Introduction to Economics

By studying economics, we can improve our understanding of our world. We can analyze various economic/business/social issues encountered in our daily lives; why does the housing price increase rampantly from time to time, causing big social deprivations; why can we find jobs easily in some areas, but not in others; why are so many people in South-West Asia and Africa caught in the poverty trap and subject to severe social inequalities; whether is it possible that the gap between the developed and developing economies will get smaller and smaller.

Introduction to Management

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.

Microeconomics

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

Macroeconomics

Macroeconomics is the study of the structure and performance of national economies and of the policies that governments use to try to affect economic performance. This course is meant to study problems in macroeconomy, where decision-makings about economic growth, employment and unemployment, investment, consumption, export and import are made.

Statistics for Economics and Management

Business and economic statistical analysis, an introductory course in social science research methods, deals with descriptive statistics, probability and probability distribution, sampling and sampling distributions, statistical estimation and hypothesis testing, and independence test.

This course will introduce students to essential knowledge, tools, and skillsets in conducting their own statistical analysis in business environments, marketplaces, and the economy.

Mathematics for Economics

The purpose of this course is to understand basic concepts and properties in mathematical economics. The pre-requisite includes basic concepts in differentiation, logarithm, and the other basic mathematics which the high school curriculum in Korea is covering. In this course, I'll focus on providing the intuitions of concepts and properties. A sufficient number of problem sets would be given in class. Basic optimization, linear algebra, differentiation, implicit theorems would be covered during the semester.

Management Information Systems

Marketing

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

Students will try to solve problems together with the professor and TA in the class, and thus students will use most of their time in the class practicing how to find solutions.

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

This course is designed to develop analytical skills for making corporate investment with regards to financial decisions and risk analysis. Students will study various theories including the concept of present value, the opportunity cost of capital, discounted cash flow analysis, a valuation technique, risk and return, capital asset pricing model, corporate capital structure, and dividend policy. The course teaching methodologies will be composed of lectures and homework assignments.

Organizational Behavior

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

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.

Econometrics

Theory of Games and Information

International Finance

In this course, we predict the consequences of interactions by analyzing rational individual decisions in strategic situations where two or more people interact. We study various equilibrium notions for various game situations in the following order:

1. Games in which decisions are made simultaneously are analyzed using the notion of Nash equilibrium.
2. Games in which decisions are made sequentially are analyzed using the notion of Subgame Perfect equilibrim.
3. Analyze repeated games in which simultaneous games are played over multiple periods of time.
4. Analyze the simultaneous games with incomplete information about the type of other players or external environment by using the notions of Bayesian Nash equilibrium.

Using these equilibrium notions, we analyze issues such as output and price competition among oligopolistic companies, tariffs war between countries, competition for votes, collusion, advertising competition, adverse selection due to asymmetric information, contract design to prevent moral hazard in the principal-agent relationship, contract, and bargainings between buyers and sellers. This course will be of great help not only to economics majors, but also to students majoring in management, mathematics statistics, international regional studies, and law.

Production and Operations Management

Cost & Management Accounting

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

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 English for lectures, text books and examination.

Intermediate Accounting 2

This course is a continuation of Intermediate Accounting 1 and covers topics that are basic to prepare, understand, interpret, and use financial statements in accordance with International Financial Reporting Standards (IFRS) in more detail than the introductory course.

Human Resource Management

This course will provide you with a systematic understanding of HRM practices. The topics include HR environment, Acquiring, training, and developing human resources, Assessing and improving performance, Compensating human resources, Labor relations, etc. They will be addressed from a strategic perspective. Students will have opportunities to intensively practice and explore HRM issues while completing the team project and individual assignments.

Stewardship and Personal Finance

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 financial planning. 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.

International Business

This course introduces students to the world of international business and management by studying historical and cultural influences; government, and business policies; and organizational structures and strategies that are important to understanding our global economy. Students also learn about trade relations, international finance and legal and labor agreements. Towards the end of the course, we will look at the current challenges brought about by technology, world tensions and terrorism, as well as organizational requirements today in data collection, automated production systems, marketing and promotion, and career planning.

Business Analytics

Economic Development & International Cooperation

Capstone Design

This class will mainly consist of a CAPSIM competitive business simulation between teams. This will put each team in charge of competing companies in the same industry. As a team, you will have to manage R&D, product offerings, production, marketing, finance, etc. to maintain a competitive standing in the industry. It will be a good chance to pull together what you've learned in the various other business courses you've taken.

Marketing Management

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.