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School of Management Courses

The curriculum at Union Graduate College combines rigorous coursework with hands-on experience. The courses provide a solid foundation in business administration and offer the breadth and depth that allow students to select an area of focus in Finance, Marketing and Operations, Economics, or Management and Human Resources.

MBA Courses (for additional information please refer to the Union Graduate College Catalog or contact Dean Chudzik at chudzikm@union.edu or call 518-388-6447)

*Indicates Advanced Course

MBA 500. Managing Ethically in a Global Environment
This course examines issues of team functioning, ethics, and managing differences all in an increasingly global business environment. Students work individually and in groups to improve written and verbal communication skills.

MBA 501 (Half Course). Mathematics of Management
This course focuses on mathematics useful in modeling management processes. Fundamental concepts of differential and integral calculus and their applications to management are addressed. Students must register separately for MBA 501 and MBA 502.

MBA 502 (Half Course). Introduction to Probability
This course covers marginal, joint and conditional probability; random variables, expected value and variance; selected probability distributions and their uses in management; and sampling distributions and the Central Limit Theorem. Students must register separately for MBA 501 and MBA 502. Prerequisite: MBA 501.

MBA 506. Statistical Models for Management
This course emphasizes statistical approaches (confidence intervals, hypothesis testing, regression analysis, chi-square tables) that support managerial decision-making. Examples of such decisions include determining the best of several suppliers or appropriate salary levels based on education and required skill. Examples from quality management, such as capability analysis and control charting will also be included. Emphasis will be placed on problem statement formation, translation of problem statements into quantitative terms, and finding appropriate data to reach supportable conclusions. Analysis will be performed using statistical and other software. Prerequisites: MBA 501, and MBA 502.

MBA 510. Financial Accounting
An introduction to the “generally accepted accounting
principles” of financial accounting as applied to publicly reported financial statements. Emphasis is to be placed on understanding the application of “generally accepted accounting principles” to financial statements. This course is designed for individuals with no prior academic or professional education on the topic of financial accounting.

MBA 510. Financial Accounting
This course is the same as MBA 510 in class version previously noted. Classes will have voice over power point and video. The students will need a DSL or cable line to facilitate downloading the classes. If the system does not work, backups will be available on either DVD or CD. Classes will meet together two times: before classes begin and then exam week for a class session (the final exam will be given in the class and there will be presentations). The course is limited to 15 students.

MBA 512. Managerial Accounting
An introduction to the tools and techniques of financial analysis and decision-making. Topics covered include financial statement analysis, cost classification and behavior, cost-volume-profit analysis, incremental cost analysis, time value of money, capital budgeting, and financial planning. Spreadsheet programs are used in this course. Prerequisite: MBA 510. Students are expected to be proficient in the use of Microsoft Excel®.

MBA 517. Advanced Corporate Finance
This course covers advanced topics in corporate financial management. The analytical skills necessary to evaluate complex financial problems are developed through case studies. Topics covered include: advanced capital budgeting, agency theory, option theory and applications, measuring and hedging financial risk, merger and acquisition analysis, corporate financial analysis and planning models, and short-term financial management. Prerequisites: MBA 506, 510 and 512.

MBA 520. Principles of Economics
This course covers the basic microeconomic model of price determination; the impact of market structure on price and output decisions by firms; the role of the public sector in an economy; the basic macroeconomic model of national income determination; the impact of fiscal and monetary policies on employment levels, price stability and economic growth; and international economic relationships.

MBA 525. Marketing Management and Strategy
In this course, marketing-related considerations for organizations, both generally and specifically, are discussed in a manner that is designed to provide students with a basic-level understanding of issues organizations face which have strategic importance from a marketing perspective.

