RM_BS - ERM Option Degree Requirements - 2022-23

Smeal College - Risk Management Department

B.S. Risk Management (RM_BS) Enterprise Risk Management (ERM) Option – Academic Year 2022-23

RM_BS, ERM Option - Suggested Academic Plan 2022-23

A. GENERAL EDUCATION

a. Writing and Speaking (GWS) – Complete 3 credits in each area with grades of C or better (9 credits)

i. Composition – ENGL 015 (3), ENGL 030 (3), ESL 015 (3), ENGL 137H (3), or CAS 137H (3)

ii. Speech – CAS 100 (3), CAS 100A (3), CAS 100B (3), CAS 100C (3), CAS 138T (3), or ENGL 138T (3)

iii. Effective Writing – ENGL 202D (3)

b. Quantification (GQ) – Complete the following two categories with grades of C or better

i. Calculus – MATH 110 (4), MATH 140 (4), or MATH 140B (6)

ii. Statistics – SCM 200 (4) or STAT 200 (4)

c. Global, Cultural, and Integrative Studies – Courses may satisfy General Education, Major, or Elective requirements

i. Complete 6 Inter-Domain (N) and/or Linked (Z) credits

ii. Complete 3 United States Culture (US) credits

iii. Complete 3 International Culture (IL) credits

d. Natural Sciences (GN) – Complete 9 GN credits with at least 3 credits that are not Inter-Domain

e. Arts (GA) – Complete 6 GA credits with at least 3 credits that are not Inter-Domain

f. Humanities (GH) – Complete 6 GH credits with at least 3 credits that are not Inter-Domain

g. Social and Behavioral Sciences (GS) - Complete the following two categories (6 credits)

i. ECON 102 – Introductory Microeconomic Analysis and Policy (3)

ii. Complete 3 GS credits (3)

h. Health and Wellness (GHW) - Complete 3 GHW credits that are not Inter-Domain

B. COLLEGE REQUIREMENTS

a. World Language – Demonstrate proficiency at the 12th credit level (4 credits)

b. ECON 104 – Introductory Macroeconomic Analysis and Policy (3 credits)

c. Foundation Business Courses – Complete the following at Penn State with grades of C or better (13 credits)

ACCTG 211 – Financial and Managerial Accounting for Decision Making (4) [Prerequisite: MATH 21 or higher or satisfactory score on the mathematics placement examination]

MGMT 301 – Basic Management Concepts (3) [Prerequisite: (ENGL/ESL 15 or ENGL 30 or ENGL/CAS 137H) and (ECON 102 or 104) and MATH 21 or higher or satisfactory score on the mathematics placement examination]

MKTG 301 – Principles of Marketing (3) [Prerequisite: (ENGL/ESL 15 or ENGL 30 or ENGL/CAS 137H) and (ECON 102 or 104) and MATH 21 or higher or satisfactory score on the mathematics placement examination]

FIN 301 – Corporation Finance (3) [Prerequisite: (ENGL/ESL 15 or ENGL 30 or ENGL/CAS 137H) and ACCTG 211 and (ECON 102 or 104) and (SCM 200 or STAT 200)]

d. Core Business Courses - Complete the following prescribed courses (15 credits)

SCM 301 – Supply Chain Management (3) [Prerequisite: ACCTG 211 and ECON 102 and (SCM 200 or STAT 200)]

MIS 250 – Introduction to Problem Solving with Spreadsheet Analysis and Information Systems Management (3)

BA 342 – Socially Responsible, Sustainable and Ethical Business Practice (3) [Prerequisite: MGMT 301/301W; Concurrent: FIN 301 and MKTG 301 and SCM 301]

BLAW 341 – Business Law I: Introduction to Contracts, Liability Issues, and Intellectual Property (3) [Prerequisite: MGMT 301/301W; Concurrent: FIN 301 and MKTG 301 and SCM 301]

BA 411 – Analyzing Business and Industry (3) [Prerequisite: BLAW 341 and FIN 301]

PLEASE NOTE: Smeal College of Business Residency Policy - Pursuant to accreditation standards of the Association to Advance Collegiate Schools of Business (AACSB), the Smeal College of Business requires that all upper-division courses within the sponsoring department must be completed in residence at University Park under the instruction of Smeal College faculty. Students in the Risk Management (RM_BS) with the Enterprise Risk Management (ERM) Option major complete the following prescribed and additional courses in residence with Smeal College faculty.

