Business (Major, Minor)
Pamela O'Brien, Ph.D., Dean, School of Arts, Sciences and Business
Leslie A. Korb, Ph.D., Chair
Ademar Bechtold, Ph.D.
Lawrence Beyer, C.F.A., M.B.A.
Charles E. Yoe, Ph.D.
Degrees offered
Minor
Campuses
Online
The Business and Economics Department offers a major in Business to students in the traditional undergraduate program, College of Adult Undergraduate Studies, and NDMU Online. It also offers majors in International Business and Marketing Communications in the traditional undergraduate programs. Minors in Business, International Business and Entrepreneurship are offered in the traditional undergraduate and College of Adult Undergraduate Studies. The Business major includes a broad range of courses that provide the student with a strong foundation of knowledge in business and economics within the liberal arts curriculum. In addition to gaining a thorough understanding of core business concepts, students are taught to act ethically, think critically and creatively, and communicate effectively.
Summary
The Program of Study in Business is designed to ensure all Notre Dame Business graduates meet the following core competencies identified by major employers in the Baltimore/Washington corridor:
- Integrate quantitative and qualitative skills to solve problems and support decision-making,
- Demonstrate effective leadership skills in a team environment,
- Communicate effectively in all business environments with different types of media, and,
- Use technology to enhance business productivity and the quality of decision-making
Graduates of the Business Program of Study work in a variety of fields such as accounting, banking, marketing research, project and product management, human resource management, health care administration, nonprofit management, information systems, marketing, portfolio management, investments, law and many types of entrepreneurial adventures.
The Academic Program in Business
Undergraduate Degree
The undergraduate Business degree is offered in three instructional formats.
- 16-week traditional semester - primarily face-to-face class meetings with up to 25 enrolled students.
- 8-week hybrid course format in weekday evenings from 6:00 pm - 8:45 pm - combining eight face-to-face class meetings along with additional learning online. Class sizes vary.
- 8-week totally online course format - Students rarely required to be online synchronously. Class sizes do not exceed 20 students.
Courses
Class sizes are small and interactive. NDMU faculty are committed to helping students succeed and value greatly student experiences and contributions. Students should expect their thinking to be challenged in a productive and respectful manner. Per Federal guidelines and university policy, each 3 credit course, regardless of course length or format, involves a minimum of 37.5 hours of instruction and at a minimum of 75 hours of student work outside of class time.
Please note: A grade of C or better is required for all courses in the Business major or Business minor. Transfer students must complete a minimum of five course in the Business Major regrdless of the number of credits accepted in transfer.
Students are strongly urged to complete their Math requirement early in their college career because of the quantitative nature of many Business courses.
Foundational Business Courses
The foundational Business Courses that students should take are BUS-202 Principles of Management, BUS-203 Principles of Marketing, BUS-253 Financial Accounting, BUS-254 Managerial Accounting, BUS-304 Legal Environment of Business, BUS-310 Professional Communications, BUS-321 Corporate Financial Management, BUS-350 International Business, ECO-211 Introduction to Macroeconomics and ECO-212 Introduction to Microeconomics. [30 credits]
These courses provide a theoretical and practical/skills approach to Management. Additional skills are taught in BUS-360 Business Research, BUS-334 Teamwork and Negotiation, BUS-225 Data Analysis I and BUS-325 Data Analysis for Business Decisions II, BUS-400 Leadership, BUS-432 Advanced Business Policy, and BUS-461 Business Practicum.
Advanced Business Policy and Practicum
These two courses (BUS-432 and BUS-461) enable students to apply the knowledge and skills learned throughout the degree program to strategic issues in business management and in the workplace. The successful completion of Advanced Business Policy, the capstone course, is required of all business majors and should be taken during the student's last semester of study. The four-credit practicum course is required for all business majors who do not have at least two years of full-time professional work experience. The practicum includes a 120-hour internship. [3 to 7 credits]
Business Elective Courses
Students complete their degree requirements either by completing courses for a concentration in accounting, or by completing at least two 400-level Business Elective courses. The upper-division elective courses challenge students to address complex business problems in a chosen field of interest such as finance, management, marketing, international business and human resource management. Students are required to complete two business elective course but are encouraged to take additional business electives if possible. [6 credits]
Accounting Concentration Through Loyola
Intermediate and advanced accounting courses are offered for those students interested in preparing for the Certified Public Accountants (CPA) exam through an agreement with Loyola University. After completing introductory Accounting courses (BUS-253 and BUS-254) at Notre Dame of Maryland, Business students must complete 12 credits of intermediate and advanced accounting courses to fulfill their accounting concentration requirements. The Accounting concentration does not prepare a student adequately to take the CPA exam. Additional credits may be earned by applying to and registering for the Masters in Accountancy program through Loyola. [12 credits]
Business Minor
The Business and Economics Department works closely with students in other majors interested in a Minor in Business. Students with a Business minor are better prepared to understand and respond to the business environment in which their career fields operate. Flexibility of the Business minor ensures students have the ability to choose those business courses most helpful in their career fields. The Business minor comprises six courses (18 credits) and requires the student complete at least one course in Economics and BUS-416 Managing Financial Resources. In consultation with the department chair, no more than three courses from the student's major may be applied to the completion of the Business minor. No more than nine credits may be transferred into the minor.
