REQUEST TO COLLEGE CURRICULUM COMMITTEE FOR CURRICULAR IMPROVEMENTS
DEPARTMENT: FCL
PROPOSED EFFECTIVE SEMESTER: Fall 2009
PROPOSED IMPROVEMENTS
Academic Program
Substantive Course Changes
New degree*
New course
New major*
Pre or Co-requisites
New curriculum*
Deletion (required by others)
New concentration*
Course #, different level
New certificate
Credit hours
New minor
Enrollment restriction
Revised major
Course-level restriction
Revised minor
Prefix
Title and description
Admission requirements
(attach current & proposed)
Graduation requirements
General education (select one)
Deletion
Transfer
Not Applicable
Other (explain**)
Other (explain**)
COLLEGE:Haworth College of Bus
Misc. Course Changes
Title
Description (attach current & proposed)
Deletion (not required by others)
Course #, same level
Variable credit
Credit/no credit
Cross-listing
COGE reapproval
Other (explain**)
** Other:
Title of degree, curriculum, major, minor, concentration, or certificate:
Existing course prefix and #:
Proposed course prefix and #: BUS 3001 Credit hours: 3
Existing course title:
Proposed course title: Finance
Existing course prerequisite & co-requisite(s):
Proposed course prerequisite(s) BUS 2001: Accounting
If there are multiple prerequisites, connect with “and” or “or”. To remove prerequisites, enter “none.”
Proposed course co-requisite(s)
If there are multiple corequisites, they are always joined by “and.”
Proposed course prerequisite(s) that can also be taken concurrently:
Is there a minimum grade for the prerequisites or corequisites?
The default grades are D for undergraduates and C for graduates.
Major/minor or classification restrictions:
List the Banner 4 character codes and whether they should be included or excluded.
For 5000 level prerequisites & corequisites: Do these apply to: (circle one) undergraduates
graduates
both
Specifications for University Schedule of Classes:
a. Course title (maximum of 30 spaces): Finance
b. Multi-topic course:
No
Yes
c. Repeatable for credit:
No
Yes
d. Mandatory credit/no credit:
No
Yes
e. Type of class and contact hours per week (check type and indicate hours as appropriate)
1.
Lecture 3
3.
Lecture/lab/discussion
5.
Independent study
2.
Lab or discussion
4.
Seminar or
studio
6.
Supervision or practicum
CIP Code (Registrar’s use only):
Chair/Director
Date
Chair, College Curriculum Committee
Date
Dean David Shields
Date:
Curriculum Manager: Return to dean
Date
Graduate Dean:
Forward to:
Date
Date
Chair, COGE/ PEB / FS President
FOR PROPOSALS REQUIRING GSC/USC REVIEW:
Date
*
Approve
Disapprove
Chair, GSC/USC
Date
*
Approve
Disapprove
Provost
Date
Revised May 2007. All previous forms are obsolete and should not be used.
1.
Explain briefly and clearly the proposed improvement.
This course is one of the required courses in the Business Administration Minor. It is an introduction to finance
principles. The only prerequisite is an accounting course, BUS 2001. The Department of Finance and Commercial
Law in the Haworth College of Business will offer and staff the course. The course is not equivalent to FIN 3200,
Business Finance and does not satisfy the BBA core finance requirement.
2.
Rationale. Give your reason(s) for the proposed improvement. (If your proposal includes prerequisites, justify those,
too.)
This course fulfills the finance requirement of the proposed Business Administration Minor. It provides the material
appropriate to junior students without covering the material needed for upper level courses in the B.B.A. program.
3.
Effect on other colleges, departments or programs. If consultation with others is required, attach evidence of
consultation and support. If objections have been raised, document the resolution. Demonstrate that the program you
propose is not a duplication of an existing one.
None.
4.
Effect on your department’s programs. Show how the proposed change fits with other departmental offerings.
BUS 3001 provides students with basic finance knowledge. This does not prepare them for upper level finance
courses. It does not assume the students have the knowledge and skills taught in the pre-BBA business courses.
5.
Effects on enrolled students: Are program conflicts avoided? Will your proposal make it easier or harder for students
to meet graduation requirements? Can students complete the program in a reasonable time? Show that you have
considered scheduling needs and demands on students’ time. If a required course will be offered during summer only,
provide a rationale.
No program conflicts are anticipated. Students who begin the BBA program and then shift to the Business Minor for NonBusiness students, could substitute FIN 3200, Business Finance, for BUS 3001. BUS 3001 does not satisfy BBA
requirement for FIN 3200.
