each discipline
to remain unchanged.
Section 7. External Evaluation
SUNY requires external evaluation of all proposed bachelor’s degree programs, and may request an evaluation for a
proposed associate degree or certificate program in a new or emerging field or for other reasons.
24
Is an external evaluation required? [ ] No [ X ] Yes
If yes, list below all SUNY-approved evaluators who conducted evaluations (adding rows as needed), and
append at the end of this document each original, signed External Evaluation Report. NOTE: To select
external evaluators, a campus sends 3-5 proposed evaluators’ names, titles and CVs to the assigned SUNY
Program Reviewer, expresses its preferences and requests approval.
Evaluator #1
Name: Dr. Kenneth Kuttner Ph.D.
Title: Professor and Chair
Department of Economics
Institution: Williams College
Evaluator #2
Name: Dr. Frank Caliendo, Ph.D.
Title: Professor and Department Head,
Department of Economics and Finance
Institution: Utah State University
Section 8. Institutional Response to External Evaluator Reports
As applicable, append at the end of this document a single Institutional Response to all External Evaluation
Reports.
Section 9. SUNY Undergraduate Transfer
The State University views as one of its highest priorities the facilitation of transfer.
a) For a proposed Associate in Arts (A.A.) or an Associate in Science (A.S.) degree, demonstrate that the
program’s graduates will be able to transfer into at least two parallel SUNY baccalaureate programs and
complete them within two additional years of full-time study, per SUNY policy, by listing the transfer
institutions below and appending at the end of this document:
two completed S UNY Transfer Course Equivalency Tables, one for each transfer institution; and
a letter from the Chief Academic Officer of each transfer institution asserting acceptance of the completed
Transfer Course Equivalency Table.
Program proposals must include two articulation agreements with parallel programs. Every effort should
be made to obtain two SUNY articulation agreements for this requirement. In the event that such
articulations are not possible, campuses are encouraged to work with their campus reviewer to find
appropriate alternatives.
Baccalaureate Degree Institution
Baccalaureate Program SED Code and Title
Degree
20
b) For a proposed baccalaureate program, document articulation with at least two parallel SUNY associate
degree programs for seamless transfer, by appending documentation of articulation, such as SUNY Transfer
Course Equivalency Tables and/or letters of support from Chief Academic Officers at associate degree
institutions or their designees. If transfer does not apply to this program, please explain why.
Associate Degree Institution
Associate Program SED Code and Title
Degree
Fulton Montgomery Community
College
82458, Liberal Arts and Sciences: General
Studies
A.A.
Mohawk Valley Community College
79636, Liberal Arts and Sciences: General
Studies
A.S.
NOTE: Transfer course equivalency tables are needed, despite SUNY Transfer Paths, to ensure that all courses in
an A.A. or A.S. program will be accepted for transfer. Official SED program titles and codes can be found on
NYSED’s Inventory of Registered Programs here.
25
Section 10. Application for Distance Education
a)
Does the program’s design enable students to complete 50% or more of the course requirements through
distance education? [X] No [ ] Yes. If yes, append a completed SUNY Distance Education Format
Proposal at the end of this proposal to apply for the program to be registered for the distance education format.
b)
Does the program’s design enable students to complete 100% of the course requirements through distance
education? [ X ] No [ ] Yes
Section MPA-1. Need for Master Plan Amendment and/or Degree Authorization
a) Based on guidance on Master Plan Amendments, please indicate if this proposal requires a Master Plan
Amendment.
[ X ] No [ ] Yes, a completed Master Plan Amendment Form is appended at the end of this proposal.
b) Based on SUNY Guidance on Degree Authorizations (below), please indicate if this proposal requires degree
authorization.
[X ] No [ ] Yes, once the program is approved by the SUNY Provost, the campus will work with its Campus Reviewer
to draft a resolution that the SUNY Chancellor will recommend to the SUNY Board of Trustees.
SUNY Guidance on Degree Authorization. Degree authorization is required when a proposed program will
lead to a new
degree (e.g., B.F.A., M.P.H.) at an existing level of study (i.e., associate, baccalaureate,
firstprofessional, master’s, and doctoral) in an existing disciplinary area at an institution. Disciplinary areas are
defined by the New York State Taxonomy of Academic Programs. Degree authorization requires approval by the
SUNY Provost, the SUNY Board of Trustees and the Board of Regents.
21
List of Appended and/or Accompanying Items
a) Appended Items: If materials required in selected items in Sections 1 through 4 and Sections 9, 10 and
MPA-1 of this form apply to this proposal, they should be appended as part of this document, after this
page, with continued pagination. In the first column of the chart below, please number the appended
items, and append them in number order.
Number
Appended Items
Reference Items
For multi-institution programs, a letter of approval from partner
institution(s)
Section 1, Item (e)
For programs leading to professional licensure, a side-by-side chart
showing how the program’s components meet the requirements of
specialized accreditation, Commi ss i oner’ s Regulations for the
Profession, or other applicable external standards
Section 2.3, Item (e)
For programs leading to licensure in selected professions for which
the SED Office of Professions (OP) requires a specialized form, a
completed version of that form
Section 2.3, Item (e)
26
OPTIONAL: For programs leading directly to employment, letters of
support from employers, if available
Section 2, Item 2.3 (h)(2)
1
Education Report
Section 2, Item 2.3 (h)(1)
2
For all programs, a plan or curriculum map showing the courses in
which the program’s educational and (if appropriate) career objectives
will be taught and assessed
Section 2, Item 7
3
For all programs, a catalog description for each existing course that is
part of the proposed undergraduate major (including cognates and
restricted electives)
Section 3, Item (b)
For all programs with new courses in the major, syllabi for all new
courses in a proposed undergraduate major
Section 3, Item (c)
For programs requiring external instruction, a completed External
Instruction Form and documentation required on that form
Section 3, Item (d)
For programs that will depend on new faculty, position descriptions or
announcements for faculty to-be-hired
Section 4, Item (b)
4
For all A.A. and A.S. programs, Transfer Equivalency Tables and
letters of support from at least two SUNY baccalaureate institutions;
for baccalaureate programs that anticipate transfer student
enrollment, documentation of seamless transfer with at least two SUNY
two-year programs
Section 9
For programs designed to enable students to complete at least 50% of
the course requirements at a distance, a Distance Education Format
Proposal
Section 10
For programs requiring an MPA, a Master Plan Amendment Form
Section MPA-1
b) Accompanying Items - External Evaluations and Institutional Response: If Sections 7 and 8 of this
form indicate that external evaluation is required as part of this proposal, please send a separate electronic
document to program.review@suny.edu that contains the original, signed External Evaluation Reports and
a single Institutional Response to all reports. The file name should indicate the campus, program title,
award and content of the file (e.g., BuffaloU-English-PhD-ExEval).
