Allegheny College will introduce a new major in business that integrates classroom learning with experiential opportunities available through the college’s Center for Business and Economics. The program will be offered beginning with the 2018–19 academic year by the Department of Economics, which has provided a business/managerial track within its economics major for 18 years.
Posts Tagged ‘Economics’
December 11th 2017
November 21st 2017
Morgan Boyd’s campaign for New Wilmington Borough Council was “as grassroots as it gets,” he said.
“It was me and a picket sign,” the 19-year-old Allegheny College student said. And a lot of walking, talking and listening.
Running as an independent, Boyd collected the most votes — 241 — in the five-person race for four open council seats on Nov. 7. The lifelong New Wilmington resident will take office in January in the 2,200-person borough, located about 60 miles north of Pittsburgh in Lawrence County.
Allegheny College Receives $590,000 Gift to Support Center for Business and Economics, Student Scholarships
November 14th 2017
Allegheny College alumnus Lance Zingale and his wife, Karen, have made a $590,000 gift to support Allegheny’s Center for Business and Economics (CBE) and student scholarships at the college.
The Zingales’ commitment will establish a $500,000 endowment to fund initiatives at the CBE, which provides business-related internship, research and other experiential-learning opportunities for students.
October 23rd 2017
Kim Tillotson Fleming, chair and chief executive officer of Hefren-Tillotson, Inc., a privately held Pittsburgh-based investment firm, will visit Allegheny College as its executive in residence on October 30-31.
The Executive in Residence Program, sponsored by the college’s Center for Business and Economics, is designed to connect students and faculty with prominent business executives who spend several days on campus speaking about their life experiences in business, paths to success, and lessons learned.
“As a trustee at Allegheny College, my favorite times have been when we are interacting with the bright young student minds,” Fleming said. “I am honored to be the executive in residence this year and hope to share some words of wisdom that will be meaningful to the students as they prepare to make a difference in the world. (more…)
October 11th 2017
Lt. Gen. Jon M. Davis, above left, experienced plenty of exhilarating moments during his career in the U.S. Marine Corps, launching in his Harrier jump-jet from amphibious carriers and from austere forest roads in Germany. Commanding the Marine Corps Aviation Weapons School, he flew with and taught pilots the advanced tactics they needed to win the Cold War and support the Marines on the ground.
“You have to be disciplined and precise in all you do in Marine aviation — especially in a single-seat jet strike fighter,” says Davis, who graduated from Allegheny in 1980 with an economics degree.
During his years as a military aviator, Davis never had to eject from his aircraft — and finished his career mishap free. “Not in over 4,500 hours of military flying,” he says.
In July 2017, Davis, whose call sign was “Dog,” retired after 37 years in the Marines, most recently as the Pentagon-based deputy commandant for aviation, a post he had held since 2014. The job entailed making sure the Marines’ 1,300 aircraft were equipped and prepared to support 47,000 combat-ready Leathernecks.
September 14th 2017
Pittsburgh has become an international model for how a city remade itself. How did that revitalization happen? What were the ingredients and decisions that drove success? What lessons can other cities learn?
Former Pittsburgh Mayor Tom Murphy will address those and other questions during a talk on Friday, Sept. 22 at noon in Allegheny College’s Quigley Hall auditorium. The event, “Reaching for the Future: Competing in the 21st Century,” is free and open to the public.
June 1st 2017
Allegheny College economics major Brett Barrett absorbed the energy as he toured the world headquarters of Bloomberg LP in Midtown Manhattan last October.
“It just had one of those atmospheres that make you want to work there,” Barrett, a senior, recalls.“You could just tell everyone was vibrant and striving to be their best.” The financial information services firm was one of four major corporations that Barrett and two dozen other Allegheny students visited on a two-day tour of New York City.
A few months later, back on the Allegheny campus, College Trustee Jennifer Daurora ’99 shared career insights with several dozen students while they munched on pizza in Quigley Hall.
“I love questions,” Daurora, director of operations for McGinnis Sisters Special Food Stores in Pittsburgh, said as she reached the end of her presentation. Daurora rewarded the first student to raise his hand with a coffee shop gift card.
Though separated by some 400 miles, Barrett’s trip and Daurora’s talk have a common thread. They’re part of a sustained effort to help prepare Allegheny students for careers in business — in particular through the business economics track in the College’s economics major and the Center for Business and Economics.
