Lawrence E. McKibbin, Dean and Professor Gene C. Wunder, Associate Dean and Associate Professor Russell E. Smith, Director of Graduate Programs Mary Alice Hines, C. W. King Endowed Chair and Professor W. Gary Baker, Professor James Eck, Professor Robert Gustavson, Professor Mary Alice Hines, Professor Walter James, Professor Richard Moellenberndt, Professor Richard Olson, Professor William Roach, Professor Ray Siehndel, Professor Gary Cameron, Associate Professor Novella Clevenger, Associate Professor Thomas Clevenger, Associate Professor Martha Crumpacker, Associate Professor Robert Hull, Associate Professor Robert Kerchner, Associate Professor Teresita Salinas, Associate Professor Russell Smith, Associate Professor Linda Woolf, Associate Professor Gene Wunder, Associate Professor Juliann Mazachek, Assistant Professor Darryl Miller, Assistant Professor Kanalis Ockree, Assistant Professor Dan Kingman , Director Small Business Development Center Shirley Byrnes, Director of Business Programs GENERAL INFORMATION A BRIEF HISTORY The School of Business was established on July 1, 1973, by action of the Board of Regents. The Bachelor of Arts (BA) degree with a major in Economics has been available to Washburn University students since 1904. In 1946, the Bachelor of Business Administration (BBA) degree was created. A Master of Business Administration (MBA) degree program was implemented in 1982. The School of Business administers the Economics major within the BA degree, the BBA, and the MBA degrees. PHILOSOPHY AND OBJECTIVES The role of the School of Business is to provide quality professional instruction in business and economics. This includes study leading to undergraduate and graduate degrees or complementary study for other degree programs. With a commitment to quality professional instruction in business, the School offers a Bachelor of Business Administration degree in the following major areas of study: Accounting, Economics, Finance, Management, Marketing, and General Business. The overriding objective of the BBA and the MBA programs is to prepare students to perform successfully in the complex world of business. The academic programs reflect the philosophy that business administration is an integral part of a dynamic economic, social and political environment. Courses offered by the School of Business are designed to develop qualities in students which will help them realize their potential. Emphasis is placed on analytical skills and sound reasoning techniques that are crucial to the decision making process. In addition to developing a perspective of the environment in which business operates, students are encouraged to develop basic knowledge, skills and attributes that are widely transferable and applicable throughout a lifetime of learning on and off the job. To achieve this objective, the programs in the School of Business offer students a broad educational background by requiring not only business courses but also courses from other disciplines such as English, mathematics, humanities, and the natural sciences and social sciences. SCHOLARSHIPS In recognition of the quality of School of Business programs, many alumni, individuals, and organizations have given generously to support worthy students with financial aid. Current scholarships are listed below; however new donors are added regularly. For information and applications, please contact the Director of Financial Aids or the Office of the Dean, School of Business, Washburn University. American Home Life Insurance Company Scholarship Ruth Baldwin Scholarship Fund Penn B. Blair Memorial Scholarship Gregory D. and Ronda K. Brenneman Max L. Campbell Family Memorial Scholarship Fund M. L. Pauline Carlson Memorial Scholarship Donald Allen Chubb Memorial Scholarship Lauranne R. Clothier Scholarship Commonwealth Mortgage Co. Community Financial Service Scholarship Fund Kansas CPA Scholarship Thelma Ann Davidson Memorial Scholarship W. Laird Dean Memorial Trust Scholarship Harold L. Dick Business Scholarship Fund Fidelity State Bank and Trust Co. and Mr. and Mrs. Anderson Chandler School of Business Scholarship Paul and Pauline Givens Scholarship Fund John and Harriet Green Scholarship Fund George W. Greenwood Memorial Scholarship Larry L. & Lucille L. Hinderlighter Scholarship Independent Insurance Agents of Topeka, Inc. Scholarship Fund Insurance Women of Topeka Scholarship Fund William A. Cocky Irwin Business Scholarship Kay Houser America Business Women s Association Business Scholarship John F. Kilmartin Business Leaders Scholarship Fund Terry J. and Judy L. Kimes Scholarship Fund Clarence W. King Scholarship Thomas L. and Janett Miller King Scholarship David N. Lieberman Business Scholarship David Brian Little Business Scholarship Fund Dale C. Marcoux Scholarship Fund Terry and Phyllis Marshall Business Scholarship Fund Mize Houser Mehlinger and Kimes Accounting and Computer Science Scholarship Cleora Nemec Scholarship Charles A. and Margaret W. Pollak Fund Louis and Ruth Ann Pozez Scholarship Professional Advertising Club of Topeka Scholarship Harold and Marrion Rolley Endowment Fund Chester L. Seeley Scholarship Fund Donald A. Stark Business Leader Scholarship Fund Raymond A. and Janice D. Stewart Scholarship Payless Shoe Source/May Department Store Company Business Scholarship Arthur L. Shultz Banking & Finance Scholarship Stanley Stauffer-Yellow Freight System Inc. Transportation Scholarship Fund Richard G. Vogel Appreciation Scholarship Washburn Accounting Society Scholarship Donald C. Wright Business Scholarship SCHOLASTIC RECOGNITION SCHOOL OF BUSINESS HONORS Candidates for the Bachelor of Business