The Department of Economics has a new name. The University of Guelph Senate voted Monday to change the name to the Department of Economics and Finance.

Chair John Livernois says the name change more accurately reflects the teaching and research that are done in the department. It’s also important for the public profile of the College of Management and Economics (CME), he says. CME houses business-related programs, and finance is one of the major fields of study at any business school.

CME dean Julia Christensen Hughes says the name change is in keeping with the college’s strategic directions.