Academic Affairs Schools

Kenan–Flagler Business School

McColl Building, CB# 3490; (919) 962-3235;


Jennifer Conrad, Senior Associate Dean and Distinguished Professor


The Kenan–Flagler undergraduate business program offers a program of study that provides students with a thorough grounding in all areas of business and a broad introduction to the liberal arts. The Kenan–Flagler undergraduate experience is distinctive because the school offers

Students choose business electives to develop a specific area of business interest. Courses selected from other UNC–Chapel Hill schools and programs add to their depth of knowledge. The result is that students are able to see "the big picture." The school believes that completion of the undergraduate business program provides students with a distinct advantage in a highly selective and competitive job market.

Students may choose to complete a minor in business administration instead of a business major, or they may take a limited number of business administration courses as general electives for their chosen degree program.

The business administration program is considered a broad-based, general management degree, and the Kenan–Flagler Business School encourages breadth in both the business curriculum and in the continuation of study in fine arts, humanities, and natural and social sciences. A second major may be possible and requires advance approval by both the undergraduate business program and the second academic unit. In all cases, undergraduate business majors are encouraged to take upper-level courses during the third and fourth years.

Admission to the Kenan–Flagler Business School

Kenan–Flagler's undergraduate business program is a small, select program with approximately 335 majors and 35 minors admitted each year. The program seeks candidates whose analytical and organizational abilities, written and oral communication skills, leadership potential, and motivation indicate strong potential for success. Admission is competitive and based on academic achievement, leadership, cocurricular activities and involvement, work experience, diversity of skills and interests, and focus and depth of thought as expressed in essays, a persuasive cover letter, and résumé. Applicants may receive an admission interview.

Preparation for the Business Administration Major or Minor

A student admitted to the Kenan–Flagler Business School may begin the undergraduate business program in the spring semester of the second year or fall semester of the third year. First- and second-year students in the General College who consider themselves prebusiness majors complete certain prerequisite courses as part of their General Education requirements. Preparation for the business major and minor is the same, except that ECON 410 is not a prerequisite for the business minor.

A prebusiness track includes successful completion (defined as earning a final grade of at least a C, not C-) of the following courses (or their equivalents):

First-year students are encouraged to complete ENGL 105, the calculus mathematics requirement, ECON 101, and one of the BUSI 101, ECON 410, or STOR 155 courses. If students wish to be considered for admission in the spring semester of the second year, they need to complete all requirements by the end of the first semester of the second year. Sophomores should not apply for spring admission if they have more than one business prerequisite to complete in the fall semester of their sophomore year. To be considered for admission in the fall semester of the third year, all requirements should be completed by the end of the second year.

For the foundational skills in foreign language, the business school neither requires a particular language nor requires coursework beyond level 3. Please note, however, that some overseas study programs are language-based and may necessitate a student's proficiency beyond level 3. An emphasis in international business requires completion of a foreign language through level 4.

The business school makes no other specific recommendations about courses for other General Education requirements. The school encourages students to challenge themselves by exploring unfamiliar, new disciplines and by strengthening written and verbal communication and critical thinking. It is possible for a business major to earn a second major and a minor, or two minors. First- and second-year students may wish to build a foundation for such a complementary academic track.

Prebusiness Advising

First- and second-year students in the General College who consider themselves prebusiness majors are encouraged to seek prebusiness advising from the social and behavioral sciences division in the Academic Advising Program (Steele Building). The admissions staff from the Kenan–Flagler Business School conducts a series of small group advising sessions to address application specific questions in Hardin Hub and Steele Building. Students may also sign up for these sessions through the scheduling system at

Prospective and current applicants should also frequently check for dates of upcoming information sessions, workshops, or important deadlines.

Admission from the General College

Students interested in pursuing the business major can apply to begin the program in the spring of the second year or the fall of the third year. The undergraduate business admissions process can begin as early as the summer after the first year. All business prerequisites must be completed prior to beginning the program. Applicants with a minimum cumulative grade point average of 3.0 in all coursework and in business prerequisites are given priority consideration in the admissions process. While all of the factors mentioned above are considered in the admissions process, academic performance at UNC–Chapel Hill is a critical component.

Admission to the business minor follows the same application schedule and process as the business major. Admission is both selective and competitive with approximately 35 students admitted to the business minor. Students from any discipline may apply to the business minor during the fall semester of their second year or the fall semester of their third year. Applications for the minor are not accepted once a student has entered the fourth year.

The business administration major is a four- or five-semester program. Students are required to graduate from UNC–Chapel Hill in eight semesters. The business minor requires a minimum of two semesters, preferably three, to complete.

Transfer Admission from Institutions other than UNC–Chapel Hill

Transfer students are an integral and vibrant part of the Carolina community. They bring a wealth of diversity and experience to the institution and enhance the overall experience for all students, faculty members, and staff. In the Kenan–Flagler undergraduate business program, we understand that transferring is a complex process and have outlined below the policies and guidelines to help students make informed decisions and achieve as smooth a transition as possible.

Transfer students must first be admitted to UNC–Chapel Hill by the Office of Undergraduate Admissions prior to applying to the undergraduate business major or minor. Students must spend at least one semester (fall) in the College of Arts and Sciences before they are eligible to start at the business school. (Students apply early in their first semester at UNC–Chapel Hill.) All students (transfer or not) must complete all business school prerequisites before they are eligible to start in the undergraduate business program. While students may be completing their prerequisites in the term during which they are applying, admission priority is given to students with fewer prerequisites remaining at the time of application.

Sophomore Transfers

Sophomore transfer students are defined as undergraduates transferring to UNC–Chapel Hill in either their second, third, or fourth term in residence, meaning that they have five or more semesters to complete their degree requirements. Sophomore transfers

  1. Must complete all business school prerequisites before they are eligible to start in the undergraduate business program. While students may be completing their prerequisites in the term during which they are applying, admission priority is given to students with fewer prerequisites remaining at the time of application.

  2. Should submit a Transfer Equivalency Credit Review form, located on the Kenan–Flagler Web site, for business courses as soon as they accept the offer to attend UNC–Chapel Hill. (A course syllabus must be submitted with this form.) While most transfer equivalencies will be determined through the Office of Undergraduate Admissions, the business school makes all decisions on business course transfers. Students should allow up to three weeks for a decision.

