Anthony, Anika Evans, Kevin; Reed, Katie Carpenter, Thomas

From: Anthony, Anika To: Evans, Kevin; Reed, Katie Cc: Carpenter, Thomas J. Subject: BUS_MBA_STEM Specialization Date: Wednesday, December 9, 2020 8:03:16 AM Attachments: BUS_MBA_STEM_Specialization.docx
Revision of MBA Request for STEM Designation.docx
Dear Kevin and Katie, Attached are materials for the proposal to develop a new Graduate Specialization for STEM- Designation in the Master of Business Administration program in the Fisher College of Business. The proposal is to develop a STEM specialization within the Full-Time Master of Business Administration (MBA) program. In offering the specialization, the Fisher College of Business seeks to join other top-tier U.S. business schools that have been approved to offer a STEM-designated MBA. The Fisher Full-Time MBA curriculum consists of 60 credit hours. The College is proposing that students enrolled in the STEM specialization will complete 33 credit hours of core MBA requirements that include courses on management, marketing, and strategy. The core MBA curriculum also includes courses on data analytics, finance, and economics, which are intended to provide students a foundation for the specialization’s advanced STEM electives. Students in the STEM specialization would also enroll in an additional 27 credit hours of electives, 12 hours of which must be selected from a list of STEM-approved courses. The STEM electives include coursework on statistical modeling, financial modeling, and other quantitative topics. Students will also have an opportunity to take STEM electives outside of the Fisher College of Business. Pending approval of the STEM specialization, the Fisher College of Business will work with the Office of International Affairs to seek U.S. Department of Homeland Security approval for the program to be classified as a STEM- designated program. Please let me know if you need any additional information in order to add this proposal to an upcoming CAA meeting agenda. Sincerely, Anika Anika Anthony, PhD Associate Dean of Academic Affairs Associate Professor, Department of Educational Studies The Ohio State University Graduate School 250E University Hall, 230 North Oval Mall, Columbus, OH 43210 Phone: (614) 247-2083 [email protected] https://gradsch.osu.edu/
FROM: Anika Anthony, Associate Dean of Academic Affairs, Graduate School
DATE: December 9, 2020
RE: Proposal to Develop a Graduate Specialization, Master of Business Administration, Fisher College of Business
The Fisher College of Business is proposing to develop a new graduate specialization in STEM within the existing Master of Business Administration.
The proposal was received by the Graduate School on October 16, 2020. The combined GS/CAA subcommittee reviewed the proposal on October 28, 2020 and requested revisions. Revisions were received on November 17, 2020. On November 24, 2020, GS/CAA reviewed the revised proposal and recommended it for approval by the Graduate Council. The proposal was approved by the Graduate Council on December 8, 2020.
Associate Dean’s Office
614-688-2129 Phone fisher.osu.edu
17 November 2020
The Ohio State University
Dear Associate Dean Anthony:
Herein please find a revision of the Fisher College’s request for approval for a STEM-designated specialization within its Full-Time MBA program.
In this letter, I would like to walk you through our responses to the comments, questions, and concerns from the GS/CAA’s curricular subcommittee, which reviewed the initial proposal.
Our responses appear in bold lettering so that they will be easier to track.
1. Additional information about the STEM emphasis
0. Will students in the program be expected to have a background in STEM (e.g., prior degree, coursework, and/or professional experience)? No, students need not have a STEM background in order to pursue the STEM MBA. The program’s core coursework, which consists of data analytics, finance, and economics, to name a few, provides a rigorous foundation for students who elect the STEM MBA. After completing the core, STEM MBA students are well-prepared to complete the more advanced electives in such areas as statistical modeling, financial modeling, and other quantitative topics. We clarify this under Point 5 in the revised proposal, Plans to Enroll Students and Prospective Enrollment.
0. Concerning the list of required STEM electives, the subcommittee observed that the only prerequisites noted in the short syllabi are other courses in the Fisher College of Business. Are there STEM-specific prerequisites that students must meet in order to take the STEM-focused courses (e.g., calculus, statistics, etc.)? Because the MBA core provides STEM MBA students with the preparation that they need to complete the STEM-relevant elective courses, there are no other pre-requisites. This clarification also appears in the revised language under Point 5, Plans to Enroll Students and Prospective Enrollment.
0. Will students have the opportunity to enroll in STEM courses offered across campus to meet program requirements (either STEM-designated or additional electives)? At this time, with their advisor’s approval, MBA students may take up to 9 hours of electives outside the Fisher College. We have revised the proposal (see Point 2, Proposed Curriculum) to reflect the idea that completing STEM-approved electives outside of the Fisher College will count toward the 12 hour minimum associated with the STEM MBA.
0. What is the overlap between the STEM MBA and the three other STEM-designated programs offered through the Fisher College of Business? If there are STEM courses that overlap across the four STEM programs, which courses overlap? Students in the STEM-designated specialized Master programs do not take the MBA core curriculum. There is, however, some overlap in terms of the electives that STEM MBA students would be eligible to take and the core and elective courses that students in the specialized Master programs may take. We have prepared a table that shows the courses in the STEM MBA that may be completed by students in other Fisher College STEM-designated programs.
STEM MBA Elective Courses
Specialized Masters in Finance
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
MGT 7242: Six Sigma Principles (3.0)
MGT 7256: Tools for Data Analysis (1.5)
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
M&L 7204.01: Customer Management, Pricing, and Analytics I (1.5)
X
M&L 7204.02: Customer Management, Pricing, and Analytics II (1.5)
X
X
BUS FIN 5402: Real Estate Valuation (3)
X
2. Transition Plan
0. Concerning plans to enroll students and the transition plan (p. 6), I believe the Fisher GPO will notify OIA (instead of OAA) and the Graduate School about which students have elected the STEM MBA. Please confirm whether OIA or OAA will be notified and edit if necessary. Yes, we will be notifying OIA and we have changed this in the document.
0. By what point in a student’s program must they declare interest in switching to or from the STEM MBA program? Will there be a petition process for students who do not transfer to/from the STEM MBA program by a given point in time? Upon matriculation, MBA students will be asked to identify whether or not they will be pursuing the STEM MBA. We do not expect many students to request to be transferred or switched later (i.e., no more than five per year). Students requesting a switch will inform their STEM MBA advisor who will contact Graduate Registration Services to request the switch. This process will be performed manually. This is explained under Point 6 of the revision, Transition Plan for Currently Enrolled MBA Students.
3. Assessment Plan
0. The proposal indicates that the assessment plan for the STEM MBA program will not differ from the assessment plan for the Full-Time MBA. The subcommittee recommends that an assessment plan be added that aligns with the goals of the STEM specialization, indicates how progress to the goals will be monitored, and describes how the program will respond to assessment data. The following kinds of program assessment components could be included in the plan for a program of this type – you may already be collecting information of this kind.
0. Indirect Measures, including: Number of applications to the program, Quality of the applicant pool (cGPA, diversity), Admissions to the program (% admitted, % matriculated), Student surveys (program satisfaction during enrollment), Student evaluations of instruction (Course satisfaction), Retention rates, Graduation rates, Cumulative student GPAs, Time-to-Certificate, Exit surveys at graduation, Alumni surveys (applicable employment, use of degree). For its Full-Time MBA program, the Fisher College collects and tracks, year-to-year, all the information that you mentioned. As reported in Point 8 of the revised proposal under the heading, Assessment Plan, we plan on doing the same for STEM MBA.
0. Direct Measures, including: Specific student evaluations to assess attainment of each competency, e.g. proportion of students exceeding and meeting expectations associated with each of the competencies (this can be collected as a set of numbers that can be compared over years of the program to measure student success and make targeted changes to increase it), cumulative course performance. Also under Point 8, we have provided details about the direct measures that the Fisher College uses to assess Full-Time MBA student learning goal attainment. We also report on the development of new learning goals and measures for students in the STEM MBA specialization.
4. Student Impact
0. The proposal indicates that the STEM-designated specialization will not impact students’ expected time to degree. How will the program monitor student progress, ensuring that students’ time to degree has not been impacted (e.g., data collected and monitored by a program coordinator or advisor)? Under Point 9 of the revised proposal, Monitoring Student Progress, we note that advisors in the Fisher College’s GPO track the progress of all its graduate students. At present, the retention rate for the Full-Time MBA, which includes students that take STEM-laden coursework, is extremely high (i.e., we usually lose zero students per year and rarely more than one). To ensure that coursework is completed, an advisor will work closely with the STEM MBA student just as they would any other traditional Full Time MBA student. A degree audit report system tool will also be used to track progress toward STEM MBA completion. Any STEM MBA student who fails to complete the requirements will not have the STEM designation listed upon completion of the degree. Prior to commencement, the GPO advisor will notify the Graduate School of this.
