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Richard T. Farmer School of Business Administration

Academics

The Richard T. Farmer School of Business Administration offers the Master of Business Administration (MBA), Master of Accountancy (MAcc), and Master of Arts in Economics (MAEcon). Other programs include internship programs. Regular programs bring distinguished speakers and visiting professors to campus. The Executive Speaker Series offers the opportunity to hear business and government leaders address current topics. The MBA’s BUS 625 Graduate Business Seminar course includes classroom time, in addition to scheduled lectures with CEOs, and corporate executives as part of the course currriculum. The “Big Four” accounting firms also bring in distinguished speakers each year.

Fifty total credits are required to complete the MBA, including 50 elective credits. Required courses include:

  • Accounting
  • Economics
  • Managerial Finance
  • Marketing
  • Operations Management
  • Organizational Behavior
  • HR Management
  • Creativity
  • Project Management
  • Graduate Survey in Statistics
  • Quantitative Business Analysis
  • Negotiation/Conflict Management
  • Strategy
  • Business Skills Seminar
  • New Product/Service Design
  • Customer Acquisition
  • Internal Process Integration
  • Process Design and Improvement
  • Enabling Technologies l and ll
  • Graduate Business Seminar l and ll
  • Integrated Field Study l and ll
  • External Process Integration
  • Capital Acquisition
  • Managing Competition
  • Global Markets
  • International Field Study

Required courses for the Macc include:

  • Information for Business Valuation and Decisions
  • Taxation of Business Entities
  • Fraud Examinations
  • Assurance Services
  • Control of Accounting and Reporting Capstone
  • Integrative Accounting Capstone
  • Seminar in Managerial Skills
  • Analysis of Business Finance and Investments
  • Management of Information Technology
  • Information Technology Security and Audit

Required courses for the MAEcon include:

  • Advanced Microeconomic Theory
  • Topics in Macroeconomics
  • Quantitative Methods for Economics
  • Econometrics
  • Topics for Applied Econometrics
  • Applied Time Series Analysis
  • Graduate Research Methods

Business students may not take relevant nonbusiness courses in other departments for the MBA or the MAcc. They may take revelant nonbusiness courses in other departments for the MAEcon.

There are 109 total full-time graduate business faculty, of whom 97% hold a doctorate; there are 7 part-time faculty, of whom 86% hold a doctorate. Faculty salaries are rated below average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 5; average business class size is 19.

Admissions

A bachelor’s degree is required, along with a GPA of 2.75 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 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 171; 109 were accepted; 77 enrolled. The average GPA was 3.19; average GMAT score was 581. Transfers are not accepted. Minority students are actively recruited by participation in the National Society for Hispanic MBAs and coordination with Miami’s Graduate Director of Diversity Enhancement.

Students may begin the MBA program in the fall and summer. To apply, students must submit an application form, 2 transcripts, GMAT scores, a nonrefundable application fee of $35, 3 letters of recommendation, 3 essays, a personal statement, and a resume. Students are notified on a rolling basis or by April 1 of the admissions decision. Once accepted, students may defer admission up to 1 year. Check with the school for current application deadlines.

Financial Aid

About 80% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $3214 annually; maximum $36,000. Stipends and programs available for minority students include the Minority Access to Education and Diversity Enhancement Program. The FAFSA is required. The application deadlines are February 1 for fall entry; February 15, summer.

On-campus room and board costs approximately $3805; books and supplies, $530; personal expenses, $4355, for an estimated annual total of $13,420 for in-state residents and $18,709 for out-of-state residents. Graduate student housing consists of limited on-campus facilities, including furnished apartments. Most graduate students live off campus. There is a referral service to help procure off-campus housing.

Students

All of the current graduate business school class are enrolled full time. The greatest percentage of students are from Ohio (53%). Thirty-two percent are women, 7% are minorities, and 16% are foreign nationals. The average age at entrance is 24; ages range from 21 to 34. One percent already have a graduate degree. Students’ undergraduate majors were as follows: 66%, business; 24%, economics; 5%, math and science; 3%, social sciences; 1%, engineering; and 1%, liberal arts. About 20% of entering students leave by the end of the first year due to academic or personal reasons; 80% remain to receive their degree. In 2006, 56 graduate business degrees were awarded.

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