Business Minor
An element of the Wm. Polk Carey Pre-business Program, the business minor is anchored in the belief that a liberal arts education offers the best foundation for a business career. Such an education provides broad understanding of human behavior and institutions, appreciation of global culture and of peoples around the world, and perspectives for developing personal values and ethical standards. It also encourages the sort of creativity and flexibility of mind that business leadership demands.
The business minor requires students to take courses in economics, accounting, finance, and business ethics and to elect specified courses from the disciplines of economics, psychology, political science, and computer science. In choosing elective courses, students must select one of three tracks: Managerial, International, or Finance. The Managerial track is for students who wish to concentrate their electives in courses directly relevant to the management of complex business organizations. The International track is for students who have a particular interest in international business. The Finance track is designed for students wishing to acquire a comprehensive grounding in modern finance. Finance I, II, and III cover all topics on the Chartered Financial Analysts (CFA) exam and will be of special interest to students contemplating careers in finance or those who plan to take the CFA exam.
Business minors can apply during the fall of their sophomore to become Carey Fellows. The designation of Carey Fellow brings with it both a mark of distinction and additional requirements designed to prepare fellows for leadership positions in business and finance. The business minor and the prebusiness program are also supported, with practical benefits as well as intellectually stimulating offerings, by The Babson Center for Global Commerce, which is directed by Mr. Chip Manning.
Requirements for the Business Minor
Minor Requirements
Six courses, within at least three different disciplines,* must be completed for the minor. The following four courses are required of all minors:
- Acct 215: Fundamentals of Financial Accounting
- Econ 101: Introduction to Economics
- Econ 360: Finance I
- Phil 232: Business Ethics
In addition, minors must complete two elective courses identified under a common track.
*For purposes of the minor, these disciplines are understood to comprise the following: accounting, computer science, economics, philosophy, political science, and psychology.
The tracks and elective courses are as follows:
Managerial Track
- Acct 216: Fundamentals of Managerial Accounting
- CSci 348: Databases
- Econ 304: Labor Economics
- Econ 315: Industrial Organization and Public Policy
- Econ 341: Game theory
- Econ 348: Social Entrepreneurship
- Psyc 203: Social Psychology
- Psyc 206: Industrial Psychology
- Psyc 208: Cognitive Psychology
International Track
- Econ 310: Economic Development in the Third World
- Econ 337: International Economics
- Econ 345: Economic Development in China
- Econ 347: Microfinance Institutions in South Asia
- PolS 250: States and Markets in East Asia
- PolS 366: International Political Economy
- PolS 402: Topics in Political Economy
Finance Track
- Econ 361: Finance II
- Econ 362: Finance III
Course Sequence and Timing
Finance I, which is required of all students, has a prerequisite of statistics (Math 204) and Introduction to Economics (Econ 101). All business minors should have completed Math 204 and Econ 101 by the end of their sophomore year. Business minors, who elect the Finance track, should complete the courses below by the end of the year specified:
- Freshman Year: Econ 101, Math 204
- Sophomore Year: Accounting I, Finance I
- Junior Year: Finance II
- Senior Year: Finance III
Carey Fellows
Prospective business minors may apply in November of their sophomore year to be designated as Carey Fellows. Carey Fellows are required to maintain a 3.33 GPA. In addition to completing course requirements for the minor, Carey Fellows must complete a semester-long internship off campus in their junior year, attend a Sewanee summer school session, complete two Proseminar courses in their junior year and senior year and attend a specified number of Babson Center for Global Commerce events.
Internship Requirement
With assistance from the Director of the Babson Center for Global Commerce, Fellows must secure and complete a semester-long internship off-campus during their junior year.
Summer School Requirement
Fellows must complete two full courses, normally Finance I and Business Ethics, during the summer school session following their sophomore year. Students who have already completed one of these courses may pursue another schedule of summer courses in consultation with the prebusiness advisor.
Proseminar Course Requirement
During their junior year and senior year, fellows must complete two proseminar courses (Econ 352 and Econ 353) designed to complement their internship experience. Each seminar includes reading on topics such as Business History or Philosophical Perspectives on Capitalism.
The proseminars also draw on academic work within the business minor to enhance spreadsheet modeling skills, writing skills, and speaking skills. One full course (four semester hours of credit) will be awarded for completion of each seminar.
