172

Contents

Table of

Carlson School of Management

Admission .................................................................................................................. 175

Degrees ....................................................................................................................... 176

Minors ......................................................................................................................... 177

Scholastic Standards and Policies ................................................................ 177

Graduation Requirements ................................................................................ 178

Advising ...................................................................................................................... 178

Special Learning Opportunities and Resources .................................... 178

Loans and Scholarships ..................................................................................... 179

International Programs ..................................................................................... 179

Career Information ............................................................................................... 179

Student Organizations ........................................................................................ 179

Directory ..................................................................................................................... 180

Degree Programs ................................................................................................... 181Accounting ................................................................................................................................... 181

Actuarial Science ........................................................................................................................ 182Finance .......................................................................................................................................... 182General Management .............................................................................................................. 182International Business ............................................................................................................. 182Management Information Systems ..................................................................................... 182Marketing ..................................................................................................................................... 183

Risk Management and Insurance ........................................................................................ 183

This is the Carlson School of Managementsection of the 1999-2000 Undergraduate Catalogof the University of Minnesota.

174

The mission of the Carlson School of Management(CSOM) is to advance the practice of management in thecontext of a global economy with increasingtechnological and social change. To do this, the CarlsonSchool must be a leader in the development of knowledgevalued by the management profession and in the

History• Founded in 1919• Named the Curtis L. Carlson School of Management in

1986

Faculty and Staff• 80 full-time faculty, including 24 endowed faculty• 150 staff members

Alumni• 36,000 alumni• Located in 50 states, Washington D.C., and 64 foreign

countries• 67 Outstanding Achievement Awards

Rankings• Ranked 13th among all business schools and 8th among all

public business schools by U.S. News & World Report,1996

• Evening M.B.A. program ranked 9th in country by U.S.News & World Report, 1995

• M.B.A. program ranked 20th by its peers in U.S. News &World Report, 1995

• Included in Business Week’s list of top 40 M.B.A. businessschools, 1994-1997

• Ranked 15th in Business Week’s survey of M.B.A.employers

• Ranked one of 25 best business schools for entrepreneurs,Success Magazine, 1994-1995

• MIS undergraduate program ranked 1st and graduateprogram ranked 4th in country, U.S. News & World Report,1998

• MIS area ranked 1st in country by U.S. News & WorldReport, 1995

• Ranked 4th best “Techno-M.B.A. Program” in country,Computerworld, 1997

• Students entering Ph.D.-business program rank 5th, basedon GMAT test scores*

* Annual Carlson School of Management survey of 25 topPh.D.-business programs

Degrees Awarded• Bachelor of science in business (B.S.B.)• Master of business administration (M.B.A.)• Executive M.B.A. (C.E.M.B.A.)• Master of arts in health care administration (M.H.A.)• Master of arts in human resources and industrial relations

(M.A.H.R.I.R.)• Master of business taxation (M.B.T.)• Master of science in management of technology (M.S.-

M.O.T.)• Doctorate in business administration (Ph.D. Business)• Doctorate in industrial relations (Ph.D. I.R.)

1997-1998 Enrollments• 1,700 undergraduates (1,400 day; 300 evening)• 250 M.B.A. day students• 1,150 M.B.A. evening students• 40 M.H.A. day students• 90 C.E.M.B.A. students• 125 M.A.H.R.I.R. day students

dissemination of this knowledge to students, practitioners,and academia. Moreover, the Carlson School mustrecognize its responsibilities to exercise leadership infostering the intellectual and economic vitality ofMinnesota and the region through its research, teaching,and outreach programs.

• 120 M.A.H.R.I.R. evening students• 150 M.B.T. students• 60 M.S.-M.O.T. students• 75 Ph.D.-business administration students• 15 Ph.D.-industrial relations students

1997-1998 Placement StatisticsAverage salaries of new graduates:• B.S.B.-general—$34,900• B.S.B.-accounting—$34,000• M.B.A.—$64,000• M.A.H.R.I.R.—$51,800

Professional Education• Executive Development Center

Human Resources Executive ProgramAdvantage Program for M.B.A.sMinnesota Management AcademyMinnesota Management InstituteMinnesota Executive ProgramStrategic Leadership Program21st Century ProgramMarketing Strategy ProgramExecutive Presentations ProgramProject Management Program

• Industrial Relations CenterEmployer Education ServiceLabor Education Service

Cosponsored International Programs• Global M.B.A. offered in partnership with International

School of General Management in Bad Waldsee, Germany• M.B.A. and M.A.I.R. student exchange in Australia,

Austria, Belgium, France, Italy, Japan, Spain, Sweden,Switzerland

• Graduate summer business program with Université JeanMoulin-Lyon III in France

• Joint executive M.B.A. program with Warsaw School ofEconomics, Poland

• Undergraduate study abroad in Austria, Canada, Denmark,France, Hungary, Japan, Singapore, and Spain

• Undergraduate exchange program with University ofMaastricht Business School, The Netherlands

• Faculty exchange programs in China, France, Japan,Poland

AccreditationAmerican Assembly of Collegiate Schools of Business

Research CentersAccountingEntrepreneurial studiesFinancial studiesIndustrial relationsLogistics managementMarketingMISOperations managementQuality managementStrategic management

CSOM’s

undergraduate

business program is

routinely ranked in

the top 10 of public

4-year business

school programs.

Nearly one out of

every four graduates

of the Carlson School

holds the title of vice

president or above.

CSOMCarlson School of Management

175

Carlson School of M

anagement

AdmissionEach year CSOM admits approximately 300 freshmen, 80sophomores, and 40 juniors. For sophomores and juniors,college GPA, essays, and activities and achievements arekey admission criteria.

Freshmen and sophomores admitted to CSOM mustmeet with advisers each semester, are expected tocomplete the first 60 credits within two years, and shouldmaintain a minimum 3.00 GPA in order to pursue upperdivision majors.

