Undergraduate Business Minor

The undergraduate business minor is an integrated set of seven courses designed to provide Rice undergraduates with a foundation in essential business disciplines that are crucial in every field. 

Choose six courses from the list below:
 

BUSI 396 Business Communication (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. Prerequisites: BUSI 305 and BUSI 310. 

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, intercorporate investments, consolidations and cash flow accounting. No prerequisites. 

BUSI 310 Leading People in Organizations (3) 

Introduces the psychological and sociological processes underlying human behavior in organizational settings (e.g., companies, schools, sports clubs). Topics include motivation, decision-making, principles of fairness and justice, cross-cultural differences, working in teams and tactics of influence. No prerequisites. 

BUSI 343 Financial Management (3) 

Develops the core 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 to examine how capital market investors value risky assets. Develops a framework for evaluating corporate investment and financing decisions. Prerequisites: (BUSI 395 OR STAT 180 OR STAT 280 OR SOSC 302 OR STAT 305 OR STAT 310 OR STAT 312 OR STAT 315 OR DSCI 301 OR ECON 307 OR POLI 395 OR PSYC 339) AND (BUSI 150 OR ECON 100 OR ECON 200) AND BUSI 305. Mutually Exclusive: Cannot register for BUSI 343 if student has credit for ECON 343. 

BUSI 374 Operations Management (3) 

An introduction to the design and integration of successful operations procedures both within the organization and across the supply chain. The course focuses on understanding, managing and improving processes and flows of products, customers, and information. Covering measurable techniques to deal with bottlenecks, inventory, queues, quality management and some strategic issues in operations. Prerequisite(s): BUSI 395 OR STAT 180 OR STAT 280 OR SOSC 302 OR STAT 305 OR STAT 310 OR STAT 312 OR STAT 315 OR DSCI 301 OR ECON 307 OR POLI 395 OR PSYC 339. Recommended Prerequisite(s): BUSI 305 and (ECON 100 or ECON 200 or BUSI 150). 

BUSI 380 Marketing (3) 

Introduces the role of marketing in organizations and the principal marketing decisions facing management. Topics include marketing planning and strategy; segmentation and targeting; understanding customer buying behavior; behavioral economics; development and management of products and services; branding; channels of distribution; sales; digital marketing, advertising and promotional methods; pricing strategy; and the development of integrated marketing strategies. Prerequisites: STAT 280 (See Frequently Asked Questions). 

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. Prerequisites: BUSI 305. Recommended Prerequisites: ECON 100 OR BUSI 150 OR ECON 200. Mutually Exclusive: Cannot register for BUSI 390 if student has credit for BUSI 471.

Below are some advanced accounting courses offered to Rice undergraduate students.

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 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

The business major builds on the minor. The two programs share six required courses, but the major has a higher level mathematics and statistics requirement, additional required courses in management accounting and operations management, and students in the major can earn a concentration in finance or management. Learn more here.

The business minor complements and adds diversity to the outstanding courses available to Rice undergraduates. Students who are following their passions in the sciences, engineering, or the humanities can also acquire a basic understanding of the fundamentals of business. Moreover, through the business minor they can develop their critical thinking and communications skills, both of which will provide value whatever their future education or career goals may be.

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. Two courses, Financial Accounting (BUSI 305), and Leading People in Organization (BUSI 310) have no prerequisites. Other courses require prior coursework at Rice in statistics and microeconomics. Please see the detailed course descriptions for specifics on these prerequisites.

No more than two courses (six credit hours) of transfer credit from U.S. or international universities of similar standing as Rice may apply towards the minor.

Enrollment in BUSI 343 and BUSI 390 requires completion of BUSI 305 FINANCIAL ACCOUNTING as a prerequisite. The program director will not approve requests to waive prerequisites for BUSI 343 or BUSI 390. For further details on course prerequisites, please see course descriptions.

Yes. Microeconomics and statistics are required because these courses provide the foundation for many of the concepts developed in the business courses. The statistics requirements can be fulfilled by completing STAT 280 or an approved alternative (see below). The economics requirement can be fulfilled by completing ECON 100 or BUSI 150 at Rice.

The following courses are approved: BUSI 395 or STAT 180 or STAT 305 or STAT 310 or STAT 312 or STAT 315 or SOSC 302 or DSCI 301 or ECON 307 or POLI 395 or PSYC 339, plus any courses cross-listed with these courses.