Economics & Business Administration
The Economics and Business Administration Department offers programs that provide a broad background for students who are preparing for careers in business or international business, accounting, graduate study in Economics, Business or Law, or for general civil service in state, local, national or international agencies. Students receive individual attention to receive the best undergraduate education. Two of our six full-time professors are recipients of Distinguished Teacher awards; another is the Maryland Accounting Teacher of the Year Award, as selected by her state professional organization.
Lewis Recitation Hall
Dr. Ethan A. Seidel
Majors & Courses
Faculty office doors are open to our students, and our courses are rigorous and challenging. Students who major in this program, in addition to acquiring a broad liberal education, prepare for careers in business and finance; for careers in government such as economic analysis, administration, and foreign service; and, by completing graduate study in a university, for professional careers in law, business, and economics.
McDaniel College’s Economics graduates are admitted to fine graduate schools in economics, business administration, and law. Others go directly to jobs in businesses such as banking, insurance, and manufacturing, while others secure positions in federal departments such as Labor, Commerce, FDIC, IRS, State, NSA, and Federal Reserve Board. A student may also prepare to teach social studies in public secondary schools.
“During my freshman year, I took Principles of Accounting which fulfilled both the First Year Seminar requirement as well as one of my major requirements. I was able to become accustomed to both the college and business worlds. There are many different major and non-major courses I have taken for my degree, so that I can be exposed to a diverse world. I am very excited to be taking a college Entrepreneurship course this semester where I can gain even more knowledge on what it takes to start a business.”
- Accounting Economics
- Business Administration
- Business Administration - German Dual Major
- Economics - Business Administration Dual Major with specialization in Financial Economics
- Economics - Mathematics Dual Major
The dual or double major of Economics and Business Administration combines the advantages of both theoretical and applied disciplines.
Other educational options include Economics with dual majors in a Foreign Language, Mathematics, Political Science, Pre-Legal; or minor in Education to earn certification in Secondary education.
Minors & Focus Areas
Students majoring in Economics as a pre-law course of study are urged to include electives from one or more of the following fields: Business Administration, English, History, Political Science and International Studies.
Professor and Department Chair Ethan Seidel
(Ph.D., Johns Hopkins University), has served as an administrator and professor at McDaniel since 1969 and was honored as the inaugural recipient of the McDaniel Medallion in 2014. He was selected in 1981 and 1991 for the college’s Distinguished Teaching Award. The Ethan A. Seidel Chair in Economics and Business Administration was established in 2009 in his honor by board chair Martin K.P. Hill and his wife, Kelly W. Hill.
Professor Richard Claycombe
(Ph.D., George Washington University), focuses his teaching and interest on Industrial Organization and Managerial Economics and frequently involves his students in his scholarly pursuits of developing statistically valid surveys and most recently his examination of the impact in higher education of the trend toward a four-day week and the U.S. Department of Education’s new regulations requiring schools to define credit hour. Website
Lecturer Donald Lavin
(M.P.A., M.B.A., Loyola College), is a certified public accountant (C.P.A.) who teaches courses in his areas of expertise, Business Ethics and Corporate Finance, and works with students to help them land internship opportunities with such corporate powerhouses as Morgan Stanley Smith Barney, Bond Beebe, The Baltimore Ravens, T. Rowe Price, Baltimore Orioles, Merrill Lynch, Booz, Allen, & Hamilton, Enterprise Rent-A-Car and Legg Mason.
Associate Professor Kevin McIntyre
(Ph.D., University of Virginia), is not only a much quoted expert in his course areas of International Economics and Macroeconomics, but also a gourmet chef when it comes to preparing his Fed Challenge students for competition – weekly “talk economics” meetings, subscriptions to the Wall St. Journal and a bi-weekly home-cooked gourmet meal of chicken cacciatore or shrimp creole at the McIntyre home ready the team to vie for the championship.
Professor Susan Milstein
(M.B.A., Mt. St. Mary’s College), is a certified public accountant (C.P.A.) who teaches Intermediate and Managerial Accounting in the classroom and offers her students invaluable on-the-job training with the Volunteer Income Tax Assistance (VITA) program she initiated 21 years ago that trains about 30 Accounting majors to prepare income tax returns for about 180 low-income individuals each year while earning internship credits.
Professor John Olsh
(Ph.D., University of California, Davis), the inaugural recipient of the Ethan A. Seidel Chair in Economics and Business Administration, is the consummate teacher and a recognized scholar in his areas of interest, the history of economic thought and economic development, who engages and challenges his students even while taking on extra classes.
Associate Professor Julie Routzahn
(Ph.D., American University), is a certified public accountant (C.P.A.) who teaches Cost Accountingand Corporate Finance while overseeing The Gill/McDaniel College Finance Case competition, the intercollegiate program she designed to give students a real world scenario in which to utilize what they have learned about corporate finance and marketing.
Our graduates distinguish themselves by being accepted into some of the finest graduate schools in business, economics and law:
- Johns Hopkins
- Wake Forest
With MBA, CPA, or PhD in hand, they join those who choose to enter the work force directly; all are well received and thrive today in many businesses and various government agencies:
- Allegis Group
- Bank of America
- Berkshire Hathaway
- Bond Beebe, CPAs
- Bureau of Labor Statistics
- Deloitte and Touche
- Department of Energy
- Envir. Protection Agency
- Erickson Retirement Communities
- Grant Thornton
- Gross Mendelsohn, CPAs
- Mercy Hospital
- National Security Agency
- Northrup Grumman
- Ripken Baseball
- RSM McGladrey, Inc.
- Smith Barney/Citigroup
- T. Rowe Price
- The Financial Accounting Standards Board (FASB)
For students who are seeking applied areas of study, we have courses in entrepreneurship and management, and offer expanded accounting and finance options, as well as an internship program where we place interns in businesses in local community and with Baltimore, MD and Washington D.C. firms.
Recent internship sponsors include:
- Allegis Corporation
- Baltimore Orioles
- Baltimore Ravens
- BB&T Bank
- Bond Beebe
- Booz, Allen, & Hamilton
- Enterprise Holdings
- Knorr Brake
- Legg Mason
- Merrill Lynch
- MGH Advertising
- Smith Barney
- T.Rowe Price
A sample of recent student-faculty research collaboration includes:
|Dr. Kevin McIntyre||Reconciling the Efficient Markets Paradox: Pitting Speculative Savvy Against Market Efficiency|
|Jeff Davis||Dr. Richard Claycombe||Large Market Teams Dominate Major League Baseball: Fact or Fantasy|
|Andrew Rauch||Dr. John Olsh||Reservation Restoration: An Overview of the Economic Situation on American Indian Reservations|
Omicron Delta Epsilon Honor Society
McDaniel has a chapter (the Beta chapter in MD was established in 1968) of Omicron Delta Epsilon, the national honor society in Economics to promote scholarship in Economics and to recognize good performance in the study of Economics. Students are chosen in their junior year.