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General Bulletin 2004-2006

Programs of Study

The Richard T. Farmer School of Business Administration

Mission Statement

The Richard T. Farmer School of Business is committed to being a premier business program that provides students with the lifelong ability to acquire knowledge and translate it into responsible action in a competitive global environment

General Information

The objective of the Richard T. Farmer School of Business is to prepare young men and women of character and intellectual ability for positions in business, government, and other complex organizations. Upon graduation, their educational preparation is such that, with experience and growth, they should progress to positions of increasing administrative or executive responsibility.

The School offers associate's (two-year), bachelor's, and master's degree programs. Undergraduate certificate programs are also available. Master's degree programs are described in the Graduate Bulletin, available from the Graduate School. Certificate and associate's degree programs are described in the Hamilton and Middletown chapter.

Bachelor's degree majors are offered in nine areas: accountancy, business-economics, decision sciences, finance, interdisciplinary business management, management (human resource, operations, organizational leadership), management information systems, marketing, and supply chain management. The flexibility of each program allows a student to pursue areas of special interests and needs. Minors are available in arts management, business legal studies, decision sciences in business, economics, entrepreneurship, finance, international business, management, management information systems, marketing, risk management and insurance, and supply chain management.

Accreditation

The Richard T. Farmer School of Business has been accredited by the Association to Advance Collegiate Schools of Business at the undergraduate level since 1932 and at the graduate level since 1961. This association is the only agency recognized nationally to accredit in the area of professional education for business at the collegiate level. Its standards include an evaluation of faculty competence, library facilities, physical plant and equipment, financial support of the institution, and the content and breadth of both the professional and nonprofessional curricular requirements.

Advisory Committees

The Business Advisory Council is composed of over fifty leading business executives, most of whom are alumni of the School. The council meets with the dean, faculty, and students twice a year to give advice on the School's programs. The council is very helpful to the School's continuing efforts to maintain excellence in education for future business leaders.

The School also meets regularly with several other external councils who provide feedback on our various programs: Richard T. Farmer Board of Visitors, Business Information Systems Advisory Council, Thomas C. Page Center for Entrepreneurship Advisory Council, Department of Accountancy Advisory Group, and the Center for Sustainable Systems External Advisory Council.

The Business Student Advisory Committee provides excellent means of communication between students and faculty. Members of this committee include students from all programs and class years within the school and representatives from various business student organizations.

Divisional and Departmental Honors

The School of Business offers a divisional honors program for students who qualify and who desire more intensive work under the guidance of a faculty mentor(s). Additionally, the Department of Economics offers a separate departmental honors program (see requirements under that heading). Students who successfully complete one or both of these programs will graduate with the appropriate honors notation on their transcript and under their names in the commencement program.

Students are admitted to the SBA honors program based on their ACT (SAT) score, class rank, letters of recommendation, and essay. The decision to admit a student is made by the SBA Honors Committee. Approximately forty (40) students are admitted each year. The majority of students who qualify are admitted into the divisional honors program during their senior year of high school as part of their overall admission to the university, however, the SBA Honors Committe may admit sophomores into the program as space allows.

Both divisional and departmental honors programs in the School of Business Administration may be coordinated and integrated with the University Honors Program. A common project may serve divisional, departmental, and university honors, but separate and distinct presentations must be made to earn each honors notation.

For more information, contact the Undergraduate Advising Office at the Richard T. Farmer School of Business, 103 Laws Hall (513-529-1712).

Honorary and Professional Organizations

The School seeks to improve the quality of its programs and provide educational development opportunities for its students through its honorary and professional organizations.

Beta Gamma Sigma, the national scholarship society founded in 1913 to encourage and reward scholarship and accomplishment among students of business administration, has an active chapter at Miami University. Eligibility for election is restricted to the upper 7 percent of the junior class and the upper 10 percent of the senior class.

Alpha Iota Delta is a national decision sciences honorary that elects its members on the basis of scholastic achievement. Alpha Mu Alpha is a national marketing honorary that elects its members on the basis of scholastic achievement.

Beta Alpha Psi is a national accounting honorary that elects its members on the basis of scholastic achievement in accountancy courses. Omicron Delta Epsilon is a national economics honorary that elects its members on the basis of scholastic achievement in economics courses.

Students also are encouraged to participate in student professional organizations, which include: AIESEC in the international field; Alpha Kappa Psi; Alpha Upsilon chapter of Delta Sigma Pi, a professional business fraternity; American Production and Inventory Control Society; Association of Information Technology Professionals (AITP); Buck Rodgers Business Leadership Program; Decision Sciences Association (DSCA); Economics Club; Graduate Business Association; Ingenuity, Inc., the Student Entrepreneurial Society; KEYS, an organization open to all students, designed to supplement preparation of members for business careers; Miami Business Consulting; Miami Decision Sciences Association; Miami Finance Association; Miami Marketing Enterprises; Miami Purchasing Association; Multicultural Business Student Network; Pi Sigma Epsilon, a professional fraternity in marketing, sales management, and selling; Society for Human Reources Administration; and Student Accounting Society.

