Undergraduate Catalog

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Finance, Insurance and Real Estate (FIRE) Undergraduate Programs

463 CENTENNIAL HALL/(320) 308-4986

Also see Herberger Business School descriptions and requirements.

Chairperson: Steven Mooney
Faculty: Bohnen, Gangopadhyay, Haley, Hudson, Jamdee, Li, S. Mooney, Supanvanij, Wang, Yu, Zhang

The finance major prepares the student for positions as financial managers and investment analysts in private business or non-profit organizations and within governmental units. Those completing the program are qualified for employment in the securities industry, financial intermediaries, financial management or investment organizations, international finance, and in government regulatory, administrative or service agencies.

The risk management and insurance major offers a full array of courses and provides an opportunity for specialization areas. Career opportunities are available in areas of risk management, risk management consulting, property and liability insurance sales, life and health insurance sales, insurance company operations and management, actuarial science, social insurance, insurance regulation, and insurance support services.

The real estate majors are given a choice among numerous career specializations. Career opportunities are available in brokerage, sales, appraisal, financing, investments, contracting, planning and development, property management, and construction management. Under the direction of the Minnesota Chair in Real Estate, this is the most diversified real estate program in the upper Midwest.

Minnesota Chair in Real Estate
Steven P. Mooney

The Minnesota Chair in Real Estate, established in 1978, was the first endowed professorship in the State University System. The chair was initially funded by individuals and organizations in the real estate industry for the purpose of providing an academic major in real estate and continuing education for real estate practitioners. Today the chair is self sustaining. Other programs of the Minnesota Chair in Real Estate include the Minnesota Real Estate Research Center.

Bachelor of Science

Major (70-73)*
A 2.65 GPA is required to apply for a FIRE major. A major in finance, insurance or real estate includes the business core plus one of the following programs:

Insurance (30)

(Note: This program is suspended and is not admitting new students.)
Required (18): FIRE 375, 378, 475, 476, 479, 480.
Select two courses (6) from the following: FIRE 373,471, 472, 474, 487.
Select one of the following (3): MGMT 352, 365, 467, MKTG 415. FIRE 444 Internship OR a Non-Herberger Business School elective with adviser approval (3).

Certificate in Insurance (15)

The Insurance Certificate program will help students prepare for working in the insurance industry and insurance-related areas such as human resources, risk management, and financial planning. Insurance is a vital industry providing employment for numerous types of careers, including accountants, information specialists, and those skilled in the medical profession. The Insurance Certificate is earned by passing (with a grade of C- or better) the five required classes;  FIRE 375 - Risk Management and Insurance, FIRE 475 - Life and Health Insurance, FIRE 476 - Property and Liability Insurance, FIRE 479 - Social Insurance, and FIRE 480 - Employee Benefits and Group Insurance. Each of these classes is worth 3 credits.

Real Estate (33)
Required (24): FIRE 375, 378, 386, 483, 484; BLAW 434; ECON 465, CMTY 200.
Select 9 credits from one of the following areas: brokerage management, sales and marketing, building and construction, finance and investments, planning and development, real estate appraisal, property management, and insurance. Electives selected to fulfill requirements of the major require adviser approval.

Finance (33)
Required (21): FIRE 373, 375, 378, 471, 472; ECON 471; ACCT 371.
Select at least four electives, one from Group I, two from Group II and one from Group III (12).
Group I: FIRE 473, 474, 481, 487
Group II: FIRE 386, 427, 473, 474, 475, 476, 479, 480, 481, 483, 484, 487, 490, 498
Group III: FIRE 386, 427, 473, 474, 475, 476, 479, 480, 481, 483, 484, 487, 490, 498; ACCT 427, 482, 483; MKTG 415, BLAW 434, 436; MGMT 462, 365, 479, 452, 470; MATH 211, 212, 222, 312; PHIL 481; CMST 211, 213, 341, 441; ECON 405, 406, 417, 460, 470, 472, 485, 486; IS 150, 341, 350. (Cannot use both FIRE 427 and ACCT 427 toward elective.) Students will meet the Upper Division Writing Requirement by the successful completion of FIRE 378.

Finance, Insurance, or Real Estate Minor for Business Majors (15)
Five upper-division FIRE courses in either finance, or insurance, or real estate, selected with the prior approval of the student's minor adviser. Note: Non-FIRE majors would ordinarily be required to include FIRE 373, 375, and 378 as three of the five courses.

Finance, insurance or real estate minor for nonbusiness majors and/or Bachelor of Elective Studies students (24)

(Note: The Insurance minor is suspended and is not admitting new students.)
ACCT 291, 292; BLAW 235, FIRE 371, 375, 378 and 6 credits from 300-400 level FIRE department courses elected from area of finance, insurance or real estate (approved in advance by minor adviser).

Notes
Non-business majors who choose to minor in business may take no more than 30 credits of their total university course work in the Herberger Business School.

1. Selected courses are an integral part of the international business program described in this catalog.
2. Only students admitted to a business major or minor program and who have completed 60 semester credits (junior standing) may enroll in 300 and 400 level courses. FIRE Department permission required for all other students.
3. Business students should consult their adviser before enrolling in 201 due to the 50% rule.