School of Management and Economics

Introduction to Management

3credit (Spring&Fall)

- The effective management of work of employees within organizations is the backbone of industrialized societies. This is an introductory core course to explore critical management skills involved in planning, organizing, controlling and leading an organization especially focused on startup or venture companies. Topics covered include business environment, business idea, business model, entrepreneurship, business management, human resources teamwork, funding and financial management, marketing and strategy, accounting, and management information system.The course aims to equip students with knowledge of how to build and manage a startup business and professional skills especially for startup companies, and encourages practicing them as Christian business professionals in the future.

- The effective management of work of employees within organizations is the backbone of industrialized societies. This course explores the various knowledge domains related to management. It will focus on basic managerial functions such as, planning, organizing, leading, and controlling. Topics covered include the business environment, business ownership, entrepreneurship, business management, marketing, finance, accounting, MIS, and operations management

Introduction to Economics

3credit (Fall)

By studying economics, we can improve our understanding of the world and engage with problems around us; why housing prices increase dramatically causing significant social upheaval; why jobs can be found easily in some areas, but not in others; why are people in South-West Asia and Africa facing severe poverty and social inequalities; is there any chance for the gap between developed and developing economies to be narrowed?

Secondly, this course equips students with the tools needed to become a homo-economics and leaders. Every day, people make decisions about their finances; how much money to spend on food and clothes; how much to save for the future or on entertainment and pastimes. Managers, have to decide how high to set the price of a new product or how much money to borrow from a bank at a certain interest rate when to financing a new investment project. Fund managers responsible for designing a portfolio must decide how much should be allocated to stocks, bonds, and derivatives. Tools discussed in this course encourage students to think about possible alternatives and make wise choices.

 

    - Students also learn the impacts and limitations of economic policies during the policy making process. Voters need to be aware of how the economy is doing and be aware of how government policy affects their economic lives. Casting votes, allows the study of criteria for voting. Finally, students have an opportunity to design a future economy based on their ideas and vision.

Microeconomic

3credit (Spring&Fall)

- This course studies the rational choices of economic agents’ - how they optimize their objectives under certain constraints. Topics cover the theory of demand and supply derived from the analysis of choices made by consumers and firms, the theory of market structure such as competition, monopoly, oligopoly and monopolistic competition. Throughout this course, mathematical analysis will be widely used.

- This course begins with an introduction to supply and demand and the basic forces that determine an equilibrium in a market economy. It introduces a framework for learning about consumer behavior and analyzing consumer decisions. Attention is focused on firms and their decisions to optimize production and the impact of different market structures on firms' behavior. Basic game-theory concepts and tools are examined and applied to more advanced topics in microeconomics.

Statistics for Economics and Management

3credit (Spring&Fall)

- Probability and statistics are central to data analysis and decision-making under the uncertainty found in economics and management. Moreover, statistical methods are useful in business and the marketplace. Therefore, this course introduces students to important concepts and tools which will allow them to analyze and interpret statistical results from real-world situations.

 - There are three sections of Statistics for Economics and Management . Although more theoretical and mathematically demanding than other sections, it lays a good foundation for more advanced statistical analysis such as econometrics. Hence, this section is particularly recommended for economics students, though helpful to non-economics students too.

Mathematics for Economics

3credit (Spring&Fall)

The purpose of this course is to understand basic concepts and properties in mathematical economics. The pre-requisites for this course include basic concepts in differentiation, logarithms, and other basic mathematics covered in the Korean high school curriculum. This course, focuses on intuitive approaches to concepts and properties. A sufficient number of problem sets are given in class. Basic optimization, linear algebra, differentiation, implicit theorems are covered during the semester.

Management Information Systems

3credit (Spring&Fall)

This course surveys the fundamental concepts of organizational and technical aspects of information systems and technologies.Topics such as management of information, information technology, information resources management, management support systems and systems development, will be discussed to provide the understanding of how information systems can help make better decisions, gain competitive advantage, take advantage of emerging technologies, and align information systems to general business functions.

Marketing Management

3credit (Spring&Fall)

- Marketing is designed to serve our neighbors’ needs and wants. It is a powerful tool to change the world positively, when used as the Bible says, “Do nothing from selfishness or empty conceit, but with humility of mind regard one another as more important than yourselves. Do not merely look out for your own personal interests, but also for the interests of others” (Philippians 2:3-4).