MBA 531. Operations Management
This course starts with a look at total quality management with an emphasis on the Six Sigma approach to process improvement. Next the fundamentals of inventory management are discussed with the primary objective being to understand the causes of inventory and how to effectively reduce inventory levels. This topic is expanded into the important topics of lean supply chain design and management, and lean production management. A balanced approach is taken with coverage of tools but also an emphasis on the impact of strategic and managerial decisions on the effectiveness of various approaches to operations management.

MBA 545. Strategic Use of Information Technology*
The course considers the use of management information systems within the organization, specifically addressing what an information system is, the underlying technologies, and how current and future computing and telecommunications technologies will contribute to the daily operation and competitiveness of the organization. Particular emphasis is placed on use of information systems to gain competitive advantage.

MBA 551. Managing People and Teams in Organizations
This course approaches management issues from the “human” side. By relying on text materials related to basic theory and research in management, and by integrating activities and hands-on learning opportunities, students have a broad range of techniques that equip them to function as effective managers in modern organizations. Particular emphasis is given to skills and activities associated with Total Quality Management.

MBA 570. Legal Principles of Business
The objectives of the course are to enable the business manager to identify situations with legal implications and to interact effectively with professional legal counsel. Particular areas of the law examined during the course are contracts, sales, negotiable instruments, negligence, product liability, secured transactions, and ethical considerations. Not open to JD/MBA students.

MBA 610. Advanced Topics in Domestic and International Financial Accounting*
Examination of financial statement reporting practices for selected advanced business activities including income recognition of complex business transactions, business financing decisions, mergers/acquisitions, international subsidiaries and international business transactions and related hedges. Prerequisites: MBA 510 and 512.

MBA 611. Personal Financial Planning
This two-part course first presents an examination of personal financial planning in a global environment encompassing topics such as personal budgeting, insurance coverage, investment planning, managing credit, retirement planning and estate planning. The course then extends the topics to related domestic and international tax issues of income tax considerations for individuals, corporations and partnerships. Knowledge of the current business environment (tracked through the Wall Street Journal, Business Week, online at CNNFN.com, etc.) will be expected. Prerequisites: MBA 510 and 512.

MBA 619. Investments*
This course provides an in-depth analysis of modern investment analysis and portfolio management techniques. Current theory, empirical evidence, and institutional practices are considered. Topics covered include portfolio theory and asset pricing models, market efficiency, fixed-income portfolio management and immunization, equity valuation models, the valuation of options, futures and other derivative securities, portfolio management and performance evaluation, and international diversification. Recommended: MBA 517. Prerequisites: MBA 510 and 512.

MBA 620. Investment Management*
The preliminary goal of this course is to provide students with an opportunity to gain valuable hands-on experience in fiduciary management of investment assets, such as security research, valuation of risky assets, asset allocation, and portfolio management. Investment is a field of business where intuition often plays a more important role than theoretical knowledge. In this course, we discuss the rapid development in investment theory that helps us identify the factors that are responsible for price movements. We focus on how to apply theory into practice. Students will work on challenging, integrated, analytical projects using real time capital market data. This course will increase the student’s knowledge in industries such as equity research, investment banking, commercial banking, and corporate finance. This course runs for three terms starting in the fall term. This course is run in conjunction with the Investment Club; therefore participation in the Investment Club is required. Prerequisites: MBA 510 and 512.

MBA 621. Managerial Economics*
The course applies principles of micro-economic theory to managerial decision-making. Micro topics include demand theory, estimation and forecasting, production and cost
theory, market structure, forecasting with econometric, time series and exponential smoothing models. Other topics include the role of government in decision-making, risk analysis, and pricing practice. Prerequisite: MBA 520.

MBA 624. Sports Economics*
Topics covered in this course include the measurement of competitive balance and its impact on sports leagues; discrimination in sports; efficiency of sports teams and individual athletes; labor unions and labor relations in professional sports; the efficiency of sports wagering markets; and the estimation of marginal product for professional athletes. Prerequisites: MBA 506 and 520.

