RobertG.MerrickSchool of Business

Curriculum Committee

Recommendations for Undergraduate Concentrations

For submission to the Merrick School Faculty Senate Executive Committee

6 March 2003

The MSBCC met on Friday, 28 February 2003 to review the results of the divisional review and proposals for of all undergraduate specialization options. Several requests for revision and elaboration were made at that time. The committee met with the Executive Council on Monday, 3 March 2003 to present its findings to that body. The committee again met on Wednesday, 5 March 2003 to receive final recommendations from the divisions. We are pleased to provide you with final copies of the (in some cases just received) final versions of undergraduate specialization proposals.

The following concentrations and certificates have been recommended for removal by their divisional faculty and the MSBCC concurs and so recommends. Corresponding courses to be eliminated are listed below each concentration:

  • Economics Concentration (EFMS)
  • ECON 301
  • ECON 303
  • ECON 412
  • ECON 497
  • ECON 499, as a procedural matter this independent study course will be retained but will not be required in any concentration.
  • Certificate In Computer Information Systems (MIS)
  • Business Operations Specialization (M/M)
  • MGMT 497 Project in Business Operations

Changes in requirements for the following concentrations have been recommended by their divisional faculty and approved by the MSBCC.

  • Concentration in Finance as revised (see attached proposal)
  • Concentration in Accounting (see attached proposal)
  • Concentration in Entrepreneurship
  • The concentration in Entrepreneurship is to be administered by a team of faculty drawn from across divisions based on their interest in the program. The faculty team will designate one member to work with the associate dean to resolve and coordinate issues of scheduling.
  • It was recognized by the committee that Entrepreneurship is a cross-functional discipline and that it should retain its course designations as ENTR.
  • The entrepreneurship concentration will require fifteen credits, beginning with the current introductory course entitled ENTR 300. The content of this course may be redesigned to fit into the core, as indicated in another document. The course ENTR 430 will be retained and cross listed as an upper level finance elective(FIN 430). ENTR 320 will be retained and cross listed with MKTG 420. ENTR 330 will be retained and cross listed with MKTG 450. The course descriptions and titles will reflect the cross-listing and be the same for each pair of courses.
  • The capstone course, ENTR 450, will be retained and revised to include the writing of a business plan as the capstone activity.
  • The Entrepreneurship team will meet within two weeks to finalize the proposal for presentation to the Faculty Senate on 11 April 2003.
  • B.S. in Business Administration Degree.
  • Current requirements are:
  • One course from each of three areas, denoted by different course abbreviation codes, e.g. ACCT, BULA, ECON, ENTR, FIN, INSS, MGMT, MKTG, OPRE.
  • Two additional 400 level business courses
  • Approval of the customized specialization plan by the Associate Dean.
  • The new requirements would be:
  • Three courses chosen from three different areas from among: ACCT, BULA, ECON, ENTR, FIN, INSS, MGMT, MKTG, OPRE..
  • Two additional 300 or 400 level courses in the Merrick School of Business
  • Concentration in International Business
  • A proposal was submitted by the TIGER Team. The proposed program calls for 12.0 credit hours. They propose no change to the two required courses (MGMT 465 and ECON 409).
  • They propose a change in the elective requirements. Currently, the students choose three courses from the following group:
  • FIN 433
  • INSS 445
  • MKTG 407
  • and approved electives including MGMT 497 or Global Practicum MGMT 496
  • The new proposal allows students to choose two from the following list:
  • FIN 433
  • INSS 431
  • MKTG 407
  • MGMT 496
  • MGMT 497 and approved independent study.
  • The MSBCC recommends that the TIGER team amend its program to include three rather than two electives, making it a 15.0 credit hour program.
  • The MSBCC recognizes that the concentration in International Business is a cross-functional specialization. The MSBCC recommends that the program be administered by a team of faculty chosen from across divisions based on their interest in the program. The committee further recommends that the TIGER team be this group, and that it designates one member to work with the associate dean to resolve and coordinate scheduling and other programmatic issues.
  • BS in MIS and the Concentration in CIS (See attached proposal)
  • Concentration in Marketing(see attached proposal)
  • Concentration in Human Resource Management (see attached proposal)
  • Concentration in Management (see attached proposal)

Attachment I

Concentration in Accounting

From:Lourdes White, accounting division curriculum sub-committee

To:MSB curriculum committee

Re.:Undergraduate program proposal

Date:Mar 3, 2003

Below is a compilation of recommendations from the curriculum subcommittee of the accounting division (Phil Korb, Susan Lynn, and Lourdes White), following the charges of the MSB curriculum committee to the divisions regarding the undergraduate program.

1.The B. S. specialization in accounting should be retained. The B.S. specialization in accounting prepares students for entry-level positions in accounting. It provides the needed prerequisites for entry into the M.S. in Accounting and Business Advisory Services program. The bachelor's program with a specialization in accounting is designed to provide the foundation for a variety of alternative career paths in the accounting profession. The required course work provides the foundation for employment in the public, private, governmental, or other not-for-profit sectors. Additionally, the course of study forms the basisfor achieving certification through completion of one or more of the certification examinations available to accounting professionals, including (but not limited to) the Certified Management Accountant (CMA) examination, the Certified Internal Auditor (CIA) examination, and the Certified Fraud Examiner examination.

2.List all courses that will be retained, modified, or deleted:

Courses offered primarily by the community colleges:

ACCT 201 - Introduction to Financial Accounting

ACCT 202 - Introduction to Managerial Accounting

Courses to be retained and offered at UB on a regular basis:

ACCT 301- Intermediate Accounting I

ACCT 302 - Intermediate Accounting II

ACCT 306 - Cost Accounting

ACCT 310 - Intermediate Accounting III

ACCT 317 - Accounting Information Systems

ACCT 401 - Auditing

ACCT 403 - Advanced Accounting

ACCT 405 - Income Taxation

ACCT 406 - Advanced Taxation (cross-listed with ACCT 680)

ACCT 411 - Seminar in Accounting (cross-listed with ACCT 770)

ACCT 497 - Special Topics in Accounting (cross-listed with ACCT 740)

Courses to be retained to preserve flexibility:

ACCT 495 - Accounting Practicum

ACCT 499 - Independent Study in Accounting

Course to be modified:

ACCT 304 - Advanced Cost Accounting (change to 400 level)

Courses to be deleted:

ACCT 305 - Managerial Control Systems

ACCT 417 - Advanced Accounting Information Systems

3.Market-driven basis for how the accounting specialization fulfills the mission of the MerrickSchool and offers value to its constituencies:

As the MerrickSchool strives to contribute to the personal and professional growth of its students, the Accounting Division strives to prepare its students for careers as accounting professionals. The B.S. specialization in accounting prepares students for entry-level positions in accounting. It provides the needed prerequisites for entry into the M.S. in Accounting and Business Advisory Services program. AACSB standards for accrediting undergraduate accounting programs require that a B.S. in accounting degree should cover financial and managerial accounting beyond the introductory level, information systems, auditing, and taxation and should include a minimum of 24 hours in accounting. Furthermore, state and federal regulations require that candidates sitting for the Uniform Certified Public Accounting (CPA) and the Certified Management Accountant (CMA) examinations take certain courses in accounting, business, law, and general education.

4.Outline of the program:

Upper division business core: 18 hours required

MGMT 300 - Organization and Behavior I : Human Resources

MGMT 301 - Organization and Behavior II: Groups and Management

MKTG 301 - Marketing Management

OPRE 330 - Statistical Data Analysis

FIN 331 - Financial Management I

BUS XXX - Global Business Environment (new course pending approval of the senate)

Accounting specialization courses: 24 hours required

ACCT 301 -Intermediate Accounting I

ACCT 302 - Intermediate Accounting II

ACCT 310 - Intermediate Accounting III

ACCT 306 - Cost Accounting

ACCT 317 - Accounting Systems

ACCT 401 - Auditing

ACCT 403 - Advanced Accounting

ACCT 405 - Income Taxation

Elective Courses: 12 hours required

Select four of the following five courses:

OPRE 315 - Decision Science

MGMT 339 - Production Management

MGMT 475 - Business Policy

ACCT - Accounting elective

ACCT - Accounting elective

5.Rotation plan for the required (R) and elective courses:

Courses offered in Fall

ACCT 301 (R)

ACCT 302 (R)

ACCT 306 (R)

ACCT 310 (R)

ACCT 317 (R)

ACCT 401(R)

ACCT 403 (R)

ACCT 405 (R)

ACCT 411

ACCT 495

ACCT 499

Courses offered in Spring

ACCT 301 (R)

ACCT 302 (R)

