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Course Descriptions

For your convenience, below are the course descriptions for the required classes for all Business Administration majors and minors. For more information please visit the academic catalog.
BUS 201 Principles of Accounting I

This is the introductory course in accounting with an emphasis on financial reporting for external users of financial statements. The course includes an examination of the recording of business transactions and the measurement of business income, assets, liabilities and equities.

Fall and Spring Semesters. 3 semester hours.

BUS 202 Principles of Accounting II

This course is an introduction to management accounting and the use of decision-making tools needed by
managers in an organization. The course focuses on financial analysis, manufacturing cost flows, budgeting, and planning for long-term financing and investing activities.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: C or higher in BUS 201.

BUS 212 Business Law

Business Law I provides an introduction to the law and legal system in the U.S., as well as a thorough examination of the law of contracts and sales. The course includes the study of sales, contracts, bailment and Article II of the Uniform Commercial Code. Also included is the law of negotiable instruments, secured transactions and bankruptcy.

Fall Semester. 3 semester hours.

BUS 213 Business Law II

Business Law II examines the law of business associations to include agency, partnerships, limited partnership, joint ventures and corporations including an overview of antitrust law and securities regulation. Business Law II includes law of human resources.

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 212.

BUS 213 Business Law II

Business Law II examines the law of business associations to include agency, partnerships, limited partnership, joint ventures and corporations including an overview of antitrust law and securities regulation. Business Law II includes law of human resources.

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 212.

BUS 295 Financial Statement Analysis

Financial Statement Analysis is a study of the corporate financial statements. The study focuses on three major parts:
(1) practical computer-generated problems that analyze the financial statements mathematically;
(2) an in-depth study of the meaning of the data that is included in the financial statements; and
(3) a study of data that might not be included in the financial statements. The objective entails the student being able to read in-between the lines and separate meaningful data from the corporate fluff that is commonly included in a corporate annual report.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 202 and ECO 202.

BUS 300 Principles of Management

Management consists of an analysis of business activities designed to manage an organization to efficiently serve employees, customers and the community. Topics studied include planning, organizing, leading and controlling; the business environment, business institutions, government regulations, organizational structure, human resources and human behavior within the framework of the needs of a diverse world.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: sophomore standing.

BUS 301 Intermediate Financial Accounting

This course is designed to provide an in depth examination of the theory underlying the accumulation of accounting data. It includes a review of Generally Accepted Accounting Principles (GAAP), factors affecting the measurement and recognition of revenue, accounting for receivables, inventory, plant assets, intangibles and investments.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 202.

BUS 302 Intermediate Financial Accounting II

This course is a continuation of BUS 301. Accounting principles and reporting requirements for long-term liabilities such as bonds, leases and pensions are studied. Other topics include taxes, owners’ equity, earnings per share calculations, comprehensive income and the treatment of accounting changes and errors.

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 301.

BUS 304 Cost Accounting

An intermediate managerial course focusing on the use of accounting data to plan and control operations and allocate resources. In addition, a framework for measuring managerial performance will be developed by analyzing costvolume-profit relationships, budgeting, standard cost analysis and profit analysis.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 202.

BUS 305 Accounting Information Systems

This is an introductory course in accounting information systems. It includes issues such as transaction processing cycles, the use and effects of computers and other relevant technology on accounting, database and file systems, internal accounting and administrative controls, and information technology audits. The course emphasizes use of common business software, which may include spreadsheets, flowcharting software, communications, general ledger and database management systems.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 302.

BUS 309 Principles of Marketing

Principles of Marketing is an introduction to the basic functions of marketing. The course includes topics such as consumer behavior, marketing research, marketing planning, physical distribution, selling, promotion, retailing, pricing, wholesaling, purchasing and e-commerce.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: sophomore standing.

BUS 311 Advertising

A comprehensive survey of basic principles and practices of advertising. Topics include: planning and advertising campaigns, creating advertisements and developing media plans.

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 309.