Freshman AdmissionStudents are automatically admitted as CSOM freshmenif they1. submit a complete application, including all test scores

and transcripts, with a $25 application fee before thefreshman class fills. Applications are available at<admissions.tc.umn.edu> on the World Wide Web andfrom the Office of Admissions, 240 Williamson Hall,231 Pillsbury Drive S.E., Minneapolis, MN 55455(612/625-2008 or 800/752-1000).

2. complete the high school preparation requirements.See “Freshman Admission” in the General Informationsection of this catalog.

3. meet the ACT or SAT aptitude rating standards below.(If students do not know their high school rank, theyshould consult their high school counselor.)

4. apply by the December 15 priority deadline.The formulas below show how to calculate ACT or

SAT aptitude rating using high school rank percentile andACT or SAT test scores. If the aptitude rating falls at orabove the number indicated, students are admittedautomatically, provided they also meet the otheradmission standards listed above.Ratings for CSOM preferred admission

ACT Aptitude Rating (AAR) minimum of 135(for students who have taken the ACT): High schoolrank percentile + (2 x ACT composite score)SAT Aptitude Rating (SAR) minimum of 200(for students who took the SAT before April 1, 1995):High school rank percentile + (SAT verbal ÷ 10 + SATmath ÷ 10)RSAT Aptitude Rating (RSAR) minimum of 200(for students who took the SAT after April 1, 1995):High school rank percentile + (SAT verbal ÷ 10 + SATmath ÷ 10)

Individual ReviewIf students do not meet these standards for automaticadmission, their application is considered through anindividual review process. The Office of Admissions doesnot rigidly adhere to an admissions formula. Individualreview is a routine part of the admission process.

Admission at the Sophomore Year or LaterStandards for Admission to CSOM as Sophomores (from withinthe University)A limited number of sophomores are admitted eachacademic year. Fall is CSOM’s primary admission term.The application deadline is March 1. If there are openingsremaining for spring admission after fall admission iscompleted, students may apply for those openingsthrough October 1.

For non-CSOM University freshmen to transfer toCSOM for their sophomore year, the following standardsapply.• Completion of 30-49 credits (see below for procedures

for students with 50 or more credits)

• Completion of microeconomics, macroeconomics, andcalculus

• Completion of other CSOM premajor requirements(contact an adviser in 1-105 Carlson School ofManagement for more information)

• A 3.40 overall GPA is generally needed for admission,but this GPA is subject to change. All applicants with a2.80 minimum overall GPA are considered. Studentsmay submit an activity résumé to support theirapplication.

Note: Students are encouraged to apply by the March 1deadline for fall semester admission. CSOM cannotguarantee there will be openings available springsemester.

If currently enrolled in another unit of theUniversity, students should obtain a Change of College orStatus form and CSOM Application Addendum at theOffice of the Registrar, 200 Fraser Hall (612/625-5333).

Admission to Upper Division CSOM MajorProgramsThe following standards apply for students transferringdirectly into a CSOM upper division major program.• Completion of 50 or more credits• Completion of calculus, microeconomics,

macroeconomics, business statistics (OMS 1550—Business Statistics: Data Sources, Presentation, andAnalysis or equivalent), accounting principles (Acct2050—Introduction to Financial Reporting orequivalent) (for students applying to transfer directlyinto the upper division program, high grades in thecourses listed above are particularly important)

• Completion of other CSOM premajor requirements(contact an adviser in 1-105 Carlson School ofManagement for more information)

• A 3.50 overall GPA is generally required foradmission, but this GPA is subject to changedepending on seats available and the strength of theapplicant pool. Applicants with a 2.70 minimumoverall GPA are considered. Students may submit anactivity résumé to support their application.

The admission application deadline for the upperdivision CSOM program is March 1 for fall semester.

If transferring from outside the University, studentsshould obtain an admission application and a CSOMApplication Addendum at the Office of Admissions, 240Williamson Hall, 231 Pillsbury Drive S.E., MinneapolisMN 55455 (612/625-2008). Students must request that anofficial transcript from each college attended be sentdirectly from the college to the Office of Admissions. Inaddition, a nonrefundable $25 application fee mustaccompany the application.How Credits Transfer to CSOMTransferable credits completed at another institution maybe used to meet admission requirements. Lower divisionbusiness courses are accepted for transfer only if suchcoursework is available for credit in the College ofLiberal Arts premanagement program.

Junior- and senior-level business courses from otherinstitutions are usually accepted for general electivecredit. Courses must be evaluated by an appropriatefaculty member before they can be used in lieu of CSOMupper division course requirements. To have coursesevaluated, students should bring their syllabi to theUndergraduate Studies Office in 1-105 Carlson School ofManagement. CSOM does not normally accept lowerdivision transfer coursework in lieu of upper divisioncourse requirements.

176

Carlson School ofManagement

GeneralInformation

The Carlson School’s

undergraduate

programs ranked

#16 in the nation

according to U.S.

News & World

Report.

Note: If students have earned a bachelor’s degree inbusiness from another four-year institution, they may notearn a second bachelor’s degree from CSOM.Foreign CreditsIf students earned credits at a recognized educationalinstitution abroad, the credits may transfer to CSOM ifthe coursework meets specific lower division distributionrequirements or upper division elective requirements, asdetermined by the admissions coordinator. If studentscompleted credits at a foreign institution before admissionto the University of Minnesota, the credits are acceptedon the S-N grading system only. If students studied at an“unrecognized” foreign institution, they may earn creditonly through special examinations authorized by theUndergraduate Studies Office.

Other Admission and Registration OptionsUniversity CollegeAdmission and program requirements for CSOM’sevening program are identical to those for its day schoolprogram. Students must formally apply for admission toCSOM if they plan to earn a bachelor’s degree inbusiness. Students should plan to complete thepremanagement requirements early in their program andapply to the school after earning approximately 50 to 60credits.

CSOM offers an extensive selection ofundergraduate courses in the evening and students cancomplete the required coursework for many CSOMprograms through University College (UC). Carefulplanning is essential, however, because some courses areoffered only once per year.

CSOM’s evening program offers many of thebenefits enjoyed by Carlson School day students andevening students are welcome to participate in CSOMevents as their schedule allows. Like CSOM full-timestudents, evening students may take advantage of theadvising services in both the Undergraduate StudiesOffice, 1-105 Carlson School of Management, and theCareer Services Center, 1-110 Carlson School ofManagement.