C. PRESCRIBED RISK MANAGEMENT COURSES – Complete the following prescribed courses (9 credits)

A grade of C or better is required in all courses.

RM 301 – Risk and Decisions (3) [Prerequisite: FIN 301 and (MATH 110 or MATH 140) and (SCM 200 or STAT 200)] (spring semester)

RM 320W – Risk Management and Insurance (3) [Prerequisite: FIN 301 and (MATH 110 or MATH 140) and (STAT 200 or SCM 200)] (fall semester)

RM 405 – Corporate Risk Management (3) [Prerequisite: RM 320W] (spring semester)

D. ADDITIONAL RM_BS, ENTERPRISE RISK MANAGEMENT OPTION COURSES – Complete three courses from the following (9 credits)

A grade of C or better is required in all courses.

BLAW 441 – Business Law II: Agency, Employment & Business Structure (3) [Prerequisite: BLAW 341; FIN 301]

FIN 406 – Security Analysis and Portfolio Management (3) [Prerequisite: FIN 301]

RM 440 – Risk, Strategy, and Decision Making (3) [Prerequisite: RM 320W] (fall semester)

RM 475 – Quantitative Analysis for Business (3) [Prerequisite: SCM 200 or STAT 200] (spring semester)

E. SUPPORTING COURSES: Smeal Two-Piece Sequence – Complete one Two-Piece Sequence from the list below (6 credits)

F. ELECTIVES – Complete 14 credits

SUPPORTING COURSES LIST (Smeal College Two-Piece Sequence) – Complete one two-piece sequence (6 credits)

Accounting – Complete two courses from the following

ACCTG 404 – Managerial Accounting: Economic Perspective (3) [Prerequisite: ACCTG 211 and (SCM 200 or STAT 200) and ECON 102]

ACCTG 471 – Intermediate Financial Accounting I (3) [Prerequisite: ACCTG 211]

ACCTG 472 – Intermediate Financial Accounting II (3) [Prerequisite: ACCTG 471]

Actuarial Science – Complete the following two courses

RM 410 – Financial Mathematics for Actuaries (3) [Prerequisites: C or better in STAT/MATH 414 and (MATH 230 or MATH 231)]

RM 411 – Actuarial Mathematics I (3) [Prerequisite: C or better in RM 410]

Business Law – Complete two courses from the following

BLAW (RM) 424 – Real Estate Law (3) [Prerequisite: BLAW 341]

BLAW (RM) 425 – Business and Environmental Regulation (3) [Prerequisite: BLAW 341]

BLAW 441 – Agency, Employment and Business Structure (3) [Prerequisites: BLAW 341 and FIN 301]

BLAW 444 – Advanced UCC and Commercial Transactions (3) [Prerequisites: BLAW 341, ACCTG 211, and FIN 301]

BLAW 445 – Advanced Intellectual Property and Competition Law (3) [Prerequisite: BLAW 441]

BLAW 446 – Employment Law (3) [Prerequisite: BLAW 441]

BLAW 447 – Entertainment Law (3) [Prerequisite: BLAW 341]

Business Sustainability – Complete two courses from the following

BA 441 – Strategies for Enterprise Sustainability (3) [Prerequisite: BA 342]

BA (MKTG) 442 – Sustainable Behavior of Consumers, Firms and Societies (3) [Prerequisite: BA 342]

SCM 448 – Building Sustainable Supply Chains (3) [Prerequisite: SCM 301]

Corporate Benefits – Complete the following two courses

RM 401 – Fundamentals of Private Pensions (3) [Prerequisite: RM 302 or RM 320W]

RM 430 – Life and Health Insurance (3) [Prerequisite: RM 302 or RM 320W]

Corporate Diversity – Complete the following two courses

MGMT 320 – Establishing Workforce Diversity and Inclusion (3)

MGMT 445 – Managing a Diverse Workforce (US) (3) [Prerequisite: MGMT 301]

Corporate Innovation and Entrepreneurship – Complete the following two courses

MGMT 425 – New Venture Creation (3) [Prerequisite: (ECON 102 or ECON 104) and (CAS 100 or CAS 137T)]

MGMT 453 – Creativity and Innovation (3) [Prerequisite: MGMT 301]

Economics – Complete courses based on the following

a. Complete 3 credits of 300/400 level Economics

b. Complete 3 credits of 400 level Economics

Finance – Complete two courses from the following

FIN 305 – Financial Management of the Business Enterprise (3) [Prerequisite: FIN 301]

