The University Senate of Michigan Technological University

Proposal 12-09
(Voting Units: Academic)

 

A Proposal for a Name Change in an Academic Program from “B. S. in Business Administration with a Concentration in Finance” to “B. S. in Finance”

 

1. . Program Description

The proposed Finance B.S. degree to be offered by the School of Business and Economics (SBE) is a spin-off of the current Bachelor of Science Degree in Business Administration (BSBA) with a Finance concentration. The proposal is to award a B.S. with a major in Finance. The BSBA was initiated at Michigan Technological University on February 25, 1955. Graduates are prepared for careers in industry, consulting, nonprofit management, or government. The BSBA currently offers concentrations in six areas:  Accounting, Finance, Management, Marketing, Management Information Systems and Operations and Systems Management. All students in the BSBA program take a common set of core courses.  The curriculum develops strong quantitative and analytical skills which prepare students for the constantly changing demands of a technology-oriented society, as well as the teamwork, leadership and planning skills needed to excel in organizations. The curriculum offers a strong foundation in science, mathematics, humanities, social sciences, and computer science during the first two years, a comprehensive common core of business and economics courses during the third year, and a focused concentration in a field of business during the fourth year.

2. Rationale

SBE graduates are currently labeled and marketed as having a degree (B.S.) with a major in business administration (BA), hence the BSBA degree. Thus, many of the SBE students who have a Finance concentration are unlikely to capture the attention of prospective employers. Having a B. S. degree with a major in Finance adds credibility and recognition to the B. S. degree and is consistent with other Michigan universities (Related Programs). We anticipate that having a Finance major will increase job placement rates at graduation.

3. Related Programs

Central Michigan University: Finance Major

Eastern Michigan University: BBA Finance Major

Ferris State University: BS Finance Program

Grand Valley State: BBA Finance Major

Michigan State University: Finance Major

Northern Michigan University: Finance Major

Oakland University: Finance Major

Saginaw Valley State University: BBA Finance Major

University of Michigan- Ann Arbor: BBA Finance Concentration

University of Michigan- Dearborn: BBA Finance Concentration

University of Michigan- Flint: BBA Finance Concentration

Wayne State University: BBA Finance Major

Western Michigan University: Finance Major

 

4. Projected Enrollment

Currently, we have 47 students seeking a Finance concentration. Adopting a Finance major should increase this number due to higher job placement rates.

5. Scheduling Plans

The Finance B.S. will be a regular on-campus program offering.

6. Curriculum Design

The Finance B.S. retains the curriculum design currently in place for the BSBA with a Finance concentration.  Two GPAs will be calculated:  a cumulative (overall) GPA and a School GPA consisting solely of Business Administration (BA) and Economics (EC) courses.

Required CORE Courses

BA 1100         Introduction to Business                     3         

BA 1200         IS/IT Fundamentals                           3         

BA 2110         Quantitative Problem Solving             3         

BA 2330         Accounting 1                                      3         

BA 2340         Accounting 2                                      3         

BA 2500         Business Law                                      3         

BA 2700         Business Problem Solving                   3         

BA 3200         IS/IT Management                              3         

BA 3400         Principles of Finance                           3         

BA 3610         Operations Management                     3         

BA 3700         Organizational Behavior                     3         

BA 3800         Principles of Marketing                       3         

BA 4700         Strategic Management                        3         

EC 2001          Principles of Economics                      3         

EC 3300          Industrial Organization                       3         

                                    Credit Total                           45

Required Courses within major

BA 4400         Investment Analysis                           3         

BA 4410         Advanced Financial Management      3         

EC 4400          Banking and Financial Institutions     3         

BA 4460         Derivatives and Financial Engineering 3       

                        Credit Total                                       12

                                   

Select 21 credits below. At least 2 courses must come from each group.

Finance Electives

BA 4450         Special Topics in Finance                    3         

BA 4470         Applied Portfolio Management          3 - 6    

BA 4480         Global Finance                                    3         

BA 4490         Personal Financial Planning                3         

                        Credit Total                                       6-15

Business and Economics Electives                             

BA 3300         Accounting Theory/Practice I             3         

BA 3310         Accounting Theory/Practice II           3         

BA 3320         Managerial/Cost Accounting I            3         

BA 3780         Entrepreneurship                                 3         

BA 3900         Business Internship                             1 - 4    

BA 4310         Foundations of Taxation                     3         

BA 4600         Management of Technology & Innovation     3         

BA 4800         Business Research                               3         

BA 4880         Sales and Sales Management              3         

EC 3002          Microeconomic Theory                       3         

EC 3003          Macroeconomic Theory                      3         

EC 3030          Game Theory/Strategic Behavior        3         

EC 3500          Public Economics                                3         

EC 4200          Econometrics                                      3

                        Credit Total                                       6 - 15

Mathematics requirements

(MA 1030, College Algebra I and MA 1031

College Algebra II with Trig, or MA 1032

Data, Functions, & Graphs Plus)                                4 - 6    

and

(MA 1135, Calculus for Life Sciences or MA 1160

Calculus with Technology I)                                       4

and

MA 2720         Statistical Methods                             4         

                                    Credit Total                           12 -14

Lab Science Requirement

BL / Biology , CH / Chemistry , FW / Forestry, GE / Geology , PH / Physics

                                    Credit Total   3-4

General education requirements

UN 1001                     Perspectives                            3         

UN 1002                     World Cultures                       4         

UN 2001                     Revisions                                 3         

UN 2002                     Institutions                              3         

EC 3100                      International Economics         3

Humanities, Arts and Social Science Courses            12

                                    Credit Total                           28

Free Electives                                                              4-11

Total credits required 128.

7. New Course Descriptions

No new courses are being submitted as part of the proposed change.

8. Library and other Learning Resources

The support of the J. R. Van Pelt and John and Ruanne Opie Library is currently sufficient.

9. Computing Access Fee:

A basic computing access fee is paid by all SBE students and will continue under this major.

10. Faculty Resumes

School of Business and Economics faculty resumes are found at http://www.sbe.mtu.edu/cv/

11. Available Needed Equipment

All equipment required exists within the SBE labs and classrooms.

12. Program Costs

No new costs are expected because the proposed change is a spin-off of an existing degree.

13. Space

No new labs, classrooms or faculty space is required.

14. Polices, Regulations and Rules

None are required. 

 

15. Accreditation Requirements

The BSBA is accredited by AACSB International. The process and criteria for maintaining accreditation is unaffected by the proposed change. The Finance, B. S. will be automatically accredited and subjected to periodic review by AACSB.

16. Internal Status of Proposal

Faculty School of Business and Economics,                          date approved 3/20/2009

Dean School of Business and Economics,                              date approved 3/20/2009

Provost,                                                                                   date approved

University support units                                                          date approved

University senate,                                                                   date approved

Academic Affairs Officers,                                                    date approved

Board of Control                                                                    date approved

17. Planned Implementation date

Fall semester 2009.

 

Introduced to Senate: 01 April 2009
Adopted by Senate: 15 April 2009
Approved by Administration: 22 April 2009
Approved by BOC: 16 July 2009