Administration degree may qualify for School of Business Honors provided the following criteria are met: 1. Accumulate a grade point average (GPA) of at least 3.50 in all accounting, business and economics courses applied to the BBA degree, and 2. Demonstrate superior research and/or independent study skills while enrolled in Business 405, and 3. Be approved for honors designation by a two-thirds vote of the School of Business faculty. In fulfilling conditions (2) and (3), the student will be expected to provide any academic data requested and to provide the School with an extra copy of written work prepared for credit in Business 405. A formal application must be submitted to the School of Business early in the second semester of the academic year in which the student expects to graduate. HONORS IN ECONOMICS Candidates for the Bachelor of Arts degree, with a major in economics, may qualify for Honors in Economics provided the following criteria are met: 1. Accumulate a GPA of at least 3.50 in all economics courses applied to the BA degree, and 2. Demonstrate superior research and/or independent study skills while enrolled in Economics 405, and 3. Be approved for honors designation by a two-thirds vote of the School of Business faculty. In fulfilling conditions (2) and (3), the student will be expected to provide any academic data requested and to provide the School with an extra copy of written work prepared for credit in Economics 405. A formal application must be submitted to the School of Business early in the second semester of the academic year in which the student expects to graduate. SCHOOL OF BUSINESS SCHOLARS Students graduating with the Bachelor of Business Administration degree will be awarded the designation of School of Business Scholar provided they have accumulated a GPA of at least 3.50 in all accounting, business, and economics courses and rank in the upper quartile of the Washburn University graduating class. DEAN S AND PRESIDENT S HONOR ROLLS FOR UNDERGRADUATES In order to be included on the Dean s Honor Roll, School of Business, a student must: 1. Have been admitted to, and be in good standing with, the School of Business, and 2. Have completed at least twelve graded semester hours with a GPA of at least 3.40 during the immediately preceding semester. Students who have completed at least 12 graded semester hours with a GPA of 4.00 during the immediately preceding semester will be included on the President s Honor Roll. OMICRON DELTA EPSILON-International Honor Society in Economics The objectives of Omicron Delta Epsilon are recognition of scholastic attainment and the honoring of outstanding achievements in economics; the establishment of closer ties between students and faculty in economics within colleges and universities, and among college and universities; and the publication of the official journal, The American Economist. Any student who has a genuine interes major, is eligible to become a member of ODE if he/she has completed at least twelve semester hours in economics with a 3.00 GPA or better and has achieved an overall GPA of 3.00 or better. Applications are accepted in the Fall Semester until October 10 and in the Spring Semester until February 24. SPECIAL PROGRAMS MINOR IN BUSINESS The business minor, designed to provide the non-business student with an understanding of the essentials of business methods and practices, consists of nine hours in accounting and economics (EC201, EC202, and AC224), three hours in management (BU342 or BU345 or BU346), and nine additional hours of which six must be at the upper division level. These nine additional hours are to be selected by the student in consultation with a business advisor. INTERNSHIPS A student, during the senior year, may participate in one of several internship programs. The purpose of an internship is to provide the student with a new learning experience in an on-the-job situation. School of Business credit hours may be allowed for employment, either part-time or full-time, with a business firm or a governmental agency. Both the student intern and the employer are required to file progress reports with the internship coordinators on a regular basis. Internship credit hours are graded on a pass/fail basis only. For further information, interested students should consult with their faculty advisors. Descriptions of the programs are provided in the course listings of this catalog under Accounting 499 -Internship in Accounting, Business 499 -Internship in Business, and Economics 499-Internship in Economics. The total number of credits of School of Business internship(s) may not exceed six (6) semester hours; not more than three hours may be taken during any semester. SMALL BUSINESS INSTITUTE The Small Business Institute is a program offering selected senior students an opportunity to provide management counseling and technical assistance, under the direction of experienced faculty, to small businesses which request such assistance. The program is sponsored on a nationwide basis by the Small Business Administration. For further details, interested students should consult with their faculty advisors. A description of the course is provided in the course listings of this catalog under Business 460 and Business 461- Small Business Institute. STUDY ABROAD Juniors or seniors may satisfy part of their degree requirements while spending one or two semesters in approved study abroad programs that place special emphasis on international business and economics. Washburn has exchange agreements with: Denmark International Studies (DIS), Copenhagen Orebro University, Sweden University of Claremont-Ferrand, France