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Morris Campus

Business and Management Minor

Division of Social Sciences - Adm
Division of Social Sciences
  • Program Type: Undergraduate minor related to major
  • Requirements for this program are current for Fall 2023
  • Required credits in this minor: 26
This discipline offers a multidisciplinary liberal arts-based program that allows students to enter the field of business and management as a professional or proceed to graduate studies. The business and management curriculum focuses on areas of human knowledge that concern the operation and control of organizations whether they are for-profit, non-profit, or governmental. In addition to developing competence in analytical and core business areas, students majoring in the field are expected to learn to critically examine businesses and other institutions from a liberal arts perspective. Program Student Learning Outcomes The curriculum is designed to ensure that students will be able to: 1. Describe and identify the economic context for business and organizational decision making. 2. Apply, compare, and contrast different methods and approaches for managing human and material resources. 3. Understand and apply financial concepts that are essential to manage organizations. 4. Critically examine the functioning of business and other institutions. 5. Communicate business, accounting, and managerial knowledge both orally and in writing.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Minor Requirements
Courses may not be taken S/N unless offered S/N only. A minimum GPA of 2.00 is required in the minor to graduate. The GPA includes all, and only, University of Minnesota coursework. Grades of "F" are included in GPA calculation until they are replaced.
Required Courses
Grades of D or D+ in MGMT 2101-2102 or ECON 1101 may not be used to meet minor requirements.
ECON 1101 - Principles of Economics [SS] (4.0 cr)
MGMT 2101 - Principles of Accounting I (4.0 cr)
MGMT 2102 - Principles of Accounting II (2.0 cr)
Elective Courses
No more than 4 credits from MGMT x993 - Directed Study can be applied to the minor.
Take 16 or more credit(s) from the following:
· MGMT 3101 - Financial Management (4.0 cr)
· MGMT 3123 - Managerial Economics (4.0 cr)
· MGMT 3133 - Managerial Accounting (4.0 cr)
· MGMT 3134 - Cooperative Business Model (2.0 cr)
· MGMT 3141 - Business Law: The Legal Environment of Business (2.0 cr)
· MGMT 3142 - Business Law: Sales Law, Commercial Paper, and Forms of Business (2.0 cr)
· MGMT 3151 - Human Resources Management I [E/CR] (2.0 cr)
· MGMT 3152 - Human Resources Management II [HDIV] (2.0 cr)
· MGMT 3161 - Labor Management Relations I [E/CR] (2.0 cr)
· MGMT 3162 - Labor Management Relations II (2.0 cr)
· MGMT 3173 - Comparative Employment Relations [E/CR] (2.0 cr)
· MGMT 3201 - Marketing Principles and Strategy (4.0 cr)
· MGMT 3221 - Management and Organization Theory (4.0 cr)
· MGMT 3503 - Consumer Behavior [SS] (4.0 cr)
· MGMT 3513 - Negotiation (4.0 cr)
· MGMT 3601 - Transnational Enterprise [IP] (4.0 cr)
· MGMT 3701 - Organizational Behavior [SS] (4.0 cr)
· MGMT 3993 - Directed Study (1.0-5.0 cr)
· MGMT 3xxx
· MGMT 4102 - Investment and Portfolio Analysis I (2.0 cr)
· MGMT 4103 - Investment and Portfolio Analysis II (2.0 cr)
· MGMT 4201 - The Economics of Corporate Strategy I (2.0 cr)
· MGMT 4202 - The Economics of Corporate Strategy II (2.0 cr)
· MGMT 4301 - Corporate Finance (2.0 cr)
· MGMT 4896 - Internship (1.0-4.0 cr)
· MGMT 4993 - Directed Study (1.0-5.0 cr)
· MGMT 4xxx
· PSY 3503 - Consumer Behavior [SS] (4.0 cr)
 
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ECON 1101 - Principles of Economics (SS)
Credits: 4.0 [max 4.0]
Typically offered: Every Fall & Spring
The first half of the course will focus on theories related to individual and firm decision-making. Core concepts like supply and demand, concepts of elasticity, consumer theory, theory of the firm, market structure, and pricing of factors of production will be covered. The latter half of the course will cover the theories related to the aggregate economy. Core concepts like measurement of economic performance such as national income, inflation, and unemployment, macroeconomic theories to understand business cycle fluctuations, and stabilization policies will be covered. [Note: no credit for students who have received cr for 1111 and 1112] prereq: high school algebra or instr consent
MGMT 2101 - Principles of Accounting I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
An introductory course in accounting principles and practices. Students develop an understanding of both the conceptual and procedural framework of accounting processes. Emphasis is placed on the preparation and communication of accounting information and the financial statements for proprietorships and partnerships.
