With a new name, a new discipline and a refreshed look, the Madden College of Business and Economics is poised for future growth and accomplishments that have marked its trajectory since it became the first named school in Le Moyne’s history 11 years ago.
Adding economics represents a strategic realignment that will allow for more collaboration and exchange between students and faculty in economics, other business fields and the College of Arts and Sciences. While continuing to offer the current B.A. and B.S. degrees in Economics in the College of Arts and Sciences, a new major will also be added - a B.S. in Business Administration: Economics.
The official launch of the Madden College will be marked with a ribbon cutting and program on Wednesday, Oct. 4 at 4 p.m. at Mitchell Hall. The new branding and a redesigned lobby will also be unveiled at the event.
“From both a theoretical and practical standpoint, the move makes sense in a number of ways,” said Michael D. Madden ’71, for whom the college is named. “As an economics major, I have had direct experience in applying economics to solve business problems and identify opportunities within the context of a broader landscape.”
“One thing that has not and will not change is the commitment to educating the whole person through its faculty, curriculum and experiential programming,” said Madden College Dean Jim Joseph ’83 Ed.D. (candidate). “Our graduates are reflective, with an innovative spirit, who go on to become leaders and embrace the Jesuit values of integrity, compassion and service to others.”
Based on state and federal labor statistics, positions for economists will continue to grow by 6 percent through the current decade. Renaming the business school will raise the profile of economics for prospective and current students, alumni and benefactors who support the discipline, and also elevate economics for recruiting faculty. It will also allow Madden students to major in economics or pursue dual majors in economics and finance or other combinations.
“This move will enhance the Madden College’s ability to achieve successful student outcomes while maintaining the strong tradition of economics as both a venerable discipline informed by the social sciences as well as an area of study closely allied with key disciplines and careers in business,” said Wayne Grove, Ph.D., chair of the economics department.
To better support the major, the College recently added two tenure-track faculty members: Assistant Professor Elahe Boskabadi and Assistant Professor Zichu Zhao.
New Business and Economics Chair
In addition to announcing the new name, the Madden College also announced the creation of The Dr. John T. (Jack) Boorman ’63 Endowed Chair in Business & Economics. Boorman spent nearly 30 years in various positions at the International Monetary Fund and also served on Le Moyne’s Board of Trustees for 19 years, where he served as the chair of the Investment Committee for many years. Grove has been named as the inaugural recipient of the Boorman Endowed Chair.
The new academic endowed chair brings to six the total number in the Madden College:
· The McDevitt Distinguished Chair in Information Systems (2009)
· The Daniel F. McNeil III ’77 Endowed Director of the McNeil Academy (2018)
· The Daniel F. McNeil III ’77 Endowed Chair in Risk Management & Insurance (2018)
· The John K. Purcell ’65 Endowed Chair in Finance (2018)
· The John “Jack” Collins ’60 Endowed Chair in Accounting (2020)
· The Dr. John T. (Jack) Boorman ’63 Endowed Chair in Business & Economics (2023)
“Le Moyne is blessed with the ongoing support of our alumni, who give back in so many ways,” said President Linda M. LeMura. “This is a reflection of the life-changing experience they had while on the Heights and their desire to ensure that current and future students will be able to take advantage of similar opportunities.”
Since becoming a named school in 2012 following Madden’s $7.5 million gift, the past 11 years has witnessed significant growth and advancement. In addition to several new undergraduate majors and minors and expanded graduate offerings, other highlights include the establishment of the McNeil Academy of Risk Management and Insurance in 2018, the launching of the Dolphin Green and Gold Fund LLC in 2019, and the founding of four centers of excellence that are an integral part of the school:
· The Keenan Center for Entrepreneurship, Innovation and Creativity (2013)
· The Savage-McGill Center for Reflective Leadership (2015)
· The Hetterich Center for Global Engagement and Societal Impact (2016)
· The Walter & MaryAnne Poland Jesuit Center for Research and Teaching Innovation (2021)