22
University at Albany
New Program Proposal
BS in Business Economics
Appendix 1 Education Report
27
October 13, 2017
Education Report for
Business/Managerial Economics
New York
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
28
DEFINITION OF BUSINESS/MANAGERIAL ECONOMICS, CIP 52.0601 .......................................................................................... 3
AWARDS .................................................................................................................................................................................... 3
OCCUPATION CROSSWALK ......................................................................................................................................................... 4
OCCUPATION DETAILS ................................................................................................................................................................ 5
EMPLOYMENT BY INDUSTRY ...................................................................................................................................................... 6
GEOGRAPHIC DISTRIBUTION ...................................................................................................................................................... 8
DEMOGRAPHIC PROFILE ............................................................................................................................................................ 9
FAQ .......................................................................................................................................................................................... 10
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
29
2
Definition of Business/Managerial Economics, CIP 52.0601
A program that focuses on the application of economics principles to the analysis of the organization and operation of
business enterprises. Includes instruction in monetary theory, banking and financial systems, theory of competition,
pricing theory, wage and salary/incentive theory, analysis of markets, and applications of econometrics and
quantitative methods to the study of particular businesses and business problems.
Awards
The table below is a list of postsecondary awards in CIP 52.0601 that were granted by institutions located in New York
in the 2016 academic year.
Annual Awards, CIP 52.0601 - New York
Regions and Schools
4yr Awards
(Aggregate)
Post-Grad Awards
(Aggregate)
CUNY Bernard M Baruch College (190512)
66
4
Hofstra University (191649)
10
New York University (193900)
1
2
Niagara University (193973)
2
Pace University-New York (194310)
26
SUNY College at Potsdam (196200)
4
SUNY Cortland (196149)
95
SUNY Oneonta (196185)
143
Utica College (197045)
14
New York-All Schools (36)
361
6
Awards data are per the National Center for Education Statistics (NCES) and JobsEQ for the 2016 academic year. Any programs shown here reflect only data reported to the NCES; reporting is
required of all schools participating in any federal finance assistance program authorized by Title IV of the Higher Education Act of 1965, as amended—other training providers in the region that do
not report data to the NCES are not reflected in the above.
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
30
3
Occupation Crosswalk
The below table lists all occupations linked with the program, Business/Managerial Economics, CIP 52.0601. The
educational attainment mix data shown are based upon survey data for the years 2014-2015.
Occupations Related to Business/Managerial Economics, CIP 52.0601
Education and Training Requirements
Educational Attainment, Age 25+
Typical Education
Needed for Entry
Work Experience in
a Related
Occupation
Typical On-the-Job
Training Needed to
Attain Competency
in the Occupation
19-3011
Economists
Master's degree
None
None
1%
1%
0%
26%
73%
19-3022
Survey Researchers
Master's degree
None
None
1%
5%
4%
37%
54%
25-1063
Economics Teachers,
Postsecondary
Doctoral or
professional degree
None
None
0%
2%
2%
16%
79%
Definition of Economists (19-3011)
Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and
services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric
methods. Excludes “Market Research Analysts and Marketing Specialists" (13-1161).
Definition of Survey Researchers (19-3022)
Plan, develop, or conduct surveys. May analyze and interpret the meaning of survey data, determine survey objectives, or suggest or test
question wording. Includes social scientists who primarily design questionnaires or supervise survey teams. Excludes "Market Research
Analysts and Marketing Specialists" (13-1161) and "Statisticians" (15-2041).
Definition of Economics Teachers, Postsecondary (25-1063)
Teach courses in economics. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
4
Occupation Details
As of 2017Q2, total employment for occupations linked to Business/Managerial Economics in New York was 3,267.
Over the past three years, linked occupations added 147 jobs in the region and are expected to need in aggregate
approximately 78 newly trained workers per year over the next ten years.
Snapshot of Occupations Linked to Business/Managerial Economics in New York
Current
Historical
Forecast
Four Quarters Ending with
2017q2
2017q2
Avg Ann
% Chg in Empl
2014q22017q2
Over the Next 10 Years
SOC
Title
Empl
Avg Ann
Wages1
Location
Quotient Unempl Unempl
Rate
Empl
Current
Online
Job Ads2
Total
Repl
Demand
Total
Growth
Demand
Avg Ann
Growth
%
19-3011 Economists
882
$125,000
0.56
13
1.5%
1.5%
40
290
15
0.2%
19-3022 Survey Researchers
1,090
$63,700
1.21
82
7.6%
0.8%
114
111
-4
0.0%
25-1063
Economics Teachers,
Postsecondary
1,295
$119,200
1.54
29
2.3%
2.2%
31
235
135
1.0%
Total - Linked Occupations
3,267
$102,200
0.99
124
3.9%
1.5%
185
636
146
0.4%
Total - All Occupations
9,848,498
$58,000
1.00
n/a
n/a
1.6%
302,830
2,543,719
539,414
0.5%
Source: JobsEQ®
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
31
Data as of 2017Q2 unless noted otherwise
Note: Figures may not sum due to rounding.
1. Occupation wages are as of 2016 and should be taken as the average for all Covered Employment
Occupation employment data are estimated via industry employment data and the industry/occupation mix. Industry employment data are derived from the Quarterly Census of Employment and
Wages, provided by the Bureau of Labor Statistics and currently updated through 2016Q4, imputed where necessary with preliminary estimates updated to 2017Q2. Wages by occupation are as of
2016 provided by the BLS and imputed where necessary. Forecast employment growth uses national projections from the Bureau of Labor Statistics adapted for regional growth patterns.
Occupation unemployment figures are imputed by Chmura.
5
Employment by Industry
The following chart and table illustrate the industries in New York which most employ occupations linked to
Business/Managerial Economics. The single industry most employing these occupations in the region is Colleges,
Universities, and Professional Schools, NAICS 6113. This industry employs 1,213 workers in the linked occupations—
employment which is expected to increase by 123 jobs over the next ten years; furthermore, 220 additional new
workers in these linked occupations will be needed for this industry due to replacement demand, that is, to replace
workers in this occupation and industry that retire or move into a different occupation.
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
32
Occupation employment data are estimated via industry employment data and the industry/occupation mix. Industry employment data are derived from the Quarterly Census of Employment and
Wages, provided by the Bureau of Labor Statistics and currently updated through 2016Q4, imputed where necessary with preliminary estimates updated to 2017Q2.
Industry Distribution for Occupations Linked to Business/Managerial Economics in New York
NAICS
Code
Industry Title
Current
Occupation
Employment
10-Year Repl
Demand
10-Year Growth
Demand
10-Year Total
Demand
6113 Colleges, Universities, and Professional Schools
1,213
220
123
343
5417 Scientific Research and Development Services
779
146
-81
65
5419 Other Professional, Scientific, and Technical Services
414
47
28
76
5416 Management, Scientific, and Technical Consulting Services
188
63
52
115
6112 Junior Colleges
124
22
13
35
8133 Social Advocacy Organizations
68
13
3
16
9221 Justice, Public Order, and Safety Activities
50
14
-3
11
9211 Executive, Legislative, and Other General Government Support
45
13
-1
12
5231 Securities and Commodity Contracts Intermediation and Brokerage
36
12
1
13
8139 Business, Professional, Labor, Political, and Similar Organizations
42
8
-2
6
8132 Grantmaking and Giving Services
32
9
2
11
5611 Office Administrative Services
26
9
4
13
5211 Monetary Authorities-Central Bank
22
7
0
7
6
Industry Distribution for Occupations Linked to Business/Managerial Economics in New York
NAICS
Code
Industry Title
Current
Occupation
Employment
10-Year Repl
Demand
10-Year Growth
Demand
10-Year Total
Demand
6117 Educational Support Services
19
2
4
6
9999 Unclassified
19
4
2
6
9261 Administration of Economic Program
20
6
-1
4
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
33
9231 Administration of Human Resource Programs
19
5
-1
4
-All Others-
150
37
2
39
Source: JobsEQ®
Data as of 2017Q2 except wages which are as of 2016. Note that occupation-by-industry wages represent adjusted national data and may not be consistent with regional, all-industry occupation
wages shown elsewhere in JobsEQ. Note: Figures may not sum due to rounding.