  3. Should know that admission to the business school is extremely competitive. We admit 50 percent of our applicants each year. Students should review the eligibility requirements and class profile at the undergraduate business admissions section of the Kenan–Flagler Web site. Students who are currently enrolled in business programs at other four-year institutions should think carefully about their decision to leave those programs.

  4. Should strongly consider attending UNC Summer School to catch up on completing business school prerequisites. While summer enrollment is not required, more than 75 percent of UNC–Chapel Hill students attend summer school at some point during their four years. UNC Summer School provides transfer students with an excellent opportunity to acclimate to life in Chapel Hill, as well as the academic environment, by completing one or two courses before taking a full course load during the fall semester.

  5. Must apply to the Kenan–Flagler Business School by the October l deadline (applications open on July 1). Sophomore transfers are not considered for the September 1 spring application deadline as their fall performance is part of their admissions evaluation.

Junior Transfers

Junior transfer students are defined as undergraduates transferring to UNC–Chapel Hill and entering their fifth term of residence in the fall semester. Junior transfers

  1. Are strongly encouraged to consider the undergraduate business minor instead of the business major. It is much more reasonable for a junior transfer student to be able to complete the requirements for the minor in their allotted four semesters, both in terms of prerequisites and core courses. Business minors receive all of the benefits that business majors do (alumni network, access to global program opportunities and career development initiatives, etc.), are highly sought after by recruiters, and achieve the same employment placement rates as business majors.

  2. Should know that admission to the business school is extremely competitive. We only admit approximately 50 percent of our applicants each year. Students should review the eligibility requirements and class profile at the undergraduate business admissions section of the Kenan–Flagler Web site. Students who are currently enrolled in business programs at other four-year institutions should think carefully about their decision to leave those programs.

  3. Should be interested in the undergraduate business major. Junior transfer students

    a. Ideally would complete all of their business school prerequisites in their first two years of college/university coursework before coming to UNC–Chapel Hill.

    b. Must have one or fewer business school prerequisites remaining by the end of the UNC–Chapel Hill second summer session before matriculating for the fall semester at UNC–Chapel Hill. The business school will not admit junior transfer students with more than one remaining prerequisite on their fall UNC–Chapel Hill class schedule. While summer enrollment is not required, it might be a good option for some students, since many prerequisites are offered in the summer months. More than 75 percent of UNC–Chapel Hill students attend summer school at some point during their four years. UNC Summer School provides transfer students with an excellent opportunity to acclimate to life in Chapel Hill, as well as the academic environment, by completing one or two courses before taking a full course load during the fall semester. The school will accept online transfer credit from an equivalent Carolina Courses Online for all prerequisites except BUSI 101. Please see to access Carolina Courses Online.

    c. Must request to take up to two core business courses in the first fall semester. Applicants may request courses via the online request form located on the undergraduate business page of the Kenan–Flagler Web site. While there is no guarantee that seats will be secured in two core courses, completing the survey the day it opens (at 8 a.m. on Monday of the first week of classes) provides the highest chance of securing one or two courses. Students interested in finance must request BUSI 408 Corporate Finance. Students interested in marketing must request BUSI 406 Principles of Marketing. Other options for core courses are BUSI 403, 404, 405, 407, and/or 410. Failure to take one or two core business courses in the fall semester will make it challenging to complete the degree requirements in three semesters.

  4. Should submit a Transfer Equivalency Credit Review form, located on the Kenan–Flagler Web site, for business courses as soon as they accept the offer to attend UNC–Chapel Hill. (A course syllabus must be submitted with this form.) While most transfer equivalencies will be determined through the Office of Undergraduate Admissions, the business school makes all decisions on business course transfers. Students should allow up to three weeks for a decision.

  5. Must apply by the September 1 deadline (applications open on July 1).

  6. Should plan on securing a summer internship in the summer after the junior year. Increasingly, employers are making their full-time hiring decisions from their internship pool. Students should plan time for an internship search as well as time over the summer to complete the internship.

  7. Are expected to complete the degree requirements in the number of terms granted upon admission. The University expects students to graduate in a total of eight terms (including the number of terms transferred from the previous institution). Transfer students should not come into the program with the expectation that they will be granted an additional (ninth) semester. However, the school will entertain requests for an additional (ninth) semester if they are made in the eighth semester. Common reasons for securing an additional semester include the loss of transfer credits or the need to retake a failed course that is required for graduation but that is not offered in summer sessions or online.

Business Administration Major, B.S.B.A.

Students are subject to the requirements in place when they are admitted to the Kenan–Flagler Business School; consequently, the requirements described in this bulletin particularly apply to students admitted to the school during the 2015–2016 academic year.

School Requirements

Emphasis Areas

Students in the undergraduate business program are provided with the opportunity to add an optional area of emphasis to their general management degree. While the general management degree is the foundation of the undergraduate business program, students can add additional depth in the following areas: consulting, corporate finance, entrepreneurial studies, general finance, international business, investments, marketing management, operations management, real estate, or sales. Areas of emphasis generally consist of a minimum of nine credit hours of elective courses.


Corporate Finance

Entrepreneurial Studies

Finance (General)

International Business

Internationally-themed business courses taken outside the United States count toward these nine credit hours.


Marketing Management

Operations Management

Real Estate


Transfer of Business Course Credits from Other Institutions

Without regard to a student's prospective academic major or minor at UNC–Chapel Hill, the Kenan–Flagler Business School will consider for transfer credit business administration courses that meet each of the following six criteria. No exceptions are made.

  1. For upper-level courses (equivalent to those numbered 400–699 in the Kenan–Flagler undergraduate curriculum), the course was completed at a) an institution accredited by AACSB International, or b) a constituent four-year institution of the University of North Carolina, or c) an international partner institution of Kenan–Flagler's undergraduate business program. All courses for the business minor must be completed at UNC Kenan–Flagler Business School. Upper-level courses completed at other institutions are not accepted for credit. For lower-level courses (BUSI 101 Management Accounting), the business school will consider comparable courses from any accredited institution of higher education.

  2. The final course grade earned was at least C (not C-) as verified by an official transcript. Courses taken Pass/Fail are ineligible.

  3. A comparable course is available in the Kenan–Flagler undergraduate curriculum.

  4. The course is not approved for credit in other UNC–Chapel Hill departments (i.e., no double credits).

  5. The student completed the course within the past three academic years.

  6. The substantive coverage of material constitutes no less than 75 percent of coverage in the comparable Kenan–Flagler course, and there is sufficient indication of individual student evaluation (i.e., no fewer than two major examinations, including a final examination).

