2010-2011 Undergraduate Catalog

Marketing and Finance

Office: Stipes Hall 430
Telephone: (309) 298-1198
Fax:
(309) 298-2198
Website: wiu.edu/marketing

Faculty: Bauerly, Calvert, Chakravorti, Conrad, DeBoeuf, Drea, Gray, Hansen, Jennings, Johnson, J. Kenny, P. Kenny, Lee, Patterson, Pillutla, Singh, Tracey, Walsh, Yan.

The department offers three majors that are very different in perspective and career opportunities: Finance, Marketing, and Supply Chain Management.

Finance develops skills and knowledge necessary for the management of money. It is concerned with the process, institutions, markets, and instruments involved in the transfer of money among and between individuals, business, and government. This all takes place in a world which is changing in a variety of different directions, and the finance major will learn how to make sound decisions in this constantly shifting environment. In addition to class lectures, students will learn from techniques such as computer simulation, case studies, and field trips. Students will also have the opportunity to learn from representatives of corporations and government agencies who visit as guest speakers. Required study areas for the finance major include financial institutions, financial management, investment policy, insurance/risk management, and real estate. Additional studies may be taken in such courses as bank management, advanced financial management, security and portfolio analysis, personal and commercial lines of insurance, and real estate financing. Finance majors have excellent prospects for employment in financial institutions, brokerage or investment operations, and corporations or government agencies.

Marketing is the activity of developing products and services to satisfy customers’ needs and then making them available at the right places, at the right times, and at competitive prices. Changes in social and economic systems have created new challenges for marketing professionals. Increasingly, they must focus on both domestic and global opportunities in-step with ever evolving technologies. They must also be continually responsive to cultural differences and ethical issues. The WIU marketing degree offers students a broad-based education in a variety of marketing specialties including integrated marketing communications, retail management, and sales management. When combined with the capstone course in marketing management, students are qualified to assume a variety of careers including personal selling (for consumer and industrial products), advertising management, marketing research, retailing management, and public relations.

Supply Chain Management (SCM) is a field that cuts across the functional lines of a company. SCM involves managing the internal and external components of a supply system including purchasing parts and supplies, arranging transportation, and managing inventory levels. SCM professionals work with marketing, operations, accounting, and finance to ensure that products/services are available to the company and the consumer when needed while also controlling costs. Employment opportunities in SCM are particularly attractive with SCM graduates commanding above-average salaries in the fields of logistics, transportation management, inventory management, warehouse management, and purchasing. SCM majors will take courses in logistics, transportation, international business, professional selling, negotiations, and purchasing.

Courses required for the department's majors include the Business Core courses and the specified additional hours in the elected major. No minor is required in these programs.

The department offers minors in Finance, Marketing, Supply Chain Management, and International Business. Requirements for the minors are listed below. The hours earned in one of the above minors would be eligible to count toward a Bachelor of Business Degree program.

GradTrac is available to Finance and Marketing majors.  See more information about GradTrac.

Honors Curriculum -Academically qualified students in this department are welcome to complete an honors curriculum in University Honors, Upper Division Honors, or Lower Division Honors. All Honors students must complete the one-hour honors colloquium (G H 299). Lower Division Honors includes General Honors coursework. Upper Division Honors includes honors work in the major. University Honors combines Upper and Lower Division Honors. For more information about honors curricula visit the Centennial Honors College website at www.wiu.edu/Honors

Degree Programs

Bachelor of Business - Finance

All students seeking the Bachelor of Business in Finance must complete I, II, III, IV, and V. The minimum semester hour requirement for the baccalaureate degree is 120 s.h.

  1. University General Education Curriculum:  43 s.h.
  2. Business Core Courses†:  33 s.h.
  3. Department Core Courses:  15 s.h.
    CS 302; FIN 321, 341, 351, 371
  4. Electives
    1. Departmental:  12 s.h.
      Any four 400 level finance courses except FIN 460 or 461
    2. Directed:  3 s.h.
      One of the following courses:
      ACCT 341, 351, 371
      AGEC 336, 447
      ECON 332, 425, 432
      MKTG 335
      Any 400 level finance course (including 460, 461)
    3. Open:  11-14 s.h.
  5. Other:  15 s.h.*
    Natural Sciences/Mathematics: MATH 137 and either STAT 171 or DS 203
    Social Sciences: ECON 231 and 232 and either PSY 100 or SOC 100

†IS 320 (Business Core) fulfills the Writing Instruction in the Discipline (WID) graduation requirement.
*12-15 s.h. may count toward the University General Education requirement.