Five-Year Option: B.A./M.A.
The Five-year Option enables a full-time traditional undergraduate Business major or minor student to complete the Bachelor of Arts and the Master of Arts in Leadership and Management degrees in five years. A student wishing to pursue a five-year integrated program must meet with her advisor and the Chair of the Business and Economics Department before she registers for the fall semester of her senior year to plan her Program of Study and to determine program eligibility and review program requirements.
Study Abroad
Study abroad opportunities exist for all three student groups. They range from a full semester abroad to a 10-day study tour led by NDMU faculty during winter, spring or summer break.
Required Core Courses for Major in Business (Credits)
BUS-253 Financial Accounting
BUS-254 Managerial Accounting
BUS-304 Legal Environment of Business I (3)
BUS-310 Professional Communications (3)
BUS-321 Corporate Financial Management (3)
BUS-334 Teamwork and Negotiation (3)
BUS-350 International Business (3)
BUS-360 Business Research (3)
BUS-432 Business Strategy (capstone) (3)
BUS-461 Business Practicum (Required for traditional undergraduate students) (Only required for Adult Undergraduate & NDMU Online when student has less than 2 years of full-time professional experience) (4)
ECO-211 Introduction to Macroeconomics (3)
ECO-212 Introduction to Microeconomics (3)
ECO-402 Money and Banking (3)
Business majors must fulfill the General Education requirement, Investigating through Scientific and Quantitative Reasoning with either MAT-100 Algebra Applications, MAT-103 Applied Algebra, MAT-107 Elementary Functions or MAT-211 Calculus I. Calculus I is the preferred Math course for Business majors.
Students are required to complete either the accounting concentration or at least two of the 400-level business elective courses listed below.
Accounting Emphasis (12 Credits)
This emphasis begins with BUS-253 and BUS-254 taken at Notre Dame of Maryland University. The following courses must be taken at Loyola University of Baltimore.
BUS-337 Intermediate Accounting I (3)
BUS-338 Intermediate Accounting II (3)
Select a minimum of two courses from the following:
BUS-305 Legal Environment of Business II (3)
BUS-335 Cost Accounting (3)
BUS-340 Tax Accounting (3)
BUS-341 Corporate Tax Accounting (3)
BUS-412 Auditing (3)
BUS-421 Advanced Accounting Theory I (3)
Please note: Students may need additional courses to qualify to sit for the CPA exames.
Business Electives (6 Credits)
BUS-406 Leading Innovation and Change (3)
BUS-436 Socially Responsible and Sustainable Business Practices (3)
BUS-463 Independent Study in Business (1-4)
BUS-480 Organizational Behavior (3)
BUS-482 Consumer Behavior (3)
BUS-486 Human Resources Management (3)
Four-Year Plan
Below is a sample Program of Study for the Business Major. Business Majors sould take BUS-202 Principles of Management, BUS-203 Principles of Marketing, ECO-211 Macroeconomics, ECO-212 Microeconomics, BUS-253 Financial Accounting and BUS-254 Managerial Accounting before any other courses in their major.
Students should select courses with the assistance of a faculty advisor. However, it is recommended that students fulfill thier Math requirement during their first year.
See Course Description for prerequisites and corequisites.