Occupation employment data are estimated via industry employment data and the industry/occupation mix. Industry employment data are derived from the Quarterly Census of Employment and
Wages, provided by the Bureau of Labor Statistics and currently updated through 2016Q4, imputed where necessary with preliminary estimates updated to 2017Q2. Forecast employment growth
uses national projections from the Bureau of Labor Statistics adapted for regional growth patterns.
7
Geographic Distribution
The map below illustrates the county-level distribution of employed workers in New York in occupations linked to
Business/Managerial Economics. Employment is shown by place of work.
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
34
Top Counties with Employment Linked to Business/Managerial Economics, 2017Q2
Region
Employment
New York County, New York
1,197
Albany County, New York
213
Kings County, New York
188
Erie County, New York
180
Monroe County, New York
159
Queens County, New York
147
Nassau County, New York
127
Suffolk County, New York
111
Westchester County, New York
99
Bronx County, New York
93
Source: JobsEQ®
Occupation employment data are estimated via industry employment data and the industry/occupation mix. Industry employment data are derived from the Quarterly Census of Employment and
Wages, provided by the Bureau of Labor Statistics and currently updated through 2016Q4, imputed where necessary with preliminary estimates updated to 2017Q2.
8
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
35
Demographic Profile
In 2016, the population in New York was 19,745,289.
Of individuals 25 to 64 in New York, 36.6% have a bachelor’s degree or higher which compares with 31.3% in the
nation. Per Census 2010 estimates, the region has about 269,018 students enrolled in grade 12.
Summary1
Per cent
Value
New York
USA
New York
USA
Demographics
Population6
—
—
19,745,289
323,127,513
Population Annual Average Growth6
0.3%
0.8%
64,066
2,474,760
Median Age2,4
—
—
38.0
37.2
Under 18 Years4
22.3%
24.0%
4,324,929
74,181,467
18 to 24 Years4
10.2%
9.9%
1,983,517
30,672,088
25 to 34 Years4
13.7%
13.3%
2,659,337
41,063,948
35 to 44 Years4
13.5%
13.3%
2,610,017
41,070,606
45 to 54 Years4
14.9%
14.6%
2,878,691
45,006,716
55 to 64 Years4
11.9%
11.8%
2,303,668
36,482,729
65 to 74 Years4
7.0%
7.0%
1,360,602
21,713,429
Educational Attainment, Age 25-64
No High School Diploma
12.3%
11.8%
1,306,879
19,736,243
High School Graduate
24.9%
26.4%
2,641,113
43,982,863
Some College, No Degree
16.8%
21.7%
1,787,450
36,187,232
Associate's Degree
9.4%
8.8%
998,201
14,742,654
Bachelor's Degree
21.3%
19.9%
2,264,242
33,245,950
Postgraduate Degree
15.2%
11.4%
1,617,475
18,952,103
Social
Enrolled in Grade 12 (% of total population)
1.4%
1.4%
269,018
4,451,334
Disconnected Youth5
3.1%
3.0%
32,468
518,859
Children in Single Parent Families (% of all children)
35.6%
34.8%
1,444,567
24,408,909
Speak English Less Than Very Well (population 5 yrs and over)
13.5%
8.6%
2,491,216
25,410,756
Source: JobsEQ®
1. ACS 2011-2015, unless noted otherwise
2. Median values for certain aggregate regions (such as MSAs) may be estimated as the weighted averages of the median values from the composing counties.
3. 2016; Current Population Survey, unionstats.com, and Chmura; county- and zip-level data are best estimates based upon industry-, MSA-, and state-level data 4. Census 2010
5. Disconnected Youth are 16-19 year olds who are (1) not in school, (2) not high school graduates, and (3) either unemployed or not in the labor force. 6.
Census 2016, annual average growth rate since 2006
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
36
9
FAQ
What is CIP?
The 2010 Classification of Instructional Programs (CIP) is taxonomy of instructional program classifications and descriptions. It was developed and
has been updated by the U.S. Department of Education’s National Center for Education Statistics (NCES).
What is SOC?
The Standard Occupational Classification system (SOC) is used to classify workers into occupational categories. All workers are classified into one of
over 840 occupations according to their occupational definition. To facilitate classification, occupations are combined to form 23 major groups, 97
minor groups, and 461 occupation groups. Each occupation group includes detailed occupations requiring similar job duties, skills, education, or
experience.
What is training concentration?
Training concentration analysis compares local postsecondary training output to the national norm. As an example consider registered nurses. If in
the nation, one RN award is granted for every twelve RNs employed, that 1:12 ratio is the national norm. If in your region your schools also grant one
RN award for every twelve RNs employed, then your region will be right at the national norm, or we say at 100% of the national norm which is termed
a 100% training concentration. If your region grants two RN awards for every twelve employed, your region would be at twice the national norm or
have a 200% training concentration. Similarly, if your region grants one RN award for every twenty-four employed, your region would be at half the
national norm or have a 50% training concentration. (Note that this analysis, relying on data provided by Title IV postsecondary schools, provides an
incomplete training picture for occupations receiving much of their training from other sources.)
What is the program-to-occupation crosswalk?
Training programs are classified according to the Classification of Instructional Programs (CIP codes). For relating training programs, this report uses
a modified version of the CIP to SOC crosswalk from the National Center for Education Statistics (NCES). While this is a very helpful crosswalk for
estimating occupation production from training program awards data, the crosswalk is neither perfect nor comprehensive. Indeed, it is hard to imagine
such a crosswalk being perfect since many training program graduates for one reason or another do not end up employed in occupations that are
most related to the training program from which they graduated. Therefore, the education program analyses should be considered in this light.
As an example of the many scenarios that may unfold, consider a journalism degree that crosswalks into three occupations: editors, writers, and
postsecondary communications teachers. Graduates with a journalism degree may get a job in one of these occupations—and that may be the
mostlikely scenario—but a good number of these graduates may get a job in a different occupation altogether (the job may be somewhat related,
such as a reporter, or the job may be totally unrelated, such as a real estate agent). Furthermore, a graduate may stay in school or go back to school
for a degree that will lead to other occupation possibilities. Still another possibility includes the graduate not entering the labor market (maybe being
unemployed, being a non-participant, or moving to another region).
What is replacement demand?
Replacement demand is the number of jobs required due to replacements—retirements and turnover resulting from workers moving from one
occupation into another. Note that replacement demand does not include all turnover—it does not include when workers stay in the same occupation
but switch employers. The replacement demand shown in this report may also be understated; thus, it can be taken to be a minimum measure of the
number of workers who will need to be trained for the occupation due to replacements. The total projected demand for an occupation is the sum of
the replacement demand and the growth demand (which is the increase or decrease of jobs in an occupation expected due to expansion or
contraction of the overall number of jobs in that occupation).
