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School of Business

Academics

The School of Business offers the Master of Business Administration (MBA) and Master of Science in Accounting (MSA) as well as joint degrees in accounting (MBA/MSA), nursing (MBA/MSN), law (MBA/JD), and health policy and management (MBA/MS in HPM). Other programs include a foreign exchange program, a 3-2 degree with the University of Southern Maine, cooperative programs with the Portland business community, and internships. The strongest areas of study are finance, management, marketing, and accounting. The most popular courses are finance, management, and marketing.

Thirty-nine total credits are required to complete the MBA, including 9 elective credits. Required courses include:

  • Ethical and Legal Issues in Business
  • Management Accounting Systems
  • Finance
  • Introduction to Organizational Change
  • Managerial MarketingorConsumer Behavior
  • Production/Operations Management
  • Information Systems Management
  • Management
  • Practicum

Required courses for the MSA include:

  • Current Issues and Developments in Accounting
  • Financial Statement Reporting and Theory
  • Professional Responsibilities and Conduct
  • Introduction to Organizational Change
  • International Finance

Students may eliminate or substitute requirements if they have completed foundation courses in economics, accounting, probability/statistics, operations analysis, computer application skills, finance, management, and marketing.

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 19 total full-time graduate business faculty, all of whom hold a doctorate; there are 2 part-time faculty, 1 of whom holds a doctorate. Faculty salaries are rated average for Category IIA institutions, based on the AAUP rating system. Average number of credit hours faculty teach is 18; average business class size is 16.

Admissions

A bachelor’s degree is required, along with a GMAT score of 500. The formula for using the GPA and GMAT scores is (200 x GPA) + GMAT, or minimum 1100. Most important admissions factors are academic accomplishments and ability, GMAT results, and quality of undergraduate school. A strong mathematics background is required.

Transfers are accepted.

Students may begin the MBA program in the fall and spring. To apply, students must submit an application form, 2 transcripts, GMAT scores (GRE may be substituted), a nonrefundable application fee of $50, 3 letters of recommendation, and a resume. Check with the school for current application deadlines. Students are notified of the admissions decision within 2 weeks. The latest acceptable test date for fall entry is August. Once accepted, students may defer admission, which requires that a written request be received prior to the semester in which the student has been admitted.

Financial Aid

The FAFSA, the school’s own financial statement, the previous year’s tax return, and financial aid histories from previous schools attended are required. Check with school for current application deadlines.

Tuition for in-state residents is $270 per credit. Nonresidents pay $754 per credit. On-campus room and board costs approximately $7000. Graduate student housing consists of 1 hall available for international and graduate students.

Students

Twenty-two percent of a recent graduate business school class were enrolled full time; 98% have had an average of 5 to 6 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 (92%). Thirty-seven percent are women, 2% are minorities, and 2% are foreign nationals. The average age at entrance is 31; ages range from 23 to 47. Sixteen percent enter directly from undergraduate school; 3% already have a graduate degree. Students’ undergraduate majors were as follows: 39%, business; 16%, math and science; 16%, social sciences; 13%, economics; and 10%, liberal arts. About 5% of entering students leave by the end of the first year due to academic or personal reasons; 50% remain to receive their degree. In a recent year, 25 graduate business degrees were awarded.

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