C o u r s e D e s c r i p t i o n s

This is the Course Descriptions section of the 1996-1999University of Minnesota Carlson School of Management Bulletin.

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Symbols—The following symbols areused throughout the course descriptions.

§ ....... Credit will not be granted if credithas been received for the courselisted after this symbol.

¶ ....... Concurrent registration is required(or allowed) in the course listedafter this symbol.

# ....... Approval of the instructor isrequired for registration.

∆ .......Approval of the departmentoffering the course is required forregistration.

❏ ...... Approval of the college offeringthe course is required forregistration.

, ........ The comma, used in prerequisitelistings, means “and.”

UC .... University College (formerlyCEE)

A prerequisite course listed by numberonly (e.g., prereq 5246) is in the samedepartment as the course beingdescribed.

Note: The prerequisite for all 3xxx and5xxx CSOM courses is 90 quarter creditsand a 2.80 overall GPA or admission to aCSOM upper division major program.

Accounting (Acct)645 Management & Economics

Accounting has been termed “the language ofbusiness.” It is an essential tool for planningand controlling both profit-seeking andnonprofit organizations. The growingcomplexity and internationalization of businessand the need for more efficient and effectiveapproaches to solving business problemsincreases the demand for professionalaccountants. Effective operations planningdemands that relevant data be collected,analyzed, and reported systematically andcoherently. Management needs assistancedirecting activities to meet objectives andadjust operations to fit new conditions.

Providing information for planning and controlis the function of the controller, the chiefaccounting officer of the firm.

Accountant-prepared data such as financialstatements and schedules and related notes, areused extensively by investors, financialanalysts, and credit grantors as input for theirinvestment decisions and recommendations.Credibility of the accountant-prepared financialrepresentations is enhanced by the auditors’attestation as to their fairness.

Some B.S.B.-accounting students go on toM.B.A. programs, law school, or doctoralprograms. Employment opportunities foraccountants extend to public accounting,industry, nonprofit organizations, andgovernment units.

Certified public accountant (C.P.A.) is theprofessional designation for those who analyzeoperations and financial position to provide anindependent opinion on the financial statementsof an organization. Certified managementaccountant (C.M.A.) is the professionaldesignation for those accountants who serve asinternal financial advisers to management. Thecertified internal auditor (C.I.A.) servesmanagement and corporate boards of directorsby analyzing and reporting on internal controlsand the implementation and effects ofmanagement policies. The C.P.A. designationis issued by the state of Minnesota, the C.M.A.by the Institute of Management Accounting,and the C.I.A. by the Institute of InternalAuditors. Each requires practical experienceand passing scores on extensive qualifyingexaminations. Completion of the accountingprogram serves as the basic preparation forthese examinations and enables graduates totake the examinations in the area of their careerinterest immediately after graduation.

Courses offered develop students’ analyticalabilities as well as present the usefulness andlimitations of accounting procedures andreports. Students interested in becoming aprofessional accountant should refer to theB.S.B.-accounting program requirementsdescribed in this bulletin beginning on page 16.

Acct 3101 Pre-Test—If you take your lowerdivision financial accounting course(s)—equivalent to Acct 1050—at an institution otherthan the University of Minnesota or you earned

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less than a B- in Acct 1050 and plan to takeAcct 3101, you must pass a pre-test to registerfor Acct 3101. Contact the UndergraduateStudies Office in 290 Hubert H. HumphreyCenter for details.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.Acct 1050. Introduction to FinancialReporting. (5 cr; prereq 40 cr; A-F only)Basic concepts of measurement and valuation thatunderlie development of financial reports for externalusers. Financial statement preparation, analysis ofalternative valuation approaches, interpretation offinancial statement information.

Acct 3001. Introduction to ManagementAccounting. (4 cr; prereq 1050; A-F only)Management accounting as the main informationcollection and analysis technology in an organization.Analysis of cost-volume-profit relationships, budgetingand analysis of variances from budgeted performance,issues relating to decentralized organizational design,activity-based costing.

Acct 3101. Intermediate Financial Reporting.(4 cr; prereq minimum grade of B- in 1050; A-Fonly)Relationships between economic events and theirrepresentation in financial statements aimed at externalusers. Income determination, revenue recognition, assetvaluation, capitalization of corporations, cash flowstatements.

Acct 3199. Internship in Public Accounting.(3 cr; prereq 5125, #; S-N only)Full-time work for a public accounting firm plus awritten report on the work experience.

Acct 3201. Intermediate ManagementAccounting. (4 cr; prereq 3001; A-F only)Incentives and management control in the presence ofuncertainty and asymmetric information. Incentiveproperties of accounting measurements in largedecentralized organizations. Moral hazard, adverseselection, informational rents. Accounting controlmechanisms such as variance analysis, budgeting,standard setting, and transfer pricing developed forinformationally complicated environments. Recentdevelopments in accounting and economics literature.

Acct 3299. Internship in ManagementAccounting. (3 cr; prereq 3201, #; S-N only)Full-time work in general accounting, cost accounting,or internal auditing in an industrial or governmentalorganization plus a written report analyzing the workexperience.

Acct 5101. Corporate Financial Reporting.(4 cr; prereq 1050 or MBA 8030, MBA student; A-Fonly; should not be taken by students who havecompleted 3101)Preparing and interpreting corporate financial reports.Income determinations, revenue recognition, income taxallocation, inventories, fixed assets, long-term debt,leases.

Acct 5102. Advanced Financial Reporting I.(4 cr; prereq 3101 or 5101; A-F only)Valuation problems in financial reporting with emphasison liabilities. Leases, deferred taxes, pensions, otherpost-retirement benefits, debt restructuring, earnings pershare.