Fall | Spring | ||
---|---|---|---|
First year | |||
NDMU-100 First Year Seminar | 3 | BUS-334 Teamwork and Negotiation | 3 |
ECO-212 Microeconomics | 3 | ECO-211 Macroeconomics | 3 |
ENG-101 College Writing | 3 | BUS-203 Principles of Marketing | 3 |
BUS-202 Principles of Management | 3 | Foreign Language (if required) | 3 |
Foreign Language | 3 | General Education/Electives |
3 |
[15 credits] | [15 credits] | ||
Second year | |||
BUS-253 Financial Accounting I | 3 | BUS-254 Managerial Accounting II | 3 |
BUS-310 Professional Communications | 3 | BUS-325 Data Analysis for Business Decisions II | 3 |
BUS-225 Data Analysis for Business Decisions I | 3 | General Education/Electives |
9 |
General Education/Electives | 6 | ||
[15 credits] | [15 credits] | ||
Third year | |||
BUS-304 Legal Environment of Business I | 3 | BUS-360 Business Research | 3 |
BUS-321 Corporate Financial Management | 3 | BUS-400 Leadership | 3 |
General Education/Electives | 3 | Business Elective | 3 |
Gen. Ed./Electives and/or Accounting concentration and/or Business electives | 9 | Gen. Ed./Electives and/or Accounting concentration and/or Business electives | 6 |
[15 credits] |
[15 credits] | ||
Fourth year | |||
BUS-350 International Business | 3 | BUS-432 Business Strategy | 3 |
BUS-461 Business Practicum | General Education/Electives |
12 | |
ECO-402 Money and Banking |
3 | ||
Business Elective or Accounting Concentration | 3 | ||
General Education/Electives | 6 | ||
[15 credits] | [15 credits] |
Note: Business electives in management, marketing, finance, international business or human resources management may be taken in junior year if prerequisites are completed.
Accreditation
Accreditation Council for Business Schools & Programs (ACBSP)
ACBSP promotes excellence in business education. It focuses on strong student learning outcomes and teaching excellence.
Courses
BUS-105 Create Your Future: Introduction to Business and Entrepreneurship
BUS-202 Principles of Management
Examines organizational, human resources, operational, and functional aspects of ethically managing activities of diverse workforces in organizational settings. Analyzes traditional managerial functions of planning, organizing,leading and controlling within the context of changing demands in orgsnizations that compete effectively in an interconnected, global environment. [ 3 credits ]
BUS-225 Data Analysis for Business Decisions I
Emphasizes the foundation areas of data management, interpretation, and analysis. The course focuses on methods tomanage and explain data, describe and interpret data quantitatively using statistical techniques, and apply the results to make better management decisions. Data Analysis involves using statistical methods to understand and interpret data acquired in business applications. In this course students will learn techniques to manage data using Excel tools, explain data through charts and graphs, and describe and interpret data in probabilistic terms. [3 credits]
BUS-253 Financial Accounting
BUS-253W Workshop: Financial Accounting
BUS-254 Managerial Accounting
BUS-255 Personal Financial Management
BUS-303 Principles of Marketing
This course introduces the language of the strategic marketing process. While formulating viable marketing strategies for diverse business situations, learners will gain experience gathering and analyzing industry and market data, as well as implementing core-marketing concepts such as market segmentation, targeting, positioning,and the marketing mix in the formulation and implementation of real-world marketing strategies. This course culminates in the development of a marketing plan for a new product, service or retail establishment. [ 3 credits ]
BUS-304 The Legal Environment of Business I
Explores the legal environment of business, including contracts, implications of the Constitution and our structure of government, sales and employment law, legal substitutes for money, consumer and creditor protection including bankruptcy, and types of business organizations. Focuses on the implications of law for the business leader and practical ways to track changes in the law. Prerequisite: BUS-202 or equivalent. [3 credits]
BUS-305 The Legal Environment of Business II
BUS-310 Professional Communications
Explores communications contexts within organizations and refines written and oral communications skills used in business and professional settings. Emphasizes appropriateness, effectiveness, and nuance while taking into consideration situation, audience, and delivery mode. Learners use common business communications tools and technologies as well as social media. Prerequisite: ENG-101 or NDMU-100 (honors section). [ 3 credits ]
BUS-321 Corporate Financial Management
BUS-325 Data Analysis for Business Decisions II
Investigate and employ inferential statistical techniques frequently used to inform business decision-making. Students will examine, in depth, the uses, calculations, limitations, and business applications of interval estimation and sample size, hypothesis testing, and regression analysis. Prerequisite BUS-225 [ 3 credits ]
BUS-327 Prof Selling & Negotiation
BUS-334 Teamwork and Negotiation
Analyzes the dynamics, structure and function of teams in businesses and other organizations. Examines the framework and components of conflict resolution and negotiation in both organizational and personal situations. Learners will assess and strengthen key interpersonal skills. This course utilizes active learning pedagogy extensively including role plays, small group exercises, and simulations. [3 credits]
BUS-335 Cost Accounting