Please let us know if we can supply additional information about the Fisher College’s plans for the STEM MBA.
Sincerely,
Associate Dean for Graduate Programs and Irving Abramowitz Memorial Professor
17 November 2020
Dear Vice-Provost Smith:
The Fisher College of Business respectfully requests approval for a new, STEM-designated specialization within its Full-Time MBA program.
The desired title of the new specialization is: STEM MBA, and the classification that would be appropriate is 52.1301 Management Science: a general program that focuses on the application of statistical modeling, warehousing, data mining, programming, forecasting and operations research techniques to the analysis of problems of business organization and performance. Includes instruction in optimization theory and mathematical techniques, data mining, data warehousing, stochastic and dynamic modeling, operations analysis, and the design and testing of prototype systems and evaluation models.
The documentation accompanying this letter include:
1. A letter documenting approval for the proposal from Dean Anil Makhija.
2. A letter documenting approval for the proposal from the Fisher College’s MBA Policy Committee.
3. The proposal itself. The proposal includes an Appendix consisting of short-form syllabi for the program’s STEM-relevant core and elective coursework.
Sincerely,
Office of the Dean 201 Fisher Hall 2100 Neil Avenue Columbus, OH 43210-1144
614-292-2666 Phone 614-292-7999 Fax fisher.osu.edu
November 16, 2020
Dear Randy:
Our MBA Policy Committee and Associate Dean for Graduate Programs, Ben Tepper, has endorsed a proposal to create a STEM specialization for the Fisher College’s Full-Time MBA Program. I also support this initiative.
By adding such a specialization to our MBA program, the Fisher College will be joining virtually all top-tier business schools, which have already approved and deployed STEM-designated MBA programming. As the proposal makes clear, our international and domestic MBA students will benefit by having this option made available to them.
Please accept my deepest thanks for considering this proposal and shepherding it through the levels of review in the OAA and in the Graduate School.
Sincerely,
Proposal for a STEM MBA Specialization within
the Fisher College’s Full-Time MBA Program
1. Rationale for the STEM MBA Specialization. The Fisher Full-Time MBA program recruits against peer and aspirant business schools and, within the last three years, not having the STEM designation has left Fisher at a serious recruiting disadvantage. Relatedly, the absence of a STEM specialization has left many of our recent MBA graduates at a disadvantage in the job market. International graduates of U.S. business schools (who do not earn a STEM-designated degree) are permitted to complete optional practical training (OPT) in the U.S. for only 12 months before they must secure an H1-B visa. In 2016, the federal government launched the STEM Designated Degree Program, under which international graduates are permitted to remain in the U.S. for an additional two years of OPT. In other words, students who have earned a STEM-designated master’s degree may complete their optional practical training in the U.S. for three years without an H1-B visa. Domestic students are also impacted in that STEM jobs generally yield higher wages than non-STEM jobs and the U.S. Bureau of Labor Statistics projects that, over the next 25 years, the demand for STEM-designated degrees will grow at a faster rate than will demand for non-STEM degrees. This explains why in just the last few years virtually all the leading business schools, as well as others, have secured a STEM designation for their entire MBA program (e.g., Stanford, Chicago, MIT, Columbia, Berkeley, NYU, Carnegie Mellon, Arizona State, Georgia, Washington University, UC Davis, UC Irvine) or for a specialization in their Full-Time MBA (e.g., Harvard, Wharton, Northwestern, Dartmouth, Yale, Michigan, Georgetown, Cornell, North Carolina, Purdue, Indiana, Vanderbilt, Johns Hopkins, Case Western, Wisconsin).[footnoteRef:1] Making a STEM designated specialization available to the Fisher College’s Full-Time MBA students will put them on a competitive employment footing with the alums of other highly ranked MBA programs. [1: For further details about this trend, see the following article in Poets and Quants: https://poetsandquants.com/2020/04/20/all-the-stem-programs-at-major-u-s-business-schools/]
2. Proposed Curriculum: The Fisher Full-Time MBA curriculum consists of 60 credit hours. There are 33 hours of required instruction that includes 25.5 hours of core coursework and 7.5 hours of experiential project-based instruction. The other 27 credit hours are elective options. Nine of the 27 elective hours may be taken outside of the Fisher College of Business. At this time, there are no formally recognized specializations within the Full-Time MBA. In other words, all students are enrolled in the same “plan.”
The 33 hours of required instruction for all Full-Time MBA students consists of:
· MBA 6203: Organizational Behavior and Leadership (3)
· MBA 6211: Accounting for Decision Making (3)*
· MBA 6223: Finance (3)*
· MBA 6243: Organizations, Markets, & Management (3)*
· MBA 6253: Marketing (3)
· MBA 6292: Business Lab Challenge (3)*
· MBA 6293: Strategy Formulation and Implementation (3)
· MBA 6295: Social Impact Challenge (3)
· MBA 6296: Max Problem Solving (1.5)
Six of these courses, comprising 18 credit hours and denoted above with an asterisk, emphasize STEM content: MBA 6211 Accounting for Decision Making, MBA 6223 Finance, MBA 6233 Operations Management, MBA 6243 Organizations Markets & Management, MBA 6273 Data Analysis for Managers, and MBA 6292 Business Lab Challenge. Students will satisfy the requirements for the STEM MBA by completing an additional 12 hours of elective coursework that emphasizes STEM content. In total, then, students in the STEM MBA would complete at least 30 hours of STEM coursework (of the 60 hours required for the degree). Listed below are the elective courses that are offered by the Fisher College and from which STEM MBA students would need to select a minimum of 12 credit hours. Appendix A shows the short-form syllabi for the core and elective courses that emphasize STEM content.
Elective Coursework from which STEM MBA Students Will Select 12 Credit Hours
FIN 5402: Real Estate Valuation (3)
MGT 7222: Simulation Risk Analysis and Decision Making (1.5)
AMIS 7220: Financial Statement Analysis 1 (1.5)
M&L 7201: Marketing Research & Analytics (1.5)
FIN 7210: Corporate Financing (1.5)
MGT 7232: Supply Chain Analytics (1.5)
AMIS 7221: Financial Statement Analysis II (1.5)
FIN 7218: Fixed Income Securities (1.5)
MGT 7235: Health Care Operations Management (1.5)
AMIS 7230: Accounting for Mergers and Acquisitions (1.5)
FIN 7220: Investments Management (1.5)
AMIS 7310: Managerial Accounting for Decision Making (1.5)
M&L 7382: Logistics Analytics (1.5)
FIN 7221: Financial Modeling (1.5)
MGT 7256: Tools for Data Analysis (1.5)
AMIS 7430: Taxes and Business Strategy (1.5)
M&L 7386: Logistics Technology and Application (1.5)
FIN 7222: Fixed Income Analysis (1.5)
MGT 7257: Data Analysis and Visualization (3)
AMIS 7640: Data Mining for Business Intelligence (1.5)
FIN 7223: Quantitative Portfolio Management (1.5)
FIN 7230: Derivatives Markets (1.5)
FIN 7232: Derivatives Valuation and Application (1.5)
FIN 7234: Fintech (1.5)
FIN 7241: Real Estate Finance (1.5)
FIN 7250: International Finance (1.5)
FIN 7290: Enterprise Risk Management (1.5)
In addition, in keeping with current rules, which allows MBA students to take up to nine hours of their elective coursework from outside the Fisher College, STEM MBA students will be permitted to apply (toward their required 12 hours of STEM coursework) up to nine hours of STEM CIP-coded coursework from outside the Fisher College.
3. Comparison Between the Current Full-Time MBA Program and the STEM MBA Program: The STEM MBA will be a specialization within the current, Full-Time MBA Program. Like all other Full-Time MBA students, STEM MBA students will take the same 33 hours of required coursework and 27 hours of electives. However, the specialization will be different in that at least 12 credit hours of STEM MBA students’ electives will come from courses listed in Table 1. Regular, Full-Time MBA students will be permitted to take STEM electives as well; but students will be recognized as STEM MBA’s only if they have formally declared that they are pursuing the specialization.
