International Business Programs

Smith Study Abroad Programs

Coordinated through the Center for Global Business, the Smith School offers full semester, summer, and faculty-led short courses through the study abroad program.

Undergraduate Level Courses

For students who began studying after 2015, the degree requirements and curriculum checklist can be found online.

In addition to the Smith School core curriculum, and one upper-level economics requirement, there are six required courses that comprise the International Business major. These courses are independent of one another and do not need to be taken in any particular order, although students generally begin with BMGT392 (an introduction and survey of international business) and end with BMGT466 (our capstone). In consultation with your academic advisor, the recommended four-year academic plan may be found online.

Smith International Business major course requirements (6 courses, 18 credits):

BMGT 392 Introduction to International Business Management (3 credits)
A study of the domestic and foreign environmental factors affecting the international operations of U.S. business firms. The course also covers the administrative aspects of international marketing, finance and management.

BMGT 454 Global Marketing (3 credits)
Marketing functions from the global executive's viewpoint, including coverage of global marketing policies relating to product adaptation, data collection and analysis, channels of distribution, pricing, communications and cost analysis. Consideration is given to the cultural, legal, financial and organizational aspects of global marketing.

BMGT 463 Cross-Cultural Challenges in Business (3 credits)
Examines in-depth the nature of international cultural value differences and their behavioral-related effects in the workplace. Topics include decision-making and leadership styles and reactions to various work assignments and reward structures.

BMGT 446 International Finance (3 credits)
Financial management from the perspective of the multinational corporation. Topics covered include the organization and functions of foreign exchange and international capital markets, international capital budgeting, financing foreign trade and designing a global financing strategy. Emphasis of the course is on how to manage exchange and political risks while maximizing benefits from global opportunity sets faced by the firm.

BMGT 477 International Supply Chain Management (3 credits)
Prerequisite: BMGT 372. The study of the importance of the supply chain management concept within an international arena. Coverage of the structure, service, pricing, and competitive relationships among international carriers and transport intermediaries, documentation, location decisions, international sourcing and distribution, and management of inventory throughout the international supply chain.

BMGT 466 Global Business Strategy (3 credits)
Focuses on the strategic challenges that directly result from and are associated with the globalization of industries and companies. Topics include drivers of industry globalization, difference between global and multi-domestic industries, global expansion strategies, sources of competitive advantage in a global context, and coordination of a company across a global network.

Sample of other electives:

BMGT 332 Operations Research for Management Decisions (3 credits)
Prerequisite: BMGT 230. Surveys the philosophy, techniques, and applications of operations research to managerial decision-making. The course is designed primarily for students not majoring in management science or statistics. Techniques covered include linear programming, transportation and assignment models, Markov processes, inventory and queuing models. Emphasis is placed on formulating and solving decision problems in the functional areas of management.

BMGT 370 Introduction to Transportation in the Supply Chain (3 credits)
An overview of transportation, with an emphasis on freight, from the perspective of both carriers and users. Explores the financial, economic, and government drivers of transportation. Develops the characteristics of the freight modes and examines their roles as major components of logistics and supply chain management.

BMGT 372 Introduction to Logistics and Supply Chain Management (3 credits)
The study of logistics and supply chain management involving the movement and storage of supplies, work-in-progress and finished goods. Logistics cost trade-offs within the firm and between members of the supply chain are examined.

BMGT 385 Operations Management (3 credits)
Studies the design, management and improvement of a firm's processes and systems for creation and delivery of products and services. Includes strategic and operational views of supply chain, product development, and capacity analysis, highlighting the competitive advantages that operations management can provide the firm.

BMGT 472 Purchasing and Inbound Logistics (3 credits)
Prerequisite: BMGT 372. Analysis of the operational aspects of logistics management, including purchasing policies, transportation planning, and inventory control. Attention is directed toward total logistics cost minimization and the establishment of a sustainable competitive advantage based on logistical activities.

BMGT 476 Technology Applications in Supply Chain Management (3 credits)
Prerequisite: BMGT 372. An understanding of the role of technology in managing the supply chain. Provides students with hands-on experience in advanced software systems that build on top of enterprise resource planning systems. Major emphasis is placed on demonstrating that these systems result in supply chain cost reductions and service improvements.

Adding a Second Major

Students must accumulate 120 credits to graduate with a baccalaureate degree from UMD. Along the way, by the time students have completed 60 credits they are expected to declare a major for their degree. Through careful selection of electives, and in close coordination with an academic advisor, some students will be able to also achieve a minor or possibly a second major.

Students who achieve additional academic credentials are able to distinguish themselves from their peers when competing in the job market. These achievements can open more doors, result in greater opportunities, and possibly other non-monetary rewards as well as higher salaries and starting bonuses. Before embarking on an aggressive plan with your academic advisor, students are also encouraged to consult with a career coach from the Office of Career Services.

