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Morris Bulletin / Division Structure and Course Descriptions

Management (Mgmt)

This discipline is in the Division of the Social Sciences. It offers a liberal arts-based program of studies that allows students to enter the field of management as a professional or proceed to further studies at the graduate level.

Objectives—Modern society demands liberally educated managers who work in business firms, government agencies, and non-profit oriented organizations. They are entrusted with managing the financial, material, and human resources of their organizations so as to produce the maximum benefits for their investors, employees, and society as a whole. Studies in management focus on those areas of human knowledge that deal with the operation of modern business enterprises and other organizations. In addition to developing competencies in the use of the social and mathematical sciences, students majoring or minoring in this field are expected to learn to critically examine business and other institutions from the perspectives of philosophy, the social and natural sciences, and the arts and humanities.

Admission to the Major—The Division of Social Sciences limits the total number of students admitted to the major. UMM and transfer students seeking admission must apply to the Management Admissions Committee. The application deadline is April 15 for admission to the major beginning the following fall quarter, and applicants will be notified of the admission decision by May 5. Further details may be obtained from the office of the Division of the Social Sciences.

Requirements for a Major include Mgmt 1211, 1212, 3200, 3220, 3240; Econ 1101, 1102; Math 1140 or 1201 and 1202, 1150 or 3605 or 3610 and 3611; Spch 1100; 10 credits chosen from Mgmt 3205, 3211, 3212, 3213, 3215, 3225, 3230, 3251, 3700, 3750; and an additional 25 credits in management or economics 3xxx courses (particularly recommended are Econ 3101, 3105, and 3400). In addition to the required courses, CSci 1200, Engl 3110, 3200, 3220, Phil 3253, Pol 3240, and Psy 1201, 1202 are highly recommended. Grades of D in Econ 1101, 1102, Math 1140, 1150 or their equivalents and Mgmt 1211, 1212 are not acceptable to meet the major requirements. No more than 5 credits of coursework in management or economics with the grade of D are allowed to meet major requirements and all D credits must be offset by an equivalent number of credits of A or B. Required courses may not be taken S-N unless only offered S-N.

Note: Students should complete Econ 1101, 1102, Mgmt 1211, 1212, and Math 1140 and 1150 or their equivalents during the first two years. Prospective majors should see a management faculty member before registering for classes. Consultation with an adviser is essential to program planning.

Requirements for a Minor include Mgmt 1211, 1212, 3220; Econ 1101, 1102; Math 1150; and any two courses selected from the following: Mgmt 3200, 3205, 3211, 3212, 3213, 3215, 3225, 3230, 3240, 3251, 3700, 3750, 3800; Econ 3400; Math 1140. Students planning to pursue an M.B.A. degree should complete the following courses in addition to the management core: Mgmt 3200, 3215, Econ 3400, and Math 1140, 1150. Up to 15 credits of coursework with the grade of D are allowed to meet the minor requirements but no more than 5 credits of these D credits are allowed in management or economics courses and all D credits must be offset by an equivalent number of credits of A or B. Required courses may not be taken S-N unless only offered S-N.

Course Descriptions

Mgmt 1200. Business and Society. (E4; 5 cr; offered when feasible)

Forces and patterns in the business-society relationship, complex interrelationships among business, government, and society in changing environments; business ethics and ideologies with changing values in society.

Mgmt 1211f,w. Principles of Accounting I. (5 cr; prereq soph status or #)

Recording, summarizing, interpreting, and reporting of economic data as it flows through the accounting cycle. Accrual, double-entry system used in producing financial statements for a merchandising and/or service business organized as a sole proprietorship.

Mgmt 1212w,s. Principles of Accounting II. (C2; 5 cr; prereq 1211 or #)

Continuation of 1211. Emphasis on alternative methods of evaluation for asset, liability, and owner's equity accounts. Partnership and corporation business organizations. Current issues in financial reporting.

Mgmt 3200f. Financial Management. (5 cr; prereq 1212, Econ 1101, Math 1150 or 3605 or #)

Financial analysis, theory, and practice, including leverage, capital budgeting, cost of capital, dividend policy, capital market theory, and working capital management.

