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Online MBA Core Details

Waiver Process: How to Apply for a Waiver

Core Requirements with no Prerequisites*

Core Requirements with Prerequisites*

ACC 533: Financial Accounting (2.25 credits)

ACC 534: Managerial Accounting (2.25 credits) 
[ACC 533 prerequisite]

BE 533: Applied Microeconomics (2.25 credits)

FIN 533: Financial Management and Policy (2.25 credits) 
[ACC 533 and TO 533 prerequisite]

MBA Communication Competency Requirement

STRATEGY 533: Corporate Strategy (2.25 credits)
[ACC 533 prerequisite]

BL 533: Business Law and Ethics (2.25 credits)

TO 534: Introduction to Operations (2.25 credits)
[TO 533 prerequisite]

MKT 533: Marketing Management (2.25 credits)

TO 535: Technology Management (2.25 credits)
[TO 534 prerequisite]

MO 533: Human Behavior and Organization (2.25 credits)

 

STRATEGY 534: Competing in the Global Business Environment (2.25 credits)

 

TO 533: Applied Business Statistics (2.25 credits)

 


ACC 533: Principles of Financial Accounting (return to top)

Course Description: The core Financial Accounting course introduces the fundamental concepts and methods used in the preparation and analysis of corporate financial statements. The primary emphasis is directed toward obtaining an understanding of the accounting for certain transactions and economic events with respect to the measurement of the associated assets, liabilities, and related income and cash flow consequences. This level of understanding includes insights into the fundamental strengths and limitations of the financial reporting process. The knowledge obtained in this class provides an important set of tools that are vital for anyone – management, investors, analysts, consultants – who will be expected to use financial statements in a meaningful way.

Contrary to the methods of many undergraduate introductory accounting courses, we adopt a “user perspective” rather than a “preparer perspective” – emphasizing the analysis and interpretation of financial statements rather than the mechanics behind their construction. To do this effectively requires some knowledge of the “nuts and bolts” of accounting (debits and credits, journal entries, etc.) but these are only a means to an end and not the primary objective of the course. The course emphasizes analysis of actual financial reports to apply the basic concepts and methods of financial reporting to issues such as long-term assets, inventory, revenue recognition, receivables, cash flows, international operations and fundamental analysis. Most students will find that the coverage of financial reporting in a single undergraduate financial accounting course will be insufficient to replicate the experience of ACC 533.

Waiver Requirements: Waiver requests for ACC 533 may be submitted based on academic experience or professional designation only. Waiver requests are not accepted based on professional experience. A waiver exam is not offered for ACC 533.

1. Waiver Request based on Academic Experience: In general, requires successful completion of a minimum of two courses in financial accounting (i.e., through the undergraduate intermediate level). Please note that one introductory course in financial accounting and one introductory course in managerial accounting will not normally be deemed sufficient.

2. Waiver Request based on Professional Designation: Certified Public Accountants (CPA) and Chartered Accountants (CA) will automatically be waived from ACC 533 with documentation and cannot take or receive credit for this course.


ACC 534: Principles of Managerial Accounting [prerequisite ACC 533] (return to top)

Course Description: This course considers decision-making in organizations where the decisions involve the generation, analysis, or use of financial information. The major topics in this course are cost management systems and management control systems. Cost management systems develop product and service cost information for pricing and other decisions. Traditional and activity-based costing systems are discussed. Management control systems focus on the measurement and control of managerial performance. Business unit measures, such as ROI, EVA, and the balanced scorecard are discussed. Methods useful for both performance evaluation and control, such as variance analysis, are also discussed. Throughout the course, a managerial viewpoint is stressed. Cases are used.

Waiver Requirements: Waiver requests for ACC 534 may be submitted based on academic experience, professional experience or professional designation only. A waiver exam is not offered.

1. Waiver Request based on Academic Experience: Two undergraduate courses in managerial (not financial) accounting are required. Coursework must consist of two undergraduate courses (one introductory course such as ACC 301 or equivalent and one intermediate course such as ACC 315 or equivalent) or one equivalent graduate level course.

2. Waiver Request based on Professional Experience: Extensive experience will be considered if it includes experience with design or implementation of costing systems.

3. Waiver Request based on Professional Designation: Certified Public Accountants (CPA), Chartered Accountants (CA), and Certified Management Accountants (CMA) will automatically be waived from ACC 534 with documentation; however they may choose to take and receive credit for this course.


