Lawrence University Course Catalog

2024-2025 Course Catalog

Please note: The information displayed here is current as of Sunday, December 22, 2024, but the official Course Catalog should be used for all official planning.

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Innovation & Entrepreneurship

Professors	C. Skran (Government, Edwin & Ruth West Professorship of Economics and Social Science) (on leave term(s) III), T. Troy (Theatre Arts, J. Thomas and Julie E. Hurvis Professor of Theatre and Drama)
Associate professors	A. Galambos (Economics, Dwight and Marjorie Peterson Professor of Innovation, chair term III), B. Pertl (Conservatory of Music)
Visiting Assistant Professor	M. Clayville (Conservatory of Music)

Program description

The IA in Innovation & Entrepreneurship allows students to create and pursue innovative and entrepreneurial ventures in courses and co-curricular activities. It is important to note that we use the word “innovative” in a particular sense, referring to creative, original thinking that leads to new ideas, products, or services that create value for society. Similarly, we use “entrepreneurial” in a specific way, referring to taking initiative and generating positive change in the world. Our use of the word “venture” includes both for-profit businesses and non-profit enterprises, and includes any initiative to deliver a product or service in a sustainable way, including those conducted within an existing organization.

The Interdisciplinary Area in Innovation & Entrepreneurship is a vital offering of the Business & Entrepreneurship program [see BUEN major section for additional information.] Taken in conjunction with a disciplinary major, it allows students to augment their core with the skills, methods, and a mind-set that promotes innovative and entrepreneurial thinking.

Innovation, entrepreneurship, and business fit naturally into a liberal education. The cultivation of innovative, entrepreneurial thought and action requires one to approach problems from multiple perspectives, to think creatively beyond the status quo, to create and deliver coherent, persuasive arguments. An understanding of the role, possibilities, and limitations of business in our society further requires study and consideration from multiple perspectives. These are essential skills that a liberal education aims to impart to its recipients. The IA in I&E program is one place among many where Lawrence’s curriculum attempts to develop the ability to create what did not exist before. Graduates who embrace innovative and entrepreneurial attitudes and methods will be better equipped to create fulfilling lives for themselves—lives that extend beyond their liberal arts experience in college.

Required for the interdisciplinary area in Innovation & Entrepreneurship

Three core courses:
1. I-E 100: In Pursuit of Innovation
2. I-E 120/BUEN 120: Fundamentals of Accounting
3. I-E 300: Entrepreneurial Ventures
At least one elective from:
- I-E 280/MUSI 280: The Entrepreneurial Musician
- I-E 245/GOVT 248: Social Entrepreneurship
- I-E 220/BUEN 220: Foundations of Financial Management
- I-E 295: Topics in Innovation and Entrepreneurship
- I-E 440: Business of You
- I-E 495: Topics in Innovation and Entrepreneurship
- BIOL 103: Biotechnology & Society
- ECON 223: Quantitative Decision-Making
- ECON 405: Economics of Innovation and Entrepreneurship
A second course from 2. above OR any I&E course OR any I & E cross-listed course OR approved course on Innovation list. A course may be considered for approval on the Innovation List at the request of a student or faculty member to the B & E director. At this time the Innovation List includes the following courses:
- ART 245: Interarts: New Media Projects
- ART 320: Intermediate Printmaking or Art 520: Advanced Printmaking
- ART 600: Studio Art Senior Seminar
- CHEM 112: Energy, Technology, and the Environment
- ECON 400: Industrial Organization
- ECON 430: Economic Growth & Poverty Traps
- I-E 250/BUEN 250: Intro to Marketing
- I-E 401/GOVT 401: Field Experience in Development
- I-E 444/ECON 444: Political Economy of Regulation
- I-E 450/ECON 450: Economics of the Firm
- PHYS 340: Optics
- RLST 245: Apple, Google, Facebook
1. Practicum: A 3-unit or 6-unit course, including Start-up Theatre (I-E 255/THAR 255), KidsGive, Internship in Studio Art (ART 395, 595, or 695), or others, including the option of a 400-level (or higher) IS to continue a project started in a course. Students seeking to count an internship or other non-credit bearing experience equivalent should consult with their advisor and the Director of the B&E program.

Courses - Innovation & Entrepreneurship

I-E 100: In Pursuit of Innovation

This course acquaints students with various aspects of innovation and entrepreneurship, broadly understood. Topics cover methodologies, theories, and history of innovation. The course focuses largely on projects pursued by teams which conceive and conduct ventures that illuminate innovation and entrepreneurship. Class activities include lectures, discussions, student presentations. Experienced guest experts will offer advice and guidance to student teams. May not be taken on an S/U basis. PREREQUISITES: Sophomore standing

I-E 110: Financial Literacy

I-E 120: Fundamentals of Accounting

This course will introduce students to the fundaments of financial accounting and managerial accounting. The course will introduce balance sheets, income statements and cashflow statements and how to communicate financial information to external audiences, as well as ratio analysis and internal financial reporting frameworks for organizational decision making. Through the course, students will learn the ethical principles that should guide accounting practices, including those use by the US Generally Accepted Accounting Principles.