Introduces cost data as a tool for management decisionmaking. The course provides an in-depth examination of volume-profit analysis, budgeting, job order costs and variance analysis. Prerequisite: BUS-254. [3 credits]
BUS-337 Intermediate Accounting I
Covers collecting, adjusting and presenting of accounting information. Emphasizes understanding published financial statements and developing a framework for analyzing a wide variety of financial reporting issues. Students examine topics including cash, short-term investments, receivables, payables, inventories, and operational assets and liabilities. Prerequisite: BUS-254. [3 credits]
BUS-337L Lab: Intermediate Accounting I
Lab is only for classes taken at Loyola University through the Baltimore Student Exchange Program. [ 1 credit ]
BUS-338 Intermediate Accounting II
BUS-340 Tax Accounting
Focuses on federal tax laws as they apply to the individual. Introduces gross incomes and exclusions, tax determination, passive activity losses, itemized deductions, tax credits and property transactions. Students examine tax planning considerations and tax avoidance techniques. Prerequisite: BUS-254. [3 credits]
BUS-341 Corporate Tax Accounting
Focuses on federal tax laws as they apply to corporations, S corporations, partnerships and estates. Students examine tax analysis and determination for management decisionmaking, filing requirements for estates and trusts, and choosing an entity selection to minimize tax liability. Prerequisite: BUS-254. [3 credits]
BUS-350 International Business
Critically analyzes factors affecting business operations in the global marketplace. Introduces theories and practical strategies for evaluating constraints and opportunities resulting from economic, cultural, legal, and ethical differences to political and financial realities at home and abroad. Provides hands-on opportunities for analyzing international business opportunities, developing international competitive strategies, and for comparing and contrasting different entry modes. Prerequisites: ECO-211 or ECO-212. Fulfills general education requirement in cross-cultural studies. [3 credits]
BUS-360 Business Research
BUS-380 Introduction to the U.S. Health Care System
Introduces the student to the organization and structure of the U.S. health care system, including institutions, health care professionals and government programs that influence the delivery of health care services. The student is also introduced to policy issues relating to access, efficiency and quality of health care services. [ 3 credits ]
BUS-400 Leadership
BUS-401 Entrepreneurship I
BUS-402 Entrepreneurship II
Continues the progression set forth in Entrepreneurship I by teaching students the process for developing a comprehensive business plan for an entrepreneurial start-up endeavor. Additionally, students will be assigned a successful entrepreneur from the student's field of interest to serve as their mentor throughout the semester. Students will learn how to prepare a financial plan. They will analyze actual business agreements to gain familiarity with the language of and issues contained in those documents. Students will build marketing competencies essential to building and sustaining a new venture, such as how to identify customer needs, determine correct target markets and develop sales/marketing tactics and strategies. Students will also prepare and deliver an oral presentation of their plan from the perspective of an entrepreneur presenting to potential investors. Prerequisite: BUS-401. Corequisite: BUS-416 or BUS-321 or permission of chair. [3 credits]
BUS-406 Leading Innovation and Change
BUS-411 Topics in Business
Explores contemporary topics in business such as non-positional leadership, leadership's dark side, managing human capital, healthcare and sports marketing. [3 credits]
BUS-412 Auditing
BUS-416 Managing Financial Resources
Provides students with an overview of the accounting and financial tools necessary for managers. Addresses the development and analysis of basic financial statements, the development of budgets (both operating and capital), and other techniques of financial analysis for management decision-making. Prerequisite: general education mathematics requirement. Business majors may not take this course; students who have taken BUS-255 may not take this course. [3 credits]
BUS-421 Advanced Accounting Theory I
BUS-427 Business Study Tour
BUS-432 Business Strategy
Provides opportunities for students to apply knowledge gained from their core business courses to the formulation, implementation and evaluation of strategic management initiatives through case studies of specific organizations. Designed as a capstone experience. Prerequisites: BUS-202, BUS-203,BUS-304, BUS-321, ECO-211, ECO-212, BUS-225. BUS-325,and senior standing; major only. [3 credits]
BUS-436 Socially Responsible and Sustainable Practices
Studies and analyzes the increasing pressures on organizations to make the right decisions by acting in ways that benefit society and reduce negative environmental impacts. Students will complete research on organizations that use sustainable and responsible models; utilize case studies to identify current and best practices; and develop guiding principles for decision making. [3 credits]
BUS-442 International Finance
BUS-450 International Business Capstone: Exporting and Importing
