School of Management, University of Alaska Fairbanks in Fairbanks, AK - University of Alaska Fairbanks in Fairbanks, AK

Academics

The SOM offers the Master of Business Administration (MBA) and Master of Science in Resource Economics (MS) as well as a doctoral program in education and business. Other programs include interdisciplinary study in education and business, foreign exchange with 1 country, and for-credit internships as well as internships through the Permanent Fund Internship Program and the International Tourism Program. The strongest areas of study are finance and resource economics. The most popular course is Investment Fund.

Thirty total credits are required to complete the MBA, including 12 elective credits. Required courses include:

Management Accounting Seminar
Seminar in Finance
Seminar in Marketing
Production and Operations Management
Human Resources Management
Advanced Topics in Business
Corporate Strategy
Practical Quantitative Methods

Required courses for the MS in Resource Economics include:

Microeconomic Theory I
Macroeconomic Theory
Mathematical Economics
Econometrics
Resource Economics
Microeconomic Theory II
Seminar in Research Methodology

Students may eliminate or substitute requirements by having taken certain undergraduate business courses.

Business students may take relevant nonbusiness courses in other departments. The minimum time permitted to complete the master’s degree program attending full time or part time is 1 year; maximum, 7 years.

There are 24 total full-time graduate business faculty, of whom 79% hold a doctorate; there are 2 part-time faculty, all of whom hold a doctorate. Faculty salaries are rated well below average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 4; average business class size is 6.

Admissions

A bachelor’s degree is required, along with a GPA of 3.0. Most important admissions factors are GMAT results, grades in upper-level courses, and quality of undergraduate school. A strong mathematics background is required.

The number of applicants for a recent class was 30; 13 were accepted; 10 enrolled. Transfers are accepted. Minority students are actively recruited.

Students may begin the MBA program in the fall and spring. To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee, 3 letters of recommendation, a statement of academic goals, and a resume/vitae. Students are notified of the admissions decision after required credentials are received. Once accepted, students may defer admission. Check with the school for current application deadlines and fees.

Financial Aid

In a recent year, about 43% of graduate business school students received financial aid from scholarships, loans, and graduate assistantships, for a total average of $4845 annually. The FAFSA and the school’s own financial statement are required. Check with the school for current application deadlines.

Tuition for in-state residents is approximately $4200 per year. Nonresidents pay approximately $8300 per year. On-campus room and board costs approximately $5500; books and supplies, $800; personal expenses, $2300; and other fees, $1200, for an estimated annual total of $14,000 for in-state residents and $18,000 for out-of-state residents. Graduate student housing consists of on-campus residence halls and married-student housing and off-campus 1- and 2-bedroom apartments.

Students

Fifty-five percent of a recent graduate business school class were enrolled full time; 80% had an average of 9 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students were from Alaska (64%). Fifty percent were women, 24% were minorities, and 17% were foreign nationals. The average age at entrance was 30; ages ranged from 22 to 63. Students’ undergraduate majors were as follows: 53%, business; 14%, math and science; 12%, engineering; 12%, liberal arts; 4%, economics; and 4%, social sciences. About 27% of entering students leave by the end of the first year due to academic or personal reasons; 70% remain to receive their degree. In a recent year, 18 graduate business degrees were awarded.