Monday, August 10, 2015 VMI Dept. of Economics and Business Open House Curriculum Orientation Department of Economics and Business An AACSB—International.

Wednesday, April 19, 2023 VMI Dept. of Economics and Business Open House

Curriculum OrientationDepartment of Economics and

Business

An AACSB—International accredited business program


What you will hear today

This orientation will provide prospective students and their parents information on:

• The Mission Statement– Students– Learning Environment – Curriculum– Faculty

• What you can do with our degree• Value adding opportunities• Assessment results• Opportunities to minor in economics or business

Our goal is to help you decide if Economics and Business is right for you.


Mission Statement Virginia Military Institute

. . to produce educated and honorable men and women, prepared for the varied work of civil life, imbued with love of learning, confident in the functions and attitudes of leadership, possessing a high sense of public service, advocates of the American Democracy and free enterprise system, and ready as citizen-soldiers to defend their country in time of national peril.


The mission of the Department of Economics and Business is to develop leaders within the framework of the unique VMI mission by offering a rigorous and challenging liberal arts curriculum based on a solid foundation in economic theory, quantitative methods, and management-specific knowledge and skills.

Mission Statement Department of Economics and

Business


Finding the Right Students

To accomplish our mission we must find the right students, young men and women who not only meet the admissions standards of VMI, but who also have a passion for being 21st century leaders.

“The degree program at VMI is most effective for producing the characteristics of professionalism, integrity, and work ethic that employers are looking for.”

Shannon Daly ‘91


Creating the Proper Learning Environment

We have a learning environment with a unique faculty/student team that is dedicated to developing future leaders by getting to know each student as an individual and understanding his or her strengths.

“I feel that the Economics and Business program is great for producing well rounded professionals who are instilled with integrity and a great work ethic.”

Jackson Castleberry ‘02


Offering a Rigorous and Challenging Curriculum

We continually review our curriculum to ensure that it stimulates intellectual curiosity, and at the same time, gives our graduates the skills to excel in the global market place.

“While I didn’t understand why our requirements were so high at the time, I now appreciate the fact that so much was expected of us. . . We have an immediate advantage once we get out into the workplace.”

Ken Williams ‘05

To meet AACSB

standards, we have

made significant changes in

the curriculum during the

past several years.

New courses include:

Managerial accounting

Legal environme

nt of business

Operations manageme

nt

Management

information systems


Recruiting and Developing a First-Rate Faculty

To create the right learning environment and to teach the 21st Century curriculum, we recruit and develop a faculty composed of excellent teachers and scholars whose primary goal is to bring out the best in you. “My professors at VMI were very knowledgeable, thorough and prepared. However, the one quality that stood out above all others was their interest and concern for me. Each took the time to get to know me not only as a student, but as a person.”

Will Martin ‘97

Wednesday, April 19, 2023 VMI Dept. of Economics and Business New Cadets

The EC-BU Faculty• Our department is small enough that we can tailor learning

and research interests to meet your specific needs.• With our low student to faculty ratio, we can focus on you

as an individual, not as a number.• As of the Fall of 2009, the economics and business

department has 13 full time faculty members and two adjunct faculty.

13 have doctoral degrees in their fields, 1 adjunct member has a law degree

8 are tenured professors 4 are eligible for tenure 1 is a VMI alumnus For the EC-BU faculty, excellence in teaching is the primary

responsibility

Meet the FacultyDepartment of Economics and Business


What can you do with your degree?

An Economics and Business degree from VMI can prepare you for almost any leadership position you may choose. You will be well prepared for careers in:

Finance Management Marketing Investments Banking or the Military


What MORE can you do with your degree?

The EC/BU degree is also excellent preparation for graduate work in:

Economics, Business, Public administration, Health administration, or law.


What you can do with your degree?

“I would recommend the economics and business degree to anyone attending VMI. I think it produces the most well rounded graduate by making them ready to take management positions in any career field.”

Ed Hosken ‘94


What have others done?

Some of our graduates have become:

Management Trainee, J.P. Morgan Chase Financial Services Senior Vice President, Bank of America Global Financial Services Manager, The Coca-Cola Company National Bank Examiner, Comptroller of the Currency. Vice President—Corporate Resources, Ethyl Corporation Senior Vice President, Wachovia Bank Vice President—Business Critical Solutions, Microsoft Director of Business Operations, American Express Financial

Services Director of Business Services, Medical University of South

Carolina Foreign Service Officer, US State Department College Professor--0rganizational behavior and human resource

mgnt. Clerk, US Supreme Court


Best Jobs in America – An excerptAccording to a recent survey by Money magazine and Salary.com*

Rank Job Projected Job Growth Avg. Pay 1 Software engineer 46.07% $80,427 2 College professor 31.39 81,491 3 Financial advisor 25.92 122,462 4 Human resources manager 23.47 73,731 5 Physician assistant 49.65 75,117 6 Market research analyst 20.19 82,317 7 Computer/IT analyst 36.10 83,427 8 Real estate appraiser 22.78 66,216 9 Pharmacist 24.57 91,998 10 Psychologist 19.14 66,359 11 Advertising manager 20.34 107,049 21 Sales manager 19.67 135,903 23 Property manager 15.30 78,375 31 Management analyst 20.12 63,426 42 Financial analyst 17.33 66,203 44 Accountant 22.43 62,575

*Rank is based on (1) stress levels, (2) flexibility in hours and working environment, (3) creativity, and (4) how easy it is to enter and advance in the field in addition to salary and projected growth.