Acct 5125. Auditing Principles andProcedures. (4 cr; prereq 3101 or 5101; A-F only)Auditing financial information systems. Independentaudits and internal auditing. Ethics. Legalresponsibilities.

Acct 5126. Internal Auditing. (4 cr; prereq5102, 3201 or 5201; A-F only)Financial and operational auditing. Standards. Managingthe function.

Acct 5135. Income Tax Accounting. (4 cr;prereq 1050; A-F only)Principles of federal income taxation of varioustaxpaying entities.

Acct 5160. Financial Statement Analysis.(4 cr; prereq 1050 or MBA 8030; A-F only)Interpreting and analyzing financial statements andschedules for investors and other users.

Acct 5180. Advanced Financial Reporting II.(4 cr; prereq 5102; A-F only)Partnerships, business combinations, consolidatedfinancial statements, foreign currency transactions andtranslations, and reporting issues in governmentalaccounting.

Acct 5201. Advanced ManagementAccounting. (4 cr; prereq 3201 or MBA 8035; A-Fonly)Design of internal control systems in decentralizedorganizations, focusing on strategic interactions amongthe internal control system, market share, and pricingstrategies. Performance evaluation, transfer pricing, costallocations.

Acct 5230. Corporate Taxation. (4 cr; prereq5135, MBT program approval; A-F only)Tax consequences of forming, operating, and liquidatinga business corporation.

Acct 5236. Taxation II. (4 cr; prereq 5135; A-Fonly)Corporate tax issues, partnership tax issues, estate andgift taxes, tax research.

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Acct 5300. Current Topics in ManagerialAccounting. (4 cr [may be repeated for cr]; prereq3201 or 5201; A-F only)Selected topic(s) in managerial accounting. Topics varyquarterly.

Acct 5310. International Accounting. (4 cr;prereq 3001)Macroeconomic concepts of international economics.Accounting policies and approaches among nations.

Acct 5340. Partnership Taxation. (4 cr; prereq5135, MBT program approval; A-F only)Tax consequences of forming, operating, and dissolvinga partnership.

Acct 5390. Current Topics in Taxation. (Cr ar;prereq 5135 or equiv, MBT program approval; A-Fonly)Selected topics in taxation. Topics vary quarterly.

Actuarial ScienceSee Risk Management and Insurance.

Business Administration (BA)290 Hubert H. Humphrey Center

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.BA 1001. Information Technology Skills. (2 cr;prereq CSOM student; S-N only)Self-paced course to assess students’ computing skillsand identify resources to help them develop necessaryskills in word processing, spreadsheets, presentationsoftware, e-mail, LUMINA, remote access, and theWorld Wide Web.

BA 1350. Introduction to Business andBusiness Careers. (4 cr; prereq 45 cr, CSOMstudent; A-F only)A contemporary introduction to issues related to thepurpose of business; business career opportunities; basicskills for a successful business career.

BA 1550. Business Statistics: Data Sources,Presentation, and Analysis. (4 cr; prereq 30 cr,college algebra; A-F only)Understanding and applying exploratory data analysis,basic inferential procedures, statistical sampling anddesign, and regression and time series analysis.Improving statistical thinking capabilities; how theseabilities lead to better decision making.

BA 3000. Orientation for Managers. (2 cr;required of students planning to use the CSOMCareer Services Center; S-N only)Integrated approach to career exploration, valuesclarification, and self-development for students seekingmanagement careers. Internal and external factors thatshape personal life and professional careers.

BA 3040. International Environment ofBusiness. (4 cr; prereq Mgmt 3001; A-F only)Critical issues and concepts influencing the conduct ofbusiness in a global society. Should be completed beforeadditional CSOM international business courses.

BA 3998. Independent Study. (Cr ar [may berepeated for cr]; prereq consent of faculty memberwilling to supervise study, ❏ )Student-initiated project and/or independent course ofstudy.

Business, Government, andSociety (BGS)835 Management & Economics

The business, government, and society areaexamines the complex relationships betweenbusiness and its economic, social, political-legal, and technological environments. Withclose intellectual ties with strategy formulationand implementation, the area focuses oninteractions from the perspectives of both thepracticing manager and public policy. It alsoemphasizes international aspects of businessmanagement.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.BGS 3002. Business and Society. (4 cr; UConly)Basic economic and social goals and various attempts tomeet them, with emphasis on American society.Business as an institution; its relationships to otherinstitutions and society. Ethical and practical conflicts inthe role of firm and manager examined in the context ofthe public policy process. Current social issues and theirimpact on business.

BGS 3004. International Business. (4 cr)World business with emphasis on the global economy,international concepts, global business structures,comparative cultures and environments, global businessstrategies, multinational corporations and technology,and personnel and operations in host nations. Resourcequestions in their global contexts: quantities, demands,distribution.

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BGS 3014. Topics in International Business,Government, and Society. (4 cr)Selected topics and problems of current interestconsidered in depth. Class discussions and courseprojects. Topics vary quarterly depending on instructor.

BGS 3019. Topics in Business, Government,and Society. (4 cr)Selected topics and problems of current interestconsidered in depth. Class discussions and courseprojects. Topics vary quarterly depending on instructor.

Business Law (BLaw)645 Management & Economics

Courses in business law provide students withan understanding of legal processes and theprinciples of legal reasoning and decision-making techniques. They also aid students inrecognizing legal pitfalls involved in thespecific functions of business, such as finance,marketing, and personnel management. TheAmerican legal system is scrutinized within itshistorical, philosophical, and societal contextsvia lectures, readings, analysis of judicialdecisions, and class discussions.

