London Tower bridge

London Business Semester

About the Program

Named No. 23 out of 50 of the best study abroad programs across the nation, it’s no wonder that the St. Thomas London Business Semester (LBS) has been running for over 20 years. Build your network and become part of the legacy – over 1,000 LBS alumni strong. Combine theory with practice as you make London your living classroom. Site visits and excursions complement the topics covered in each course.
  • Earn up to 18 credits towards your degree. All students take Business 200 as well as Global Business in London, a 300-level business elective course integration London into your business studies. Curriculum includes: core business classes; COMM 370: Intercultural Communication and a core requirement in History or Art History.
  • Experience London and Great Britain first hand by living daily life in London. Learn about the history, customs, culture, economy, politics and life in the UK.
  • Create lifelong friendships with members of your cohort and become a part of our LBS alumni network.
  • Become a citizen of the world who understands other cultures and countries and is comfortable and confident being abroad.
  • View the LBS Program Brochure - Spring 2022 for a quick program overview.

*NEW!* In addition to the year-specific information below, view the London Business Semester Program Handbook for insights from past students, life in London, preparing to depart, packing and budget advice, and returning to the U.S.


Our Commitment to You  
The Office of Study Abroad and the University of St. Thomas continues to carefully monitor guidance related to COVID and local conditions at all program sites. We are carefully evaluating when to operate programs and how to ensure the safety of students, faculty, staff, and local communities. Review the University’s full statement on study abroad and COVID-19 on the Office of Study Abroad homepage.   

While the COVID-19 vaccine continues to be distributed, we anticipate travel may continue to look a bit different for some time. We will continue to evaluate both these and any new needed parameters as departure dates approach.   
For 2021-2022 St. Thomas Faculty-led Programs:  

  • the University’s Travel and Risk Assessment Committee (TRAC) will continue meeting regularly to review all university-related travel. This includes the COVID situation at destinations, and local, national, and international guidelines and requirements.   
    • If the environment around COVID-19 requires a re-evaluation of program viability, this decision will be made mid-June for fall semester programs and mid-September for spring semester 
    • If the University cancels a program due to COVID-19, you will not be held financially responsible for program costs for St. Thomas Faculty-led Programs.  
  • we are conducting careful, ongoing review of program itineraries to make the safest decisions possible regarding activities, spaces used, and transportation and accommodation arrangements.  
  • Considerations regarding independent travel and other student conduct expectations will be communicated to students.   
  • students must always adhere to St. Thomas policies. Do your part to help keep your group safe!  



To apply:

  • Attend one of the London Launch Sessions or a Small Group Advising Session.
  • Access to the online application for the London Business Semester will be granted following attendance of a London Launch Session or a small group advising session at the Office of Study Abroad. Access to the application will not be granted prior to these sessions. 
  • Priority application deadline: April 1, 2021
  • Final application deadline (space available): October 1, 2021

London Launch Sessions

Launch sessions are held prior to the application period, and attendance is required in order to apply for the program. The sessions are an opportunity for you to meet the faculty directors, hear from a LBS alum, learn about the program components, and ask questions about living, volunteering, and studying in London. If you are not able to attend a Launch session, you may attend a small group advising session or contact the Office of Study Abroad for other options.

London Launch Sessions:

Tuesday, March 9th, 12 – 1 pm,
         Zoom ID: 987 3890 8325
Thursday, March 11th, 12 – 1 pm,
         Zoom ID: 973 6599 9205

Small Group Advising Sessions:

Tuesday, April 20th, 12 - 1 pm
Wednesday, April 21st, 5:30 - 6:30 pm


  • Business major or minor
  • At least sophomore standing at the time of the program
  • Minimum cumulative GPA of 2.5
  • Good disciplinary standing, and
  • Complete a formal application and interview with Faculty Directors and Study Abroad Staff

Final acceptance will be made after an interview.

Note to Accepted Students:  All students accepted into the London Business Semester are required to attend all scheduled pre-departure meetings and orientation sessions. These meetings will take place during the semester prior to departure, dates will be sent with approval notifications.

