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Walter E. Heller College of Business Administration

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The College of Business offers the Master of Business Administration (MBA), Master of Science in Accounting (MSA), Master of Science in Information Systems (MSIS), Master of Science in International Business (MSIB), Master of Science in Human Resource Management (MSHRM), and Master of Science in Real Estate (MSRE). Other programs include a co-op program with Nottingham Trent University, Great Britain, work-study, and an internship in real estate. The strongest areas of study are accounting, international business, management, human resource management, and real estate. Regular programs bring distinguished speakers and visiting professors to campus.

Thirty-seven total credits are required to complete the MBA and 31 credits for all others. Required courses include:

  • Accounting for Executives
  • Economics for Decision Makers
  • Finance for Decision Makers
  • Information Resource Management
  • Quantitative Analysis for Decision Makers
  • The Functions of the Executive
  • Strategic Management
  • Marketing Strategies: Theory and Practice

Required courses for the MSIB include:

  • Graduate Business Orientation
  • Quantitative Analysis for Decision Makers
  • International Accounting
  • International Business: Environment Analysis
  • International Financial Analysis
  • International Marketing Analysis
  • International Leadership and Management
  • International Consulting
  • Strategic Management
  • One of the following:
  • The Economics of Development and Underdevelopment
  • International Trade, Multinational Corporations, and the Question
  • International Finance and Balance of Payments

Required courses for the MSIS include:

  • Graduate Business Orientation
  • Data Base Management
  • Accounting for Executives
  • Information Resource Management
  • Systems Analysis and Design
  • Introduction to Information Systems
  • Management of Information Systems
  • Quantitative Analysis for Decision Makers

Required courses for the MSA include:

  • Graduate Business Orientation
  • Managerial Accounting
  • Issues in Asset Valuation
  • Issues in Income Determination
  • Introduction to Information Systems
  • Accounting Information Systems
  • Accounting Theory and Policy

Required courses for the MSHRM include:

  • Graduate Business Orientation
  • Strategic Issues in Human Resources
  • Employee Staffing and Selection
  • Compensation Management
  • Seminar in Human Resources Management
  • Executive Leadership
  • Organizational Theory

Required courses for the MSRE include:

  • Graduate Business Orientation
  • Accounting for Executives
  • Finance for Decision Makers
  • Quantitative Analysis
  • Real Estate Process
  • Real Estate Finance and Investment Six to 9 semester hours of graduate course work may be transferred in with consent of department.

Business students may take relevant nonbusiness courses in other departments. The minimum time permitted to complete the master’s degree program attending full time is 1<1/2> years; maximum, 6 years. For students attending part time, the minimum is 2 years; maximum, 6 years.

There are 29 total full-time graduate business faculty, of whom 93% hold a doctorate; there are 40 part-time faculty, of whom 40% hold a doctorate. Faculty salaries are rated above average for Category IIA institutions, based on the AAUP rating system. Average number of courses faculty teach is 6; average business class size is 24.


A bachelor’s degree is required, along with a GPA of 2.8. The formula for using the GPA and GMAT scores is (200 x GPA) + GMAT, or minimum 950. Most important admissions factors are GMAT results, academic accomplishments and ability, and work experience. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 494; 331 were accepted; 206 enrolled. The average GPA was 3.21. Transfers are accepted. Minority students are actively recruited through minority graduate fairs.

Students may begin the MBA program in the fall, spring, and summer. To apply, students must submit an application form, a transcript, a nonrefundable application fee of $25, a resume, and a goal statement. The application deadlines are open. Students are notified within 2 to 4 weeks after receipt of application of the admissions decision. The latest acceptable test date for fall entry is August. Once accepted, students may defer admission The deferral should be used at student’s discretion.

Financial Aid

About 70% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $5635 annually; maximum $18,500. Stipends and programs are available for minority students on a limited basis. The FAFSA, the school’s own financial statement, and financial aid transcripts from prior schools are required. Check with the school for current deadlines.

Tuition for all students is $688 per credit. On-campus room and board costs approximately $10,400 Graduate student housing is available on campus and off campus.


Fourteen percent of the current graduate business school class are enrolled full time; 90% have had an average of 5 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from Illinois (92%). Fifty-eight percent are women, 32% are minorities, and 9% are foreign nationals. The average age at entrance is 28; ages range from 22 to 68. Five percent already have a graduate degree. Students’ undergraduate majors were as follows: 40%, business; 15%, liberal arts; 15%, math and science; 15%, social sciences; 10%, engineering; and 5%, economics. About 10% 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, 337 graduate business degrees were awarded.

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