Business
Website: Business
An element of the Wm. Polk Carey Pre-business Program, the minor in business is anchored in the belief that a liberal arts education offers the best foundation for a business career. Such an education provides broad understanding of human behavior and institutions, appreciation of global culture and of peoples around the world, and perspectives for developing personal values and ethical standards. It also encourages the sort of creativity and flexibility of mind that business leadership demands.
Carey Fellows
Students who intend to declare a business minor can apply for the Carey Fellows program in one of two ways: 1) as incoming first-year students, or 2) during the Advent (fall) semester of their sophomore year. The designation of Carey Fellow brings with it both a mark of distinction and additional requirements designed to prepare fellows for leadership positions in business and finance. The business minor and the pre-business program are also supported, with practical benefits as well as intellectually stimulating offerings, by The Babson Center for Global Commerce.
Carey Fellows are required to maintain a 3.33 GPA. In addition to completing course requirements for the minor, Carey Fellows must complete a semester-long internship off campus in their junior year, attend a Sewanee summer school session, complete two proseminar courses in their junior year and senior year and attend a specified number of Babson Center for Global Commerce events.
Internship Requirement
With assistance from the director of the Babson Center for Global Commerce, Fellows must secure and complete a semester-long internship off-campus during their junior year. Each Carey Fellow must register for an eight semester hour internship (BUSI 442) and the first proseminar course (BUSI 352) during the internship term. Carey Fellows will then be considered enrolled as full-time, degree-seeking students during the period of the internship.
Proseminar Course Requirement
During their junior year and senior year, Fellows must complete two proseminar courses (BUSI 352 and BUSI 353) designed to complement their internship experience. Each seminar includes reading on topics such as business history or philosophical perspectives on capitalism.
The proseminars also draw on academic work within the business minor to enhance spreadsheet modeling skills, writing skills, and speaking skills. One full course (four semester hours of credit) will be awarded for completion of each seminar.
The minor in business requires students to take courses in economics, accounting, finance, and business ethics and to elect specified courses from the disciplines of economics, psychology, political science, and computer science. In choosing elective courses, students must select one of three tracks: managerial, international, or finance. The Managerial track is for students who wish to concentrate their electives in courses directly relevant to the management of complex business organizations. The International track is for students who have a particular interest in international business. The Finance track is designed for students wishing to acquire a comprehensive grounding in modern finance. Corporate Finance (ECON 360), Investments (ECON 361), and Financial Derivatives (ECON 362) cover all topics on the Chartered Financial Analysts (C.F.A.) exam and will be of special interest to students contemplating careers in finance or those who plan to take the C.F.A. exam.
Requirements for the Minor in Business
The minor requires successful completion of the following:
| Code | Title | Semester Hours |
|---|---|---|
| Course Requirements | ||
| BUSI 215 | Fundamentals of Financial Accounting | 4 |
| ECON 101 | Introduction to Microeconomics | 4 |
| ECON 360 | Corporate Finance 1 | 4 |
| PHIL 232 | Business Ethics | 4 |
| or PHIL 205 | Freedom, Justice, and Commerce | |
| Select two additional approved electives identified under a common track (below) 2 | 8 | |
| Total Semester Hours | 24 | |
| 1 | ECON 360, which is required of all students, has a prerequisite of statistics (STAT 204) and Introduction to Economics (ECON 101). All business minors should have completed STAT 204 and ECON 101 by the end of their sophomore year. |
| 2 | Business minors who elect the finance track should complete BUSI 215 and ECON 360 by the end of their junior year. |
Managerial Track
| Code | Title | Semester Hours |
|---|---|---|
| BUSI 216 | Fundamentals of Managerial Accounting | 4 |
| BUSI 217 | Introduction to Marketing | 4 |
| BUSI 220 | Legal Parameters and Business Decisions | 4 |
| BUSI 250 | Organizational Management and Theory | 4 |
| BUSI 320 | Tax Theory and the Federal Income Tax | 4 |
| BUSI 400 | Strategic Management | 4 |
| CSCI 284 | Database Design with Web Applications | 4 |
| CSCI 290 | Data Mining | 4 |
| ECON 304 | Labor Economics | 4 |
| ECON 315 | Industrial Organization and Public Policy | 4 |
| ECON 341 | Game Theory | 4 |
| ECON 348 | Social Entrepreneurship | 4 |
| ECON 355 | Managerial Economics | 4 |
| FORS 319 | Natural Resource Management and Decisions | 4 |
| HIST 121 | Consumer Culture and Its Discontents, 17th - 20th Centuries | 4 |
| PSYC 203 | Social Psychology | 4 |
| PSYC 206 | Industrial-Organizational Psychology | 4 |
| PSYC 208 | Cognitive Psychology | 4 |
International Track
| Code | Title | Semester Hours |
|---|---|---|
| BUSI 217 | Introduction to Marketing | 4 |
| BUSI 320 | Tax Theory and the Federal Income Tax | 4 |
| ECON 310 | Economic Development | 4 |
| ECON 343 | International Trade | 4 |
| ECON 344 | International Finance | 4 |
| ECON 345 | Economic Development in China | 4 |
| POLS 366 | International Political Economy | 4 |
| POLS 402 | Topics in Political Economy | 4 |
Finance Track
| Code | Title | Semester Hours |
|---|---|---|
| ECON 361 | Investments | 4 |
| ECON 362 | Financial Derivatives | 4 |
Business Courses
BUSI 215 Fundamentals of Financial Accounting (4)
The instructional objective is to provide students with an understanding of the concepts that are fundamental to the use of accounting. A decision-making approach is employed which involves critical evaluation and analysis of information presented. Important analytical tools are integrated throughout the course.
