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Master of Business Administration (MBA)

In general, M.B.A programs are structured around core courses (an essentially standard curriculum) and elective courses that (may) allow for a subject specialty or concentration. Thus, in the program’s first year (or part), students acquire both a working knowledge of management functions and the analytical skills required for these, while in the second year (part), students pursue elective courses, which may count towards a specialization. (Topics in business ethics may be included at the generalist or specialist level.)

After the first year, many full-time students seek internships. The degree culminates with coursework in business strategy, the program capstone. A dissertation or major project is usually a degree requirement after the completion of coursework. Many M.B.A programs end with a comprehensive exit examination. For Executive M.B.A programs, the core curriculum is generally similar, but may seek to leverage the strengths associated with the more seasoned and professional profile of the student body, emphasizing leadership, and drawing more from the specific experience of the individual students.

Programs are designed such that students gain exposure to theory and practice alike. Courses include lectures, case studies, and team projects; the mix though, will differ by school and by format. Theory is covered in the classroom setting by academic faculty, and is reinforced through the case method, placing the student in the role of the decision maker. In many programs, applicants with appropriate background may be exempt from several of the analytical courses.

Similar to real world business situations, cases include both constraints and incomplete information. Practical learning (field immersion) often comprises consulting projects with real clients, and is generally undertaken in teams (or “syndicates”). The practical elements (as well as the case studies) often involve external practitioners—sometimes business executives—supporting the teaching from academic faculty. Operations Research and statistics are sometimes combined as “Managerial Decision-Making” or “Quantitative Decision-Making”; organizational behaviour and human resource management may similarly be combined.

The analytic skills required for management are usually covered initially. The accounting course(s) may treat financial and management accounting separately or in one hybrid course. Financial accounting deals mainly in the preparation of financial statements while management accounting deals mainly in analysis of internal results. Managerial economics is a technical course that mainly focuses on product pricing as influenced by many micro-economic theories and principals, while the aggregate or macro-economic course deals with topics like the banking system, the money supply, and inflation.