Business administration students should expect to take a number of economics courses as undergraduates. Generally, these courses begin freshman year. The two principal areas of economic study are macroeconomics and microeconomics. According to the College Board, macroeconomics is the study of principles that apply to an economic system as a whole, focusing on national income and prices in addition to economic growth and international economies. In contrast, the College Board defines microeconomics as the study of economics as it relates to consumerism and businesses. Students may also engage in the application of these studies via analysis. Other courses in economics include courses in economic research, modern-day economic issues, and economic philosophies (Marxist, Keynesian, etc.).
Another course requirement for business administration majors is accounting. Students may begin taking courses in financial accounting as early as freshman year. In these courses, students learn how to create and to analyze financial statements. Managerial accounting is another course component of accounting. Managerial accounting students learn corporate functions such as budgeting and cost control; they also learn about management decisions regarding accounting, including the payment of federal taxes. Additional courses in accounting include the following: departmental accounting within businesses, fraud and embezzlement, and inventory control.
Students will begin taking courses in general management during their junior year. These courses include instruction in small business management and business strategies. Small business management courses are designed to provide students with training for developing business plans and strategies for a small business. They also give students a sense of the advantages and disadvantages of owning a small business. Courses in business strategy include business reporting techniques, competitive strategies as they relate to other businesses, and agreements and contracts. Other generally required courses include business law, human resources management and international law.