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Course Descriptions
NOTE: Prerequisites to all courses in the
School of Business and Management numbered 0100 and above require
matriculation and the completion of 57 s.h., in addition to any
individual course prerequisites or GPA requirement.
Course Descriptions for:
01507/Risk Management and Insurance
Risk Management and Insurance 0001 is a prerequisite for all other Risk Management courses.
0001. Introduction to Risk
Management (3 s.h.) FS
Prerequisite: Completion of either Economics C051 or C052 and
sophomore standing.
Introduction to the study of risk management and insurance.
Principal casualty risks to which organizations are exposed,
including those involved in employee benefits. Means of
identification, evaluation, and treatment of these risks are
analyzed, with the methods of treatment including insurance, risk
retention, self-insurance, and loss control.
0091. Introduction to Risk
Management-Honors (3 s.h.) F
Prerequisite: Completion of either Economics C051 or C052.
Open only to business designated honors students or with special
permission. May be used to fulfill the risk management and
insurance requirement of the School of Business and Management.
The honors section of Risk Management and Insurance 0001.
0110. Personal Risk and Money
Management (3 s.h.) S
Prerequisite: Risk Mangement and Insurance 0001. (Not counted
toward Risk Management and Insurance major requirements.)
Analysis of major personal risks and financial matters
confronting consumers at different stages of the life cycle.
Focus will be on identifying and finding alternative techniques
for managing them. Topics include budgeting; consumer credit;
personal loss control; auto, home, life, and health insurance
purchasing; stocks and bonds, and mutual funds; and income taxes.
0305. Life and Health Insurance
and Employee Benefits (3 s.h.) FS
Prerequisite: Risk Mangement and
Insurance 0001.
Analysis of the major areas in other-than-retirement employee
benefits. Considerations in benefit plan design, group insurance
and the group technique, life, health, and disability income
insurance and miscellaneous types of benefits offered. The
increasing use of flexible benefit plans, funding issues, tax
implications and health care cost containment are also examined.
0306. Retirement Plans (3 s.h.)
FS
Prerequisite: RMI 0001.
Contemporary fundamentals of pension plans. Major subject
areas covered include history and development, plan design,
actuarial aspects (costs and funding), investment of plan assets,
and plan termination insurance. Provides an understanding of the
types of individual account retirement plans available. Discussed
are profit-sharing plans, thrift and savings plan, cash or
deferred arrangements, employee stock ownership and stock bonus
plans, individual retirement accounts, simplified employee
pensions, tax- deferred annuities, and executive retirement
arrangements. Certain functional areas applicable to all types of
retirement plans such as taxation, plan installation, disclosure,
and fiduciary aspects are also discussed.
0309. Property and Liability
Insurance Coverages (3 s.h.) FS
Prerequisite: RMI 0001.
This course evaluates property, net income, and liability loss
exposures, analysis of insurance contracts, and specific
insurance coverages designed to handle the above exposures.
0310. Property and Liability
Insurance Operations (3 s.h.) FS
Prerequisite: RMI 0001.
Functional insurance areas of rate making, underwriting,
marketing, loss control, and claims are studied. Insurance
company financial structure and operations analysis is included.
W320. Advanced Topics in Health
and Welfare Employee Benefits (3 s.h.)
Prerequisite: RMI 0305.
This course covers advanced topics in health and welfare
benefits. Analysis of medical care cost inflation, managed care
systems, retiree medical coverage, long term care, Medicare and
Medicaid problems and issues, national health insurance
proposals, advanced funding arrangements, and flexible benefits
plans are among the topics covered.
0350. Actuarial Applications in
Risk Management and Insurance (3 s.h.) S
Prerequisite: RMI0001, Statistics 0022 and Finance 0103.
Applies theoretical models to insurance problems and is the
real-world counterpart to theories discussed in actuarial
science, risk management, and insurance courses. The course is
divided into two parts: (1) statistical applications and (2)
finance and economic applications. Discusses probability
distributions frequently used to model losses and inferences
which can be made from claims data (e.g., goodness of fit and
experience rating). The finance section includes application of
portfolio theory to the value of the firm (with and without
insurance) to reinsurance decisions and captive insurance
situations.
0360/W360. Corporate Risk
Management (3 s.h.)
Prerequisite: Major or concentration in risk management and
insurance; successful completion of RMI 0309 and 0310 with a
grade of B or better, or permission of department chairperson.
Study and analysis of the risk management process, analysis of
the primary function of the risk management decision and
administrative processes, including setting objectives,
identifying and evaluating loss exposures, considering and
selecting best alternative treatment(s), implementing the
program, and monitoring the results. Special topics include
retention, alternative market solutions, loss control philosophy,
cost of risk allocation, corporate insurance, and non-insurance
transfers.
0394. Special Topics (3 s.h.)
Special topics in current developments in the field of risk
management and insurance.
0395-0396. Independent Study
(1-6 s.h.) FS
Prerequisite: Consultation with a faculty member and approval
of department chairperson.
Readings and/or papers under supervision of a faculty member.
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01512/Statistics
C011. Basic Quantitative
Foundations for Business and Economics I (3 s.h.) (MA) FS
Fundamentals of finite mathematics necessary for a business
student to pursue statistics and other quantitatively oriented
business courses. All topics and illustrations are specifically
directed to applications in business and economics. Topics
include algebra and geometry of linear and polynomial equations,
logarithm and exponential functions, interest rate calculations,
and elementary matrix manipulation.
C012. Basic Quantitative
Foundations for Business and Economics II (3 s.h.) (MB) FS
Prerequisite: C- or better grade in Statistics C011 or in
Mathematics C055. Continuation of Statistics C011.