Programs of study in many other countries can be arranged. For further information contact the Office of the Dean, School of Business or the Director of the International Center, Washburn University. STUDENT ORGANIZATIONS A complete listing of organizations available to Washburn University students may be obtained from the Student Affairs office. Those of particular interest to students in the School of Business are listed below: Delta Sigma Pi A professional business fraternity, nationwide in scope, that fosters the study of business and sponsors professional and social activities. Omicron Delta Epsilon International honor society in economics organized to encourage and recognize scholarship in economics. Phi Beta Lambda As a national professional organization, Future Business Leaders of America/Phi Beta Lambda promotes competent aggressive business leadership through professional competitive activities on the local, state and national levels. Washburn Accounting Society Organized to foster the study of accounting and to sponsor professional and social activities. Washburn Finance Society Open to students at Washburn University who are interested in investments, capital markets, banking, real estate and other finance-related areas. Washburn Marketing Association Open to any student at Washburn University who has an interest in marketing, sales, advertising, public relations, or other related areas. CONTINUING EDUCATION The School of Business at Washburn University offers a wide range of noncredit seminars and workshops each semester to the business community. The Professional Development Series is designed to help managers, supervisors, and other professionals acquire education and training in a broad range of development opportunities. In addition to management training seminars, the School of Business offers seminars in real estate and insurance, and conducts a number of in-house training programs. SMALL BUSINESS DEVELOPMENT CENTER The Washburn University Small Business Development Center (SBDC) provides university-based management assistance for small business owners or potential owners in the Northeast Kansas counties of Shawnee, Jackson, Brown and Nemaha. The SBDC offers training programs, consulting services, applied research and has a variety of small business information available. The services of the Small Business Development Center are available to business owners or potential owners who cannot afford to obtain assistance through other professional sources. ADMISSION REQUIREMENTS All students who have been admitted to Washburn University may enroll in courses offered by the School of Business provided they satisfy the prerequisites of the courses in question. Procedures and requirements for admission to the University are described in this catalog (see Admission Requirements in index). However, candidates for degrees other than the BBA degree are limited to a maximum of 21 semester hours of Accounting (AC) and Business (BU) courses within the 124 minimum required for graduation. Students desiring to fulfill the requirements for a Bachelor of Business Administration (BBA) degree may be admitted to the School of Business provided they have completed a minimum of fifty-four semester hours of college credit; have earned a cumulative grade average of at least 2.0; have completed at least six hours of accounting, at least six hours of principles of economics, and Economics 211, Statistics for Business and Economics, or its equivalent, and BU 250, Management Information Systems, with a C or better grade in each course. Mathematics 343, Applied Statistics, may be substituted for Economics 211. A minimum of 30 semester hours must be earned after being admitted to the School of Business. The School of Business reserves the right to evaluate any credit hours offered for transfer relative to the current standards before accepting or rejecting such hours. Students should file an application for admission with the office of the Dean of the School of Business as soon as the student becomes eligible to apply. Students who have not already declared their major will do so at the time of admission by filling out the declaration of major form. If a student decides to change majors, the student may do so at a later time. ADVISEMENT It is important that a member of the School of Business faculty advise any student who intends to work toward the Bachelor of Business Administration degree. Faculty will assist students in selecting a major and in planning their academic schedules. GRADUATION REQUIREMENTS: BACHELOR OF BUSINESS ADMINISTRATION I. Requirements Common to all Bachelor Degrees The student must meet the requirements common to all bachelor degrees established by the University. For description, see Requirements Common to all Bachelor Degrees in Index. II. Specific Degree Requirements 1. BBA candidates must complete at least 62 hours of coursework in the general education subject areas or coursework offered by the Computer Information Sciences Department. A maximum of six hours of Principles of Economics and three hours of Economic Statistics may be counted within the 62 hours. Mathematics (MA 110 or 116) and the English Composition courses (EN 100, 101, 102, 300 and HN 102) will count in meeting the required 62 hour minimum. 2. The following School of Business courses must be taken by all BBA candidates. Accounting 224 Financial Accounting Accounting 225 Managerial Accounting Business 250 Management Information Systems Business 315 Legal Environment of Business Business 342 Organization and Management Business 347 Production & Operations Management Business 360 Marketing Business 381 Business Finance Business 449 Business Policies Economics 201 Principles of Macroeconomics Economics 202 Principles of Microeconomics Economics 211 Statistics for Business and Economics A grade point average of at least 2.0 is a prerequisite for enrollment in required courses numbered 300 or above. Prerequisites are met only by successfully completing a prerequisite course with a grade of "C" or better. A student must have completed at least 54 semester hours in order to enroll in any accounting, business or economics course numbered 300 or above. 3. BBA candidates must complete an additional 21 hours of upper division coursework offered by the School of Business. This may be done in either of the following ways. A student may select courses from a number of subject areas within the School of Business and receive a general business degree. Alternatively, a student may complete one (or more) of the following major areas of concentration. These are Accounting, Economics, Finance, Management, and Marketing. The specivic requirements of each of these majors are found below. 4. BBA candidates must complete a course in oral communication with a grade of C or better. Tis course must require a student to prepare and present an oral communication. Washburn University courses that satisfy this requirement are SC 150 Public Speaking, SC 241 Business and Professional Speaking, SC 154 Forensics, and SC 343 Forensics. (This course may be applied to the Arts and Humanities general education group.) 5. A grade of C or better must be earned in each course required by the School of Business and in each additional required course applied to a major area of concentration. 6. BBA degree candidates will not be allowed credit for 100 level courses within the last 60 hours presented for the degree. Exceptions are permitted for courses which could be used to satisfy the general education requirements, Computer Information Science Department courses, and those approved by the Dean of the School of Business. 7. At least 50 percent of the accounting, business, and economics hours used to meet requirements for the BBA degree must be earned at Washburn University. PASS/FAIL POLICY Candidates for the BBA degree in Business Administration and candidates for the BA degree in Economics may not take required courses pass/fail. In the event a student has pass/fail credit in a required course before admission to the School, the student may be required, as a condition of admission, to take an alternative course or courses for regular credit to fulfill such requirements. RECOMMENDED FRESHMAN AND SOPHOMORE PROGRAM FOR BACHELOR OF BUSINESS ADMINISTRATION CANDIDATES Freshman First Semester (16 Credit Hours) English 101 Freshman Composition General Education (Mathematics)* (12) Physical Education (1) Second Semester (16 Credit Hours) Mathematics 140 Statistics General Education (12) Physical Education (1) Sophomore First Semester (15 Credit Hours) AC 224 Financial Accounting EC 201 Principles of Macroeconomics EC 211 Statistics for Business and Economics General Education and other Electives (6) Second Semester (15 Credit Hours) AC 225 Managerial Accounting EC 202 Principles of Microeconomics BU 250 Management Information Systems General Education and other Electives (6) Students planning graduate study in accounting, business or economics are encouraged to take Mathematics 141 and 142 or appropriate higher level mathematics courses. *Students who have not completed at least two years of high school algebra should obtain proper placement in the algebra sequence. Enrollment in the sequence should be continuous until MA 110 - Exploring Mathematics or MA 116 - College Algebra is completed. MAJOR AREAS OF CONCENTRATION Candidates for the BBA degree may choose a major from any of the following subject areas: accounting, economics, finance, general business, management, and marketing. A double major may be completed within the 124 hour total by meeting all requirements of the two majors. Any student seeking to earn a third major within the BBA degree must offer at least 136 hours of credit. ACCOUNTING. There are many career choices within the profession of accountancy. The three principal areas of employment are in industrial concerns, public practice, and governmental agencies. Industrial accountants assemble and interpret meaningful and relevant business information to interested parties within their employer s firm. Public accountants provide advice primarily in three areas: income taxes, auditing, and management services. Governmental accountants perform services similar to those by industrial and public accountants for local, state and national governmental agencies. Candidates for the degree of Bachelor of Business Administration (BBA) with a major in accounting must (1) meet the University requirements, (2) meet the School of Business requirements, and (3) complete at least twenty-four semester hours in the discipline of accounting. The following courses are required: Accounting 321 Intermediate Financial Accounting I Accounting 322 Intermediate Financial Accounting II Accounting 325 Cost Accounting Accounting 330 Accounting Systems Accounting 423 Federal Taxation I Accounting 425 Auditing Candidates for the Uniform Certified Public Accountant Examination must also fulfill the subject matter requirements of the Kansas Board of Accountancy. Students desiring to attempt the examination for the Certificate in Management Accounting must meet the requirements of the Institute of Management Accounting. Information regarding the CPA examination and the CMA examination may be obtained from the accounting