BUS 312 Sales and Sales Management

The sales and sales management process as it pertains to the marketing environment. Topics addressed include: the sales process, the steps in the sales process, the internal and external sales environment, recruitment and selection of sales persons, motivation, territory and quota management and design, sales forecasting, compensation, and appraisals. Includes case and group work.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 309.

BUS 316 Financial Management

This course is designed for the general business student and is intended to provide a theoretical and practical framework for corporate financial management. Most specifically this course will encourage each student to build a foundation of knowledge by examining:
(a) financial decision making within the corporate framework;
(b) the relationship between risk and return;
(c) time value of money; and
(d) capital budgeting.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: C or higher in BUS 202 and ECO 202.

BUS 321 Public Relations

This course is an overview of the functions, practices and growing application of public relations in private industry and the public sector. Emphasis is placed on planning, writing and management functions, working with the media and developing effective public relations strategies. At the end of this course, students should be capable of performing the following public relations activities: analyzing public relations problems and opportunities; understanding and developing concise and targeted public relations messages; and understanding the terminology and theoretical concepts associated with public relations.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 309.

BUS 340 Global Marketing Perspectives

Global Marketing Perspectives is a hands-on class that will explore various aspects of marketing including retailing, e-commerce, personal selling and institutional marketing. The Global Marketing Perspectives class may include a trip so students can experience different marketing activities firsthand. Please contact the instructor the year before to get information about the trip, its cost and possible fund-raising opportunities. This course can be repeated.

Intensive Learning Term. 3 semester hours.
Satisfies Global Diversity requirement.
Prerequisites: C or higher in BUS 309.

BUS 403 Governmental Accounting

This course is an introduction to government-wide and fund accounting financial statements for state and local governments. Included is an overview of current governmental accounting standards. Governmental units are the basic unit of study; however colleges/universities and healthcare organizations are briefly covered to illustrate application of accounting and financial reporting for all notfor-profit entities. Governmental accounting is a required course for those students who want to sit for the CPA exam.

Spring Semester. 1 semester hour.
Prerequisite: BUS 302.

BUS 405 Production Management

Examines the concepts, principles and techniques of production and operations management, and focuses on capacity, location, process, product, materials purchasing and scheduling of resources with an integrated systems approach that includes CIM (Computer Integrated Management), JIT (Just In Time) and MRP(Manufacturing Resource Planning).

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 300.

BUS 406 Human Resources

This interactive course is a study in human resources. The overlying theme is that humans can be the greatest resource in any venture. This course will demonstrate that the success of a venture is directly related to its human resources.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 300.

BUS 407 Marketing Research

The Marketing Research class includes methods for designing market research studies, methods of collecting data, problem formulation, sampling methods and techniques, data analysis and research reporting.

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 309 and MTH 232.

BUS 408 Organizational Behavior

Organizational Behavior includes a study of individual and group behavior in organizational settings and the processes and skills essential for the success of individuals as members of organizations. Also includes a study of the objectives, functions and organization of personnel programs, with a focus on the diverse culture of the workplace.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in BUS 300.

BUS 409 Auditing

This course is a study of the auditing of business and non-business organizations including the roles, responsibilities, and regulation of auditors. It includes an examination of audit objectives/procedures, risk assessment, statistical sampling methods, evidence decisions, control evaluation, transaction cycle analysis, assurance and attestation services and types of audit reports. The ethical and legal responsibilities of auditors are also addressed.

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 302 and BUS 305.

BUS 411 Tax Accounting

This course is an introductory-level study of taxation of individuals and other entities. The course focuses on concepts of income, deductions and credits that apply to all reporting entities, and emphasizes tax planning as well as tax compliance.

As announced. 3 semester hours.
Prerequisites: C or higher in BUS 302.

BUS 412 Small Business Management

This course examines, through the use of case studies, why some businesses are successful while others fail. Guest entrepreneurs will also be invited to speak, and their business ventures analyzed. The goal of this course is to take students through the actual process of initiating a business venture from the conceptualization phase to the preparation of a detailed business plan. Students are required to present the completed plans to the class.