FIN 406 – Security Analysis and Portfolio Management (3) [Prerequisite: FIN 301]

FIN 408 – Financial Markets and Institutions (3) [Prerequisite: FIN 301]

Information Systems Management – Complete the following two courses

MIS 301 – Business Analytics (3) [Prerequisite: SCM 200 or STAT 200; Concurrent: (MATH 110 or MATH 140) and (MIS 204 or MIS 250)]

MIS 446 – Information Technology and Business Strategy (3) [Prerequisite: MIS 301 or MIS 390]

International Business – Complete two courses from the following

IB 303 – International Business Operations (IL) (3) [Prerequisite: 5th semester standing or higher]

IB 403 – International Business and National Policies (3) [Prerequisites: ACCTG 211 and FIN 301]

IB 404 – Contemporary Issues in International Business (3) [Prerequisites: ACCTG 211 and FIN 301]

IB 450 – Business Environment of Europe (3) [Prerequisite: ACCTG 211; FIN 301]

IB 460 – International Business in Emerging Nations (3) [Prerequisites: ACCTG 211and FIN 301; Concurrent: IB 303]

IB 470 – International Development in an African Context (3) [Prerequisite: 5th semester standing or higher]

Management – Complete courses based on the following

MGMT 326 – Organizational Behavior and Design (3) [Prerequisite: MGMT 301]

MGMT 481 – Global Strategic Management (3) [Prerequisite: MGMT 326]

Marketing – Complete courses based on the following

a. Complete one of the following courses

MKTG 330 – Consumer Behavior (3) [Prerequisite: MKTG 301]

MKTG 327 – Retailing (3) [Prerequisite: MKTG 301]

b. Complete one of the following courses

MKTG 445 – Global Marketing (IL) (3) [Prerequisite: MKTG 301]

MKTG 422 – Advertising and Sales Promotion Management (3) [Prerequisite: MKTG 330 or MKTG 342]

Mathematics – Complete the following two courses

MATH 141 – Calculus with Analytical Geometry II (4) [Prerequisite: MATH 140]

STAT (MATH) 414 - Introduction to Probability Theory (3) [Prerequisite: MATH 230 or Concurrent: MATH 232 or (MATH 231 and RM 214)]

Real Estate – Complete the following two courses

RM 303 – Real Estate Fundamentals (3) [Prerequisite: 4th semester standing or higher]

RM 450 – Contemporary Issues in Real Estate Markets (3) [Prerequisite: RM 303 or RM 330W]

Statistics – Complete two courses from the following

STAT 461 - Analysis of Variance (3) [Prerequisite: STAT 200 or SCM 200]

STAT 462 - Applied Regression Analysis (3) [Prerequisite: STAT 200 or SCM 200]

STAT 463 - Applied Time Series Analysis (3) [Prerequisite: STAT 462 and (STAT/MATH 318 or STAT/MATH 414)]

Supply Chain and Information Systems – Complete two courses from the following

SCM 404 – Demand Fulfillment (3) [Prerequisite: SCM 301]

SCM 405 – Manufacturing and Services Strategies (3) [Prerequisite: SCM 301]

SCM 406 – Strategic Procurement (3) [Prerequisite: SCM 301]

In lieu of completing a two-piece sequence, students in Risk Management (RM_BS) with the Real Estate (REST) Option can complete one of the designated University minors listed below provided the program has a minimum of six credits of 400-level coursework to use in the two-piece category.

Smeal College Minors

Information Systems Management - ISM_UMNR

International Business - IB_UMNR

Legal Environment of Business - LEBUS_UMNR

Supply Chain and Information Sciences & Technology - SCIST_UMNR

Penn State Minors

Economics - ECON_UMNR

Entrepreneurship and Innovation- ENTI_UMNR

Information Sciences and Technology - IST_UMNR

Mathematics - MATH_UMNR

Statistics - STAT_UMNR

World Language Minors

Arabic Language - ARAB_UMNR

Chinese Language - CHNS_UMNR

French and Francophone Studies - FR_UMNR

German - GER_UMNR

Greek - GREEK_UMNR

Hebrew - HEBR_UMNR

Italian - IT_UMNR

Japanese Language - JAPNS_UMNR

Korean Language - KORLG_UMNR

Latin - LATIN_UMNR

Portuguese - PORT_UMNR

Russian - RUS_UMNR

Russian Translation - RUST_UMNR

Spanish - SPAN_UMNR