Advisers

Upperclass advisers for all business majors are assigned by the department of major, and the assignment is posted. Each program also has a chief adviser who coordinates the advising procedures within a department and represents the department on the committee that hears student petitions, the Divisional Committee of Advisers. Divisional advisers are also available to help business students with special problems.

Special Admission Requirements

Admission to the Richard T. Farmer School of Business is limited, and the criteria for admission are subject to change as enrollment demands vary.

Freshman Admission: Entering freshmen who are admitted to and participate in the School of Business Honors Program are afforded regular business standing upon initial enrollment.

Regular Admission: All other entering freshmen, admitted to the School as “pre-business” majors will advance to regular business upon successful completion of all admission requirements. The requirements are 60 semester hours including ACC 221, ACC 222, DSC 205, ECO 201, ECO 202, MIS 235, and MTH 151 with a 3.0 g.p.a. on the combination of all business core courses and Miami Plan courses. In addition, a minimum of twelve semester hours of business core courses must be completed at Miami.

Pre-business students who do not meet the conditions of regular standing will not be permitted to enroll in 300-400 level courses.

Students who fail to meet admission requirements may be eligible to petition for admission; a limited number will be accepted. Please contact the advising office for more information.

Transfer Admission: All other students may be admitted to the Richard T. Farmer School of Business upon application and successful completion of all admission requirements. Applications to the School are accepted only at designated times; contact the advising office in 103 Laws Hall or visit the School of Business Web site (www.sba.muohio.edu) for current admission requirements and application procedures.

Students who have applied, but fail to meet admission requirements, may be eligible to petition for admission; a limited number will be accepted. Please contact the advising office for more information.

The business technology programs on the regional campuses do not have these special admission policies.

Credit Hour Limitations

Students may accelerate their programs by registering in excess of the average 16 hours per semester needed to complete the program in eight semesters. Registrations of up to 20 hours are permitted in a regular semester or eight hours in a five- or six-week summer term. Course loads in excess of these limitations require permission from the advising office. Requests are considered only if the student earned a 3.5 grade point average for the preceding semester or is a senior who earned a 3.0 the previous semester.

Division Curriculum Requirements

In addition to the Miami Plan requirements, all business programs have a core of basic courses in accounting, information systems, economics, finance, business law, statistics, organizational behavior, marketing, operations, speaking skills, and calculus. This core is described in detail later. The following requirements apply to all business majors:

Business Capstone Experience

In addition to completing a Miami Plan Capstone Experience, all business majors must complete a business Capstone Experience. You should complete the business core first. The business Capstones are senior level experiences which are writing and speaking intensive, provide for multiple skill development, and integrate the business course work you have already completed.

All business Capstones are also Miami Plan Capstones; you may fulfill both requirements with one course. You are encouraged to consider a Capstone from any business department. A complete list is available on your DARS or in the advising office.

Communication Requirement

All business programs require COM 135 Public Expression and Critical Inquiry. In addition, each major incorporates communication across the curriculum so that writing and speaking skills are important characteristics of that program.

Credit/No-Credit

All business courses, COM 135, MTH 151 or 153, and any other specifically required course (except freshman English) or major requirement must be taken for a grade and not credit/no-credit.

Diversity Perspectives Requirement

You must complete at least one course that provides an understanding of diversity perspectives. This course may be selected from any division and may overlap with your Foundation courses, Thematic Sequence, major, or electives. A list of approved courses is available from the academic adviser or the advising office in 103 Laws Hall.

Grade Point Average

A minimum 2.0 cumulative grade point average in business courses is required for graduation.

International Course Requirement

You must complete at least one course that provides an understanding of international concerns. This course may be selected from any division and may overlap with your Foundation courses, Thematic Sequence, major, or electives. A list of approved courses is available from the academic adviser or the advising office in 103 Laws Hall.

Mathematics Requirement

All business students must complete MTH 151 or 153 Calculus I or equivalent. Completion of this course is required for advancement from pre- to regular business standing or for transfer into the School of Business from another academic division or another college or university. Advanced placement credit for MTH 151 is accepted toward fulfillment of this requirement.

Non-Business Requirement

All business majors must take at least 50 percent of their hours required for graduation outside of the business school. You can include up to nine hours of economics and six hours of statistics courses (DSC/STA) toward meeting this requirement. This means that business majors who enter Miami as freshmen must complete at least 64 hours outside of the Richard T. Farmer School of Business .

Residency Requirement

All business majors must complete at least 50 percent of their business courses required for their business degree at Miami University. These courses include the core business classes and the courses required for a primary major. These required courses include DSC 205, ECO 201 and 202, but do not include COM 135 or MTH 151.

Statistics Requirement

You are expected to take DSC 205 Business Statistics. Any other introductory probability and statistics course is considered duplicate credit. Students with advanced placement or transferred hours in probability and statistics should consult with the decision sciences and management information systems department before enrolling in DSC 205.