Spring Semester. 3 semester hours.
Prerequisites: C or higher in BUS 201, 202, 300, and 309.

BUS 484 International Marketing

Focuses on the international marketer’s sphere of operations, dwelling particularly on the uncontrollable environment variables in foreign markets and how they affect the task of international marketing management. Emphasis is placed on how the execution of product strategy, promotion strategy and distribution strategy is different from one country to another.

Spring Semester. 3 semester hours.
Satisfies Global Diversity requirement.
Prerequisites: C or higher in BUS 309.

BUS 490 Business Policy and Strategic Management

Business Policy and Strategic Management is a capstone course in solving the problems of advanced general management. The course develops the concepts and techniques of strategic management as well as providing an analytical approach in understanding and dealing with actual business world situations.

Fall and Spring Semesters. 3 semester hours.
Satisfies Senior Experience requirement.
Prerequisites: C or higher in BUS 202, 300, 309, 316, ECO 202 and senior standing.

CJ 110 Introduction to Criminal Justice

Introduction to Criminal Justice offers the first-year student a foundation to concepts of prevention, social justice, and the origins of crime (U.S. and globally).

Spring and Fall Semesters. 3 semester hours.

CJ 111 Corrections, Punishment & Crime

A historical overview of American correctional systems with an emphasis on punishment ideologies and their impact on probation, parole, imprisonment, and sentencing objectives.

Fall and Spring Semesters. 3 semester hours.

CJ 280 Criminal Law & Jurisprudence

This course examines the history of criminal law and the elements of crime in our society and in Michigan.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in CJ 110 or 111.

CJ 360 Criminal Investigations

This course offers students in the law enforcement track practical experience in writing tickets, police reports and warrants.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: C or higher in CJ 280 and 290.

CJ 430 Crime Scene Investigations

Crime Scene Investigation provides students with foundations in fingerprinting analysis, the use of forensic science, and accident reconstruction.

Fall Semester. 3 semester hours.
Prerequisites: C or higher in CJ 280 and 290

CS 110 Computer Information Systems

Introduction to computer information systems. Literacy, hardware and software concepts, history, social and ethical issues, elementary systems software and applications software such as word processor, spreadsheet, database, communications and graphics packages. Does not count toward a major or minor in Computer Science.

Fall and Spring Semesters. 3 semester hours.

CS 116 Web Design and Development

Students will learn basic HTML scripting, use of Web editors to create various styles of Web pages (single and multipage sites, online forms, CSS, etc.), management of Web sites and use of animated Web programming. CS 116 does not count toward a major or minor in Computer Science.

Fall and Spring Semesters. 3 semester hours.
Satisfies Creative Experience requirement.

CS 130 Principles of Computing

Students will learn to identify problems that programs can solve and how to design programs that solve problems. Program design involves a series of smaller skills, including information design, logic design, testing, and documentation. Improved skills in these areas should help with general problem solving even outside the programming paradigm.

Fall Semester. 4 semester hours.
Prerequisites: MTH 109 or concurrent.

CS 140 Computer Science I

Introduction to algorithm development and structured programming using the C++ programming language. I/O, arithmetic and logic operations, selection and looping structures, subprograms, parameter passing techniques, strings, and one and two dimensional arrays.

Spring Semester. 4 semester hours.
Prerequisites: C or higher in MTH 150.

CS 210 Advanced Computer Information Systems

Students will gain an advanced level of competency in computer hardware, operating systems, and applications software such as word processor, spreadsheet, database, HTML, and presentation programs. CS 210 is designed to progress advanced students towards completion of Microsoft Office Applications Certification (MOS). Users will become familiar with all components of the Microsoft Office Suite. CS 210 does not count toward a major or minor in computer science.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: CS 110 with C or higher or equivalent.

CS 240 Computer Science II

Continuation of CS 140. Recursion, elementary searching and sorting techniques and intermediate data structures such as records, arrays of records, stacks, queues, linked lists and introduction to binary trees.