UC offers a number of certificate programs invarious business fields. These programs are described inthe University College Catalog.Distance EducationUniversity of Minnesota distance education coursescarrying degree credit may apply toward CSOMrequirements. CSOM accepts a maximum of four upperdivision CSOM courses completed through distanceeducation toward the B.S.B. degree. There is no limit tothe number of non-CSOM courses students can takethrough distance education.Adult Special StatusIf students are interested in taking day school courses butnot in earning a degree and have a bachelor’s degree orbusiness experience and a strong undergraduate record,they may apply to CSOM as an adult special student.These students are allowed to register for two semesters(this does not include summer sessions). They needwritten approval from the Undergraduate Studies Officefor each semester’s registration.

If students are admitted as adult special students andlater decide to become degree candidates, they mustsatisfy CSOM’s admission requirements and apply totransfer into a degree program.

Applications for admission with adult special statusare available in the Office of Admissions, 240 WilliamsonHall. The application deadline for adult special students isJuly 15 for fall semester.

DegreesBaccalaureate ProgramsA CSOM degree combines management and liberal artscoursework to provide students with strongcommunication, analytical, and creative problem-solvingskills. CSOM offers programs leading to the bachelor ofscience in business (B.S.B.) with majors in accounting,actuarial science, entrepreneurial studies, finance, humanresources and industrial relations, insurance, internationalbusiness, management information systems (MIS),marketing, and a self-designed general managementmajor.

Certified Public Accountant (C.P.A.)The C.P.A. license is awarded by the state, not theUniversity. The C.P.A. examination is generally giveneach spring and fall. For detailed information, contact theMinnesota State Board of Accountancy (651/296-7937).

Graduate ProgramsCSOM, in conjunction with the Graduate School, offersprograms leading to the degrees of master of businessadministration (M.B.A.), master of business taxation(M.B.T.), and doctor of philosophy (Ph.D.). TheDepartment of Industrial Relations, in conjunction withthe Graduate School, offers programs in industrialrelations leading to the degrees of master of arts(M.A.H.R.I.R.) and doctor of philosophy (Ph.D.).Complete descriptions of these programs and graduate-level courses in these areas are in the Graduate SchoolCatalog as well as the publications of each program.Master of Business Administration (M.B.A.)Two M.B.A. programs are offered. For completeinformation, contact the M.B.A. program office in 2-210Carlson School of Management, 321 19th Avenue S.,Minneapolis, MN 55455 (612/624-0006).Master of Science in Management of Technology (M.S.-M.O.T.)A master’s degree in the management of technology isoffered through the Center for the Development ofTechnological Leadership, cosponsored by CSOM andthe Institute of Technology. The program preparesexperienced engineers and scientists for managementroles in technology-intensive organizations. Classes areheld on Fridays and Saturdays. For more information,contact the M.S.-M.O.T. Program, Center for theDevelopment of Technological Leadership, 510 WestBank Office Building, 1300 S. Second Street,Minneapolis MN 55455 (612/624-5747).The Carlson Executive M.B.A. (C.E.M.B.A.) ProgramThis 50-credit program is for individuals with eight to tenyears of full-time professional or managerial experienceand an undergraduate degree in any field. C.E.M.B.A. is atwo-year program that meets all day on campus Fridayand Saturday, every other week. The curriculum has astrategic management focus that heavily emphasizesinteractive learning. C.E.M.B.A. students participate intwo week-long residencies each year at a northernMinnesota resort and a nine-day international residencyabroad in the second year of the program. The programprovides a full range of customer services such as bookpurchases, registration, meals, and parking. For moreinformation about the C.E.M.B.A. program, contact theCarlson Executive M.B.A. (C.E.M.B.A.) Program, 2-210Carlson School of Management, 321 19th Avenue S.,Minneapolis MN 55455 (612/624-1385).

177

Carlson School of M

anagement

Master of Health Care Administration (M.H.A.)The M.H.A. program combines strong curriculum withhands-on experience to prepare students for leadershiproles in health care organizations. High-quality students,effective faculty, and alumni committed to mentoringstudents are hallmarks of this program, which iscelebrating its 50th year and again ranked as one of thetop five health care administration programs in thecountry. For more information, call 1-877-MHA-UofM or612-624-9588, or e-mail mnerney@csom.umn.edu.Master of Business Taxation (M.B.T.)This degree program helps students acquire a conceptualunderstanding of taxation and develop technicalcompetence in applying taxation rules in business andpersonal decision making.

The program is offered only in the evening throughUniversity College. Students enrolled part-time canexpect to complete the program in about two to threeyears; those enrolled full-time can complete the programin a shorter period of time.

For more information, contact the Director ofGraduate Studies in Taxation, 3-110 Carlson School ofManagement, 321 19th Avenue S., Minneapolis MN55455 (612/624-7511).Doctor of Philosophy in Business AdministrationDetails about admission and degree requirements for thePh.D. program in business administration are explained inthe Graduate School Catalog and in the Ph.D. programbrochure available from 4-106 Carlson School ofManagement, 321 19th Avenue S., Minneapolis MN55455 (612/624-0875, fax 612/624-5065).Master of Arts in Industrial RelationsThe M.A. degree program prepares students forprofessional employment in industrial relations andhuman resources management in business, government,and labor organizations. The program also serves aspreparation for further graduate work in industrialrelations or in related fields of study. The degree isoffered through full-time day and part-time eveningprograms.

Candidates for this program are selected on the basisof demonstrated interest and aptitude in industrialrelations and the quality of their undergraduate work. Asocial sciences background is desirable. Students musthave completed or be close to completing courseworkprerequisite to courses selected for their graduateprogram.Doctor of Philosophy in Industrial RelationsDetails about admission and degree requirements as wellas applications for the Ph.D. program in industrialrelations can be obtained from the Director of GraduateStudies in Industrial Relations, 3-300 Carlson School ofManagement, 321 19th Avenue S., Minneapolis, MN55455 (612/624-5810).