Business law is not offered as a separatefield of specialization in CSOM. Rather, thecourses in this area provide a sequence ofelective offerings for management students.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.BLaw 3058. Introduction to Law, the Law ofContracts and Sales Contracts. (4 cr, §8158;prereq Econ 1101 or equiv)Origin of law, its place in and effect on society; historyand development of law; system of courts; legalprocedure. Law of contracts as the basic law affectingbusiness transactions. Laws affecting the sale of goodsand contracts.

BLaw 3078. Agency, Partnerships,Corporations, and Commercial Paper. (4 cr,§8278; prereq 3058)Law affecting relationship between principal and agent,master and servant, employer and employee. Partnershipand corporate forms of business entities, includingmethods of creating the relationships. Law developed toregulate and control these organizations and theirmembers and contracts referred to as commercial papers(negotiable instruments), with emphasis on effect of theUniform Commercial Code.

BLaw 3088. Law of Personal Property, RealProperty, Wills, and Estates. (4 cr, §8288; prereq3058)Basic concepts of personal property, including rights ofpossessors, bailees, and finders and holders of securityinterests. Real property law. Transfers of ownership,control of and encumbering such interests. The law ofwills and estates in passing rights to property in event ofdeath.

Finance (BFin)735 Management & Economics

Principles of finance are critical to making theright financial decisions and all finance coursesacquaint students with these principles.

Finance majors may have an emphasis inone of two areas. For students who wantpositions in treasury or controller offices, Track1 is recommended: BFin 3000 (core), BFin3100, BFin 3200, BFin 3300, BFin 3400, BFin3500, and any two from Acct 3101, Acct 3201,Acct 5135, Acct 5160, and BFin 3504.

For students who want money managementpositions, Track 2 is recommended: Acct 5160,BFin 3000 (core), BFin 3100, BFin 3200, BFin3300, and any three from BFin 3400, BFin3501, BFin 3502, BFin 3503, and BFin 3504.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.BFin 3000. Finance Fundamentals. (4 cr, §MBA8040; prereq Acct 1050)Survey of financial markets and comprehensiveintroduction to finance, including valuation theory andmanagement decision making with respect to sourcesand uses of funds.

BFin 3100. Financial Management. (4 cr; prereq3000)Continuation of BFin 3000. Corporate financing anddividend policies, cost of capital estimation, leasing,financial planning. Viewpoint of a corporation’s chieffinancial officer used. Lectures, balanced by casediscussions and readings, prepare students to applyfinance principles to actual business situations.

BFin 3200. Financial Markets and InterestRates. (4 cr; prereq 3000 or #)Survey of financial markets in developed economies.Emphasis on fixed-income markets. Term structure ofinterest rates. Inflation rate and interest rates. Exchangerates and interest rates. Introduction to interest ratefutures.

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BFin 3300. Securities Analysis and PortfolioManagement. (4 cr, §8300; prereq 3000)Decision procedures in a variety of financial markets.Banking system and other financial intermediaries, risk-return relationships of various marketable securities,analytical techniques of portfolio management in thecontext of the nation’s changing financial markets.

BFin 3400. International FinancialManagement. (4 cr; prereq 3000 or #; BFin 3100recommended)Implications of modern finance theory for multinationalcorporations. Alternative exchange rate regimes. Risksto which each regime subjects any multinationalcorporation and how different risks influence basicfinancial decisions.

BFin 3500. Advanced Corporate Finance. (4 cr;prereq 3000, 3100 or #)Use of corporate finance theory to decide courses ofaction for a variety of case companies, each with its ownproblem and setting. Investment and the cost of capital.Capital structure. Dividend policy. Financing decisions.Corporate restructuring.

BFin 3501. Futures: Markets and Uses. (4 cr;prereq 3300 or #)Markets for financial futures. Rational pricing of futures.Uses of futures by corporations and portfolio managers.

BFin 3502. Options: Markets and Uses. (4 cr;prereq 3300 or #)Markets for financial options. Rational pricing ofoptions. Uses of stock, stock index, bond, currency, andfutures options in managing portfolio, interest rate, andcurrency risks.

BFin 3504. Investment Banking. (4 cr; prereq3000, 3100 or #)How investment bankers serve their clients. Legalframework of investment banking. Underwriting.Mergers and acquisitions. Motives and tactics of take-over companies and target companies. Managementbuyouts.

BFin 3601. Financial Management ofDepository Institutions. (4 cr; prereq 3000 or #)Comprehensive introduction to principles of bankfinancial management. Bank risk analysis, lending,investments, liquidity, asset-liability management.Lectures, case discussions.

Foreign Studies (FoSt)290 Hubert H. Humphrey Center

Through foreign studies management courses,students can receive residence credit for anumber of study abroad programs sponsored bythe Council on International EducationalExchange (CIEE), the Institute of EuropeanStudies (IES), and the Denmark InternationalStudy Program. Inquiries concerning these

programs should be directed to the study abroadadviser in the Undergraduate Studies Office, 290Hubert H. Humphrey Center (612/624-3313).

Industrial Relations (IR)537 Management & Economics

Industrial relations is an interdisciplinary fieldthat uses the specialized knowledge andmethods of various disciplines for an integratedapproach to problems of employmentrelationships, employment and unemployment,wage levels, collective bargaining, and therecruitment and maintenance of employee workteams in industry. These problems are diverseand many disciplines contribute to theirunderstanding and solution.

Professional training in industrial relationsis offered in graduate programs leading to M.A.and Ph.D. degrees in industrial relations.

No undergraduate degree major orspecialization is offered. However, variousindustrial relations courses may be taken aselectives and included in programs forundergraduate degrees in businessadministration, engineering, and the liberalarts.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.IR 3002. Personnel and Industrial Relations.(4 cr, §8002; prereq Econ 1101, Econ 1102, Psy1001)Human resource management function in organizations.Labor market, recruitment, selection, training,compensation, labor relations. Changing nature of theworld of work, emerging legal issues, discrimination inpay and employment, work performance and itsassessment, effects of technological change on jobs andemployment. Lecture presentations, discussion, casestudies, simulation exercises.