MBA 626. Marketing Research Techniques*
The objective of this course is to provide comprehensive exposure to marketing research methods. The course is designed for the manager with ultimate responsibility for identifying the scope of and implementing particular market research activities. The course explores the application of scientific investigation to the identification and solution of marketing problems. Prerequisites: MBA 506 and 525.

MBA 627. Industrial Marketing*
This course examines the process of product development from the stage of market identification through rollout of the new product. Subjects considered include: market research techniques, using primary and secondary data, idea generation, designing for quality, marketing strategy and launch. The primary focus will be on products to service the industrial or business market, but techniques from consumer marketing will be incorporated. Prerequisite: MBA 525.

MBA 628. Consumer Behavior*
This course is designed to enhance your understanding of consumers like you and me. To that end, we will explore the current state of knowledge regarding consumer behavior through discussion of several theories and marketplace exemplars. This exploration will identify many, many influences that may shape an individual’s behaviors in the marketplace, with subsequent discussions regarding the impact of these influences on various managerial decision-making situations. Prerequisite: MBA 525.

MBA 629. Money, Markets and Banking*
The course covers the nature and functions of money and finance in the economy. Commercial and central banking, monetary theory, and monetary policy are also considered. Recommended: MBA 517. Prerequisites: MBA 510 and 512.

MBA 632. Quality Systems Management*
This course examines quality improvement approaches in the context of overall organizational objectives. Topics include: the contents and impact of important government and industry standards such as ISO 9000; Six Sigma, including the Measure-Analyze-Improve-Control model (MAIC) and Design for Six Sigma (DFSS); extensions to benchmarking and quality functional deployment; advanced tools, such as systems reliability and maintainability and life data analysis. Prerequisites: MBA 506 and 531.

MBA 641. Systems Analysis and Simulation*
In this course students build and utilize computer simulation models to analyze a wide range of systems. Applications include restaurants, doctors’ offices, customer call centers, and many others. Models are built using specialized simulation software as well as Microsoft Excel. Prerequisites: MBA 506 and MBA 531.

MBA 650. Competing by Design*
Design often signals a shift in strategic emphasis and patterns of organizational performance. Design can also be used to shape an organization’s tone or operating style. Dramatic and lasting restructuring or reengineering plans often fail without the mindset of change architects who share the new strategic vision and corporate values. The ultimate goal of design is to use organizational structures, systems, and processes creatively as a sustainable source of competitive advantage. This course focuses on examining how successful corporations leverage competitive advantages through restructuring and external alliances. Students will apply theoretical knowledge and conceptual models to analyze organizational structures, diagnose organizational design, and evaluate a range of design options and implementation strategies available for transitioning organizations. Topics include corporate downsizing, strategic control systems, horizontal structures, outsourcing, partnerships, virtual forms, and global design. Prerequisite: MBA 551.

MBA 652. High Performance Leadership*
This course emphasizes cognitive skills and experiential/ practicum learning applied to ongoing leadership and organizational problems. Students learn about leadership roles and competencies essential for building and supporting organizational capabilities and business strategies in global markets. The course also enables students to learn a method to diagnose their strengths and weaknesses in leadership capacities and measure their proficiencies against benchmarked models of high performance leadership. Prerequisite: MBA 551.

MBA 653. Organizational Development and Transformation*
This course considers the theory and practice of planned organizational change. Students are exposed to a variety of intervention techniques applicable in a wide range of
organizational settings. Lectures are complemented with participatory exercises and interactive discussions. Prerequisite: MBA 551.

MBA 656. Ethical Issues in Management*
The purpose of this course is to develop a general management perspective that includes the abilities to: 1) identify ethical issues in management, 2) analyze these issues in terms of several important frameworks for ethical reasoning and 3) appreciate the central role of ethics in managerial decision-making. Issues from a variety of the functional areas of business – including accounting, marketing and advertising, financial services, human resources, and information technology – will be considered. The course will rely heavily upon the case analysis method, group discussion, and group presentations.

