College of Arts & Sciences
College of Arts & Sciences 2007-2008 Catalog
BUSINESS and ECONOMICS
The purpose of the Department of Business and Economics is to engage students, staff, and faculty in the learning, teaching, and application of business and economic knowledge to increase the well-being of humankind. This is achieved by serving, being creatively involved with God and His creation, and pursuing the principles of love and justice in a diverse and complex world. As such, the department offers three majors: (1) business, which builds on a core of courses and is completed with an emphasis in marketing, international business, human resources management, finance, or accounting; (2) economics and finance; and (3) economics. In addition to the prescribed course work, students are required to complete an internship in their area of interest. The minor in business or economics also complements majors chosen from other departments.
Studies prepare students for careers in business, government, and the not-for-profit sectors of the economy, as well as for graduate work in business, economics, public policy, and law.
Business Courses
BUS100M • Business Calculus (spring) 3 credits
A non-trigonometric-based introduction to the concepts of the derivative and the integral with a focus on applications in business and economics. Prerequisite: At least two years of high school algebra.
BUS105 • Information Technology and Applications (fall, spring) 3 credits
A basic understanding of computer technology, information technology, and business applications software. Students gain a working knowledge of computerized spreadsheets, databases, presentation software, and webpage design.
BUS110 • Personal Finance (offered occasionally) 3 credits
Management and planning of personal and family finances. Emphasis given to budgeting, investments, individual income tax, and insurance.
BUS130 • Business Problem Solving (fall, spring) 3 credits
A foundation for understanding and solving business and economic problems. An introduction to business and economic concepts, terminology, and problems along with the mathematical skills needed to solve problems. Emphasis on understanding problems, solutions, and decision making, as well as beginning the development of critical-thinking skills needed for success in business and economics.
BUS200 • Personal Taxation Assistance (interim) 3 credits
A practical study of taxation through the eyes of the poor, elderly, and recent immigrants. Students gain an understanding of an urban community and barriers that keep residents from filing tax returns. Tax return preparation for the poor, elderly, and recent immigrants is studied. Prerequisite: BUS210.
BUS202Z • Introduction to International Business (interim) 3 credits
An introduction to international business involving off-campus study to expose students to critical concepts and the day-to-day practice of global business. Students interact with a culture through a series of activities. The countries under study vary from year to year.
BUS208 • Writing for Business and Industry (fall, spring) 4 credits
Preparing memos, business letters, reports, graphs, tables, resumes, and other media for presenting specialized information, including a long, business-oriented project. Emphasis on developing an easily readable, exact, and factual style. Includes writing and observing exercises, presentations, and grammar review where needed. Prerequisite: GES110 or GES245.
BUS210 • Financial Accounting (fall, spring) 4 credits
Basic financial accounting concepts and their application to the recording and reporting of business events. Prerequisite: BUS100M or BUS130 or MAT124M.
BUS220 • Principles of Marketing (fall, spring) 4 credits
Role of marketing in society and the economy. The business firm as a marketing system. Management of the firm’s marketing effort. Prerequisites: BUS100M or BUS130 or MAT124M; ECO201.
BUS230 • Principles of Management (fall, spring) 4 credits
Fundamentals of managerial activities: planning, organizing, leading, and controlling organizational activity. Prerequisite: BUS100M or BUS130 or MAT124M.
BUS231 • Human Resources Management (fall) 3 credits
Role of human resource management within organizations. Overview of human resource planning, job analysis, staffing and selection training, development, compensation and benefits, and employee relations. Understanding how employment and discrimination law impacts the workplace. Prerequisite: BUS230.
BUS233 • Principles of Project Management (interim, offered occasionally) 3 credits
Explanation of the theory and practice of effective project management, including project planning, risk analysis, execution/implementation, and control. Explores project management styles, critical success factors, organizational support systems that enhance projects, project authority and politics, and ethics in project execution. Uses project management software to develop and track project plans for class case studies and project simulations. Prerequisite: BUS105 or consent of instructor.
