2023-2024 Course Catalog

Please note: The information displayed here is current as of Wednesday, May 8, 2024, but the official Course Catalog should be used for all official planning.

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Business & Entrepreneurship

The  Business and Entrepreneurship (BUEN) major harnesses the power of liberal arts education to prepare students for thoughtful leadership of and engagement with for-profit businesses, non-profit organizations, and start-up ventures.   Broadly speaking, “business” refers to the various aspects of managing the people and resources of an organization to meet the goals of the organization within a market framework, while "entrepreneurship" refers to taking initiative and creating positive change in the world through a start-up or in an existing entity. 

The BUEN major allows students to understand the role of business within society, develop depth within a chosen focus area related to business, and better prepare them for their lives after Lawrence.  The BUEN major is for students who plan to continue into careers in for-profit businesses and not-for-profit organizations, both in the United States and globally.

Students begin the BUEN major with three introductory courses: 1) Business and Society (BUEN 100);  2) Introductory Economics (ECON 100); and 3) Fundamentals of Accounting (BUEN 120).   Students then move on to an intermediate group of core courses that add breadth of both perspective and skills in accounting and financial management, marketing, and entrepreneurship.

In addition, students take a course that helps them to understand business "for the greater good,"  a class that focuses on the ethical, environmental, and/or societal aspects of business in both theory and practice. This requirement  ask students to think critically about the choices that confront businesses today and how businesses have, or have failed to, or could contribute to the greater good of our society.

The BUEN major further  requires students to select a focus area (four additional courses) that provides their major with a deeper level of engagement and understanding. Students may currently select from: 1) Entrepreneurship; 2) Business Analytics; 3) Arts Entrepreneurship; 4) Natural Resource and Energy Management. Students may also self-design their own focus area, with approval of their advisor and the I & E director. Each focus area requires some courses that bridge business topics and skills from relevant disciplines.

The Experiential Learning requirement of the BUEN major helps  to "learn by doing" in a non-classroom setting.  There are a number of ways to fulfill this requirement (see below), but many students will opt for an off-campus internship between their junior and senior years. 

The BUEN Senior Experience seminar (BUEN 600) emphasizes the benefits of blending the tools of business disciplines with multiple liberal arts perspectives on understanding business and its place, history, challenges, and promise in society.  It furthers integrates the Experiential Learning requirement of the major so that students have both an understanding of business and entrepreneurship in theory and in practice. 

 

 


Required for the major in Business and Entrepreneurship

The major in Business & Entrepreneurship requires the following courses:

Introductory level (3 courses):

BUEN 100:  Business and Society

BUEN 120/I & E 120: Fundamentals of Accounting

ECON 100: Introductory Economics

Intermediate core  (4 courses for breadth):

I & E 100, In Pursuit of Innovation or I & E 245/GOVT 248, Social Entrepreneurship

BUEN 220/I & E 220  Foundations of Financial Management 

BUEN 250/I & E 250: Introduction to Marketing

Business and the Greater Good –– select one course from this list of options: 

  • HIST 307/BUEN 307, History of Black Business in 20th Century America
  • ENST/ECON/GOVT 151, Introduction to Environmental Policy
  • ENST 470/GOVT 465,  Environmental Politics
  • ENST/GOVT 270/GLST 271, Global Environmental Politics
  • BUEN 365, Ethical Issues in Business Today
  • ETST 342/BUEN 342, Workplace Diversity and Equity

Additional courses, including courses taken during off-campus study, may meet this requirement with approval of the advisor and Director of I & E. 

Focus area  (4 courses for depth) - select one area only:

Note:  Students should consult their academic advisor for the BUEN major or the Director of I & E for a full list of approved electives for each focus area.