4. Administrative Arrangements: The STEM MBA will be administered primarily by the Fisher College’s Graduate Program Office (GPO), which houses the recruiters, advisors, and event planners whose work supports the Full-Time MBA program. The Fisher College’s Office of Career Management (OCM)will counsel STEM MBA students on career planning and job search. Other units that support the operations of the STEM MBA will be the Fisher College’s fiscal office, Office of Global Business, and Office of Diversity & Inclusion Student Services and Corporate and Community Outreach. Administrative oversight for the STEM MBA will run through the Academic Director of the Full-Time MBA Program and the Executive Director of GPO, to the Fisher College’s Associate Dean for Graduate Programs, and on to the Dean of the Fisher College.
5. Plans to Enroll Students and Prospective Enrollment: The application to the Full-Time MBA will be modified so that new students are placed in the STEM MBA specialization upon matriculation. Also upon matriculation the Fisher GPO will notify OIA and the graduate school which students have and have not elected the STEM MBA. We anticipate that, each recruiting cycle, fifteen to twenty new students will avail themselves of the STEM MBA specialization. GPO will conduct degree audits for STEM MBA students and the graduate school will conduct final reviews. Students need not have a STEM background, nor do they need prior STEM-related coursework, in order to pursue the STEM MBA. The program’s core coursework, which consists of data analytics, finance, and economics, to name a few, provides a rigorous foundation for students who elect the STEM MBA. After completing the core, STEM MBA students will be well-prepared to complete the more advanced electives in such areas as statistical modeling, financial modeling, and analytical models.
6. Transition Plan for Currently Enrolled Full-Time MBA Students: We are aware that a subset of currently enrolled students would have pursued a STEM-designated degree if it had been available when they matriculated. We will offer these students the option of switching to the STEM MBA specialization after it has been approved. In the future, it is conceivable that students who have enrolled in the specialization will want to switch to the “regular” Full-Time MBA or vice-versa. We do not expect many students will request such transfers (nor more than five per year). Students seeking a switch will inform their STEM MBA advisor, who will contact Graduate Registration Services to request the switch. This process will be performed manually.
7. Advising Sheet for the New Specialization: The advising sheet for STEM MBA students is the same for “regular” MBA students, but for the inclusion of a section in which advisors keep track of STEM MBA students’ completion of the required fifteen hours of STEM elective work.
Advising Worksheet for the STEM MBA
Core Coursework
3
3
3
3
1.5
33
Grade
12
27
8. Assessment Plan: In keeping with the accreditation standards outlined by the Association to advance Collegiate Schools of Business (AACSB), the Fisher College has developed robust assessment processes for all its programs. Of relevance here, the college conducts assessment of its Full-Time MBA program using indirect measures and direct measures. The indirect indicators, which will also be used to assess the STEM MBA, include tracking on a year-to-year basis the quality of the applicant pool (in terms of undergraduate GPA, average GMAT score, and proportion of women and under-represented minorities), application, admission, and enrollment counts, satisfaction with instruction on a course-by-course basis, and satisfaction with the program during the program, immediately upon completion, and in the years after completion.
As for direct measures of student learning, the Fisher College assesses student Full-Time MBA student learning with respect to five learning goals:
· 1: Graduates are able to apply their knowledge and skills to identify and solve business problems.
· 2: Graduates have a global perspective and an awareness of how cultural differences impact business.
· 3: Graduates are able to work and lead effectively in a team-based environment.
· 4: Graduates demonstrate professional deportment, self-awareness, leadership polish, and effective communication skills.
· 5: Graduates demonstrate an appreciation for and understanding of the importance of ethics and values as they pertain to decision making in business.
The relationships between the Full-Time MBA program’s learning goals and core coursework is shown in the following curriculum map. Curriculum mapping ensures that learning goals are reflected in a program’s curriculum so that each goal is taught and assessed. The Fisher College assesses, and compares year-to-year, the proportion of students that meet and exceed expectations on these competencies.
1 = Beginning
2 = Intermediate
3 = Advanced
MBA 6223: Finance
Advanced
Advanced
Advanced
Advanced
Intermediate
Advanced
Intermediate
Intermediate
Internship
Advanced
Advanced
Advanced
Advanced
The assessment process for STEM MBA students will include these five learning goals, as well as two more that capture mastery of STEM-relevant content:
· 6: Graduates will demonstrate fluency in techniques involving scientific inquiry, use of technology, mathematical modeling, and/or statistical modeling in line with STEM education.
· 7: Graduates will demonstrate the ability to adopt methods of scientific inquiry, technology, mathematics, and/or statistics learned in STEM coursework to the analysis of problems in business and management.
Because it is elective coursework that differentiates the STEM MBA from the regular Full-Time MBA, and because no two STEM MBA students may take precisely the same slate of electives, we have developed an assessment process that has broad applicability. That process will consist of the following steps:
· Prior to graduation and, as a requirement for receiving the STEM designation, each student will submit to GPO a paper, project, or assignment exemplifying their best work in a STEM elective.
· The Program Chair and faculty with relevant expertise will use a rubric to assess each submission. These results will be shared with the Fisher College’s Assurance of Learning Coordinator, who is responsible for preparing and disseminating reports for use within the college and for accreditation purposes.
The rubric to be used in the assessment of STEM MBA student papers and projects is as follows:
Goal
Definition of problem articulates business implications of project or assignment
7
6,7
6,7
6,7
7
7
Learnings are summarized clearly and completely
Note: Assess students only on the Criteria/Assessment Traits applicable to each assignment
9. Monitoring Student Progress. The GPO will track each STEM MBA student’s progress through the program. So ensure that the appropriate coursework is completed, an advisor in the GPO will work closely with each STEM MBA student just as they would any other traditional Full Time MBA student. A degree audit report system tool will also be used to track progress toward STEM MBA completion. Any STEM MBA student who fails to complete the requirements will not have the STEM designation listed upon completion of the degree. Prior to commencement, the GPO advisor will notify the Graduate School of this.
Miscellaneous Matters:
No programs or units outside of the Fisher College will be impacted by the creation of the new specialization. The majority of the coursework taken by STEM MBA students will come from the Fisher College. And the creation of the STEM MBA specialization will not change the overall amount of coursework taken by MBA students outside the Fisher College.
There are no plans to create new courses to serve the specialization (a rich selection of STEM-laden electives are already offered within and outside the Fisher College).
Like the current, Full-Time MBA, the STEM MBA specialization will be a residential program. There are no plans to change the mode of delivery (e.g., to online) for this new specialization.
Appendix
Short-Form Syllabi for STEM MBA Core and Elective Courses Offered by the Fisher College
Core Courses
MBA 6233: Finance
MBA 6273: Data Analysis for Managers
MBA 6292: Business Lab Challenge
Elective Courses
ACCTMIS 7230: Accounting for Mergers and Acquisitions (and other Complex Transactions)
ACCTMIS 7310: Managerial Accounting for Decision Making
ACCTMIS 7430: Taxes and Business Strategy
ACCTMIS 7640: Data Mining for Business Intelligence
BUSFIN 5402: Real Estate Valuation
BUSFIN 7210: Corporate Financing
BUSFIN 7220: Investments Management
BUSFIN 7221: Financial Modeling
BUSFIN 7230: Derivatives Markets
BUSFIN 7234: Fintech
BUSFIN 7250: International Finance
BUSMGT 7222: Simulation Risk Analysis and Decision Making
BUSMGT 7232: Supply Chain Analytics
BUSMGT 7235: Health Care Operations Management
BUSMGT 7242: Six Sigma Principles
BUSMGT 7256: Tools for Data Analysis
BUSMGT 7257: Data Analysis and Visualization
BUSML 7201: Marketing Research and Analytics
BUSML 7204.01: Customer Management, Pricing, and Analytics I
BUSML 7204.02: Customer Management, Pricing, and Analytics II
BUSML 7382: Logistics Analytics
Core Courses:
Course Number: MBA 6211
Prerequisites: Enrollment in the Full-Time MBA Program
Course Description: Accounting systems provide important information for all types of organizations throughout the world. Despite their many differences, all accounting systems are built on a common foundation. Economic concepts such as assets, liabilities, and income are used to organize information into a standard set of financial statements. Bookkeeping mechanics compile financial information with the double entry system of debits and credits. Accounting conventions help guide the application of the concepts through the mechanics. This course outlines these accounting fundamentals. It then extends this knowledge by examining how accounting information and financial statements can be used to make decisions for planning and valuation.
Course Objectives: Students will acquire basic accounting knowledge that is useful in the day-to-day practice of general management and other careers in business.
Content Topic List:
Mechanics of Financial Reporting
Statement of Cash Flows
Using Financial Statement Information
Inventory
Course Description: A market-oriented framework for analyzing the major types of financial decisions made by corporations.