Bachelor of Business - Marketing

All students seeking the Bachelor of Business in Marketing must complete I, II, III, IV, and V. The minimum semester hour requirement for the baccalaureate degree is 120 s.h.

  1. University General Education Curriculum:  43 s.h.
  2. Business Core Courses†:  33 s.h.
  3. Department Core Courses:  15 s.h.
    CS 302; MKTG 329, 333, 335, 497
  4. Electives
    1. Directed:  15 s.h.
      Any three 300-400 level MKTG courses, excluding MKTG 460-461 (9). No more than 3 s.h. of MKTG 400 may be applied towards this total.
      Two of the following courses (6):
      FIN 351
      GCOM 217
      OM 352
      SCM 211, 453
      Or any 300-400 level MKTG course.
    2. Open:  11-14 s.h.
  5. Other:  15 s.h.*
    Natural Sciences/Mathematics: MATH 137 and either STAT 171 or DS 203
    Social Sciences: ECON 231 and 232 and either PSY 100 or SOC 100

†IS 320 (Business Core) fulfills the Writing Instruction in the Discipline (WID) graduation requirement.
*12-15 s.h. may count toward the University General Education requirement.

Bachelor of Business - Supply Chain Management

All students seeking the Bachelor of Business in Supply Chain Management must complete I, II, III, IV, and V. The minimum semester hour requirement for the baccalaureate degree is 120 s.h.

  1. University General Education Curriculum:  43 s.h.
  2. Business Core Courses†:  33 s.h.
  3. Department Core Courses:  24 s.h.
    CS 302; OM 352; SCM 211, 340, 400 (or approved substitute), 411, 451, 453
  4. Electives
    1. Directed:  9 s.h.
      One of the following courses (3):
      SCM 330, 460, 461, 480
      Two of the following courses (6):
      AGEC 333, 349
      MKTG 317, 497
      MET 241, 346
    2. Open:  8-11 s.h.
  5. Other:  15 s.h.*
    Natural Sciences/Mathematics: MATH 137 and either STAT 171 or DS 203
    Social Sciences: ECON 231 and 232 and either PSY 100 or SOC 100

†IS 320 (Business Core) fulfills the Writing Instruction in the Discipline (WID) graduation requirement.
*12-15 s.h. may count toward the University General Education requirement.

Minors

Minor in Finance:  16 s.h.

  1. FIN 311 or FIN 331:  3 s.h.
  2. Finance Electives:  9 s.h. 
  3. Business Electives:  4 s.h. 

Minor in Marketing:  18 s.h.

  1. ACCT 201 and ACCT 202, or ACCT 200 and ECON 231, or ACCT 201 and ECON 231:  6 s.h.
  2. MKTG 327:  3 s.h.
  3. Marketing Electives:  9 s.h. 

Minor in Supply Chain Management. 16 s.h.

  1. Supply Chain Management Electives:  12 s.h. 
  2. Business Electives:  4 s.h. 

Minor in International Business

Option I:  For Business Majors:  16 s.h.

  1. Foreign Language (3-4 s.h.); MKTG 317:  6-7 s.h. 
  2. 9 or 10 s.h. from ECON 420 or 470, FIN 497*, HRM 444, INAG 310, MGT 485, MKTG 417, SCM 411; one course may be taken from Foreign Languages (any second course in the same language as core course), BAT 300, FCS 300, POLS 331, or History (any non-U.S. history course at the 300 or 400 level):  9-10 s.h. 

Option II:  For Non-Business Majors:  24 s.h.

  1. Foreign Language (3 or 4 s.h.); MKTG 317; 6 s.h. from ACCT 200, ECON 231, FIN 311, IS 125, MGT 349, MKTG 327, SCM 211:  12-13 s.h. 
  2. 11-12 s.h. from same courses listed in Option I.2:  11-12 s.h. 

