Business Administration Requirements

The major in business administration is designed to develop in its students a high degree of competence in the application of business theories and sound judgment to the solution of business operating problems. Graduates are able to contribute effectively to the activities of their organizations by applying business skills required to plan, analyze, and control company activities. Beyond enhancing the value of a firm, the graduate should have a firm knowledge from which to achieve professional growth in the workplace and/or graduate school. Students are also provided the opportunity to specialize in a particular area through selection of elective courses.

Business Administration Major

  1. BUS-205 Principles of Accounting I
  2. BUS-215 Principles of Accounting II
  3. ECO-205 Principles of Macroeconomics
  4. ECO-215 Principles of Microeconomics
  5. BUS-240 Statistical Analysis
  6. BUS-315 Business Law I
  7. One of the following Management courses:
    BUS-245 Human Resource Management
    BUS-275 Principles of Management
    BUS-387 Advanced Topics in Human Resource Management
    BUS-535 Strategic Management
  8. One of the following Marketing courses:
    BUS-355 Marketing
    BUS-460 Advertising
    BUS-465, -466 Advanced Topics in Marketing
    BUS-467 Consumer Behavior
  9. One of the following Finance courses:
    BUS-350 Principles of Finance
    BUS-495 Investment Analysis
    BUS-525 Intermediate Financial Management
    ECO-305 Money and Banking
    ECO-495 International Finance
  10. Two additional business courses numbered 200 or above

Students planning to attend graduate school in business are strongly encouraged to take calculus, additional statistics courses, intermediate level macro/microeconomics, quantitative management courses, and strategic management. Students should also discuss their graduate school plans with a member of the department to determine other courses that may be expected for admission to specific graduate programs.


Courses

BUS-105 Colloquium in Business
A study of the dynamic world of business, with emphasis on the role of the individual as a consumer, a manager, an employee, and an investor. Such topics as the social responsibility of business, business environment, and the relationship of business to governments and to people are included.

BUS-125 Computers in Business
An introduction to computers in business. Topics covered include the most commonly encountered software used for word processing, database management, and spreadsheets.

BUS-137 Environmental Law: The Wilderness Act and the Battle Over the Boundary Waters
An introduction to environmental law and the effort to control the effects of human activity on land and water. After an overview of basic environmental law covering property rights and wilderness protection, the class applies the same to the Boundary Waters Canoe Area Wilderness (BWCAW), local communities, recreation, and use of the area. Significant time is spent on the legislative efforts to establish the BWCAW and subsequent judicial interpretation of those laws. Multiple trips to areas of different preservation status are taken to help evaluate the practical effects of the disparate levels of protection. (Offered summers at the Wilderness Field Station)

BUS-205 Principles of Accounting I
A study of the accounting process and preparation of financial statements, primarily for external reporting purposes. Includes analyses of asset and liability accounts and owners‘ equity accounts of sole proprietorships and partnerships.

BUS-215 Principles of Accounting II
Continuation of the study of financial accounting, including corporate owners‘ equity accounting and statements of cash flow. An introduction to managerial accounting and the analysis of financial information for management decision making. Prerequisite: Principles of Accounting I (BUS-205).

BUS-235 Computer Applications – Accounting
An introduction to specialized accounting software used in financial accounting, tax accounting, and auditing. Application of generalized software to topics covered in managerial accounting and financial accounting. S/U basis only. Prerequisites: Computers in Business (BUS-125), senior standing, and completion of at least three upper-level accounting courses or consent of instructor. (0.5 course credit)

BUS-240 Statistical Analysis
Methods of statistical analysis and decision-making in business research and the behavioral sciences. Topics are selected from analysis of variance, regression analysis, factor analysis, time series analysis, and statistical decision theory. Prerequisite: The equivalent of three years of secondary school mathematics or consent of instructor.

BUS-245 Human Resource Management
A study of the theories, policies, and institutional forces that affect the human resource manager. This course analyzes managerial decisions regarding staffing, compensation, training, appraising, safety/ health, industrial relations, and the employment laws and environmental factors affecting human resource management. Prerequisite: sophomore standing.

BUS-255 Introduction to Management Science
The construction and use of mathematical models for making business decisions. Models studied include linear programming and related algorithms, project scheduling, waiting lines. Prerequisites: competency in algebra and junior standing or consent of instructor.

