Twin Cities campus
 
Twin Cities Campus

Risk Management and Insurance B.S.B.

Finance
Curtis L. Carlson School of Management
  • Students will no longer be accepted into this program after Summer 2008. Program requirements below are for current students only.
  • Please see the Finance & Risk Management Insurance B.S.B.
  • Program Type: Baccalaureate
  • Requirements for this program are current for Spring 2012
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 11 to 12
  • Degree: Bachelor of Science in Business
Risk management is the practice of identifying the risks that affect a company?s business and finding ways to mitigate and offset those risks. Risk management tools and techniques help corporations deal with all types of issues, legal concerns, and human resources changes. This major introduces students to the risk management discipline and multiple career paths, including corporate risk manager, benefits manager, insurance agent/broker, underwriter, loss adjuster, consultant, and personal financial planner. The Carlson School Honors program offers students access to a richer undergraduate experience. Honors students have closer contact with their professors. They work in smaller classes and they put their skills to work for the benefit of the community. The program requires hard work and a strong commitment to learning.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
Students must complete 50 credits before admission to the program.
A GPA above 2.0 is preferred for the following:
  • 3.00 transferring from another University of Minnesota college
  • 3.00 transferring from outside the University
Freshmen are admitted to Carlson School of Management, but do not declare a major until 50 credits have been completed. Part of the 50 credits should include the five tool courses and liberal education requirements. Those transferring in as sophomores need to complete microeconomics, macroeconomics, and calculus before admission. Juniors and above need to complete microeconomics, macroeconomics, calculus, business statistics, and accounting before admission.
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Required prerequisites
Tool Courses
An adviser-approved statistics course may be taken in place of OMS 2550.
ECON 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
or APEC 1101 - Principles of Microeconomics [SOCS, GP] (4.0 cr)
or ECON 1101H {Inactive} (4.0 cr)
or ECON 1104 {Inactive} (4.0 cr)
ECON 1102 - Principles of Macroeconomics (4.0 cr)
or APEC 1102 - Principles of Macroeconomics (3.0 cr)
or ECON 1102H {Inactive} [IP, SSCI] (4.0 cr)
or ECON 1105 {Inactive} (4.0 cr)
MATH 1142 - Short Calculus [MATH] (4.0 cr)
or MATH 1271 - Calculus I [MATH] (4.0 cr)
or MATH 1571H - Honors Calculus I [MATH] (4.0 cr)
SCO 2550 - Business Statistics: Data Sources, Presentation, and Analysis (4.0 cr)
or SCO 2550H {Inactive} (4.0 cr)
ACCT 2050 - Introduction to Financial Reporting (4.0 cr)
or ACCT 2050H - Honors: Introduction to Financial Reporting (4.0 cr)
Required prerequisites
Additional Program Requirements
PSY 1001 - Introduction to Psychology [SOCS] (4.0 cr)
BA 3000 - Career Skills (1.0 cr)
General Requirements
All students are required to complete general University and college requirements including writing and liberal education courses. For more information about University-wide requirements, see the liberal education requirements. Required courses for the major or minor in which a student receives a D grade (with or without plus or minus) do not count toward the major or minor (including transfer courses).
Program Requirements
Functional Core
ACCT 3001 - Introduction to Management Accounting (3.0 cr)
FINA 3001 - Finance Fundamentals (3.0 cr)
HRIR 3021 - Human Resource Management and Industrial Relations (3.0 cr)
IDSC 3001 - Information Systems for Business Processes and Management (3.0 cr)
MGMT 3001 - Fundamentals of Management (3.0 cr)
MKTG 3001 - Principles of Marketing (3.0 cr)
SCO 3001 - Introduction to Operations Management (3.0 cr)
Communication, International, Business Policy Core
MGMT 3033W - Business Communication [WI] (3.0 cr)
or MGMT 3033V {Inactive} [WI] (3.0 cr)
MGMT 3040 - Understanding the International Environment of Firms: International Business (2.0 cr)
or MGMT 3040H {Inactive} (3.0 cr)
MGMT 4004W - Business Policy: Strategy Formulation and Implementation [WI] (3.0 cr)
or MGMT 4004V {Inactive} [WI] (3.0 cr)
Major Courses
INS 4100 - Corporate Risk Management (2.0 cr)
INS 4101 - Employee Benefits (2.0 cr)
INS 4200 - Insurance Theory and Practice (2.0 cr)
INS 4201 {Inactive} (2.0 cr)
Electives
Take 3 or more credit(s) from the following:
· BLAW 3058 - The Law of Contracts and Agency (4.0 cr)
· FINA 4241 {Inactive} (4.0 cr)
· FINA 4242W - Corporate Investment Decisions [WI] (4.0 cr)
· MATH 4065 - Theory of Interest (4.0 cr)
· MATH 5067 - Actuarial Mathematics I (4.0 cr)
· MATH 5068 - Actuarial Mathematics II (4.0 cr)
· INS 4202 {Inactive} (2.0 cr)
 