For students who wish to transfer to UNC–Chapel Hill, preapproval of such courses is recommended. Requests for validation of course credits earned at another institution must be made no later than the end of the first semester of enrollment at UNC–Chapel Hill following completion of the course. The business school does not award transfer credits in excess of 13 credit hours total (four courses in any combination of lower- or upper-level courses). For students who earn admission to Kenan–Flagler Business School, no more than three upper-level courses taken at another institution may be applied to the undergraduate business major curriculum unless earned as part of a preapproved Kenan–Flagler overseas study program. Transfer students who have completed a substantial number of business courses at another institution should contact the program office for more specific information related to transfer students. Note that the Department of Economics, not the business school, evaluates economics courses for transfer credit. The Department of Economics is a unit of the College of Arts and Sciences and is located in Gardner Hall.

To request review and validation of eligible courses, students should submit a Transfer Credit Request Form accessible from the undergraduate business program Web site. A copy of the course syllabus must be included for all courses being evaluated. The syllabus must include the title and edition of textbook(s) as well as list explicitly the course content. If the syllabus lists only chapters covered, without a description of the chapter content, a copy of the textbook's table of contents must be included.

Business Administration Minor

The business administration minor offers solid exposure to management education. The business minor is available to students in any discipline. Students must successfully complete four specific business core courses and a minimum of two business elective courses (4.5 credit hours) for a total of 15 credit hours. The program usually takes two or three semesters to complete. Admission to the minor is competitive.

Business minors may take up to three additional business courses beyond the minor requirements. Any additional business courses require departmental permission.

Taking Business Courses as a Nonmajor/Nonminor

Undergraduate students who do not intend to major or minor in business administration may take a limited number of business courses (limits may change based on course availability) as free electives for their particular major. The maximum number of courses in any semester is two, regardless of credit hours, and over the course of a student's academic career the limit is five courses, regardless of credit hours. Registration in business courses for nonmajors and nonminors is made on a space-available basis. Preference is given to students with an overall grade point average of 3.0. Requests for available seats are made online through the undergraduate business program Web site during the first week of each academic semester. Final approval to take a business course is at the discretion of the undergraduate business program. Refer to the course description list for additional information concerning prerequisites for specific courses.


Once admitted to the business major, all academic matters, including academic advising, are handled in McColl Building. Each student is assigned a primary academic advisor as indicated in their Student Center in ConnectCarolina. Students admitted to the business minor should continue to work with their major department for academic matters outside of business minor requirements. All students should meet regularly with their advisor and monitor their progress toward completion of both the business major and minor requirements utilizing Tar Heel Tracker. Upon admission, business majors and minors receive information on how to schedule appointments through the undergraduate business program intranet.

Special Opportunities in the Kenan–Flagler Business School

Honors in Business

The Kenan–Flagler Business School honors thesis offers motivated undergraduate business students the opportunity to work closely with an individual faculty member on a specialized research topic of the student's choice during the senior year. Undergraduate business majors with a 3.3 cumulative graduate point average and a 3.5 grade point average in business courses are invited to be considered for the opportunity to participate in this two-course program (BUSI 691H and 692H).

In the first semester (BUSI 691H), students become familiar with the mechanics, methodologies, and recent literature on topics of major interest. Each student formulates an honors thesis proposal and initiates work on the project. During the second semester (BUSI 692H), the thesis work is conducted under the supervision of a faculty advisor with expertise in the general topic's area of research.

Students who successfully complete the second-semester course (BUSI 692H) will submit to an oral examination on the thesis. Upon successful completion of the program, the student receives the bachelor of science degree with honors or highest honors, as determined by the student's committee.

Career Services

The undergraduate business program provides career development services tailored to business students, such as specialized training and professional development activities, targeted networking opportunities, function- and industry-specific career clubs and student organizations, and focused career coaching. Undergraduate business students are expected to maintain an up-to-date profile on Careerolina through University Career Services, which is the primary resource for all UNC–Chapel Hill students for basic career exploration and interest development, job/internship postings, résumé referral, on-campus interviewing, and career fairs.

As the job market remains highly competitive, the undergraduate business program strongly encourages business students to undertake internships or other experiential learning opportunities when possible. These hands-on experiences can be a valuable part of a student's career development. Also, demonstrated leadership experience along with community service and a global perspective are some additional desirable factors that many employers seek in candidates.

Leadership Development

The Kenan–Flagler Leadership Initiative strives to develop Kenan–Flagler students to become exceptional leaders who positively impact the organizations they lead and the communities they serve. This is accomplished through a systematic approach–integrating principles, practice, feedback, and reflection–that is grounded in leading-edge academic research and business practice. Examples of undergraduate business leadership development programming include lessons-of-experience sessions, managerial simulations, self-assessment workshops, executive coaching, student consulting projects, and student leader development.

STAR Program

Kenan–Flagler's Student Teams Achieving Results (STAR) programs field teams of top M.B.A.s and undergraduate business students to build comprehensive and actionable strategies for eligible corporations and not-for-profits. STAR teams begin the project by developing a scope of work with the client and signing a confidentiality agreement. Over the life of the project, teams typically analyze the market, assess the competitive situation, develop a strategy, and define an action plan that covers financials, risk assessment, and implementation. STAR teams are guided throughout the course by a course professor, a team-specific faculty advisor, and client executives. Opportunities in STAR–Domestic Business Projects exist.

Student Involvement

The undergraduate business program sponsors a variety of student organizations, which include the Accounting Club, AIESEC (International Association of Students Interested in Economics and Business Management), Campus Smart Initiative, Carolina Entrepreneurship & VC Club, Carolina Women in Business, Consulting Club, UNC Finance Society , International Business Club, Kairos Society, Marketing Club, Minority Business Student Alliance, Net Impact Undergraduate Club, Operations Club, Out for Business LGBT Club, Real Estate Club, Technology Club, Undergraduate Business Ambassadors, and Undergraduate Business Student Association, as well as two business fraternities, Alpha Kappa Psi and Delta Sigma Pi. Please visit the undergraduate business program Web site for the most up-to-date information on undergraduate business student clubs and organizations.

