Rice Undergraduate Business Minor Courses

BUSI 296 Business Communications (3)        
Provides an introduction to business, focusing on the strategy and practice of effective communications in business situations. The course includes individual communication skills assessment and development as well as team-based oral and written communication instruction. No prerequisites.
BUSI 305 Financial Accounting (3)         
Covers the preparation, analysis, and use of corporate financial statements; asset and liability valuation and income determination; receivables, inventories, present values, tangible and intangible fixed assets, bonds, leases, shareholder equity, inter-corporate investments, consolidations and cash flow accounting. No prerequisites. 
BUSI 310 Leading People in Organizations (3)    
Introduces the sociological and social psychological processes underlying individual and group behavior in organizations and how they can be effectively managed. Topics include leadership effectiveness, team processes, organizational change and innovation, job-related attitudes, work motivation, organizational culture and climate, and cross-cultural issues in management.  
Not Open to Entering Freshmen. 
BUSI 343 Financial Management (3)        
Develops the basic concepts of corporate financial management and introduces a set of analytical tools to evaluate financial decisions. Employs concepts of time value of money, risk and return, and market efficiency are to examine how capital market investors value risky assets. Develops a framework for evaluating corporate investment and financing decisions.  
Prerequisites: STAT 280*, BUSI 305 and ECON 100 OR ECON 201 OR ECON 301

BUSI 380 Marketing (3)                
Introduces the role of marketing in organizations and the principal marketing decisions facing management.  Topics include marketing planning and strategy; buyer behavior; development and management of products and services; branding; channels of distribution; sales, advertising and promotional methods; pricing strategy; and the development of integrated marketing strategies and programs. Prerequisites: STAT 280* and ECON 100 OR ECON 201 OR ECON 301
BUSI 390 Strategic Management (3)         
Examines the strategic management of businesses in market and non-market environments. Key topics include competitive and industry analysis, strategy formulation and implementation, and strategic planning.  Case discussions of real companies are combined with readings concerning the key topics. Prerequisite(s): ECON 100 OR ECON 201 OR ECON 301. Students must also have completed at least three (3) of the courses required for the Business Minor to enroll.   

The courses in the program are open to any degree-seeking Rice undergraduate who meets enrollment requirements, not just to students who have declared an intention to complete the minor. 

* Approved alternatives to STAT 280 are: STAT 305, STAT 310, STAT 331, STAT 339, ELEC 303, POLI 395, PSYC 339, SOCI 298, plus any courses cross-listed with these STAT courses (e.g. ECON 307, ECON 382, ELEC 331.)

Advanced Business Courses

BUSI 221 New Enterprises
In this course, students will learn and experience a process for innovation-based venture development. During the semester, students will form teams and create a plan for a new venture. Credit may not be received for both BUSI 462 and BUSI 221.

BUSI 223 Modeling for Entrepreneurs
The course teaches how to translate a startup business plan into a bottoms up quantitative model of the business and its underlying assumptions. Students will learn how to build a model of cash flows for a startup, how to use that model to track performance and identify errors in the underlying assumptions and adjust, and how to update the model based on realized performance.

BUSI 440 - Auditing
The principles and procedures used by public accountants and internal auditors in examining financial statements and supporting data to verify the accuracy and fairness of the information presented. Specific topics covered include: financial statement, regulatory and contract compliance, internal and operational audits, professional standards and ethical conduct; statistical and judgmental sampling; the audit-impact of information technology; audit risk and internal control structure evaluation; application of procedures in transaction cycles; audit reporting; the importance of professional skepticism; role of the PCAOB in setting and enforcing auditing standards for U.S. publicly traded companies, as well as the issue of mandatory audit firm rotation; role of the International Auditing and Assurance Standards Board in setting International Standards of Auditing.
Prerequisite: BUSI 305

BUSI 405 - Issues in Financial Reporting I
Building on subject matter introduced in BUSI 305, this course provides students with a deeper knowledge of generally accepted accounting principles and procedures so that they properly account for and present information in financial statements prepared for external users. The student will acquire an understanding of the accounting issues relating to complex revenue recognition issues, inventory costing, long-lived tangible and intangible assets, and discontinued operations. The student should be able to evaluate alternative accounting methods and choose the methods which will best convey the financial information related to the above areas. The student should be able to demonstrate an understanding of the transaction analysis, recording, classification, summarization, and reporting procedures in the accounting cycle, and an understanding of the information contained in the financial statements. Finally, students should be able to demonstrate written communication skills required of accountants. BUSI 305 Financial Accounting is a pre-requisite for this course.
Prerequisite: BUSI 305

BUSI 462 Foundations of Entrepreneurship: Toolkit
This course equips students with frameworks and tools for establishing, growing, and modeling their business.

BUSI 463 Foundations of Entrepreneurship: Strategy and Financing
This course covers entrepreneurial strategy (1st half) and options for financing of startups (2nd half). Strategy: The course provides an integrated strategy framework for entrepreneurs. The course is structured to provide a deep understanding of the core strategic challenges facing start-up innovators, and a synthetic framework for choosing and implementing entrepreneurial strategy in dynamic environments.

A central theme of the course is that, to achieve competitive advantage, technology entrepreneurs must balance the process of experimentation and learning inherent to entrepreneurship with the selection and implementation of a strategy that establishes competitive advantage. The course identifies the types of choices that entrepreneurs must make to take advantage of a novel opportunity and the logic of particular strategic commitments and positions that allow entrepreneurs to establish competitive advantage.

Financing: The course provides an overview of financing options for startups. The course covers crowdfunding, angel investors, accelerators, and the venture capital industry; the organization and operation of venture capital funds; investment methodology; monitoring and portfolio liquidation.

BUSI 464 Social Entrepreneurship
This course introduces students to contemporary concepts, debates, and contexts necessary for analyzing and engaging in the sphere of social entrepreneurship. The course has five distinct parts: 1. Social entrepreneurship overview; 2. Social context and stakeholders; 3. Private sector roles and motivations; 4. Organizational forms and collaborations; and 5. Measurement and impacts (private and public). Students will be exposed to various forms of social entrepreneurship, such as base of the pyramid/microenterprises, private-public partnerships, private-governmental partnerships, voluntary social codes, corporate social responsibility, and ethical consumerism. From this introductory foundation, students will undertake a social entrepreneurship project about a contemporary social problem in Houston: the urban food desert (https://apps.ams.usda.gov/fooddeserts/fooddeserts.aspx). Students will learn a range of research methods (e.g. quantitative data analysis, ethnography, focus groups). With these research tools and building from perspectives offered by earlier by readings, guest speakers, and field visits, students will problematize, propose, develop, and present competing solutions to the social problem during the final course meetings.

Admissions Information