Once accepted into the London Business Semester, you will need to sign a release for St. Thomas to obtain a criminal background check in order to be placed at your community service site in London (this is a legal requirement of the U.K.). The nature of some offenses may result in limits to the type of placement or restrict students altogether from obtaining a community service placement in London. Note that any reported offenses may be recorded onto your St. Thomas discipline record, and that serious offenses may result in disciplinary action by St. Thomas, including a determination that you are not eligible for Study Abroad programs.

Selection Process

  • Application review by faculty directors
  • Selected students are granted a personal interview. Interviews take place in April.
  • Final students will be selected after the interview.

The program is limited to 50 students.

Courses Offered - Spring 2022

Students are in courses only with other St. Thomas students. Students take at least 12 and up to 18 credits, plus BUSN 200. Courses listed below are subject to change.
All students take:
BUID 490: Global Business in London (4 credits); fulfills business elective credits
BUSN 200: Community Service – Each student will receive a placement in London.

Core business courses offered:
  • MKTG 200: Intro to Marketing (2 credits) 
  • FINC 310: Core Financial Management (2 credits) 
  • FINC 311: Advanced Financial Management (2 credits) 
  • MGMT 200: Working Skillfully in Organizations (2 credits) 
  • MGMT 383: Effective Teams (2 credits)
Additionally, students may select:
ARTH 355: Art of the Last Hundred Years (4 credits); fulfills St. Thomas fine arts core requirement
COMM 370: Intercultural Communication (4 credits) 
HIST 112: History of the Modern World Since 1500 (4 credits); fulfills St. Thomas history core requirement

Course Descriptions

Business Courses

MKTG 200: Intro to Marketing (2 semester credits)
Introduction to Marketing is designed to help undergraduate students gain a broad, foundational understanding of the basic components of modern marketing. The course will overview the formulation of a marketing strategy (segmentation, targeting, and positioning) and its implementation through the marketing mix (product, price, place, and promotion), tied to a thorough analysis of the marketplace. Prerequisites: BUSN100 
FINC 310: Core Financial Management (2 semester credits)
This course provides an introduction to the major concepts of financial management. The main topics covered include an introduction to financial management, time value of money, capital budgeting, cash flows and multinational financial management. Students learn to use calculators and spreadsheets in solving finance problems. Relevant ethical issues of financial management are discussed. Prerequisites: ACCT 100, STAT 220 or MATH 313 or STAT 314, ECON 251 or ECON 252. 
FINC 311: Advanced Financial Management (2 semester credits)
This course builds upon the major concepts of financial management delivered in the FINC 310 Core class. The topics covered include an overview of financial markets and institutions, valuation of bonds and stocks, risk & return, cost of capital and cash flow estimation. Students learn to use calculators and spreadsheets in solving finance problems. Relevant ethical issues of financial management are discussed. Prerequisites: FINC 310, ACCT 100, STAT 220 or MATH 313 or STAT 314, ECON 251 or 252. 
MGMT 200: Working Skillfully in Organizations (2 semester credits)
This course focuses on the knowledge and skills students need to successfully start their careers. This includes understanding that: organizations differ including having unique cultures which is important to consider when choosing an organization to work for; they are leaders and as leaders they need to take initiative and influence others; and, other individuals are different from them and adaptation to those differences is important. Skills developed include initiative, influence, decision making, and behavioral adaptation to be more a more effective team member and leader. Prerequisites: BUSN 100. 
MGMT 383: Effective Teams (2 semester credits)
Businesses use teams to get work done at all levels of the organization. This course examines when teams are the right choice (and when they are not), how to be an effective team member and leader, and how to diagnose and solve common team problems. Prerequisites: MGMT 200 or MGMT 305 and Sophomore standing. Note: Students who receive credit for MGMT 383 may not receive credit for MGMT 388
BUID 490: Global Business in London (4 semester credits) 

All Students Take 

BUID 3xx: Global Business in London (4 semester credits)
Course number and description coming

BUSN 200: Community Service (no academic credit): This experience is required of all business majors. The course follows the Statement of Purpose of the university to "develop morally responsible individuals who combine career competency . . .while fostering in the student a tradition of service to the public welfare." Students will develop an awareness of the challenges and responsibilities in meeting the diverse, changing needs of the community while experiencing personal growth and awareness. Students will choose from a variety of volunteer activities that follow the mission of St. Thomas and also afford them a unique experience in London. The course is graded S-D-R by the Director of Business 200 at St. Thomas.