MGMT 2102 - Principles of Accounting II
Credits: 2.0 [max 2.0]
Typically offered: Every Spring
A continuation of Principles of Accounting I. Students develop an understanding of the issues unique to corporations and organizational financing. Cash flow statements and performance analysis are also emphasized. prereq: 2101
MGMT 3101 - Financial Management
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Fundamental theories of financial management, their applications, and their limitations in solving real business problems. Emphasis on financial analysis, valuation of future cash flows, capital budgeting, risk and return, cost of capital. prereq: 2102, Econ 1101 (or Econ 1111, Econ 1112), Stat 1601
MGMT 3123 - Managerial Economics
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Development of the basic concepts of the microeconomic theories of consumer behavior, the firm, and market structure, in application to managerial decision-making contexts in the operation and control of business and non-profit organizations. [Note: no credit for students who have received credit for Econ 3201] prereq: 2101, Econ 1101 (or Econ 1111), Stat 1601 or Stat 2601 or instr consent
MGMT 3133 - Managerial Accounting
Credits: 4.0 [max 4.0]
Prerequisites: 2102
Typically offered: Periodic Fall & Spring
Managerial accounting is designed to help managers assess needed information to carry out three essential functions in an organization: planning operations, controlling activities, and making decisions. The emphasis of this course is placed on cost behaviors, various product costing methods, cost-volume-profit relationships, budgeting and control through standard costs, and other quantitative techniques used by management. prereq: 2102
MGMT 3134 - Cooperative Business Model
Credits: 2.0 [max 2.0]
Course Equivalencies: Econ 3134/Mgmt 3134
Typically offered: Periodic Fall & Spring
Same as Econ 3134. In the northern plains of the United States, cooperative businesses, including consumer, producer, and worker cooperatives, have made significant contributions to economic growth and development. Identify the unique economic, legal, and organizational characteristics of these firms and their role in the economy. Special attention is given to the potential role of cooperative business organizations in community development. prereq: Econ 1101 (or Econ 1111) or instr consent
MGMT 3141 - Business Law: The Legal Environment of Business
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
Introduction to the legal environment in which business operates. Covers the sources of regulatory authority, including U.S. constitutional authority, judicial authority, and state and local regulatory systems; ethical business decision-making; tortious acts in the business world, intellectual property, and an introduction to contract law. prereq: 2101 or instr consent
MGMT 3142 - Business Law: Sales Law, Commercial Paper, and Forms of Business
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
Covers sales law under the Uniform Commercial Code; negotiable instruments (i.e., the law of commercial paper); and principles of agency law. Provides an introduction to a wide variety of business organizational forms with in-depth emphasis on partnerships, limited partnerships, limited liability corporations, corporate law, and securities law and regulation. This class complements MGMT 3141, and may be taken with or without having first taken 3141. prereq: 2101 or instr consent
MGMT 3151 - Human Resources Management I (E/CR)
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
An introduction to the functional areas of human resource management through the use of case studies. Topics include legal issues, strategic and sustainability planning, recruitment, evaluation, compensation, and benefits. prereq: Stat 1601 or Stat 2601 or instr consent
MGMT 3152 - Human Resources Management II (HDIV)
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
Topics in human resource management: evaluating employee performance, training and safety, sustainability and "lean manufacturing," labor relations, and international human resource management. prereq: 3151 or instr consent
MGMT 3161 - Labor Management Relations I (E/CR)
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
Historical development of labor relations and the legal framework governing collective bargaining. Labor relations law reform. Case studies from labor relations law. prereq: Econ 1101 (or 1111) or instr consent
MGMT 3162 - Labor Management Relations II
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
Issues in labor-management negotiation, grievances, wages and economic security plans, public policies toward collective bargaining. Case studies from labor arbitration. prereq: 3161 or instr consent
MGMT 3173 - Comparative Employment Relations (E/CR)
Credits: 2.0 [max 2.0]
Typically offered: Every Spring
This course examines the employment relations system of the United States and various other developed market economies. It includes a comparison of public policies and private practices regarding individual employment rights at work, collective representation at work, employee involvement mechanisms, employment protection, and social welfare policies related to the workplace. prereq: 2101, Econ 1101 (or Econ 1111)
MGMT 3201 - Marketing Principles and Strategy
Credits: 4.0 [max 4.0]
Typically offered: Periodic Fall & Spring
Basic factors affecting policy and strategy issues in marketing. Economic, legal, behavioral, environmental, competitive, and technological factors as they affect product, pricing, promotion, and marketing-channel decisions. prereq: 2102, Stat 1601 or instr consent