BUS-265 Production and Operations Management
A study of the design, planning, and control of the factors that affect operations, including how to use labor, facilities, and equipment to manufacture finished goods or provide services. Prerequisites: competency in algebra and junior standing or consent of instructor.

BUS-275 Principles of Management
A study of the general principles of management that are applicable to any organization with an established set of goals and objectives. This course analyzes the four major managerial functions of planning, organizing, leading, and controlling, and introduces the topics of international management and managerial ethics. Prerequisite: sophomore standing.

BUS-285 Computer Applications – Advanced Topics
Advanced computer applications courses on selected topics covered in business. Example topics: Management Science, Database Management, Marketing Publications. S/U basis only. May be repeated for credit, provided the topics are substantially different. Prerequisites: Computers in Business (BUS-215) and completion of or concurrent registration in relevant courses in the department, or consent of instructor. (0.5 course credit)

ECO-305 Money and Banking
See Economics

BUS-315 Business Law I
Introduction to law as an agency of control in the business world. Special attention to contracts, agencies, sales, negotiable instruments, and other types of contracts commonly used in the business world. Prerequisite: sophomore standing.

ECO-317 Labor Economics
See Economics

ECO-325 Collective Bargaining
See Economics

BUS-325 Business Law II
An extended study of traditional business law subjects, with the addition of Federal Securities Regulation, secured transactions, suretyship, and accountant‘s legal responsibility. Special attention is also given to agency, bankruptcy, and estates and trusts. Prerequisite: Business Law I (BUS-315).

BUS-340 Applied Regression Analysis
Introduction to the construction and use of regression models. Topics include estimation and inferential techniques in Simple and Multiple Regression; consequences of violations of the assumptions of the Classical Linear Regression model; regression with qualitative dependent variables. Prerequisite: Statistical Analysis (BUS- 240) or consent of instructor.

BUS-345 Regulation of Business
Includes an examination of the social and economic impact of control legislation such as the Sherman Act, Clayton Act, Federal Trade Commission Act, Wagner Act, Securities Exchange Act, and many others. Prerequisites: Principles of Macroeconomics (ECO-205) and Principles of Microeconomics (ECO-215).

BUS-350 Principles of Finance
A survey of securities markets and financial institutions and an introduction to finance and development in finance theory. Practices of personal and business finance decisions are also included. Prerequisites: Principles of Macroeconomics (ECO-205), Principles of Microeconomics (ECO-215), and Principles of Accounting II (BUS- 215).

BUS-355 Marketing
A study of the basic principles of marketing including the analysis of market opportunities, market segmentation, and product positioning. Emphasis is placed on consumer markets and the development of marketing strategy using the variables of product, price, promotion, and distribution. Prerequisite: sophomore standing.

ECO-355 Industrial Organization
See Economics

BUS-365 Principles of Insurance
Insurance as a method of dealing with business and personal hazards. Types of insurance in the life, fire, and casualty fields. Social Security measures and personal insurance programs. Social and economic significance of the insurance industry. Prerequisite: junior standing.

BUS-375 Business Ethics
A study of some of the central ethical issues in the business world and some of the various ethical theories that might be employed in thinking about solutions to these problems. Topics likely to be covered include affirmative action, sexual harassment, whistleblowing, product safety standards, labor relations, advertising, and environmental issues. Prerequisite: sophomore standing or consent of instructor.

BUS-387 Advanced Topics in Human Resource Management
Expands on some of the traditional material presented in the Human Resource Management course. Contemporary issues in the workplace which affect the nature of the relationship between the organization and the employee are discussed. Prerequisite: Human Resource Management (BUS-245).

BUS-395 Organizational Behavior
Combines theory and practice to investigate human behavior in organizations. Topics at the macrolevel (history, culture, design, communications, total quality), human-level (perception, personality, attitudes, learning, stress), and group-level (team and organization development), and their influences on organizational effectiveness are examined. Prerequisite: Principles of Management (BUS-275).

BUS-405, -415 Intermediate Accounting
An in-depth study of financial accounting topics. Emphasis is on income determination, evaluation, and presentation of assets, liabilities, and owners‘ equity. Prerequisite: Principles of Accounting II (BUS-215).

