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Butler University Bulletin

Lacy School Majors and Minors

Accounting

The accounting major focuses on developing the knowledge and skills necessary to become a successful professional. Knowledge includes course work in a variety of accounting topics—financial, managerial, tax, auditing, and information systems. The program emphasizes the development of intellectual, communication, and interpersonal skills. Graduates may prepare themselves to sit for professional exams, including the CPA and CMA exams, and are equipped to become professionals in diverse environments including public accounting, private business, government, and other organizations.

Accounting Student Learning Outcomes

Graduates will be able to:

  • Explain and apply GAAP and identify the authoritative sources in which they are found
  • Explain the basic purpose of financial reporting and the theoretical concepts that underlie GAAP as described in the Financial Accounting Standards Board’s Conceptual Framework
  • Identify and describe the information system’s internal control procedures as required by external accounting regulators

Economics

The major in economics builds on the 9-hour requirement of economics taken by all business students and focuses on the behavior of both large and small decision-making units. It provides the student with problem-solving and data-gathering skills to make informed decisions in a variety of settings (e.g., business, government, and nonprofit) and for a variety of job responsibilities, from an entry-level position in a management training program, on the one hand, to a CEO of a corporation, on the other. A student with a major in economics may enter many professions, including financial services, government, journalism, banking, and general business. Further, economics provides a useful background for students wishing to do graduate work in business administration, international relations, public policy, law, and economics.

Economics Student Learning Outcomes

Graduates will be able to:

  • Determine how market structure affects market prices, quantities, and profitability
  • Investigate the relationship of the international economy to the domestic economy, including the role of exchange rates
  • Use econometric techniques to estimate underlying relationships in economic models and interpret the results

Entrepreneurship and Innovation

The entrepreneurship and innovation major provides students with a fundamental understanding of the dynamic process of creating something unique and adding value by applying an innovative mind-set and an action-oriented perspective, while taking calculated risks. It also equips students to apply this way of thinking and set of behaviors in new and existing organizations, whether for-profit or nonprofit. The program includes a foundational course in creativity and innovation as well as a required practicum where students run their own business. Additional electives include, but are not limited to, entrepreneurial finance, social entrepreneurship, and salesmanship. It prepares graduates to begin their careers as independent entrepreneurs, as managers of new-venture divisions of major corporations and other innovative corporate endeavors, or in venture capital and investment banking activities.

Entrepreneurship and Innovation Student Learning Outcomes

Graduates will be able to:

  • Identify and evaluate potential business opportunities
  • Create and implement a business plan in an effective manner
  • Explain how innovativeness, proactiveness, and calculated risk taking contribute to the success of an organization

Finance

The finance major is designed to provide students with a management-level understanding of contemporary philosophies and tools available to firms in acquiring and using capital. The program includes basic financial management, investment theory and practice, and management of financial institutions. Graduates are well prepared for careers in investments, corporate finance, bank management, insurance, and related fields.

Finance Student Learning Outcomes

Graduates will be able to:

  • Explain investment decisions based on time value of money principles
  • Appropriately structure a portfolio of investments applying the related concepts of diversification, portfolio theory, and asset allocation
  • Incorporate the role of globalization in financial decision making

International Business

The international business major is designed to provide students with a multidisciplinary degree focused on the international business world. Students gain knowledge and skills to prepare them for the global environment of business.

To facilitate their career, a concentration is encouraged, but not required, in a functional area of business such as marketing or finance. Study abroad is a highly recommended and integral part of the major. Graduates are well prepared for entry-level positions in the discipline of focus and often pursue careers with corporations with international divisions or aspirations. Some work for nonprofits, governments, or start their own businesses. Most begin their careers in a U.S.-based organization that does business around the world.

International Business Student Learning Outcomes

Graduates will be able to:

  • Identify contemporary, global macro-environmental trends and issues, and describe opportunities and threats they present to businesses
  • Demonstrate the ability to conceptualize business from a global perspective
  • Demonstrate the ability to communicate in a second language

Management Information Systems

MIS majors are able to combine a foundational knowledge of computer programming and information systems with a broad business background. In large firms, graduates can bridge the gaps between formally trained computer scientists and functional-area employees. In smaller firms, Butler graduates can manage MIS systems, perhaps designing and maintaining computer-based systems that provide information throughout the firm. They also can act as support personnel and are able to effectively communicate with suppliers, consultants, and service professionals.

Management Information Systems Student Learning Outcomes

Graduates will be able to recognize and apply the necessary balance among people, processes, and technology to implement a successful management information system.

Marketing

Marketing encompasses all the activities undertaken by organizations to design and deliver products and services that satisfy customer needs and wants. The marketing curriculum at Butler helps students understand these activities in the context of the other functions of the organization as well. Basic areas of study include marketing management, marketing research, advertising and promotion, personal selling, and strategic planning of marketing programs. Students are prepared for careers in sales, retailing, marketing research, product management, and related areas.

Marketing Student Learning Outcomes

Graduates will be able to:

  • Analyze and create a strategic marketing plan, including mission and objective development, situational analysis, target marketing development, marketing mix, and control and evaluation
  • Implement multiple marketing strategic frameworks

Risk Management and Insurance

The risk management and insurance major provides students with a fundamental understanding of the effect of risks, especially pure risks, on individuals and organizations. It also equips them to properly evaluate these risks and devise a plan for addressing risks with the tools available to the modern risk manager. The program includes a foundation course in risk management as well as electives in insurance company operations, types of insurance, the use of derivatives, and other skills-related courses. It prepares graduates for most entry-level jobs in an insurance company, in the management of employee benefits, and in corporate risk management.

Risk Management and Insurance Student Learning Outcomes

Graduates will be able to:

  • Explain the effects of risk, especially pure risk, on the lives of individuals and organizations
  • Properly evaluate risks and select the appropriate risk management tool to deal with those risks

Minors in Business

Students with primary majors in other colleges may pursue a variety of minor programs (18 to 21 credit hours) in business. The School offers minors in business law, entrepreneurship and innovation, healthcare management, international business, management information systems, marketing, and risk management and insurance, as well as a general business minor. There are separate minor programs in healthcare management and management information systems designed for students with a major in business. Details and curriculum guides are available in the Lacy School of Business office and online.