MinorsMinors in actuarial science, entrepreneurial studies,finance, human resources and industrial relations,insurance, and international business are available toCSOM students. A general business minor is available toqualified students in the Institute of Technology. See anUndergraduate Studies Office adviser for program details.

Scholastic Standards andPoliciesAcademic Progress Standards for CSOMFreshmen and SophomoresThe academic progress of CSOM freshmen andsophomores is monitored every semester. Because thereare GPA criteria for students to matriculate from theirfreshman to sophomore year and from their sophomoreyear to their upper division major, any student not makingsatisfactory academic progress is contacted by a CSOMadviser to develop a plan of action. A copy of the plan isplaced in the student’s file.

Major Program Matriculation Standards forCSOM Students1. For a CSOM freshman to matriculate to thesophomore year, the following standards apply.• Attendance at all required freshman-year advising

appointments• Completion of 30 credits• Completion of microeconomics, macroeconomics, and

calculus, all with a minimum grade of C• Completion of or waiver for information technology

module• 3.00 overall GPA2. For a CSOM sophomore to matriculate to upperdivision and declare a major, the following standardsapply.• Completion of 50 or more credits• Completion of calculus, microeconomics,

macroeconomics, business statistics (OMS 1550—Business Statistics: Data Sources, Presentation, andAnalysis), accounting principles (Acct 2050—Introduction to Financial Reporting), introduction tobusiness and business careers (Mgmt 2350—Introduction to Business and Business Careers), andmanagement fundamentals (Mgmt 3001—Fundamentals of Management), all with a minimumgrade of C

• 3.00 overall GPACSOM sophomores may declare their major any

time after the above criteria have been met.

Grading OptionsCSOM students must earn a minimum of 60 credits A-F.

Alternative RegistrationsV Registration (auditing)—V registration requests forCSOM courses are considered the first day following theday school alphabetical registration queue each semester.Joint Day/University College Registration—Joint day/University College registration requests for CSOMcourses are considered the first day following the dayschool alphabetical registration queue each semester.

Repeating CoursesIf students take a course and earn a D+ or D, they mayrepeat that course once, and only the second grade will becalculated into their GPA. The only exception to thispolicy is when students earn an F in the repeated coursein which case both grades will count in their GPA.

Students may repeat courses in which they receive agrade of F. Both the old and new grades will remain ontheir record and count toward their GPA. No degree creditis granted for grades of F or N. Students need not repeat acourse for which they received an F unless it is requiredfor graduation.

178

Carlson School ofManagement

GeneralInformation

More than 150

business

professionals mentor

Carlson School

undergraduates,

allowing students to

network and make

valuable contacts in

the business world

as early as their

freshman year.

Proficiency ExaminationsIf students have taken an upper division course inmarketing (from an institution not accredited by theAmerican Assembly of Collegiate Schools of Business),they may take a proficiency examination to see if they areexempt from taking Mktg 3001—Principles of Marketing.Examinations are offered approximately four times eachyear from October through August. Contact theUndergraduate Studies Office (612/624-3313) for detailedinformation.

PetitionsPetition forms, available in the Undergraduate StudiesOffice, must be used to determine whether certain coursescompleted at other institutions are equivalent toUniversity of Minnesota courses and to requestexceptions to rules and requirements.

CSOM may require students to supply writtenrecommendation from the department or instructorsinvolved. Students should submit the completed petitionto the Undergraduate Studies Office, 1-105 CarlsonSchool of Management, and may pick up a response tothe request in that office after official action has beentaken.

Graduation RequirementsTo graduate from CSOM students must• complete a minimum of 120 credits. These credits

include the required premanagement coursework andthe specific upper division requirements listed below.

• complete a minimum of 60 credits in nonbusinesscoursework. This includes courses taken before andafter admission to the major program.

• complete a minimum of 10 upper division coursestaught by CSOM departments after official admissionto the upper division major.

• complete the final 30 credits of the degree program atthe University of Minnesota. (With prior approval,students may apply credits earned at an institutionparticipating in the National Student ExchangeProgram and through foreign studies programs towardthese 30 credits.) In addition, accounting students mustcomplete 50 percent of their total number ofaccounting courses at the University of Minnesota.

• be in good academic standing with a minimum GPA of2.00 in all work taken after admission to CSOM and inall upper division courses offered by CSOMdepartments. (See page 177 for lower divisionprogress standards.)

Note: If students were previously admitted to CSOM andhave not taken courses for two years or more, they shouldconsult a CSOM adviser before continuing theircoursework. Contact the Undergraduate Studies Office in1-105 Carlson School of Management for updated degreeplanning sheets.

Students admitted to the upper division major beforefall 1999 should consult the appropriate CSOM Bulletinfor their program requirements.

To declare a major or a minor, students mustcomplete the CSOM Major/Minor Declaration formavailable in the Undergraduate Studies Office, 1-105Carlson School of Management. Students can declare oneor two majors.

AdvisingCSOM offers centralized advising services toundergraduates currently enrolled or interested in CSOM.In addition, CSOM also works closely with the College ofLiberal Arts’ prebusiness advisers (B-18 Johnston Hall,612/624-9585).

To schedule an appointment with a CSOM academicadviser, students should call or visit 1-105 Carlson Schoolof Management (612/624-3313). The CSOM adviser willhelp design and implement a program of study andextracurricular activities to achieve students’ educationalgoals. Students should prepare for the appointment bygiving careful thought to possible course selections,program schedules, and short- and long-term educationaland career goals.

CSOM freshmen have access to individual andgroup advising sessions led by professionalUndergraduate Studies Office advisers in 1-105 CarlsonSchool of Management. Freshman-year sessions assiststudents in adapting to college life and becoming part ofthe Carlson School learning community. Upper divisionCSOM students are available to serve as “CarlsonBuddies” to help freshmen learn the ropes.

Special LearningOpportunities andResourcesMentorship Program—CSOM students may request amentor from the Twin Cities business community. This isan ideal way to learn more about the business world andbegin developing business connections. Mentors can alsohelp students develop their résumé, improve theirinterviewing skills, and expand their knowledge ofbusiness practices. See an Undergraduate Studies Officeadviser for more information.Accounting Internships—Two optional internshipopportunities are available in the accounting program.