Global Programs

Global Learning Opportunities in Business Education (GLOBE®) is Kenan–Flagler's flagship global program. This study abroad program is a partnership with Chinese University of Hong Kong, Copenhagen Business School, and the University of North Carolina. Every year 18 students from each school form a cohort of 54 students. They embark on a three-semester program that takes them around the world studying at each university for a semester. The GLOBE® program customizes the curriculum based on unique strengths of each region. As a result, students take courses in subjects such as private equity, launching global ventures, marketing in China, and corporate response to European integration, among others.

The Phillips Ambassador Scholarship program offers scholarships exclusively for study abroad in Asia. Scholarships are awarded for semester and summer study abroad programs in Asia. Awards range from $5,000 to $7,500.

In addition to the GLOBE® and Phillips Ambassador programs, undergraduates can develop their global perspective through a variety of other academic options: business semester abroad, global immersion electives (GIEs), summer study abroad, international internships, working languages courses with short-term immersions, a global-related academic minor or second major, and a declared "emphasis area" in international business, which includes completion of global courses offered by the Kenan–Flagler Business School. Given the undergraduate business curriculum, semester programs are best suited for the spring semester of the junior year or for the fall semester of senior year. The undergraduate business program endorses several one-semester study abroad opportunities in Europe and Asia. Summer study abroad opportunities are available in Europe, Asia, and Latin America. Global immersion electives include study in such destinations as India, China, the United Arab Emirates, and South Africa.

Undergraduate Awards

Each spring the Kenan–Flagler faculty recognizes select students for outstanding academic excellence, leadership, and community service. Beta Gamma Sigma, the national business school honorary society, inducts students each spring.

Undergraduate Business Symposium

Since its inception in 1983, the Undergraduate Business Symposium continues to be the flagship event for the undergraduate business program and an annual highlight for the Kenan–Flagler community. It is the largest and longest-running student-organized event of its kind. Each year the event brings together more than 250 undergraduates and 50 executives from a diverse set of industries and organizations from across the country. The Undergraduate Business Symposium provides students with the opportunity to learn about a variety of industries and organizations, the chance to network and interact with business executives and faculty, better insight into the dynamic business landscape, and the opportunity to showcase their analytical, communication, and problem-solving skills.


Distinguished Professors

Barry L. Bayus, Richard A. Bettis, Robert M. Bushman, Jennifer S. Conrad, Jeffrey R. Edwards, Paolo Fulghieri, Eric Ghysels, Raj Grewal, John Hand, David J. Hartzell, David A. Hofmann, James H. Johnson Jr., John D. Kasarda, Wayne R. Landsman, Mark H. Lang, Edward Maydew, David J. Ravenscraft, Albert H. Segars, Douglas A. Shackelford, Anil Shivdasani, J.B. Steenkamp, Jayashankar M. Swaminathan, Valarie Zeithaml.


Sridhar Balasubramanian, Edward J. Blocher, Greg Brown, James W. Dean Jr., Steve Jones, Christian Lundblad, Arvind Malhotra, Anne S. Marucheck, Alan W. Neebe, Atul Nerkar, Hugh O'Neill, William P. Putsis, Harvey M. Wagner.

Associate Professors

Jeffery Abarbanell, Christopher Bingham, Richard S. Blackburn, Riccardo Colacito, Robert A. Connolly, Vinayak Deshpande, Nicholas M. Didow, Lynn Fisher, Alison Fragale, Diego Garcia, Katrijn Gielens, Wendell G. Gilland, Mustafa Gultekin, Camelia Kuhnen, Tarun Kushwaha, Eva Labro, Adam Mersereau, Ali Parlakturk, Jana Smith Raedy, Adam V. Reed, Jacob Sagi, Bradley Staats, Geoffrey Tate.

Assistant Professors

Michael Christian, Mariano Croce, Dragana Cvijanovic, Sreedhari Desai, David Dicks, Isaac Dinner, Noah Eisenkraft, Seyedmorteza Emadi, Nickolay Gantchev, Bin Hu, Lisa Jones, Chotibhak Jotikasthira, Saravanan Kesavan, Venkat Kuppuswamy, Anh Le, Xiaoyuan Lu, Shimul Melwani, Paige Ouimet, Matthew Pearsall, Andrew Petersen, Scott Rockart, Amin Sayedi, Nur Sunar, Sriraman Venkataraman, Sean Wang, Kristin Wilson.

Clinical Professors

Peter Brews, Mabel Miguel, Heidi Schultz, Charles Skender, Judy Tisdale.

Clinical Associate Professors

Sharon Cannon, Courtney Edwards, Timothy Flood, Paul Friga, Patricia Harms, Claudia Kubowicz Malhotra, Ted Zoller.

Clinical Assistant Professors

Alexander Arapoglou, Tamara Barringer, Larry Chavis, Jessica Christian, Elizabeth Dickinson, Carol Hee, Michael Meredith, Patrick Vernon, William Weld.

Adjunct Professors

Douglas Elvers, Barry Roberts.

Adjunct Associate Professors

Joseph Bylinski, Travis Day.

Adjunct Assistant Professors

Lynn Dikolli, David Roberts.

Senior Lecturers

Gregory Hohn, Allen Snively Jr.


Maria Elena Rodriguez, Courtney Wright.

Professors of the Practice

Michael Jacobs, Charles Myer.

Professors Emeriti

Robert Adler, Carl R. Anderson, Gary M. Armstrong, Jack N. Behrman, R. Lee Brummet, Dewitt Clinton Dearborn, Robert DesJardins, G. David Hughes, Thomas H. Jerdee, Jay Edward Klompmaker, Clifton Holland Kreps Jr., Hans E. Krusa, Harold Q. Langenderfer, J. Finley Lee, Richard Levin, Richard Wolcott McEnally, Curtis McLaughlin, Dannie Joseph Moffie, Jack Olin, William D. Perreault Jr., John Pringle, Richard Rendleman, Benson Rosen, Aleda Roth, David Rubin, William S. Stewart, Junius H. Terrell, Rollie Tillman, D. Clay Whybark.

Contact Information

Undergraduate Business Program, Kenan–Flagler Business School, CB# 3490, 3122 McColl Building, (919) 962-3235, fax (919) 962-6964, Web site:


BUSI–Business Administration

BUSI 50 First-Year Seminar: Behind the Scenes: The World through Marketing Eyes (3). In this seminar, we'll explore our everyday world through a marketer's eyes. Our goal will be to achieve a real and practical understanding of the basics of marketing, both as a management tool and as a force in our society.

BUSI 51 First-Year Seminar: Financial Reporting and Analysis (3). This course develops the skills needed to examine and understand company financial reports in order to assess the integrity and objectivity of these reports.