Entrepreneurship

     a. I & E 300, Entrepreneurial Ventures

     b. 12-units of Entrepreneurship electives

     c. 6-units of  BUEN elective 

Arts Entrepreneurship

     a. BUEN 150/MUEP 150, Introduction to Arts Management

     b. I & E 280/MUSI 280, Entrepreneurial Musician 

     c. 6-units in  Arts Entrepreneurship electives 

    d. 6-units of  BUEN elective 

Business Analytics

     a. ECON 223, Quantitative Decision Making

     b. STAT 255, Statistics for Data Science (calculus required as a prereq)

     c. 6-units in Business Analytics electives

     d. 6-units of BUEN elective

Natural Resource and Energy Management

     a.  Environmental, Social, and Governance Issues in Business (new course to be added)

     b. ECON 285, Natural Resource and Energy Economics

     c. 6-units of Natural Resource and Energy Management electives

     d. 6-units of BUEN elective 

Self-designed Focus Area: students have the option of working with their advisor to propose a set of courses with an explanation of how these courses would result in a coherent focus area in the BUEN major. Students interested in doing this should plan with their advisor and consult the chair of I & E before beginning their junior year at Lawrence or, for transfer students, in their first year at Lawrence. The Self-designed focus area must be approved both by the advisor and the Director of I & E.  

Experiential Learning Requirement:

BUEN 594: Experiential Learning and Professional Preparation

In addition to BUEN 594, All students must take an experiential learning component, which can be fulfilled in one of the following ways:  

     a. not-for-credit internship, usually taken in the summer after the junior year

     b. for-credit internship during the academic year

     c. I & E 395, I & E practicum, currently offerings include the Rabbit Gallery, KidsGive, and Start-up Theatre.  Other practicum options may be accepted with the approval of the chair of I & E. 

     d. Internship completed during an off-campus student program

     e.  BUEN 401/I & E 401 Field Experience  (included two, 3-unit courses plus a travel component) 

     f. Shadowing experience with a business organization (requires advisor approval).

Senior Experience: 

BUEN 600, Senior Experience seminar (3 units) 

 

Additional information:

Transfer students planning to major in BUEN should consult their advisor at an early date to develop a program for completing the major in a timely fashion.

The BUEN major encourages its students to make full use of the programs and opportunities offered by Lawrence University, including study abroad exploration.  Students should consult the office of Off-Campus programs, their advisor, or the Director of I & E for more information on the programs best suited for their interests and needs. 


Experiential Learning in Business and Entrepreneurship

All BUEN majors complete an experiential learning requirement which enables them to "learn by doing."  Students have the opportunity to complete this requirement in a number of ways, including:  1) a not-for credit internship, typically taken in the summer between the junior and senior academic years; 2) a for-credit internship taking during the academic year, typically in the junior or senior year; 3) participation in a practicum sponsored by the I & E program.  Currently these practicums include Rabbit Gallery, Start-up Theatre, and KidsGive.

Students may also complete an internship as part of an off-campus study abroad program, such as that offered by the Lawrence London Centre. Other ways to fulfill the requirement include completing a field experience project, or through an approved “shadowing” experience with a business organization.

In addition, all BUEN majors take BUEN 594: Experiential Learning and Professional Preparation, a 2-unit course that is taught in conjunction with a career service professional.  This course prepares and facilitates the experiential option selected by the student, and supports students pursuing a variety of career paths.    


Senior Experience in Business and Entrepreneurship

The Senior Experience seminar (BUEN 600) provides a bookend to the introductory Business and Society course. Through readings, discussions, and guest speakers, students will reflect on their learning inside and outside the classroom. The seminar also features a reflection assignment that involves students connecting their experiential learning to their coursework and career plans. The Senior Experience seminar thus provides a structure for students to reflect on their learning in the major, including the experiential component, and to connect those experiences to their future career plans, goals, and aspirations.


