Are You Interested in Business and Engineering?

Engineers who balance their technical and problem-solving skills with a solid understanding of the business environment can significantly improve their likelihood of professional success.

There are two major ways to incorporate business into an engineering major.  The first of these is to pursue one of two business minors offered at Valparaiso University.  The second would involve continuing graduate education after completing the engineering degree, either in the Master of Business Administration (MBA) program or in the Master of Engineering Management (MEM) program.

The Business Administration minor provides students with a thorough knowledge of business topics, including accounting, legal aspects of business, economics, statistics, finance, management, and marketing. A total of 31 credits is required, including nine specific undergraduate business courses. A student earning this minor will have a very strong foundation in business administration.

Courses to complete the Business Administration Minor

ACC 205 Financial Accounting	3 credits
ACC 206 Managerial Accounting	3 credits
BLAW 104 Legal Environment of Business	3 credits
ECON 221 Economics-Micro	3 credits
ECON 222 Economics-Macro	3 credits
IDS 205 Business Statistics	3 credits
FIN 304 Financial Management	3 credits
MGT 304 Management and Organizational Behavior	3 credits
MKT 304 Marketing Management	3 credits

For students who do not wish to pursue a full Business Administration minor, Valparaiso University also offers a Liberal Arts Business minor, which requires only 21 credits.  Although some elements of business administration are omitted, the fundamentals are covered, and many students find it easier to fit a Liberal Arts Business minor into their engineering curriculum.

Courses to complete the Liberal Arts Business Minor

ECON 221 Economics-Micro	3 credits
ACC 205 Financial Accounting	3 credits
BLAW 104 Legal Environment of Business	3 credits
FIN 304 Financial Management	3 credits
MGT 304 Management and Organizational Behavior	3 credits
MKT 304 Marketing Management	3 credits
One course from the following:	3 credits

        ECON 222 Economics-Macro
        ENGL 300 Introduction to Professional Writing
        MATH 240 Statistical Analysis
        PSY 201 Statistical Methods
        SOC 321 Data Analysis
        ACC 206 Managerial Accounting
        IDS 205 Business Statistics
        CE 202 Statistical Applications in Civil Engineering
        ECE 365 Probability and Statistics for Electrical and Computer Engineers

The MBA Program

Students who would like a deeper knowledge of business than that provided by either of these minors might consider joining the MBA program after completing their undergraduate degree.  Engineering graduates typically need to take approximately 50 graduate credits to complete this program, which can be done either full-time or part time.  The MBA program studies the same general topics as the undergraduate minors, but it does so in greater depth and at a greater level of maturity.  It also incorporates special emphasis on the use of technology, the importance of sustainability, and the incorporation of ethical standards into all business decisions.

Engineering students who complete the Business Administration minor and then pursue an MBA degree after graduation will only need to take a total of 38 MBA credits, which is typically done in one calendar year.  As a result, students who plan well can complete both their undergraduate engineering degree and their MBA degree in a total of five years.

The MEM Program

Another way to learn about business and engineering is to join the MEM program after completing an undergraduate degree.  This program has been specially designed for those with an engineering background who would like to learn more about managing technical teams.  While there is slightly less breadth and depth in general business topics than the MBA program, the MEM program incorporates several very special opportunities for students to learn about engineering management.  Engineering management seminars give students the opportunity to learn from practicing engineering managers, while special focus on project management gives students a detailed knowledge of modern management techniques, including software tools and electronic reporting mechanisms.  The capstone of this program is Project Leadership in Action, a yearlong program during which students manage an actual engineering team, either within the university or at their place of work.  After completing this experience, students are well prepared to become professional engineering managers.

The MEM degree requires a total of 36 credits, and it is restricted to students who have an undergraduate engineering degree.  It can typically be completed in one year of full-time study, so that students can earn both their undergraduate engineering degree and an MEM degree in a total of five years.

If you are interested in pursuing any of these business opportunities, your advisor can aid you in creating a plan of study.