Acct 3199—Internship in Public AccountingAcct 3299—Internship in Management Accounting

The accounting internships require full-time workand provide an opportunity to apply accounting conceptsand methods and gain experience that can help in makingcareer decisions. The public accounting internship,usually taken in the winter, emphasizes auditing andtaxation. The management accounting internship, usuallytaken during the summer, involves areas such asdeveloping cost data for specific projects, reviewingaccounting procedures, and evaluating and operatingsome phase of an accounting system.Office of Information Technology (1-150 CarlsonSchool of Management, 612/625-8005)—The CarlsonSchool’s Office of Information Technology provides avariety of services and programs to CSOM students,faculty, and staff. Workshops on basic computing skills,including the use of word processing, spreadsheet,electronic mail, and database systems, are offered on aregular basis. Equipment may be loaned to students forclassroom presentations. The office also maintains anextensive set of free “how-to” materials.Computer Labs (Distributed Computing Services, 612/625-0200)—A CSOM Undergraduate Computer Lab is inL-108 Carlson School of Management. Additional publiccomputing labs on the West Bank are in 455 Blegen Halland 50 Hubert H. Humphrey Center. The labs offer freeaccess to PC and Macintosh computers.

179

Carlson School of M

anagement

Industrial Relations Reference Room (295 Hubert H.Humphrey Center, 612/624-7011)—A division of theIndustrial Relations Center, this specialized librarymaintains a unique collection of resource materialscovering all aspects of employment, with an emphasis oncollective bargaining and human resource management.O. Meredith Wilson Library (612/624-0303)—Ifbeginning research on a business subject, students shouldstart in the Business Reference Service located on thesecond floor of the library. Its collection includesreference materials, tax and investment advisory services,periodical indexes, and a large collection of corporateannual reports. Many 10-K reports, which publicly-heldcorporations must file with the Securities and ExchangeCommission, are available on microfiche. The DeloitteHaskins and Sells Tax Research Room is adjacent to theBusiness Reference Service. It contains referencematerials on tax services, tax cases, revenue rulings, andtax proceedings.

Periodicals are kept in the Periodicals Room in thebasement, but students may also find some newspaperand periodical indexes of interest in the Reference Roomon the first floor.

Census and government agency publications are keptin the Government Publications Library on the fourthfloor. Indexes, bibliographies, and reference assistanceare also available there.

Loans and ScholarshipsSeveral short-term loans are available to CSOM students.For more information, contact the Undergraduate StudiesOffice, 1-105 Carlson School of Management (612/624-3313). In addition, the Department of Accounting has aloan fund for accounting majors; contact the departmentdirectly (612/624-6506) for more information.

A variety of scholarships—both need- and merit-based—are available for current and prospective CSOMstudents. The priority deadline for most freshmanscholarships is January 15. Applications are availablefrom the Office of Admissions, 240 Williamson Hall(612/625-2008). Information on scholarships forcontinuing CSOM students is generally available inMarch. Applications are available from the UndergraduateStudies Office. In addition, the Department of Accountingannually awards many scholarships to undergraduateaccounting majors; contact the department early fallsemester to obtain application information. Awards areprimarily based on academic merit.

International ProgramsWith the internationalization of the economy, it is moreimportant than ever to gain an understanding of othercultures, languages, and business practices.

An Undergraduate Studies Office adviser, 1-105Carlson School of Management, specializes in advisingbusiness majors considering a study abroad program orinternational business major and can provide currentinformation on scholarship funds to support study abroad.

For more information, see “Study Abroad” in theGeneral Information section of this catalog.

Career InformationThrough the Career Services Center (1-110 CarlsonSchool of Management, 612/624-0011) CSOM studentsand alumni can investigate local and nationwide careeropportunities, get help writing résumés, obtain

information about companies throughout the UnitedStates, and polish interpersonal skills through mockinterviews. The center is the place to start searching for aninternship, part-time job, or full-time position. Studentswill find hundreds of listings for companies withpositions to fill and many opportunities to interview oncampus with recruiters eager to hire Carlson Schoolgraduates.

Student OrganizationsActuarial Club—This club is made up of students andstaff of all colleges who are interested in actuarialscience. The group sponsors guest speakers, companytours, social events, and a mentorship program.Alpha Kappa Psi—This coeducational, national businessfraternity brings together students with a common interestin business for scholastic and social activities. Prominentmen and women in business are featured at meetingsthroughout the year. Members participate in tours,seminars, and community service projects. Meetings areheld Sunday evenings at the chapter house, 1116 FifthStreet S.E., Minneapolis. Visitors are welcome.American Marketing Association (AMA)—AMA is anonprofit, student-run organization that promotes a betterunderstanding of marketing and its role in the businessworld. AMA provides opportunities to hear area businessleaders speak on current marketing issues, tour area firms,and make valuable business contacts.Beta Alpha Psi—This national, professional honoraryorganization is made up of accounting majors with GPAsof at least 3.20 in accounting and 3.00 overall. Beta AlphaPsi introduces the aspiring accountant to the businessworld by encouraging interaction among students, faculty,alumni, and area business people. It sponsors speakersfrom all areas of accounting and members tour CPAfirms, industry, and government offices. The groupprovides tutors for students in accounting, participates ina Volunteer Income Tax Assistance program, and sponsorsrecreational sports teams.Beta Gamma Sigma—Membership in Beta GammaSigma is the highest national recognition a student canreceive in an undergraduate or master’s program inbusiness or management. Beta Gamma Sigma encouragesand rewards scholarship, promotes advancement ofeducation in business, and fosters integrity in the conductof business operations. To be eligible for membershipstudents must rank in the upper 7 percent of their juniorclass, upper 10 percent of their graduating senior class, orupper 20 percent of their graduating master’s class.Members are elected to membership and publiclyrecognized during spring semester.Business Association of Minorities (BAM)—Thisorganization, made up of management andpremanagement students, fosters a multiethnic sharing ofideas and concerns among people interested in the rolepeople of color play in today’s business world. Through avariety of activities, BAM brings together people who areinterested in meeting the academic, political, and socialneeds of minority students pursuing a CSOM degree.Tours of local corporations, guest speakers, and socialevents are sponsored by BAM throughout the year.Members are actively involved in various campus andcommunity activities.Business Board (B-Board)—This group representsCSOM’s undergraduate student body. B-Board setspolicies that govern student organizations and itsmembers serve on various school committees and planactivities to foster interaction among students and faculty.Nonboard members are welcome to participate in all B-Board meetings and events.

