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Foster College of Business Administration

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The Foster College of Business Administration offers the Master of Business Administration (MBA), Executive Master of Business Administration (EMBA), and Master of Science in Accounting (MSA) as well as a joint degree in liberal arts and sciences (MBA/LAS) and industrial engineering (MBA/IE). Other programs include foreign exchange with France and a 3-2 degree in accounting. The strongest areas of study are economics and management. The most popular course is in management. Regular programs bring distinguished speakers and visiting professors to campus, including the McCord Lecture Series and the National City Bank/Robert T. Stevenson Jr. Lecturer series.

Thirty-two total credits are required to complete the MBA, including 9 elective credits. Required courses include:

  • Controllership
  • Microeconomics for Managers
  • U.S. Business Cycles in the International Economy
  • Management Theory
  • Marketing Decision Making
  • Business Policy and Strategy Formulation
  • Information Technology Management
  • Professional Development
  • Business Simulation
  • Financial Management

Required courses for the MSA ( 30 credits) include:

  • Financial Accounting Theory
  • Seminar in Management Accounting
  • Advanced Auditing
  • Accounting Information Systems
  • Federal Taxes II
  • Advanced Accounting II
  • Contemporary Issues in Accounting
  • Applied Professional Accounting Research
  • Controllership
  • Seminar in Tax Research

Students may eliminate or substitute requirements by transferring up to 9 hours of MBA courses taken at an AACSB-accredited institution.

The minimum time permitted to complete the master’s degree program attending full time is 1<1/2> years; maximum, 5 years. For students attending part time, the minimum is 2 years; maximum, 5 years.

In a recent year, there were 40 total full-time graduate business faculty, of whom 97% held a doctorate; there were 6 part-time faculty, of whom 33% held a doctorate. Faculty salaries are rated well above average for Category IIA institutions, based on the AAUP rating system. Average number of credit hours faculty teach is 9; average business class size is 30.


A bachelor’s degree is required, along with a GPA of 3.0 and a GMAT score of 500. The formula for using the GPA and GMAT scores is (200 x GPA) + GMAT. Most important admissions factors are letters of recommendation, GMAT results, and grades in upper-level courses. A strong mathematics background is required.

The number of applicants a recent class was 52; 31 were accepted; 18 enrolled. The average GMAT score was 578. Transfers are accepted. Minority students are actively recruited.

Students may begin the MBA program in the fall, spring, and summer. To apply, students must submit an application form, 2 transcripts, GMAT scores, a nonrefundable application fee of $40, 2 letters of recommendation, and a current resume. The application deadline is rolling for fall entry. Students are notified 4 to 6 weeks after all application materials are reviewed of the admissions decision.

Financial Aid

In a recent year, about 7% of graduate business school students received financial aid from scholarships, loans, and graduate assistantships, for a total average of $20,261 annually. Stipends and programs available for minority students include the Minority Graduate Scholarship and Assistantship programs. The FAFSA is required. Check with the school for current application deadlines.

Tuition for all students is $565 per credit. Graduate student housing consists of some on-campus housing and a university-owned student apartment complex 1 block from campus. There is a referral service to help procure off-campus housing.


Eighty percent of a recent graduate business school class had an average of 4 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students were from the Midwest (78%). Thirty-one percent were women, 7% were minorities, and 15% were foreign nationals. The average age at entrance was 31; ages ranged from 22 to 50. About 5% of entering students leave by the end of the first year due to academic or personal reasons; 95% remain to receive their degree. In a recent year, 30 graduate business degrees were awarded.

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