*International topic only.

Course Descriptions

BUSINESS AND TECHNOLOGY (BAT)

300  Global Study. (1–9, repeatable to 9) (General Education/Multicultural Studies)  Integrates the study of international business or technology with international travel. Focuses on preparing students for the global environment of the 21st century. Only 3 s.h. can be applied toward the International Business minor. Prerequisite: permission of instructor.

FINANCE (FIN)

301  Personal Financial Planning. (3)  An introductory personal money management course. Topics studied will include managing cash income, home ownership, investments, insurance, income and estate tax planning, and retirement planning.

311  Introduction to Finance. (3) Introductory course in the study of money and its management for non-finance majors. The course is divided into three sections that encompass the major areas of finance: financial institutions and markets, investments, and business finance. Not available to students who are currently enrolled in or have completed FIN 331. Prerequisites: ACCT 200 or 201 and ECON 231 or 232.

321  Principles of Real Estate. (3)  The study of real estate with an emphasis on a broad coverage of all areas including but not limited to markets, legal concepts, financing, brokerage, appraising, and governmental influence.

331  Financial Management I. (3)  Financial organization and the principles and practices of decision-making involving financial analysis, valuation, capital allocation, and budgeting. Cases and readings are utilized to study problems and techniques of financial analysis. Prerequisites: ACCT 201 and ECON 231, 232.

341  Financial Institutions. (3)  A study of the major financial institutions including commercial banks, savings institutions, credit unions, mutual funds, insurance companies, securities firms, finance companies, and pension funds. Prerequisites: ACCT 201 and ECON 231, 232.

351  Risk Management and Insurance. (3)  Topics examined include: the risk management concept of insurance, the insurance mechanism as a risk treatment device, and the implementation of risk management decisions using insurance and noninsurance tools in personal lines. Prerequisite: FIN 311 or 331, or permission of instructor.

371  Investments. (3)  Examines the securities markets, security regulation, classes of securities, and sources of information. Other topics studied include the theory of risk and return, variable and fixed income security valuation, and an introduction to fundamental and technical analysis. Prerequisites: ACCT 201 and ECON 231.

400  Finance Internship. (1–12, repeatable to 12)  Integrates finance theories with application to actual business practice. All internships are supervised by a faculty coordinator and an executive in the business firm. For maximum credit, position must be full-time for 16 weeks. Proportional credit available for shorter internships or with less working hours. These credits cannot be applied toward meeting the requirements for a finance minor. Prerequisites: finance major or minor, minimum junior standing, 2.75 GPA, 9 s.h. of finance coursework, and written approval of the department chairperson. Graded S/U only.

421  Real Estate Finance and Investment. (3)  The study of instruments, techniques, and institutions of real estate finance. This course analyzes mortgage and property investment risk, the secondary mortgage market, and the financial arrangements used in the financing of residential, industrial, and commercial properties, including commercial leasing. Prerequisite: FIN 321 or permission of instructor.

431  Financial Management II. (3)  Theories and practices applicable to the financial administration of the firm involving cost of capital, financial structure, dividend policy, long- and short-term financing, reorganization, and international aspects. Cases and readings are utilized to study problems and techniques of financial analysis. Prerequisite: FIN 311 or 331.

441  Bank Management. (3)  A study of the functions, operations policies, organization, management, and supervision of individual banks. Cases and computer simulation are used. Prerequisite: FIN 341.

451  Personal Insurance and Estate Planning. (3)  This course examines such issues as the role of life insurance in personal risk management; the investment value of life insurance products; and Social Security, insurance, trust, and annuities in programming and estate planning. Prerequisite: FIN 351 or permission of instructor.

452  Commercial Property and Liability Insurance. (3)  The study of risk management techniques and concepts as they relate to commercial lines. Insurance and noninsurance techniques (such as fidelity and surety bonding) as they are used to deal with business risks are examined. Prerequisite: FIN 351 or permission of instructor.

460, 461  Independent Study in Finance I, II. (1–3 each, not repeatable)  Prerequisite: finance major or minor, 2.75 GPA or higher, 12 s.h. of finance coursework, and written permission of instructor and chairperson.

