News and Events National Business News U.S. planning to buy bank stocks Why GE's in trouble FDIC limit officially raised to $250,000 Quick Fact No. 26 LSBE's placement rate for Economics majors in 2003-2004 was 100% with an average salary of $40,000. One-hundred percent of the graduating majors were employed in Minnesota.

Academically & Professionally Qualified

Definitions of "Academically Qualified" and Professionally Qualified"

LSBE recognizes and adopts the definitions of Academically Qualified Faculty Members and Professionally Qualified Faculty Members as described in the AACSB Accreditation Standards. * In order to maintain their qualifications, however, faculty must augment their original academic preparation by subsequent activities that maintain the currency and relevance of their instruction.

Faculty members can maintain their academic qualifications through a variety of efforts including production of intellectual contributions, professional development activities, and current professional experience. In order to remain academically qualified, faculty members within LSBE must have achieved 2 refereed journal articles during the preceding 5 year period and have met the standards for Level 2 set forth in the annual merit review process for teaching during the preceding 5 year period. New academically qualified faculty will be considered to maintain their qualifications if they meet the standards established by the “rolling average” provisions of the annual merit review process.

Faculty hired because of their professional qualifications may often engage in different activities to maintain currency and relevance than academically qualified faculty members. In order to remain professionally qualified, faculty members within LSBE must have met the standards for Level 2 set forth in the annual merit review process for teaching and maintain active involvement in their profession. Such active involvement could include things such as continued consulting/work experience, active involvement in professional organizations, maintaining professional certifications, presenting at professional seminars, attending professional association meetings or conferences, or taking courses relevant to their area of teaching.

While the foregoing examples are not exhaustive, it is expected that most faculty will have multiple activities that evidence the maintenance of qualifications.

* These are found in the AACSB Standards, Section 3, Item 10.