I. OVERVIEW and RATIONALE
A. Briefly describe the nature of the proposed program and explain why the institution
should offer it. [You may want to refer to student demand, market demand for graduates,
institutional strengths, disciplinary trends, synergy with existing programs, and/or
institutional strategic priorities.]
B. How big is the program expected to be? From what other programs serving current
students, or from what new populations of potential students, onsite or offsite, are you
expecting to draw?
A & B covered below.
The Robert H. Smith School of Business is requesting approval for a new undergraduate major entitled
“International Business”. The contents of this major are the same as the International Business
Specialization which is currently an option within the General Business, hereafter abbreviated as the
“GB-IB” option. The proposal is to create a new program called International Business to be separate
from General Business.
The main motivations for the current proposal are the need to recognize the reality that this program is a
separate and distinct offering and the need to give it an appropriate name. There is widespread use of
“International Business” as the name of the academic discipline that addresses the study of the domestic
and foreign environmental factors and administrative issues affecting the international operations of U.S.
business firms. The designation of the GB-IB option as “International Business” will reflect the
curriculum offered by the major more faithfully and will be consistent with the designations used by
other leading schools for their comparable programs.
We believe that the introduction of this new major is justified for the following reasons:
1.
The designation “International Business” is more understandable to students who consider,
choose, or graduate with this major from the Smith School of Business. Its status as only an
option within another program has led to confusion. Currently, the GB-IB option is thriving
within the School. As of the start of the Fall 2004 semester, approximately 270 Smith School
students have declared GB-IB option at College Park, and approximately another 70 students are
pursuing this option at Shady Grove. However, students who have been enrolled in the “GB-IB”
option are often confused by their status. Clearly, they view themselves as IB majors and
compare themselves to other IB majors in other universities. The “GB-IB” name and option were
adopted over a decade ago for reasons that were mostly tied to the prior history of this
specialization and are largely moot. In the interim, the field of international business continues
to gain prominence as an academic discipline within business schools. The program needs
independent status and International Business is clearly the appropriate name for it.
2.
A benchmarking study of undergraduate programs focusing on international business within
leading business schools conducted by the Logistics, Business & Public Policy faculty group
indicated that most programs with similar contents across the country are called international
business.
3.
As the Smith School of Business continues to enhance its international reputation in the field of
international business, our faculty and curriculum are and will continue to be recognized under
the common discipline name, international business. Therefore the name change would align our
official undergraduate program designation with the discipline name commonly used to site
academic excellence in this field.
4.
The current name of the major—General Business with a Specialization in International
Business—does not adequately reflect the updated curriculum, and does not correspond with
titles and definitions used by students and the employer community. The proposed name of
International Business has wide recognition among recruiters and students. All official
documents that contain the name of the major—as General Business with a Specialization in
International Business—are, therefore, potentially misleading, and fail to capture the recognition
of International Business as a viable discipline across the country. In addition, on the diploma
and in some cases on a transcript details about the specialization do not appear and only the title
General Business is visible. As a result, students, administrators, and employers often think
there is an error on the student’s record. The adoption of the name “International Business” will
solve this problem.
II. CURRICULUM
For your reference, below is a copy of the most recently approved curriculum for the International
Business Specialization of the General Business major. The proposed International Business Program
will adopt this curriculum. Details about the program are enclosed below.
III. FACULTY AND ORGANIZATION
A. Who will provide academic direction and oversight for the program? [This might be a
department, a departmental subgroup, a list of faculty members, or some other defined
group.]
The Logistics Business and Public Policy Department within the Smith School of Business will
provide academic direction and oversight for the program.
IV. COMMITMENT TO DIVERSITY
Identify specific actions and strategies that will be utilized to recruit and retain a diverse
student body.
Currently, the Smith School of Business student body closely resembles the campus student
body, and the Smith School continues to develop and administer new recruitment strategies and
initiatives to recruit and retain a diverse student body.
Catalog Description
International Business responds to the global interest in international economic systems and their
multicultural characteristics. This degree combines the college-required courses with International
Business courses and provides students the opportunity to apply a specified upper level foreign language
course toward this specialization’s requirements. It is strongly recommended that this program be
declared in combination with another major in or outside of business in order to assure that graduates
will have specialized career focus.
