Richard T. Farmer School of Business Administration

Miami University-Oxford, Richard T. Farmer School of Business Administration History

Miami University, founded in 1809, is a public, coeducational institution. The 1000-acre campus is located in a small town 35 miles north of Cincinnati. Total undergraduate and graduate enrollment is 20,126.

The Richard T. Farmer School of Business Administration was founded in 1948 and is located on the main campus. Courses also are offered at regional campuses in Hamilton and Middletown, Ohio. The basic educational approach is to provide a comprehensive cross-functional education that includes experiential training preparing our students for careers in a global economy, or for continued education. Depending on the department and the course, both theoretical- and case-method pedagogies are used.

Miami University-Oxford, 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.

Miami University-Oxford, Richard T. Farmer School of Business Administration Unique Programs

Library

Publications for the business school contained in the main library consist of more than 146,000 volumes, 6081 microform items, and 175 audio/video tapes/CDs, and subscribes to 3000 periodicals. The business library is particularly strong in marketing. Students have access to such databases and networks as a number of standard databases and networks. Other opportunities for research consist of access to Ohio State University libraries through interlibrary loan agreements.

Computers

Graduate business students must have their own PCs. The business school has its own computer facilities, consisting of 3 graduate student computer laboratories, 3 general laboratories, and a local area network. The graduate laboratories, with 6 terminals, are open 24 hours a day. The general laboratories, with 80 IBMs, are open 8 a.m. to 11 p.m. Available software includes Netscape, Office 2000, multimedia, Oracle, desktop publishing, and statistics programs.

Career and Job Placement

In spring 2006, 105 companies recruited on campus. Fifty percent were national corporations. Majors most in demand were MBA and Macc. Average starting salary of the graduating class was $52,300; range was $37,000 to $85,000. The percentage of graduates finding jobs were:

• national corporations 64%
• local small enterprises 31%
• govt 30%
• further ed 10%
• prof. sports 10%
• regional corporations 8%
• self-employment 8%
• local large enterprises 5%

Placement services are extensive. Placement services for alumni include a referral register, a job bulletin, professional staff advising/counseling, and a resource center. Placement is available through the university placement office. All of the most recent graduating class found jobs within three months of receiving their degree.

International Students

International students must take the TOEFL and the TWE. International students must score 550 on the Paper-Based TOEFL (PBT). They also must submit a translation of their transcripts, proof of health consisting of a recent tuberculosis skin test and evidence of immunization against rubeola/rubella (measles) and mumps (MMR), and proof of adequate funds to cover 1 year of study. Financial aid is available for these students and consists of graduate assistantships grant-in-aid programs, and scholarships per department. The application deadline for fall entry is February 1.

Calendar

The school operates on a traditional semester basis. Semesters are 16 weeks long; summer sessions, 5 weeks. Graduate programs are offered during the day and evening.

Miami University-Oxford, Richard T. Farmer School of Business Administration 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.

Miami University-Oxford, Richard T. Farmer School of Business Administration 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.

Miami University-Oxford, Richard T. Farmer School of Business Administration 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.