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Houghton, MI 49931
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School of Business and Economics

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The School of Business and Economics offers the Master of Science in Mineral Economics (MS). Other programs include work-study, internships with local firms, and joint research. The strongest area of study is mineral economics. The most popular courses are Environmental Economic Analysis, Economics of Nonfuel Minerals, and Energy Economics. Regular programs bring distinguished speakers and visiting professors to campus. About 6 distinguished visitors are on campus annually.

Forty-five total credits are required to complete the MS in Mineral Economics, including 15 elective credits. Required courses for the MS in Mineral Economics include:

  • Economics of Nonfuel Minerals
  • Energy Economics
  • Advanced Engineering Economics
  • Environmental Economic Analysis
  • Master’s Thesis (15 credits)

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 2 semesters; maximum, 12 semesters.

In a recent year, there are 29 total full-time graduate business faculty, of whom 93% held a doctorate. Faculty salaries are rated average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 5; average business class size is 22.


A bachelor’s degree is required, along with a GPA of 2.7 and a GMAT score of 470. Most important admissions factors are academic accomplishments and ability, GMAT results, and letters of recommendation. A strong mathematics background is required.

The number of applicants for a recent class was 65; 52 were accepted; 33 enrolled. The average GPA was 3.2; average GMAT score was 575. Transfers are accepted.

Students may begin the MBA program in the fall, spring, and summer. To apply, students must submit an application form, a transcript, GMAT or GRE scores, a nonrefundable application fee of $30 (free on-line), and 3 letters of recommendation. Check with the school for current application deadlines. Students are notified 1 month after materials are received of the admissions decision. The latest acceptable test date for fall entry is July. Once accepted, students may defer admission to any semester they choose.

Financial Aid

In a recent year, about 20% of graduate business school students received financial aid from scholarships, loans, and graduate assistantships, for a total average of $18,400 annually; maximum $20,600. Check with the school for current application details.

Tuition for all students is $9364 per year. On-campus room and board costs approximately $12,000; books and supplies, $1000; personal expenses, $1000; and other fees, $950, for an estimated annual total of $24,314. Graduate student housing is available on and off campus. There is a referral service to help procure off-campus housing.


All of a recent graduate business school class were enrolled full time; 50% had full-time work experience prior to entering graduate school, a factor preferred by the school. Forty-two percent were women and 25% were foreign nationals. The average age at entrance was 24; ages ranged from 24 to 40. Fifty percent entered directly from undergraduate school; 8% already had a graduate degree. Students’ undergraduate majors were as follows: 25%, business; 25%, economics; 25%, engineering; and 25%, math and science. About 10% of entering students leave by the end of the first year due to academic or personal reasons; 90% remain to receive their degree. In a recent year, 2 graduate business degrees were awarded.

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