IR 3007. Collective Bargaining and LaborRelations. (4 cr)Analysis of roles of unions and collective bargaining incontemporary American society. Negotiations andrelated policies and practices of employers, employees,unions, legislative bodies, and the public in dealing withquestions of worker representation in the private andpublic sectors. Impact and transference of collectivebargaining principles from the union sector to the non-union sector. Lecture presentations, discussion, casestudies, bargaining simulations.

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IR 3010. The Individual and the Organization.(4 cr)The human side of organizations, focusing on workersand how they enter and succeed in the work setting.Theories and techniques of employment interviewing;training needs analysis; career planning; managementdevelopment; turnover, outplacement, and retirement;understanding leadership roles and styles; workmotivation; organization culture and job design;planning for change. Lecture presentations, discussion,case studies, simulation exercises.

IR 3032. Governing the Workplace:Comparative Perspectives. (4 cr)Workplace governance: Who should be allowed to makethe rules governing the employment relationshipAlternative systems (e.g., business, government,employees, unions, market forces, mixed models). U.S.and international experiences. Models for the future.

IR 5000. Topics in Personnel and IndustrialRelations. (Cr ar [may be repeated for cr])Selected topics of current relevance to human resourcemanagement.

IR 5002. Systems of Conflict and DisputeResolution. (4 cr)Theoretical and practical treatment of resolving conflictin interpersonal, work-related, community, business, andinternational settings. Lecture presentations, discussion,observation of actual dispute resolution sessions, and labexercises, with participation in various disputeresolution simulations applied to real-world conflicts.

IR 5006. Labor Policy. (3 cr, §PA 5430)Analysis of public policies regarding employment,unions, and labor markets. Public programs affectingwages, unemployment, training, worker mobility,security, and quality of work life. Policy implications ofchanging nature of work.

IR 5990. Independent Study in Personnel andIndustrial Relations. (Cr ar [may be repeated forcr])Individual readings or research topics in human resourcemanagement.

Information and DecisionSciences (IDSc)395 Hubert H. Humphrey Center

Information systems, according to NobelLaureate Herbert Simon, are “the infrastructureof the global economy.” The managementinformation systems (MIS) program at theCarlson School was the first in the nation and iscurrently rated as one of the top programs of itskind.

Management information systems focuseson problems and activities associated with theuse of information systems and information and

communication technology resources.Information and decision sciences includesmethods, tools, and approaches used foracquiring, storing, manipulating, retrieving, andpresenting information to support individual,group, and organizational communication anddecision making. The MIS undergraduate majorprepares students to be leaders inconceptualizing, prescribing, developing, anddelivering information systems applicationsthat support business processes andmanagement decision making. Students learnthe design, operation, management, andfunctions of information systems inorganizations. The curriculum enables studentsto understand various MIS methods, includingsystems analysis and design, database systems,telecommunications, and decision support. MISgraduates are often employed as businessapplication programmers and informationsystems consultants.

Several IDSc courses may be of interest tonon-MIS majors. IDSc 3110 and 3120 providestudents with an in-depth knowledge andunderstanding of a specific information systemsenvironment. IDSc 3420 focuses oninformation technology in the financial functionand IDSc 5410 focuses on the use ofinformation technology to support decisionmaking across all functions.

The MIS major consists of the followingcoursework: IDSc 3110*, IDSc 3120, IDSc3130, IDSc 3140, IDSc 3150, IDSc 3160, andone of the following: IDSc 3420, IDSc 3430,IDSc 3450, IDSc 3990**, or IDSc 5410.Students must take these courses in thesequence in which they are offered.

* The prerequisite for this course is IDSc 3030, whichmust be completed no later than fall quarter of yourjunior year.

** An optional internship is available. Internship creditsvary from one to four and a grade is assigned usingA-F grading. Generally, the internship requires part-time work during one or more quarters. Students musthave completed or be registered in IDSc 3120 toapply for an internship through IDSc 3990. Theinternship usually begins spring quarter and endsduring fall quarter and is custom-designed to meetestablished learning objectives. A “ work practice”plan is required and must be approved by thesponsoring organization and the Department ofInformation and Decision Sciences. Contact thedepartment for more information.

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Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.IDSc 3030. Information Systems andInformation Management. (4 cr; prereq CSOMcomputer skill module or equiv exper; A-F only)Concepts and approaches for developing and usinginformation systems in support of business processes.Basic technology components of modern informationsystems (hardware, software, databases, andtelecommunications), the impact of information systemsand organizations, the processes by which they arecreated and changed, and selected managerial issues.Business management understanding of the techniquesfor designing systems, including several techniques fordocumenting business processes, designing databases tosupport those processes, and using those databases tosatisfy business information needs. Issues in managinginformation technology, including systems developmentalternatives, business process redesign, appropriate useof technology standards, security, ethical considerations,and societal impacts.

IDSc 3110. Information Systems ApplicationDevelopment I. (4 cr; prereq 3030; A-F only)User interface design and development, database designand querying, distributed computing networks, operatingenvironments. Hands-on experience with selectedapplication systems development tools.

IDSc 3120. Information Systems ApplicationDevelopment II. (4 cr; prereq 3110; A-F only)Continuation of IDSc 3110. Follow a systemsdevelopment life cycle through technical design andconstruction to testing and quality assurance.

IDSc 3130. Business Process Analysis andDesign. (4 cr; prereq 3110 or #; A-F only)Concepts and methods of information requirementsdetermination, systems analysis, and business processdesign. Hands-on experience developing informationsystems (IS) specifications. Enterprise analysis (ISstrategic planning, IS architectures, enterprisemodeling), operational process modeling (businessprocess, entity relationship, and object modeling), andmanagerial information requirements determination.