BE 533: Applied Microeconomics (return to top)

Course Description: This course provides students with the foundations of microeconomic analysis. The primary objective is to develop the abilities of students to apply fundamental microeconomic concepts to a wide range of managerial decisions, as well as public policy issues. Foundation topics include: costs and supply behavior of the firm; consumer behavior and market demand; market forces, price formation and resource allocation; international trade and trade restrictions; and, market power and price-setting behavior. Students will also be introduced to more advanced aspects of microeconomic analysis. Advanced topics include: decision-making with risk and imperfect information; oligopoly and game theory; and, complex pricing strategies.

Waiver Requirements: Waiver requests for BE 533 may be submitted based on academic experience only. Waiver requests are not accepted based on professional experience or professional designation. A waiver exam is not offered.

1. Waiver Request based on Academic Experience: Students who were undergraduate economics majors within the past 7 years will be waived based on: (1) GPA of "B" or better for undergraduate economic courses, and (2) list of courses appearing on the transcript must include intermediate microeconomics. Waiver petitions from non-economics majors will be considered on a case-by-case basis. The faculty will consider both the number of microeconomics classes taken and the grades received.


FIN 533: Financial Management and Policy [prerequisites ACC 533 and TO 533] (return to top)

Course Description: The course is primarily devoted to the principles of financial valuation. We will first discuss the concept of present value in extensive detail, and then apply the principles of valuation to value (a) real projects (or what is commonly referred to as capital budgeting) and (b) financial securities (stocks and bonds) under certainty.  Since financial decision-making virtually always involves risk and uncertainty, we will then introduce the concept of risk, and the relation between risk and return. We will integrate our knowledge of cash flows with our understanding of risk to modify capital budgeting techniques in the presence of risk and uncertainty. The course concludes with an introductory treatment of the effects of financing on capital budgeting decisions.  Although the concepts of competitive capital markets and market efficiency will not be covered in a separate session, they will be woven in the fabric of the course. Please note that students may not take both FIN 533 and 513 for credit. 

Waiver Requirements: FIN 533 may be waived only by exam.  Waiver requests will not be accepted based on academic or professional experience, or professional designation.  A waiver exam for this course will be offered before the beginning of the Fall term. 

1. Waiver Exam: This exam will test you on the fundamentals of Financial Management & Policy. The basic concepts that will be covered are: Time Value of Money, Capital Budgeting, Risk and Return and Efficient Markets Hypothesis. A good way to prepare for this exam is to review Chapters 1 through 14 of Corporate Finance by Ross, Westerfield and Jaffee, 10th Edition (ISBN=978-0-07-803477-0). Please gauge your knowledge of the topics by doing as many problems as you can. You may consider taking the waiver exam if you have had a graduate-level finance course and 2 to 3 years of work experience in the finance field. Students should carefully review the FAQ information for FIN 533 when considering this waiver exam. The Waiver Exam Schedule lists the date, time and location of the exam. 


MKT 533: Marketing Management (return to top)

Course Description: Marketing management is a complex business function which requires both knowledge and skill in strategy formulation and implementation. It necessitates a systematic and disciplined approach, which employs the appropriate selection of tools, analyses, and logical reasoning. This course helps you develop a broad knowledge of the core marketing concepts and tools - both strategic and tactical. Using cases, discussions, and other experiential activities, it provides you with opportunities to apply these marketing concepts and tools. 

Waiver Requirements: Waiver requests for MKT 533 may be submitted based on academic and professional experience. Waiver requests are not accepted based on professional designation. A waiver exam is not offered.

1. Waiver Requests based on Academic Experience: Undergraduate coursework and prior work experience will be considered in requests to waive this course. Completion of a graduate-level course on marketing management and strategy will also be considered. The course must be similar to the marketing core course and completed with a grade of "B" or better. Provide a note detailing the topics that were covered in the course, a copy of the course syllabus and the name of the textbook that was used.


MO 533: Human Behavior and Organization (return to top)

Course Description: This course introduces key frameworks that will help students (1) better understand the root causes of human attitudes and behavior in organizations and (2) use this knowledge to identify best practices that will help them become high-potential leaders who are able to leverage individual and organizational strengths and avoid/address problematic dynamics in organizations.  The frameworks selected for this course reflect those most relevant and useful in today's business environment and build on students' personal experiences in organizations.  Specific topics include understanding organizational culture, empowering and motivating employees, creating high performing teams, leveraging diversity, developing political awareness and skills, and achieving results through the effective leadership of human capital.  Students will learn these frameworks and best practices through cases, simulations, self-assessments, movies, discussions, and assignments.   The course provides essential foundations for MAP, subsequent electives in management and organizations, and ultimately your long-term professional success.

