Staying true to the business ideals of innovation and entrepreneurship, the College of Business Administration has created two new majors and one new program for the 2004-'05 school year.
The Applied Investment Management Program for finance majors was designed to focus on different aspects of the business world, according to Sarah Peck, acting chairperson and assistant professor of finance.The two new majors are real estate and entrepreneurship. Peck said the college hopes the new program and majors will better prepare Marquette undergraduates for finding internships and jobs.
"These programs will prepare students for the world of work," Peck said. "Undergraduates can get their business career launched and determine the right career choice for them."
The AIM Program, which is largely funded by endowments, focuses on the finance aspect of business — namely investments, banking and business finance. It was designed to help college students achieve real-world experience concurrent with their classes.
AIM Program Director David S. Krause said companies value real-world experience and the world is "wide open" once you have experience and applied knowledge.
According to Krause, the program includes instruction from guest speakers who are members of the investment community and an internship between students' junior and senior year. Students may utilize a research room, complete with continuous CNBC feeds, financial information, Bloomberg software and other hardware used by top investment companies on a daily basis. Finally, students have the opportunity during their senior year to manage a $500,000 portfolio for an actual company.
The real estate major works almost exclusively in the commercial development realm as opposed to residential real estate, said Jim McGibany, associate dean of the College of Business Administration. He said undergraduates in the major examine the profitability of endeavors to build or finance new buildings, study market research and explore the realm of mutual funds and financial investing.
Undergraduates majoring in real estate can become "site specialists" for companies and stores looking to expand, according to McGibany.
"There exists a huge market for these kind of students, especially as downtown Milwaukee undergoes change in their buildings," McGibany said.
He said the entrepreneurship major allows students to examine different aspects of this "hard to pinpoint" career, like starting a private business or exploring taking companies in different directions. Changing a company's direction includes beginning a new venture in an existing company, examining financial situations and marketing the new business.
"The focus of the entrepreneurship program is inter-city business start-ups, finding the niche of the businesses and reinvigorating the central city," McGibany said.
Peck said students interested in the AIM program can apply in the fall of their junior year. Grades in business courses, resumes, letters of recommendation and true "passion" to work in the field are all factors of consideration, she said.