Opportunities for development both inside and outside the classroom include:

Undergraduate Research Internships Study Abroad Cadet Investment Group The Concentration in Financial Management Institute and Department Honors Programs Leadership in the Corps of Cadets Leadership in Extracurricular Programs A Minor in Leadership Studies

Value Adding Opportunities


Accounting Economics Management Quantitative Business Analysis Finance Marketing Legal and Social Environment Information Systems (new in 2008) International Issues

VMI uses the ETS Major Field Test, Business (MFTB) to measure the competency of Economics and Business students in the major sub-disciplines of the curriculum. The areas covered by the test are:

Assessment Results

ETS Field Test Results*

YearNumber of

Schools VMI Rank*Number of Students

Cadets in the 90th %tile

Cadets in the 99th %tile

1993 147 95th %tile 8,319 9 of 39 1 of 39

1994 184 92nd %tile 13,027 10 of 51 2 of 51

1995 240 71st %tile 26,293 3 of 44 0 of 44

1996 284 93rd %tile 41,197 9 of 42 1 of 42

1997 317 85th %tile 44,686 8 of 49 0 of 49

1998 244 87th %tile 10,830 10 of 55 3 of 55

1999 244 74th %tile 10,830 8 of 73 (91st) 1 of 73

2000 244 80th %tile 10,830 6 of 49 0 of 49

2001 388 92nd %tile 64,578 10 of 56 0 of 56

2002 108 48th %tile 4,467 5 of 63 0 of 63

2003 359 93rd %tile 24,715 13 of 51 1 of 51

2004 359 93rd %tile 24,715 13 of 51 1 of 51

2005 469 94th %tile 80,044 12 of 52 2 of 52

2006 513 95th %tile 109,982 7 of 33 0 of 33

2007 553 95th %tile 143,349 8 of 51 1 of 51 (98th)

2008 447 93th %tile 37,217 9 of 44 0 of 44

2009 564 70th %tile 83,323 2 of 32 1 of 32 (95th)

* The percentile scores are sometimes reported from the Educational Testing Service at discrete intervals. For example, for 2008, the percentile ranking for the overall score went from 90th percentile to the 95th percentile. The 93rd percentile is an estimate based on extrapolating the results within this 5 point interval. In previous years, these discrete intervals were much smaller.

ETS Field Test Results*

93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 Average

Areas %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile %tile

Accounting 56 66 38 53 56 71 39 30 52 25 57 62 63 24 87 68 45 52

Economics 99 99 94 99 98 98 98 99 99 97 99 99 98 98 98 98 95 98

Management 73 60 47 63 46 82 59 54 85 23 91 80 92 92 85 83 55 69

Quantitative 94 90 91 92 90 84 78 76 96 48 95 88 87 95 70 97 90 86

Finance 96 94 41 79 81 76 70 71 87 50 91 84 92 83 99 94 70 80

Marketing 75 78 75 77 53 85 59 71 82 36 79 98 86 95 97 90 55 76

Legal/Social - 76 52 96 65 71 50 82 54 28 89 54 85 55 51 73 40 64

Information Systems - - - - - - - - - - - - - - - 48 15 32

International - 86 80 99 96 88 79 74 96 85 99 99 86 95 99 93 75 89

VMI overall ranking 95 92 71 93 85 87 74 80 92 48 93 93 94 95 95 93 70 85

VMI Percentile Scores by area 1993 - 2009*

* The percentile scores are sometimes reported from the Educational Testing Service at discrete intervals. For example, for 2008, the percentile ranking for the overall score went from 90th

percentile to the 95th percentile. The 93rd percentile is an estimate based on extrapolating the results within this 5 point interval. In previous years, these discrete intervals were much smaller.


The ETS Field Test andContinuous improvement

The 16 year track record with the Major Field Test, Business confirms our strengths and indicates opportunities for improvement.

• We will continue to draw from our strengths in the economics, quantitative, and international components.

• We have added a second accounting course and will continue to monitor this area.

• We have added a legal environment of business course and will continue to monitor this area.

• The past six years have shown great consistency in all areas except accounting and legal/social.

• The Information Systems course will be first offered to the class of 2010 as a curricular requirement. We expect our scores in information systems will improve in future years.

Conclusion: We will continue to monitor and improve our curriculum to ensure that our students are prepared for the 21st Century world.


The department's consistently exceptional performance on the Business Achievement Test is awe inspiring. . . students come and go, but a sound curriculum and superb instruction are more enduring. This is an easy lesson to accept as I continue to appreciate the standards of candor, decency, and integrity exemplified by (the faculty), and given that a day does not go by that I do not draw on the knowledge imparted through the curriculum by its instructors.

Todd Brickhouse ‘93

An Alumnus’ Reflection


What is the significance of AACSB accreditation?


Estimated # of business schools, world wide 11,833

AACSB membership, world-wide 1,124

AACSB accredited schools world-wide 567*

AACSB accreditation in process world-wide 176

Estimated # of business schools, United States 1,602

AACSB membership, United States and Canada 707**

AACSB accredited schools, United States and Canada 481

AACSB accreditation in process, US and Canada 69

* Of the 567 accredited schools worldwide, 42 (7.3%) are undergraduate only.

** Of the AACSB member schools in the United states, only 4% are classified as “Baccalaureate Colleges” by the Carnegie Classification.


Any Questions?Please visit our website at

http://www.vmi.edu/ECBU

Department ofEconomics and Business

http://www.vmi.edu/ECBU



Minors in Economics or Business

We offer minors in both business and economics.

Both programs require Microeconomic and Macroeconomic Principles

• Minor in Economics—12 additional hours in economic theory and economics electives

• Minor in Business—12 additional hours to include Principles of Management, Principles of Marketing, Financial Accounting, and Business Finance.

The minors programs supplements other majors by giving them a general economics or business orientation.

Monday, August 10, 2015 VMI Dept. of Economics and Business Open House Curriculum Orientation Department of Economics and Business An AACSB—International.

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