BUS300 • Topics in Business and Administration (offered occasionally) 3 credits
Special topics in business, particularly as they relate to current issues and contemporary developments. Specific topics and prerequisites announced in advance of registration. Prerequisite: Related courses as specified.
BUS306 • Public Administration (spring) 3 credits
How public policy is put into effect through the administrative agencies of government, the management problems of such agencies, and their relations with the public. Prerequisite: POS100 American Politics and Government recommended. (Carries cross-credit in political science.)
BUS307 • Psychology of Investing (interim, offered occasionally) 3 credits
The study of the psychology of investing utilizing behavioral finance theory: the concepts surrounding socially responsible investing. One week of the course provides a hands-on learning experience at a Twin Cities investment banking firm developing and applying investment analysis skills. Prerequisite: BUS390 or consent of instructor.
BUS310 • Intermediate Accounting I (fall) 4 credits
Theories of accounting, accounting practice related to current asset measurement, and reporting. Analysis and evaluation of the measurement and reporting on noncurrent assets and current liabilities. Prerequisite: BUS210.
BUS311 • Intermediate Accounting II (spring) 4 credits
Current and alternative accounting theories relating to long-term liabilities, stockholders’ equity, special income determination problems, and other accounting topics of current interest. Prerequisite: BUS310.
BUS312 • Federal Income Taxes (spring) 3 credits
Current federal income tax law as it pertains to individuals, corporations, and partnerships. Includes the concept of taxable income and covers tax planning and tax determination within the provisions of the law. Prerequisite: BUS210. BUS200 recommended.
BUS313 • Strategic Managerial Accounting (occasionally fall, spring) 3 credits
Compilation and utilization of internal accounting information for managerial decision making. Prerequisite: BUS210.
BUS318G • Global Marketing (fall, spring) 3 credits
Study of marketing concepts and decision-making processes relative to individuals and firms engaged in the global marketplace. An examination of key strategies of global marketing and mission-critical variables including cultural distinctives, role of language and values, politics and laws, pricing norms, product values, and promotional environment. Prerequisites: GES130 or GES145, 146; Contemporary Western Life and Thought (L) course or GES245; World Cultures (U) course; BUS220. One business course recommended.
BUS319 • Advertising and Sales Promotion (fall, spring) 3 credits
Principles and techniques of advertising, sales promotion, and public relations. Considers customer motivation, ad copy, physical layout of ads and promotional pieces, media selection, advertising budgets, and coordination of advertising and sales promotion campaigns. Prerequisite: BUS220.
BUS321 • Marketing Research (fall, occasionally spring) 3 credits
Marketing research methods, including design, sampling, data collection, and report writing. A research design project is an integral part of the course. Prerequisites: BUS220; MAT131M Statistical Analysis.
BUS324 • Consumer Behavior (fall, spring) 3 credits
A systematic examination of the behavioral, economic, cultural, and systemic factors that influence the behavior of the consumer. Students read relevant research in consumer behavior and design and complete a series of projects exploring the major course topics. Prerequisites: BUS220; MAT131.
BUS330 • Compensation Theory and Practice (fall) 3 credits
Compensation and reward practices in organizations’ wage and salary administration. Theories of design and implementation of pay programs using job evaluation, salary surveys, job and skill-based pay, incentive pay, and other compensation systems. Prerequisite: BUS231.
BUS331 • Staffing, Training, and Development (spring) 3 credits
Theories and strategies for maximizing the potential of an organization's workforce. Explores methods for recruiting and selecting employees, orienting them to an organization, using training to properly equip them for their positions, and facilitating career development. Hands-on approach to designing and analyzing surveys, selection tests, and needs assessments. Prerequisite: BUS231.
BUS332 • Entrepreneurship (spring) 3 credits
Practical problems associated with starting and operating a small business, including feasibility analysis, legal and financial aspects, accounting, marketing, and personnel management. Prerequisites: Three of the following: BUS210, BUS220, BUS230, ECO201, or consent of instructor.