- This course introduces you to marketing theories and perspectives essential to the success of both for-profit and not-for profit organizations. This course will use a combination of analytical and experiential methods to learn about the following topics: understanding consumers’ needs and wants, designing and delivering value-added products, selecting target markets, product positioning and branding, and various marketing communication methods.

Business IT Practice

3credit (Fall)

- This class is to improve students' productivity skills with computers by practicing advanced topics in spreadsheet and database management software.

- Students will practice how to derive useful information from raw data, and will also practice how to make models and run simulations to make rational decisions, and finally will practice writing programs to tackle complex problems.

Financial Management

3credit (Spring&Fall)

- Financial Management studies the subjects related to financial decision making from the perspective of the corporate financial manager. Every decision made in business has financial implications. Therefore, it is necessary for all students who are involved in the field of management to study Financial Management.

- This course touches on all areas of finance, including corporate finance, financial markets, and investment. We will focus on decision-making in fund raising and operating. This course is recommended for sophomores with a major or minor in management.

Organizational Behavior

3credit (Spring&Fall)

Managers and business professionals make decisions, allocate resources, and direct the activities of others in order to achieve the goals of their organization. These actions can affect the behaviors and performance of others. Thus, to be effective as a manager or a business professional, one needs to understand the complexities of human behavior and interaction in the workplace. In this course, we study human behavior within an organizational context. At the individual level, we will consider personality, learning, decision making, and motivation. At the group level, we examine group processes, communication, leadership, power, politics, conflict, and negotiation. At the organization level, we examine organization structure and design, organization culture, and organization change.

Principles of Accounting

3credit (Spring&Fall)

- Accounting is the language of business much in the way that math is the language of physics. A solid understanding of accounting principles is essential who wants to understand modern business. This course will be extremely useful not just to people pursuing an accounting track, but also those who plan to become managers and even those interested in learning to invest in stocks wisely.

- This course is an introduction to the basic concepts and principles of financial accounting to enable students to be familiar with accounting terminology and methods so that they may utilize accounting information for decision making in business situations.

Financial & Monetary Economics

3credit (Spring)

- This course is an introduction to foundations of financial markets and financial institutions. The course will help students to understand why finance is needed for individual economic agents as well as for a whole economy. The course will also devote a considerable amount of time to explaining how financial markets work. In order to understand that, students will learn basic theories related to the financial markets. In addition, the course will deal with what roles financial institutions such as commercial banks and securities firms play in the financial markets. Students will be able to see creative responses of the financial institutions to the needs of borrowers or investors under a variety of economic conditions. Finally, the course will discuss why government and central bank play an increasingly important role in the current financial system.

- In MEC 303 & GMP 405: International Economics, we will use the same fundamental methods of analysis as in other branches of economics, but we will encounter new and different concerns, because international trade, investment and foreign transactions occur between independent nations. Each nation has its own sovereignty and thus can pursue policies to better its interests, which are some rationales that make international economics distinctive from other principles. We will discuss important topics including foreign exchange rate, monetary transactions, open macroeconomic phenomena, gains from trade, pattern of trade, controversies in trade policy, international negotiations and efforts for freer trade.

International Economics

3credit (Spring)

In the course of International Economics, we will use the same fundamental methods of analysis as in other branches of economics, but we will encounter new and different concerns, because international trade, investment and foreign transactions occur between independent nations. Each nation has its own sovereignty and thus can pursue policies to better its interests, which are some rationales that make international economics distinctive from other principles. We will discuss important topics including foreign exchange rate, monetary transactions, open macroeconomic phenomena, gains from trade, pattern of trade, controversies in trade policy, international negotiations and efforts for freer trade.

Labor Economics

Theory of Games and Information

3credit (Spring&Fall)

- This course is an introduction to game theory. Game theory is the study of multi-person decision problem. Such problems arise frequently in various situations such as economics, political science, and law. Therefore, the course will deal with a variety of game situations which we can look at and focus on how useful the theory is when we strategically analyze such situations.

- In addition, game theory is based on logical thinking. So if students are able to think logically and have analytical skills, they will not have difficulty in understanding the class even though they have no deep knowledge of economics. Furthermore, students will be able to improve their logical thinking skills through this course.