MGMT 3221 - Management and Organization Theory
Credits: 4.0 [max 4.0]
Typically offered: Periodic Fall & Spring
Theory, research, and practice of management. Planning, organizing, leading, controlling. Emphasizes goals, policies, procedures. Factors and human relationships necessary to achieve organizational success. Organizational structure/culture. Changing environment in which businesses operate. prereq: 2101, Econ 1101 (or Econ 1111) or instr consent
MGMT 3503 - Consumer Behavior (SS)
Credits: 4.0 [max 4.0]
Course Equivalencies: Psy 3503/Mgmt 3503
Typically offered: Periodic Spring
Same as Psy 3503. Psychological basis for understanding consumers. Some of the topics include consumer behavior, consumer cognitive processes, and consumer judgments and decisions. prereq: Stat 1601 or Stat 2601 or instr consent
MGMT 3513 - Negotiation
Credits: 4.0 [max 4.0]
Course Equivalencies: Mgmt 3513/Psy 3513
Typically offered: Periodic Fall & Spring
Same as Psy 3513. Examines the theoretical and applied aspects of negotiation. Topics include negotiation theory, strategy, skills and tactics, communication processes, global negotiation, and ethics. Use of negotiation simulations. prereq: 3221 or Psy 3501 or Psy/Mgmt 3701
MGMT 3601 - Transnational Enterprise (IP)
Credits: 4.0 [max 4.0]
Typically offered: Periodic Fall & Spring
Development and transformation of business enterprise within the global economy emerging from time and motion studies, mergers, "corporate revolution," Fordism through to multi-plant manufacturing beyond national boundaries. Includes the basic impact of structural, institutional, and organizational change upon the dynamics of the firm and industry in the contemporary hyper-competitive, technology-driven, fast-paced, global environment. prereq: 2101, Econ 1101 (or Econ 1111, Econ 1112) or instr consent, Engl 1601 (or instr consent for students with college writing experience)
MGMT 3701 - Organizational Behavior (SS)
Credits: 4.0 [max 4.0]
Course Equivalencies: Mgmt 3701/Psy 3701
Typically offered: Periodic Fall & Spring
Same as Psy 3701. Uses the theories and research of the behavioral sciences to understand how organizations function at the individual, group, and organizational levels. Topics include stress in the workplace; group dynamics; power, leadership, and attribution theory. prereq: Stat 1601 or Stat 2601, jr or sr
MGMT 3993 - Directed Study
Credits: 1.0 -5.0 [max 10.0]
Typically offered: Every Fall & Spring
An on- or off-campus learning experience individually arranged between a student and a faculty member for academic credit in areas not covered in the regular curriculum.
MGMT 4102 - Investment and Portfolio Analysis I
Credits: 2.0 [max 2.0]
Typically offered: Every Spring
Familiarizes the student with conventional and state-of-the-art tools currently employed in the asset management industry. Discusses the concept of security markets indexes and index funds. Explores the techniques of valuation and management of common stocks and bonds. prereq: 2101, 2102, 3101
MGMT 4103 - Investment and Portfolio Analysis II
Credits: 2.0 [max 2.0]
Typically offered: Every Spring
Familiarizes the student with conventional and state-of-the-art tools currently employed in the asset management industry. Discusses the investment theories such as Markowitz portfolio theory, capital market theory, and the capital asset pricing model. Also, focuses on derivative security analysis. prereq: 4102
MGMT 4201 - The Economics of Corporate Strategy I
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
Setting the horizontal boundaries (e.g., which lines of business) and vertical boundaries (whether to make or buy inputs and outputs) of the firm, considered as strategic decisions. The different types of competition associated with distinct market structures. prereq: 3123 or Econ 3201, Math 1021 or Math 1101, or instr consent
MGMT 4202 - The Economics of Corporate Strategy II
Credits: 2.0 [max 2.0]
Typically offered: Periodic Fall & Spring
Tools for analyzing business strategies: credible strategic commitments, pricing rivalries, entry and exit, Porter's five forces framework, and the relationship between value creation and strategic market positioning. prereq: 4201
MGMT 4301 - Corporate Finance
Credits: 2.0 [max 2.0]
Typically offered: Periodic Spring
Overview of corporate finance topics like capital structure, how firms raise capital, dividend policy, short-term financial planning and working capital management, and mergers and acquisitions. prereq: 3101 or instr consent
MGMT 4896 - Internship
Credits: 1.0 -4.0 [max 4.0]
Grading Basis: S-N only
Typically offered: Every Fall & Spring
Supervised educational experience and field application relevant to student's major. Written analysis appropriate to the application is required. [Note: 2 cr may be applied to major or minor] prereq: 2102
MGMT 4993 - Directed Study
Credits: 1.0 -5.0 [max 10.0]
Typically offered: Every Fall & Spring
An on- or off-campus learning experience individually arranged between a student and a faculty member for academic credit in areas not covered in the regular curriculum.
PSY 3503 - Consumer Behavior (SS)
Credits: 4.0 [max 4.0]
Course Equivalencies: Psy 3503/Mgmt 3503
Typically offered: Periodic Spring
Same as Mgmt 3503. Psychological basis for understanding consumers. Some of the topics include consumer behavior, consumer cognitive processes, and consumer judgments and decisions. prereq: Stat 1601 or Stat 2601 or instr consent