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Crookston Campus

International Business B.S.

Business
Academic Affairs
  • Program Type: Baccalaureate
  • Requirements for this program are current for Fall 2020
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 55
  • This program requires summer terms.
  • Degree: Bachelor of Science
The need for graduates with skills to streamline global pursuits of companies that trade, manufacture, or use contract manufacturing globally is growing. The international business major is designed to ensure that students cultivate their global mindset. Classes like international business cultures and etiquette, international business law, international financial management, international marketing, international business management, and senior seminar in international business strategy are combined with field experience in international business and/or study abroad, which are included in the curriculum to broaden graduates' understanding of global business operations. Opportunities to travel and study outside the United States allow students to develop skills for functioning in different cultures, societies, and economic environments, and to understand a wide variety of international business practices. Many different positions are available for graduates of international business; for example, supply chain management, operations management, human resources management, sales and marketing, financial management, as a contract worker, or as an entrepreneur. Positions in international business will be focused on management of foreign nationals working in the US, or US workers working in a foreign country. The other aspect of international business will focus upon the negotiations between your company and representatives of another country who will be the intermediary between your company and your ultimate consumers. Increasing demand for high quality international business graduates is driving the upward trend of salaries paid. The curriculum allows students to incorporate subjects focused on their specific interest and international positions in marketing, financial management, supply chain management, technology services, human resource management, and many other traditional business support and leadership occupation. Graduates could also work at federal agencies including the International Trade Administration and the Foreign Service as part of the US Department of Commerce. Program Learning Outcomes: Outcome 1. Solve problems related to the international context of finance, management, marketing, economics, accounting, and technology. Outcome 2. Evaluate the global forces that shape our world in socio-economic cultural and political contexts. Outcome 3. Integrate general and international business skills for effective problem-solving. Outcome 4. Apply cross-disciplinary qualitative and quantitative information to problem resolution and opportunity identification. Outcome 5. Demonstrate appropriate communication skills in presentation and negotiating environments, and understand the impact of culture on communication. Outcome 6. Contribute to and work within cross-functional and cross-cultural teams.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
  • completely online (all program coursework can be completed online)
Admission Requirements
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
General Requirements
All students are required to complete general University and college requirements. For more information, see the graduation requirements.
Program Requirements
A minimum of 40 upper-division credits are required to graduate. A maximum of two D grades are allowed for courses under business, international business, language and/or foreign experience, and technology requirements. This includes grades earned at UMC or transferred in from another institution.
Business Core
Take exactly 7 course(s) totaling exactly 19 credit(s) from the following:
· GBUS 1005 - Orientation to Online Learning (1.0 cr)
· GBUS 3500 - Business Ethics (3.0 cr)
· ITM 3020 - Introduction to Management Information Systems (3.0 cr)
· MGMT 3200 - Principles of Management (3.0 cr)
· MKTG 3300 - Principles of Marketing (3.0 cr)
· Choose one of the following:
· ACCT 2010 - Financial Accounting (3.0 cr)
or ACCT 2101 - Principles of Accounting I (3.0 cr)
· Choose one of the following:
· ACCT 2102 - Principles of Accounting II (3.0 cr)
or ACCT 3010 - Managerial Accounting (3.0 cr)
International Business Core
Take exactly 10 course(s) totaling exactly 30 credit(s) from the following:
· COMM 3002 - Intercultural Communication [GLOB PERSP] (3.0 cr)
· FIN 3100 - Managerial Finance (3.0 cr)
· FIN 3120 - Money, Financial Markets and Institutions (3.0 cr)
· IBUS 2010 - International Dimensions in Business and Culture [GLOB PERSP] (3.0 cr)
· IBUS 3010 - International Business Law (3.0 cr)
· IBUS 3020 - International Financial Management (3.0 cr)
· IBUS 3360 - International Marketing (3.0 cr)
· IBUS 3500 - International Business Management (3.0 cr)
· IBUS 4800 - Senior Seminar in International Business Strategy (3.0 cr)
· MGMT 3255 - Logistics and Supply Chain Management (3.0 cr)
Language and/or Foreign Experience
Students must take at least 6 credits or its equivalent.
High School Foreign Language Study
Two years of high school foreign language study
or Language Competency Exam
Documented completion of a language competency exam for the equivalent of 6 credits.
or Collegiate Foreign Language Coursework
Take 6 or more credit(s) from the following:
· Two semesters of collegiate foreign language coursework in a single language
· SPAN 1104 - Beginning Spanish I (4.0 cr)
SPAN 1204 - Beginning Spanish II (4.0 cr)
or IBUS Coursework
Take 6 or more credit(s) from the following:
· IBUS 3201 - Study Abroad in International Business (1.0-6.0 cr)
· IBUS 3900 - Field Experience in International Business (1.0-6.0 cr)
Liberal Education
This program requires a minimum of 40 credits of liberal education and completion of the ten goal areas of the Minnesota Transfer Curriculum. The following are specific required liberal education courses.