Second Majors

“A student who wishes to complete a second major concurrently with his or her primary major of record must obtain written permission in advance from the appropriate departments or programs and colleges. As early as possible, but in no case later than one full academic year before the expected date of graduation, the student must file with the department or programs involved and with the appropriate deans, formal programs showing the courses to be offered to meet requirements in each of the majors and supporting areas as well as those of the college and general education programs. A student who wishes to add a Limited Enrollment Program as a second major must do so at the earliest possible opportunity to assure that specific credit and GPA requirements can be met. In order to obtain approval, students must complete all of the requirements specified for both the primary and secondary major. Courses taken for one major may be counted as appropriate as part of the degree requirements for the general education programs. If two colleges are involved in the double major program, the student must designate which college will be responsible for the maintenance of records and certification of general education requirements. Final approval of a double major program must be obtained from each of the appropriate departments and college(s).” This and additional UMD guidelines can be found online.

Second Degrees

Students who achieve a minimum of 150 undergraduate credits, may choose to apply for a second degree, of which at least 18 credits are unique to the first degree and not counted toward the second baccalaureate degree.

Students who are planning to exceed the minimum 120 credits necessary to graduate, should also consider whether transitioning into a business master’s program, while still an undergraduate, is right for them. Learn more about the Plus 1 Program.

Join the International Business Student Organization (IBSO)

You're invited join the 'International Business Student Organization' on GroupMe.

Apply for Scholarships

UMD National Scholarships Office. If you develop a strong academic record, are thoughtful about your choices and devote yourself to activities you care about, you may well find one or more scholarship opportunities of interest to you.

UMD Education Abroad Scholarships provide assistance to degree-seeking undergraduate and master’s UMD students with the cost of attending approved and credit-bearing study abroad programs.

#SmithGoesGlobal Fund was established to help reduce the out-of-pocket costs of study abroad such as airfare and personal expenses. The #SmithGoesGlobal Fund scholarship consists of three types of awards: flight scholarship; semester program scholarship; and short-term program scholarship. The application process is the same for all three.

Seek Internships

Data collected by the Office of Career Services shows an extremely high successful placement rate for graduates of Smith (>97%), but also a high correlation between placement and multiple internships, with some students achieving as many as three separate internships prior to graduation. This correlation suggests that not only are internships very important, but since they are predictive of future career opportunities, student internships must also be directed toward student interests.

Smith International Business majors may find rewarding internships in many areas, including:

• Multinational Corporations (for example: Marriott, Hilton, PepsiCo, Amazon, and Boeing)
• Foreign corporations with U.S. locations (for example: Airbus, British Petroleum and Credit Suisse)
• International Organizations (for example: IMF, World Bank, United Nations).
• U.S. Government Agencies (for example: State, Treasury, Commerce, Export Import Bank, Overseas Private Investment Corporation – OPIC, and USAID).
• Government; Political Organizations and Think-Tanks (for example: Brookings Institution, Council on Foreign Relations)
• Nonprofit Organizations (for example: Amnesty International, Human Rights Watch, etc.)

Internships provide a gateway to career opportunities and great way to accumulate job experience ahead of graduation. Other opportunities available through Smith include:

BMGT 373 Logistics, Transportation and Supply Chain Management Internship (3 credits)
Involves supervised work experience in supply chain management, logistics and/or transportation. Students will be expected to relate course material to work experience in an analysis of a firm’s operations.

Maryland Global Consulting Program
Offered through the Center for Global Business, this program provides student teams the opportunity to solve an international business challenge and gain real experience consulting for a local business.

Plus One (+1) Program

Start your master’s before you graduate by combining your bachelor’s and master’s course of study into one program. Save time and money. Learn more about the program.

Graduate Level Courses

Smith's graduate-level electives enable you to build a personalized portfolio of management knowledge and skills. In addition to acquiring expertise in one or more functional areas of business, you'll further develop your ability to analyze, synthesize, and communicate. Elective course content is both timeless — exploring theories that are the foundation for modern business practice — and timely, incorporating the "best practices" emerging from today's technology-powered global markets.

Electives in International Business

International business electives provide a broad look at issues global organizations face across the enterprise. Taught by faculty with extensive practical expertise, global research and consulting experiences, students will explore international marketing, finance, management, and organizational behavior strategies. Optional study abroad activities, including week-long study trips and semester exchange programs, provide an additional global business perspective.

BULM721 – Global Supply Chain Management – 2 credits
Offers a practical blueprint for understanding, building, implementing, and sustaining supply chains in today's rapidly changing global supply chain environment. It will provide the student with a survey of the fast-moving Supply Chain Management discipline and practice, including the evolution of supply chain strategies, business models and technologies; current best practices in demand and supply management; and methodologies for conducting supply chain-wide diagnostic assessments and formulating process improvement plans.

BUAC770 – International Taxation – 2 credits
An introduction to the theory and practice of international taxation. The objective of the course is to provide students with the basic tools to approach international tax topics from a US perspective. The course addresses the fundamentals of U.S. international taxation, but also offers insight into tax planning considerations. Both the U.S. activities of foreign taxpayers, as well as the foreign activities of U.S. taxpayers are explored.