471  Security Analysis. (3)  Techniques of security analysis. A study of portfolio theory including asset pricing, the efficient frontier, capital asset pricing theory, single index models, and the practical application of these techniques in investment policies and practices. Other topical areas include fixed income portfolio management and portfolio performance evaluation. Prerequisite: FIN 371.

Seminars in Finance. (3)  Each offering in this series is designed to provide students with an opportunity for intensive study in current theory and unresolved problems in the selected area. Open to finance majors or minors in their senior year.

493  Seminar in Banking. (3)  Prerequisites: FIN 341.

495  Seminar in Real Estate. (3)  Prerequisite: FIN 321 or permission of the instructor.

496  Seminar in Investments. (3)  Prerequisite: FIN 371.

497  Seminar in Financial Management. (3)  Prerequisite: FIN 311 or 331. Also open to international business minors if international topic.

MARKETING (MKTG)

317  International Business. (3)  Introductory review of international trade emphasizing the role of marketing and distribution in directing the flow of products to and from the United States. The course also focuses on the impact of competition, politics, regulation, culture, finance, and technology.

327  Marketing Principles. (3)  A general examination of the basic elements of the marketing functions. Such elements include the development, pricing, promotion, and distribution of goods and services studied in the framework of strategic and tactical decision-making by marketing managers as applied to business and non-business organizations. Prerequisites: ACCT 201 and 202; or ACCT 200 and ECON 231; or ACCT 201 and ECON 231.

329  Marketing Research. (3)  This course concentrates on the fundamental techniques involved in determining problems, gathering and processing secondary and primary sources of information to solve marketing problems. Students will apply the research process to particular problem areas or cases through computer applications and statistical analysis. Prerequisites: MKTG 327 and STAT 171 or equivalent.

331  Promotional Concepts. (3)  Emphasis is on promotion as the communication function of marketing. Attention is given to marketing communications theory, concepts, and research with in-depth treatment of all elements of the promotion mix (i.e., advertising, sales promotion, personal selling, public relations, and point-of-purchase communications). Prerequisite: MKTG 327.

333  Consumer Behavior. (3)  The application of behavior science concepts and methods to the solution of marketing problems and the development of marketing strategies. Psychological and socio-cultural factors are examined in relation to the consumer decision-making process. Prerequisite: MKTG 327.

335  Professional Selling. (3)  Learning to develop and apply essential professional selling skills through the use of interpersonal communication to effectively market yourself and the organization you represent. Basic concepts, processes, and techniques for selling, including customer analysis, prospecting, developing rapport, handling objections, customer service, and other related areas. Prerequisite: MKTG 327.

343  Retailing Management. (3)  Retailing is studied from a decision-making approach. Topics covered include retailing strategy, consumer shopping behavior, human resource planning, the retail mix, communications, merchandising, and location. Prerequisite: MKTG 327.

371 Internet Marketing. (3)  An examination of how businesses are using the Internet as a viable marketing tool. Understand the impact of the World Wide Web on the marketing mix and examine the unique competencies of this technology. Prerequisite: MKTG 327.

400  Marketing Internship. (1–12, repeatable to 12)  Integrates marketing theories with application to actual business practice. All internships are supervised by a faculty coordinator and an executive in the business firm. In order to receive maximum credit, the student must be in a full-time position for a minimum of 16 weeks. Proportional credit will be granted for internships of shorter duration or with less working hours. These hours cannot be applied toward meeting the requirements for a marketing  minor. Prerequisites: marketing major or minor, minimum junior standing, 2.75 GPA, 9 s.h. of marketing coursework, and written approval of department chairperson. Graded S/U only.

417  International Marketing. (3)  Emphasis is on marketing planning and strategies in the global environment. An examination of the cultural, political, economic, and other important factors affecting the international marketer and international marketing operations. Prerequisite: MKTG 327.

431  Direct Marketing Management. (3)  An examination of the concepts, strategies, and applications involved in direct marketing, including direct mail, direct response advertising, telemarketing, catalogs, broadcast, and co-ops. Measurability, accountability, lists, database management, and the integration of direct marketing programs into the marketing mix are stressed. Prerequisite: MKTG 327.