Course Objectives: Students will understand the concepts of net present value, the time value of money, capital budgeting, portfolios, and how financial institutions work.
Content Topic List:
Present Value Techniques
Course Description: Case studies are used to provide an overview of various manufacturing and service operations contexts and appropriate planning and control mechanisms.
Course Objectives: Students develop a solid foundation and understanding of how operations function and contribute to ensuing effective and efficient flow of materials and information within and outside organizations. By the course’s conclusion, students will be able to (a) relate operations planning and control to business and functional strategies, (b) identify problem situations, analyze, and formulate strategies, and (c) develop viable alternatives to augment competitive advantage for the firm and its supply chain partners.
Content Topic List:
Forecasting (Patterns of Demand, Forecast Error Measures)
Capacity Planning (Estimating Capacity Requirements)
Constraint Management (Constraints and Bottlenecks)
Inventory Management (Inventory Costs, ABC Analysis, EOQ)
Supply Chain Design & Integration (Measures, Outsourcing vs Vertical Integration, Efficiency)
Operations Planning and Scheduling (Managing Demand, Prioritizing Work)
Process Analysis (Data Analysis Tools, Costs of Quality, Total Quality Management)
Quantity and Performance (Six Sigma, Statistical Process Control, Process Capability, ISO)
Lean Systems (Forms of Waste, Value Stream Mapping)
Course Title: Organizations, Markets, and Management
Course Description: An examination of the role that economics plays in analyzing and solving business problems.
Course Objectives: Provide students with a way of analyzing and solving problems in business through the lens of economics. These applications include but are not limited to predicting firm and individual behavior using the rational actor paradigm, correctly identifying the relevant costs associated with a decision or investment, setting optimal prices and price discrimination structures, predicting industry-level changes using demand/supply analysis, developing long-run strategies to prevent profit erosion and to increase firm level, using elements of game theory to predict how actions influence those of others, make better decision in uncertain environments, identifying and solving problems caused by moral hazard and adverse selection, aligning individual and division incentives with the goals of a company, managing relationships between upstream suppliers or downstream retailers, identifying opportunities to profitably consummate wealth-creating transactions.
Content Topic List:
Market Analysis, Market Forces, and Equilibrium
Profits and Sustaining Competitive Advantage
Price Discrimination and Cross-Price Effects
Sequential and Simultaneous Move Games and Nash Equilibria
Strategic Bargaining and the Nash Bargaining Solution
Uncertainty and Modeling Risk
Risk and Adverse Selection
Risk and Moral Hazard
Course Description: Large quantities of data are widely available in all disciplines of business. The analysis of data in accounting, finance, marketing, operations, and human resources is based on the same underlying principles and techniques. This course exposes students to these fundamental principles.
Course Objectives: This course introduces and develops the quantitative thinking and skills needed for managerial data analysis. Students develop an application-oriented understanding of the roles that statistical inference plays in business decision making.
Content Topic List:
Course Description: This experiential learning course is designed to equip students with effective consulting project management techniques and methods typically used in client engagement practice to solve complex business issues, while using a variety of analytical methods and tools. Course focus is upon (1) developing proficiencies in a range of skills required to practice management consulting and then (2) applying these proficiencies in a semester-long client engagement project. This course will leverage frameworks of analysis from Finance, Strategy, and Marketing, and runs concurrently with data analytical skill development (e.g. Data Analysis for Managers).
Course Objectives: This course introduces and develops tools and techniques of complex business problem solving in a project management consulting framework. Students deliver a semester-long client project through management consulting methods and frameworks in areas of company strategy, operations, or market expansion. Students develop a disciplined approach towards using business analysis frameworks to solve real-world client problems through an analysis process that begins with a request for proposal and ends with the write-up and presentation of the proposed solution to the client’s senior management team. Prior client list includes (partial): Cameron Mitchell Restaurants, Root Insurance, Sarnova, White Castle, Rotary (Deloitte), and State Auto.
Content Topic List:
Project Management tools: Project Statement of Work (SOW), Gantt Charts, Pert Charts, Work Breakdown Structure, Agile Methods of Estimation
Change Management: Initiative Cash Flow Analysis and IRR/NPV, Balanced Scorecard Evaluation
Financial Analysis: Cash Flows, Income Statements, Balance Sheets, Simple & Complex Financial Modeling
Consulting Methods: Case Interview Development, Minto Pyramid Principle (MECI) Analysis
Business Scenario Analysis: M&A, Growth Strategies, Market Expansion, Portfolio Modeling, Marketing & Competitive Analysis, Business Case Analysis
Operations and Supply Chain: Lean Six Sigma Defect and Trend Analysis, Value Chain Analysis, Procurement Management Model Analysis, Digital Transformation Investment Analysis
Elective Courses
Course Number: ACCTMIS 7220
Course Description:
The methods of fundamental analysis will be examined in detail. Topics include, but are not limited to: models of shareholder value, traditional ratio analysis, a comparison of accrual accounting and discounted cash flow approaches to valuation, the analysis of profitability, growth and valuation generation in a firm, diagnosing accounting quality, forecasting earnings and cash flows, pro-forma analysis for strategy and planning, and the determination of price/earnings (P/E) and market-to-book (P/B) ratios. The course is of interest to those contemplating careers in equity research, security analysis, consulting, public accounting, auditing, corporate finance, and data analytics.
Course Objectives:
This course is designed to improve students' ability to use financial statements as part of an overall assessment of a firm’s strategy and valuation. The primary focus is on analyzing financial statements with the goal of estimating an equity (share) valuation.
Content Topic List:
Identifying Value Created for Shareholders
Analyzing Financial Statements for Valuing Equities
Relevance of Cash Flows, Dividends, Earnings, and Book Values in Valuation
Ratio Analysis and Valuation
Profitability, Growth, and Valuation
Analyzing Financial Statement Quality
Determining a Firm’s Market-to-Book (P/B) Ratio
Evaluating Risk for Equity and Debt
Evaluating an Equity Research Report
Trading on Fundamental Information
Prerequisites: AMIS 7220
Course Description: The methods of fundamental analysis will be examined in detail. Topics include, but are not limited to: models of shareholder value, traditional ratio analysis, a comparison of accrual accounting and discounted cash flow approaches to valuation, the analysis of profitability, growth and valuation generation in a firm, diagnosing accounting quality, forecasting earnings and cash flows, pro-forma analysis for strategy and planning, and the determination of price/earnings (P/E) and market-to-book (P/B) ratios. The course is of interest to those contemplating careers in equity research, security analysis, consulting, public accounting, auditing, corporate finance, and data analytics.
Course Objectives: This course is designed to improve students' ability to use financial statements as part of an overall assessment of a firm’s strategy and valuation. The primary focus is on analyzing financial statements with the goal of estimating an equity (share) valuation.
Content Topic List:
Identifying Value Created for Shareholders
Analyzing Financial Statements for Valuing Equities
Relevance of Cash Flows, Dividends, Earnings, and Book Values in Valuation
Ratio Analysis and Valuation
Profitability, Growth, and Valuation
Analyzing Financial Statement Quality
Determining a Firm’s Market-to-Book (P/B) Ratio
Evaluating Risk for Equity and Debt
Evaluating an Equity Research Report
Trading on Fundamental Information
Course Title: Accounting for Mergers and Acquisitions (and other complex transactions)
Course Description: Students will critically analyze the implications of how accounting standards influence the information available to financial statements users. Students will also analyze, critique, and debate how academic accounting research influences contemporary financial reporting issues.
Course Objectives: The objective of this course is to provide a foundation for understanding the conceptual and practical issues surrounding the accounting for business combinations, structured transactions, derivatives, and foreign operations. In addition to learning the current accounting rules for complex transactions,
Content Topic List:
Prerequisites: MBA 6211
Course Description: This course focuses on the strategic nature of management accounting and emphasizes the critical role that information plays in decision-making, strategy execution, and overall enhancement of a firm’s value.
Course Objectives: Primarily taught through lectures and case studies, this course will utilize and build upon the concepts studied in prior Management Accounting courses, and allow the students an opportunity to see how these concepts fit together.
Content Topic List:
Job Costing
Activity-Based Costing
Cost-Volume-Profit Analysis
Master Budget / Flexible Budgets, Direct-Cost Variances
Flexible Budgets, Overhead Cost Variances
Flexible Budgets, Overhead Cost Variances Case
Transfer Pricing/Review
Course Description: The course will provide a framework for thinking about taxes that is applicable across time (as tax rules change) and across jurisdictions. Topics covered in this course include tax considerations in establishing a business, how taxes impact the structure of mergers and acquisitions, crossjurisdictional tax planning (including international and multistate), and tax implications in personal finance decisions (including deferred compensation, stock compensation, retirement plans, and alternative savings vehicles). We will approach this course using the (infamous) ScholesWolfson framework, which considers all parties, all taxes, and all costs to the transaction. Taxes are one of the largest expenses businesses incur, and thus tax planning is itself a big business. Taxes are everywhere and effect every decision, but remember: tax planning is not necessarily the same as tax minimization.