180

The management

information

systems area was

ranked #1 in the

nation by U.S. News

& World Report.

Club MIS—This club is for students interested in usingcomputers in business. Members learn about careeropportunities in computer-related fields by meeting withpracticing professionals.Delta Sigma Pi—This business fraternity for men andwomen offers professional events such as tours of localbusinesses, dinners, and guest speakers. Members canalso participate in community service activities,intramural athletics, and social events. Meetings are heldMonday evenings in the Undergraduate Student Lounge,1-112 Carlson School of Management.Honors Association Emerging Leadership Program—This program promotes the interests of CSOM high-ability students by providing a framework for developingskills in leadership, community service, diversity, andcareer development. The association is premised on thebelief that, in addition to achieving excellent academicrecords, honors students should provide leadership andsupport for activities outside the classroom that fosterintellectual and personal growth. The program also isopen to all admitted freshmen with ACT composite scoresof 28 or higher and high school class ranks in the 90thpercentile and above. Other students should contact anUndergraduate Studies Office adviser (1-105 CarlsonSchool of Management) for information about applying tothe program.Institute of Management Accountants (IMA)—TheInstitute of Management Accountants student chapter isofficially sponsored by the IMA St. Paul chapter. Itspurpose is to facilitate communication and contact witharea management accounting professionals. The groupoffers several professional events each semester andmembers may participate in activities held by all threeTwin Cities IMA chapters.

Investment Club—This club provides information aboutfinancial markets and discusses alternative vehicles forinvestment. Some of the topics include common stocks,bonds, mutual funds, options and futures/commoditiestrading, ethical investing, and financial planning.Phi Beta Lamba—This organization is the collegiateversion of Future Business Leaders. It provides studentsinterested in business-related careers the opportunity tosharpen their communication, leadership, and analyticalskills through a series of local and national competitions.The organization is open to all University students andseeks participation particularly from freshmen andsophomores.Society for the Advancement of Management (SAM)—This organization welcomes management andpremanagement students interested in becoming involvedin the business community. Members learn practicalbusiness techniques by interacting with practicingprofessionals and other students.Student Association for Accounting (SAFA)—Studentsseeking to meet other accounting students, faculty, andprofessionals compose SAFA’s large membership. To easeeach student’s shift from college to the business world,SAFA arranges office tours and on-campus lectures everysemester. Each fall, SAFA and B-Board cosponsor theCareer Fair. SAFA also hosts an annual spring banquet forstudents, faculty, and many accounting representatives.This organization contributes to the community, includingan annual Fall Clean-Up and helping the MinnesotaAccounting Aid Society provide tax services to peoplemeeting their requirements. An interest in accounting isthe only membership requirement.

Directory(area code 612)Accounting and Business Law3-310 Carlson School of Management624-6506

Career Services Center1-110 Carlson School of Management624-0011

Carlson Executive M.B.A. Program2-210 Carlson School of Management624-1385

Executive Development Center2-250 Carlson School of Management624-2545

Finance3-110 Carlson School of Management624-2888

Industrial Relations3-300 Carlson School of Management624-2500 (graduate programs, 624-5810)

Employer Education Service624-5525

Labor Education Service624-5020

I.R. Reference Room624-7011

Information and Decision Sciences3-353 Carlson School of Management624-8030

Management and Information SystemsResearch Center624-6565

Juran Center for Leadership in Quality4-106 Carlson School of Management624-6565

Managerial Communication Skills Center1-150S Carlson School of Management624-1525

Marketing and Logistics Management3-140 Carlson School of Management624-5055

Entrepreneurial Studies Center624-5524

Logistics Management ResearchCenter625-0352

M.B.A. Program2-210 Carlson School of Management624-0006

M.B.T. Program3-110 Carlson School of Management624-7511

M.S.-M.O.T. Program107 Lind Hall624-5747

Office of the Dean4-300 Carlson School of Management

Alumni Relations625-1556

Communications625-0843

Corporate Relations625-9538

Facilities624-3842

Financial Services625-0086

International ProgramDevelopment4-104 Carlson School of Management625-9361

Office of Information Technology1-150 Carlson School of Management625-5550

Operations and Management Sciences3-140 Carlson School of Management624-7010

Ph.D. Program4-106 Carlson School of Management624-0875

Strategic Management and Organization3-353 Carlson School of Management624-5232

Strategic Management ResearchCenter624-0226

Undergraduate Program1-105 Carlson School of Management624-3313

Mailing AddressUndergraduate Studies OfficeCarlson School of ManagementUniversity of Minnesota1-105 Carlson School of Management321 19th Avenue S.Minneapolis, MN 55455-0430624-3313

Fax: 624-0350World Wide Web: <www.csom.umn.edu>

Carlson School ofManagement

GeneralInformation

Accounting

181

Carlson School of M

anagement

ProgramsDegree

Carlson School of Management

Note: Pending approval, CSOM will offer two newmajors—entrepreneurial studies, and humanresources and industrial relations—beginning fall1999. For more information about these majors,contact the Undergraduate Studies Office (1-105Carlson School of Management, 612/624-3313).

Degree ProgramRequirementsThe following requirements apply to all CSOM degreeprograms.