Technology Requirement

Students are expected to take MIS 235 Information Systems: Concepts, Technology, and Applications. The prerequisite for MIS 235 is database and spreadsheet proficiency. Students who plan to complete courses in systems analysis should consult with the decision sciences and management information systems department before enrolling in MIS 235 or in systems analysis courses to avoid duplicate credit.

Thematic Sequence Requirement

Business students must complete a thematic sequence from a department outside the School of Business. Alternatively, a nonbusiness minor, which includes a thematic sequence, or a second degree may be utilized to meet the requirement.

Transfer of Course Credit

All transferred course credits intended to apply to specific course requirements for any business program are subject to approval of the department concerned. If credit hours earned are less than Miami's equivalent courses, they must be validated by the department. A department may require an examination or completion of a higher level course to validate transfer credit.

The Department of Accountancy requires transfer students majoring in accountancy to complete at least four junior or senior level accountancy courses at Miami University with at least a 2.0 grade point average.

The Department of Economics requires all majors to complete at least nine hours of advanced economics (above the 300 level) at Miami. Six of the nine hours should be intermediate theory courses ECO 315 and 317. Any transfer credit exception for these two courses must be approved by the director of undergraduate studies.

The Department of Finance requires students majoring in finance to complete at least 12 elective hours of finance courses at Miami.

Curriculum Options

You are responsible for completing the curriculum that is in effect the date of your initial Miami enrollment. However, since programs offered by the Richard T. Farmer School of Business change as new courses are added and programs are modified, you may opt to complete a revised program in its entirety.

Double Majors

A student who has earned 60 or more semester hours with a 3.5 or higher g.p.a. on the combination of Miami Plan and business core course work is permitted to declare a second major in business. Approval of the second major by the academic department is required.

Basic Requirements: Bachelor of Science in Business

To graduate from Miami University with a Bachelor of Science in Business, you must:

  • Earn a minimum of 128 semester hours
  • Complete the Miami Plan, the common core of business courses, the communication sequence, the calculus requirement, and the required electives
  • Complete the requirements of one major field
  • Earn at least a 2.0 cumulative g.p.a. in all business courses attempted
  • Complete at least 64 semester hours of course work in non-business departments

Common Core of Business Courses

(47-49 semester hours)
All of these:
ACC 221 Introduction to Financial Accounting (3)
ACC 222 Introduction to Managerial Accounting (3)
COM 135 Introduction to Public Expression and Critical Inquiry (MPF IIB) (3)
DSC 205 Business Statistics (4)
ECO 201 Principles of Microeconomics (MPF IIC) (3)
ECO 202 Principles of Macroeconomics (MPF IIC) (3)
FIN 301 Introduction to Business Finance (3)
FIN 342 Legal Environment of Business (3)
MGT 291 Organizational Behavior and Theory (3)
MGT 302 Operations Management (3)
MIS 235 Information Systems: Concepts, Technology, and Applications (3)
MKT 291 Principles of Marketing (3)
MTH 151 (MPF V) or 153 Calculus I (MPF V), or MTH 249 (MPF V) or 251 Calculus II (4-5)
SBA Senior Capstone Experience (3)
International course requirement (2-4)

Professional Electives

Several programs require a specified number of professional electives. A professional elective is any course not required for the major that is offered in any business school department except business technology.

Other Electives

You are encouraged to use the remaining hours in your program to broaden your educational base with courses from other divisions of the university, especially in the College of Arts and Science, and/or to supplement your business programs with additional business courses beyond your major requirements. Students enrolled in a four-year bachelor's degree program in business may apply a maximum of 12 credit hours earned in business technology courses to the degree. Business technology courses, however, do not qualify as either professional or nonprofessional electives.

If you hold an associate's degree in business technology and wish to earn credit toward a B.S. in Business, you may want to inquire about proficiency examinations in subjects covered in your business technology courses. Consult with the appropriate business school department on the Oxford campus.

Suggested Course Pattern: Bachelor of Science in Business

Freshman year
Foundation courses (15-21)
MTH 151 Calculus I (or equivalent) (MPF V) (4-5)
Electives (6-12)

Sophomore year
ACC 221 Introduction to Financial Accounting (3)
ACC 222 Introduction to Managerial Accounting (3)
COM 135 Public Expression and Critical Inquiry (MPF IIB) (3)
DSC 205 Business Statistics (4)
ECO 201 Principles of Microeconomics (MPF IIC) (3)
ECO 202 Principles of Macroeconomics (MPF IIC) (3)
MGT 291 Organizational Behavior and Theory (3) or
MKT 291 Principles of Marketing (3)
MIS 235 Information Systems: Concepts, Technology, and Applications (3)
Foundation, Thematic Sequence, and electives (7)

Junior year
FIN 301 Introduction to Business Finance (3)
FIN 342 Legal Environment of Business (3)
MGT 302 Operations Management (3)
MKT 291 Principles of Marketing (3) or
MGT 291 Organizational Behavior and Theory (3)
International requirement (2-4)
Foundation, Thematic Sequence, major, and electives (17)

Senior year
SBA Senior Capstone (MP) (3)
Major and electives (29)

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