Integrates learning from business courses, courses from other departments and real world experiences through the completion of a capstone projects. Students will be given the option to work with a client or to create an international business report. Students that choose to work with a client will develop an international business strategy and write a business plan for a specific initiative related to trade, production or investment in one or more foreign countries. The student will prepare a business report and present it to the client. Students that choose to create an international business report will conduct research to evaluate the aspects of globalization of markets, production, and/or investment in a selected foreign country. At the end of the semester, the student will prepare a report and present it to students, faculty, and guests at Notre Dame. Prerequisites: BUS-302, BUS-303, BUS-321, BUS-350 and co-requisite BUS-442. [3 credits]
BUS-451 Women in Leadership
Evaluates opportunities, issues and complexities that women face in the workplace. Analyzes differences between gender style and content in communications and behavior; critiques societal expectations of women and men in the workplace and in leadership roles; connects management and leadership precepts through the lens of gender; examines leadership attributes through nontraditional sources. Cross-listed as a graduate course to promote co-mentoring and networking. Prerequisite: Junior standing or permission of chair applies to traditional undergraduate students only. Fulfills general education requirement in gender studies. [3 credits]
BUS-460 Coached Emerging Leadership Practicum
Provides students the opportunity to gain meaningful leadership learning experience in an organized and structured format. Eligible traditional undergraduate students would be those who either hold or will hold a leadership role in campus club life, such as student government, clubs and sports teams, or in their communities, such as church or local community associations. CAUS students need to seek a leadership opportunity at their places of work or in their communities in order to be eligible. Focus is on the students emerging leadership experience as it unfolds during the activity, which should be documented using a variety of assignments. Course credit will be given based upon the amount of time the activity requires during the course of a semester, e.g., one credit for 30 hours, two credits for 60 hours, and three credits to 90 hours. Prerequisites: One of the following courses: BUS-400, BUS-406, BUS-451, NUR-432, POL-217 or POL-462 and Junior/Senior status. The leadership course prerequisite may be fulfilled by enrolling in BUS-460W. This workshop will consist of weekly seminars wherein contemporary readings on leadership will be assigned, discussed and evaluated. On successful completion, one additional credit will be awarded in conjunction with the one, two or three credit level initially assigned to the activity. Variable credit 1, 2, 3 ]
BUS-460W Workshop: Coached Emerging Leadership Practicum
For students who have not had leadership instruction in one of their courses, this Leadership Workshop is a required co-in requisite to be taken along with BUS-460, Coached Emerging Leadership Practicum. This workshop will consist of weekly seminars wherein contemporary readings on leadership will be assigned, discussed and evaluated. On successful completion, one additional credit will be awarded in conjunction with the one, two or three credit level initially assigned to BUS-460. [ 1 credit ]
BUS-461 Business Practicum
Connects academic learning with professional experience. Develops and reinforces business related skills, especially those needed by women in business today. Provides peer support to discuss and reflect on work-related issues. Students examine individual strengths and areas for improvement. Required for traditional undergraduate students. Required for CAUS and NDMU Online students with less than 2 years of FT professional work experience. Prerequisites: Business major with senior standing and permission of instructor. [4 credits]
BUS-463 Independent Study in Business
BUS-480 Organizational Behavior
Examines the factors affecting human behavior in organizations. Students apply relevant theories to contemporary organizational problems through the use of case analyses, readings and experiential exercises. The course focuses on developing analytical frameworks to describe and assess organizational culture, structure, leadership, ethics, change, decision making, power and political processes. Prerequisite: BUS-202. [3 credits]
BUS-482 Consumer Behavior
Investigates consumer and organizational buyer behavior theory and its impact on the formulation of marketing strategy. Provides students with an opportunity to examine current buyer behavior theory including digital behavior and its use by marketers to influence consumers. Through the analysis of case studies, a thorough examination of current empirical buyer behavior research, students will design, implement and analyze buyer behavior mini-research projects. This class is designed as an interactive, collaborative seminar. Prerequisite: BUS-203, Principles of Marketing or permission of chair. [3 credits]
BUS-483 Integrated Marketing Communications
BUS-484 Investment Management
BUS-485 Advanced Financial Management
BUS-486 Human Resource Management
BUS-487 Advanced Topics in Human Resource Management
CST-171 Programming Concepts
Introduces computer programming using the Python programming language. Emphasizes logical approaches for algorithmic solutions to solve realistic applications. Explores programming structures such as decisions, repetitions, sub procedures, functions, and arrays using program design with object-oriented concepts. Introduces a variety of program types to meet various business needs. Fulfills the general education requirement of thinking critically and analytically. [ 3 credits]