What is a location quotient?
A location quotient (LQ) is a measurement of concentration in comparison to the nation. An LQ of 1.00 indicates a region has the same concentration
of an occupation (or industry) as the nation. An LQ of 2.00 would mean the region has twice the expected employment compared to the nation and an
LQ of 0.50 would mean the region has half the expected employment in comparison to the nation.
What is NAICS?
The North American Industry Classification System (NAICS) is used to classify business establishments according to the type of economic activity.
The NAICS Code comprises six levels, from the “all industry” level to the 6-digit level. The first two digits define the top level category, known as the
“sector,” which is the level examined in this report.
About This Report
This report and all data herein were produced by JobsEQ®, a product of Chmura Economics & Analytics. The information contained herein was obtained from sources we believe to be reliable.
However, we cannot guarantee its accuracy and completeness.
Source: JobsEQ®, http://www.chmuraecon.com/jobseq
Copyright ©2017 Chmura Economics & Analytics, All Rights Reserved.
37
10
38
University at Albany
New Program Proposal
BS in Business Economics
Appendix 2 Curriculum Map
Appendix 2: Curriculum Map Student Learning Outcomes Evaluation Rubric—Business Economics Major, College of Arts and Sciences
Course
Supply and
Demand
Analysis
Aggregate
Economic
Measurement
Financial
Statements
Impacts of
Financial
Institutions
and Markets
Communicate
in Business
Environment
Applications
of
Information to
Business
Functions
Impacts of
Monetary and
Fiscal Policy
Legal and
Ethical
Framework
for Business
Practices
Analyze a
Business
Problem
AECO 110, Micro
Principles
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
AECO 111,
Macro Principles
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
AECO 300,
Intermediate
Microeconomics
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
AECO 301,
Intermediate
Macroeconomics
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
AECO 320,
Economic
Statistics
Statistical
Estimation,
Decision
Making
Statistical
Estimation,
Decision
Making
Statistical
Estimation,
Decision
Making
AECO 374W,
AECO 374, or
AECO 380,
Industrial
Organization
Case Studies,
Assignments,
Presentations,
Examinations
Discussion,
Presentations,
Written
Assignments
Case Studies,
Assignments,
Presentations,
Examinations
AECO 466W,
Financial
Economics
Discussion,
Assignments,
Examinations
Discussion,
Presentations,
Written
Assignments
Discussion,
Presentations,
Written
Assignments
Discussion,
Presentations,
Written
Assignments
Discussion,
Presentations,
Written
Assignments
Discussion,
Presentations,
Written
Assignments
Discussion,
Presentations,
Written
Assignments
BFIN 210,
Personal Finance
Assignments,
Examinations
BACC 211,
Financial
Accounting
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
Discussion,
Assignments,
Examinations
35
BITM 215,
Information
Technologies for
Business
Software
Exercises,
Assignments,
Examinations
Software
Exercises,
Assignments,
Examinations
Software
Exercises,
Assignments,
Examinations
BLAW 200 or
BLAW 220,
Business Legal
Environment or
Law
Case
Discussion,
Assignments,
Examinations
Case
Discussion,
Assignments,
Examinations
Case
Discussion,
Assignments,
Examinations
36
42
University at Albany
New Program Proposal
BS in Business Economics
Appendix 3
Course Catalog Descriptions for Existing Courses in Business Economics
Courses in Department of Economics
A ECO 110 Principles of Economics I: Microeconomics (3)
Analysis of supply and demand in markets for goods and markets for the factors of production. Study of various
market structures, price determination in perfectly competitive and imperfectly competitive markets. May not be
taken for credit by students with credit for A ECO 300. A ECO 110 and A ECO 111 must be completed with a C or
better for the major in Economics. Prerequisite(s): plane geometry and intermediate algebra, or A MAT 100.
43
A ECO 111 Principles of Economics II: Macroeconomics (3)
Examination of the institutional structure of an economic system. Analysis of aggregate economic activity, the
determinants of the level, stability, and growth of national income, the role of monetary and fiscal policy. May not
be taken for credit by students with credit for A ECO 301. A ECO 110 and A ECO 111 must be completed with a C or
better for the major in Economics. Prerequisite(s): A ECO 110.
A ECO 210 Tools of Economics (3)
Introduction to some of the basic mathematical tools used in economics, including the construction and
comprehension of simple graphs, as well as some of the economist’s conceptual tools, including marginal analysis,
national income analysis, supply and demand. May not be taken for credit by students with credit for A MAT 101,
106, 111, 112, 118, or equivalent.
A ECO 300 Intermediate Microeconomics (3)
Introduction to price theory, distribution theory, and market structure analysis. Relevance of economic theory in
production and consumption decisions. Only one of A ECO 300 or T ECO 300 may be taken for credit. Prerequisite(s):
A ECO 110 with grade of C or better; A ECO 111; and A ECO 210 or A MAT 101, or 106, or 111 or 112 or 118.
T ECO 300 Honors Intermediate Microeconomics (3)
This course provides an advanced introduction to intermediate level microeconomics. Topics that will be covered
include price theory, distribution theory, and market structure analysis. Relevance of economic theory in production
and consumption decisions will also be discussed. Only one of A ECO 300 or T ECO 300 may be taken for credit.
Prerequisite(s): A ECO 110 with grade of C or better; A ECO 111; and A ECO 210 or A MAT 101, or 106, or 111 or 112
or 118. Open to Honors College students only.
A ECO 301 Intermediate Macroeconomics (3)
Theoretical and empirical analysis of aggregate output and employment, the average price level, and interest rates.
Applications include long-run growth, business cycles, and fiscal and monetary policy. Prerequisite(s): A ECO 110; A
ECO 111 with grade of C or better; A ECO 210 or A MAT 101, or 106, or 111 or 112 or 118.
A ECO 320 Economic Statistics (3)
Statistical techniques in economic analysis. Topics include distribution theory and statistical inference as applied to
regression models. Students gain experience in testing economic theories using a computer regression package.
Prerequisite(s): A ECO 110 and 111; A ECO 210 or A MAT 101, or 106, or 111 or 112 or 118.
A ECO 374/374W Industrial Organization (3)
Relationship between market structure, economic efficiency, and social welfare. Consequences of competition,
monopoly, and business practices including collusion, horizontal mergers and dominant firms. Discussion of policy
implications using antitrust cases. May not be taken for credit by students with credit for A ECO 474 or equivalent.
Only one version of A ECO 374 may be taken for credit. Prerequisite(s): A ECO 300.
A ECO 380/380Z Contemporary Economic Issues (3)
An introductory discussion of selected economic issues of current importance. The course will focus on different
economic problems each term. May be repeated up to 6 credits when content varies. Prerequisite(s): A ECO 110 and
111.
A ECO 466/466W Financial Economics (3)
Financial markets, efficient-market theory, financial panics, choice under uncertainty, risk aversion, portfolio choice,
capital-asset pricing model, futures, options, flow of funds, saving and investment, financing economic
44
development, government debt, international debt, term structure of interest rates, interest rate forecasting. Only
one version of A ECO 466 may be taken for credit. Prerequisite(s): A ECO 301 or 350.