BUSI 89 First-Year Seminar: Special Topics (3). Special topics course. Content will vary each semester.

BUSI 101 Management Accounting (4). Elements of accounting for management planning, budgeting, and control. Emphasis is on management uses of accounting information.

BUSI 105 Financial Accounting SS (3). Pre- or corequisite, ECON 101. Offered in summer school only. UNC–Chapel Hill business majors may not count BUSI 105 toward the B.S.B.A. degree. Role of accounting; basic concepts and methodology; mass data processing; valuation and income determination principles; management and internal control problems; and basic financial statement components.

BUSI 106 Financial Accounting CS (3). Pre- or corequisite, ECON 101. Offered online by Continuing Studies. UNC–Chapel Hill business majors/minors may not take BUSI 106. Role of accounting, basic concepts and methodology, mass data processing, valuation and income determination principles, management and internal control problems, and basic financial statement components.

BUSI 107 Management Accounting SS (3). Offered in summer school only. Elements of accounting for management planning, budgeting, and control. Emphasis is on management uses of accounting information.

BUSI 108 Management Accounting CS (3). Offered online by Continuing Studies. UNC–Chapel Hill business majors/minors may not take BUSI 108. May be taken before, after, or concurrently with BUSI 106. Elements of accounting for management planning, budgeting, and control. Emphasis is on management uses of accounting information.

BUSI 188 Foundations of Leadership: Discovering Your Strengths (1.5). This course introduces the concepts of strengths-based leadership development to help uncover strengths and maximize potential for overall success. Students will learn how to connect these strengths to all areas of life, including, but not limited to, their academic journey as well as their future career path.

BUSI 189 Introduction to Careers in Business (1.5). This course gives students an overview of the career options in business. This overview provides an understanding of the foundations of business and allows students to reflect on what specific business areas they might want to pursue.

BUSI 200 Working Spanish for Intermediates (4.5). Minimum level-2 proficiency in Spanish or equivalent required. Course utilizes a unique combination of interactive technology, instructor-led workshops, conversation hours with native speakers, and a required immersion experience in Costa Rica, in order to create culturally sensitive language speakers who can function comfortably and effectively in the Spanish-language workplace.

BUSI 401 Management and Corporate Communication (3). Open to business majors. Writing- and speaking-intensive course that emphasizes professional communication. Provides opportunities to learn and apply the conventions and expectations for standard business documents and presentations. Features strategies for addressing informative, persuasive, and bad-news messages using a variety of media (print documents, electronic messages, and oral presentations).

BUSI 403 Operations Management (3). Analysis of the operations functions in both manufacturing and service organizations. Formulating operational policies that improve efficiency and support high-level business strategy. Developing remedies that mitigate uncertainty and variability in operational processes.

BUSI 404 The Legal and Ethical Environment of Business (1.5). An introduction to the legal system and an examination of ethical issues that affect business.

BUSI 405 Leading and Managing: An Introduction to Organizational Behavior (3). An introduction to leading and managing in organizations. Examines the impact of individual, group, and organizational factors on organizational performance and employee attitudes. Topics include leadership, perceptions, attitudes, motivation, group development, norms and cohesiveness, empowerment, conflict, negotiations, culture, structure, stress, innovation, and change.

BUSI 406 Marketing (3). Introduction to marketing with emphasis on the social and economic aspects of distribution, consumer problems, marketing functions and institutions, marketing methods and policies.

BUSI 407 Financial Accounting and Analysis (3). Students will acquire the tools to understand and analyze information presented in corporate financial statements. Financial accounting results and projected results are utilized in virtually every segment of the business world. Knowledge of financial accounting and analysis is necessary for managers, investors, bankers, financial analysts, and professional accountants.

BUSI 408 Corporate Finance (3). Prerequisites, BUSI 101 and ECON 101. Theoretical foundations of optimal financial policy. Problems and cases provide application of theory to financial decisions involving cash flow, capital structure, capital budgeting.

BUSI 409 Advanced Corporate Finance (1.5). Prerequisite, BUSI 408. A follow-up course to BUSI 408 that goes more deeply into the theory and application of financial management. Emphasis is placed on investment, financing, and dividend decisions.

BUSI 410 Business Analytics (3). Prerequisite, STOR 155. While witnessing an explosion of data, most organizations tend to be awash with data but short on information. This course exposes students to techniques that will help them impact on an organization's strategy, planning, and operations, working on applications spanning a number of fields, including operations management, finance, and marketing.

BUSI 411 Strategic Management (1.5). Students analyze sources of competitive success in organizations using case analysis and written reports to develop analytical reasoning and strategic decision-making skills. Topics include industry analysis, business and corporate strategy, and international business.

BUSI 490 Business Topics (1.5). Varied topics in business administration.

BUSI 493 Business Internship Project I (3). Permission of the department. With prior approval, a student may propose and complete an academic research project (paper and presentation) derived from an internship experience.

BUSI 496 Independent Study in Business (1.5–3). Permission of the department. Supervised individual study and research in the student's special field of interest.

BUSI 500 Entrepreneurship and Business Planning (3). Students gain an understanding of entrepreneurship and the tools and skills necessary to conceive, plan, execute, and scale a successful new venture. Students develop business ventures in teams through an experiential pedagogy.

BUSI 501 Professional Selling Strategies and Skills (3). Prerequisite, BUSI 406. Critical concepts and skills for selling products and services, and influencing others in business. Applicable to people considering sales or consulting as a career; to those thinking of starting an entrepreneurial company; or for those who want to understand how to influence peers, subordinates, and management.

BUSI 502 Entrepreneurial Finance (1.5). Prerequisite, BUSI 408 or 500. In this course students use financial tools and concepts in a real-world entrepreneurial setting. Working in assigned teams, students prepare a pitch book with financial projections for a company they wish to start or buy.

BUSI 503 Family Business I: Introduction to Family Enterprise (1.5). Helps the student understand the evolutionary stages in the life of a family business and the challenges and opportunities that must be managed at each stage.

BUSI 504 Launching the Venture (1.5). Prerequisite, BUSI 500. This is a cross-campus course for exceptional students, staff, and faculty, designed to help launch UNC–Chapel Hill start-ups. Only for students serious about launching in the next nine to 12 months. Admission by online application. More information at

BUSI 505 Consulting to Entrepreneurial Firms (3). Student teams engage in consulting projects to help local start-ups tackle entrepreneurial challenges. Data is collected through fieldwork, such as client meetings, customer surveys, interviews with thought leaders, site visits, product tests, and/or focus groups.