BUSI 216 Fundamentals of Managerial Accounting (4)
The course focuses on the internal use of accounting information in the formulation of management decisions. Students learn how financial systems can add value to a company. Different costing systems, budgetary planning, and incremental analysis are among the course contents. A field trip is included. Prerequisite: BUSI 215.
BUSI 217 Introduction to Marketing (4)
This course introduces students to the business of marketing both conceptually and as a profession. Study and activities include understanding the strategic marketing process, planning and research, launching new products, distribution, promotion and pricing. While studying and examining contemporary online and offline marketing methods, we will also analyze landmark marketing case studies to understand how key decisions impact outcomes and influence consumer purchasing behavior. Prerequisite: BUSI 215 or ECON 360.
BUSI 220 Legal Parameters and Business Decisions (4)
This course examines legal principles, considerations, and structures affecting managerial decisions. The course initially focuses on the anthropological underpinnings of the legal concepts of “liability”, “limited liability”, and “corporate” form with readings coming from Yuval Harari’s Sapiens: A Brief History of Humankind. With that background in place, the course then examines legal parameters and constraints through corporate, tax, and securities laws impacting managerial decisions in the areas of “choice of entity” (with a focus on sole proprietorships/tax-disregarded entities, partnerships, limited liability companies, and corporations, both “C” and “S”), taxation, management structure, capital infusions, mergers, and acquisitions.
BUSI 250 Organizational Management and Theory (4)
This course examines the functions of management, planning, organizing, leading and controlling with an emphasis on the application of management theories and concepts to achieve organizational goals. Students are introduced to frameworks for understanding organizations to improve their effectiveness as a team member, manager, or leader. Topics include purposes, structure, bureaucracy, decision-making, communication, and power and control in organizations.
BUSI 320 Tax Theory and the Federal Income Tax (4)
This course provides students with an understanding of various economic policies and principles underlying the Federal income tax and the tax and jurisprudential theories underpinning that body of law. Those policies and theoretical underpinnings are demonstrated and evidenced through a survey of various Internal Revenue Code provisions, Treasury regulations, and court decisions dealing with the Federal income tax as applied both to individuals and to businesses, both domestic and international.
BUSI 352 Proseminar I (4)
Designed to complement the student's internship experience, this seminar features a selected topic involving the study of business and markets such as business history or philosophical perspectives on capitalism. The seminar includes instruction designed to help students develop practical business skills. Open only to Carey Fellows. Prerequisite: ECON 101.
BUSI 353 Proseminar II (4)
A continuation of proseminar I. Open only to Carey Fellows. Prerequisite: ECON 101 and BUSI 352.
BUSI 385 Special Topics (2 or 4)
A selection of topics are explored depending on interest. This course may be repeated once for credit when the topic differs.
BUSI 400 Strategic Management (4)
This course provides the rationale and development of strategies, policies and systems as managerial means to pursue organizational purposes and goals. Through a variety of methods, including case studies, current event analysis, group projects and an individual writing assignment students improve their skills of critical thinking, analysis, and decision-making. Prerequisite: ECON 101, ECON 360, BUSI 215, and junior or senior standing.
BUSI 442 Internship (2 to 8)
Prerequisite: Approved Internship Plan.
BUSI 444 Independent Study (2 or 4)
Supervised research for selected students. This course may be repeated for credit when the topic differs. Prerequisite: Instructor prerequisite override required.