Course Objectives: The objective of this course is to provide a broad, bigpicture understanding of how taxes affect financial decisions, both at the individual and business level. This course is intended to be fundamentally different from traditional tax courses, which generally focus either on (a) the macroeconomic effects of tax policy or (b) the application of tax law to a particular set of transactions. Instead, this course takes a microeconomic approach and focuses on economicsbased decision making.
Content Topic List:
Tax Planning Fundamentals / Taxes and Public Perception Taxation of Investments
Implicit Taxes, Marginal Tax Rates, Tax Arbitrage
Tax Considerations in Choosing an Organizational Form for Corporations
Nontax Costs of Tax Planning
Analyzing Tax Information in Financial Statements
Compensation Planning, Deferred Compensation
Multinational and MultiState Tax Planning
Major Tax Issues Associated with Mergers, Acquisitions, and Sales of Subsidiaries
Course Title: Data Mining for Business Intelligence
Prerequisites: The key prerequisites consist of good graduate standing and completion of an introductory course in probability and statistics. Assignments do not involve programming, per se, and no prior professional IT experience is assumed.
Course Description: Advances in information technologies and the increased digitization of business have led to an explosive growth in the amount of structured and unstructured data collected and stored in databases and other electronic repositories. Much—but certainly not all—of this data comes from operational business software (e.g., finance/accounting applications, Enterprise Resource Management (ERP), Customer Relationship Management (CRM), workflow and document management systems, surveillance and monitoring systems, and Web logs) and is often archived into vast data warehouses to become part of corporate memory. The result of this massive accumulation of data is that organizations have become data-rich yet still knowledge-poor. What can be learned from these mountains of data to improve decisions? How can an organization leverage its massive data warehouses for strategic advantage? A large number of methods with roots in statistics, informational retrieval and machine learning have been developed to address the issue of knowledge extraction from data sets—both small and large. The term "data-mining" refers to this collection of methods.
Course Objectives: The objectives of this course are two-fold: (1) to provide you with a theoretical and practical understanding of core data mining concepts and techniques; and (2) to provide you with hands-on experience in applying these techniques to practical real-word business problems using commercial data mining software. As an applied course, the emphasis will be less on the inner working of each method and more on when and how to use each technique and how to interpret the results.
Content Topic List:
Data as a Strategic Resource; Existing Data Retrieval and Manipulation Tools for Data/Information Extraction and Reporting; Data Mining as a Problem-Solving Technique; Data mining methods; Identifying the Correct Data Mining Technique; Mining a Prepared Data Set; Interpreting and Evaluate the Results of Data Mining.
Course Title: Real Estate Valuation
Course Number: BUSFIN 5402
Course Description: This real estate valuation and financial modeling course will cover existing income producing property as well as ground up construction. Topics include market analysis, comparable valuation, income valuation, cost valuation, real estate finance, expense reimbursements, budget development, and pro-forma modeling. The course will utilize Argus Enterprise, the industry accepted real estate specific financial modeling software.
Course Objectives: This real estate valuation and financial modeling course will cover existing income producing property as well as ground up construction.
Content Topic List:
Valuation of Income Properties
Market Analysis, Sources and Uses of Debt and Equity Capital
Financial Leverage, Commercial Loan Analysis & Underwriting
Risk Analysis
Intro to Argus, Entering Properties, Revenues, and Expenses
Rent Roll, MLA, Purchase/Resale, IRR, Direct Capitalization, Port Analysis
Advanced rents/expenses, Space Absorption, Property Reports
Detailed Recovery Structures, Expense Groups
Leasing Commissions, Renewal Options, Miscellaneous Rent
Sensitivity Analysis, Budgeting Process, Short Cut Keys
Course Title: Corporate Financing
Course Description: BUSFIN 7210 builds upon the principles of corporate finance covered in 6223 (which may be taken concurrently) to address the firm’s financial decisions around capital structure, capital allocation and payout policies. Specifically, we begin by examining the firm’s capital structure (or financing) decision, which examines the amount and mix of financing required to finance investment projects. This section will also include an overview of capital markets. We will then examine the firm’s payout decision, which involves when and how much of the firm’s free cash flow should be returned to its owners, and put this in the context of the firm’s overall approach to capital allocation. In addition to these core financial decisions, the course will also introduce the topic of Initial Public Offerings and Seasoned Equity Offerings.
Course Objectives: Develop advanced valuation skills and theories and applications in capital structure and security issuance.
Content Topic List:
The Firm’s Capital Structure Decision
The Firm’s Capital Allocation Process: Introduction
Case Discussion: Structuring Corporate Financial Policy
Case Discussion: California Pizza Kitchen
The Firm’s Capital Allocation Process: Dividends and Share Repurchases
Case Discussion: Stone Container
Case Discussion: Autozone
Case Discussion: Ferrari
Course Description: The course will introduce students to the discount rates and models used by practitioners and will cover (1) US Treasury securities including: discount bills, zero coupon strips, nominal coupon bonds and inflation protected securities, (2) Select derivative instruments including Futures, (3) Corporate bonds, including discussion of the risk premiums associated with the risk of default and partial recovery, (4) Select (and simplified) Structured Securities such as Mortgage Backed Securities, and (5) Risk, return and the elements of portfolio construction using the above listed instruments.
The course and associated discussion will be focused on the practices used in the Fixed Income market. Evaluation of bonds is essentially a discounted cash flow exercise, consequently, as a pre-requisite, students must understand basic financial discounting processes. Moreover, the course will include introduction (but not the theoretical foundation and proof) of the associated mathematics used in the Fixed Income markets.
Course Objectives: This course will provide students with an introduction to the mathematics and evaluation of US Dollar denominated fixed income instruments. Students will learn the underlying terms and conditions used in the fixed income markets and apply Excel based mathematical models to evaluate the pricing, yield, risk and return attributes in the market.
Content Topic List:
Course Description: This course will explore topics affecting the asset management industry today including: the link between risk and return, CAPM and factor (“smart beta”) models, expected return, portfolio
attribution and active versus passive investing.
Course Objectives: Students will learn advanced skills needed for securities valuation, theories and applications related to the CAPM, APT, and efficient markets.
Content Topic List:
Multifactor models
Course Title: Financial Modeling
Course Description: This course will focus on leveraging primary finance skills and Excel to apply and build professional corporate financial models and detailed discounted cash flow model. Additionally, the course will reinforce fundamental Excel and finance concepts and introduce methods of forecasting.
Course Objectives:
Content Topic List:
Excel & Finance Review
Forecasting
Course Description: The goal of this course is to learn the basics of Fixed Income and Credit Risk. The first two-thirds of the course will largely focus on interest rate risk and derivative securities related to interest rates. The last third of the course will focus on corporate bonds and credit default swaps.
Course Objectives: This course is an intensive 7-week course, and I expect that it will be one of the more quantitative courses at Fisher College. I will focus largely on the tools, applications, and concepts that go into Fixed Income and Credit Risk analysis. You should expect to apply many formulas and do many calculations. In some cases, you will need to use Excel to do calculations. The course will focus largely on classroom lectures/discussions and problem assignments.
Content Topic List:
Bond Valuation
Derivatives
Interest Rate Swaps and Floating Rate Bonds
Interest Rate Options
Credits: 1.5
Prerequisites: You are expected to have already completed Investments I and II and have learned the basic analysis of equity, fixed income and derivative securities. You should also be familiar with using Excel.
Course Description: Over $49 trillion are invested in mutual funds worldwide. Roughly $19 trillion is invested in U.S. mutual funds alone, up from just $5.5 trillion in 1998. Exchange-traded funds (ETFs) now manage $5.3 trillion ($3.7 trillion of that in the U.S.), and the number of U.S. ETFs has grown from 2 in 1995 to over 1,800 in the U.S. today. The mutual fund industry employs approximately 178,000 people in the U.S. Hedge funds, including Funds of Funds, manage over $3.2 trillion. Retirement accounts in the U.S., much of which are invested in mutual funds, contain $28.2 trillion.