BUSI 506 Venture Capital and Start-Ups (3). Prerequisite, BUSI 408. An introduction to the tools and skills necessary to recognize opportunities in high tech, biotech, and traditional start-ups. Local entrepreneurs come to class to pitch to students, who analyze the start-ups from the perspective of venture capitalists.

BUSI 507 Sustainable Business and Social Entrepreneurship (3). Examines what it means to pursue business success as measured by the triple-bottom line of people, planet, and profit. Focuses on strategies that companies implement to reduce environmental impact internally and through the supply chain. Examines the responsibility of business to employees, consumers, the local community, and society at large.

BUSI 508 Public-Private Development Projects (1.5). Prerequisite, BUSI 408. This course introduces students to challenges and opportunities associated with using public-private partnerships as a vehicle for meeting infrastructure and economic development needs. Students will develop an understanding of how the public and private sectors can have differing perceptions of risk, success, and effectiveness associated with such projects.

BUSI 512 Family Business II: Governance and Ownership (1.5). Recommended preparation, completion of BUSI 503. Helps the student understand specific ownership, stewardship, tax, transition, and wealth management issues that affect family enterprises.

BUSI 513 Innovations and Entrepreneurship in Developing Economies (1.5). Covers innovative private sector approaches to alleviating poverty around the world.

BUSI 514 STAR (4.5). Pre- or corequisite, BUSI 554. Student Teams Achieving Results (STAR) is a live management consulting project that leverages and integrates UNC Kenan–Flagler course curricula. Teams of five to seven M.B.A. and undergraduate students and one faculty member work with major corporations or not-for-profit entities to solve a major strategic issue.

BUSI 515 Social Entrepreneurship through Microfinance (1.5). Analyzes the role of microcredit/microfinance in global sustainable development. Students will be creating, organizing, and facilitating a sustainable microfinance initiative of their own design.

BUSI 517 Private Equity and Debt Markets (1.5). Prerequisite, BUSI 408. The objective of this course is to examine the changing world of private equity investments today. This is a survey course and will help prepare you to work for private equity and venture capital funds or to work for investment banks.

BUSI 518 Applied Private Equity (3). Prerequisites, BUSI 502 and 517. Permission of the instructor. Explores, at a very advanced level, all stages of the management of a venture capital and private equity fund, from capital formation, deal sourcing, due diligence, monitoring and adding value, and exiting of a portfolio company.

BUSI 519 STAR–Global Business Projects (4.5). A global, live management consulting project that integrates other curricula and students (UNC and beyond). Teams of graduate and undergraduate students and one faculty member work to solve a major strategic issue. Team members participate in a three-day training weekend, virtual teaming, and two weeks of in-country project work.

BUSI 520 Advanced Spreadsheet Modeling for Business (3). Primarily an online class. Use critical thinking and advanced Excel features to create spreadsheet models of common business problems. Topics include flexible design, problem-solving, statistical analysis, charting, logic, reference functions, financial analysis, organizing data for complex analysis, what-if analysis, enhanced decision-making tools, troubleshooting workbooks, and VBA.

BUSI 524 Applied Improvisation for Business Communication (3). Focuses on improving students' soft skills, such as presenting, expressiveness, and interviewing, by applying the principles and techniques of improvisational theater. Participants explore creativity, adaptation, awareness, self-confidence, risk taking, physicality, intuition, and teamwork. Students can stretch their abilities and discover things about themselves and others that are crucial to success.

BUSI 525 Advanced Business Presentations (1.5). Prerequisite, BUSI 401. This course is grounded in argument, persuasion, and visual rhetoric to give students skills needed to develop winning presentations. Students learn strategies to help their messages "stick" with their audiences and to develop slide decks for the boardroom and advanced media devices. The course emphasizes efficiency in presentation preparation.

BUSI 526 Leadership in Action (3). Permission of the department. Provides student leaders with practical leadership frameworks and tools; creates opportunities to apply these on the job as leaders; and provides individualized coaching, feedback, and mentoring. This is an applied learning course taught by a seasoned practitioner designed to accelerate each student's development and growth.

BUSI 532 Service Operations (3).Prerequisite, BUSI 403. Studies key challenges in effective service delivery through the analysis of staffing and scheduling, customer waiting, and revenue management. Case studies illustrate examples of effective service design and delivery in various service industries including professional services, banking, health care, hospitality, and entertainment. A simulation project is used.

BUSI 533 Supply Chain Management (3).Prerequisite, BUSI 403. Analyzes the key drivers of supply chain performance including inventories, transportation, information technology, and sourcing. Studies strategies for supply chain coordination, and challenges and opportunities in global supply chains. A supply chain simulation is used.

BUSI 534 Business Modeling with Excel (3). Provides a broad scope of analytic experience across corporate functions that is beneficial in consulting environments.

BUSI 535 Global Operations Strategy (1.5). Prerequisite, BUSI 403. Permission of the department. This course examines how organizations can use their operations to build a competitive advantage. Students may not receive credit for both BUSI 535 and MBA 709A.

BUSI 536 Project Management (1.5). Prerequisite, BUSI 403. Permission of the department. This course prepares students to take part in and lead projects effectively. The goal is to equip individuals across any career concentration rather than extend the expertise of project-management specialists. Students may not receive credit for both BUSI 536 and MBA 710.

BUSI 537 Retail Operations (1.5). Prerequisite, BUSI 403. Permission of the department. Examines developments in retailing and operations management principles applicable to these developments. Topics: consumer behavior, demand forecasting, logistics and distribution, store execution, international retailing, Internet-based retailing, performance assessment, and impact on financial performance. Students may not receive credit for both BUSI 537 and MBA 708.

BUSI 538 Sustainable Operations (1.5). Prerequisite, BUSI 403. This course explores the link between sustainability and the operations function of a firm. The course focuses on the following activities: product and process design; manufacturing; transportation; logistics and distribution; closed-loop/after-sales operations such as recycling, remanufacturing, and reuse; supply chain management.

BUSI 539 Health Care Operations (1.5). Prerequisite, BUSI 403. Permission of the department. Students apply principles and tools of operations management to explore improvement opportunities in the design, delivery, and management of the health care value chain. The course examines the health care operation from the perspective of operations metrics such as cost, quality, time (access), and variety/customization.