A ECO 475 Managerial Economics (3)
Application of economic concepts to the decision making of the firm. Topics may include market and demand
analysis, risk and uncertainty, pricing, production, investment decisions, and capital budgeting. Prerequisite(s): A
ECO 300 and 320, or permission of instructor.
Courses in School of Business
BFIN 210 Personal Finance (3)
The goal of this course is to develop financial literacy and empower students to make wise financial decisions. The
course provides an understanding of the basics of investing in the stock and bond markets, tax planning and tax
form preparation, personal budgeting and credit card debt, student loans, and how to build and maintain a credit
score. Decisions about what types and amounts of insurance to buy, and tax and estate planning are also examined.
As instructional methods, the course uses a combination of textbook and outside readings, lectures by the instructor
and other financial planning practitioners, case studies, and spreadsheet exercises. Open to all University at Albany
students. Does not yield credit in the majors or minor in the School of Business.
BACC 211 Financial Accounting (3)
A thorough introduction to the basic financial statements including the balance sheet, income statement, and
statement of cash flows, with a focus on accounting information that is available to individuals outside an
organization. The course provides an introduction to the concepts, terminology and principles of financial
accounting. Students learn about accounting as an information development and communication function that
supports economic decision-making. The course enables students to analyze financial statements; derive
information for personal and organizational decisions from financial statements; and better understand business
entities. Only one version of B ACC 211 may be taken for credit. Not open to freshmen. Intended accounting and
business majors should enroll in B ACC 211 in the first semester of their sophomore year
BITM 215 Information Technologies for Business (3)
This course focuses on the role of information systems in solving business problems. The topics in the course will
include fundamental of information technology (IT), Organizational Strategy using IT, Customer Relationship
Management, Supply Chain Management, Elements of e-business, information security, and cyber-ethics. Students
will understand the role and importance of IT/IS within organization and will develop business-oriented applications
using Microsoft Excel (comprehensive / advanced level) to achieve a solid base for development of IT/IS applications
in business, accounting, or other applications. Course is not open to freshmen. Course is offered in both fall and
spring semesters.
BLAW 200 Legal Environment of Business (3)
Stresses the basic legal concepts around which our society is structured, their applications in modern business
society, legal procedures, terminology, and legal principles in operation. Topics include sources of law,
Constitutional law, criminal law, civil lawsuit issues and insurance. Offered spring semester only.
BACC 222 Cost Accounting Systems for Managerial Decisions (3)
This course will provide an introduction to management accounting. Emphasis will be on how managers use
externally reported and internal financial information in the decision making process. Topics include product
45
costing, activity based costing, variable costing, job order costing, budgeting, cost-volume-profit relationships, and
performance measurements and evaluation. Prerequisite(s): B ACC 211. Offered spring semester only.
BFIN 300 Financial Management (3)
Introductory course that surveys the basic concepts in financial management. Topics covered include financial
statement analysis, operating and financial leverage, capital budgeting, cost of capital, bond and stock valuation
models, and working capital management. Prerequisite(s): B ACC 211.
BLAW 321 Law of Business Organizations (3)
Legal concepts of agency, sole proprietorships, partnerships, corporations, limited liability companies, and
bankruptcy.
BMGT 341 Behavioral Foundations of Management (3)
This survey course provides an overview of research and theory about behavior in organizations. Specific topics may
include ethics, decision-making, communication, group processes, power and influence, motivation and job
attitudes, conflict and cooperation, organizational politics, leadership, organization structure, organization change
and development, and international differences affecting behavior in organizations.
BMKT 310 Marketing Principles (3)
Effective marketing policy is the key determinant of success in business. This course is designed to provide a
broadbased foundation to the 4 Ps of marketing: product development, pricing, promotion, and places of
distribution. In addition, students are exposed to marketing research, marketing strategy, Internet and global
marketing, consumer and organizational behavior, retailing, and market segmentation.
BITM 330 Improving Business Performance with Information Technologies (3)
This course comprehensively covers databased design and development, including, theory, modeling, normalization,
management, and administration. In this class students will use database technologies for developing business
applications using relational database tools (e.g. Access, and Visual Basic for Applications (VBA). The specific tools
used in the course may change over time but the fundamental course of the course will remain the same. The
course will also engage students in learning the Structured Query Language (SQL) which the students will use in their
application development. This course will help students to understand the importance of databases in an
organization and to apply databases to new business problems. The class has a strong hands-on component that will
involve extensive use of computers during the class and for homework assignments and projects. Prerequisite(s): A
MAT 106 and B ITM 215, A MAT 108 or A ECO 320. Offered in fall, spring, and summer (may not be offered every
summer).
46
University at Albany
New Program Proposal
BS in Business Economics
Appendix 4
Articulation Tables
Fulton-Montgomery Community College
Mohawk Valley Community College
A transfer student admitted to the University at Albany who has completed his/her A.A. or A.S. degree will be given credit for meeting SUNY’s General Education requirements.
44
S U N Y T R A N S F E R C O U R S E E Q U I V A L E N C Y T A B L E
Mohawk Valley Community
College Liberal Arts & Sciences:
General Studies
University at Albany
Business Economics B.S. (Combined Major/Minor) (0517)
Course #
Course Title
SUNY Gen Ed
Major or
Pathway
Credits
Granted
Course #
Equivalent Course Title
SUNY Gen
Ed
Major or
Pathway
Credits
Accepted
ED100
College Seminar (1)
1
QNCRE00
No Credit Given at UAlbany
0
EN101
English 1: Composition
X
3
ANEG 100Z
Introduction to Analytical Writing
X
3
Core GE Social Science (A)
X
3
SUNY Gen Ed. Social Science
X
3
MA 139
College Algebra (Suggested Mathematics Elective)
X
4
AMAT 100
Precalculus Mathematics
X
3
IS101
Computers and Society (Suggested Elective)
X
3
BITME00
Information Technology Elective – no credit given in
major/minor
X
3
AC115
Financial Seminar (Suggested Elective)
3
BACCE10
Business Accounting 100-Level Elective
3
Physical Education
.5
General Elective Credit
.5
EN102
English 2: Ideas & Values in Literature
X
3
AENG 121
Reading Literature
X
3
Social Science Elective (A)
X
3
SUNY Gen Ed. Social Science
X
3
MA 140
Calculus for Business and Social Science
(Suggested Mathematics Elective) (2)
X
X
4
AMAT 106
Survey of Calculus
X
X
4
BM 110
Principles of Microeconomics (Suggested Elective)
(2)
X
X
3
AECO 110
Principles of Economics I: Microeconomics
X
X
3
AC116 (3)
Managerial Accounting (Suggested Elective) (2)
X
3
BACC 211
Financial Accounting
X
3
Physical Education
.5
General Elective Credit
.5
Science Elective (B)
X
4
SUNY Gen Ed Science
X
4
EN150
Effective Speech
X
3
ACOM 203Y
Speech Composition and Presentation
X
3
HI101
History of Civilization 1
X
3
AHISE10WD
100-Level History Elective
X
3
BM 115
Principles of Macroeconomics (Suggested Elective)
(2)
X
X
3
AECO 111
Principles of Economics II: Macroeconomics
X
X
3
Physical Education
.5
General Elective Credit
.5