Why study business at Allegheny instead of a university with a traditional business administration program? That’s a question that high school students and families at admissions events often pose to Stephen Onyeiwu, Economics Department chair and Andrew Wells Robertson Professor of Economics.
Onyeiwu often frames his answer as “liberal arts-plus.” He explains that Allegheny students can take the courses they would find in business programs, such as finance, management, accounting, entrepreneurship, human resources and more. But they also gain the abilities that are hallmarks of a liberal arts education: writing and speaking well, thinking critically, integrating different areas of study in analyzing a problem, and contributing to the good of the community.
“Our students learn how to adapt and to be lifelong learners,” Onyeiwu says. “We teach them all the time that society is not static; society is dynamic. Our students learn how to reinvent themselves.”
Like all Allegheny students, economics majors in the business economics track must also declare a minor (or a second major) in another field. That breadth encourages students to approach problems from multiple perspectives and also helps them become more marketable to employers, says Chris Allison ’83, Economics Department entrepreneur in residence and Center for Business and Economics co-director.
“We’re living in a global economy so you have to be a person of the world,” says Allison, also a member of the College’s Board of Trustees. “The way you become a person of the world is to expose yourself to learn other disciplines.”
Senior Bethany Bauer is doing just that. A double major in economics and French, she became interested in globalization after an introductory course with Onyeiwu. Bauer also studied abroad for a semester in France during her junior year. While her courses there didn’t focus on business, she did observe differences between the retail sector in Europe and the United States, thanks to insight she gained through an internship with the Pittsburgh-based Giant Eagle supermarket
Bauer’s Senior Comprehensive Project — which includes a chapter written entirely in French — focuses on foreign aid to Haiti. It’s a topic she developed with the guidance of her advisor, Professor of Economics Tomas Nonnenmacher ’90.
“Without Professor Nonnenmacher’s help, I wouldn’t have even thought to look at a former French colony, to look at one of them through the lens of economics,” says Bauer, who is seeking a career in international business.
A Change in Name — But Not in Rigor
Bauer is among the 50 percent of Allegheny economics majors who pursue the business economics track. Until last fall, the program was known as the managerial economics track, which was established in
2002 through the leadership of Professor Emeritus of Economics Donald Goldstein.
Initially, naming the program something other than “business” served as a differentiator among other colleges, Onyeiwu explains. However, as increasing numbers of students expressed an interest in the field, the Economics Department and admissions office saw an opportunity.
“The change in name has allowed Allegheny to connect more directly with students interested in business and more effectively share the program’s longstanding strengths with them,” says Cornell LeSane II, vice president for enrollment and dean of admissions. “We have eliminated a barrier for students and families who might not have even considered Allegheny simply because they didn’t see ‘business’ on a list of our academic programs.”
The renaming hasn’t diminished Allegheny’s emphasis on situating the study of business in the broader context of economics, Allison says. It’s a rigorous curriculum that requires students to consider more than simply what makes a business successful. They also examine its place in the overall market and how economic principles and strategies influence a company’s day-to-day operations.
“Some people in business, I think, not only do they get the answers wrong, they don’t know the questions to ask,” Allison says. “Because we’ve got that really, really strong underpinning in economics, I think our students know how to ask not only ‘why,’ but ‘why not’” when studying an issue.”
A Centered Approach
The business economics track also complemented a recent initiative to create the College’s Center for Business and Economics (CBE). Part of the Allegheny Gateway, the CBE helps connect students of all majors with business-related learning opportunities outside of the classroom.
“It doesn’t stray away from that liberal arts foundation, but rather tries to build on those ideals such that our students are ahead of the curve when they are hired because of what they’re doing here,” says Russell Ormiston, CBE co-director and assistant professor of economics.
Helping students find internships has become a key part of the CBE’s work in partnership with the Gateway. Students in the business economics track are required to complete an internship, and many complete more than one.
Prior to his fall visit to Bloomberg, Barrett spent two summers interning with The Brown Hurray Plantz Group, a Merrill Lynch branch office in Sewickley, Pennsylvania. Three Allegheny alumni at the firm — College Trustee William Brown Jr. ’80, Andrew Niklaus ’15 and Anton Plantz III ’07 — mentored Barrett and provided one-on-one help with navigating the wealth management industry.
“I was able to learn so much and ended up falling in love with the profession and am pursuing it as a career opportunity,” says Barrett, a Spanish minor. “The internships are a great opportunity, and Allegheny alumni are the best way to go about getting one because they know how qualified you’re going to be.”