Optional Core Courses 

ARTH 355: The Art of the Last Hundred Years (4 semester credits)
Over the last 100 years, there have been major changes in ideas about and attitudes toward art. The concept of what constitutes a painting or sculpture and the role of the artist and his relation to society have become major issues. Because of these changes, the path through modern art is sometimes bewildering to follow. In an attempt to clarify the situation, the class will look at movements and trends in 20th century art rather than make a detailed study of the work of individual artists. Includes frequent museum visits. Fulfills the St. Thomas core fine arts requirement.
COMM 370: Intercultural Communication (4 semester credits): Study of the influence of cultural values on social behavior; examination of theories of intercultural communication; emphasis on effective intercultural interaction. This course fulfills the Global Perspectives flag and Integration in the Humanities requirements in the core curriculum. 

HIST 112: History of the Modern World Since 1500 (4 semester credits)
Introduces students to historical reasoning. Students learn to analyze evidence from the past in context in order to explain how the past produced the ever-changing present. This course surveys the foundation and expansion of global networks from the sixteenth-century exploration to the contemporary world, and it examines the resulting breakthrough in communication and cultural exchanges between Europe and Africa, Asia, Latin America and the Middle East. Key aspects of the modern world are explored, such as state power and citizenship, economic systems and human labor, ideas about belonging and community, and the relationships and activities that constitute daily life.
Fulfills the St. Thomas core historical studies requirement.

The Spring 2022 Booklist will be announced soon 




PLEASE NOTE:  AIFS will allow you to send books directly to London in advance of your arrival:

<Student Name>
AIFS Student Centre
Taylor House
2 Elvaston Place
Kensington, London SW7 5QH

Alternatively, books may be purchased at Blackwell's or Waterstone's on arrival in the U.K.

St. Thomas' partner organization in London, the American Institute for Foreign Study (AIFS), coordinates the on-site logistics of the program.  AIFS staff members coordinate the student homestays, reserve classroom space, and make the community service placements, etc.

AIFS has office space and classrooms in a building called Taylor House which is in Kensington near Imperial College London.

Students' mail may be sent in care of AIFS at this address:

<Student Name>
AIFS Student Centre
Taylor House
2 Elvaston Place
Kensington, London SW7 5QH

Visit the AIFS site for more information.

Taylor House is in the Kensington district of London close to Hyde Park and the Imperial College Union.

The Imperial College Union contains many student amenities including several food options, events, clubs and activities, and workout space. 


London Business Semester students live in homestays with British families. The homestays are usually in North London, in the Crouch End and Muswell Hill areas, on the Northern and Piccadilly Tube lines. Students may end up living with a retired couple, a family with children, or a single person.

British homestay environments can be different from American ones. Some European home stays may treat students like boarders, rather than as members of the family. However, no homestay is a "typical" homestay, and students will find varying levels of interaction with their home stay hosts.

My homestay was in Muswell Hill, which is about 50 minutes from the city center by bus or tube. I lived with a host-mom, Meg, and the family dog in a three-story Victorian home with my roommate. We had our own room to share and our host-mom gave us each a cabinet and fridge space to store food in the kitchen. Meg was a school teacher, so we saw her mostly in the evening and on weekends. She usually would ask us how our days went and if we needed anything, which was nice because she made us feel like a part of the family. I enjoyed my homestay experience because it allowed me to see a different part of London I would not have been able to see if I had stayed in a dorm.   - Erin, past LBS participant

My roommate and I lived in Northern London in an area called Hampstead, about a block away from Hampstead Heath.  We lived with an older couple who were nice, had hosted many students over the years, and let us have our independence. We lived in a posh house, in a safe neighborhood, and were given our necessities. As college students who were living abroad for the first time, that’s all we really needed. Breakfast was left on the kitchen table for us in the mornings and we were able to come and go as we pleased. Now, I only look back at my time abroad with fond memories.   - Alex, past LBS participant