BUS335 • Organizational Behavior (spring) 3 credits
Factors that influence the effectiveness of organizations. Topics include the role of the individual (motivation, personality, learning, work-related attitudes), the group (teamwork, conflict and cooperation, communication), and the organization (organizational design and structure, culture, change processes) in organizational performance. Prerequisite: BUS230.
BUS344 • Managerial Finance (fall, spring) 4 credits
Principles of financial management, including financial analysis, capital structures, working capital management, and investment decisions. Prerequisite: BUS210.
BUS348 • Organizational Communication (fall) 3 credits
Communication practices and problems found in organizations. Communication concerns related to organizational structure, conflict, effectiveness, roles (emphasizing leadership), work processes, and decision making. Interviewing as an organizational practice and as a research tool. Prerequisites: COM110N Basic Communication, COM220 Group Communication. BUS230 recommended. (Carries cross-credit in communication studies.)
BUS361 • Business Law (fall, spring) 3 credits
An introduction to the legal aspects and general structure of business dealings. Topics include an overview of the American legal system, general contract law, pertinent parts of the Uniform Commercial Code, and various forms of business organizations. Some aspects of employment and real estate law are also covered. Prerequisites: BUS230 and one other 200-level business course.
BUS370G • International Business (fall) 3 credits
International business as a bridge between diverse social systems. A panorama of the most important activities in international business and a framework for thinking about them from the perspective of the company manager. Prerequisites: GES130 or GES145, 146; Contemporary Western Life and Thought (L) course or GES245; World Cultures (U) course. One business course recommended.
BUS371G • International Business in Europe (fall) 4 credits
International business as a bridge between diverse social systems. A panorama of the most important activities in international business and a framework for thinking about them from the perspective of the company manager. Prerequisites: GES130 or GES145, 146; Contemporary Western Life and Thought (L) course or GES245; World Cultures (U) course; enrollment in the Europe Term. One business course recommended.
BUS390 • Investments (fall, spring) 4 credits
Characteristics and interrelationships of investments, the operation and regulation of the markets, analysis of risk and return, valuation of speculative assets, portfolio planning, and timing and trading strategies. Prerequisite: BUS344.
BUS410 • Advanced Accounting (fall) 3 credits
Principles and problems relating to partnerships, international accounting, consolidated financial statements, corporate mergers, and governmental accounting. Prerequisite: BUS311.
BUS414 • Auditing Principles and Procedures (fall) 4 credits
Auditing objectives, standards, and procedures employed in the examination of business enterprises and verification of their financial statements. Includes an evaluation of internal control, preparation of work papers, report writing, professional ethics, and current trends. Prerequisites: BUS311 and senior standing.
BUS420 • Marketing Management (fall, spring) 3 credits
Determination of marketing policy; marketing administration and application of principles pertaining to management of marketing resources. A comprehensive marketing project is an integral part of the course. Prerequisites: Two of the following: BUS318, BUS319, BUS321, or BUS324.
BUS435 • Strategic Management (fall) 3 credits
Strategy and policy formulation and implementation from the general manager’s perspective. Includes written and oral analyses of comprehensive cases involving multifunctional applications. Prerequisite: Completion of all required business courses.
BUS440 • Capital Markets (fall, spring) 3 credits
Comprehensive overview of the capital markets with an emphasis on major financial institutions and international financial centers. Evaluation of managing risk within the context of the capital markets in both a domestic and a global economy. Prerequisite: BUS390 or consent of instructor.
BUS450 • Advanced Topics in Organizational Communication (interim, offered occasionally) 3-4 credits
Advanced studies in organizational communication, with the specific topic announced prior to registration. Possible topics may include public relations, corporate communication, consulting, training and development, or media relations. Emphasis will be given to exploring current issues from both a theoretical and hands-on perspective. This course may be repeated if a different topic is emphasized. Prerequisite: COM348 or consent of instructor. (Carries cross-credit in communication studies.)