MBA 654. Labor Relations*
This comprehensive course ties together the history of modern labor movements in the United States with issues facing workers in the Twenty-First Century, including the impact of globalization and international outsourcing. Subtopics include negotiation, conflict resolution, and workforce diversity. In addition, a comparative study on international unions will be examined. Each week, current events and their implications to labor relations will be discussed. Prerequisite: MBA 551 recommended.

MBA 660. Executive Decision Processes in Global Environments*
Along with information technology, international management is the major challenge facing organizations in the hypercompetitive global marketplace. Companies that once served a specific geographic area or serviced a specific need have learned to compete with anybody, anywhere, anytime. Needing to diversify in order to compete effectively, an increasing number of multinational companies are finding it essential to anticipate changes and innovate continually to become world-class organizations. Global management requires visionary leaders and strategic thinkers who are driven by a customer focus and continuous improvement, supported by a fluid virtual organization and sustained by creative human capital and extensive information technology. These leaders must also recognize the existence of cognitive barriers to decision-making and how to overcome decision traps and make better choices for their multinational
companies. Using Internet-based search engines, cases, and small group projects, students will have hands-on experiences and acquire the skills necessary to become successful decision makers for their multinational companies. Prerequisite: MBA 551

MBA 661. International Finance*
An analysis of international financial markets and the special problems and opportunities associated with the financial management of multinational firms. The international
monetary and banking system, balance of payments, and economic parity relationships are also examined. Foreign exchange risk management, international financing activities, multinational capital budgeting, political risk, international taxation issues and diversity of financial reporting are considered. Prerequisites: MBA 506, 510 512 and 517.

MBA 662. International Business*
This course examines international business management as influenced by the important economic, political and cultural environment within which businesses must conduct international trade and investment. The problems and issues confronting international managers are evaluated related to a firm’s strategy, organizational structure, manufacturing, material management, marketing, R&D, human resources and finance. Competitive strategies are examined that have been successful in leading international companies. Case studies are used extensively to illustrate the relevance of these topics in the practice of international business.

MBA 663. e-Commerce*
This course provides an exposure to important concepts and major issues of e-commerce. Several case studies of the leading companies in Internet business will be analyzed.
This course aims: a) to evaluate the new economies of information and the strategies for new and existing businesses on the web; b) to study the aspects of framing a market opportunity on the web; c) to understand the seven major business models on the web—online retailers, online content providers, Internet access providers, online market makers, online portals, online brokers, and application service providers; d) to provide an overview of the network infrastructure and web technologies; e) to study the marketing opportunities on the web and what is an effective web site; f) to review the global impact of e-commerce and an insight into the legal and security issues; g) to understand managing risk in e-business and to understand the critical success factors; and h) to examine the last two years of e-commerce and to look at what worked and what did not work on the web and to look at the future of e-commerce. Prerequisite: MBA 525.

MBA 664. Entrepreneurship*
Course held off campus, 8 Airport Park Blvd, Latham, NY (http://www.shggroup.com/contactus.htm ) for directions.
The primary objective of this course is to develop an awareness of the process of new venture creation, whether it is an intrapreneurial or entrepreneurial event. The skills, knowledge and attitudes important for creating new ventures, and the complex tasks faced by individuals who start and manage new and growing businesses as well as corporate ventures and franchises will be addressed. The course is designed to provide a broad overview of management and financial issues. We will pay particular attention to: entrepreneurial decision-making, techniques entrepreneurs and investors use for evaluating and testing the feasibility of business opportunities, understanding the impact of market and industry forces on start up, performance and survival of new ventures, financing a business opportunity, etc. Prerequisite: MBA 551.

MBA 665. International Marketing Management*
This course examines development of international marketing strategies, from determining objectives and evaluating international market opportunities through coordinating strategies in world markets. Particular emphasis is placed on application of marketing principles in the multinational
environment. Prerequisite: MBA 525.

MBA 675. Foundations of Human Resource Management*
An introduction to the theory and practice of human resource management that examines the psychological, economic, political, legal and managerial aspects of the following functions: recruitment and selection, job analysis, human resource planning, training and development, foundations of selection, employee rights and ethics, and equal employment opportunity. The focus of this course includes profit, non-profit and governmental organizations with particular emphasis on health care delivery firms. Prerequisite: MBA 551.

MBA 676. Managing Human Resources*
An introduction to the theory and practice of the following human resource management functions: performance appraisals, establishing rewards, pay plans and benefits, health and safety in the workplace, workplace violence, effective workplace communications, discipline and corrective action, labor relations and collective bargaining. Three perspectives will be addressed in each function: management, psychological and legal. The focus of this course includes profit, non-profit and governmental organizations with particular emphasis on health care delivery firms. Prerequisite: MBA 551.

MBA 677. International Human Resource Management
International Human Resource Management will focus on how effective human resource policy and practice contributes to a global company’s competitiveness. This course will be considered within the context of strategic business objectives, culture, and resource management constraints given by the various national entities. Special focus will be placed on understanding the unifying human resource policies that support the strategic objectives of a global organization. This course will draw on practical examples from companies that have experienced challenges of international human resource management. Prerequisite: MBA 551 and 676.

MBA 681. Strategic Management and Leadership (MBA Capstone)
The goal of this course is to integrate all of the MBA course work to prepare the students to address the full scope of business they will face as leaders in the business world. This is done by having student teams work with real start-up companies to develop a complete business plan for the company. The plans are developed in phases over the term with the teams working closely with their companies and culminating in a presentation of the plan to a simulated investor panel made up of the company CEOs. Students must have three or fewer courses left to complete the degree requirements after taking MBA 681.

MBA 682. Management Science*
Management science refers to the use of mathematical/
computer models to solve managerial problems or help make managerial decisions. This course covers the management science tools most widely used in industry (mathematical programming, queuing theory, decision analysis, network models of project management, and an introduction to simulation). Students will learn the solution procedures associated with each approach, utilize software to implement the procedures, and conduct case studies using the computer models. Prerequisites: MBA 506 and 531.

HCM 500. Introduction to Health Systems
This course examines the determinants of health, illness, and medical care utilization, institutional arrangements and settings for the delivery of acute and chronic care, the
doctor-patient relationship, resource allocation and financing, and measuring and evaluating system performance. This is a prerequisite to all advanced health courses.

HCM 501. Health Systems Management
This course examines the various aspects of managing in the modern health care environment. A variety of methods including lectures, case studies, in-class exercises, and student presentations will be used. Topics covered include quality improvement, ethical management, managing diversity, communications, leadership, motivation, team building, and conflict resolution. Prerequisite: HCM 500.

HCM 526. Health Systems Marketing
This course introduces students to the principles of marketing and their application to Healthcare settings. At the end of this course, students should a.) Understand what marketing can do for the healthcare organization in terms of contribution to strategic planning, building business, strengthening relationships between the organization and its constituents, and achieving competitive advantage. b.) Clearly understand how to use health data in marketing planning and implementation. c.) Appreciate the challenges of evaluating the effectiveness of marketing communications investments made by healthcare organizations. d.) Understand the relationship between patient/customer satisfaction and service quality in health organizations. e.) Understand how to judge marketing communications quality, both qualitatively and quantitatively. f.) Demonstrate effective communications skills through in-class participation, writing assignments, and class presentations. g.) Analyze marketing problems and select effective strategies for solving them. h.) Understand key marketing concepts and their applications to business and healthcare organizations.

HCM 571. Clinical Leadership Practicum
(Cross-listed as LIM 571)
Students will work in the field with a preceptor in a clinical leadership role. Students may be placed in a variety of health care settings including: hospitals, physician offices, health maintenance organizations, etc. Classes meet every other week to discuss students’ field experiences and selected readings.

HCM 590-595. Independent Study in Health Systems.
Students pursue programs of independent study in a particular area of health systems under the supervision of a faculty member. Written permission of the instructor and MBA Dean is required.

HCM 617. Health Care Finance*
This course covers financial management in a regulated health care environment. Topics include cost-finding and third-party reimbursement, contemporary issues in health care financing, sources of capital, capital budgeting, financial planning and analysis, cost accounting, and managed care issues. Prerequisites: MBA 510 & 512.

HCM 620. Health Economics*
This course is intended for students entering the health field and investigates economic approaches to problems and solutions. Students obtain an understanding of how
economics contributes to public and private decision-making in health care, and learn to properly interpret economic research results and apply them to work performed by health planners and administrators. Prerequisites: HCM 500, MBA 506 and 520.

HCM 645. Introduction to Strategic Use of Information Technology (1/2)*
This is a five-week introductory class which will cover the basic concepts of information technology. Specific topics include hardware, software, databases, and telecommunications. Class will be a mix of lecture, class participation, and guest speakers. Case studies, along with discussion of contemporary IT events and situations will be used to demonstrate the importance and impact of IT in the modern world. The focus of the course is on real-world problem solving and interactive discussions rather than a presentation of facts. This course is the first five weeks of MBA 545. This course is a prerequisite for HCM 646 Health Information Technology.

HCM 646. Health Information Technology (1/2)*
The course builds on the information technology foundation presented in HCM 645 by focusing on clinical and administrative applications commonly found in health care organizations. The course surveys the historical development, structure, role and use of information systems in the management, strategic planning and operation of health service organizations. Emphasis is on information technology from the end user’s perspective, particularly the role of information technology in patient safety, quality management and how information technology supports the efficient and effective delivery of health services to the target population. Prerequisite: HCM 645 Introduction to the Strategic Use of Information Technology.

HCM 650. Structural Dynamics in Health Care Systems*
Application of organization theory to health care organizations and systems for the purpose of improving performance. Topics include: organizational structure and design, coordination and control, power and politics, organizational culture, organizational ethics, organizational change. Prerequisites: HCM 500 and 501.

HCM 656. Group Practice Administration:
The objective of this course is to introduce students to the organization and management of private group practice through seminar and practical experience. It is intended that this course will prepare students for employment in private group practices and/or other ambulatory care organizations. Prerequisites: HCM 500 and 501.

HCM 674. Legal Aspects of Health Care*
This course is designed to familiarize students with basic legal issues involved in managing health care systems. Antitrust, consent, labor law, malpractice, professional rights and other problems are explored using actual and hypothetical case studies. Not open to JD/MBA students.

HCM 680. Health Policy and Managerial Epidemiology*
This course covers two main topics. The first (focusing on public policy formulation and implementation) is designed to provide an understanding of the political and regulatory environment of health care organizations. The second focuses on understanding and applying basic epidemiological methodologies to the health care management arena. Prerequisites: HCM 500 and 501.

HCM 681. Strategic Issues for Health Care Organizations* (Health MBA Capstone)
This course is designed to integrate the concepts and skills associated with managerial problem-solving learned throughout the MBA in Health Systems Administration program. Students analyze case studies addressing the strategic realignment of health service organizations in today’s turbulent environment. A variety of expert practitioners present their views on this topic. Students must have three or fewer courses left to complete after taking HCM 681.

HCM 684. Strategic Issues for Health Care Organizations (for Leadership in Medicine Students) (MS Capstone)
This course is designed to integrate the concepts and skills associated with managerial problem-solving learned throughout the MBA in Health Systems Administration program. Students analyze case studies addressing the strategic realignment of health service organizations in today’s turbulent environment. A variety of expert practitioners present their views on this topic.


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