More program views..
View college catalog(s):
· Curtis L. Carlson School of Management

View sample plan(s):
· Risk Management and Insurance

View checkpoint chart:
· Risk Management and Insurance B.S.B.
View PDF Version:
Search.
Search Programs

Search University Catalogs
Related links.

Curtis L. Carlson School of Management

TC Undergraduate Admissions

TC Undergraduate Application

One Stop
for tuition, course registration, financial aid, academic calendars, and more
 
ECON 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1104/1111/ApEc 1101
Typically offered: Every Fall, Spring & Summer
Microeconomic behavior of consumers, firms, and markets in domestic and world economy. Demand and supply. Competition and monopoly. Distribution of income. Economic interdependencies in the global economy. Effects of global linkages on individual decisions. prereq: knowledge of plane geometry and advanced algebra
APEC 1101 - Principles of Microeconomics (SOCS, GP)
Credits: 4.0 [max 4.0]
Course Equivalencies: Econ 1101/1104/1111/ApEc 1101
Typically offered: Every Fall & Spring
Economic behavior of consumers/firms in domestic/international markets. Demand, supply, competition. Efficiency, Invisible Hand. Monopoly, imperfect competition. Externalities, property rights. Economics of public policy in environment/health/safety. Public goods, tax policy.
ECON 1102 - Principles of Macroeconomics
Credits: 4.0 [max 4.0]
Course Equivalencies: 00020 - ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Fall, Spring & Summer
Aggregate consumption, saving, investment, and national income. Role of money, banking, and business cycles in domestic and world economy. International trade, growth, and development. U.S. economy and its role in the world economy. International interdependencies among nations. prereq: [1101 or equiv], knowledge of plane geometry and advanced algebra
APEC 1102 - Principles of Macroeconomics
Credits: 3.0 [max 3.0]
Course Equivalencies: 00020 - ApEc 1102/Econ 1102/1105/1112
Typically offered: Every Fall & Spring
Unemployment/inflation, measures of national income, macro models, fiscal policy/problems. Taxes and the national debt. Money/banking, monetary policy/problems. Poverty and income distribution. International trade and exchange rates. Economic growth/development. prereq: 1101 or Econ 1101
MATH 1142 - Short Calculus (MATH)
Credits: 4.0 [max 4.0]
Typically offered: Every Fall, Spring & Summer
A streamlined one-semester tour of differential and integral calculus in one variable, and differential calculus in two variables. No trigonometry/does not have the same depth as MATH 1271-1272. Formulas and their interpretation and use in applications. prereq: Satisfactory score on placement test or grade of at least C- in [1031 or 1051]
MATH 1271 - Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: Math 1142/1271/1281/1371/1571H
Typically offered: Every Fall, Spring & Summer
Differential calculus of functions of a single variable, including polynomial, rational, exponential, and trig functions. Applications, including optimization and related rates problems. Single variable integral calculus, using anti-derivatives and simple substitution. Applications may include area, volume, work problems. prereq: 4 yrs high school math including trig or satisfactory score on placement test or grade of at least C- in [1151 or 1155]
MATH 1571H - Honors Calculus I (MATH)
Credits: 4.0 [max 4.0]
Course Equivalencies: 00067 - Math 1142/1271/1281/1371/1571H
Grading Basis: A-F only
Typically offered: Every Fall
Differential/integral calculus of functions of a single variable. Emphasizes hard problem-solving rather than theory. prereq: Honors student and permission of University Honors Program
SCO 2550 - Business Statistics: Data Sources, Presentation, and Analysis
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Data analysis, basic inferential procedures, statistical sampling/design, regression/time series analysis. How statistical thinking contributes to improved decision making. prereq: [Math 1031 or equiv], at least 30 cr
ACCT 2050 - Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Course Equivalencies: Acct 2050/ApEc 1251