I-E 191: Directed Study in Innovation & Entrepreneurship

I-E 195: Practicum in Innovation & Entrepreneurship

An opportunity for students to gain practical experience with innovation and entrepreneurship in the context of a for-profit or not-for-profit organization, an ongoing student venture (e.g., Rabbit Gallery, Greyfell Theatre, Paper Fox Printmaking Workshop, or KidsGive), or a startup venture. The academic component of the internship includes readings related to the substance of the internship, discussions with the faculty supervisor, and may include a written report appropriate to the discipline. Course grades are based on this academic work and participation in a group project. PREREQUISITES: To register student must complete the Student Initiated Course Form with consultation of supervising instructor

I-E 212: Corporate Finance

This course studies the function of finance and the flow of funds within the corporation. Topics include financial analysis, decision making, capital acquisition and use, and strategic planning. Three comptetencies will be emphasized: numeracy through financial analysis, decision-making based on financial information, and communication skills through conveying analyses and decisions to the end user (the board, shareholders, other stake holders). Lecture with case studies assignments, and exams. PREREQUISITES: I-E 110

I-E 220: Foundations of Financial Management

This course will build on Fundamentals of Accounting and introduce students to further topics in managerial accounting and to financial management. Students will learn commonly used frameworks that allow people to identify, measure, analyze and interpret accounting and financial information for the purposes of internal decision-making. The course will cover key concepts that are used to provide greater understanding of the operations of an organization, including margin analysis, constraint analysis, and capital budgeting, as well as trend analysis. Students will also be exposed to ethical l considerations that relate to accounting practices. PREREQUISITES: Fundamentals of Accounting (BUEN 120)

I-E 245: Social Entrepreneurship

I-E 250: Introduction to Marketing

Students will receive a broad introduction to marketing and marketing concepts such as marketing orientations and frameworks; branding; how to price, promote, and distribute goods and services; and market research and analysis. The course emphasizes critical thinking through the debate and discussion of broader moral, sociocultural, and political aspects of the marketing process and the study of marketing from the perspective of the consumers and other stakeholders rather than strictly from the perspective of the firm. Students will gain exposure to the theoretical basis for the increasingly widespread application of technology. Throughout the course, social and emotional judgment and independent thinking are stressed. PREREQUISITES: BUEN 100 or approval of instructor

I-E 255: Start-Up Theatre

I-E 280: The Entrepreneurial Musician

A broad introduction to entrepreneurship for musicians, dancers, thespians, visual artists, and other interested students. This course aspires to give students the tools and the mindset to become agents of innovative, entrepreneurial change, social entrepreneurs or entrepreneurial artists. After presenting a social science view of entrepreneurship, the course will feature faculty from a variety of disciplines as well as visiting entrepreneurs. This is a project-oriented course with extensive speaking that will challenge convention, push you to new realms of creative thought, and stretch the boundaries of collaborative learning. Are you ready to unleash the power of the liberal arts?

I-E 285: The Eloquent Musician

I-E 295: Topics in Innovation and Entrepreneurship

I-E 300: Entrepreneurial Ventures

This course provides a thorough introduction to business models and business plans as relevant for both non-profit and for-profit ventures. Students will work in teams to develop plans for a new enterprise. The course relies heavily on the expertise of invited speakers (including alumni) and the analysis of case studies. Each invited expert will give a guest lecture, lead discussion of a case study, and mentor students in their projects. PREREQUISITES: I-E 110 and one of: I-E 100, I-E 280, or I-E 245

I-E 315: Introduction to Spanish for Business

This course is designed as an introduction to the Spanish-speaking business world. Students will acquire a solid foundation in the vocabulary and modes of communication needed to successfully interact with different types of businesses. Students will also explore the cultural and geographic aspects of the Spanish-speaking business worlds in Latin America, Spain, and in the Latinx communities in the United States. The course will be conducted as a seminar, with oral and written activities, exams, and projects. PREREQUISITES: Spanish 202, Spanish 204, it's equivalent, or consent of instructor

I-E 358: Contemporary China, 1949-2000

I-E 360: Management & Leadership

The course is designed to integrate theory with real world applications to help students learn to effectively lead and manage a diverse, inclusive, and entrepreneurial organization. The course requires a term-long team-based problem-solving real-world project using the STEPS process. Topics for discussion include: Entrepreneurial Leaders/Managers; Leading Teams; Strategic Management; Creative Problem-Solving & Decision Making; Ethics & Social Responsibility; Developing Workplace Culture & Managing Change; Communications Across the Organization; Human Resource Management; DEI; Conflict Resolution, and Emotional Intelligence. PREREQUISITES: ECON 100 AND I & E 110 OR BUEN 120/I & E 120 OR Consent of Instructor

I-E 390: Tutorial in Innovation & Entrepreneurship

I-E 391: Directed Study in Innovation & Entrepreneurship

I-E 395: Practicum in Innovation & Entrepreneurshp

I-E 399: Independent Study in Innovation & Entrepreneurship

I-E 401: Field Experience in Development

I-E 440: The Business of You

In this course students are challenged to view themselves as a constantly evolving business, each day looking to do more, and grow more. Students will learn to create flexible, incremental plans, and supportive networks, and about topics such as the basics of marketing, performance psychology, and managing risk. Exercises and quest speakers will focus on skills such as interviewing, creating and refining resumes and CVs, and networking. May not be taken for credit if already have credit for UNIC 295. PREREQUISITES: I & E 100 OR BUEN 100 OR at least one course in the BUEN Entrepreneurship focus area

I-E 444: Political Economy of Regulation

I-E 450: Economics of the Firm

Even in a “market” economy, the preponderance of economic activity is carried out through firms and other organizations. The course examines economic theories of the firm, and explores some of the canonical questions, such as why are there firms, how the separation of ownership and control of a firm shapes decision making, what determines the boundary between organizations and markets (e.g., make-or-buy decisions), what types of firms are most innovative, and how new technologies affect organizational structure. PREREQUISITES: ECON 300 or GOVT 271

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