Take exactly 10 course(s) totaling exactly 30 credit(s) from the following:
· COMM 3001 - Human Relationships and Leadership [HUMAN DIV] (3.0 cr)
· COMP 1011 - Composition I [COMMUNICAT] (3.0 cr)
· COMP 1013 - Composition II [COMMUNICAT] (3.0 cr)
· ECON 1010 - Global Trade Economics [GLOB PERSP] (3.0 cr)
· ECON 2101 - Microeconomics [HI/BEH/SSC] (3.0 cr)
· ECON 2102 - Macroeconomics [HI/BEH/SSC] (3.0 cr)
· MATH 1031 - College Algebra [MATH THINK] (3.0 cr)
· MATH 1150 - Introduction to Statistics [MATH THINK] (3.0 cr)
· PSY 1001 - General Psychology [HI/BEH/SSC] (3.0 cr)
· SPCH 1101 - Public Speaking [COMMUNICAT] (3.0 cr)
Technology
Take exactly 1 course(s) totaling exactly 3 credit(s) from the following:
· CA 1020 - Spreadsheet Applications (3.0 cr)
Open Electives
Students must take enough open electives credits to satisfy the 120 credit graduation requirement
Program Sub-plans
A sub-plan is not required for this program.
Online
The curriculum for the International Business B.S. Online is identical to the on-campus International Business B.S. program.
 
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· International Business BS (Classroom)
· International Business BS (Online)

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· International Business B.S.
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GBUS 1005 - Orientation to Online Learning
Credits: 1.0 [max 1.0]
Typically offered: Every Fall, Spring & Summer
Introduction to UMC policies, e-mail, virtual private network, online library resources, writing scholarly reports, APA referencing, netiquette, networking in online environment, group work in online environment.
GBUS 3500 - Business Ethics
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Ethics as compelling responsibility of today's business organizations. Moral principles/models for ethical decision making. Challenges of ethical business practices. prereq: Mgmt 3200 and Mktg 3300 or instructor consent
ITM 3020 - Introduction to Management Information Systems
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Theoretical background/hands-on experience with "software as service" applications. Traditional individual/company hosted software.
MGMT 3200 - Principles of Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Terminology, theories, concepts, and skills of managing. Basic functions of managing including, planning, organizing, leading, and controlling. Additional topics include decision making, business ethics, and social responsibility. prereq: Psy 1001 or instructor consent
MKTG 3300 - Principles of Marketing
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to marketing/strategic marketing process. Team development of marketing plan that implements product, pricing, distribution, promotional strategies. prereq: [Econ 2101 or 2102], [Psy 1001 or instructor consent]
ACCT 2010 - Financial Accounting
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Introduction to financial accounting for US organizations, reading/understanding financial statements.
ACCT 2101 - Principles of Accounting I
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Concepts of accounting cycle, cash, accounts receivable, inventories, plant assets, payroll. prereq: Math 1031
ACCT 2102 - Principles of Accounting II
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Modern accounting concepts. Cash flow statement. Analysis of financial statements. Management accounting topics, including cost-volume-profit analysis, and costing methods. prereq: 2101
ACCT 3010 - Managerial Accounting
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Costing techniques, including activity based costing, applying costing methods to determine costs of products, services, production processes. Use of costs in operating/strategic decisions. prereq: 2010 or 2101
COMM 3002 - Intercultural Communication (GLOB PERSP)
Credits: 3.0 [max 3.0]
Typically offered: Spring Odd Year
Interrelationship of cultures/co-cultures. Interpreting diverse communication styles. Cultural values, world views, philosophies, patterns, meanings. Communication strategies across cultures.
FIN 3100 - Managerial Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Principle financial considerations/ratio analysis of business. Cost of capital, asset management, capital structure planning, financial statement analysis, working capital management, short-term financing, budgeting. Integrates theory/applications. prereq: [ACCT 2102 or 3010], [ECON 2101, MATH 1031] or instructor consent
FIN 3120 - Money, Financial Markets and Institutions
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
Principles/roles of money, banking, financial system. Interest rate, monetary policies of central banks. Financial instruments, asset pricing, determination/behavior of interest rates/exchange rates. Management, structure regulation of banking system.
IBUS 2010 - International Dimensions in Business and Culture (GLOB PERSP)
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Skills to interact successfully in various settings in Europe, Africa, North and South America, Asia. Standards/practices of indigenous organizations, governments, and cultures in global context. Multinational interaction, communication, and cooperation.
IBUS 3010 - International Business Law
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Law for business transactions in global political legal environments. Laws of different countries/legal effects on individuals/business organizations. Agreements, international contracts/administrations, exports/import, technology transfers, regional transactions, intellectual property, product liability, legal organization.