Fall Semester. 4 semester hours.
Prerequisites: C or higher in CS 140.

CS 270 Software Engineering

Introduction to software engineering as a discipline with an emphasis on design patterns. The course will cover the stages of the software life cycle, requirements analysis, structured and object-oriented analysis and design methods. It also discusses verification/validation, quality assurance, testing methods, maintenance, documentation, project management and team structure.

Spring Semester, odd years. 3 semester hours.
Prerequisites: C or higher in CS 240.

CS 350 Database Programming

Database design principles, relational data models, query languages and optimizations, transaction processing, recovery techniques. Object-oriented databases, distributed databases. Storage and access methods including indexing, hashing and range accesses.

Fall Semester, even years. 3 semester hours.
Prerequisites: C or higher in CS 240.

ECO 201 Principles of Microeconomics

Microeconomics is the study of elementary supply and demand, the production function, individual firm behavior, and institutional effects of government and labor business operations.

Fall and Spring Semesters. 3 semester hours.

ECO 202 Principles of Macroeconomics

This course examines economics from the aggregate perspective. National, regional and international issues, policies and effects will be explored. Topics include inflation, GDP, unemployment, recessions, growth and development, government strategies such as fiscal and monetary policy, international trade and trading blocks.

Fall and Spring Semesters. 3 semester hours.

ECO 301 Intermediate Microeconomics

Economic theory with emphasis on the theory of consumer behavior, the theory of the firm and factor pricing with emphasis on capital theory.

Spring Semester. 3 semester hours.
Prerequisites: ECO 201 and 202 and MTH 150, or instructor permission.

ECO 302 Intermediate Macroeconomics

An examination of macroeconomics theory with particular emphasis on business cycles, economic growth and price instability. The interplay between theory and policy is analyzed.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: ECO 201 and 202 or instructor permission.

ECO 401 Money, Credit, and Banking

Financial institutions and their role in the determination of interest rates and the volume of money and credit. Topics include commercial banking and the Federal Reserve System and methods and goals of monetary policy.

Fall Semester. 3 semester hours.
Prerequisites: ECO 201 and 202.

ECO 490 Managerial Economics

The primary goal of this course is to provide a unifying theme of managerial decision making around the theory of the firm, to introduce an international dimension into managerial economics to reflect the globalization of tastes, production and distribution in today’s world, and to show how managerial decisions are actually made in the real world.

Spring Semester. 3 semester hours.
Satisfies Senior Experience requirement.
Prerequisites: ECO 301.

FP 200 Fundamentals of Financial Planning

This course provides an overview of the financial planning process, including communication techniques, ethics, risk tolerance, time-value-of-money concepts, financial planning applications, regulatory issues, and the legal and economic environment for financial planning. The student will gain an understanding of the role and responsibilities of a financial planner along with some analytical skills to aid in financial decision-making. This course will also help students prepare for the HS 300 national exam administered by the American College.

Fall Semester. 3 semester hours.

FP 323 Individual Life Insurance

This course describes how to determine an individual’s needs for economic security, the techniques to provide for those needs and life insurance company operations and regulation. Techniques to be studied will include life insurance and annuities. This course will also help students prepare for the HS 323 national examination administered by the American College.

Fall Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, IRM 221, FP 200, MTH 232 and BUS 212 recommended.

FP 324 Insurance Code – LH License

This course examines the Michigan Insurance Code as it relates to the general provision of insurance regulation and laws pertaining to life and health insurance. Topics include a review of statutes on licensing, unfair trade practices, and insurers’ authority to write business in the State of Michigan, and the Michigan Guarantee Fund. This course will also help students prepare for the State of Michigan Life and Health Insurance Agents Licensing Examination.

Fall Semester. 1 semester hour.
Prerequisites: 3.0 or higher GPA, IRM 221 and FP 323.