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to financial accounting for U.S. organizations. Reading financial statements. prereq: Soph
ACCT 2050H - Honors: Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Introduction to financial accounting for U.S. organizations. Reading financial statements.
PSY 1001 - Introduction to Psychology (SOCS)
Credits: 4.0 [max 4.0]
Course Equivalencies: 00518 - PSTL 1281/Psy 1001/Psy 1001H
Typically offered: Every Fall, Spring & Summer
Scientific study of human behavior. Problems, methods, findings of modern psychology.
BA 3000 - Career Skills
Credits: 1.0 [max 1.0]
Grading Basis: S-N only
Typically offered: Every Fall, Spring & Summer
Career planning. Use of Carlson School of Management's Business Career Center. Awareness, knowledge, skills associated with career/job search process. prereq: CSOM [soph or upper div] major, MACC, MBT
ACCT 3001 - Introduction to Management Accounting
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Costing techniques, including activity-based costing. Applying costing methods to determine costs of products, services, and production processes. Use of costs in operating/strategic decisions. prereq: 2050
FINA 3001 - Finance Fundamentals
Credits: 3.0 [max 3.0]
Course Equivalencies: Fina 3000/3001/ApEc 3501
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Financial management principles. Money/capital markets, risk/return/valuation triad, capital budgeting. Capital structure, financial leverage. Cost of capital, financial performance measures, dividend policy, working capital management, international financial management/derivatives. prereq: ACCT 2050, OMS 2550
HRIR 3021 - Human Resource Management and Industrial Relations
Credits: 3.0 [max 3.0]
Course Equivalencies: 00064 - HRIR 3021/IBus 3021
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Role of human resource professional as strategic partner in managing organizations. Human resource management in achieving organizational performance. Legal environment. Job analysis. Recruiting/selection. Training/development. Performance management. Total rewards. Labor relations. Ethical issues. prereq: ECON 1101, ECON 1102, PSY 1001
IDSC 3001 - Information Systems for Business Processes and Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Developing/using IS to support business processes, managerial decision making, and organizational strategy. Technology components of IS. Impact on organizations. Creation/change processes. Managerial issues. Techniques for designing, developing, and implementing IS. Databases and user interfaces. Computer/communications network platforms. Internet, e-business, and e-commerce applications.
MGMT 3001 - Fundamentals of Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Aspects/characteristics of organizations, their members. Why people/groups feel/behave as they do. Processes/methods that improve behavior/attitudes/effectiveness of members. Member/manager skills. Guest speakers, group presentations, films.
MKTG 3001 - Principles of Marketing
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to terms, concepts, and skills for analyzing marketing problems. Factors outside the organization affecting its product, pricing, promotion, and distribution decisions. Cases from actual organizations. prereq: ECON 1101
SCO 3001 - Introduction to Operations Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Concepts, principles, and techniques for managing manufacturing/service operations. Emphasizes decision making in operations function of organizations. Quantitative/qualitative methods for improving management of operations.
MGMT 3033W - Business Communication (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 01482
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Written/oral communication skills for effective participation in contempory organizations. From basic principles to communication strategy. Communication technology. Cases, simulations of "real-world" situations. Student small groups meet with instructor three times for presentation coaching/feedback. Recitation times are arranged with instructor at start of semester. prereq: Fr composition, CSOM upper-div, at least 60 cr
MGMT 3040 - Understanding the International Environment of Firms: International Business