ECO-405 Intermediate Macroeconomic Theory
See Economics

ECO-415 Intermediate Price Theory
See Economics

BUS-425 Fraud Examination
An examination of real world cases that represent the many types of accounting fraud in order to gain an understanding of the behavioral and social factors that motivate offenders. Emphasis is placed on understanding the exposures to loss and the appropriate prevention, detection, and investigation approaches, including legal requirements for testifying as an expert witness. Prerequisites: Principles of Accounting II (BUS-215) or consent of instructor. (Offered on an occasional basis)

BUS-435 Managerial Accounting
A study of the principles of managerial accounting and the methods of analyzing financial information. Includes analyses of accounting for the costs of production and the use of various decision models for planning and control. Prerequisite: Principles of Accounting II (BUS-215).

BUS-437 Strategic Compensation
A study of compensation systems used in organizations. This course looks at ways to develop, administer, and maintain compensation plans that attract and motivate employees while controlling labor costs. It covers such topics as the strategic importance of compensation; different types of compensation; designing competitive pay systems and employee benefits; and compensation for executives, expatriates, and contingent employees. Prerequisite: Human Resource Management (BUS-245).

BUS-445 Tax Accounting
A study of the federal income tax system with an emphasis on individual taxation. Development of a basic understanding of gross income, exclusions from gross income, and deductions which pertain to individuals, corporations, and partnerships. Prerequisite: Principles of Accounting II (BUS-215).

BUS-446 International Business Management
An introduction to the concepts of international business and the global economy. Topics include the impact of national and cultural differences on global business; cross-cultural communication, negotiation, and decision making; international human resource management; international trade theory; cross-border trade and investment; and global business strategy development. Prerequisite: Human Resource Management (BUS-245) or Principles of Management (BUS-275).

ECO-446 International Economics
See Economics

BUS-455 Advanced Tax Accounting
A continuation of Tax Accounting (BUS-445) with an emphasis on taxation of corporations, ―S‖ corporations, partnerships, estates, and trusts. Development of a basic understanding of tax research methodology. Prerequisite: Tax Accounting (BUS-445).

BUS-457 Employment and Discrimination Law
Examines the legal regulation of the employment relationship. Extensive coverage of federal workplace discrimination statutes is featured, with particular consideration of Title VII, the ADEA, and the ADA. Significant attention placed on recent Supreme Court decisions and Congressional responses. Additional issues addressed may include employment-at-will and its exceptions, vicarious liability of employers for employee tort, and employee privacy concerns. Prerequisites: Human Resource Management (BUS-245) and Business Law I (BUS- 315).

BUS-460 Advertising
A study of the basic practices and concepts of advertising. Advertising is studied in the broader context of integrated marketing communications, including public relations and sales promotion. Topics to be covered include historical, legal, and ethical concepts of advertising and other forms of promotion, the management and planning of advertising, creativity in advertising, media planning, and advertising research. Prerequisite: Marketing (BUS-355).

BUS-461 Marketing Management
A continuation of the study of marketing principles with special emphasis on understanding marketing as the basis for management decision-making. Topics to be covered include customer relationship management, market- oriented strategic planning, brand asset management, buyer behavior analysis, the use of marketing research to identify and target customers, and integrated marketing communications planning. Prerequisites: Marketing (BUS-355).

BUS-465 Advanced Topics in Marketing
An advanced study of a major topic in marketing. May be repeated for credit, provided the topics are substantially different. Example topics: marketing research, international marketing, and sales management. Prerequisite: Marketing (BUS-355).

ECO-465 Public Finance
See Economics

BUS-466 Advanced Topics in Marketing: Non-Western Perspectives
Same as Advanced Topics in Marketing (BUS-465), except the course focuses on topics related to non-Western cultures.

BUS-467 Consumer Behavior
A study of the behavioral aspects of marketing with an emphasis on consumer markets. Various models of consumer decision-making are examined. Influences on consumer behavior are studied from both an individual perspective, including topics such as personality, perception, learning and attitudes, and a social perspective, including topics such as culture, social class, reference groups, and family. Prerequisite: Marketing (BUS-355).

BUS-475 Advanced Topics in Management
An advanced study of a major topic in management. Example topics: organizational theory, international management, negotiation, management information systems, and organizational change. May be repeated for credit, with consent of department chair, provided the topics are substantially different. Prerequisite: Principles of Management (BUS-275).

BUS-476 Advanced Topics in Management: Non-Western Perspectives
Same as Advanced Topics in Management (BUS-475), except the course focuses on topics related to non-Western cultures.