BUSI 541 Contract and Commercial Law (3). Designed to give basic instruction in law with special emphasis upon its relationship with business. Content includes many subjects tested on the business law portion of the CPA examination, including the law of contracts and the Uniform Commercial Code (sales, negotiable instruments, and secured transactions).

BUSI 543 Ethics in Management (3). By examining real ethical dilemmas in business, this course will help students analyze a problem from the triple perspective of ethics, economics, and law.

BUSI 545 Negotiations (1.5). Prerequisite, BUSI 405. This course enables students to develop their expertise in managing negotiations. It integrates existing theory and research with personal experiences and ideas. Using hands-on exercises, readings, and lively discussions, students build and hone their ability to understand, adapt to, and evaluate the personal, social, and situational dynamics of negotiations.

BUSI 550 Introduction to Organization Theory and Design (3). Prerequisite, BUSI 405. While BUSI 405 examines the micro-level influences on organizational success, this course focuses on more macro-level influences, including environmental analysis, strategy, structure, inter-organizational relationships, control systems, culture, power, politics, and change.

BUSI 554 Consulting Skills and Frameworks (3). Pre- or corequisite, BUSI 408. Permission of the instructor. The course is dedicated to teaching the core skills for success in consulting and business in general: teamwork, analysis, and presentations.

BUSI 555 Groups and Teams in Organizations (1.5). Prerequisite, BUSI 405. Examines the design, management, and leadership of teams in organizational settings. Focus is on the interpersonal processes and structural characteristics that influence the effectiveness of teams, individual behavior in face-to-face interactions, and the dynamics of interpersonal relationships.

BUSI 559 New Product Marketing (1.5). Prerequisite, BUSI 406. This course provides students a thorough understanding and working knowledge of state-of-the-art tools that drive marketing strategies for launching and managing new products.

BUSI 560 Advertising (3). Prerequisite, BUSI 406. The organization and functions of advertising. Topics include economic and social aspects, types of advertising and advertising objectives, developing advertising messages, media selection and evaluation, advertising research.

BUSI 561 Sales Management (3). Prerequisite, BUSI 406. An overview of the sales management process, including sales force planning, budgeting, recruiting, selection, training, compensation, supervision, and control.

BUSI 562 Consumer Behavior (3). Prerequisite, BUSI 406. Review of conceptual models and empirical research in consumer behavior. Topics include decision processes, social and cultural influences, information processing, and ethical issues.

BUSI 563 Retailing and Distribution Channels (3). Prerequisite, BUSI 406. Examines the supply chain for retail businesses and management decision making in retailing.

BUSI 564 New Product Development (3). Prerequisite, BUSI 406. The course concentrates on the fuzzy front-end of the innovation process, focusing on tools and techniques to uncover consumer insights (needs). The design thinking process is emphasized as part of a semester-long team project. Other topics explored include creativity, intellectual property basics, prototyping, and Innovation 2.0.

BUSI 565 Marketing Research (3). Prerequisite, BUSI 406. An introduction to research methodology with emphasis on the compilation, analysis, and interpretation of data used in the planning and control of marketing operations.

BUSI 566 Marketing Strategy (3). Prerequisite, BUSI 406. The objective of this course is to understand and practice the strategic decision-making process in a dynamic competitive environment. The course builds on the foundations of marketing, and is based on lectures, cases, and computer simulations.

BUSI 568 Marketing Analysis and Decision Making (3). Prerequisites, BUSI 406 and 410. Marketing analytics is a systematic approach to harnessing these data to drive effective marketing decision making. We will learn to analyze historical data, market research data, and competitive information for making strategic marketing decisions. This course will be extensively based on case analysis and hands-on exercises.

BUSI 570 Financial Reporting A (3). Permission of the department. Required in spring semester for senior undergraduate business majors who are admitted to the Kenan–Flagler Master of Accounting Program. The first of two courses designed to provide students with an in-depth knowledge of the practice and theory of financial accounting.

BUSI 572 Introduction to Business Taxation (1.5). Prerequisite, BUSI 570. Permission of the department. Required in spring semester for senior B.S.B.A.s who are admitted to the Kenan–Flagler Master of Accounting Program. Provides students with an initial understanding of the basic framework of the United States income tax system as it applies to businesses.

BUSI 573 Global Financial Statement Analysis (3). Prerequisite, BUSI 407. Provides the tools necessary to understand and analyze information in financial statements prepared under global accounting standards. Includes a study of the costs, risks, and opportunities of United States investors and corporations regarding the convergence of United States accounting standards to global standards.

BUSI 580 Investments (3). Prerequisite, BUSI 408. A survey of investment principles and practices. Emphasis is given to the problems of security analysis and portfolio management with special attention to the investment problems of the individual investor.

BUSI 582 Mergers and Acquisitions (3). Prerequisite, BUSI 408. Through lectures, case studies, and guest speakers, this course will cover all aspects of mergers and acquisitions from strategy to post-merger integration with an emphasis on valuation. Related activities such as hostile takeovers, private equity deals, and international acquisitions will also be discussed.

BUSI 583 Applied Investment Management (3). Prerequisites, BUSI 407, 408, 520, and 580. Permission of the department. Year-long course. A live, student-managed investment fund with real dollars and fiduciary responsibility to the UNC Foundation. Emphasis is on the decisions that must be made by and/or for the ultimate investor and the analytic tools and empirical evidence that can help inform such decisions.

BUSI 584 Financial Modeling (3). Prerequisite, BUSI 408. Skill development in constructing financial models for analyzing problems with decisions faced by financial professionals. Analyzing historical performance, forecasting free cash flows, estimating discount rates, determining terminal value, identifying other sources of value, and interpreting results in a dynamic setting.

BUSI 585 Introduction to Real Estate (3). An overview of residential and commercial real estate markets. The course samples many facets of real estate development, market analysis, operation, valuation and financing. Students will be exposed to the variety of skills and jobs that interact within the industry.

BUSI 586 Personal Finance (1.5). Prerequisite, BUSI 408. Introduces and broadens the concept of personal finance and increases understanding of the process of accumulating and protecting personal wealth. Students learn to identify and analyze risk and return relationships, understand investment alternatives and how strategies develop as life situations mature, and gain understanding of retirement planning and effectively transferring wealth.