The homestay aspect of the program was something that I was very excited to experience along with all of the other adventures London offers. My homestay consisted of a British mom and her mother. Our host mom had kids, but they all lived outside the home. She gave us advice on how to get places, what things we should see, and was a good ‘second mom’. I had a great time at my homestay and recently went back to London, and I stopped in for a visit with my host mom. It was a positive experience and I feel that much more connected to London. - Mike, past LBS participant

Health and Insurance Forms

Instructions for logging on to the AIFS website to download appropriate medical and insurance forms will be provided during the spring semester. 
View information about the international health insurance provided by AIFS.

Helpful Links

*All dates subject to change

Pre-Departure Meetings
TBA - Fall 2021 semester
Spring 2022 Tentative Program Dates
January 31 Designated flight departs U.S.
February 1 Arrival in London
March 3 – 6 Scotland weekend
March 21 – 25 Mid-semester break*
April 15 - 18 Easter holiday
May 2 Bank holiday
May 15 Program ends, return to U.S.

*We recommend you do not make plans to travel during break until a later date as there may be new and different travel parameters leading up to spring 2022. Updated information will be provided prior to departure.

A suggested flight itinerary will be designated for travel to and from London for the London Business Semester. If you choose to travel on the designated itinerary you will be met at the airport and transported to the AIFS Centre. At the end of the semester transportation will also be provided to the airport.

Traveling on this itinerary is not required, however this is the only travel itinerary where transportation from the airport to the AIFS Centre will be provided. If you choose to find and book a different flight you may either:

  • Book a flight that will arrive BEFORE the designated flight that morning and wait for the group to arrive; you can then join the students traveling on the designated itinerary. NOTE: You will need a backup plan in case your flight is late since the group will not wait for your flight to arrive.
  • Make your own transportation arrangements from the airport to the AIFS Centre upon your arrival.
    AIFS Student Centre
    Taylor House
    2 Elvaston Place
    Kensington, London SW7 5QH
  • If you will not be traveling with the group, research how you will get from the airport to the AIFS Centre. Factor in the cost of ground transportation.

Note the program dates when booking your flight. Your homestay will not be available outside of the official program dates.

Spring 2022

Dr. Sergey Barabanov, Finance
Sergey S. Barabanov is an associate professor of finance. He teaches graduate and undergraduate investments, corporate finance, fixed income and financial management courses. He has also developed two “professor plus professional” courses, which professors teach alongside industry executives. His teaching innovation brings together academic knowledge with the latest hands-on investment experience for students. Barabanov has always been passionate about providing new opportunities for students and bringing the latest research findings to his courses. Barabanov’s current research focuses on institutional investors, corporate governance, information asymmetry, securities litigation, behavioral finance and socially responsible investing. Barabanov has served as a CFO, controller, chief accounting officer and a business consultant for several international firms and government agencies.

Dr. Mary Maloney, Management
Mary M. Maloney co-led the London Business Semester previously in 2017. She teaches courses in both the undergraduate business and MBA programs, and advises most students in the international business concentration. Mary also teaches custom Executive Education programs for several Minnesota businesses and has been nominated for the Julie Hays Teaching Award three times. Maloney’s research focuses on teams, specifically teams with members from different geographies, cultures, languages, and functions. Her research is published in the Academy of Management Annals, Journal of International Business Studies, Management International Review, Organization Science, Organizational Behavior and Human Decision Processes, and Small Group Research. Maloney loves learning about the world and has lived outside the U.S., mostly in Asia, for several years as a student, expatriate employee, backpacker, and professor. 

Costs are comparable to the St. Thomas comprehensive semester fee for tuition, room and board plus the off-campus study fee. Program fees include tuition, room, five breakfasts/week, and some site visits and excursions.

The majority of Financial Aid can be used for semester and academic year study abroad programs. Study Abroad scholarships are also available.

For the most up-to-date London Business Semester costs, and cancellation policy information, view the program cost page.