Mission and Outcomes Statements

Mission

Accounting

The mission of the Westminster College Accounting Program is to enhance and disseminate knowledge of accounting practice, the accounting profession, and accounting’s purpose in business by providing students the opportunity to develop the competencies required for entry into any branch of the accounting profession.  The program will

  • assist students in the development of critical thinking, effective oral and written communication, moral reasoning, and awareness of professional ethics.
  • facilitate students’ development of interpersonal, technological, leadership, and organizational skills to promote adaptability in a constantly changing professional environment.
  • prepare students in their selection of an appropriate career path, encourage a commitment to lifelong learning, and provide an understanding of accounting for non-accounting careers and personal life.

Business Administration and International Business

The mission of the administrative majors of Westminster College’s Department of Economics and Business is to:
  • equip students with knowledge, skills and understanding of complex workplace organizations for career entry, success and responsible citizenship;
  • develop decision making skills from an understanding of the relevant concepts of administration, an analysis of the environment, and an awareness of ethical issues that may be present in a workplace;
  • develop literacy vital to the understanding of an organization’s functioning:  accounting and financial data, marketing information, strategic planning mechanisms, and the management of people in a workplace;
  • competency is communicative effectiveness, written and oral, using evidence and analysis, demonstrating understanding.

Economics and Financial Economics

We strive to develop in students the ability to understand economic and social phenomena, to creatively formulate testable hypotheses about these events, to reach logically sound conclusions, and to communicate results in an effective manner. We also endeavor to develop in students an understanding of the interrelationship between economics and other disciplines and an appreciation of the limitations of economics.



Outcomes

Accounting

  • to gain general knowledge of accounting and the accounting profession.
  • to learn generally accepted accounting principles needed to prepare fairly presented financial statements.
  • to gain a basic understanding of the Internal Revenue Code and the impact of taxes on business decisions.
  • to understand the importance and function of audits and generally accepted auditing standards.
  • to develop competency in data analysis, including spreadsheets, databases, and accounting software.
  • to identify contemporary business issues and apply relevant knowledge toward resolution, thus developing critical thinking, logical and quantitative reasoning, and creative analysis.
  • to develop written and oral communication skills, including interpersonal, leadership and team skills necessary for business professionals.
  • to acquire an understanding of moral and ethical dilemmas faced by business professionals.
  • to foster students’ self-awareness and desire for self improvement thus enabling the selection of an appropriate career path and encouraging a commitment to lifelong learning.

Business Administration and International Business
  • an understanding of contemporary theory and principles of managing in the American workplace:  managing human resources, finance, marketing, organizational behavior, economic fundamentals and quantitative analysis;
  • competency in data analysis and statistical reasoning;
  • effective interpersonal communications in small group settings and teams;
  • ability to think critically and creatively as a basis for written communications appropriate for a business situation;
  • career entry or graduate study after the completion of a degree with a major in Business Administration or International Business.

Economics, Financial Economics, and Quantitative Economics

The student will understand:
  • The fundamental economic problems of scarcity and choice in many applications.
  • How markets usually promote good outcomes.
  • How markets can fail.
  • How government can correct market failure and how government policy can make matters worse.
  • Macro phenomena of growth, inflation, employment, and national and international balances and imbalances.
  • How causal effects differ from random correlations in economic phenomena.
  • How to communicate results of economic studies to both professionals and lay persons.
  • How to pose interesting hypotheses about causal effects in economics and social sciences, and then follow through with analysis of relevant data that facilitates logically sound conclusions.
  • How other disciplines can enrich the study of economics: for example,  math, psychology, biology, ethics, political science, accounting, business, and philosophy.
  • That economics extends beyond undergraduate careers.