BUSI 587 Investment Banking (1.5). Permission of the instructor and confirmed offer of investment banking analyst internship or full-time job. This course prepares students for investment banking positions and internships. The focus of the class is on financial modeling, general knowledge of banking, and what it takes to succeed in the industry.

BUSI 588 Introduction to Derivative Securities and Risk Management (1.5). Prerequisite, BUSI 408. Introduction to derivative securities instruments (options and futures) and applications in investments and corporate finance.

BUSI 589 Fixed Income (1.5). Prerequisite, BUSI 408. The course covers traditional bonds and term structure concepts as well as fixed income derivatives and interest rate modeling.

BUSI 590 Business Seminar (3). Completion of requisite core course(s) and permission of the instructor required. Selected topics in business administration presented in seminar format with students engaged in individual and team study under the supervision of a member of the faculty.

BUSI 591 Behavioral Finance (1.5). Prerequisite, BUSI 408. Completion of BUSI 409 recommended. An abundance of evidence suggests that the standard economic paradigm, "rational agents in an efficient market," does not adequately describe behavior in financial markets. This course will survey the evidence and use psychology to guide alternative theories of financial markets.

BUSI 592 Applied Private Equity: Real Estate (1.5). Prerequisites, BUSI 601 and 603. Permission of the instructor. This course explores, at a very advanced level, all stages of the management of a real estate private equity fund: from capital formation, deal sourcing, due diligence, monitoring and adding value, and exiting of the fund's real estate holdings.

BUSI 593 Business Internship Project II (3). Permission of the department. This course provides students with a format for reflection while performing a professional internship that enhances their ability to achieve career objectives.

BUSI 594 Hedge Fund Strategies (1.5). Prerequisites, BUSI 408, and 580 or 588. Permission of the instructor. Open to seniors only. Covers the operational details of specific hedge fund strategies such as convertible arbitrage and long/short equity strategies.

BUSI 598 Alternative Investments (1.5). Prerequisites, BUSI 408, and 580 or 588. Permission of the instructor. Open to seniors only. Exposes students to the benefits, opportunities, and risks of incorporating alternative investments into managed institutional investment portfolios, including pension funds, endowments, and foundations.

BUSI 600 Risk Management (1.5). Prerequisite, BUSI 408. Permission of the instructor. Open to seniors only. Develops methods for applied analysis of financial and operational risk.

BUSI 601 Real Estate Finance (1.5). Prerequisite, BUSI 408. This course will focus on the different ways to finance real estate property, and how different financing techniques impact the feasibility and investment benefits for equity investors.

BUSI 602 Strategic Economics (1.5). Corequisite, BUSI 408. This course focuses on decision making in the presence of strategic interaction. Students will apply game theory to yield insights into business decisions. Topics covered include pricing, entry, product market competition, first-mover advantage, capital budgeting, antitrust law, corporate governance, auctions, and mergers.

BUSI 603 Real Estate Development (1.5). Prerequisite, BUSI 408. This course is designed to introduce undergraduate students to the finance and economics of real estate development. The course will survey the physical products of real estate, its financial attributes, and the process by which a program of development is implemented. Includes site visits to local real estate projects.

BUSI 604 Real Estate and Capital Markets (1.5). Prerequisite, BUSI 601. Provides a view of how real estate fits into capital markets. Topics include risk-return profiles of residential and commercial real estate investments, real estate as a component of well-diversified investment portfolios, derivative markets for real estate investments, mortgages and timing options, mortgage-backed securities, and markets for real estate investment trusts.

BUSI 610 Global Environment of Business (3).Issues in operating overseas, including analyses of differences in country settings, legal and economic systems, and governmental policies affecting foreign operations. Studies trade theory, country groupings, and financial issues; managing operations in foreign lands; exporting.

BUSI 611 International Development (3). Poverty is part of life for most of the world's population, with half living on less than two dollars a day. Course focuses on understanding this from a business school perspective. Looks at institutional failures that contribute to persistent poverty and the multiple roles managers can play in reducing poverty.

BUSI 617 Global Marketing (3). Prerequisite, BUSI 406. Examination of the problems involved in marketing products and services across national boundaries. Problem issues include culture, ideology, economics, technical standards, and currency movements.

BUSI 618 Global Financial Markets (1.5). Prerequisite, BUSI 408. Develops the foundation for financial decisions in a global economic environment. Extends the analytical concepts and tools learned in introductory investment and corporate finance courses to multicountry/multicurrency settings. Covers three major areas: the economics of exchange rates, international money and capital markets, and international corporate finance.

BUSI 623 Global Entrepreneurship I (3). The course ranges from developing the creative mindset, ideation, development/manufacturing, marketing, selling and managing. The course places heavy emphasis on doing and collaborating rather than listening passively: 1) dream: design process, 2) think: feasibility, 3) create: product development and manufacturing, and 4) tell: marketing. Restricted to GLOBE students.

BUSI 624 Global Entrepreneurship II (3). The course ranges from developing the creative mindset, ideation, development/manufacturing, marketing, selling, and managing. The course places heavy emphasis on doing and collaborating rather than listening passively. 1) sell: sales; 2) run: management, finance and fundraising; and 3) launch Chapel Hill projects. Restricted to GLOBE students.

BUSI 650 Symposium Core Committee (1.5–3). Permission of the instructor. Service on the B.S.B.A. Symposium Core Committee to plan, execute, and evaluate the annual event.

BUSI 653 Applied Learning: Symposium Core Committee (1.5). Permission of the department. This course is by invitation only to students who previously served on the Undergraduate Business Symposium core committee. As senior advisors, students practice the leadership, organization, delegation, communication, and teamwork skills that they learn about in their other courses.

BUSI 688 Applied Derivatives (1.5). Prerequisites, BUSI 408 and 588. Real world applications of the concepts of no-arbitrage pricing covered in the introductory course will be covered. Other applications of derivatives such as portfolio insurance, the consideration of debt and equity as options, and real options.

BUSI 691H Honors Research Proposal (3). Permission of the department. Open to senior business administration majors with 3.5 minimum cumulative grade average. Students learn business research techniques and develop individual proposals for business research. Successful proposals may advance to honors thesis research and writing (BUSI 692H).

BUSI 692H Honors Thesis (3). Prerequisite, BUSI 691H. Permission of the department. Restricted to senior B.S.B.A.s with a 3.5 cumulative grade point average. Original investigation of a topic in business and preparation of a substantive research project under the direction of a faculty advisor. A written essay and an oral presentation are required.