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Theories, frameworks, tools, and facts for understanding the environment of firms in international competition. Main world-level economic flows (trade, investment, finance). How country-/industry-level economic, political, and sociocultural factors influence behavior/functions of firms in international competition. prereq: 1001 or 1001H or 3001
MGMT 4004W - Business Policy: Strategy Formulation and Implementation (WI)
Credits: 3.0 [max 3.0]
Course Equivalencies: 01692 - Mgmt 3004/Mgmt 4004W
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Integrative perspective on overall direction of the enterprise involving both choice of products and markets and selection of organization structures and management styles; case analysis involving the identification of key issues, evaluation of options, and making recommendations under conditions of uncertainty and incomplete information. prereq: 3040, 90 cr, completion of business core courses
INS 4100 - Corporate Risk Management
Credits: 2.0 [max 2.0]
Typically offered: Every Fall & Spring
Theory applied to corporate risk management and insurance practices. Identification, measurement, and treatment of an organization.s financial risks integrated with its property, liability, workers compensation, and human resource risks. Selection and application of risk control and risk financing tools: risk retention, reduction and transfer, including insurance.
INS 4101 - Employee Benefits
Credits: 2.0 [max 2.0]
Typically offered: Every Fall
Design/administration of employee benefit plans/pension. Health insurance, disability plans. Salary reduction/deferred compensation programs. Multiple employer trusts. Alternative funding methods, including self-insurance. Ethical issues, legal liability, compliance.
INS 4200 - Insurance Theory and Practice
Credits: 2.0 [max 2.0]
Typically offered: Every Spring
Risk theory is applied to practices in health, liability, life, property, and workers compensation insurance. Insurance marketing, pricing, underwriting, and claims administration, with adverse selection and moral hazard effects. Policy issues of tort versus no-fault compensation systems. Self-insurance and integrated risk financing methods.
BLAW 3058 - The Law of Contracts and Agency
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Origin of law, its place in and effect on society; history and development of law; system of courts; legal procedure. Law of contracts as the basic law affecting business transaction. Laws affecting the sale of goods and contracts and the law of agency. prereq: 40 or more credits
FINA 4242W - Corporate Investment Decisions (WI)
Credits: 4.0 [max 4.0]
Course Equivalencies: 01760 - Fina 4229/Fina 4242
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Managing firm's investment in working capital/fixed assets. Capstone course requiring application of corporate valuation principles from earlier coursework to cases involving working capital management, making capital budgeting decisions, targeting/evaluating firm performance, assessing mergers/acquisitions, and other topics. prereq: 3001, 4121 or 4121H, 4321 or 4321H, 4422, 4522, CSOM major
MATH 4065 - Theory of Interest
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Time value of money, compound interest and general annuities, loans, bonds, general cash flows, basic financial derivatives and their valuation. Primarily for students who are interested in actuarial mathematics. prereq: 1272 or 1372 or 1572
MATH 5067 - Actuarial Mathematics I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Future lifetime random variable, survival function. Insurance, life annuity, future loss random variables. Net single premium, actuarial present value, net premium, net reserves. prereq: 4065, [one sem [4xxx or 5xxx] [probability or statistics] course]
MATH 5068 - Actuarial Mathematics II
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Multiple decrement insurance, pension valuation. Expense analysis, gross premium, reserves. Problem of withdrawals. Regulatory reserving systems. Minimum cash values. Additional topics at instructor's discretion. prereq: 5067