The Maine Business School offers the Master of Business Administration (MBA) and Master of Science in Accounting (MSAcc). Other programs include work-study, in which eligible students work with graduate faculty, foreign exchange with France (University of Angers), and internship programs. The strongest areas of study are finance and management. The most popular courses are Investment Management, Futures and Options Markets, and Management Policy. Regular programs bring distinguished speakers and visiting professors to campus. Typically in the summer, one visiting professor will teach one course.
Forty-eight total credits are required to complete the MBA, including 15 MBA; 9 MSA elective credits. Required courses include:
- Introduction to Accounting/Accelerated
- Introduction to Economics/Accelerated
- Behavioral Analysis for Administrative Decisions
- Financial Management
- Management Policy
- Business, Government, and Society
- Residency Week
- Internship or Organizational Consulting
- International Trip
- Decision Sciences for Operations
- Creating and Capturing Value in the Digital Economy
Required courses for the MSAcc include:
- Introduction to Financial Accounting
- Introduction to Management Accounting
- Intermediate Accounting I
- Intermediate Accounting II
- Cost Accounting
- Federal Taxation of Individuals
- Principles of Management and Organization
- Business Finance
- Advanced Accounting
- Tax Research and Taxation of Business Entities
- Accounting Theory/International Accounting
- Business Law for CPAs
- Behavioral Analysis for Business Decisions
- Advanced Auditing
Students may eliminate or substitute requirements by having foundation courses waived for equivalent courses completed at the undergraduate level or tutorials taken and passed before entering the program.
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 year; maximum, 6 years. For students attending part time, the minimum is 2 years; maximum, 6 years.
There are 19 total full-time graduate business faculty, of whom 95% hold a doctorate; there are 2 part-time faculty, of whom 50% 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 3; average business class size is 20.
A bachelor’s degree is required, along with a GPA of 3.0 and a GMAT score of 500. Most important admissions factors are academic accomplishments and ability, GMAT results, and work experience. A strong mathematics background is not required.
The number of applicants for the 2006-2007 class was 57; 38 were accepted; 22 enrolled. The average GPA was 3.36; average GMAT score was 568. Transfers are accepted.
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 $50, and 3 letters of recommendation. The application deadlines are July 15 for fall entry; November 15, spring; April 1, summer. Students are notified of the admissions decision within 2 weeks after all material is received. The latest acceptable test date for fall entry is June 25. Once accepted, students may defer admission for up to 1 year.
About 21% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $11,000 annually; maximum $25,000. Stipends and programs available for minority students include 2 Thurgood Marshall Scholarships. The FAFSA is required. Check with the school for current application deadlines.
Tuition for in-state residents is $296 per credit, or $6216 per year. Nonresidents pay $845 per credit, or $17,745 per year. On-campus room and board costs approximately $4299; books and supplies, $1800; and other fees, $644, for an estimated annual total of $12,959 for in-state residents and $24,488 for out-of-state residents. Graduate student housing consists of 1 dorm for graduate students. Students with a spouse or dependents can be in the University Park Apartments. There is a referral service to help procure off-campus housing.
Seventy-two percent of the current graduate business school class are enrolled full time; 53% have had an average of 7 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from Maine (73%). Thirty-eight percent are women, 3% are minorities, and 21% are foreign nationals. The average age at entrance is 30; ages range from 22 to 53. Thirty-six percent enter directly from undergraduate school; 14% already have a graduate degree. Students’ undergraduate majors were as follows: 37%, business; 31%, engineering; 18%, math and science; 15%, social sciences; 11%, new media, education, law, and fashion; 7%, liberal arts; and 6%, economics. About 4% of entering students leave by the end of the first year due to academic or personal reasons; 93% remain to receive their degree. In 2006, 32 graduate business degrees were awarded.