faculty. ECONOMICS. The economics curriculum is designed to provide the student with an understanding of the principles and institutions governing economic decisions made by households, businesses, and governments. This type of knowledge, combined with studies in related areas, provides an appropriate background for employment in financial and non-financial business firms and governmental agencies. It also provides a solid basis for graduate study in economics, business and public administration, urban planning, international studies, and law. A major in economics may be earned by any student who is either a candidate for the Bachelor of Arts degree or a candidate for the Bachelor of Business Administration degree. Requirements for the Bachelor of Arts degree with a major in economics are described on the next page. The following courses are required for economics major in the Bachelor of Business Administration degree: Economics 300 Microeconomic Analysis Economics 301 Macroeconomic Theory Six additional upper division economics hours Students should consult with their advisors concerning the six (6) additional upper division hours. FINANCE. The finance curriculum is designed to prepare students for (1) careers in government services, corporate financial management, commercial banking, security analysis, insurance, real estate, and other finance fields, and (2) graduate study. Students are encouraged to meet with faculty advisors as early as possible in order to plan a program which will satisfactorily fulfill their goals. The following courses are required for a major in finance: Business 374 Principles of Risk and Insurance Business 483 Investments Business 488 Financial Management Economics 485 Money and Banking MANAGEMENT. Management courses in the fields of organization theory, human relationships, administrative communication, and related behavioral areas provide students with pertinent background for management careers in business and non-business organizations. A student may concentrate in the areas of personnel management, industrial relations, and industrial management by selecting appropriate elective courses in consultation with an advisor. The following courses are required for a major in management: Business 302 Business Communications Business 345 Human Resource Management Business 346 Organizational Behavior Economics 341 Labor Economics MARKETING. The marketing curriculum involves analysis of the ways business firms plan, organize, administer, and control their resources to achieve marketing objectives. Through proper selection of courses, a student may prepare for a career in general marketing management, promotion management, personal selling and sales management, marketing research, channels management, and/or retail management. The following courses are required for a major in marketing: Business 362 Marketing Research Business 364 Consumer Behavior Business 471 Marketing Management AND Three (3) additional hours from the following: Business 361 Principles of Retailing Business 363 Promotion Business 366 Sales Business 466 International Marketing Business 473 Marketing Channels GRADUATION REQUIREMENTS: BACHELOR OF ARTS IN ECONOMICS The economics curriculum is designed to provide the student with an understanding of the principles and institutions governing economic decisions made by households, businesses, and governments. This type of knowledge, combined with studies in related areas, provides an appropriate background for employment in financial and non-financial business firms and governmental agencies. It also provides a solid basis for graduate study in economics, business and public administration, urban planning, international studies, and law. Each candidate for the degree of Bachelor of Arts with a major in economics must meet the University requirements for the degree and in addition, offer at least twenty-seven (27) hours in economics. At least fifteen of the twenty-seven hours offered for the major must be represented by courses numbered 300 or above. The following courses must be included within the twenty-seven hours: Economics 201, 202, 211, 300, and 301. A grade point average of 2.0 is required before enrollment is permitted in Economics 300 and 301. Candidates for the degree are encouraged to elect courses in mathematics, political science, history, sociology, psychology, and philosophy. At least one computer language course is highly recommended. A minor field of concentration of at least twelve (12) hours in an area other than economics or business administration is required. Students planning graduate study in economics are strongly urged to take the BA degree with a minor field of concentration in mathematics. COURSE OFFERINGS Each course is listed with number, name, semester hours of credit, and course description. Courses in the 100-200 series are lower division courses, normally taken in the freshman or sophomore year. Upper division courses are in the 300 and 400 series and require junior standing (at least 54 hours completed) prior to enrollment. Some courses numbered 400 and above may be taken for graduate credit. Courses numbered 900 and above are reserved exclusively for graduate credit. UNDERGRADUATE COURSES ACCOUNTING COURSES AC 224 Financial Accounting(3) The study of accounting as a means of communicating financial information about the activities of business enterprises. Emphasis is placed on concepts and principles underlying the measurement of income and financial position and how this information may be used to evaluate the progress of a firm. Recommended for the sophomore year. AC 225 Managerial Accounting (3) The development and use of information in the accounting system as a managerial decision tool. Prerequisites: Accounting 224 and Business 250 or concurrent enrollment. Recommended for the sophomore year. AC 321 Intermediate Financial Accounting I (3) Financial theory and problems. Emphasis is on valuation and measurement problems of income determination and balance sheet presentation. Prerequisites: Accounting 225 and 54 hours. AC 322 Intermediate Financial Accounting II (3) A continuation of financial accounting theory and problems. Prerequisites: Accounting 321 and 54 hours. AC 325 Cost Accounting (3) A study of inventory valuation procedures in manufacturing concerns and the processing, analysis and interpretation of data for use by management in the planning and control of operations. Prerequisites: Accounting 225, Business 250 and 54 hours or consent. AC 330 Accounting Systems (3) Development and design of an accounting system. Emphasis on procedures necessary to meet generally accepted auditing standards and methods and techniques to evaluate internal control of an accounting system. Prerequisites: Accounting 225, Business 250 and 54 hours. AC 403 Special Topics in Accounting (1-3) Selected topics announced in advance. May be taken more than one semester. Prerequisite will be specified for each topic. AC 404 Independent Study in Accounting (1-3) Individual study of a topic in taxation. Activity must be supervised by a full-time School of Business faculty member with professorial rank. Prerequisite: Consent of directing faculty member prior to enrollment. AC 421 Advanced Financial Accounting (3) Accounting methods and procedures related to partnerships, branches, business combinations, and foreign exchange. Prerequisite: Accounting 322. AC 423 Federal Income Taxation I (3) Income tax laws, regulations, and procedures pertinent to individual taxpayer reporting. Prerequisites: Accounting 225 and 54 hours. AC 424 Federal Income Taxation II (3) Income tax laws, regulations, and procedures pertinent to partnership, corporation, and fiduciary reporting. Prerequisite: Accounting 423. AC 425 Auditing (3) The course covers essential processes of Auditing including specific procedures and techniques useable in the public and private sectors. Technical standards of these sectors receive attention with an emphasis on ethics related to the profession of auditing. The course includes operational and compliance auditing in addition to auditing of financial statements. Other content areas are the auditor s role in society, the application of internal control concepts, the understanding of accounting information systems, the methods of statistical sampling and the use of auditing software. Prerequisite: Accounting 322. AC 427 Governmental and Institutional Accounting (3) Methods and procedure used in fund accounting with emphasis on governmental units and not-for-profit institutions. Prerequisites: Accounting 225 and 54 hours. AC 431 Contemporary Issues in Accounting (3) Current issues in accounting with emphasis on the releases of the American Institute of Certified Public Accountants and the Financial Accounting Standards Board. Includes accounting theory to solving accounting problems. Prerequisite: Accounting 322. AC 499 Internship In Accounting (3) Professional work experience with a business firm or governmental agency in some phase of public, private, or governmental accounting. The work situation must create a new learning experience for the student. Credit hours in this course may be used only as elective business hours and will not count toward the minimum fifty hours of accounting, business, and economics hours required of the BBA candidate nor will they count toward the minimum twenty-four hours of accounting required of accounting majors. Internship credit hours will be counted in the maximum School of Business hours an accounting major may earn within a 124-hour program. The student s grade will be awarded on a pass-fail basis, as determined by the supervising faculty member. Prerequisites: Consent of the accounting faculty, appropriate academic background, at least 88 semester credit hours, at least a 2.5 overall grade average, and meet the general qualifications specified by the sponsoring business firm or governmental agency. BUSINESS COURSES BU 101 Introduction To Business (3) Designed to introduce the student to the American business system, and to analysis of business organization and operation. Not recommended for Business majors. BU 145 Supervisory Management (2) Decision making, communications and leadership in for-profit and nonprofit organizations. Emphasis is given to the first-line supervisor s position in the organization. BU 180 Personal Finance (3) Personal and family financial planning. Topics include: consumer legislation, consumer finance, family budgeting, estate planning, insurance, individual income tax, home buying, mortgages, retirement pensions, and investments. BU 250 Management Information Systems (3) Concepts of information systems; analysis, evaluation and implementation of management information systems; data base management; information systems and management. Prerequisite: MA 104 Intermediate Algebra or equivalent proficiency. Recommended for the sophomore year. BU 260 Small Business Administration (3) Those aspects of business operation that are unique to the administration of small firms. Concepts and principles of the entrepreneurial function in the small business environment are considered in-depth. BU 302 Business Communications (3) Written communications including simpler types of business messages. Emphasis is placed on positive