Undergraduate Global Studies Courses 2011-12

BMGT 448N: Doing Business in Nicaragua: Microfinance and Social Value Creation

Term Travel Dates: 1st Scheduled activity in Nicaragua: January 8, 2012
Last Scheduled activity in Nicaragua: January 18, 2012
Destination(s) Managua and surrounding areas, Nicaragua
Professor Susan White
Anticipated program fee $2650. This does not include airfare.
Application To apply, please click here

Latin America has seen impressive improvements and growth over the past ten years; today’s news presents a very different region than a decade ago; democracy is on the upswing and economies are pulling ahead, with an expected 4-5% general growth this year. One area of growth and poverty alleviation has been in microfinance, where lending organizations offer smaller payouts with little to no collateral required. Students in this class will examine real cases of microfinance and microlending by traveling to Nicaragua, a beautiful country often called the “Land of Lakes and Volcanoes”. Bordered on the west by the Pacific and the East by the Caribbean Ocean, Nicaragua offers many opportunities to explore the challenges and personal success stories associated with this branch of finance. We will be in the capitol city of Managua and surrounding areas for nine days, working with world-class organization Opportunity International. Students will work with local artisans, chefs, bakers and other entrepreneurs in Nicaragua, and act as consultants giving ideas and recommendations for building business.

Throughout the course, students will gain real-life understanding of microfinance; what has worked and what has not, and what benefits microloans can bring. We also expect that students will have the opportunity to meet with expatriates who have set up business operations in Nicaragua.

Cultural activities for the course will likely include dinner with Sergio Ramirez, well known Nicaraguan writer and former Vice President of Nicaragua, visits to two volcanoes – one active, one dormant, a pottery village and a potter’s home/studio, the National Palace of Culture and National Museum in Managua, the largest local market in Managua, zip lining, beaches and dancing are also possibilities. Additionally, students will have an opportunity to volunteer with a book mobile to a rural area elementary school.

This course is designed to help Smith School students obtain a real life learning experience where they will have the opportunity simultaneously to (1) use the knowledge gained in their undergraduate studies, (2) experience entrepreneurship and small business operations first hand and (3) potentially affect the lives of people in an international community.

The global immersion experiences are three-credit courses and typically meet degree requirements (advanced studies requirement of the University, BMGT major requirements, electives, etc,). Some courses may be eligible to fulfill major-specific requirements (confirm with your Smith School academic advisor. Students are expected to attend pre-departure meetings and complete the required readings prior to departure. The course has a comprehensive set of readings required of all participants regardless of course registration. Additional readings are assigned based on type of course registration. Mandatory pre-departure meetings will be scheduled.

The Center for International Business Education and Research (CIBER) is pleased to support this course.

The Winter 2012 program fee is $2650.

Included: UMD tuition, UMD $250 Education Abroad fee, lodging, 1-2 meals, any required cultural activities, likely travel within the country (to be announced).

Not included: personal expenses, most meals, trip insurance and international airfare.
Students are advised to purchase refundable tickets and travel insurance to counter any inconvenience caused by a change in the program's itinerary. Once admitted, you should expect to purchase the flight for the program a few weeks later, usually in mid-October.

Payment information

The program fee is divided into four separate charges that are applied to your account over the course of the fall semester:

  1. A non-refundable $50 application fee is due at the time of application.
  2. Upon admission, student account is charged a $250 non-refundable deposit. Applicants understand that if admitted to the program, they are responsible for paying this deposit, which is non-refundable under any circumstances.
  3. UMD $250 Study Abroad Fee.
  4. The remaining balance will be due upon registration.

All four charges add up to the published program fee.