IBUS 3020 - International Financial Management
Credits: 3.0 [max 3.0]
Course Equivalencies: 02600
Typically offered: Fall Odd Year
International financial markets with risks/benefits of international operations. Compare operation of global companies with domestic companies regarding foreign exchange fluctuations, political risks, financial tools to address risks, capital budgeting, tax, working capital structure, investment decisions, company's valuation.
IBUS 3360 - International Marketing
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Factors affecting marketing of goods/services. Managing organization in international environment. Complete team marketing plan for product being marketed internationally. prereq: MGMT 3200, MKTG 3300
IBUS 3500 - International Business Management
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Principles, opportunities, challenges of managing international business. Basic managerial functions. Economic, social, political environment. prereq: MGMT 3200
IBUS 4800 - Senior Seminar in International Business Strategy
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Topics include gains from trade, costs of trade, competitive strategy of international business. Consider alternative modes of market entry, including import/export through intermediaries, contracting with suppliers/distributors, strategic alliances/foreign direct investment.
MGMT 3255 - Logistics and Supply Chain Management
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Examines supply chain management as a means of creating strategic competitive advantages. Logistical efficiency with environmental factors, strategic positioning, laws and policies, and cost maintenance will be examined.
SPAN 1104 - Beginning Spanish I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Conversational Spanish centered on day-to-day experiences. Emphasis on verb conjugation, rules of grammar, and vocabulary building. Cultural awareness and appreciation.
SPAN 1204 - Beginning Spanish II
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
Emphasis on verb conjugation with the addition of compound tenses, indicative and subjective moods. Vocabulary building; dialogue concerning sports, travel, service information. Cultural and political dimensions of Spanish-speaking countries. prereq: Span 1104 or 2 years high school Spanish
IBUS 3201 - Study Abroad in International Business
Credits: 1.0 -6.0 [max 6.0]
Typically offered: Every Fall, Spring & Summer
Taken in conjunction with focused international visit, or as connection to cooperative learning experience at accredited higher education institution abroad.
IBUS 3900 - Field Experience in International Business
Credits: 1.0 -6.0 [max 6.0]
Typically offered: Every Fall, Spring & Summer
Employed as interns in international business firm, institution, or agency. Experience must have global component but may be completed either domestically or at international location. Reports/consultations with faculty/employers required.
COMM 3001 - Human Relationships and Leadership (HUMAN DIV)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Anti-relational/relational communication, interpersonal/group processes, conflict management, collaboration, team building, and leadership.
COMP 1011 - Composition I (COMMUNICAT)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Process of clear, concrete, and convincing writing. Generation and discovery of subjects, revisions, editing.
COMP 1013 - Composition II (COMMUNICAT)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Writing a research paper/s. Formulating/answering a research question. Developing an organizational/argument strategy for topic/audience. Supporting research question/argument with scholarly sources. prereq: 1011
ECON 1010 - Global Trade Economics (GLOB PERSP)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Overview of ecological/demographic/economic factors influencing current agricultural, industrial, environmental development issues.
ECON 2101 - Microeconomics (HI/BEH/SSC)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Basic economic principles of pricing, resource allocation, consumption. Supply/demand, cost of production, consumer behavior. Competition/influences of market structure. prereq: Math 0991 or 2 yrs high school algebra or equiv
ECON 2102 - Macroeconomics (HI/BEH/SSC)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Big picture of economy. Determinants of national income, national income accounting, unemployment, inflation, economic growth. Classical, Keynesian, recent theoretical approaches to modifying economic activity. Monetary/fiscal policies. International economic relations.
MATH 1031 - College Algebra (MATH THINK)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Basic algebraic operations, linear/quadratic equations/inequalities, variation. Functions/graphs. Theory of equations. Exponential/logarithmic functions. Systems of equations. Mathmatical modeling/applications. prereq: 0991 or ACT math score of 20 or higher
MATH 1150 - Introduction to Statistics (MATH THINK)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Descriptive statistics, elementary probability, normal distribution, binomial distribution, confidence intervals, tests of hypotheses, correlation, regression, chi-square, ANOVA. prereq: 0991 or ACT math score of 20 or higher
PSY 1001 - General Psychology (HI/BEH/SSC)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Overview of psychology as scientific study of human/animal behavior. Emphasizes goals of psychology: to describe, understand, predict, and control behavior. Biological, cognitive, affective, and social perspectives.
SPCH 1101 - Public Speaking (COMMUNICAT)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Topic selection, research, organization, rehearsal, and extemporaneous delivery of informative and persuasive speeches.
CA 1020 - Spreadsheet Applications
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Personal/presentation use of spreadsheets that include formulas, functions, what-if analysis, and charts. Focuses on applying spreadsheet applications to individual academic disciplines.