Course Objectives: To find employment in this industry, it is necessary to possess the skills that are required, skills above and beyond those taught in typical Investments and Corporate Finance courses. The goal of this course is to provide an introduction to the tools needed to enter the field of professional money management.
There are three main goals for this course:
1) Increasing your knowledge of the portfolio management industry.
2) Improving your data analysis skills.
3) Improving your understanding of current issues in the field
Content Topic List:
The Investment Management Process
Equity & Bond Portfolio Investing
Course Description: This course explores the valuation of forwards, options, forward-based, and option-based financial instruments. While a student may have studied options and/or forwards in other courses, this course examines in detail the analytical methods used to price these securities, and the analytical analysis of arbitrage, hedging, and speculation using these securities.
Course Objectives: Course objectives are: (1) to provide an understanding of the basic concepts and principles of derivatives, (2) to provide opportunities to learn skills used in derivative analysis and
valuation, (3) to evaluate trading and speculation opportunities available in the current financial markets, and (4) assess the influence of economic events upon pricing. The course is divided into three parts, covering separately (1) Derivative basics, strategies and payoffs; (2) Valuation of forward and forward-based derivatives; and (3) Valuation of option and option-based derivatives.
Content Topic List:
Course Number: FIN 7232
Course Description: In this course, we will first start in valuation of derivatives products. There are large number of literatures on option valuation. While the theory might at first look advanced and difficult, it is in fact quite accessible. The purpose of this course is to give you an overview of pricing methods on option contracts. During the course we will examine different types of option contracts and how they are priced. Most of the pricing will be done in the context of the binomial option-pricing model. This is a simple but powerful approach to valuing a wide variety of derivative. Then we will talk about famous Black and Scholes formula and applications to various derivatives products. And then we will cover Option Greeks and delta-gamma hedging. Last, we will end this course with Exotic Options.
Course Objectives:
By the end of this course, students should successfully be able to:
1) understand the pricing of option contracts;
2) learn how to use Binomial Option Pricing Model and Black and Scholes Formula
3) learn skills used in derivative contract analysis and valuation,
4) evaluate trading and speculation opportunities available in the current financial markets, and
5) assess the influence of economic events upon pricing.
Content Topic List:
Binomial Option Pricing
Keller’s Fund Option
Course Description: The course provides an overview of the most recent technological advances that are radically changing the financial services industry. Technological breakthroughs offer new ways for people to save, invest, borrow, and transact. We will analyze how new technologies create value in the financial industry, from reducing unit cost, increasing transparency, increasing competition, creating network effects, leveraging economies of scales, and lowering asymmetric information. We will also study the competitive landscape and the market opportunities and threats for incumbents and new entrants. The course is divided into four modules. Module 1 will provide an overview of the FinTech industry; Module 2 will focus on distributed ledgers, blockchains, initial coin offerings (ICOs), and cryptocurrencies; Module 3 will analyze application of artificial intelligence and machine learning to the finance industry, from credit scoring models in marketplace lending and crowdfunding, to algorithmic trading and robo-advising; Finally, module 4 will concentrate on other topics in Fintech including internet of things, insurance, and electronic payments.
Course Objectives: Case material is “fair game.” All students are required to read the cases individually, even those that are used in group assignments. You should be prepared to answer reasonable questions from case studies in class and on the exam. The assignments may require using basic statistical tools, but programming skills are not required. Students will be given the opportunity to acquire required skills from online tools and supplied materials.
Content Topic List:
Fintech Space Overview
Intro to Machine Learning and Its Application in Finance
Intermediate Machine Learning – Marketplace Lending
Robo-Advising
Course Description: This is a customized course for students in the MBA program and is an extension of the core first-year Finance course (MBA 6223). The core course targets all MBA students and covers a broad range of topics at a more introductory level.
Course Objectives: The main objective of the Valuation Analysis course is to build upon the knowledge acquired in MBA 6223 by focusing on two areas that are of interest to most MBA students: a) Project Analysis (Capital Budgeting), and b) Business Valuation. The course will present applications of topics covered in MBA 6223 through case discussions as well as introduce new material, such as start-up and private company valuation. The course is organized around three broad themes: a) Estimating cost of capital, b)
Project Analysis, and c) Business Valuation.
Content Topic List:
Estimating Hurdle Rates for Projects
Overview of Project Analysis
Course Number: FIN 7241
Course Description: This graduate course will examine real estate as an asset class and reinforce the position that real estate is an important component of well-diversified portfolio. The course’s goal is to provide students with a solid foundation in the building blocks of real estate finance. The abbreviated course will step through a review the major real estate sectors – Multifamily, Retail, Office, Industrial plus Hotel. It will move on with an overview of Modern Portfolio Theory (MPT) and Capital Asset Pricing Model (CAPM) and discuss the real estate finance concepts such as Capitalization Rate (Cap Rate), Discounted Cash Flow (DCF) and Mortgage Amortization. The class will review the real estate capital stack and discuss the use of equity and debt in the financing of real estate. The course will touch on the various types of real estate debt from construction to permanent financing along with the current underwriting metrics used by today’s
practitioners. The course will then move into real estate due diligence, financial modeling and real estate valuation. The course will conclude with the underwriting of an industrial acquisition and the completion of Investment Committee Memorandum (IC Memo).
Course Objectives: At the completion of the class, students should be able to demonstrate a fundamental understanding of:
· Real estate as an asset class in a well-diversified portfolio.
· Real estate capital stack – equity and debt financing
· Various real estate debt structures along with current underwriting metrics.
· Alternative financing structures including sale-leasebacks, participating debt and ground leases.
· Real estate due diligence, financial modeling (DCF) and real estate valuation
Content Topic List:
Annuities, Present Value, and amortization
Real Estate Capital Stock
Cap Rate Worksheet
Course Description: This course provides students with a framework for making corporate financial decisions in an international context. The course will discuss a spectrum of topics in the area of international financial management.
Course Objectives: Student will learn how to measure currency exposure; how to structure financial and operational hedges for currency risk; how to structure a global financing program; how to raise capital in international equity and bond markets; how to structure capital budgeting analyses for foreign direct investment; how to incorporate strategic aspects in the globalization process; and how to value target firms for cross border acquisitions. The course discussions primarily focus on solving problems facing a corporate financial manager dealing with today’s global environment. However, we also consider the challenges facing a portfolio manager or an investor allocating a global portfolio.
Content Topic List:
Corporate Strategy and Foreign Investment Analysis
International Capital Budgeting
Course Description:
This course extends the skills students developed in pre-requisite classes to the role of risk management within the firm. Taking risks and mitigating risks are integral parts of what Senior Executives and Board of Directors do to create shareholder value. Yet, the global financial crisis and corporate meltdowns suggest that many companies do not fully understand the risks that they face or how to balance these risks to create value. Companies around the world are investing in enterprise risk management (ERM) functions and risk-aware employees. Risk management has become one of the top priorities of boards, investors, regulators, and rating agencies. This course is designed to train students in evaluating and managing risks using an enterprisewide approach. The course starts with an analysis of how risk management contributes to firm value and discusses a general framework for how to use risk management to create value. The course also will examine the measurement and management of market risks, cash flow risks for non-financial firms, along with other risks such as operational risks. We will then turn to the implementation issues of enterprise-wide risk management and how to incorporate risk management into corporate decisions.
Course Objectives: The main emphasis of the course is on creating value with risk management rather than on the technical details of statistical measurement and pricing of derivatives. The material is necessarily analytical and quantitative, but the course does not require knowledge of mathematics and statistics beyond what is required for the prerequisites.
Content Topic List:
People and Behaviors, Governance, Culture and Risk Taking
Firm Value and the Role of Enterprise Risk Management
Quantitative Risk Assessment
ERM and Strategy
Course Number: BUSMGT 7222
Course Description:
This course that will focus on analyzing management decisions that involve uncertainty, risk, and complexity. There will be a strong emphasis on applications and on the use of appropriate decision analysis techniques and software tools. The analytical methods to be studied will include Monte Carlo Simulation, Forecasting and Decision Trees. In analyzing decision problems in these areas, we will learn several commercial software packages: @RISK, and PRECISION TREE, both part of the Decision Tools Suite from Palisade. Class exercises and cases will be used by the instructor to provide a hands-on approach to learning how to use the software.
Course Objectives:
It is our expectation that, after this class, students will be able to analyze real world problems using these tools and techniques and will be able to effectively utilize the software packages listed below.