Courses - Business and Entrepreneurship

BUEN 100: Business & Society

This course introduces students to a critical examination of the ways in which business intersects with society. The course will begin with an overview of business structures and concepts. It may include topics such as regulations and government, sustainability, managing people, and data and decision-making. This course emphasizes business in local communities. In class, students will engage in lecture as well as discussion. Students will complete a mixture of short assignments, exams, and projects.
Units: 6

BUEN 120: Fundamentals of Accounting

This course will introduce students to the fundaments of financial accounting and managerial accounting. The course will introduce balance sheets, income statements and cashflow statements and how to communicate financial information to external audiences, as well as ratio analysis and internal financial reporting frameworks for organizational decision making. Through the course, students will learn the ethical principles that should guide accounting practices, including those use by the US Generally Accepted Accounting Principles.
Units: 6
Also listed as Innovation & Entrepreneurship 120

BUEN 150: Introduction to Arts Management

This class will introduce students to the skills, knowledge, and passion required for a career in arts management and non-profit arts leadership. Lectures, projects, and presentations will address topics including programming, marketing, fundraising, finance, crisis management, arts advocacy, community engagement, and board management. Field trips to local arts organizations and visits from arts professionals will provide networking opportunities and enable students to explore career paths. Students will engage with the challenges facing the arts industry, including the urgent need to diversify organizations and programming and to increase audiences and support for the arts.
Units: 6
Also listed as Music 150

BUEN 220: Foundations of Financial Management

This course will build on Fundamentals of Accounting and introduce students to further topics in managerial accounting and to financial management. Students will learn commonly used frameworks that allow people to identify, measure, analyze and interpret accounting and financial information for the purposes of internal decision-making. The course will cover key concepts that are used to provide greater understanding of the operations of an organization, including margin analysis, constraint analysis, and capital budgeting, as well as trend analysis. Students will also be exposed to ethical l considerations that relate to accounting practices. PREREQUISITES: Fundamentals of Accounting (BUEN 120)
Units: 6
Also listed as Innovation & Entrepreneurship 220
Prerequisite: Fundamentals of Accounting (BUEN 120)

BUEN 221: Money and Banking

This course introduces students to money, banking, and financial markets. We will discuss topics including the functions of money, the monetary system, bank management, the behavior of financial markets, the risk and term structure of interest rates, and the role of United States financial institutions. Students will read carefully, complete regular problem sets, and take quizzes and exams. PREREQUISITES: ECON 100
Units: 6
Also listed as Economics 221
Prerequisite: ECON 100

BUEN 250: Introduction to Marketing

Students will receive a broad introduction to marketing and marketing concepts such as marketing orientations and frameworks; branding; how to price, promote, and distribute goods and services; and market research and analysis. The course emphasizes critical thinking through the debate and discussion of broader moral, sociocultural, and political aspects of the marketing process and the study of marketing from the perspective of the consumers and other stakeholders rather than strictly from the perspective of the firm. Students will gain exposure to the theoretical basis for the increasingly widespread application of technology. Throughout the course, social and emotional judgment and independent thinking are stressed. PREREQUISITES: BUEN 100 or approval of instructor
Units: 6
Also listed as Innovation & Entrepreneurship 250
Prerequisite: BUEN 100 or approval of instructor

BUEN 270: Business Law

The legal system is the framework that enables business to operate and also provides the boundaries and guardrails for business. An understanding of the law is not only essential in business, but it is also the context in which important ethical questions about the place of business in society are raised and resolved. This course will introduce students to the basic principles underlying the legal system and to areas of law that are particularly relevant in a business environment. Building on these foundations, students will engage with the normative, ethical questions that arise in law. The course will be taught through a combination of lecture and case discussions. There will be special focus on the development of skills of analytical reasoning, argumentation, negotiation, and persuasion. PREREQUISITES: BUEN 100: Business and Society or sophomore standing
Units: 6
Also listed as Government 323
Prerequisite: BUEN 100: Business and Society or sophomore standing

BUEN 307: History of Black Business

This course focuses on the history of African-American entrepreneurship, the American Civil Rights movement, and legal history relevant to Black business development. The course begins with a discussion of the African origins of Black business, follows the trajectory of African American entrepreneurship in the United States to the Civil Rights movement, and closes with the emergence of the superstar Black athlete as an entrepreneur and the Hip Hop Superstar as an entrepreneur in late 20th century America. The course will conclude with a discussion of present-day laws and legal decisions impacting African-American entrepreneurship.
Units: 6
Also listed as History 307, Ethnic Studies 307