FP 328 Investments

Covers various aspects of the principles of investments and their application to financial planning. Discusses risk analysis and risk and return computations. Looks at stocks, bonds, investment companies, options and futures contracts. Includes an extended discussion of tax issues in investing, as well as issues in the practice of portfolio management, including strategic and tactical asset allocation. Provides many examples of ethical and practical issues in managing a client’s portfolio. This course will also help students prepare for the HS 328 national exam administered by the American College.

Fall Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, FP 200.

FP 350 Prospecting and Meeting Client Needs

This course offers an introduction to the life insurance sales career and the sales/planning process in the personal market. This course also examines industry proven methods for successfully identifying, selecting, and approaching prospects for financial products and services. The course will conclude with a simulated client presentation judged by professional financial planners. This course will also help students prepare for the FA 200 and FA 202 national exams administered by the American College.

Spring Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, FP 200, FP 323 and IRM 221.

FP 351 Health and Long-Term Care Financing

This course provides a thorough analysis of the alternatives available for senior clients to finance medical and long-term care, including private resources, government programs and private insurance. Emphasizes the need for care, the settings in which health care services are provided and the types of resources available to finance them. This course will also help students prepare for the HS 351 national exam administered by the American College.

Spring Semester. 2 semester hours.
Prerequisites: 3.0 or higher GPA and FP 200.

FP 421 Income Taxation

This course examines the federal income tax system with particular reference to the taxation of individuals. Covers such items as items of gross income, exclusions from gross income, deductions, tax credits, capital gains and losses, taxation of life insurance and annuities, income taxation of partners, partnerships, corporations, and shareholders. This course will also help students prepare for the HS 321 national exam administered by the American College.

Fall Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, FP 200.

FP 425 Employee Benefits

This course analyzes group insurance benefits including the governmental environment, contract provisions, marketing, underwriting, rate making, plan design, cost containment and alternative funding methods. Covers the various private programs related to the economic problems of death, old age and disability. Discusses cafeteria plans. This course will also help students prepare for the HS 325 national exam administered by the American College.

Spring Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, FP 200 and IRM 221.

FP 426 Planning for Retirement

This course focuses on retirement planning for the business, the business owner, and the individual. Covers qualified plans, nonqualified plans, and IRAs; the second part deals with retirement needs for individual clients. Emphasizes the practical knowledge needed for choosing the best retirement plan and designing a plan that will meet a client’s needs. Discusses personal retirement planning and retirement distribution planning. This course will also help students prepare for the HS 326 national exam administered by the American College.

Spring Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, FP 200.

FP 430 Fundamentals of Estate Planning

This course covers various aspects of estate and gift tax planning, including the nature, valuation, transfer, administration, and taxation of property. Provides a basic understanding of the estate and gift tax system, including strategies of estate planning. Discusses gratuitous transfers of property outright or with trusts, wills, and powers of appointment; use of the marital deduction; valuation of assets; and buy-sell agreements. Covers the client interview, fact-finding, ethical standards and development of personal estate plans. This course will also help students prepare for the HS 330 national exam administered by the American College.

Spring Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, FP 200.

FP 430 Fundamentals of Estate Planning

This course covers various aspects of estate and gift tax planning, including the nature, valuation, transfer, administration, and taxation of property. Provides a basic understanding of the estate and gift tax system, including strategies of estate planning. Discusses gratuitous transfers of property outright or with trusts, wills, and powers of appointment; use of the marital deduction; valuation of assets; and buy-sell agreements. Covers the client interview, fact-finding, ethical standards and development of personal estate plans. This course will also help students prepare for the HS 330 national exam administered by the American College.

Spring Semester. 3 semester hours.
Prerequisites: 3.0 or higher GPA, FP 200.

IDS 390 Internship (Cooperative Education)

An optional academic experience integrating classroom theory with practical work experience. Participating students are employed off-campus with businesses/organizations related to their career choice, or in an on-campus experience while completing their undergraduate course work. Students must register and pay for internship credits in the same semester as they are working. Credits cannot be deferred to a later semester.

  • Fall and Spring Semesters, Intensive Learning Term and Summer.
  • 1–15 semester hours.
  • Prerequisites: completed 30 semester hours with a 2.25 or higher cumulative GPA.
  • Students must arrange this experience with the appropriate department chairperson before registering for this course.
  • A Cooperative Education Work Experience Application must be completed prior to beginning work.
IRM 221 Principles of Insurance and Risk Management

An introduction to the concept of risk, the process of risk management, and the field of insurance, including fundamental doctrines, historical background, social value, economic influence, loss exposures and protection, insurance regulation, insurance carriers, reinsurance, marketing, underwriting and claims adjusting. This course includes examination of the Michigan Essential Insurance Act and how this law addresses the social responsibility of the insurance business and its attempt to address social injustice. This course will also help students prepare for the INS 21 national examination administered by the Insurance Institute of America.

Fall and Spring Semesters. 3 semester hours.
Prerequisites: BUS 212 recommended.

IRM 322 Personal Insurance

Designed to cover policy provisions and concepts common to various personal multiple-line property, casualty, life and health contracts. This course will also help students prepare for the INS 22 national examination administered by the Insurance Institute of America.

Fall Semester. 3 semester hours.
Prerequisites: IRM 221, cumulative GPA 3.0; BUS 212 recommended.

IRM 323 Commercial Insurance

Designed to cover policy provisions, and concepts common to various commercial multiple-line property and casualty contracts. This course will also help students prepare for the INS 23 national examination administered by the Insurance Institute of America.

Spring Semester. 3 semester hours.
Prerequisites: IRM 221, cumulative GPA 3.0; BUS 212 recommended.

IRM 324 PC Insurance Licensing

This course will prepare students to pass the Michigan PC Insurance Producers licensing exam. Areas to be reviewed include insurance basics such as contract law, basics of property and casualty insurance, personal lines, commercial lines insurance. This course will also analyze the Michigan Insurance Code as it relates to the general provisions of insurance regulation and laws pertaining to property and casualty insurance.

Spring Semester. 3 semester hours.
Prerequisites: IRM 221, cumulative GPA 3.0.

IRM 330 Ethics and Presentations

This course explores the ethical philosophies found in the world of business, including an examination of corporate social responsibility. Interactive group learning with a major emphasis on oral presentation is designed to enhance skills in critical thinking and professional business communication. Concrete dilemmas invite participants to reflect on their own moral values and analyze them in a safe environment. The course culminates in presentations to groups outside of the Olivet College community.

Spring Semester. 3 semester hours.
Satisfies Service Learning requirement.
Prerequisites: IRM 221, cumulative GPA 3.0, junior standing or instructor approval.
JMC 203 recommended.

IRM 340 Insurance Claims Principles and Practices

The course will introduce the student to the operations of professional claims handling. Two fundamental principles will be emphasized in all aspects of the class. They are customer service and utmost good faith. The course gives students the opportunity to build a strong foundation for effective investigative and litigation techniques. The student will also learn how to avoid costly lawsuits by practicing good-faith claims handling and effective communication and negotiation skills. A general claims overview will be followed with specific topic areas of Property and Liability claims handling.

Fall Semester. 3 semester hours.
Prerequisites: IRM 221 and cumulative GPA 3.0.

IRM 350 Negotiations and Persuasive Presentations

An examination of negotiating techniques, construction of a persuasive argument, assembly of information to support positions and proposals, use of spreadsheets and presentation software to create professional documents and presentations to support positions and proposals, such as the development of a new product or the sale of new insurance coverage to a risk manager or new exposure to an insurance/reinsurance underwriter.

Fall Semester. 3 semester hours.
Prerequisites: IRM 323, cumulative GPA 3.0.

IRM 454 Risk Management

This course examines the process of risk management for a private firm in-depth using many of the concepts and tools studied in other insurance courses. Topics include the identification and analysis of loss exposures; examination of alternatives to traditional insurance; the use of forecasting, cash flow analysis and information systems in the risk management process. This course will incorporate the use of case studies and a risk management simulation “game” exercise. This course will also help students prepare for the ARM 54 national examination administered by the Insurance Institute of America.

Fall Semester. 3 semester hours.
Prerequisites: IRM 221, IRM 323, BUS 316,and MTH 232; cumulative GPA 3.0.

IRM 480 Project Management for Property and Casualty Insurance

This project management course examines project management in theory and practice and the roles and responsibilities of the project manager. The course offers a practical approach to managing projects, focusing on organizing, planning, and controlling the efforts of the project. Case studies, active participation in team exercises, and practical information reinforce learning. At the end of the course, students will understand why project management requires a high degree of professionalism, reasoning and critical thinking, oral and written communication skills, and how to manage successful future projects.

NOTE: Students are expected to integrate information from prior insurance, risk management, accounting, finance, mathematics, and computer science courses in order to successfully complete the class project.

Spring Semester. 3 semester hours.
Prerequisites: IRM 221, IRM 322, IRM 323, and MTH 232; cumulative GPA 3.0.

IRM 482 Studies in Insurance and Risk Management: Variable Topics

An examination of selected areas of concern or interest not intensively covered in other courses. The focus will be substantive as well as analytical. Topics may include such areas as further investigation into reinsurance, claims, commercial underwriting, surplus lines insurance, employee benefits, estate planning, ethics, financial analysis and management of insurance companies, risk management alternatives – financing or control, international risk management, or any other insurance topics where there is student interest or business community need. May be repeated for credit with a different topic.

As announced. 3 semester hours.
Prerequisites: IRM 221, 322, and 323; cumulative GPA 3.0; and senior standing or instructor permission.

IRM 483 Agency Operations

This course is designed to cover the operational management of an insurance agency. It examines all aspects of management such as personnel, sales and marketing. Further topics are agency image, legal and ethical practices. This course will also help students prepare for the AAI 83 national examination administered by the Insurance Institute of America.

Fall Semester. 3 semester hours.
Prerequisites: IRM 221, cumulative GPA 3.0.

IRM 490 Strategic Management of Insurance Enterprise

This course examines the strategic management of an insurance company with a focus on financial management, U.S. regulation, and an overview of operations in a global marketplace – including consideration of differences in culture, language, regulations, laws and political risks. The core operations of marketing, underwriting, reinsurance, ratemaking and claims adjusting are studied. This course will incorporate the use of an insurance company financial management simulation “game” exercise. This course will also help students prepare for the CPCU 520 national examination administered by the American Institute for Chartered Property Casualty Underwriters.

Spring Semester. 3 semester hours.
Prerequisites: IRM 221, MTH 232, and cumulative GPA 3.0; IRM 322 and 323 recommended.
Satisfies Senior Experience requirement.

MTH 109 College Algebra (or placement evaluation)

Linear and quadratic equations, operations and equations involving polynomials, rational expressions, radicals, graphing equations, systems of equations and exponentials and logarithms.

NOTE: This course does not satisfy the Mathematics Proficiency requirement; intended for students who need additional algebra in preparation for more advanced mathematics, science, or statistical courses.

Fall and Spring Semesters. 4 semester hours.

MTH 150 Pre-Calculus (or placement evaluation)

Theory and application of trigonometric functions and their graphs, trigonometric identities and equations, inverse trigonometric functions. Polynominal, rational, exponential and logarithmic functions with an introduction to limits.

Fall and Spring Semesters. 4 semester hours.
Satisfies Mathematics Proficiency requirement with a grade of C or higher.
Serves as prerequisite for many mathematics and science courses.
Prerequisites: MTH 109 with a grade of C or higher or placement evaluation, or completion of two years of high school algebra.

MTH 232 Statistics

Statistics and probability. Including measures of central tendency and dispersion, normal and binomial probability distributions, hypothesis testing, confidence intervals, correlation, regression and nonparametric tests. Statistical software introduction.

Fall and Spring Semesters. 4 semester hours.
Satisfies Mathematics Proficiency requirement with a grade of C or higher.
Prerequisites: MTH 109 or completion of two years of high school algebra.

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