University of Maine at Farmington 2018-2019 Catalog

The University
Academic Organization, Faculty Listing
Academic Programs
Admission, Costs, Financial Aid
Academic Policies
UMF Logo

Business Economics
Print This Page

Degree Earned
Bachelor of Arts: Business Economics

This program provides the foundations of both business and economics, while developing the communication skills and technical literacy required in today's business world. On-campus work opportunities, class-based research, internships and extra-curricular activities take students beyond the classroom to become consultants to small businesses, presenters at public hearings, and research assistants for faculty members who are actively engaged in the broader community. Upper level courses in business and economics, and courses in international studies, computer science, recreation management and environmental studies enable students to create programs that prepare them for jobs in the private, public and non-profit sector as well as for graduate study in either business or economics.

Learning Goals:

As UMF graduates with a degree in business economics, students will be able to:

  • Understand financial institutions and become financially literate.

  • Understand the functions and operations of domestic and global markets.

  • Understand a business plan with micro and macro implications.

  • Understand and apply real world data to making decisions and/or recommending policy.

  • Critically examine business and economics paradigms.

  • Become autonomous learners, bringing knowledge and skills learned in one area to enhance and integrate complex decision making in related areas.

Assessment Criteria:

In order to assess our success in achieving the goals of our program listed above, we ask our students to produce evidence of this mastery with papers, group presentations, internships, service learning, research papers and projects, case study analysis, engaged discussion in classes and by examination. In the final analysis, it is our graduates' success in the greater world which we value most highly.


BUSINESS CORE (16 credits)

BUS 208

Principles of Accounting


BUS 210

Principles of Management


BUS 220

Principles of Marketing


BUS 340

Managerial Finance


ECONOMICS CORE (16 credits)

ECO 101S

Principles of Macroeconomics


ECO 102S

Principles of Microeconomics


ECO 385/ BUS385

Projects in Business and Economics


ECO 450

Managerial Economics (the capstone)         



MAT 120M



Concentrations / Electives 20 credits

Total Credits: 56

Students may elect to choose their electives from the following concentrations:

Concentration details are below.


Management and Marketing

Students must take the following:

BUS 375   Marketing Management

BUS 491   Strategic Management

And three other electives at the 200 level or higher from business or economics, chosen in consultation with their advisors.

Suggestions include:

BUS 225, BUS 260, BUS 310, BUS 311, BUS 315, BUS 320, BUS 325. BUS 336, BUS 337, BUS360, BUS480.


Innovation and Entrepreneurship

Students must take:

BUS 323 Digital Marking

BUS 360   Entrepreneurship

And three other electives at 200 level or higher from business or economics, chosen in consultation with their advisors.



Students must take:

ECO 305 International Economics, and one of

BUS 335 International Business, or

BUS 336 International Management, or

BUS 337 International Marketing

And three other electives at 200 level or higher, chosen in consultation with their advisors.

Suggested courses include:

BUS 335, BUS 336, BUS 337, ECO 360,


Economics and Financial Services

Students must take:

ECO 309 Money and Banking

And either:

BUS 206 Financial Planning, or

BUS 345 Investment Management.

And three other electives at 200 level or higher from economics or business, chosen in consultation with their advisors.

Suggestions include:

ECO 228, ECO 230, ECO 305, ECO 325, ECO 360.

Students may count BUS 397 (independent studies) or BUS 396 for up to 4 credits towards their business electives.

Students must maintain at least a 2.00 GPA and achieve a C- or higher in any courses that count towards a major.


1. Students must maintain at least a cumulative 2.00 GPA and achieve a C- or higher in any courses that count towards the major.

2. The Business Economics faculty must give prior approval for any courses that are not specified in current reciprocity agreements that students propose to transfer in to satisfy major requirements. Students must take 400 level economics and business courses at UMF.



One year of one foreign language at the college level or two years of one foreign language at the high school level.


For specific information about general education requirements and expectations, see the General Education Requirements in the Academic Programs section of this catalog.


See other years' Catalogs