Program Requirements
Major Requirements
BMGT 392 Introduction to International Business Management
BMGT 446 International Finance
BMGT 454 International Marketing
BMGT 477 International Supply Chain Management
BMGT 463 Cross-cultural Challenges in Business
BMGT 466 Global Business Strategy
Total Major Requirements
3 cr
3 cr
3 cr
3 cr
3 cr
3 cr
18 cr
Upper Level Economics Requirement with Language Option
ECON 340 International Economics
3 cr
One additional course from the following courses:
3 cr
ECON 305 Intermediate Macroeconomic Theory & Policy
ECON 306 Intermediate Microeconomic Theory
ECON 315 Economic Development of Underdeveloped Areas
ECON 316 Economic Development of Latin America
ECON 330 Money and Banking
ECON 380 Comparative Economic Systems
or an agreed upon foreign language course
Current Language options:
CHIN 412 Business Chinese II
FREN 406 Commercial French II
GERM 412 German for International Business II
ITAL 406 Commercial Italian II
JAPN 404 Business Japanese II
RUSS 407 Commercial Russian II
SPAN 415 Commercial Spanish II
Total Upper Level ECON/Language requirements
6 cr
Additional Degree Requirements of the General Business, International Business Specialization
At the Smith School of Business, a minimum of 120 credit hours are required to complete a Bachelor of
Science degree. Besides the major requirements list above and the specific Smith School of Business
requirements listed below, a student must complete the University's CORE General Education
Requirements and sufficient lower and upper level elective credit to accumulate a total of 120 credit
hours. A minimum of 58 credit hours of the required 120 hours must be in 300-400 (upper) level
courses. Additional Smith School of Business degree requirements are listed below.
Freshmen/Sophomore Smith School Requirements
MATH 220* or 140** - Elem.Calculus I or Calculus I
BMGT 201*** - Computer Applications in Business
BMGT 220 & 221 - Principles of Accounting I & II
BMGT 230 or 231**** - Business Statistics
ECON 200 & 201 - Principles of Micro & Macro Economics
COMM 100 or 107 - Foundations of Speech Communications or
Speech Communication
Total
3-4 cr
3 cr
6 cr
3 cr
8 cr
3 cr
26-27 cr
*MATH 220 & 221 required for Operations and Quality Mgmt (managerial track) majors
**MATH 140 & 141 required for Information Systems and Operations and Quality Mgmt (technical
track) majors
***BMGT201 also satisfied by CMSC 102, 103 or advanced computer programming course.
****BMGT 231 required for Information Systems and Operations and Quality Mgmt (technical track)
majors
Junior/Senior Smith School Requirements
BMGT 340 - Business Finance
BMGT 350 - Marketing Principles
BMGT 364 - Management and Organization
BMGT 367 - Career Search Strategies and Business
BMGT 380 - Business Law
BMGT 495 - Business Policies
Total
3 cr
3 cr
3 cr
1 cr
3 cr
3 cr
16 cr
Typical 4 Year Plan
Year 1, First Term
Courses
ENGL101 (if not exempt) or
COMM107
MATH 220 (or as
placed)
ECON200
CORE class
Lower level elective
Year 1, Second Term
Credits
Courses
3
ECON201
4
3
4
3
3
16
MATH220 (if still needed) or BMGT230
COMM107
CORE
CORE
3
3
3
3
16
Year 2, First Term
Year 2, Second Term
Courses
Credits
BMGT220
3
BMGT230 (if still needed) or elective
3
Lower level elective
2
BMGT201 (if not exempt) or elective
3
CORE (Lab Science)
4
15
Courses
BMGT221
CORE
Remaining electives
CORE
Year 3, First Term
Year 3, Second Term
Courses
Credits
College Core
3
BMGT392 (Major requirement 1 of 6)
3
College Core
3
College Core
3
ECON340
3
BMGT367 (College
Core)
1
16
Courses
Upper level elective (1 of 4)
BMGT477 (Major requirement 2 of 6)
College Core
Advanced Studies Core
Upper level elective (2 of 4)
Year 4, First Term
Year 4, Second Term
Courses
2nd Upper Level ECON from options
BMGT454 (Major requirement 3 of 6)
BMGT446 (Major requirement 5 of 6)
Professional Writing
Upper level elective (3 of 4)
Credits
Credits
3
3
3
3
3
15
Credits
3
3
6
3
15
BMGT367 (if still needed)
Courses
BMGT495 (College Core) (340/350/364 prereqs)
BMGT463 (Major requirement 5 of
6)
BMGT466 (Major requirement 6 of 6)
Upper level elective (4 of 4)
Credits
3
3
3
3
3
1
15-16
Credits
3
3
3
3
12
Course Descriptions
ARHU 308 Critical Eras: An Interdisciplinary View (3) Repeatable to 6 credits if content differs. An
interdisciplinary exploration of a critical period, ranging from a year to an era, stressing the relationship
between different forms of human expression and the social milieu.
BMGT 372 Introduction to Logistics and Supply Chain Management (3) The study of logistics and
supply chain management involving the movement and storage of supplies, work-in-progress and
finished goods. Logistics cost trade-offs with the firm and between members of the supply chain are
examined.