Advanced Microeconomic

3credit (Spring)

- This course studies advanced topics in microeconomics by using a mathematical approach. Topics cover game theory, labor market, general equilibrium, advanced consumer theory, choices involving risk, adverse selection, signaling, screening, and behavioral economics.

Geography and Urban Economics

3credit (Spring)

The course provides a basic understanding of how urban agglomeration can be interpreted in the perspectives of economics. The main contents consist of three parts. 1. Economic analysis for urban agglomeration: why and how the suppliers and the demanders are locational agglomerated in a modern economy. 2. Economic analysis for urban structure:how the structure, size, and shape of cities are related to the optimal location selection problem of economic agents. 3. Introduction of the Biblical viewpoint and related studies throughout the geographical-economic problems. We would discuss over Henry George's ideas and the criticism and the application. This course provides not only lectures but includes team-discussion about 10 ~ 20 minutes. The organization of team would be according to the size of the course.

Quantitative Analysis for Management

3credit (Spring)

In this course, we study various optimization models. The following topics will be covered: : Linear programming, Network models, integer programming, Project scheduling, Waiting line models, Inventory models

Production and Operations Management

3credit (Spring&Fall)

In a competitive global environment, operations management involves the integration of numerous activities and processes to produce products and services. In this course, we consider key performance measures of operations as well as important concepts for improving the performance of operations along these dimensions. The goal of this course is understanding of the role that operations management plays in business processes.

Cost & Management Accounting

3credit (Spring&Fall)

Unlike financial accounting prepared for external users, managerial accounting is designed to help decision makers within the firm. This course will focus on product costing and cost analyses, cost information relevant for decision making, cost analysis for pricing decisions, and performance evaluation of business units and incentive scheme.

Intermediate Accounting 1

3credit (Spring&Fall)

This course covers intermediate level financial accounting matters including Financial reporting and accounting standards, Conceptual framework for financial reporting, Accounting information systems, Financial statements, Time value of money, Cash and receivables, Valuation of inventories, Property, plant and equipment and its depreciation, Intangible assets, Current and non-current liabilities under International Financial Reporting Standards (IFRS). This course is intended to provide in-depth accounting concepts, methods and uses of financial accounting in order for students to prepare, interpret and utilize major financial statements and its contained information for key business and investment decision making. This course uses Korean for lectures but uses English for text books and examination.

Intermediate Accounting 2

Human Resource Management

3credit (Spring&Fall)

This course will provide you with a systematic understanding of HRM practices. HR topics (e.g., recruitment, selecting, training & development, performance management systems, compensation systems, etc.) will be addressed from a strategic perspective. Students will have opportunities to intensively practice and explore HRM issues while completing team project and team-led learning activities.

Business Strategy

Technological Innovation & Business Application

3credit (Spring)

- This course investigate innovation driven by technology in the era of digital transformation represented by the Fourth Industrial Revolution, and explore new business opportunities for key industry-specific applications of core technologies such as artificial intelligence, blockchain, and the internet of Things.

International Finance

3credit (Fall)

This course provides an overview of open economy macroeconomics, and international financial markets and policies. My lectures will focus on the following topics: the exchange-rate determination, the importance of the balance of payments for both the domestic economy and the economies of other countries, international capital flows, the impact of internal debt on the balance of trade, and the interaction and potential conflicts between domestic and international economic policy objectives.

Stewardship and Personal Finance

3credit (Fall)

This course provides students with a study of the Biblical concept of stewardship and an introduction to the management of our personal finances. After a thorough examination of Scriptural teachings on money and wealth, students are exposed to key areas of finance including the time value of money, budgeting, banking, debt and borrowing, investing, taxes and financialplanning. Students will develop the skills necessary to intelligently manage their financial resources to the glory of God. As Christians, our main purpose in life is to honor God in everything that we do. How we manage our personal finances is one of the most significant ways in which we can honor Him. The Bible deals extensively with money and wealth because our attitude towards our finances is often a close reflection of the attitude of our heart, testing the strength of our claimed loyalties to Christ. Scripture gives us clearly defined responsibilities with regard to wealth. Wealth can be managed and used properly, enhancing our effectiveness for God’s Kingdom or wealth can be mismanaged and used improperly, with destructive consequences.