BUEN 342: Workplace Diversity and Equity

This course will critically examine diversity, equity, inclusion, and belonging (DEIB) practices in the workplace as part of a longer history of public relation campaigns adopted by businesses to improve their public image. We will learn about DEIB initiatives, investigate the importance of entrepreneurship to communities of color; explore how organizations aim to support diverse groups; examine efforts to recruit and retain workers from underrepresented groups; analyze case studies of commodity activism designed to attract consumers; and talk to local business owners about the ways their own diverse identity and/or their DEIB initiatives have impacted the workplaces they manage. Students will have the opportunity to participate in community engaged learning by engaging with a number of local business owners, DEIB practitioners, consultants, and experts in the field.
Units: 6
Also listed as Ethnic Studies 342

BUEN 355: Models of Strategy & Leadership

An analysis of leadership in a variety of organizations, with examples drawn from politics and business. The course develops a theoretical view of leadership as a response to group dilemmas inherent in coordinating actions, eliciting effort, and developing information within organizations. Students will apply and evaluate course ideas through readings, encounters with guest speakers, and participation in case-study simulations. PREREQUISITES: Any social science course, or Business & Society,
Units: 6
Also listed as Government 355
Prerequisite: Any social science course, or Business & Society,

BUEN 360: Management & Leadership

The course is designed to integrate theory with real world applications to help students learn to effectively lead and manage a diverse, inclusive, and entrepreneurial organization. The course requires a term-long team-based problem-solving real-world project using the STEPS process. Topics for discussion include: Entrepreneurial Leaders/Managers; Leading Teams; Strategic Management; Creative Problem-Solving & Decision Making; Ethics & Social Responsibility; Developing Workplace Culture & Managing Change; Communications Across the Organization; Human Resource Management; DEI; Conflict Resolution, and Emotional Intelligence. PREREQUISITES: ECON 100 AND I & E 110 OR BUEN 120/I & E 120 OR Consent of Instructor
Units: 6
Also listed as Innovation & Entrepreneurship 360
Prerequisite: ECON 100 AND I & E 110 OR BUEN 120/I & E 120 OR Consent of Instructor

BUEN 365: Ethical Issues in Business Today

Students will engage with how ethics, values, and business practices influence each other in contemporary society. Through writing about and discussing ethical dilemmas and conflicting values, students will learn about classic frameworks for thinking about these issues, and they may also refine their own value systems. Readings and cases will present conflicting views on capitalism, business, and the role of ethics, and will thus invite a variety of viewpoints. The course will feature business leaders as guest speakers who will bring real world case studies into the classroom. PREREQUISITES: At least one introductory course in BUEN and sophomore standing
Units: 6
Prerequisite: At least one introductory course in BUEN and sophomore standing

BUEN 401: Field Experience in Development

Students engaged in this course will have the opportunity to do field research in a developing country. Each student will develop and implement a project that concerns a political, social, economic, business or environmental issues that is important in the country visited. Past Field Experiences have taken place in Sierra Leone, Ghana, Jamaica, and Morocco. Students will also have the opportunity to learn from both national and local leaders in the country of research, and to participate in community engaged learning through volunteer activities. Class members will travel during spring break 2024. Students should register for GOVT 401 in both winter 2024 and spring 2024. [Note: two terms of GOVT 401 are considered the equivalent of a six-unit 400-level GOVT course]. Planned Location for 2024: Jamaica
Units: 3
Also listed as Innovation & Entrepreneurship 401, Government 401, Global Studies 401, Economics 206, Environmental Studies 311
Prerequisite: ENST 300, GOVT 248, GOVT 500 and RLST 240