BMGT 392 Introduction to International Business Management (3) Prerequisite: ECON 200; or
ECON 205. A study of the domestic and foreign environmental factors affecting the international
operations of U.S. business firms. The course also covers the administrative aspects of international
marketing, finance and management.
BMGT 446 International Finance (3) Prerequisite: BMGT 340. Financial management from the
perspective of the multinational corporation. Topics covered include the organization and functions of
foreign exchange and international capital markets, international capital budgeting, financing foreign
trade and designing a global financing strategy. Emphasis of the course is on how to manage exchange
and political risks while maximizing benefits from global opportunity sets faced by the firm.
BMGT 454 International Marketing (3) Prerequisites: BMGT 350 plus one other marketing course.
Marketing functions from the international executive's viewpoint, including coverage of international
marketing policies relating to product adaptation, data collection and analysis, channels of distribution,
pricing, communications, and cost analysis. Consideration is given to the cultural, legal, financial, and
organizational aspects of international marketing.
BMGT 463 Cross-cultural Challenges in Business (3) Examines in depth the nature of international
cultural value-differences and their behavioral-related effects in the workplace. Topics include decisionmaking and leadership styles and reactions to various work assignments and reward structures. (New
course proposal sent to VPAC for approval.)
BMGT 466 Global Business Strategy (3) Focuses on the strategic challenges that directly result from
and are associated with the globalization of industries and companies. Topics include drivers of industry
globalization, difference between global and multi-domestic insdustry, global expansion strategies,
sources of competitive advantage in a global context, and coordination of a company across a global
network. (New course proposal sent to VPAC for approval.)
BMGT 477 International Supply Chain Management (3) Prerequisites: BMGT 372. The study of the
importance of the supply chain management concept within an international arena. Coverage of the
structure, service, pricing and competitive relationships among international carriers and transport
intermediaries, documentation, location decisions, international sourcing and distribution and
management of inventory throughout the international supply chain.
ECON 305 Intermediate Macroeconomic Theory and Policy (3) Prerequisites: ECON 200; and
ECON 201; and MATH 220. Analysis of the determination of national income, employment, and price
levels. Discussion of consumption, investment, inflation, and government fiscal and monetary policy.
ECON 306 Intermediate Microeconomic Theory (3) Prerequisites: ECON 200; and ECON 201; and
MATH 220. Analysis of the theories of consumer behavior and of th firm, market systems, distribution
theory and the rol of externalities.
ECON 311 American Economic Development (3) Prerequisites: (ECON 200 and ECON 201); or
ECON 205. An analysis of the major issues in the growth and development of the American economy.
Basic economic theory related to such topics as agriculture, banking, industrialization, slavery,
transportation, and the depression of the 1930's.
ECON 315 Economic Development of Underdeveloped Areas (3) Prerequisites: (ECON 200 and
ECON 201) or ECON 205. Credit will be granted for only one of the following: ECON 315 or ECON
416. Analysis of the economic and social characteristics of underdeveloped areas. Recent theories of
economic development, obstacles to development, policies and planning for development.
ECON 316 Economic Development of Latin America (3) Prerequisites: (ECON 201 and ECON 203)
or ECON 205. Institutional characteristics of Latin America and an analysis of alternative strategies and
policies for development.
ECON 340 International Economics (3) Prerequisite: ECON 200 and ECON 201. Credit will be
granted for only one of the following: ECON 340 or ECON 440. Formerly ECON 440. A description of
international trade and the analysis of international transactions, exchange rates, and balance of
payments. Analysis of policies of protection, devaluation, and exchange rate stabilization and their
consequences.
ECON 350 Introduction to Public Sector Economics (3) Prerequisite: (ECON 200 and ECON 201) or
ECON 205. Credit will be granted for only one of the following: ECON 350 or ECON 450. Formerly
ECON 450. The role of federal, state, and local governments in meeting public wants. Analysis of
theories of taxation, public expenditures, government budgeting, benefit-cost analysis and income
redistribution, and thei policy applications.
ECON 361 Economics of American Industries (3) Prerequisites: (ECON 200 and ECON 201) or
ECON 205. A survey of industrial organization theory. Analysis of the structure, conduct, performance,
and public policies in selected American industries.
ECON 370 Labor Markets, Human Resources, and Trade Unions (3) Prerequisites: (ECON 200 and
ECON 201) or ECON 205. Credit will be granted for only one of the following: ECON 370 or ECON
470. A survey of labor markets and the American labor movement. Analysis of labor force growth and
composition, problems of unemployment and labor market operations, theories of wage determination,
the wage-price spiral, collective bargaining, and governmental regulation of employment and labor
relations.
ECON 374 Sex Roles in Economic Life (3) Prerequisites: (ECON 200 and ECON 201) or ECON 205.
Discrimination against women in the labor market; the division of labor in the home and the workplace
by sex; the child care industry; women in poverty.
ECON 375 Economics of Poverty and Discrimination (3) Prerequisites: (ECON 200 and ECON 201)
or ECON 205. The causes of the persistence of low income groups; the relationship of poverty to
technological change, to economic growth, and to education and training; economic results of
discrimination; proposed remedies for povert and discrimination.
ECON 380 Comparative Economic Systems (3) Prerequisites: (ECON 200 and ECON 201) or ECON
205. A comparative analysis of the theory and practice of various types of economic systems, with
special attention being given to the economic systems of the United States, the Soviet Union, Mainland
China, Western and Eastern Europe, and lesser developed countries.
CHIN 401 Readings in Modern Chinese I (3) Prerequisite: CHIN 302 or equivalent. Non-majors
admitted only after a placement interview. Readings in history, politics, economics, sociology, and
literature. Emphasis on wide-ranging, rapid reading, reinforced by conversations and compositions.
CHIN 402 Readings in Modern Chinese II (3) Prerequisite: CHIN 401 or equivalent. Non-majors
admitted only after a placement interview. Continuation of CHIN401.
CHIN411 Business Chinese I; (3) Prerequisite: CHIN 402 or permission of department. Non-majors
admitted only after a placement interview. Not open to students who have completed CHIN 303.
Conversation, reading, and writing applicable to Chinese business transactions, social meetings, and
meetings with government organizations, plus background material in English on professional business
practices and social customs associated with business.
CHIN412 Business Chinese II (3) Prerequisite: CHIN 411 or permission of department. Non-majors
admitted only after a placement interview. Not open to students who have completed CHIN 304.
Continuation of CHIN 411.
FREN 406 Commercial French II (3) Prerequisite: FREN 306 or permission of department. Advanced
study of commercial French language—terminology and style—leading to preparation for the Paris
Chamber of Commerce Examination.
FREN 473 The Construction of French Identity III: Cross-Cultural Approaches (3) to the Study of
Contemporary French Society Patterns of communication, mythology, and ideology in modern France,
from the Third Republic to the present, through historical and cross-cultural approaches, with reference
to the Francophone world.
FREN 474 Contemporary France: A Sociocritical Approach (3) Recommended: FREN 473. A
sociocritical approach to understanding modern French society through the study of print and non-print
media documents (autobiography, film, and paraliterature), with reference to the Francophone world.
GERM 411 German for International Business I (3) Prerequisite: GERM 302 or equivalent or
permission of department. Advanced skills in German for international business, including
understanding and writing correspondence, reports, graphics, ads, etc., according to current German
commercial style.
GERM 412 German for International Business II (3) Prerequisite: GERM 411 or equivalent or
permission of department. Continuation of GERM 411.
GERM 489 Selected Topics in Area Studies (1-3) Prerequisite: GERM 302 or equivalent or
permission of department. Repeatable to 6 credits if content differs.
HIST 319 Special Topics in History (3) Repeatable to 6 credits if content differs.
ITAL 406 Commercial Italian II (3) Prerequisite: ITAL 306. Advanced study of commercial Italian
language - terminology and style- in the area of business and finance. Emphasis on cross-cultural
communications and international business operations, including exporting and banking. Readings on
sociological issues of contemporary Italy used for written and oral practice of Italian and vocabulary
enrichment.
JAPN403 Business Japanese I (3) Prerequisite: JAPN 302 or equivalent. Formerly JAPN 303.
Conversation, reading, and writing applicable to Japanese business transactions, social meetings, and
meetings with government organizations, with background material in English on professional business
practices and social customs associated with business.
JAPN404 Business Japanese II (3) Prerequisite: JAPN 403 or equivalent. Formerly JAPN 304.
Continuation of JAPN 403.
RUSS 407 Commercial Russian II (3) Prerequisite: RUSS 307. Continuation of RUSS 307 focusing in
the more difficult and complex Russian business documents and Russian business ministries.
SPAN 422 Cross-Cultural Communication (3) Prerequisite: (SPAN 325 and SPAN 326) or (SPAN
346 and SPAN 347) or permission of department. Junior standing. Focuses on the relationship of
language and culture of those operating in world markets. Particular attention will be given to crosscultural communication, linguistic systems, and culture specific perceptions of the Hispanic world.
SPAN 415 Commercial Spanish II (3) Prerequisite: SPAN 315 or permission of department.
Sophomore standing. Business Spanish terminology, vocabulary and practices. Emphasis on everyday
spoken and written Spanish. Readings and discussions of international topics. Cross-cultural
considerations relative to international business operations, including exporting and banking.