Minor in Business, Science and Entrepreneurship (ERMIN2017)

IMI Business Minor

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The Minor in Business, Science and Entrepreneurship (ERMIN2017) was created to provide UTM science students with the opportunity to learn business principles in an offering that recognizes business concepts with examples drawn from the sciences. It will provide students pursuing an Honours Bachelor of Science degree at UTM with fundamental business knowledge that will complement their science education and support their future success.

Those who are accepted into the minor will be exposed to more than one field of study (Fundamentals of Accounting, Human Resources, Marketing, Finance, Strategy, Operations), hence making themselves more marketable for endeavors they choose to pursue post undergraduate studies. Students will have two skill sets to utilize in the workplace as having a strong knowledge of a specific science discipline coupled with the fundamentals of business will allow students the opportunity to evaluate and make decisions while taking into account both the science as well as the business imperatives that typically drive these organizational decisions.

Frequently Asked Questions

What are the admission requirements for the Business Minor?

Students applying for admission to the Business Minor will need to have completed 4.0 credits, have applied for, or be enrolled in a Science Specialist or Major Subject POSt and have achieved a minimum grade of 63% in ECO100Y5 or must be taking course as a co-requisite while completing the Business Minor courses

 The Business Minor is a Type 3 Subject POSt program with a limited number of spaces (50) per year. As a result admission to the program will be based on applicants CGPA. Amongst the applicant pool, the 50 students with the highest CGPA will be offered admission.

Spots will also be reserved for students planning to complete ECO100Y5 in the summer of 2017 and apply for admission to the Minor during the second round of Subject POSt admissions.

If interested in being considered for the Business Minor, you must make your requests between March 12 - April 30 or June 10 – August 23. Those who plan to take summer courses in order to fulfill program admission requirements must also apply during this period. Students who are completing S or Y courses in Summer to fulfill program requirements will be refused during the first round and should put in a request again during the second request period (June 10 - August 23). See the Office of the Registrar Registration Guide OR Guide to Subject POSt selection for more information on program selection.

Once enrolled in the Minor in Business, Science and Entrepreneurship, students will be required to maintain enrolment in a Science Specialist or Major Subject POSt, otherwise they will be removed from the program.

How are the Business Minor courses different from other Business courses?

The courses offered by the Minor in Business, Science and Entrepreneurship will be distinct from the structure of current undergraduate Management course offerings.

The Commerce and Management programs have been designed to allow students to become subject matter experts and pursue professional careers in the fields of Accounting, Finance, Marketing, Human Resources or Management. The courses that make up these programs are building blocks that taken as a whole, provide a deep knowledge foundation for a career in the particular discipline.

On the other hand, the Business Minor has been designed for students whose primary focus is a science discipline, but who recognize that obtaining an understanding of the fundamentals of business, will provide them with a competitive advantage and distinguish them from other applicants for both summer jobs and after graduation.

In addition, the courses in the business minor are being structured so that they tie back to science oriented business scenarios. For example, an accounting course may involve analysis of resource statements of pharmaceutical or chemical companies. Similarly, a strategy course may involve the analysis of how companies have effectively introduced a new drug to the mass consumer market.

Are there deregulated fees associated with the Business Minor?

Students enrolled in the Business Minor will not be charged deregulated fees. Business Minor students will not have access to the variety of additional resources and support offered to students enrolled in the Commerce or Management programs at UTM.

What are the requirements for the Business Minor?

The Minor in Business, Science and Entrepreneurship will require students to complete the following 4.0 credits:            

  • ECO100Y5 Introduction to Economics – potentially in first/second year
  • IMI201H5 Fundamentals of Marketing– potentially in second/third year once accepted into the minor
  • IMI202H5 Principles of Human Resource Management – potentially in second/third year once accepted into the minor   
  • IMI203H5 Essentials of Accounting: Financial & Managerial – potentially in second/third year once accepted into the minor
  • IMI301H5 Essentials of Finance – potentially in third/fourth year once accepted into the minor
  • IMI302H5 Managing Projects, Operations & Preparing a Business Plan – potentially in third/fourth year once accepted into the minor
  • IMI303H5 Technology Strategy – potentially in third/fourth year once accepted into the minor

Although not required, it is strongly recommended that students complete the IMI2XX level courses before enrolling in the IMI3XX level courses.

Who will teach the courses?

Courses will be taught by Department of Management faculty. The course design process will be led by Department of Management faculty, with consultation and input from various Science faculty at UTM.

Will there be a co-op or internship component?

The Business Minor will not have a co-op or internship component.

Contact

Patrice Lee, Institute Administrator and Assistant
KN 2248
imi@utoronto.ca
905-569-4565