Since it it part of the proposed Business Administration Minor for Non-Business Students, BUS 3001 should make it
easier for students to graduate in a timely way, due to the easing of enrollment requirements: fewer credit hours (26
instead of 56 credit hours) and lower GPA (2.0 instead of 2.5 GPA). Students could complete the 18 hours required
for this minor by the end of their junior year
6.
Student or external market demand. What is your anticipated student audience? What evidence of student or market
demand or need exists? What is the estimated enrollment? What other factors make your proposal beneficial to
students?
BUS 3001 is part of the proposed Business Administration. Non-business students are expected to find the proposed
Business Administration Minor for Non-Business Students an attractive option in conjunction with a major in Arts &
Sciences, Aviation, Education, Engineering, Fine Arts, or Health & Human Services. The proposed business
administration minor could provide a competitive edge for WMU students when applying for employment in a
business setting, e.g., a theatre major seeking employment with an event organizing firm, or a chemistry major
seeking a job in a chemical manufacturing firm, or a physical education major with an interest in exercise
management.
Demand within WMU is expected to be substantial. Anecdotal evidence suggests that students in other colleges are
very interested in taking business courses earlier than the currently required 56 credit hours, and without necessarily
meeting the same academic requirement as the BBA students of a 2.5 cumulative GPA
7.
Effects on resources. Explain how your proposal would affect department and University resources, including faculty,
equipment, space, technology, and library holdings. Tell how you will staff additions to the program. If more advising
will be needed, how will you provide for it? How often will course(s) be offered? What will be the initial one-time costs
and the ongoing base-funding costs for the proposed program? (Attach additional pages, as necessary.)
Faculty to teach the BUS 3001 could be drawn the finance faculty in the Haworth College of Business or from
knowledgeable persons in industry if the finance faculty is otherwise assigned. A member of the finance faculty would
oversee delivery of consistent quality in each course.
Effect on equipment, space, technology: Courses will be taught in Schneider Hall using existing technology.
Library holdings: No additional library resources are anticipated, as the students are current WMU students and the
materials are similar to the same current materials needed by existing courses.
Advising: In general, little advising would be needed for the non-business minors. Most students’ information needs
will be met with booklets that describe the proposed business minor requirements and show the seven course syllabi.
The advising office would receive students’ declared minor slips and include newly declared business minors in the
relevant database.
8.
General education criteria. For a general education course, indicate how this course will meet the criteria for the area
or proficiency. (See the General Education Policy for descriptions of each area and proficiency and the criteria. Attach
additional pages as necessary. Attach a syllabus if (a) proposing a new course, (b) requesting certification for
baccalaureate-level writing, or (c) requesting reapproval of an existing course.) NA
9. List the learning outcomes for the proposed course or the revised or proposed major, minor, or concentration. These
are the outcomes that the department will use for future assessments of the course or program.
Known key terms used in finance
Understand and be able to calculate key financial statements and ratios
Know basic finance principles such as time value of money
Be able to use basic finance principles to solve problems
10. Describe how this curriculum change is a response to assessment outcomes that are part of a departmental or college
assessment plan or informal assessment activities.
The accreditation association for business colleges, the Association to Advance Collegiate Schools of Business
(AACSB), continually revises its standards, most recently in January 2008. The proposed business administration
minor is expected to reduce the number of non-business majors in sophomore level BBA-required classes. This
reduction will assist HCoB’s efforts to meet an emerging informal standard among AACSB schools regarding faculty
to student ratios. The current HCoB ratio is substantially higher than those of our peer, competitor and aspirant
AACSB schools.
11. (Undergraduate proposals only) Describe, in detail, how this curriculum change affects transfer articulation for
Michigan community colleges. For course changes, include detail on necessary changes to transfer articulation from
Michigan community college courses. For new majors or minors, describe transfer guidelines to be developed with
Michigan community colleges. For revisions to majors or minors, describe necessary revisions to Michigan community
college guidelines. Department chairs should seek assistance from college advising directors or from the admissions
office in completing this section. NA This is a 3000 level course.
Course Catalog Description:
BUS 3001: Finance (3 Credit hours)
A survey of financial management for non-business majors, which will include corporate financial
management, financial markets, investments, ethics, and personal finance. The Department of Finance and
Commercial Law in the Haworth College of Business will offer and staff the course. The course is not
equivalent to FIN 3200, Business Finance and does not satisfy the BBA core finance requirement.