IDSc 3140. Management of BusinessApplication Development Projects. (4 cr;prereq 3120, 3130, MIS major; A-F only)Concepts, techniques, activities, and issues for systemsdevelopment projects. Held almost entirely off-site withassistance of corporate sponsors. Student teams carry outstructured projects for software cost estimation, projectscheduling, and quality assurance. Use of tools andmanagerial techniques in support of these activities.

IDSc 3150. Information TechnologyInfrastructure. (4 cr; prereq 3120; A-F only)Information technology (IT) including networks,computing hardware and operating systems, databasesystems, and application development systems. Tools toanalyze, design, build, operate, and maintain theseelements. Processes to identify, evaluate, and selectappropriate platforms and tools. Role of the informationsystems specialist and the organization in developing,deploying, and managing the IT infrastructure. CASEand other analytic and descriptive tools for data, process,platform, and network modeling.

IDSc 3160. Information SystemsManagement. (4 cr; prereq 3140, 3150; A-F only)Roles, organizational structures, relationships withfunctional units of business, information systemsplanning, and business strategy. Developing skills andcareer paths. Systems development management:acquisition, subcontracting, outsourcing, systemsconstruction. Project management: project staffing andleadership, cost and effort estimation, project trackingand reporting, configuration and change management.

IDSc 3420. Financial Information Systemsand Technologies. (4 cr; prereq 3030 or Acct 1050or BFin 3000; A-F only)Information systems in financial services and corporatefinancial operations, financial markets, managerialaccounting, and auditing. Traditional versus electronicfinancial markets, domestic and international markets,computerized trading, financial and managerialaccounting; electronic corporate financial reporting,electronic financial commerce, and personal investingand money fund management.

IDSc 3430. Advanced Database Developmentand Management. (4 cr; prereq 3120; A-F only)Developing, using, and managing information resourcesin an organization. Advanced topics in database designand management systems. Data planning andinformation architectures. Data modeling methodologiesand computerized database design support tools(CASE). Advanced data manipulation languages,comprehensive DBMS facilities, and Object-OrientedDBMS. Data warehousing and OLAP tools. Deployingand managing databases in a distributed environment.Issues of data integrity, security, and privacy. Role,organization, functions, and tools of the databaseadministrator.

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IDSc 3450. Telecommunications. (4 cr; prereq3120; A-F only)Telecommunications media, signaling, data linking andnetworking concepts and protocols.Telecommunications technology, including fiber optics,satellites, and radio. Structure of Wide Area Networks(WAN)—public, private, circuit, packet. Local AreaNetwork (LAN) architecture and protocols, includinginterLAN technology such as bridges, routers, and WANinterconnections via frame relay and ATM. LANsoftware, including client and server operation. CommonLAN operating systems structure and operation.Network protocols. Internet and Internet tools, includingTelnet, File Transfer Protocol (FTP), e-mail, X.400,X.500, Gopher, and World Wide Web (WWW). Internetinformation access and retrieval. Client/servercomputing. Telecommunications environment, includinghistory, legislation, regulation, standards, andglobalization.

IDSc 3460. Information Systems SpecialTopics. (4 cr; prereq 3120; A-F only; offered whenfeasible)Current topics and developments in informationsystems.

IDSc 3990. Information Systems IndustryInternship. (1-4 cr; prereq 3120 or ¶3120, ∆; A-Fonly)Learning by participating in information systemsactivities and receiving appropriate training from thesponsoring organization. Custom-designed to meet pre-established learning objectives. “Work practice” plan isrequired and must be approved by the sponsoringorganization and the Department of Information andDecision Sciences undergraduate director beforeregistering.

IDSc 3995. Independent Study in InformationSystems. (Cr ar; prereq #)

IDSc 5410. Decision Support and ExpertSystems. (4 cr; prereq 3030 or MBA 8225 or equiv;open to nondegree students with equiv exper; A-Fonly)Modern decision technologies, including artificialintelligence, expert systems, genetic algorithms, neuralnetworks, electronic meeting systems, and groupdecision support. How highly effective decision supportsystems can be developed using traditional approachesand tools (e.g., specialized extensions to popularspreadsheet packages or using standard softwaredevelopment approaches). Software demonstrations andapplications of decision technologies to problems infinance, marketing, manufacturing, services andhealthcare management, and information systemsconsulting. Individual or group projects based oninterests and career goals.

Logistics Management (LM)1235 Management & Economics

Logistics management deals with managing theflow of physical goods in a business firm orother organization. Logistics activities are vitalin controlling costs and providing appropriateservice to customers and include transportation,warehouse operation, inventory management,production scheduling, materials handling,packaging, order processing, plant andwarehouse location, and customer service.

Logistics activities cut across severalmanagement areas in a business firm or otherorganization, which results in uniquecoordination, jurisdictional, and managementproblems. Logistics management is oftenreferred to as an “interdisciplinary” activity orfield. Its closest relationships are withoperations management, marketing, andfinance, although there are logisticsrelationships with accounting, informationsystems management, personnel management,and other areas of an organization.

Increasing recognition given to the logisticsfunction in American business firms and otherorganizations over the past 25 years has led toincreasing job opportunities and rising incomesfor those engaged in logistics management.

Courses offered in logistics managementprovide a useful background and preparationfor a variety of careers with business firms,government agencies, and other organizationsthat have logistics systems, and also withtransportation companies and consulting firms.Research and teaching opportunities in logisticsmanagement are available.

The logistics management track within themarketing and logistics management majorprepares students for entry-level positions inlogistics and distribution. Students in this trackmust take LM 3000, LM 5020, Mktg 3000,Mktg 3010, Mktg 3040, Mktg 3060, and Mktg3080.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.

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LM 3000. Introduction to LogisticsManagement. (4 cr; prereq Econ 1101 or equiv)Managing the flow of an organization’s physicalproducts (physical supply and distribution) and thelinkages between the process of controlling the physicalflow of products and the organization’s major functions,i.e., finance, marketing, and operations management.Logistics topics and analysis of the impact of logisticstopics on other functional areas. Simulation exercise.

LM 5010. Topics in Logistics Management.(4 cr [may be repeated for cr]; prereq 3000 or 5020or 5030, #)Specialized topics in logistics management; topics varyquarterly. Simulation exercises.

LM 5020. Advanced Logistics Management.(4 cr; prereq 3000 or 5030 or equiv)Managing the flow of an organization’s physicalproducts (physical supply and distribution).Transportation alternatives, customer service, inventorymanagement, location decisions, warehousing, logisticsinformation systems, international logistics, logisticssystem design. Case problems.

LM 5030. Principles of Transportation. (4 cr;prereq Econ 1101 or equiv)Organizational, economic, and service aspects of theU.S. transportation system, including rail, highway,water, pipeline, and air transportation. Decision makingin transportation companies. Government promotionaland regulatory policy regarding transportation.

Management (Mgmt)835 Management & Economics

Management and organizational principles areinvolved whenever people work toward acommon objective. Management functions areanalyzed using case examples of organizationalsituations and research evidence and theory todevelop insights, skill in knowledgeapplications, and professional attitudes thatenhance management and leadershipperformance. Most of the course content isapplicable to administrative situations in eitherbusiness or nonbusiness environments.

Mgmt 3001 is an introductory course andmay be followed by more specialized andadvanced courses. Mgmt 3004 is a generalpolicy course that helps students develop skillsin identifying, analyzing, and solving problems,strategic planning, and direction setting. Theseskills require students to apply knowledge offrameworks developed in Mgmt 3001 andknowledge acquired in other subject areas suchas accounting, economics, finance, andmarketing. Mgmt 3001 is recommended for

students who have completed or are completingthe last of the other “functional core” courses.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.Mgmt 3001. Fundamentals of Management.(4 cr, §8001)Leadership and management functions required toestablish goals, policies, procedures, and plans.Motivation, planning and control systems, concepts oforganizational structure and behavior.

Mgmt 3002. Psychology in Management.(4 cr, §8006)Behavior principles, methods, and skills fundamental tomanagerial competence in preventing and solvingproblems within and between individuals and groupsand aiding in effective use of human resources. Variouslab procedures used to study these principles, methods,and skills and furnish practice in applying them tomanagement problems.

Mgmt 3004. Business Policy: StrategyFormulation and Implementation. (5 cr; prereqsr, completion of or concurrent regis in otherfunctional core courses)Identifying and analyzing strategic issues and problems,establishing corporate or divisional goals, and designingrealistic programs of action. Case analysis anddiscussion. Students meet in small groups to preparecases and presentations. Concepts and concepts, tools,and theories previously presented in other coursesapplied to solve goal selection and strategyimplementation problems. Viewpoint of the general linemanager (department, division, or executive level) used.

Mgmt 3006. Small Business Management.(4 cr, §5101 if topic was small business mgmt)Role of small business, alternative entry strategies,functional expertise required as the firm competes in itsenvironment.

Mgmt 3008. Entrepreneurship and theSmaller Enterprise. (4 cr; prereq completion offunctional core courses or #)Assessing opportunities and constraints in establishingand managing one’s own firm; structuring a newventure, buying into an existing enterprise, owning anenterprise vs. becoming a principal employee in a newventure. Case method.

Mgmt 5050. Management of Innovation andChange. (4 cr)Application of theories and research on how neworganizational programs, products, and technologies aredeveloped and implemented and what paths in thesejourneys lead to success and failure. Readings, cases,lectures, and projects used to build diagnostic skills andprinciples for managing organizational innovation andchange. Offered concurrently with Mgmt 8050.

MANAGEMENT

COURSE DESCRIPTIONS

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Mgmt 5101. Advanced Topics inManagement. (Cr ar [may be repeated for cr];prereq sr or grad, #)Specialized topics in management; topics varyquarterly.

Marketing (Mktg)1235 Management & Economics

Marketing is concerned with the flow of goodsand services through the economy and thedistribution of both industrial and consumergoods. Because more than half the consumer’sdollar goes to pay for marketing services,marketing is a very significant part of theeconomy and the efficiency with whichmarketing activities are carried out has majorsocial implications.

Manufacturers, wholesalers, retailers, andother business firms are faced with the need toformulate and implement marketing policies bydeveloping and executing marketing strategiesand programs. Among the major marketingdecision areas are product development andproduct line expansion, selection of distributionchannels, maintenance and control of a salesorganization, development of a promotionalprogram, and establishment of service policiesand pricing policies and methods.

Marketing offers a wide range ofemployment opportunities in sales, advertising,retailing, sales promotion, brand management,international marketing, and marketingresearch. If you are interested in a career inmarketing research or brand management,consider completing an M.B.A. degree.

The marketing and logistics managementmajor (MLM) provides a coherent, broad-basedstudy leading to job market and professionalopportunities. Within the MLM major, studentschoose one of the following career tracks.

Advertising managementLogistics managementMarketing managementRetail sales/buyingSales management

MLM majors must take Mktg 3000, Mktg3010, Mktg 3040, and Mktg 3080. Studentsmust select three more courses from anapproved list to provide specialization neededfor specific job opportunities. These courses

include those offered by the Department ofMarketing and Logistics Management, as wellas several courses outside the department and/or school. (See descriptions of career tracks andapproved courses earlier in this bulletin.)