Mgmt 3205w. Investment Analysis and Management. (5 cr; prereq 1212, Math 1150 or 3605 or #; not offered 1998-99)

Economic and investment environment as it relates to security investment decisions; appraisal of investment characteristics; introductory investment analysis of various stocks and bonds. Determination of investment objectives and execution of portfolio policies for various types of individual and institutional investors.

Mgmt 3211. Intermediate Accounting I. (5 cr; prereq 1212 or #; offered when feasible)

Accounting principles and postulates for income determination and for valuation. Includes measurement problems and funds concepts.

Mgmt 3212. Intermediate Accounting II. (5 cr; prereq 3211 or #; offered when feasible)

Continuation of 3211. Concepts and problems in accounting for specific assets and equities.

Mgmt 3213. Managerial Accounting. (5 cr; prereq 1212 or #; offered when feasible)

Using accounting data for planning, controlling, and decision-making processes of management. Emphasis on cost behavior, product costing, cost-volume-profit relationships, budgeting and control through standard costs, and other quantitative techniques used by management.

Mgmt 3215s. Managerial Economics. (C2; 5 cr; prereq Econ 1101, 1102, Math 1140, 1150 or 3605, Mgmt 3240 or #)

Applies and extends economic theory and decision science methodology to solve managerial decision problems. Topics may include but are not limited to demand analysis and forecasting, technological change, industrial innovation, market structure, strategic behavior, pricing, risk analysis, capital budgeting, government-business relations, and the global economy.

Mgmt 3220w. Management and Organization Theory. (5 cr; prereq 1212, Econ 1101 or #)

Concepts, theory, research, operations analysis, and management science. Principal functional areas of management. Factors and relationships necessary to achieve organizational objectives. Establishment of goals, policies, procedures; the planning process; control systems; organizational structure and behavior; leadership.

Mgmt 3225s. Labor Management Relations. (5 cr; prereq Econ 1101 or #)

Economic and institutional aspects of collective bargaining. Attitudes and policies of unions and management, negotiation and grievances, wages and economic security plans, public policies toward collective bargaining.

Mgmt 3230. Marketing Principles and Strategy. (5 cr; prereq 1212, Econ 1101, Math 1150 or 3605 or #; offered when feasible)

Basic factors affecting policy and strategy issues in marketing. Economic, legal, behavioral, environmental, ethical, competitive, and technological factors as they affect product, pricing, promotion, and marketing-channel decisions.

Mgmt 3240w. Management Science. (C2; 5 cr; prereq 3220, Math 1150 or 3605 or #)

Application of quantitative methods to decision making and planning in business and economics. Topics may include but are not limited to linear mathematical programming, forecasting and other probabilistic techniques, inventory management under conditions of certainty and uncertainty, and network models.

Mgmt 3251s. Business Law. (5 cr; prereq jr or sr or #)

Basic principles. Essentials of the law of contracts, agency, sales, negotiable paper, partnerships, corporations and bankruptcy, real property, insurance, tort, wills, and estate; and effects of federal regulation.

Mgmt 3700. Topics in Management. (1-5 cr; repeatable with #; prereq #; offered when feasible)

Topic to be announced.

Mgmt 3750. Topics in International Business and Finance. (5 cr; repeatable with #; prereq #; offered when feasible)

Topic varies. Emphasizes current literature and research in areas of international business and finance: multinational firms, international marketing and management, balance of payments, exchange rates, and interrelations of international and domestic financial markets.

Mgmt 3800. Applied Management Research: Field Study and Projects. (1-15 cr per qtr; max 5 cr may be applied to the major or minor; prereq #; S-N only; offered when feasible)

Guided field research and tutorial sessions. Research includes case studies of small businesses, paid internships sponsored by business or government organizations, and other applied projects approved by the faculty.

Mgmt 3950f, 3951w, 3952s. Directed Study. (1-5 cr per qtr; prereq #)

Mgmt 3960Hf, 3961Hw, 3962Hs. Senior Honors Project. (1-5 cr per qtr; prereq participation in Honors Program, #)

A substantial scholarly or creative work (at the undergraduate level) within the discipline. Successful completion of the senior honors project is one of the requirements for graduating from UMM "with honors."

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