The Labovitz School of Business and Economics places an emphasis on outstanding, innovative experiential learning, equipping our students with what they need to know for success in an ever-expanding global marketplace. With all that LSBE does for its students and the community, it's our alumni and friends who graciously support our efforts. Alumni and friends fund over 175 LSBE scholarships and support our many innovative programs.
Through both classroom and experiential learning experiences, students are provided with the skills and knowledge to develop an expert understanding of the accounting and finance disciplines.
The department is home to the specialized Financial Markets Program, which gives undergraduate students the amazing opportunity to manage a real portfolio of investments.
Additionally, the department is home to the Financial Planning Program, which gives students the eligibility to sit for the Certified Financial Planner (CFP) Board of Standard certification examination, leading to the professional CFP designation.
The Department of Economics focuses on social, business, and individual decision-making and the goals, incentives, institutions, and constraints affecting those decisions. The Department of Economics curriculum combines the classical liberal arts and modern quantitative approaches. The department also places an emphasis on outstanding, innovative experiential learning opportunities, equipping our students with what they need to know for success in economics careers. The Health Care Management major prepares students to work in an important, life-changing industry with unique demands and unique rewards.
Department of Management Studies
The Department of Management Studies provides students, through both classroom and experiential learning experiences, the skills and knowledge to develop an expert understanding of the management discipline.
Faculty impart knowledge and facilitate the development of skills for students to:
- Conduct business activities professionally and ethically.
- Lead others to accomplish group and organizational goals.
- Think critically about and make effective decisions affecting organizational stakeholders.
- Address organizational needs with technical solutions.
- Become successful entrepreneurs, human resource professionals, and managers.
Through both classroom and experiential learning experiences, students are provided with the skills and knowledge to develop an expert understanding of marketing disciplines.
The department is home to the specialized Consumer Insights and Analytics program, which gives students access to a state-of-the-art analytics lab with sophisticated software tools and industry datasets.
Additionally, the department is home to the Marketing and Graphic Design major, the first program of its kind nationally, the Professional Sales major, added in fall 2019, and the largest major at LSBE, Marketing.
LSBE is embarking on the creation of a Professional Sales Center, with construction anticipated to begin in the summer of 2024.
The main goal of the Financial Markets program is to provide students with an educational experience that can be directly applied to the Financial Services Industry. With the support of the local financial community, LSBE students have the opportunity to directly apply learned ideas, theories, and tools. This intensive academic and experiential learning major allows them access to state-of-the-art technologies designed to replicate a real-world investment setting. There they make strategic investment decisions to manage a portfolio of more than $3.3 million.
The main goal of the Financial Planning program teaches students to utilize financial strategies and products to help individuals and families make prudent financial decisions. Students learn to carry a high-level view of their clients’ financial situations and take the steps necessary to meet objectives. They also are gaining the knowledge necessary to become a certified financial planner.
Consumer Insights & Analytics Program
The Consumer Insights & Analytics (CIA) program is designed to provide undergraduate students with the knowledge to transform consumer data related to buying behaviors into insights and actionable recommendations for organizations. Students learn to present their insights as solutions to business problems and have 24/7 access to a state-of-the-art analytics lab with sophisticated software tools and industry datasets.
Masters of Business Administration
As the only AACSB-accredited MBA program in the region, the Labovitz MBA is designed for current students or working professionals in the Duluth or Rochester area. A unique combination of flexibility and academic rigor allows the option to choose that best MBA program to meet specific needs.
The BBER has been in official existence since the 1970s, though it began with the Duluth Business Index in the early 1960s. The BBER has become a respected go-to resource for unbiased research and analyses, and directors have long been sought for media responses to current economic issues.
The BBER hires UMD students as undergraduate research assistants, who are trained in applied economics research and gain in-depth hands-on experience working on actual BBER projects. Several BBER students have gone on to graduate school or law school, and many others have pursued careers in research-based fields.
The Entrepreneurship major helps students develop core capabilities of idea generation, opportunity recognition, resource acquisition, and entrepreneurial management, which allows for the success of an organization. Students can organize or participate in annual student-run conferences and competitions.
Donor funds will be used to support an Entrepreneurship Center at LSBE. The first need is for an Entrepreneurship Center Director, but priorities may shift as directed by LSBE Associate Dean and Chair of the Management department that will house the Entrepreneurship Center.
Professional Sales Center
The Professional Sales major prepares students to build long-term customer relationships and meet top-line revenue and profit margin objectives by becoming effective listeners and problem solvers. Students can participate in mock sales role plays, compete in collegiate-level sales competitions, network with industry professionals, and participate in Sales Club activities.
Funds for Professional Sales will be used to establish a sales center at LSBE. The first need is for a sales center director, but priorities may shift as directed by LSBE Associate Dean and chair of the Marketing department that will house the Sales Center.
Marketing & Graphic Design (MGD) is a collaborative professional degree between LSBE and the Department of Art and Design within the UMD College of Arts, Humanities, and Social Sciences. The MGD major combines two high-demand skill sets into one major: marketing and graphic design. Students nurture and hone their design skills while gaining solid grounding in business and marketing. Students can network on campus with business professionals, join the MGD club, access state-of-the-art design technology, and participate in industry recognized competitions.