You may also take electives outside ofCSOM to complete a program that best meetsyour needs. Agricultural economics,economics, geography, home economics,journalism, psychology, sociology, and speech-communication may be of interest. Consult anUndergraduate Studies Office adviser in 290Hubert H. Humphrey Center for assistance inchoosing these electives.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.Mktg 3000. Principles of Marketing. (4 cr;prereq Econ 1101 or equiv)Terms, concepts, and skills used in analyzing marketingproblems. Legal, behavioral, ethical, competitive,economic, technological, and international factorsaffecting product, pricing, promotion, and marketingchannel decisions.

Mktg 3010. Marketing Research. (4 cr; prereq3000, BA 1550 or OMS 1020 or equiv)Methods for collecting and analyzing data to solvemarketing problems. Emphasis on survey researchtechniques. Research design, secondary and primarydata collection, sample design, data analysis, andmarketing management applications.

Mktg 3030. Sales Management. (4 cr; prereq3000)Managing sales as an integral part of an organization’soverall marketing program, with emphasis on sales forceorganization, selection, training, motivation,compensation, forecasting, budgeting, and control.

Mktg 3040. Buyer Behavior. (4 cr; prereq 3000)Using behavioral sciences to understand customerbehavior in the marketplace. Perception, learning,persuasion, motivation, consumer and organizationaldecision-making models, social and cultural influences.Managerial implications and applications.

Mktg 3050. Marketing Communications. (4 cr;prereq 3000)Managing the communication aspect of marketingstrategy. Emphasis on advertising and sales promotion.Setting advertising objectives and budgets, mediaselection, creative strategy, sales promotion techniques.

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Mktg 3060. Marketing Channels andDistribution. (4 cr; prereq 3000)Designing and managing channels of distribution in bothconsumer and industrial settings. Analysis of theinterrelationships between marketing institutions inchannels of distribution.

Mktg 3065. Retail Management. (4 cr; prereq3000)Principles, problems, and trends as they relate to varioustypes of retail institutions. Merchandise, inventory,financial planning, pricing, retail location and layout,vendor relationships.

Mktg 3080. Marketing Strategy. (4 cr, §3020;prereq 3000; sr status recommended)Determining product-markets where organization shouldcompete and developing sustainable competitiveadvantages. Matching marketing strategy with theenvironment and firm’s capabilities.

Mktg 3090. Marketing Topics. (4 cr [may berepeated for cr]; prereq 3000, #)Selected topics and problems of current interestconsidered in depth. Class discussion and courseprojects. Topics vary quarterly depending on instructor.

Operations andManagement Science (OMS)332 Management & Economics

Operations and management science deals withthe production of goods and services and theassociated methods used to analyze andimprove operations. Operations, which exist inall organizations, create value by convertingeconomic inputs into products or services.Managing operations is becoming increasinglyimportant in society as global competitionincreases, productivity lags, and resourcesbecome more scarce. The operations function inthe firm manages the majority of the physicaland human resources and is therefore a criticalorganizational function. Operations functionsexist in both manufacturing and service firms.

The OMS department focuses on decision-making activities in operations and supportinganalytical methods. Course topics includestrategic management of operations, capacityplanning, quality improvement, process design,inventory control, project management,statistical analysis, and analytical methods.

Operations careers are available in all typesof organizations, public and private. Typicaloperations positions include inventory control,

operations scheduling, quality manager, projectmanager, operations manager, and operationsanalyst. The operations job market is very solidand there are many opportunities in serviceindustries as well as manufacturing.

Because operations are basic to allenterprises and interface with all other businessfunctions, students expecting to pursue any typeof business career will benefit from OMScourses as electives. These courses are also agood base for students planning to pursuegraduate study.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.OMS 1020. Data Analysis and StatisticalInference for Managers. (4 cr, §MSci 1020;prereq IDSc 1010; Math 1131 recommended; BA1550 will replace OMS 1020 after wtr qtr 1997)Probabilistic and statistical techniques for decisionmaking, including data analysis, sampling, estimation,and hypothesis testing and regression. User computersoftware and computer-stored data in statistical analysis.Modeling and linear programming.

OMS 3000. Introduction to OperationsManagement. (4 cr, §OM 3000)Concepts and principles related to the managingoperations functions, including operations strategy,process design, just-in-time, forecasting, inventorymanagement, principles of scheduling, and qualityimprovement. Examples from service industries,nonprofit organizations, and manufacturing.Relationships between operations and environmenttaught from a managerial perspective.

OMS 3041. Project Management. (4 cr, §OM3041; prereq 3000 or #; generally UC only)Principles and methods useful for planning andcontrolling a project, including project plandevelopment, resource planning and scheduling, andproject monitoring and control. Selected computerizedpackages, including PERT and CPM, and examples ofdifferent types of projects from manufacturing andservice industries.

OMS 3056. Production and InventoryManagement. (4 cr, §OM 3056; prereq 3000 or #;generally UC only)Inventory planning, production planning, MaterialsRequirements Planning (MRP), just-in-time concepts,finite loading systems, distribution systems, forecasting,master scheduling, capacity management, productionactivity control and purchasing. Taught from a planningand control systems point of view with managerialorientation.

OPERATIONS AND MANAGEMENT SCIENCE

COURSE DESCRIPTIONS

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OMS 3059. Quality Management. (4 cr, §OM3059; prereq 3000 or #; generally UC only)Key issues of quality management, including planningand organizing for quality improvement, cost of quality,customer and vendor relation, process control, qualitycontrol, managing the improvement process. Conceptsand principles relevant to both service and manufacturingenvironments. Lecture and case instruction.