Remembering Their Roots
As Barrett discovered, students pursuing business careers gain access to a powerful network of Allegheny graduates. “The alumni engagement has been tremendous,” Ormiston says. “It’s wonderful as an educator to have those kinds of resources available.”
That connection translates into alumni executives like Daurora visiting campus to teach and advise students in the classroom, on panels and through one-on-one mentoring. In addition, Allegheny graduates are opening doors at their places of employment for students, including a biennial trip to visit firms in New York City.
The New York City visit last October included meetings with John Gregory ’89, managing director at Wells Fargo Securities; Bruce Thompson ’86, an Allegheny trustee and vice chairman at Bank of America; Karen Ubelhart ’77, an Allegheny trustee and industry analyst with Bloomberg; and Jonathan Drescher ’84, senior vice president of project development for The Durst Organization.
Alumni involvement not only helps current students learn about careers and find internships, but it also supports graduates as they seek to advance in their careers. Those relationships often result in firms hiring several Allegheny graduates, Onyeiwu says.
“That is what often carries our students into that second or third job, when you have that network of alumni and former classmates,” he says. “Our students are very close — they learn collaboratively, they do things together, they work as a team. Then they use that teamwork to build a network when they graduate.”
Alumni also are providing generous financial support for business education at Allegheny. The members of the CBE Board of Visitors, an advisory group of executives, recently established an endowed fund to support internships. Additional resources, Ormiston says, expand the learning opportunities the CBE and the Gateway can offer to students.
Allison, who has taught at the College since 2006, notes that it’s especially gratifying when students he has mentored return to help current students. “That’s the best for me,” Allison says. “It’s really fun to watch them come back and see how they’ve developed into seasoned executives.”
Adds Onyeiwu: “Allegheny graduates don’t forget their roots.”
This article appeared in the Spring 2017 issue of Allegheny magazine.
May 1st 2017
Liana Leja, an Allegheny College senior majoring in biology, won first prize and $5,000 in Allegheny’s 11th Annual Big Idea Competition, a contest sponsored by the college’s Center for Business and Economics and modeled after ABC’s popular “Shark Tank” show.
Leja’s big idea: a mobile health care van, called the “Care Van,” that would operate in conjunction with Meadville Medical Center to provide basic health care to a mostly rural, underserved population.
Greg Bras, a senior economics major from Saegertown also earned an honorable mention in the competition for his work on additive manufacturing.
See full coverage in The Meadville Tribune here.
April 20th 2017
The Center for Business and Economics at Allegheny College will hold its 11th Annual Big Idea Competition on April 28-29 in Quigley Hall. The contest emulates the experiences seen on the popular CNBC broadcast, “Shark Tank”. The public is welcome to attend the final round of presentations on Saturday, April 29 from 9 a.m. to 3 p.m.
Students will present entrepreneurial concepts with the chance to receive funding through cash prizes. The ideas must fit into one of four areas: For-profit Business, Not-for-profit Social Venture, Research Project, or Community Engagement Initiative. Students work in teams and design 20-minute presentations for their ideas, which they present at the competition.
April 19th 2017
Jesse Tomkiewicz and Carlos Sanchez had a simple but powerful message for Harrisburg: Invest in education.
The first-year Allegheny College students were among the more than 225 students from more than 30 private nonprofit colleges and universities who traveled to the state capital on April 4 as part of Student Aid Advocacy Day, sponsored by the Association of Independent Colleges & Universities of Pennsylvania. The annual event gives students from AICUP-member institutions a chance to meet legislators and encourage them to support private colleges and universities. Allegheny has been sending student representatives for at least the past five years.
This year’s event focused primarily on opposing a 50% proposed cut in institutional assistance grants, maintaining funding of PHEAA grant program, and growing the Ready to Succeed Scholarship program to benefit more middle-income students.
Tomkiewicz and Sanchez spent the day meeting with staff members from the offices of Rep. Brad Roae, Rep. Mike Schlossberg, Rep. Peter Schweyer, Sen. Michele Brooks, Sen. Pat Browne, and Gov. Tom Wolf. At each meeting, they handed out fact sheets and information detailing how financial assistance helps students at private colleges and universities, including Allegheny, and the return on investment in higher education.
For Sanchez, an 18-year-old economics major from Allentown, Pennsylvania, the issue is a personal one. (more…)