Content Topic List:
Monte Carlo Simulation
Includes: @RISK®, PrecisionTree®, StatTools®
Prerequisites: MBA 6231 and 6232
Course Description: In this course we will explore how firms can better organize their operations so that they more effectively align their supply with the demand for their products and services. Throughout this course we illustrate mathematical analysis applied to real operational challenges – we seek rigor and relevance. Such quantitative analysis can help us truly understand issues or make complex business decisions.
The course covers a range of operations management topics that all impact managing supply, managing demand, or both. The emphasis is on managing uncertain demand, both within the firm and across the supply chain. We demonstrate that matching supply to demand is easiest when a firm has a flexible supply process, but flexibility is generally expensive. In this course we will learn (1) how to assess the appropriate level of supply flexibility for a given industry and (2) explore strategies for economically increasing a firm’s supply flexibility. When supply is not flexible, we will learn how to manage demand to better match it to our fixed supply.
Course Objectives:
Our aim is to provide both tactical knowledge and high-level insights needed by general managers and management consultants. We will demonstrate that companies can use (and have used) the principles from this course to significantly enhance their competitiveness.
Content Topic List:
Demand Management/Forecasting
Quick Response with Reactive Capacity
Inventory Models and Analysis in Supply Chains
Managing Risk in Operations (Risk Pooling Strategies)
Postponement (Delayed Differentiation)
Course Title: Health Care Operations Management
Prerequisites: Enrollment in MBA
Course Description: This class will cover the challenges and opportunities around healthcare delivery with an overview of the affordable care act and the movement to the volume-to-value proposition for stages of the care continuum. The process of prioritization of healthcare centric mandates and imposed tensions will be shared as well as tactics to engage stakeholders and metrics to measure success will be shared.
Course Objectives: As healthcare organizations face challenges such as rising costs & complexity, as well as increasing demand for limited resources, significant opportunity exists to better manage their operations. This course applies operations management tools to examine the healthcare value chain & analyze healthcare organizations using qualitative & quantitative principles & develop solutions to common problems.
Content Topic List:
Leadership and Resilience in an era of Change
Data Analytics for Healthcare
Clinical Care Transformation: Bundles Episodes
Engaging Providers in Operational Excellence
Course Title: Six Sigma Principles
Course Description: This course is designed to familiarize students with the Six Sigma process improvement methodology and to provide them an opportunity to practice using Six Sigma Black Belt tools. A Six Sigma Black Belt is an individual who is skilled in applying basic and advanced process improvement and project management methods in order to complete projects that will result in significant, sustainable improvements within an organization. Originally developed by Motorola to improve quality in their manufacturing processes, Six Sigma has been adopted by companies throughout the world to improve all types of processes. When applied in business environments, Six Sigma programs have been used to dramatically increase an organization’s ability to improve quality and customer satisfaction while reducing overall costs. Companies such as AlliedSignal and General Electric have used Six Sigma to significantly increase productivity, operating income and cash flow.
Course Objectives: In this course, students will gain an understanding of the strategy and deployment of Six Sigma Black Belt methods. The classroom sessions will combine lectures with group discussions, case based simulations, outside speakers and hands-on exercises.
Content Topic List:
Policy Deployment and Value-Based Project Selection
Voice of the Customer, Surveys, Market Segmentation, and CTGC Tree
Process Maps – SIPOC, VSM, Process Map, Spaghetti Diagram
Descriptive Statistics
Process Capability
Course Description: Business Analytics is one of the fastest growing fields in the market today. To succeed, one must be armed with the ‘tools of the trade’ and demonstrate a high level of proficiency. This course is designed to introduce students to commonly used software programs in data science and improve students’ problem solving skills and logical thought processes.
Course Objectives: Students will be focus on learning R (the most pervasive and up-to-date program) and will be exposed to SAS (the gold standard), SPSS (a more traditional statistical program), and Tableau (a great visualization tool) if time permits. Statistical methods and core problem solving skills will be emphasize throughout the course.
Content Topic List
R Markdown; Control Flow
User Defined Functions; Simulation
Matrix Mathematics; Matrix Representation of Linear Regression
Probability Distributions; Likelihood Functions
General linear models; logistic regression; glm
More GLM
Prerequisites: Enrollment in MBA
Course Description: In most settings individual decisions are not made in isolation. Multiple decisions must be made simultaneously and involve judgments that involve limitations, are interdependent or prone to considerable uncertainty with regard to outcomes (often all three). Increasingly this involves leveraging the capabilities of familiar and accessible technologies. The effectiveness of such leverage critically is dependent on (1) the ability to translate real-world problems into forms that such technologies can assist with, (2) the ability to portray/visualize these translations in ways that enhance the understanding of the dynamics of these problems, (3) the ability to structure mechanisms that derive suggested solutions to these problems, as well as describe the robustness of these solutions to sources of uncertainty, (4) the ability to clearly convey the justification and practicality of final solutions to others. Whereas these skills are often assumed to be distributed among multiple roles in a firm, managers competent in all four are certainly at an advantage in modern firms.
Course Objectives: This course is designed with the goal of equipping students with competencies in each of the above skill sets – the intended product being an individual capable of developing analytically rigorous decision support tools, catered to specific managerial environments, which can be easily handed off for robust application by a range of intended users in those environments.
Content Topic List:
Acquiring and Rationalizing Data
Complex-Dynamic Optimization
Leveraging User-Friendly Design
Critiques and Considerations
Instructor-Group Consultation Lab
Course Number: BUSML 7201
Course Description: This course is designed to provide an overview of the marketing research process and how it can be used to help inform the marketing decisions faced by managers. In this course, students will learn how the marketing research process is carried out through study and practice. This includes problem definition, research design, data collection, data analysis, and the reporting of results. To solidify these concepts, students will work through various lab assignments and complete the construction of a questionnaire.
Course Objectives: This course will cover various aspects of marketing research and will apply many of the statistical techniques covered in the core Data Analytics course. Having successfully passed this class, students should be capable of:
- identifying management decision problems and marketing research problems
- recognizing the appropriate settings for various research designs
- designing a questionnaire and implementing a survey
- performing analysis of marketing data using R
- interpreting research findings to make marketing recommendations.
Content Topic List:
Qualitative Research Methods
Measurement and Surveys
Multivariate Hypothesis Testing
Course Number: BUSML 7204.01
Prerequisites: MBA 6250, 6252, or 6253
Course Description: This class will provide an applied approach to widely-used analytical techniques. On the technical side, the class will cover regression analysis, logistic regression and spreadsheet modeling. These techniques are applied to real data from real case studies, empowering students to apply these models when results do not look crystal-clear as in textbook applications. The real-life problems include the analysis of customer satisfaction and customer value, and churn prediction
Course Objectives: This course will cover various aspects of marketing research and will apply many of the statistical techniques covered in the core Data Analytics course. Having successfully passed this class, students should be capable of:
- identifying management decision problems and marketing research problems
- recognizing the appropriate settings for various research designs
- designing a questionnaire and implementing a survey
- performing analysis of marketing data using R
- interpreting research findings to make marketing recommendations.
Content Topic List:
Customer Management
Stochastic Models, Advanced models
Course Number: BUSML 7204.02
Prerequisites: MBA 7204.01
Course Description: The purpose of this course is to introduce the student to quantitative frameworks and techniques relevant for making pricing decisions. This includes a comprehensive understanding of the demand side; both at the level of individual customer values, and the more aggregate level of price sensitivities of the market. While pricing strategies are taught within several disciplines, this course will take an integrative approach, combining concepts from economics, marketing, and psychology.
Course Objectives: Upon successful completion of this course, students will learn
· Concepts and theory surrounding pricing and product design,
· State-of-the-art techniques for answering price and product design questions, including:
· Analyzing historical data to investigate consumer demand
· Using price elasticity of demand for predictions and optimal pricing
· Designing conjoint studies to explore consumer preferences
· Estimating and analyzing discrete choice models for optimal decision-making
Content Topic List:
Crude Pricing Techniques
Discrete Choice Modeling
Choice-Based Conjoint Analysis
Ethics in Pricing
Course Description: This course will prepare students to make data-driven decisions on key logistics issues and then make these decisions actionable through a focus on appropriate solution methods needed to achieve firm financial goals. The course is organized into two modules: Forecasting and Network Design. We will cover a variety of logistics issues and discuss the quantitative methods and modeling approaches within these two areas.
Course Objectives: By the end of the course, students will:
· Be familiar with key issues in demand forecasting and several quantitative methods for developing forecasts
· Understand how companies approach their supply chain network design in terms of: service objectives, cost components, key drivers and industry best practices
· Understand how facility location and network design problems are modeled and solved using mathematical optimization
· Appreciate how companies address these problems in the “real world.”