OMS 5100. Manufacturing for CompetitiveAdvantage. (4 cr; prereq 3000 or IEOR 3000 orMBA 8050 or #; generally UC only)The manufacturing function, particularly as itcontributes to the firm’s competitiveness. Manufacturingstrategy, technology issues, quality issues, andintegration of the work force into the manufacturingeffort. Primarily for students in engineering disciplines.

OMS 5155. Methods for Quality andProductivity Improvement. (4 cr, §DSci 5055;prereq 1020 or BA 1550 or MBA 8020 or #)Statistical methods for on- and off-line quality control.Quality management philosophy, Pareto analysis,control charts, experimental design, sampling inspection.Applications to administrative, service, and productionoperations.

OMS 5850. Topics in Operations andManagement Science. (4 cr [may be repeated forcr]; prereq 1020 or BA 1550, 3000 or #)Topics vary.

Risk Managementand Insurance (Ins)537 Management & Economics

The school offers a risk management andinsurance major and minor. Risk managementidentifies, assesses, and addresses asset andhuman resource loss, legal liability, applyingrisk control, and risk transfer and risk financingtechniques. Insurance services and risk transferare important risk management tools.

Career opportunities in risk managementand insurance include 1) underwriters, claimsadjusters, actuaries, investment analysts,accountants, office managers, pensionconsultants, agents, brokers, and other positionsin the private insurance industry; 2) corporaterisk managers for large private and publicorganizations; 3) consultants, includingconsulting actuaries, employee benefitsspecialists, risk management consultants, andpersonal financial planners; 4) employees ofstate and federal government agencies thatregulate the private insurance industry oradminister social insurance programs; and5) educators and research personnel.

Majors should begin one of the followingprofessional designation tracks aftergraduation: Certified Financial Planner (CFP),Chartered Financial Consultant (ChFC),Chartered Life Underwriter (CLU), CharteredProperty and Casualty Underwriter (CPCU),Fellow, Life Insurance Management Institute(FLMI) for people entering managementpositions in life insurance companies, Associatein Risk Management (ARM) for corporate riskmanagers. Attending the following professionalorganization meetings and seminars isrecommended: Minnesota Chapter of the Riskand Insurance Management Society (RIMS),and local chapters of CLU, CPCU, or theInternational Association of Financial Planners(IAFP).

The risk management and insurance majorapplies theory to practice using principles offinance, law, and mathematics in the transferand reduction of risk for individuals,corporations, and government. Students musttake BFin 3100 or BFin 3200, BLaw 3058, Ins5100, and Ins 5200.

Other courses may be taken to enhance themajor, such as BA 3998, Ins 5990, or Math5056.

CSOM students may also earn a minor inrisk management and insurance by completingthe following 12 credits: Ins 5100, Ins 5200,and one from BLaw 3058, BFin 3100, BFin3200, and Math 5056.

Actuarial ScienceMajor and MinorActuarial science applies mathematics toinsurance problems. Practicing actuariescalculate insurance premiums, policy and lossreserves (liabilities), and estimate costs offuture losses.

There are many career opportunities in life,health, pension, and property/casualtyinsurance, including pension systems, grouplife insurance, group health benefits, propertyrisks, liability risks, and workers’compensation.

Students typically take at least twoprofessional actuarial examinations beforegraduation and start internships that frequentlyresult in job placement after graduation.

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Students are introduced to professionaldesignation tracks, including The Society ofActuaries, American Academy of Actuaries,Casualty Actuarial Society, Conference ofConsulting Actuaries, and American Society ofPension Actuaries.

Prerequisite courses include Math 1251,1252, and 3252. Major courses include Ins5100 or Ins 5200, Math 5056, Ins 5230/Math5057, Ins 5231/Math 5058, Math 5473 or 5059,Math 5679 or Stat 5131, and Stat 5121-5122 orStat 5132-5133.

Similar/comparable math and statistics maybe substituted by petition.

Actuarial students may also earn a minor bytaking Ins 5100 or Ins 5200, Math 5056, Ins5230/Math 5057 or Ins 5231/Math 5058, andMath 5473 or 5059.

Note: In addition to prerequisites listed, for all3xxx and 5xxx CSOM courses students musthave 90 quarter credits and a 2.80 overall GPAor be admitted to a CSOM upper division majorprogram.

Ins 5100. Risk Management and Insurance.(4 cr, §8100)How to recognize and evaluate the property, liability,and personnel risks facing a business, nonprofitorganization, government unit, or individual or family.Tools of risk management—mainly retention, losscontrol, and insurance—and conditions under whichthey should be used. How to select and deal with aninsurer. Public policy issues such as availability ofinsurance, insurance pricing, and social insurance.

Ins 5210. Economic and Social Security. (4 cr,§8210, §Econ 5534)Nature and causes of economic insecurity and poverty.Details and economic and social implications of privateemployee benefits and public programs, with emphasison Old Age, Survivors, Disability and Health Insurance(Social Security), workers’ compensation insurance, andunemployment insurance.

Ins 5230. Actuarial Mathematics I. (4 cr, §Math5057; prereq Math 1252 or #, one probability orstatistics course)How to calculate net premiums, gross premiums,reserves, and nonforfeiture values for major lifeinsurance contracts. Impact of assumed mortality,interest, and expense assumptions on these items.

Ins 5231. Actuarial Mathematics II. (4 cr,§Math 5058; prereq 5230 or #)Economics of insurance, measurement of mortality, lifeinsurance, annuity premiums and reserves. Multilife functions.Population problems and multiple-decrement theory.

RISK MANAGEMENT AND INSURANCE

A Carlson School of Management alumna, now a General Mills Inc. marketing representative, works witha current Carlson School student in the Undergraduate Mentorship Program.