Science Elective (B)
4
SUNY Gen Ed Science
X
4
Humanities Elective (C)
3
Humanities Elective
3
HI102
History of Civilization 2
X
3
AHISE10WD
100-Level History Elective
X
3
AC243
Cost Accounting
X
3
BACC 222
Cost Accounting Systems for Managerial Decisions
X
3
IS 200
Spreadsheet Concepts & applications (Suggested
Elective)
(2)
X
3
BITM 215
Information Technologies for Business
X
3
Physical Education
.5
General Elective Credit
.5
Total Credits Eligible for Transfer
61
Additional Required
an
d Elective Courses for the Major at UAlbany
Challenges of the 21st Century
X
X
3
AECO 300
Intermediate Microeconomics
X
3
AECO 301
Intermediate Macroeconomics
X
3
AECO 320
Economic Statistics
X
3
AECO 374W or
AECO 380
Industrial Organization or
Contemporary Economic Issues: Industrial
Organization
X
3
AECO 466W
Financial Economics
X
3
BFIN 210
Personal Finance
X
3
BLAW 200 or
BLAW 220
Legal Environment of Business or
Business Law
X
3
Business Electives (4)
X
6
Economics Elective (5)
X
6
Additional Electives (6)
X
9
Elective Credits Required for Degree Completion
X
14
(A)Social Scien
AN101,
(
(
(1)The Univers
at Alb
(2)
(3)
(4)
(5)Student (6) c
for business ele
Total credits required for degree completion at MVCC
62
Total Credits required at UAlbany
59
BM101, GE101, PS101, PY101, SO101
ctive: BI103, BI105, BI141, BI142, BI201, BI202, BI216, BI217, CH101, CH111, CH112, CH115,
1, CH141,
7, CH248, ET106, GL100, GL101, GL102, PH112, PH113, PH141, PH151, PH152, PH261, PH262,
Elective: EN148, EN198, EN240, EN241, EN248, EN249, EN255, EN256, EN265, EN271,
, EN281, GC244, GC245, HU186, HU187, HU188, HU204, HU205, HU210, HU289, HU290,
2, HU295, HU296, PT205 any does not accept transfer credit for College Seminar courses.
s suggested because it meets a requirement for the major at UAlbany upon transfer
MVCC must take both AC 115 and AC 116 to receive credit for BACC 211 at UAlbany. Three credits
ed towards
d three credits will be applied as Accounting Elective credit not counting towards the major/minor
choose from BACC 222, BFIN 300, BLAW 321, BMKT 310, BMGT
r BITM 330 s will choose two Economics courses at 300-level or
ee additional courses from Economics 300-level or higher or form Business electives listed above, or
transfer
Total Credits Applied to Program
61
Total Credits Required for Degree
120
A transfer student admitted to the University at Albany who has completed his/her A.A. or A.S. degree will be given credit for meeting SUNY’s General Education requirements.
45
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3
4
5
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External Evaluation Report
Form 2D
Version 201-08-02
The External Evaluation Report is an important component of a new academic program
proposal. The external evaluator’s task is to examine the program proposal and related materials, visit the campus
to discuss the proposal with faculty and review related instructional resources and facilities, respond to the
questions in this Report form, and submit to the institution a signed report that speaks to the quality of, and need
for, the proposed program. The report should aim for completeness, accuracy and objectivity.
The institution is expected to review each External Evaluation Report it receives, prepare a single institutional
response to all reports, and, as appropriate, make changes to its program proposal and plan. Each separate
External Evaluation Report and the Institutional Response become part of the full program proposal that the
institution submits to SUNY for approval. If an external evaluation of the proposed program is required by the
New York State Education Department (SED), SUNY includes the External Evaluation Reports and Institutional
Response in the full proposal that it submits to SED for registration.
Institution: The University at Albany
Evaluator Name (Please print.): Kenneth N Kuttner
Evaluator Title and Institution: Professor of Economics, Williams College
Evaluator Signature:
Proposed Program Title: Business Economics
Degree: B.A.
Date of evaluation: September 22, 2018
I. Program
1. Assess the program’s purpose, structure, and requirements as well as formal mechanisms for program
administration and evaluation. Address the program’s academic rigor and intellectual coherence.
The proposed curriculum is thoughtfully designed, a good balance between traditional, academically inclined
economics courses and more practically oriented business classes. As quantitative skills have become increasingly
important business careers, it is good that the required classes include math and statistics. The requirements are
well structured, and should be easy for students to navigate. And as it would be housed entirely in the Economics
Department, students will surely find the administrative aspects of the Business Economics major simpler than the
alternative of an Economics major coupled with a Business minor.
2. Comment on the special focus of this program, if any, as it relates to the discipline.
The gap between “business” and “economics” is wider than many people realize. There are similarities and
overlaps, to be sure; but business is not really a “sub-discipline” of economics (or the other way around), even
though the economics department is housed within the business school at many institutions. In the context of this
question, therefore, the program could be described as interdisciplinary.
3. Comment on the plans and expectations for self-assessment and continuous improvement.
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As it pertains to teaching: The Economics Department is already diligent in its assessment of course content and
monitoring of teaching performance.
As it pertains to the curriculum: No formal plan is in place, but the Department recognizes that the proposed
curriculum is not set in stone, and intends to revisit its design from time to time – especially during the first few
years of the program.
4. Discuss the relationship of this program to other programs of the institution and collaboration with other
institutions, and assess available support from related programs.
The Economics department will be working closely with the School of Business to implement the program.
Importantly, the program enjoys the full support of the Dean. It will place some additional staffing demands on
the School, but the Dean is confident that the School has the capacity to meet the modest projected increase in the
enrollments. Should the program expand beyond that, some additional staffing might be needed.
5. What is the evidence of need and demand for the program locally, in the State, and in the field at large? What
is the extent of occupational demand for graduates? What is the evidence that demand will continue?
I have nothing to add to the material on pages 5—8 of the appendix to the program proposal (Form 2A).
II. Faculty
6. Evaluate the faculty, individually and collectively, with regard to training, experience, research and
publication, professional service, and recognition in the field.
Economics is a very strong department. Its faculty members are highly accomplished in terms of scholarship and
publication success. Several are quite prominent in their respective fields. In the addition, the Department is to be
commended for making several excellent new hires in recent years.
7. Assess the faculty in terms of number and qualifications and plans for future staffing. Evaluate faculty
responsibilities for the proposed program, taking into account their other institutional and programmatic
commitments. Evaluate faculty activity in generating funds for research, training, facilities, equipment, etc.
Discuss any critical gaps and plans for addressing them.
The program would not entail the development of any new classes, and the initial enrollment increase will be
modest. Consequently, the Department has concluded that existing staffing levels would be adequate for the first
three years. Beyond that, some additions to the faculty may be necessary, should the projected enrollment increase
materialize. The Department anticipates that these needs can be met with additional adjuncts and/or lecturers.
Given its already heavy reliance on part-time faculty, hiring a full-time lecturer (or ideally, a tenure-track
professor) would be preferable to taking on additional adjuncts.