BUS470 • Finance Seminar (fall, spring) 3 credits
Capstone course in the finance emphasis. Systematic examination of financial, economic, cultural, ethical, and systemic factors that influence financial decision making. Through a case study approach, students integrate the theories and practices learned in other finance courses. Use of Excel to complete detailed analysis. Prerequisites: BUS344; BUS390; BUS440; senior standing.
BUS481 • Internship in Business (fall, spring, summer) 3-4 credits
A learning/practicing experience to apply understanding and skills in an off-campus professional setting. Prerequisites: Major or minor within the business and economics department; consent of department.
BUS493 • Human Resources Management Seminar (spring) 3 credits
Capstone course in human resources management emphasis. Integration of theories and practices learned in other courses through casework and practical exercises focused on equipping students to enter the HR labor market. Examines ethical questions that influence HR decision making. Prerequisite: Senior standing in the HR emphasis.
Economics Courses
ECO200 • Economics of Public Policy Analysis (spring) 3 credits
Economic analysis of government programs, focusing on programs that provide essential services or financial assistance to the needy. Emphasis on careful definition of goals, measuring success, and evaluation of alternatives. Note: Students may not receive credit for both ECO200 and ECO201.
ECO201 • Basic Economics (fall, spring) 4 credits
Economic reasoning and concepts. Includes an examination of the role of a price system in allocating resources and income, government policies for dealing with unemployment and inflation, and moral questions raised by the free enterprise system. Note: Students may not receive credit for both ECO200 and ECO201. Prerequisite for business majors: BUS100M or BUS130.
ECO225L • The Redevelopment of Central City Neighborhoods (spring) 3 credits
The holistic redevelopment of low-income communities using models and ideas from various disciplines: community development, urban planning, economics, federal and state government, and for-profit businesses. Prerequisites: GES130 or GES145, GES146.
ECO301 • Intermediate Microeconomics (fall, spring) 3 credits
Models of consumption, production, and pricing in competitive and noncompetitive markets. Prerequisites: ECO201 and either BUS130 or a college-level calculus course.
ECO302 • Intermediate Macroeconomics (fall, spring) 3 credits
Models of real output and monetary behavior. Policies affecting unemployment, inflation, and economic growth. Prerequisites: ECO201 and either BUS130 or a college-level calculus course.
ECO305 • International Trade and Finance (fall) 3 credits
Evaluation of alternative trade policies (free trade, tariffs, and nontariff barriers) and the international financial system (foreign exchange rates and balance of payments). Prerequisite: ECO201.
ECO310 • History of Economic Thought (offered occasionally) 3 credits
Economic thinking from Smith to Keynes. Emphasis on both history and philosophy of the evolution of economic thought. Prerequisite: ECO201.
ECO320G • Economic Development of Less-Developed Countries (spring, even # yrs) 3 credits
Evaluation of economic policies to promote economic development in low- and middle-income countries. Emphasis on the potential for growth that is both fair and sustainable. Prerequisites: GES130 or GES145, GES146; Contemporary Western Life and Thought (L) course or GES245; World Cultures (U) course.
ECO340 • Econometrics (spring) 4 credits
Computer-aided estimation of business and economic relationships. Understanding correct use of multiple regression analysis in testing hypotheses using time-series and cross-sectional data. Prerequisites: ECO301; ECO302; MAT131M; and a college-level calculus course.
ECO401 • Advanced Economic Theory (fall) 3 credits
Mathematical treatment of economic theory, emphasizing calculus. Prerequisites: ECO301; ECO302; college-level course in calculus; senior standing or consent of instructor.
ECO499 • Senior Seminar (fall) 3 credits
The integration of Christian faith with the theory and practice of business and economics. Prerequisites: Senior standing; economics major or minor, or economics and finance major.
Education Courses (see Department of Education)
EDU416 • Methods in Teaching 5-12 Business
In this section, semester credit hours will be shown after the course number and description proceeded by a comma.
Major in Business (B.A.)