Content Topic List:
Course Number: BUSML 7386
Course Description: This course focuses on the strategic and operational use of supply chain technologies such as transportation management systems, warehouse management systems, and inventory management systems, along with hardware and other applications.
Course Objectives: The objective of the class is to provide a strong knowledge and understanding of the technology used in logistics and supply chain management. In addition, several key themes will be consistent throughout the course:
· The role of strategic planning, process and relationships, with technology as an enabler.
· Dependencies and linkages between the various tools and stages in the supply chain.
· Best practices and pitfalls in implementing and using logistics systems
Content Topic List:
ERP systems, E-commerce, and Fulfillment Streams (Order and Warehouse Management)
Transportation Management Systems, Yard and Fleet Management, and Electronic On-boards
Physical Technology (RFID, AGVs, Conveyor and WCS, Voice Detection, and Wearables)
Manufacturing Technology (MES, Additive Manufacturing)
Customers (EDW & Big Data, CRM Systems, E-Commerce, Omni-Channel, Digital Marketing)
Associate Dean’s Office 200-B Fisher Hall 2100 Neil Avenue Columbus, OH 43210-1144 614-688-2129 Phone fisher.osu.edu
13 November 2020
Dear Dean Makhija:
The MBA Policy Committee discussed the attached proposal to create a STEM designated
specialization for the Fisher College’s Full -Time MBA program. The committee approved
the proposal by a vote of 10 to 0.
I too endorse the proposal, which would put our Full -Time MBA on a competitive footing
(with other top programs) with respect to new student recruiting and with respect to the
employment prospects of the specialization’s alums.
Sincerely,
13 November 2020
Dear Dean Makhija:
The MBA Policy Committee discussed the attached proposal to create a STEM designated specialization for the Fisher College’s Full-Time MBA program. The committee approved the proposal by a vote of 10 to 0.
I too endorse the proposal, which would put our Full-Time MBA on a competitive footing (with other top programs) with respect to new student recruiting and with respect to the employment prospects of the specialization’s alums.
Sincerely,
TO: Randy Smith, Vice Provost for Academic Programs FROM: Anika Anthony, Associate Dean of Academic Affairs, Graduate School DATE: December 9, 2020 RE: Proposal to Develop a Graduate Specialization, Master of Business
Administration, Fisher College of Business The Fisher College of Business is proposing to develop a new graduate specialization in STEM within the existing Master of Business Administration. The proposal was received by the Graduate School on October 16, 2020. The combined GS/CAA subcommittee reviewed the proposal on October 28, 2020 and requested revisions. Revisions were received on November 17, 2020. On November 24, 2020, GS/CAA reviewed the revised proposal and recommended it for approval by the Graduate Council. The proposal was approved by the Graduate Council on December 8, 2020.
Associate Dean’s Office 200-B Fisher Hall 2100 Neil Avenue
Columbus, OH 43210-1144 614-688-2129 Phone
fisher.osu.edu
17 November 2020
Anika Anthony Associate Dean of Academic Affairs The Ohio State University Dear Associate Dean Anthony: Herein please find a revision of the Fisher College’s request for approval for a STEM- designated specialization within its Full-Time MBA program. In this letter, I would like to walk you through our responses to the comments, questions, and concerns from the GS/CAA’s curricular subcommittee, which reviewed the initial proposal. Our responses appear in bold lettering so that they will be easier to track. 1. Additional information about the STEM emphasis
o Will students in the program be expected to have a background in STEM (e.g., prior degree, coursework, and/or professional experience)? No, students need not have a STEM background in order to pursue the STEM MBA. The program’s core coursework, which consists of data analytics, finance, and economics, to name a few, provides a rigorous foundation for students who elect the STEM MBA. After completing the core, STEM MBA students are well- prepared to complete the more advanced electives in such areas as statistical modeling, financial modeling, and other quantitative topics. We clarify this under Point 5 in the revised proposal, Plans to Enroll Students and Prospective Enrollment.
o Concerning the list of required STEM electives, the subcommittee observed that the only prerequisites noted in the short syllabi are other courses in the Fisher College of Business. Are there STEM-specific prerequisites that students must meet in order to take the STEM-focused courses (e.g., calculus, statistics, etc.)? Because the MBA core provides STEM MBA students with the
preparation that they need to complete the STEM-relevant elective courses, there are no other pre-requisites. This clarification also appears in the revised language under Point 5, Plans to Enroll Students and Prospective Enrollment.
o Will students have the opportunity to enroll in STEM courses offered across campus to meet program requirements (either STEM-designated or additional electives)? At this time, with their advisor’s approval, MBA students may take up to 9 hours of electives outside the Fisher College. We have revised the proposal (see Point 2, Proposed Curriculum) to reflect the idea that completing STEM-approved electives outside of the Fisher College will count toward the 12 hour minimum associated with the STEM MBA.
o What is the overlap between the STEM MBA and the three other STEM-
designated programs offered through the Fisher College of Business? If there are STEM courses that overlap across the four STEM programs, which courses overlap? Students in the STEM-designated specialized Master programs do not take the MBA core curriculum. There is, however, some overlap in terms of the electives that STEM MBA students would be eligible to take and the core and elective courses that students in the specialized Master programs may take. We have prepared a table that shows the courses in the STEM MBA that may be completed by students in other Fisher College STEM-designated programs.
STEM MBA Elective Courses Specialized Masters in
Finance
FIN 7218: Fixed Income Securities (1.5) X
FIN 7220: Investments Management (1.5) X
FIN 7221: Financial Modeling (1.5) X
FIN 7222: Fixed Income Analysis (1.5) X
FIN 7223: Quantitative Portfolio Management (1.5)
X
FIN 7232: Derivatives Valuation and Application (1.5)
X
FIN 7238: Valuation Analysis (1.5) X
FIN 7241: Real Estate Finance (1.5) X X
FIN 7250: International Finance (1.5) X
FIN 7290: Enterprise Risk Management (1.5) X X
MGT 7222: Simulation Risk Analysis and X X
Decision Making (1.5) MGT 7232: Supply Chain Analytics (1.5)
X
MGT 7256: Tools for Data Analysis (1.5) X X
MGT 7257: Data Analysis and Visualization (3) X X
AMIS 7220: Financial Statement Analysis 1 (1.5)
X X X
X X X
X X
X
X
X X
X
X
X
X M&L 7386: Logistics Technology and Application (1.5)
BUS FIN 5402: Real Estate Valuation (3) X
2. Transition Plan
o Concerning plans to enroll students and the transition plan (p. 6), I believe
the Fisher GPO will notify OIA (instead of OAA) and the Graduate School about which students have elected the STEM MBA. Please confirm whether OIA or OAA will be notified and edit if necessary. Yes, we will be notifying OIA and we have changed this in the document.
o By what point in a student’s program must they declare interest in switching to or from the STEM MBA program? Will there be a petition process for students who do not transfer to/from the STEM MBA program by a given point in time? Upon matriculation, MBA students will be asked to identify whether or not they will be pursuing the STEM MBA. We do not expect many
students to request to be transferred or switched later (i.e., no more than five per year). Students requesting a switch will inform their STEM MBA advisor who will contact Graduate Registration Services to request the switch. This process will be performed manually. This is explained under Point 6 of the revision, Transition Plan for Currently Enrolled MBA Students.
3. Assessment Plan
o The proposal indicates that the assessment plan for the STEM MBA program
will not differ from the assessment plan for the Full-Time MBA. The subcommittee recommends that an assessment plan be added that aligns with the goals of the STEM specialization, indicates how progress to the goals will be monitored, and describes how the program will respond to assessment data. The following kinds of program assessment components could be included in the plan for a program of this type – you may already be collecting information of this kind. Indirect Measures, including: Number of applications to the program,
Quality of the applicant pool (cGPA, diversity), Admissions to the program (% admitted, % matriculated), Student surveys (program satisfaction during enrollment), Student evaluations of instruction (Course satisfaction), Retention rates, Graduation rates, Cumulative student GPAs, Time-to-Certificate, Exit surveys at graduation, Alumni surveys (applicable employment, use of degree). For its Full-Time MBA program, the Fisher College collects and tracks, year-to-year, all the information that you mentioned. As reported in Point 8 of the revised proposal under the heading, Assessment Plan, we plan on doing the same for STEM MBA.
Direct Measures, including: Specific student evaluations to assess attainment of each competency, e.g. proportion of students exceeding and meeting expectations associated with each of the competencies (this can be collected as a set of number

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Anthony, Anika Evans, Kevin; Reed, Katie Carpenter, Thomas