8. Evaluate credentials and involvement of adjunct faculty and support personnel.
The Department makes use of a large number of adjuncts – too many to evaluate in detail. The Department seems
generally to be pleased with their performance, noting that many of them bring valuable real-world perspectives
into the classroom.
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III. Students
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9. Comment on the student population the program seeks to serve, and assess plans and projections for student
recruitment and enrollment.
I know from my own experience at Williams College that many students are interested in Economics, but at the
same time would like to take some practically oriented classes, such as accounting and financial management, that
are more directly relevant to their career goals.
At the University at Albany, two options are currently available to this set of students. One is the Bachelor of Arts
in Business Administration offered by the School of Business. Alternatively, students may declare a Business
minor to complement their Economics major. The Business Economics degree will give these students a third
option.
Students with academic interests that extend beyond business administration will benefit from a curriculum that is
less narrowly focused than that of the Business Administration degree. Likewise, the more straightforward set of
requirements for the Business Economics major will appeal to students who might otherwise have considered a
business minor. In addition, the program will likely attract a number of students who, for whatever reason, were
not admitted to the Business major; or who thought the Economics major did not provide the practically oriented
training they sought.
Another attractive feature of the program is that it will allow transfer students to use more of the credits obtained
at other institutions to count towards the major. (The plan is to accept up to six credits transferring in as 100-level
business courses.) This is a sensible policy – lower level business classes are relatively standard across
institutions, so there is no reason not to accept these courses. The flexibility resulting from the acceptance of
additional credits will undoubtedly make the program all the more compelling to a certain set of students.
10. What are the prospects that recruitment efforts and admissions criteria will supply a sufficient pool of highly
qualified applicants and enrollees?
Taking into account the discussion in item #9, the projected increase in enrollments is realistic – if anything, a
conservative estimate of the program’s likely popularity.
11. Comment on provisions for encouraging participation of persons from underrepresented groups. Is there
adequate attention to the needs of part-time, minority, or disadvantaged students?
The share of Economics majors from underrepresented groups appears to be similar to that of the overall student
body. It is reasonable to assume that the share would be similar for the Business Economics major – and it might
be even higher, to the extent that first-generation students would be attracted to a practically oriented program.
12. Assess the system for monitoring students’ progress and performance and for advising students regarding
academic and career matters.
The Economics department recently retained a dedicated undergraduate academic advisor, a highly worthwhile
addition. (Prior to that time, all advising was done by members of the faculty.) The advisor is better equipped than
most faculty members to handle routine questions on policies, procedures and the like. This has freed up faculty
members to focus the aspects of advising, such as academic mentoring, to which they are better suited. Advising
for the Business Economics program can readily be accommodated by the existing academic advisor, and the
establishment of the program has his enthusiastic support.
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The University is also fortunate to have a strong (if understaffed) career advising office. The Business Economics
program would place no new demands on the staff of the office – and in fact might make their jobs easier, to the
extent that the major would enhance career opportunities. (See also item #13.)
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13. Discuss prospects for graduates’ post-completion success, whether employment, job advancement, future
study, or other outcomes related to the program’s goals.
The primary purpose of the proposed program is to enable students with scholarly interests in economics to also
acquire competencies needed for a career in business. Consequently, obtaining a degree in Business Economics
will almost surely increase students’ chances of finding suitable employment. The career advising staff are
convinced that Business Economics majors would be very “marketable.”
IV. Resources
14. Comment on the adequacy of physical resources and facilities, e.g., library, computer, and laboratory facilities;
practica and internship sites or other experiential learning opportunities, such as co-ops or service learning; and
support services for the program, including use of resources outside the institution.
No additional physical resources or experiential learning opportunities would be required.
15. What is the institution's commitment to the program as demonstrated by the operating budget, faculty salaries,
the number of faculty lines relative to student numbers and workload, and discussions about administrative
support with faculty and administrators?
The institution’s commitment to the program is strong. All of the administrators we spoke with (including the
Deans of the School of Business and the College of Arts and Sciences) voiced enthusiastic support. They felt that
the Program would benefit a significant number of students, while requiring very little in terms of additional
resources. None expressed any reservations.
V. Summary Comments and Additional Observations
16. Summarize the major strengths and weaknesses of the program as proposed with particular attention to
feasibility of implementation and appropriateness of objectives for the degree offered.
The Business Economics program will benefit a significant number of students, offering the possibility of a major
that combines the scholarly study of Economics with practical business training. The program, detailed in the well
thought-out proposal, should be straightforward to implement and feasible (at least at the three-year horizon) with
existing staffing levels. There are no obvious weaknesses.
17. If applicable, particularly for graduate programs, comment on the ways that this program will make a unique
contribution to the field, and its likelihood of achieving State, regional and/or national prominence.
Not applicable.
18. Include any further observations important to the evaluation of this program proposal and provide any
recommendations for the proposed program.
My only suggestion is that the Department give some additional thought to the desired learning objectives
enumerated on pages 4-5 of the proposal. As currently stated, they closely follow the learning objectives of a
traditional Economics degree, with only minor modifications to indicate a business orientation. References to the
“operations of business organizations” could be dropped from the objectives that have only tangential connections
4 of 6
to business management (e.g. #2, national income and product accounts). Objectives pertaining specifically to the
business portion of the curriculum (e.g. accounting) might be added.
12
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External Reviewer Conflict of Interest Statement
I am providing an external review of the application submitted to the State University of New York by:
.,
The University at Albany, Department of Economics
(Name of Institution or Applicant)
The application is for (circle A or B below) A)
New Degree Authority
B)
Registration of a new academic program by an existing institution of higher education:
Business Economics
(Title of Proposed Program)
I affirm that I:
1. am not a present or former employee, student, member of the governing board, owner or shareholder
of, or consultant to the institution that is seeking approval for the proposed program or the entity
seeking approval for new degree authority, and that I did not consult on, or help to develop, the
application; ·
·
2. am not a spouse, parent, child, or sibling of any of the individuals listed above;
3. am not seeking or being sought for employment or other relationship with the institution/entity
submitting the application?
4. do not have now, nor have had in the past, a relationship with the institution/entity submitting the
application that might compromise my objectivity.
Name of External Reviewer (please print):
Kenneth N Kuttner
S i gnatu r e:
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Department of Economics
College of Arts and Sciences
Response to the External Evaluation Reports for the Business Economics
Proposal
The University at Albany and the Department of Economics have been fortunate in obtaining the
services of Profs. Frank Caliendo and Kenneth Kuttner. Both combine academic experience,
knowledge of business and economics, scholarly success and administrative understanding. Their
reports provide substantial support for the proposed new combined major.
Two points require a response from the Department of Economics. The first concerns future
resource needs. In his answer to Question 4, Prof. Kuttner comments:
The Economics department will be working closely with the School of Business to
implement the program. Importantly, the program enjoys the full support of the Dean. It
will place some additional staffing demands on the School, but the Dean is confident that
the School has the capacity to meet the modest projected increase in the enrollments.
Should the program expand beyond that, some additional staffing might be needed. The
Department has asked the School of Business to respond regarding possible resource needs in
case program enrollment exceeds the enrollments projected in the proposal.