Lower Division RequirementsStudents Beginning as FreshmenTool Courses: Management-Related and Mathematics(A-F only)Microeconomics (Econ 1101) (4 cr)Macroeconomics (Econ 1102) (4 cr)Calculus (Math 1142 [3 cr] or Math 1271 [4 cr] or equivalent)Business statistics (OMS 1550 [4 cr] or acceptable statistics course)Principles of accounting (Acct 2050) (4 cr)

Other RequirementsFreshman writing (EngC 1011, 1012, 1013, or 1014) (4 cr, A-F only)General psychology (Psy 1001 or equivalent) (4 cr, A-F only)Information technology module (BA 1001) (2 cr, S-N only)Introduction to business and business careers (Mgmt 2350) (4 cr, A-F

only)

Students Beginning as SophomoresTool Courses: Management-Related and Mathematics(A-F only)Microeconomics (Econ 1101) (4 cr)*Macroeconomics (Econ 1102) (4 cr)*Calculus (Math 1142 [3 cr] or Math 1271 [4 cr] or equivalent)*Business statistics (OMS 1550 [4 cr] or acceptable statistics course)Principles of accounting (Acct 2050) (4 cr)

Other RequirementsFreshman writing (EngC 1011, 1012, 1013, or 1014) (4 cr, A-F only)General psychology (Psy 1001 or equivalent) (4 cr, A-F only)Introduction to business and business careers (Mgmt 2350) (4 cr,

A-F only)* Must be completed before the student’s first semester in CSOM. See

sophomore admission requirements earlier in this section.

Upper Division Requirements(quarter-based course number, if different, in parentheses)A. Functional core (2 cr each, A-F only)

Acct 3001—Introduction to Management AccountingFina 3001 (was BFin 3000)—Finance FundamentalsHRIR 3021 (was IR 3002)—Personnel and Industrial RelationsIDSc 3001 (was 3030)—Information Systems and InformationManagementMgmt 3001—Fundamentals of ManagementMktg 3001 (was 3000)—Principles of MarketingOMS 3001 (was 3000)—Introduction to Operations Management

B. Mgmt 4004 (was 3004)—Business Policy: Strategy Formulation andImplementation (4 cr, A-F only)

C. International core (4 cr, A-F only) One of the following:Acct 5310—International AccountingApEc 3070, 5720, 5750, 5790BGS 3004—International BusinessBGS 3014—Topics in International BusinessBGS 3040 (was BA 3040)—International Environment ofBusinessEcon 3041, 3315, 5301, 5307, 5315, 5331, 5337, 5401Fina 4641 (was BFin 3400)—International Finance and RiskManagementMktg 4070 (was 3072)—International Marketing

D. Communications core (4 cr, A-F only)BA 3033—Business Communication

AccountingDepartment of Accounting

B.S.B.Accounting is the process of gathering financialinformation and presenting it in a manner that will helpothers make better decisions. Accountants also arefrequently called upon to analyze financial informationand provide important business advice. The terms anddefinitions that have emerged from the discipline ofaccounting are used widely within industry. In fact,accounting is commonly described as the “language ofbusiness.”With increased automation over the years, the role ofaccountants has changed dramatically. Accountants havebecome recognized as valued business advisers andimportant members of an organization’s managementteam.

The major areas of study within the accountingcurriculum are financial accounting, managementaccounting, income taxation, auditing, and business law.

Required CoursesAcct 5101—Asset Valuation and Income DeterminationAcct 5102—Liability Valuation and Income DeterminationAcct 5125—Auditing Principles and ProceduresAcct 5135—Fundamentals of Federal Income TaxBLaw 3058—The Law of Contracts and Agency

Four credits from the following:Acct 5160—Financial Statement Analysis (2 cr)Acct 5236—Introduction to Taxation of Business Ethics (2 cr)Acct 3201—Intermediate Management Accounting (2 cr)Acct 5180—Consolidations and Advanced Reporting (2 cr)Acct 5126—Internal Auditing (2 cr)Acct 5310—International Accounting (2 cr)Acct 5320—Current Topics in Accounting (2 cr)

182

Actuarial ScienceIndustrial Relations Center

B.S.B.Actuarial science applies mathematics to insuranceproblems. Practicing actuaries calculate insurancepremiums, policy and loss reserves (liabilities), andestimate costs of future losses.Students are introduced to professional organizations,including The Society of Actuaries, American Academyof Actuaries, Casualty Actuarial Society, Conference ofConsulting Actuaries, and American Society of PensionActuaries. Students typically take at least twoprofessional actuarial examinations before graduation.There are multiple career opportunities for students withthe mathematics, business, and communication skillsdeveloped through the actuarial science major. Theinsurance and actuarial community strongly supports thisprogram.

Required CoursesIns 5101 and 5200 or Ins 5100 and 5201 (students may take all four

courses for greater exposure to the insurance industry aspect ofthe major; if they take only two courses, Ins 5101 and 5200 arepreferred)

Math 4065Math 5067 and 5068Math 5101 and 5102 (preferred sequence) or Math 4101 and 4102 (this

sequence acceptable only if students also complete a probabilitycourse)

Minor RequirementsIns 5100—Corporate Risk Management

and Ins 5101—Employee Benefits and Pensionsor Ins 5200—Insurance Theory and Practice

and Ins 5201—Personal Financial Management.Math 4065—Theory of Interestor Math 5067—Actuarial Mathematics Ior Math 5068—Actuarial Mathematics II

FinanceDepartment of Finance

B.S.B.The finance major develops students’ understanding ofprinciples and techniques of effective financial decisionmaking. It provides students with the skills andknowledge required to assist businesses, governments, orindividuals in answering questions regarding raisingfunds, making investments, evaluating performance, anddistributing profits.

Required CoursesAcct 5100—Corporate Financial ReportingSixteen credits of additional finance coursework beyond Fina 3001

Minor RequirementsA finance minor is available to CSOM students. Any 12credits in finance coursework (beyond Fina 3001)completes this minor.

General ManagementB.S.B.Degree RequirementsThe general management major is self-designed andvaries for each student. A minimum of four upper divisioncourses (at least 16 credits) beyond the core courses isrequired.