432  Advertising and Promotional Campaigns. (3)  Planning and development of advertising campaigns by students. A skills and techniques course which focuses on the application of advertising, sales promotion, and public relation concepts to the development of a promotional campaign. Prerequisites: MKTG 331, 333, or permission of the instructor.

435  Sales Management. (3)  Enhancement of creative sales and managerial skills. Responsibilities and functions of the sales manager including recruiting, training, compensating, motivating, sales forecasting, and control. The development of advanced selling skills including relationship selling, proposal writing, and negotiation planning. Prerequisite: MKTG 335.

460, 461  Independent Study in Marketing. (1–3 each, not repeatable)  The student works with a marketing professor to pursue an investigation of special marketing interest. Prerequisites: marketing major or minor, 2.75 GPA or higher, 12 s.h. of marketing coursework, written permission of the

professor and department chairperson.

479  Marketing Practicum in Survey Research. (3)  Student will work one-on-one with a faculty member on a research project in survey research. This is the capstone course for the Survey Research Methods minor, bringing together the theory and practice of survey research methods. Prerequisites: Successful completion of MKTG 329, POLS/SOC 432, and at least 12 s.h  in the Survey Research minor.

497  Marketing Management. (3)  The integration and implementation of marketing strategy by the marketing management manager is the focus of this capstone course. Through participative analysis and discussion, each student is exposed to the dynamic marketing environment. Prerequisites: MKTG 327, an additional 6 s.h. of marketing coursework, and senior standing.

SUPPLY CHAIN MANAGEMENT (SCM)

211  Supply Chain Management. (3)  A basic course in supply chain management. The student will study the various functions involved in supply chain management. These functions include storage, warehousing, transportation, material handling, inventory control, purchasing, plant location, and information flows.

330  Warehouse Management. (3)  An examination of the body of handling and warehousing knowledge common to all materials management. Should provide the student with skills necessary to cope with problems in the areas of purchasing, inventory control, traffic management, and production.

340  Transportation Management. (3)  Deals with the day-to-day buying and selling of transportation services. Reviews the basic job of a traffic manager, the decision variables considered by a traffic manager, the organization position of traffic management, and freight classifications and tariff interpretations.

370  Inventory Strategy. (3)  A review of current and emerging strategies for managing and controlling inventory levels. Emphasis is on the development of quantitative techniques for successfully managing inventory costs and supply. Prerequisites: SCM 211 and STAT 171 or equivalent.

400  Supply Chain Management Internship. (1–12, repeatable to 12)  Integrates transportation and supply chain management theories with application to actual business practice. All internships are supervised by a faculty coordinator and an executive in the business firm. For maximum credit, position must be full-time for 16 weeks. Proportional credit available for shorter internships. These hours cannot be applied toward meeting the requirements for a supply chain management  minor. Prerequisites: SCM major or minor, completion of SCM 211 with a grade of “C” or higher, 2.0 GPA, and written approval of the department chairperson. Graded S/U only.

411  Global Supply Chain Management. (3)  Advanced study of global supply chain management and the managerial functions involved in the movement of goods into and out of businesses. Prerequisite: SCM 211 or permission of the instructor.

451  Cost Negotiations and Target Pricing. (3)  For the student with a major or minor in supply chain management. Examines the special problems of cost negotiating and pricing the supply chain management services. In particular the student will refer to the economic theory of transportation and other supply chain management activities and see how the actual practice of negotiating and pricing is accomplished. Prerequisite: SCM 211 or consent of instructor.

453  Supply Management. (3)  A study of the principles of materials management with specific attention to the procurement and control of purchased goods and services.

460, 461  Independent Study in Supply Chain Management I, II. (1–3 each, not repeatable)  An independent research or study course on supply chain management problems for selected students. Prerequisite: SCM option or minor, 2.75 GPA or higher, 12 s.h. of SCM or MKTG coursework, and written permission of instructor and chairperson.

480  Seminar in Supply Chain Management. (3)  An examination of various current problems and concepts in supply chain management to be selected by the instructor. Possible topics include, but not limited to, supply chain management activities, regulation versus deregulation, transport nationalization and the role of departments of transportation, and the Container Revolution.