The Department of Economics & Business awards a number of scholarships to students majoring in Accounting, Economics, and Management. The criteria for awarding some department scholarships are provided by the donor. In other cases, department faculty take into account factors such as academic success and financial need to award a scholarship. Scholarship amounts typically range from $500 to several thousand dollars.
The Erdman Prize honors Luther students who create, develop, and manage a successful entrepreneurial enterprise, with the competition open to all full-time Luther students regardless of major.
Esther and Frank Barth Scholarships are awarded to majors in Accounting,
Economics, and Management. First preference is given to a National Merit Scholar.
The Frank Barth Prize in Economics, Accounting, and Management is awarded by department faculty to junior and senior majors from any department major.
The Erik and Marjorie Ellingson Scholarship is awarded in alternating years to a junior or senior department major.
Malcolm and Maybelle Estrem Scholarships are awarded to a junior or senior department major.
The Emery O. Nordness Memorial Award for Business, established by Alan R. and Sally J. Brudos, to be awarded to one outstanding senior majoring in accounting, business, economics, or management. Awarded by faculty based upon academic merit and promise for future within his/her field of study, with preference given to a student who has demonstrated and maintains an active interest, and participation, in the arts.
The department awards multiple Seabold Scholarships to department majors who show evidence of strong intellectual ability and achievement even in the absence of traditional academic experiences or opportunities; clarity, independence and originality of thought; range of intellectual curiosity; independent pursuit of knowledge; demonstrated ability to master concepts in the major field of study and to evaluate the potential practical application of those concepts; persistence and enthusiastic pursuit of higher education despite adverse or intervening circumstances.
Schultz Family Scholarships are awarded to students majoring in Accounting, Management, or Economics.
Bennett and Oneida Talle Awards are given to a junior or senior majoring in Accounting, Management, or Economics.
The Uwe Jens Rudolf Accounting Scholarship is awarded to a student entering their senior year who is an Accounting major and who has completed the Accounting Department core requirements including Intermediate Accounting I and II courses by the end of the junior year. The student must have a minimum GPA of 3.0 in the Accounting major and must have exhibited leadership skills through an Accounting internship or involvement in a Luther community organization such as a service learning project, or participation in or received approval from the department for a faculty/student research project. The department should give consideration to a deserving student with financial need.
The Tom Schmidt Business Management Scholarship is awarded to a Management major who has completed the department prerequisites and twelve credit hours of Management courses by the end of their junior year. The student must have a minimum of 3.0 in the Management major. The student must have a demonstrated record of student scholarship and leadership activities. Consideration is given to a deserving student with financial need.
The Iowa Society of Certified Public Accountants sponsors this award and it goes to the Accounting major with the highest GPA.
This award recognizes the academic achievement of the top twenty percent of the graduating class majoring in the department. The award's symbol is an engraved business Holder. The Henry O. Talle award is in honor of the pioneering work done by Professor Henry O. Talle '17. He was the first chair of the department, serving from 1921-38. Professor Talle also served as a college treasurer from 1932-38. In 1938, Professor Talle resigned when he was elected to the U.S. House of Representatives from this district in Iowa, an office he held for the next twenty years.
The international honor society in Economics. Students must complete 12 hours of Economics courses at Luther College, attain at least a 3.0 average in those courses, have an overall 3.0 average in all classes, and be in the upper 1/3 of their class. Students do not have to be Economics majors, but must have a genuine interest in Economics in addition to meeting the above requirements.