Core Courses a
Choose one from: 3
BUS100M* b Business Calculus
BUS130 Business Problem Solving
BUS105c Information Technology and Applications, 3
BUS210 Financial Accounting, 4
BUS220 Principles of Marketing, 4
BUS230 Principles of Management, 4
BUS344 Managerial Finance, 4
BUS481d Internship in Business or Internship in Business: Accounting, 3-4
ECO201 Basic Economics, 4
MAT131M* Statistical Analysis, 3
Choose one of the following emphases: 24-30
• Accounting Emphasis (30 credits):
BUS310 Intermediate Accounting I
BUS311 Intermediate Accounting II
BUS312 Federal Income Taxes
BUS313 Strategic Managerial Accounting
BUS361 Business Law
BUS410 Advanced Accounting
BUS414 Auditing Principles and Procedures
Economics elective, including ECO301 and above
• Finance Emphasis (25-26 credits):
Choose from:
BUS310 Intermediate Accounting I
BUS313 Strategic Managerial Accounting
BUS390 Investments
BUS440 Capital Markets
BUS470 Finance Seminar
ECO302 Intermediate Macroeconomics
Electives from business and/or economics courses (minimum 9 credits; maximum 3 credits at the 100 level) e
• Human Resources Management Emphasis (27 credits):
BUS231 Human Resources Management
BUS330 Compensation Theory and Practice
BUS331 Staffing, Training, and Development
BUS335 Organizational Behavior
BUS435 Strategic Management
BUS493 Human Resources Management Seminar
Choose from:
ECO301 Intermediate Microeconomics
ECO302 Intermediate Macroeconomics
Electives from business and/or economics courses (minimum 6 credits; maximum 3 credits at the 100 level) c
• International Emphasis (24-25 credits):
BUS202Z* f Introduction to International Business (or other approved international experience)
BUS318G Global Marketing
Choose from:
BUS370G* International Business
BUS371G* International Business in Europe
ECO302 Intermediate Macroeconomics
ECO305 International Trade and Finance
MWL* Two modern world language courses, one of which must be at the Intermediate I level or higher.
Electives from business and/or economic courses (minimum 3 credits)
• Marketing Emphasis (27-28 credits):
BUS420 Marketing Management
ECO301 Intermediate Microeconomics
Choose three from:
BUS318G Global Marketing
BUS319 Advertising and Sales Promotion
BUS321 Marketing Research
BUS324 Consumer Behavior
Choose two from:
Economics elective, including ECO302 and above
BUS208 Writing for Business and Industry
BUS361 Business Law
Electives from business and/or economics courses (minimum 6 credits; maximum 3 credits at the 100 level) c
56-63
General Education, 51-52
Electives, 7-15
TOTAL 122
* A student may also choose to use this course to meet a General Education requirement.
a Students majoring in business must complete their core courses with a minimum grade of C in order to successfully complete the business major.
b Students considering graduate school in business are strongly encouraged to take BUS100M Business Calculus. (MAT124M Calculus I may be used as a substitute.)
c Not required of students who minor in management information systems in the Department of Math and Computer Science.
d Students in the Accounting Emphasis must take Internship in Business: Accounting
e COS105, COS212, COS216, COS218, COS313, COS377 may be used as business and/or economics electives.
f BUS202Z may be waived by petition upon the completion of an international study experience with prior approval of the department.
Major in Business Education 5-12 (B.A.)a
BUS105 Information Technology and Applications, 3
BUS110 Personal Finance, 3
BUS130 Business Problem Solving, 3
BUS210 Financial Accounting, 4
BUS220 Principles of Marketing, 4
BUS230 Principles of Management, 4
BUS332 Entrepreneurship, 3
BUS344 Managerial Finance, 4
BUS361 Business Law, 3
BUS370G* International Business, 3
BUS481 Internship in Business, 3-4
COS100 Introduction to Programming, 3
ECO201 Basic Economics, 4
One elective, a minimum of 3 credits from Business/Economics or Computer Science, 3
EDU200/201 Intro. to Education/Intro. to Education Field Experience, 4
EDU203 School Health and Drugs, 2
EDU220 Introduction to Middle Level Education, 3
EDU317GZ* Issues in Education: A System Analysis, 3
EDU240 Educational Psychology, 3
EDU241 Educational Psychology Field Experience, 1
EDU320 Pedagogy and the Young Adolescent Learner, 2
EDU415 Middle Level Education Practicum in Business, 1
EDU416 Methods in Teaching 5-12 Business, 4
EDU490 Student Teaching Block, 15
85-86
General Education, 51-52
TOTAL 136-138**
* A student may also choose to use this course to meet a General Education requirement.