BUS-495 Investment Analysis
A study of the fundamental principles underlying investment decisions. The course offers a basic understanding of the nature of risk and return considerations, the valuation framework for financial assets and derivatives, and introduction to the concepts of modern portfolio theory. Prerequisite: Principles of Finance (BUS-350).

ECO-495 International Finance
See Economics

BUS-505 Auditing
A study of the audit function primarily as it relates to the independent CPA. An integration of auditing theory and practice in an environment of legal liability and professional responsibility. Prerequisites: Principles of Accounting II (BUS-215) and junior standing, or consent of instructor.

BUS-515 Advanced Accounting
A study of business combinations, international business transactions, international subsidiaries, fund accounting, and accounting for partnerships. Prerequisite: Intermediate Accounting (BUS-405, -415).

BUS-525 Intermediate Financial Management
A study of the major theories and models for planning and analyzing the working capital position, the financial structure, the cost of capital, and the capital budgeting of a business firm. Prerequisite: Principles of Finance (BUS-350).

ECO-525 Econometrics
See Economics

BUS-535 Strategic Management
A study of strategic management principles and the application of these principles to problems encountered by managers at all levels in large and small, for-profit and not-for-profit organizations. An advanced course in case studies to be taken near completion of the major. Prerequisite: junior standing.

BUS-545 Advanced Auditing
A continuation of Auditing (BUS-505) with emphasis on special reports, compilation and review services, and additional current auditing topics. Auditing theories and practices are presented in a manner which enables the student to conceptualize the entire audit process. Prerequisite: Auditing (BUS-505).

ECO-545 Mathematical Economics
See Economics

BUS-555 Advanced Managerial Accounting
A continuation of the study of managerial accounting and the methods of analyzing financial information. Topics covered include management control systems, pricing decisions, operations management, and regression analysis. Prerequisite: Managerial Accounting (BUS-435) or consent of instructor.

BUS-595 Advanced Topics in Finance
An advanced study of a major topic in finance. Example topics include quantitative methods in finance, behavioral finance, the evolution of financial thought, alternative investments, fixed income management, portfolio management, and derivatives. May be repeated for credit, with consent of department chair, provided the topics are substantially different. Prerequisite: Principles of Finance (BUS-350).

BUS-605 Entrepreneurship and New Business Formation
Analysis of the role of the entrepreneur in the capitalist economy. Development of the procedural system for establishing a new business. Establishment and operation of a ―small business‖ by teams of students, including presentation of a business plan in order to secure financing with a local financial institution, acquisition of tax information necessary for start-up and continued operations, and analysis of problems confronting the new or small enterprise. Prerequisite: senior standing or consent of instructor.

BUS-615 Fund Accounting and Advanced Topics
Fiduciary accounting, accounting for not-for-profit entities, consignment sales, and other advanced accounting topics. Prerequisite: Intermediate Accounting (BUS-405, -415).

BUS-705 Seminar in Management
Development of written and oral communication proficiency through an intensive study of one or more selected topics in management. Topics are studied through the use of readings, class discussions, writings, and presentations, and vary from term to term. May be repeated for credit, provided the topics are substantially different. Prerequisites: senior standing and at least one course in management [Human Resource Management (BUS-245), Principles of Management (BUS-275), or Organizational Behavior (BUS-395)], or consent of instructor.

BUS-805 Research in Business
The student works on a research program in business, independently or in participation with a business department faculty member. With permission of instructor prior to registration, may be taken for an X status grade. Prerequisites: junior standing and consent of instructor.

BUS-815 Independent Study
Independent studies under the direction of a faculty member in some area of business administration or economics. With permission of instructor prior to registration, may be taken for an X status grade. Prerequisite: consent of instructor.

BUS-895 Internship in Business
A work experience with a business organization involving opportunities, experiences, and personal growth which can be evaluated in equivalent terms to traditional course work. In most circumstances such experience shall count for one course credit. On-site work plus academic work must total a minimum of 160 hours (140 of which must be spent on-site.) In exceptional situations where an internship presents significant theoretical or practical ways to augment or extend traditional classroom experiences, two course credits are available. (See p. 196) This course does not satisfy any of the requirements for a major in business administration. Prerequisites: Candidates must meet GPA and departmental residency requirements. All candidates must have the consent of a supervising faculty member of the department and consent of department chair. Students seeking more than one course credit must further have approval of the Department Internship Review Committee.