Introductory calculus. Topics include differentiation and
integration of polynomial, logarithmic, and exponential
functions. Business applications.
C021. Statistical Methods and
Concepts (3 s.h.) (MB) FS
Prerequisite: C- or better grade in Statistics C011 or H091,
or in Mathematics C055, C075, or C085.
A survey course covering descriptive statistics and an
introduction to probability and to statistical inference. Topics
include probability distributions, random sampling and sampling
distributions, point and interval estimation, and hypothesis
testing.
0022. Selected Statistical
Topics (3 s.h.) FS
Prerequisite: C- or better grade in both Statistics C021 and
calculus (one of the following: Statistics C012 or Mathematics
C066, C075, or C085).
Continuation of Statistics C021. Topics include regression,
correlation, analysis of variance, time series, chi-square tests,
and sampling. Use of a statistical computer package.
H092. Basic Quantitative
Foundations for Business and Economics (3 s.h.) (MB) F
Prerequisite: Special permission. Open only to designated
honors students. This course may be used to fulfill the
Statistics C012 requirement of the School of Business and
Management.
Differential and integral calculus. All topics and illustrations
specifically directed to applications in business and economics.
H093-0094. Basic Statistics for
Business and Economics (3 s.h. each) (MB for H093) FS
Prerequisite: Statistics H092 or Mathematics C075 or C085.
Open only to business designated honors students or with special
permission.
This sequence may be used to fulfill the statistics requirements
of School of Business and Management. First semester: data
sources, summary measures, probability, random variables,
distributions, sampling, estimation and testing, and statistical
software. Second semester: bivariate distributions, linear
regression, multiple regression, analysis of variance,
non-parametric and robust methods, contingency tables, and
goodness of fit tests.
0103. Statistics for Engineers
(3 s.h.) FS
Prerequisite: Math C075. Not to be taken by School of
Business and Management students; open only to engineering
students. Students may elect the optional computer lab Statistics
0279 for 1 s.h.
Descriptive statistics, inference,
regression and correlation, and experimental design. Engineering
applications.
0104. Quality Control and Experimental Designs in Engineering (3 s.h.)
0177. Introduction to Games of
Chance (3 s.h.)
Prerequisite: Statistics 0022. A serious study of the games of
chance. The statistical logic of various betting systems, such as
poker, pari-mutuel betting on horses, casino games, state
lotteries; many business decisions as games of chance.
0204. Introduction to Survey
Design and Sampling (3 s.h.)
Prerequisite: Statistics 0022. This introductory course will
acquaint the student with the tasks and problems encountered in a
survey. Emphasis will be placed on both the theory and
methodology of surveying and include sampling principles, sample
design, questionnaire construction, and response problems. A few
well-known surveys will be briefly reviewed for content and
methodology.
0206. Industrial Statistics and Quality Control (3 s.h.)
0217. Probability Models in Business Decisions (3 s.h.)
0278. Statistics for Experiments
(3 s.h.) F
Prerequisite: Mathematics 0076 and completion of Core Science SA
and SB. Basic statistics for students studying a laboratory
science. Not to be taken by statistics majors. Data
summarization, introduction to probability, probability
distributions, estimation, test of hypotheses, laboratory quality
control, survey design and clinical trials, analysis of count
data, principles of analysis of variance, and regression
analysis. Use of the Minitab statistics software package.
Students may elect the optional computer lab Statistics 0279 for
1 s.h.
0279. Statistical Computation
Lab (1 s.h.) FS
Corequisite: Statistics 0103 or 0278. Optional
laboratory to develop skills in using statistical computer
packages for data analysis and data management.
0285. Introduction to Data
Analysis (3 s.h.)
Prerequisite: Statistics 0022.
Covers techniques for summarizing and displaying data.
Exploratory data analysis methods include stem-and- leafs, robust
statistics, and resistant line fitting. Methods for analyzing
categorical data.
0302. Data Analysis (4 s.h.) S
(alternate years starting in 1996)
Prerequisite: Statistics 0285 and one other 200-level
statistics course.
The logic and method of data analysis. We will start with a
specified research question, find some data which are pertinent
to this question, and analyze them. The analysis will proceed
first by studying the univariate statistical distributions of
relevant variables, then will move on to bivariate and
multivariate methods. Students will write about their research
question; emphasis will be placed on the interaction between the
results of data analysis and the revision of the research
question. The course is cross listed with Sociology 0302 and
Sociology 0564.
0318. Forecasting Methods and
Applications (3 s.h.)
Prerequisite: Statistics 0022.
Covers methods of forecasting. Topics include smoothing methods,
Box-Jenkins methods and other time series techniques.
Applications include economic forecasting, marketing projections,
and financial modeling.
0351. Intermediate Business
Statistics (3 s.h.) F
Prerequisite: Statistics 0022.
Topics will be chosen from multiple regression, analysis of
variance, forecasting, and time series. Standard statistical
packages will be introduced and used extensively. The course will
emphasize applications in business such as financial forecasting,
production management, and actuarial science.
0381. Computational Techniques
in Statistical Analysis (3 s.h.) (alternate years starting in
1996)
Prerequisite: Any 0200-level Statistics course and
Mathematics 0147.
he design and construction of statistical program packages. Data
management and data analysis algorithms, interactive behavior of
programs, communication between components of large software
systems, designing for more than one computing environment.
0394. Special Topics (3 s.h.)
Special topics in current developments in the field of
statistics.
0395-0396. Independent Study
(1-6 s.h.) FS
Prerequisite: Consultation with a faculty member and approval
of department chairperson.
Readings, papers and/or laboratory work under supervision of a
faculty member.
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Comments and questions concerning The School of Business & Management may be sent to Debbie Avery.