BUFN770 / BUSI746 – International Investment – 2 credits
Addresses international stock markets, portfolio theory, international interest rates, exchange rates and exchange rate derivatives (options, forwards, and futures), exchange rate swaps and exchange rate exposure (operating, translation, and transaction), foreign investment strategy.

BUFN771 – International Corporate and Project Finance – 2 credits
Continuation of BUFN 770. Issues addressed will include capital budgeting, project financing, exchange rate exposure (operating, translation, and transaction), foreign investment strategy, and risk management.

BUMK753 – Global Marketing – 2 credits
The environmental, organizational, and financial aspects of global marketing are covered. It also describes the special marketing research, pricing, channels of distribution, product policy, and communication issues which face U.S. firms doing business in global markets.

BUMO754 / BUSI713 – Global Strategy – 2 credits
Focuses on the "strategic" and "organizational" questions that a company must address as it globalizes its footprint. Among the questions that will be addressed are: What are the potential benefits, costs, and risks associated with going abroad? What differentiates a "global" from a "multi-domestic" industry? What are the sources of competitive advantage in a global context?

Electives in Supply Chain Management

BUSI 672 - Global Supply Chain Management – 2 credits
Offers a practical blueprint for understanding, building, implementing, and sustaining supply chains in today's rapidly changing global supply chain environment. Provides a survey of the evolution of supply chain strategies, business models and technologies; current best practices in demand and supply management; and methodologies for conducting supply chain-wide diagnostic assessments and formulating process improvement plans.

BULM 733 - Global Trade Logistics – 2 credits
Acquaints students with managerial issues in international logistics and transportation, and provides students with an understanding of issues related to import/export management and the global marketplace.

BULM 742 – Global Supply Chain Resources Planning – 2 credits
Provides students with an overall understanding of how firms use an advanced supply chain planning (ASCP) application as an integral part of their materials management process which includes such activities as production planning, materials requirements planning, and distribution requirements planning. Students are given a lab-based, hands-on experience with the Oracle ASCP package. This functionality offers firms a holistic approach to planning that allows a company to optimize its operations with respect to specific, stated objectives. Students are also introduced to the analytical models underlying the ASCP system. To further broaden their experience, students are also exposed to the SAP system.

BULM 744 – Global Supply Chain Risk Management – 2 credits
Explores enterprise resilience from multiple perspectives: from the supply chain manager’s concerns about how to help the enterprise adapt to day-to-day uncertainties in operations, in demand & supply; to the network planner’s concern about how to ensure business continuity after low probability high impact events such as a terrorist attack or earthquake.

Career Opportunities

Successful careers with an International Business major begin with planning and preparation long before graduation day. Bottom line, graduates with a Smith IB majors enjoy a 97% placement rate and annual salary range between $50K to $85K. Average starting salary for the class of 2020 was $68,982 plus more than half of students reported some type of guaranteed bonus (signing, annual, etc.) with an average of $6,684. Total compensation for the majority of Smith IB majors exceeds $75K annually, on average.

According to the National Association of Colleges & Employers (NACE) the national average salary for business majors of all types was $53,912 in a 2019 survey. You can find additional information from NACE at their website.

The Smith program is designed to ensure our graduates attain and demonstrate the requisite core competencies that employers are looking for. As determined by NACE, these include: Career & Self-Development; Communication; Critical Thinking; Equity & Inclusion; Leadership; Professionalism; Teamwork; and Technology. Each of these core competencies includes specific sample behaviors that employers report to NACE that they are looking for in new hires. Find out more at iSmith.

To help prepare Smith students for their career search, all students are required to take BMGT367, Career Search Strategies, which introduces them to the full range of resources available from the Office of Career Services, which includes iSmith and access to the HireSmith portal, as well as traditional networking skills, interviewing, resumes, etc. as well as career coaching.

Graduates with a Smith IB major have found lucrative starting positions across the banking, consulting, and financial services industries. Many former students report their gateway to job placement included a successful internship, with some students reporting as many as three internships before graduation. A representative sample of companies who have hired graduates with Smith IB majors, and their job titles, drawn from the last three years, include the following:

After graduation, you will enter a local job market with that includes students from other area schools. Here’s what the competition has to say about their own international business programs:

What Can I Do with My International Business Major?

• Georgetown University
• George Washington University
• American University.

Beyond initial placement, many Smith IB majors go on to combine their baccalaureate degree with further education, whether that be a professional degree (such as law school), another field entirely, or a business master's. With a graduate degree, you will be qualified for positions within the international banking community, including The International Monetary Fund (IMF) headquartered in Washington, DC but with global opportunities, and The World Bank Group, which includes: The International Bank for Reconstruction and Development (IBRD); the International Development Agency (IDA); the International Finance Corporation (IFC); Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID).

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Salary data for Smith graduates is collected and maintained by the Office of Career Services, and includes the following historical information: