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Undergraduate Major/Minor Requirements

Bachelor of Business Administration (B.B.A.) (Majors in Business Administration and Accounting)

Degree requirements: To earn a B.B.A. degree, students major in either accounting or business administration. The B.B.A. academic program is a three-year, integrated body of study ordinarily beginning in the fall of the sophomore year. Courses are sequenced so that each course is taught with the assumption that students in a class have a common academic background. To ensure educational diversity, ordinarily at least 50 percent of courses (usually 64 or more semester hours) must be nonbusiness or international study abroad courses. Up to nine semester hours of economics courses may be considered nonbusiness courses.

Foundation prerequisites: Students pursuing a B.B.A. degree must complete Survey of Calculus (MATH 1210) or Analytical Geometry and Calculus I (MATH 1220), or higher level mathematics, preferably during their freshman year. The mathematics requirement should be satisfied before commencing junior-level courses. Elementary Statistics (MATH 1150) should be completed prior to the fall semester of the junior year. Sophomore-level B.B.A. core courses will be completed before commencing junior-level B.B.A. courses.

Curriculum: Eight core courses totaling 32 semester hours are required of all B.B.A. students in addition to the courses required for the particular major (business administration or accounting). The business administration major includes the B.B.A. core courses plus MGMT 4900 Business Strategy and 12 semester hours (typically three courses) of Else School electives totaling 48 semester hours. Students planning to complete degree requirements and leave the College at the end of a fall semester must take Management 4900, Business Strategy, in the spring of the preceding academic year. The accounting major includes the B.B.A. core courses and 28 additional semester hours (seven courses) totaling 60 semester hours. Courses should be taken in the sequence prescribed. The B.B.A. core courses are:

Sophomore Year
Fall Semester:

  • ACCT 2000 Principles of Financial Accounting
  • MGMT 2000 Introduction to Management

Spring Semester:

  • ACCT 2010 Managerial Accounting, Budgeting, and Systems Control
  • ECON 2000 Principles of Economics

Junior Year
Fall Semester:

  • FINC 3000 Principles of Corporate Finance
  • MRKT 3000 Principles of Marketing

Spring Semester:

  • ADMN 3000 Legal Environment of Business
  • MGIS 3000 Management Information Systems

Requirements for the Business Administration Major: Beyond the foundation prerequisites, a minimum of 48 semester hours (12 courses) are required to earn a B.B.A. degree. In addition to the B.B.A. Core, students pursuing a major in business administration must complete MGMT 4900 Business Strategy, to be taken in the senior year, and three Else School elective courses. Students pursuing a B.B.A degree may not use the three Else School elective courses to satisfy economics major or minor requirements.

Requirements for the Accounting Major: Students pursuing the B.B.A. with a major in accounting must complete a minimum of 60 semester hours, including the B.B.A. core, Intermediate Accounting I and II (ACCT 3000, 3010), Federal Taxation of Income (ACCT 4000), Advanced Financial Accounting (ACCT 4020), Auditing (ACCT 4010), Business Law (ADMN 4020), and Senior Seminar in Accounting (ACCT 4900).

The B.B.A core courses are common to both business administration and accounting major B.B.A students. The following table identifies the additional required courses for the junior and senior years for accounting majors. The fifth year of study leading to the master of accountancy degree (M.Acc.), which provides the additional course work necessary to qualify to sit for the CPA exam, is described in other College publications (www.millsaps.edu/esom/).

Junior Year
Fall Semester:

  • ACCT 3000 Intermediate Accounting I

Spring Semester:

  • ACCT 3010 Intermediate Accounting II
  • ACCT 4000 Federal Taxation of Incom

Senior Year
Fall Semester:

  • ACCT 4010 Auditing I
  • ACCT 4020 Advanced Financial Accounting

Spring Semester:

  • ACCT 4900 Senior Seminar (Core 10)
  • ADMN 4010 Business Law

Students majoring in accounting must earn a C- or better in all of the 3000 - 4000 level accounting classes (those with the ACCT prefix). Students majoring in accounting and earning less than a C- in any 3000 - 4000 level accounting course must re-take that course before they will be approved to enroll in other accounting courses.

Accounting majors have the option of participating in an eight-semester-hour, full-time residency program during the spring semester of the senior year. The Accounting Residency program allows selected undergraduate students to work full time for a Big 4, regional, or local accounting firm in the spring of their senior year. In the fall, accounting firms interview Millsaps accounting seniors for spring residency positions. Selected students work full-time, receiving full pay in positions that foster professional growth and maturity.

The Else School also offers the Master of Accountancy degree, which is designed for students who intend to pursue professional careers in public accounting, business, and the government/ nonprofit sector. A M.Acc. degree fulfills the educational requirements to sit for the CPA examination in states that have adopted the AICPA's 150-credit-hour requirement. In general, the M.Acc. program involves a fifth year of study beyond the accounting major. Students who plan to seek an M.Acc. degree should pursue the basic accounting major as outlined above. For more details about the M.Acc. program, see any member of the accounting faculty and other College publications (www.millsaps.edu/esom/).

Bachelor of Arts (B.A.) or Bachelor of Science (B.S.) with a Major in Economics

In addition to other stated degree requirements for B.A. or B.S. degrees, the student majoring in economics will complete 24 semester hours in the core economics courses: Principles of Economics (ECON 2000), Intermediate Macroeconomics (ECON 3000), Intermediate Microeconomics (ECON 3010), Econometrics (ECON 3030), International Economics (ECON 3040), Senior Thesis I (ECON 4901), Senior Thesis II (ECON 4911), and the Senior Seminar in Economics (ECON 4902). In addition, the student must pursue one of three specialized tracks: business economics, quantitative economics, or policy economics. Additional economics courses and other courses required of the economics major depend upon the track chosen. All three tracks require an additional 24 semester hours in order to satisfy their minimum requirements for a total of 48 semester hours.

Requirements for the business economics track: The student choosing this track will take the economics core courses, Money and Financial Systems (ECON 3020) Introduction to Finance (FINC 3000), and any other economics course at the 3000 level or higher. In addition to these economics courses, students pursuing this track will also take either Survey of Calculus (MATH 1210) or Calculus I (MATH 1220), Elementary Statistics (MATH 1150), and Principles of Financial Accounting (ACCT 2000).

Requirements for the quantitative economics track: The student choosing this track will take the economics core courses and any two additional economics courses at the 3000 level or higher. In addition to these economics courses, students pursuing this track will also take Calculus I (MATH 1220), Calculus II (MATH 2230), Elementary Statistics (MATH 1150), and Linear Algebra (MATH 3650).

Requirements for the policy economics track: The student choosing this track will take the economics core courses and any two additional economics courses at the 3000 level or higher. In addition to these economics courses, students pursuing this track will also take either Survey of Calculus (MATH 1210) or Calculus I (MATH 1220), Elementary Statistics (MATH 1150) and any two courses from Economics Policy Analysis (ECON 2200); Legal Environment of Business (ADMN 3000); Introduction to Government (PLSC 1000); American Public Policy (PLSC 3400); The Great Depression (HIST 3210); U.S. History (HIST 2100); or History of the United States Since 1877 (HIST 2110).

Concentrations in the Else School of Management

Entrepreneurship Concentration: Description of concentration: The entrepreneurship concentration allows business students to demonstrate to potential employers or graduate schools particular competence in entrepreneurship within the broader context of the student's degree program.

Curriculum: Else School majors may elect a concentration in entrepreneurship by taking the following courses: Innovation (ENTR 3010), Entrepreneurial Finance (ENTR 3020), Entrepreneurship (ENTR 4010), and Entrepreneurial Investments (ENTR 4020). Entrepreneurial Internships (ENTR 4030) are available and may serve as substitutes for Entrepreneurship (ENTR 4010), and Entrepreneurial Investments (ENTR 4020); however these substitutions are made only with the permission of the course instructor for which the internship is substituting.

Financial Services Concentration: Description of concentration: The financial services concentration allows business students to demonstrate to potential employers or graduate schools particular competence in finance within the broader context of the student's degree program.

Curriculum: Else School majors may elect a concentration in financial services by taking the following courses: Seminar in Portfolio Management (FINC 3900), Money and Financial Systems (ECON 3020), Intermediate Financial Accounting I (ACCT 3000), and Advanced Finance (FINC 4000). These courses total 16 semester hours.

In the event that ECON 3020 or ACCT 3000 is unavailable or when students suffer an unavoidable scheduling conflict with either of these two courses, other courses may serve as substitutes. These courses include Student Managed Fund I (FINC 4002) and Student Managed Fund II (FINC 4012), Intermediate Financial Accounting II (ACCT 3010), and certain Economics or Financial Markets courses. No substitutes are allowed for FINC 3900 or FINC 4000. Substitutions to the recommended curriculum are made only with the permission of the Director of the Bachelor of Business Administration Program.

Global Business Studies Concentration: Description of concentration: The global business studies concentration allows business students to demonstrate to potential employers or graduate schools particular competence in international business within the broader context of the student's degree program.

Curriculum: Else School majors (Business Administration, Accounting or Economics) may elect a concentration in global studies by taking 16 semester hours in the following courses: International travel with the Else School (or in business). Total of eight hours of travel must be met.

One of the following: International Economics (ECON 3040), International Management (MGMT 3030), Senior Seminar: Contemporary Issues and Global Accounting (ACCT 4900), or International Business (MGMT 4010) Choose one course for a total of four hours. And one of the following: International travel with the Else School (or in business), or an elective course approved by the director of International Programs for the Else School in either international business, political science with an international focus, history with an international focus, advanced language of 3000 level or above, or a directed study or internship with an international focus. Typical classes acceptable for an elective (subject to change): Political Science electives: International Relations (2400), Western European Government and Politics (3300), African Government and Politics (3310), Special Topics courses with an international focus (2750 or 4750), Directed Readings if topic appropriate with an international focus (3800); History electives: European Civilization Since 1789 (2350),

African History and Society (2400), Middle Eastern History and Society (2500), Britain and the World, 1914 to the Present (3320), Topics in European Culture and History (3300), History of Modern France (3350), Special Topics in History with an international focus (3750);

Modern Languages electives: 3000 level classes or above.

Minors in the Else School of Management

Minor in Business Administration: A student may elect a minor in business administration by completing Principles of Economics (ECON 2000), Principles of Financial Accounting (ACCT 2000), Introduction to Management (MGMT 2000), and two of the following Else School courses: Principles of Corporate Finance (FINC 3000), Fundamentals Principles of Marketing (MRKT 3000), or Management Information Systems (MGIS 3000). This is 20 semester hours for the minor in business administration. Minors in accounting are not offered.

Minor in Economics: A student may elect a minor in economics with Principles of Economics (ECON 2000), Intermediate Microeconomics (ECON 3010) or Intermediate Macroeconomics (ECON 3000), and any other two economics courses at or above the 3000 level. The economics minor requires a minimum of 16 semester hours. Students pursuing a B.B.A. degree and seeking the economics minor may not apply the courses beyond Principles of Economics (ECON 2000) to satisfy B.B.A. elective requirements.

Other Curricular Policies

Transfer Policy: Students may transfer from other schools and pursue a B.B.A. at the Else School, but at least 50 percent of the B.B.A course work must be taken at Millsaps. For the business administration major, this means at least 24 semester hours of B.B.A. course work must be completed at Millsaps. For the accounting major, 32 semester hours (generally six courses) of B.B.A. course work must be completed at Millsaps. Transfer students may receive credit for Principles of Accounting or Managerial Accounting, Budgeting and Systems Control if they passed comparable courses, completing three semester hours each, with a C or better at their previous institution. Students may receive credit for Principles of Economics if they passed six semester hours in Principles of Economics with a grade of C or better at their previous institution. Ordinarily, students must take the four junior-level B.B.A. core courses at Millsaps. Credit for junior- and senior-level courses taken at other four-year colleges will be evaluated on an individual basis by the Else School. For business administration majors, Business Strategy (MGMT 4900) must be taken at Millsaps; for accounting majors, at least 12 semester hours in accounting (three courses) required in the major must be taken at Millsaps. Ordinarily, course work taken more than six years prior to admission or readmission to the Else School and academic work in which the student receives a grade below C must be repeated. The directors of the respective programs of the Else School will evaluate extenuating circumstances for exceptions to these standards.

Millsaps students who wish to take B.B.A. courses at the 3000 level or above at an institution other than Millsaps must do so at an AACSB International accredited institution and have prior approval from the dean of the Else School of Management. All students are required to complete at least 50 percent of their B.B.A. courses at Millsaps.

Double Majors

Students completing the requirements for the B.B.A. degree must have a primary major in business administration or accounting. A second major may be selected in any other field. Requirements for the second major must be met as outlined elsewhere in the catalog.