ACCT 306 (R)

ACCT 310 (R)

ACCT 317 (R)

ACCT 401 (R)

ACCT 403 (R)

ACCT 405 (R)

ACCT 406

ACCT 495

ACCT 497

ACCT 499

Attachment 2

Concentration in Finance
RobertG.MerrickSchool of Business

Division of Economics, Finance and Management Science

Plan for Undergraduate Curriculum Restructuring

February 2003

From Principles to Professionalism

The (new) undergraduate curriculum for students specializing in the finance area is designed to provide a firm foundation of finance principles across the discipline with an emphasis on equipping students with a well-stocked toolbox of skills and the ability to effectively communicate in the professional setting. The cornerstone of the major program is a (new) course in Financial Modeling and Communication in which the students are taught how to use the latest information technology resources to engage in financial analysis and be able to communicate their findings to a different audiences in a variety of modes, including written memos and reports with supporting documentation, oral presentations and electronic messages. The capstone is a (new) course in building a Professional Portfolio in Finance, in which students complete a project or set of projects in areas of finance that interest them, creating output that can be taken directly into the employment markets. Our students will be well-prepared to adapt what they have learned to a variety of professional settings, entering new careers with a set of tools they can use to move on to higher levels of professional employment and education.

Motivation and Rationale

With the preponderance of business professionals possessing Master’s degrees in business and finance, the role of the undergraduate degree in preparing students for employment opportunities has changed. Employers are looking for undergraduate candidates who are well-positioned to work with technical tools such as information databases, spreadsheets and multi-media communication methods, including e-mail and internet websites. Rather than being trained as specialists, undergraduate finance majors will be better served if they have been provided with a toolbox full of skills that they can use immediately in their first professional position. In this sense they will also be ready to continue their education at the next level, where they can seek more specialized training in their chosen field, be it finance or something else.

Another factor in motivating this program is the redundancy between undergraduate and graduate specialized major courses. Since finance students going on to the MBA or MS in Finance will have the opportunity to take in-depth specialized courses, it is not necessary to provide them at the undergraduate level. Rather, it is better to provide students with the technical and analytical skills they will use to master the specialized content at the graduate level.

Program Outline and Description

Upon completion of the core prerequisite courses, at a minimum including economics, statistics, accounting and finance principles, students will proceed through a set of five required courses (15.0 credit hours) to complete the finance specialization. These courses are:

Financial Modeling and Communication (change of course Fin 332)

This course is designed to equip the students with a working knowledge of the technical methods and tools of financial analysis, as well as provide them with the ability to design and implement professional quality written, oral and electronic presentation of their results. Topics to be covered include:

-Overview of Effective Business Communication Techniques (written memos and reports, e-mail, attachments and exhibits)

-Financial Statement Construction and Analysis using Multi-Panel Spreadsheets

-Pro Forma Financial Statement Forecasting and Analysis Using Multi-Panel Spreadsheets

-Constructing Effective Exhibits for Presenting Financial Statement Analysis

-Effective Communication of Financial Statement Analysis and Planning Results

-Cash Flow Analysis and Estimation using Multi-Panel Spreadsheets

-Valuation Methods and the Use of Spreadsheet Tools in Valuation Analysis

-Effective Communication and Presentation of Valuation Results

-Corporate Financial Policy and Restructuring, including capital structure, dividend and distribution policy.

-Analysis and communication of Corporate Financial Policy alternatives

Required Intra-Disciplinary Courses (2)

Each finance major will be required to take the two following courses:

-Investments (Fin 333)

-International Finance (Fin 433)

Intra-disciplinary electives (1-3)

The division will continue to offer three elective courses from which students may choose. Students must take at least one of these courses. They may take up to three by using their upper division elective opportunities (6.0 credits). In addition to the three undergraduate electives offered by the division below, selected students may enroll in graduate electives that will be cross-listed as FIN 497 courses. Enrollment opportunities will be limited to students with a qualifying GPA or exceptional recommendation from the division faculty. The elective courses offered will be:

-Valuation (new course)

-Risk and Insurance (Fin 439)

-Entrepreneurial Organization and Finance (ENTR 430)

-Special Topics (Fin 497)

Valuation

This course is designed to provide students with advanced tools of financial analysis and valuation as applied to a variety of business restructuring and income generating asset valuation situations. The course will combine material from the current courses entitled Mergers, Acquisitions and Divestitures (Fin 480) and Real Estate Investments (Fin 437). Topics include:

  • Advanced financial statement analysis
  • Multi-parameter financial statement forecasting models
  • Advanced cash flow analysis and estimation
  • Option theory and its applications to valuation
  • Free cash flow valuation models: theory and application
  • Valuing commercial real estate investments
  • Managing commercial real estate portfolios
  • REIT’s
  • Valuing corporate restructuring transactions
  • Valuing mergers and acquisitions

Professional Finance Portfolio (New Course)

This course is designed to allow the students to construct and present a professional portfolio that demonstrates their ability to conduct analysis and present findings within their areas of interest in finance. The course will be initially built upon case analysis. Eventually it will be expanded to include practica and internships. This course will be expanded in cooperation with finance professionals and interested advisory board members and will be led (taught) by faculty mentors working in their areas of interest.

Impact on the Allocation of Resources in the RGMSB and Area Faculty

Implementation of this curriculum structure will enable the finance area to offer undergraduate major courses on a continuous and timely basis, enabling the students to progress through the program quickly and efficiently. By reducing the number of specialized courses at the undergraduate level, this program will free up faculty resources to continue offering a broad variety of specialized courses at the graduate level. At the same time this will enable us to increase the frequency of those graduate offerings, enabling the graduate students to move through their program of study more quickly and efficiently.

Rotation

Twice Annual

CourseFall D/ESpring D/E

Modeling and Communication1/00/1

Investments0/11/0

International1/00/1

Faculty required1.01.0

Once Annual

CourseYear AYear B

Risk and InsuranceF/DF/E

ValuationS/ES/D

Entrep. Org. & FinanceF/EF/D

CapstoneS/DS/E

Faculty requiredF: 0.66/S: 0.66

Total Annual Faculty Required1.66

Total Faculty resources5.25 (G. Andrea teaches 8 courses)

Percentage of Resources applied32%

Attachment 3

Concentration in International Business

Attachment 4

BS in MIS/ Concentration in CIS

Curriculum Changes Proposed by the Division of MIS

for the Faculty Senate Meeting of March 7th 2003

  1. Program Eliminations – Certificate in CIS

Given the low enrollments in the Certificate in CIS program, the division will support the elimination of the program. The program has no unique requirements, and the courses, both INSS and business, are offered every semester, however the program is old and no longer seems to be addressing a market need.

  1. Course Eliminations

The following table shows the undergraduate courses offered by the Division of MIS. The 5 courses struck out are courses the division wishes to delete, based on the infrequency of their offering.

The asterix marked next to some electives shows that they may be cross-listed with graduate equivalent courses. This will increase section sizes for these courses and maximize faculty coverage.

Course / Course Title / BSBA / BS in MIS
Number / CIS Conc.
INSS 209 / Structured COBOL / Lower level / Lower level
INSS 225 / Visual Basic Programming Language / Lower level / Lower level
INSS 300 / Management Information Systems / R / R
INSS 315 / Information Technology / R / R
INSS 327 / O-O Programming Languages / E / R
INSS 401 / Internet & Business * / E / R
INSS 406 / Systems Analysis & Design / R / R
INSS 421 / Database Management Systems / R / R
INSS 427 / Business Data Communications / R / R
INSS 431 / Electronic Commerce * / E / E
INSS 440 / End-User Support / E / E
INSS 452 / Web Server Management & CGI Prog. * / E / E
INSS 445 / Global Information Technology / E / E
INSS 454 / Operating Systems * / E / E
INSS 456 / O-O Methodologies / E / E
INSS 458 / Intelligent Support Systems / E / E
INSS 460 / Adv. Programming Languages / E / E
INSS 465 / IS Administration / E / E
INSS 490 / MIS Capstone Project / R
INSS 497 / Special Topics in IS / E / E
INSS 499 / Independent Study / E / E
  1. Individual Course changes

One of the courses to be deleted – INSS445 (Global Information Technology) – is a course within the international business concentration. In consultation with the TIGER team the Division proposes offer INSS 431 (Electronic commerce) as a replacement for INSS445 within this concentration. INSS431 presently has INSS401 (Internet and Business) as a prerequisite. In order to accommodate the needs of the concentration students, this prerequisite for INSS431 will be eliminated. The technological skills development learning objectives of the course (needed for MIS students) will be handled internal to the course via separate assessment streams.