** Because of possible double-counting between General Education and the major, the actual total can be reduced to 124-125 credits.
a Pending approval by the Minnesota Board of Teaching
Major in Economics and Finance (B.A.)
BUS105 Information Technology and Applications, 3
BUS210 Financial Accounting, 4
BUS220 Principles of Marketing, 4
BUS230 Principles of Management, 4
BUS344 Managerial Finance, 4
BUS390 Investments, 4
BUS440 Capital Markets, 3
BUS481 Internship in Business, 3-4
ECO201 Basic Economics, 4
ECO301 Intermediate Microeconomics, 3
ECO302 Intermediate Macroeconomics, 3
ECO340 Econometrics, 4
ECO401 Advanced Economic Theory, 3
ECO499 Senior Seminar, 3
Choose from: 3-4
BUS100M* Business Calculus
MAT124M* Calculus 1
MAT131M* Statistical Analysis, 3
Electives from business and/or economics courses, excluding ECO200 (maximum of 3 credits at the 100 level), 6
61-63
General Education, 51-52
Electives, 7-10
TOTAL 122
* A student may also choose to use this course to meet a General Education requirement.
Major in Economics (B.A.)
ECO201 Basic Economics, 4
ECO301 Intermediate Microeconomics, 3
ECO302 Intermediate Macroeconomics, 3
ECO401 Advanced Economic Theory, 3
ECO499 Senior Seminar, 3
BUS481 Internship in Business, 3-4
Electives from 200-level or above economics courses, excluding ECO200, 13
MAT124M* Calculus 1 4 MAT131M* Statistical Analysis, 3
39-40
General Education, 51-52
Electives, 30-32
TOTAL 122
* A student may also choose to use this course to meet a General Education requirement.
Students considering graduate studies in economics should elect MAT125M Calculus 2 and MAT211 Linear Algebra and give consideration to earning a mathematics minor.
Major in Business and Political Science (B.A.)
(See Multidisciplinary section.)
This major is designed for students who wish to combine substantial work in the fields of business and political science with additional supporting courses in economics and mathematics.
Minor in Business
Choose from: 3
BUS100M*a Business Calculus
BUS130 Business Problem Solving
BUS210 Financial Accounting, 4
BUS220 Principles of Marketing, 4
BUS230 Principles of Management, 4
BUS344 Managerial Finance, 4
ECO201 Basic Economics, 4
TOTAL 23
a MAT124M Calculus I may be used as a substitute.
* A student may also choose to use this course to meet a General Education requirement.
Minor in Entrepreneurship**
Choose from: 3
BUS100M*a Business Calculus
BUS130 Business Problem Solving
BUS210 Financial Accounting, 4
BUS220 Principles of Marketing, 4
BUS230 Principles of Management, 4
BUS332 Entrepreneurship, 3
ECO201 Basic Economics, 4
TOTAL 22
a MAT124M* Calculus I may be used as a substitute.
* A student may also choose to use this course to meet a General Education requirement.
** Not available to business majors.
Minor in Economics
ECO201 Basic Economics, 4
Choose from: 3
ECO301 Intermediate Microeconomics
ECO302 Intermediate Macroeconomics
Electives from 200-level or above economics courses, excluding ECO200, 12
TOTAL 19
Management Information Systems (MIS)
Students interested in programming business applications are advised to major in computer science with a minor in business. Students interested in combining MIS and business should major in business and minor in MIS.