planning for effective human relations through management messages. Prerequisites: English 101 or English 140 with grade of C or better and 54 hours. BU 315 Legal Environment of Business (3) Legal process, nature and sources of the law, government regulation and administrative law as they affect business. Prerequisites: Economics 202 and 2.0 GPA, and 54 hours. BU 342 Organization and Management (3) Decision making, communication and leadership in business organizations. Emphasis is given to the development of management, organizational structures, organizational dynamics, the impact of environmental forces and use of analytical tools in the performance of the management function. Prerequisites: Economics 202, 2.0 GPA, and 54 hours. BU 345 Human Resources Management (3) The principles and practices of sound employee relations with emphasis upon the selection, development and morale of employees. Prerequisites: Economics 202 and 54 hours. BU 346 Organizational Behavior (3) Review of theory and research related to work behavior in organizations with focus on individual and group behavior. Prerequisites: Psychology 100 or Sociology 100, and 54 hours. BU 347 Production and Operations Management (3) Principles and practices of managing industrial concerns. Consideration is iven to plant location, scientific management, standardization and production problems. Prerequisites: Business 250, Business 342, Economics 211 (or Mathematics 343), AC 225, and 2.0 GPA. BU 360 Marketing (3) The performance of marketing functions and policy considerations at the manufacturer, wholesale, and retail levels of distribution. Prerequisites: Economics 202, 2.0 GPA, and 54 hours. BU 361 Principles of Retailing (3) Structural organization for retailing and the functional activities involved. Principles of site selection, staffing, planning, pricing, buying merchandise, sales promotion and expense management are included. Prerequisite: Business 360. BU 362 Marketing Research (3) Techniques by which industries and individual firms seek to coordinate buying with consumer demand. Application of research techniques to various marketing problems. Prerequisites: Business 360, Economics 211 (or Mathematics 343). BU 363 Promotion (3) Examination of the promotion function of the marketing mix. Topics include: promotion strategy; management of the promotion mix (advertising, sales promotion, public relations); media strategy; evaluation. Prerequisite: Business 360. BU 364 Consumer Behavior (3) The behavior of buyers of goods and services. An examination will be made of theories, concepts, methods and research findings of other disciplines and a study of the relation of these findings to management decision making. Industrial and consumer buying behavior will be considered within the context of the course. Prerequisite: Business 360. BU 366 Sales (3) A detailed examination of the selling dimension of the promotion mix. Topics include: personal communication; personal selling; relationship-building; and sales strategy and management. Prerequisite; Business 360. BU 374 Principles of Risk and Insurance (3) The study of risk and insurance, dealing with the principal risks to which individuals are exposed, and the various means of dealing with risk, including insurance, risk retention, self-insurance, and loss prevention. Further, it examines the responsibilities and activities for treating risk at three levels: personal and family, employer, and government. Prerequisite: 54 hours. BU 375 Property and Liability Insurance (3) An advanced insurance course of current financial, legal and social problems involving property-liability insurance; analysis of legal problems involving insurance coverages, financial aspects, and governmental regulation of the property-liability insurance enterprise, and economic aspects of the insurance industry. Prerequisite: Business 374 or consent. BU 378 Life Insurance (3) The problems of and the alternative techniques for the insuring of human life values from the differing viewpoints of the company, the economy, and the consumer. Among the topics covered are: financial needs in the life cycle of the family, settlement options and the programming elements of business insurance, estate planning, probability theory mortality, rating and reserves. Prerequisite: Business 374 or consent. BU 381 Business Finance (3) Theory and techniques of financial management, designed to provide the basic financial background needed by students in business, economics, or related fields. Topics include: capital budgeting, capital structure, dividend policy, the cost of capital, and working capital management. Prerequisites: Accounting 225, Economics 211 (or Mathematics 343, or Mathematics 140 and Mathematics 235), 2.0 GPA, and 54 hours. BU 387 Credit Management (3) Principles and procedures involved in mercantile and consumer credit. The organization and operation of a credit department, source of credit information, and collection procedure and policies. Prerequisites: Economics 201, and 54 hours. BU 390 Principles of Real Estate (3) A course that surveys the many areas of the real estate business and real estate investment. Financing, appraisal, loan closing, marketing, property management, land description, title transfer and other topics are included in the course. Prerequisite: 54 hours. BU 391 Real Estate Finance (3) Methods of financing residential, commercial and industrial properties. The nature of mortgage loans for construction and permanent financing and land development. Sources of funds, lender requirements, and loan and investment yield analysis. Secondary mortgage market financing. Prerequisite: Business 381. BU 392 Real Estate Law (3) Elements of property laws, purchase contracts, listing agreements, estates and trusts. Prerequisite: Business 315. BU 393 Real Estate Appraisal (3) An introduction to real estate appraising including the market comparison, cost and income approaches to value with emphasis on house appraisal. Prerequisite: 54 hours. BU 403 Special Topics in Business (1-3) Selected topics announced in advanced. May be taken more than one semester. Prerequisites will be specified for each topic. BU 404 Independent Study in Business (1-3) Individual study of a topic in business. Activity must be supervised by a full-time School of Business faculty member with professorial rank. Prerequisite: Consent of directing faculty member prior to enrollment. BU 405 Honors Research in Business (2-4) Restricted to those students seeking to qualify for honors in the major field and designed to provide an intellectual challenge for superior students with a strong interest in scholarship. Course activity must be supervised by a member of the full-time School of Business faculty with professorial rank. Prerequisites: 88 hours and consent of instructor. BU 416 Commercial Transactions (3) Commercial law in the area of the Uniform Commercial Code, suretyship, insurance, professional responsibilities, etc. Prerequisite: Business 315. BU 417 Legal Business Associations (3) Examination of the law of agency, partnerships, corporations, and security regulations. Prerequisite: Business 315 recommended. BU 418 Business Legal Problems (1-4) Selected topics announced in advance. May be taken more than one semester. Prerequisites will be specified for each topic. BU 449 Business Policies (3) Integrate the functional areas of business in formulating and implementing basic policy for business. Analytical approach to strategic decisions applied to practical examples of problems faced by business firms. May not be taken for graduate credit. Prerequisites: Business 342, Business 360, Business 381, 2.0 GPA and 88 hours. BU 460-461 Small Business Institute (3) Student groups counsel and consult with small business firms selected by the Small Business Administration and the instructor. Field work with the firms provides opportunities to identify and analyze problems, and to make recommendations. Prerequisites: Senior business major and consent of instructor. BU 466 International Marketing (3) Analysis of marketing management problems, techniques and strategies in international marketing; emphasizing changes in competition and market structure abroad. Prerequisite: Business 360. BU 471 Marketing Management (3) Examination of the strategic marketing management process - planning, implementation, and control. Topics include: environmental, competitor, and customer analysis; market targeting; the marketing mix; and the international aspects of marketing managment. Case analysis and marketing models are used. Prerequisites: Business 360 and 88 hours. BU 473 Marketing Channels (3) The distribution function of the marketing mix. Topics include: channel structure and function; strategic channel development; channel management and logistics; direct channels, service channels, franchising, and international distribution channels. Prerequisite: Business 360. BU 475 Theory of Insurance (3) The nature and cost of risk in our economic society, and of the methods of handling it. Prerequisite: Business 375 or consent of instructor. BU 483 Investments (3) The theory and techniques of financial asset analysis including the fundamental, technical, and efficient market approaches. The course is designed to provide background needed by individuals (regardless of major) to make investment decisions. Topics include: market mechanism, mutual funds, the yield curve, fundamental common stock analysis, and portfolio theory. Prerequisites: Business 381 and 54 hours or consent. BU 488 Financial Management (3) Specialized skills in corporate financial management are developed through the application of techniques such as linear programming, simulation analysis, and modern decision theory. Problem areas covered include working capital management, capital budgeting, and capital structure. Prerequisite: Business 381. BU 493 Income Property Appraisal (3) Techniques and methods used in appraising income properties. Prerequisite: Business 393 or consent. BU 495 Real Estate Investment (3) Cash flow and investment return analysis of income-producing properties. The most commonly used methods of yield analysis are used in real estate investment case analysis. Financing, appraisal, taxation, and property rights are applied to apartment and office buildings, shopping centers, and industrial parks. The capstone real estate course. Prerequisites: Business 390 and 54 hours. BU 499 Internship in Business (3) Professional work experience with a business firm or governmental agency in the following areas of specialization: finance and banking, management, and marketing. The work situation must create a new learning experience for the student. Credit hours may be used only as elective business hours and will not count toward the minimum fifty hours of accounting, business, and economics hours required of the BBA candidate. The students grade will be awarded on a pass-fail basis, as determined by the supervising faculty member. Prerequisites: Consent of the major area faculty, appropriate academic background, at least eighty-eight (88) semester credit hours, at least a 2.5 overall GPA, and meet the general qualifications specified by the sponsoring business firm or governmental agency. ECONOMICS COURSES ( Courses marked with an