BUEN 424: Quantitative Decision-Making 2

QDM2 picks up where QDM leaves off, asking students to create solutions more autonomously and examining more complex decision problems. For example, we may examine nonlinear optimization with multiple decision variables and more complex decision-making under uncertainty, including the use of simulation models, probability distributions, and Bayes Rule. Many assignments and exams will be completed using Excel, building on the Excel skills developed in QDM. PREREQUISITES: Econ 223 and STAT 255, or Econ 223 and instructor approval
Units: 6
Also listed as Economics 224, Mathematics 224
Prerequisite: Econ 223 and STAT 255, or Econ 223 and instructor approval

BUEN 440: The Business of You

In this course students are challenged to view themselves as a constantly evolving business, each day looking to do more, and grow more. Students will learn to create flexible, incremental plans, and supportive networks, and about topics such as the basics of marketing, performance psychology, and managing risk. Exercises and quest speakers will focus on skills such as interviewing, creating and refining resumes and CVs, and networking. May not be taken for credit if already have credit for UNIC 295. PREREQUISITES: I & E 100 OR BUEN 100 OR at least one course in the BUEN Entrepreneurship focus area
Units: 6
Also listed as Innovation & Entrepreneurship 440
Prerequisite: I & E 100 OR BUEN 100 OR at least one course in the BUEN Entrepreneurship focus area

BUEN 444: Political Economy of Regulation

This course focuses on the tension between politics and expertise that characterize the administrative regulatory state often called "the fourth branch of government." Several competing models of political economy shape an exploration of the continuing evolution of the U.S. regulatory system, the process by which regulations are proposed, written, implemented, and enforced, and the tools used to evaluate the costs and benefits of regulations. PREREQUISITES: ECON 300 and ECON 380 recommended
Units: 6
Also listed as Economics 444, Innovation & Entrepreneurship 444, Government 444
Prerequisite: ECON 300 and ECON 380 recommended

BUEN 450: Economics of the Firm

Even in a “market” economy, the preponderance of economic activity is carried out through firms and other organizations. The course examines economic theories of the firm, and explores some of the canonical questions, such as why are there firms, how the separation of ownership and control of a firm shapes decision making, what determines the boundary between organizations and markets (e.g., make-or-buy decisions), what types of firms are most innovative, and how new technologies affect organizational structure. PREREQUISITES: ECON 300 or GOVT 271
Units: 6
Also listed as Innovation & Entrepreneurship 450, Economics 450
Prerequisite: ECON 300 or GOVT 271

BUEN 495: Advanced Topics in Innovation and Entrepreneurship

This course will offer opportunities to explore special topics in Innovation and Entrepreneurship. Topics will be taught at an advanced level, so the course will build on previous work in Innovation and Entrepreneurship. May be repeated when topic is different.
Units: 6
Also listed as Innovation & Entrepreneurship 495
Prerequisite: I-E 300 or permission of instructor

BUEN 594: Experiential Learning and Professional Preparation

This course will help students to prepare professionally for their experiential learning experience, including internships, study abroad, and/or an on-campus practicum. Topics to be covered include: What is experiential learning and how is it different from learning in a traditional classroom setting? What skills, techniques, and mindsets maximize one's learning in different kinds of workplaces? How can one develop the capacity to tolerate ambiguity, acquire new intellectual capabilities, and thrive in multi-cultural teams? The course will primarily be based on the discussion model, including readings and presentations from guest speakers. PREREQUISITES: BUEN majors with junior standing
Units: 2
Prerequisite: BUEN majors with junior standing

BUEN 600: Senior Experience in Business & Entrepreneurship

Students will reflect on their learning in the BUEN major and use that as the foundation for imagining and designing their professional lives after graduation. Through readings, discussions, and guest speakers, students will engage in exercises that encourage exploration. Students will connect their experiential learning to their coursework and career plans through a reflection assignment. Guest speakers, including alumni, will share their insights on career paths, lifelong learning, and how personal values shape career choices. PREREQUISITES: Senior standing
Units: 3
Prerequisite: Senior standing