Minor RequirementsA management minor is available to Institute ofTechnology students. The minor consists of the following.Prequisites: (8 cr) Econ 1104 and 1105

(or Econ 1101 and 1102)Required for all students: CSCI 2031 (4 cr);

Acct 1050 (4 cr)Four of the following five courses (16 cr):

Acct 3001 or IEOR 5441; Fina 3001; Mgmt 3001; Mktg 3000;OMS 3000

International BusinessB.S.B.CSOM’s international mission is “to ensure that itsfaculty and students obtain the necessary understandingof and appreciation for the impact of a global economy onthe teaching and practice of management. . ..” The majorin international business follows from this mission andallows students to combine study abroad experience(s)with coursework in international business and economics,and language.

Required CoursesFina 4641 or Acct 5310Mktg 4070 or BGS 3004An approved study abroad experience of at least one quarter (semester

strongly recommended; summer programs do not meet thisrequirement), during which the student completes at least 8semester credits of business (or related area) coursework.

Sufficient credits in international business (or related area) for aminimum credit total of 20 semester credits. All coursework mustbe international in focus.

Two college years or the equivalent of the same second language.Language RequirementsProficiency in a language other than English at the levelof four college semesters (two years) is required.

Management InformationSystemsDepartment of Information and Decision Sciences

B.S.B.The management information systems (MIS) majorprepares students to be leaders in conceptualizing,prescribing, developing, and delivering leading-edgeinformation system applications that support businessprocesses and management decision making. It providesstudents with an understanding of the functions ofinformation systems in organizations and detailedknowledge of information system analysis, design, andoperation.

Degree RequirementsStudents in the major complete 20 credits of MIS coursesin addition to IDSc 3001. Fourteen of these credits arerequired and cover topics dealing with application anddevelopment, business process analysis and design,project management, and information technologyinfrastructure. For the remaining 6 credits, students selectone from a pool of MIS elective courses.

Actuarial Science

Finance

GeneralManagement

InternationalBusiness

ManagementInformationSystems

Marketing

Risk Managementand Insurance

During the 1997-98

school year, 180

companies came to

the CSOM Career

Services Center to

interview students.

The average starting

salary of B.S.B.

graduates is about

$34,500.

183

Carlson School of M

anagement

Fundamental to success in performing MIS work is anunderstanding of human behavior and computertechnology. Therefore, MIS majors are encouraged to takecourses in psychology, sociology, and computer scienceas part of their overall undergraduate degreerequirements.

Required CoursesIDSc 3201—Information Systems Application Development (4 cr)IDSc 3202—Analytical Skills for Business Application Development

(4 cr)IDSc 4203—Information Technology Infrastructure (4 cr)IDSc 4204—Information Services Management (2 cr)

Six credits from the following:IDSc 4421—Financial Information Systems and Technologies (2 cr)IDSc 4431—Advanced Database Design (2 cr)IDSc 4432—Advanced Database Management and Administration (2 cr)IDSc 4441—Electronic Commerce (2 cr)IDSc 4451—Telecommunications Fundamentals and Applications (2 cr)IDSc 4452—Data Communications and Networks (2 cr)IDSc 4490—Information Systems Special Topics (2 cr)IDSc 4496—Information Systems Industry Internship (2 cr)

MarketingDepartment of Marketing and Logistics Management

B.S.B.Marketing is concerned with the flow of goods andservices through the economy and the distribution of bothindustrial and consumer goods. Because more than onehalf of the consumer dollar goes to pay for marketingservices, marketing is a significant part of the economy,and the efficiency with which marketing activities arecarried out has major social and economic implications.

Degree RequirementsThe marketing major provides a coherent yet broad-basedstudy leading to job market and professionalopportunities. To provide enough depth, marketing majorsmust take five courses beyond the required introductorycourse (Mktg 3001). One course, Mktg 3010—MarketingResearch, is required. Reflecting the need for somedegree of uniformity in coverage and training, studentsselect the remaining four courses from an approved list toprovide the specialization needed for specific jobopportunities in advertising management,sales management, logistics management,retail sales/buying, or marketingmanagement.

Required CoursesMktg 3010—Marketing Research (4 cr)

Sixteen credits from the following:Mktg 4020—Advanced Logistics and Supply Chain

Management (2 cr)Mktg 4030—Selling and Sales Management (4 cr)Mktg 4040—Buyer Behavior (4 cr)Mktg 4050—Integrated Marketing Communications

(4 cr)Mktg 4060—Marketing and Distribution Channels

(4 cr)Mktg 4070—International Marketing (2 cr)Mktg 4080—Marketing Strategy (4 cr)Mktg 4090—Marketing Topics (2 cr)

Risk Management andInsuranceIndustrial Relations Center

B.S.B.Risk management identifies, assesses, and addresses thecauses and effects of risk on an organization, includingrisks of loss to human resources and assets, legal liabilityto others, applying risk control, risk transfer, and riskfinancing techniques. Insurance is one of the majortransfer tools of risk management. The risk managementand insurance major applies theory to practice usingprinciples of finance, law, and mathematics in the transferand reduction of risk for individuals, corporations, andgovernment.This major introduces students to the risk managementdiscipline and multiple career paths, including corporaterisk manager, benefits manager, insurance agent/broker,underwriter, loss adjuster, consultant, and personalfinancial planner.

Required CoursesIns 5100—Corporate Risk Management (2 cr)Ins 5101—Employee Benefits and Pensions (2 cr)Ins 5200—Insurance Theory and Practice (2 cr)Ins 5201—Personal Financial Management (2 cr)

Three to four credits from the following:BLaw 3058—The Law of Contracts and Agency (4 cr)Fina 4241—Corporate Financing Decisions (4 cr)Fina 4242—Corporate Investment Decisions (4 cr)Math 4065—Theory of Interest (3 cr)Math 5067 or 5068—Actuarial Mathematics I or II (4 cr)

Minor RequirementsIns 5100—Corporate Risk ManagementIns 5101—Employee Benefits and PensionsIns 5200—Insurance Theory and Practice

One of the following five courses:Ins 5201—Personal Financial ManagementBLaw 3058—The Law of Contracts and AgencyMath 4065—Theory of Interest RatesMath 5067—Actuarial Math IMath 5068—Actuarial Math II