In his answer to Question 7, Prof. Kuttner comments:
The program would not entail the development of any new classes, and the initial
enrollment increase will be modest. Consequently, the Department has concluded that
existing staffing levels would be adequate for the first three years. Beyond that, some
additions to the faculty may be necessary, should the projected enrollment increase
materialize. The Department anticipates that these needs can be met with additional
adjuncts and/or lecturers. Given its already heavy reliance on part-time faculty, hiring a full-
time lecturer (or ideally, a tenure-track professor) would be preferable to taking on
additional adjuncts.
Similarly, Prof. Caliendo in his answer to Question 10 says:
Given that economics is already one of the largest majors on campus, I do not think that
attracting a qualified pool of enrollees will be an issue. The bigger issue may be ensuring
that resources grow alongside enrollment growth.
As in the past, in the event of eventual enrollment growth beyond projected levels, the
Department will rely on the College of Arts and Sciences to address staffing requests in a manner
that balances the needs and priorities of different disciplines.
The second point concerns the learning outcomes of the program. Prof. Kuttner in Question 18 says:
My only suggestion is that the Department give some additional thought to the nine
desired learning objectives enumerated on pages 4-5 of the proposal. As currently stated,
they closely follow the learning objectives of a traditional Economics degree, with only
minor modifications to indicate a business orientation. References to the “operations of
business organizations” could be dropped from the objectives that have only tangential
connections to business management (e.g. #2, national income and product accounts).
Objectives pertaining specifically to the business classes (e.g. accounting) might be
added.
Business Administration 110
17
1400 Washington Avenue, Albany, NY 12222
PH: 518-442-4735 FX: 518-442-4736
econ@albany.edu
www.albany.edu/econ
Department of Economics
College of Arts and Sciences
The Department has revised the Learning Outcomes to incorporate business-related preparation
as follows, and the Curriculum Map has been revised for these Learning Outcomes.
1. The graduate will be able to apply supply and demand analysis to problems.
2. The graduate will understand the relevance of aggregate economic measures such as
concepts of national income, investment and consumption.
3. The graduate will demonstrate the ability to work with and analyze basic financial
statements including the balance sheet, income statement, and statement of cash flows.
4. The graduate will understand the operation of financial institutions and financial markets,
and be able to determine their impacts.
5. The graduate will be able to communicate competently in a business environment through
effective writing and presentation skills.
6. The graduate will be able to understand applications of information to business functions
and be able to use information technology applications effectively.
7. The graduate will understand the role of monetary and fiscal policy and their impacts on
labor and product markets.
8. The graduate will be able to recognize anticompetitive behavior and understand the legal and
ethical framework in which business organizations operate.
9. The graduate will be able to analyze a business problem to arrive at an effective solution.
18
Business Administration 110
1400 Washington Avenue, Albany, NY 12222
PH: 518-442-4735 FX: 518-442-4736
econ@albany.edu
www.albany.edu/econ
Statement of Changes in the Campus Impact Form As of October 8, 2018
This statement provides revisions to the Campus Impact Form in response to
a. Curricular revisions by the Department of Mathematics and the Department of Economics
b. A statement from the Office of the Dean of the School of Business concerning future staffing
requirements
Comments by the External Reviewers appear separately in Form 2A together with the response of the
Department of Economics
a. The Department of Mathematics no longer offers AMAT 101, Algebra and Calculus I, which was
the primary course recommended by the Department of Economics to satisfy the calculus
requirement for Bachelor of Arts majors in economics, and would have been recommended for
students seeking the Bachelor of Arts in Business Economics to satisfy their calculus
requirement. Additionally, the Department of Economics has received approval for a new
course, AECO 374 and AECO 374W, Industrial Organization, to replace the topics course, AECO
380, that had been used to offer industrial organization. As a result of these curricular changes,
the statement of program requirements is now:
A minimum of 60 credits for the major, including:
AECO 110 Principles of Economics I: Microeconomics
AECO 111 Principles of Economics II: Macroeconomics
AMAT 106 (Survey of Calculus), or 112 (Calculus I), or 118 (Honors Calculus I), or AECO 210 (Tools of
Economics)
AECO 300 Intermediate Microeconomics*
AECO 301 Intermediate Macroeconomics*
AECO 320 Economic Statistics*
AECO 374, 374W or 380 Industrial Organization
AECO 466W Financial Economics*
*The core courses AECO 300, 301, 320 and 466W must be taken at the University unless completed
elsewhere prior to matriculation.
Two additional courses (6 credits) in economics at the 300 level or above.
BFIN 210 Personal Finance
BACC 211 Financial Accounting
BITM 215 Information Tech for Business
BLAW 200 Legal Environment of Business or BLAW 220 Business Law
Three additional courses (9 credits) chosen from: BACC 222, BFIN 300, BLAW 321, BMGT 341 BMKT
310, and BITM 330.
An additional three floating courses (9 credits) to be taken in either economics at the 300 level or in
business from the above list. (Up to 6 transfer credits for business courses at the 100 level can count
toward the floating course requirement.)
At least 90 credits in liberal arts and sciences courses; at least 120 credits overall.
General Education, residency, and all other University-wide requirements.
b. The Office of the Dean of the School of Business has indicated that Former Dean Hany Shawky’s
letter in the Campus Impact Statement continues to reflect its endorsement of the proposal for
the Business Economics major. Additionally, it has provided the following statement:
Statement of Concern
Accommodating students from the new major in courses currently offered by the School of Business will
require that we consider whether we can serve the students by deploying appropriately qualified faculty
members, as governed by the standards of our accrediting agency. We have a requirement to deliver at
least 60% of credit hours through research-active faculty members.
As class sizes rise, we cannot scale seamlessly as it is not be just a matter of any faculty member
qualified or willing to teach. Therefore, we believe that if we have to serve beyond 180 credit hours (20
students from the new major enrolled in three courses of three credits each), we may have a need for
an additional appropriately qualified, research-active faculty member.
In response to this concern, the Personnel Expense Statement in the Campus Impact Form has
been revised as follows:
(a) No new economics faculty would be needed during the next 3 years. A recent hire, Dr. Lewis Segal,
would handle anticipated increases in AECO 466 enrollment. Most of the enrollment in the new program
would come from enrollment in existing economics major programs, with some additional net
enrollments arising from students staying at UAlbany for the program instead of leaving, entering
UAlbany because of the program, or choosing Business Economics over majors outside of economics.
Net increases in economics enrollments are projected to be 20 in the first year, rising to 60 in year 5.
Assuming actual net enrollments are no more than fifty percent beyond the projected enrollment
increases, economics faculty hiring beyond currently planned levels would not be required. Prof. Stessin
projects a net increase in mathematics enrollment of 80 by the fifth year with a cost for four additional
adjunct lines of $20,000 at that time. The Office of the Dean of the School of Business has issued a
statement of concern in response to our request. The statement indicates that a net increase in School
of Business course enrollments of 180 credit hours may require an additional appropriately qualified
research-active faculty member. This concern is not reflected in a revised table of program expenses
since no specific personnel expense estimates were provided. In response to the enrollment concerns of
the Department of Mathematics and the School of Business, the Department of Economics agrees to
provide information on enrollments and our estimate of net increases in course enrollments in
mathematics and business at the end of each academic year, along with forecasts of course enrollments
for the following year.