Waiver Requirements: Waiver requests for MO 533 may be submitted based on academic experience only. Waiver requests are not accepted based on professional experience or professional designation. A waiver exam is not offered.

1. Waiver Request based on Academic Experience: Undergraduate coursework and prior work experience are not sufficient to waive this course. To waive, completion of a graduate-level course on individual and organizational-level behavior (both must be addressed) is required. Courses must be similar to the MO core course and have been completed in the past 5 years with a grade of “B” or better. Provide a note detailing the topics that were covered in the course, a copy of the course syllabus and the name of the textbook that was used.


STRATEGY 534: Competing in the Global Business Environment (return to top)

Course Description: The march of globalization continues, and international markets are pivotal to the operations of virtually all corporations. As companies intensify their international presence, the need to understand the economic and political challenges associated with the global environment increases. Such challenges are the focus of this course. This course explores the theories and concepts that are crucial to understanding the global location and structure of industries, the politics of trade and investment, and the impact of globalization on firm strategy. Various learning methods are used in the course, including in-class lectures, discussion of current events in the world economy, and case analysis.

STRATEGY 534 cannot be waived by either waiver request or waiver exam. This course must be completed at the University of Michigan-Ann Arbor while enrolled in the MBA program. (The only exception that will be granted is for students who successfully completed this course at the Ross School of Business within two years prior to entering the MBA program.)


STRATEGY 533: Corporate Strategy [prerequisite ACC 533] (return to top)

Course Description: This course focuses on the job, perspective, and skills of the general manager in diagnosing what is critical in complex business situations and finding realistic solutions to strategic and organizational problems. It is designed to build upon previous required coursework in the MBA program drawing upon the integration of various functional and technical areas and providing a "total business" perspective. Since the focus is on pragmatic, action-oriented, general management skills, the course will be taught primarily through the case method.

STRATEGY 533 cannot be waived by either waiver request or waiver exam. This course must be completed at the University of Michigan-Ann Arbor while enrolled in the MBA program. (The only exception that will be granted is for students who successfully completed this course at the Ross School of Business within two years prior to entering the MBA program.)


TO 533: Applied Business Statistics (return to top)

Course Description: This course introduces MBA students to widely-used, powerful, analytical procedures for making business decisions.  The course broadly surveys decision making with and without uncertainty.  Deterministic decision making models are used for constrained optimizations problems, such a linear programming, integer programming, and nonlinear optimization.  In addition to setting up the objective function and constraints in EXCEL and obtaining an optimum, the course covers important concepts such as shadow prices and reduced cost.  Decision making under uncertainty introduces probability assessments into the decision model, and the optimal decision maximizes expected value or utility.  Topics include probability, expected value, opportunity cost, expected value of perfect information and multi-stage decision trees.  The uncertainty in decision making can be reduced by collecting data and performing a statistical analysis.  The course covers basic statistics and graphics, correlations, normal and binomial distribution, inference, hypothesis testing, and regression analysis.

Waiver Requirements: TO 533 may be waived by exam only. Waiver requests are not accepted based on academic or professional experience, or by professional designation. A waiver exam for this course will be offered before the beginning of the Fall term. Note that only one exam time will be offered per year.

Waiver Exam:

Most introductory statistics texts are sufficient for the material on decision making under uncertainty and statistics. Some examples of standard texts are: Ken Black, Business Statistics; Wiley & Sons, Management Science (chapters on constrained optimization and linear, integer and mixed programming); Powell & Black,Management Science; and Statistics for Management and Economics, Sixth Edition, by Gerald Keller and Brian Warrack, Duxbury Press. The material on deterministic optimization can be found in operations research or operations management texts such as Production & Operations Management, Sixth Edition, by Richard Chase and Nicholas Aquilano, Irwin Publishing, Linear Programming Supplement. Additional information can be found online at http://www.sce.carleton.ca/faculty/chinneck/po.html or http://www.ece.northwestern.edu/OTC/.

Students should carefully review the FAQ information for TO 533 when considering this waiver exam. A more detailed description of the TO 533 placement exam is available here. The Waiver Exam Schedule lists the date, time and location of the exam.


TO 534: Introduction to Operations [prerequisite TO 533] (return to top)

Course Description: This course prepares students to think managerially and analytically about operations processes, and to use the results of analysis to make things work better, faster and cheaper. Operations management studies the value-creating processes by which inputs of materials, labor, capital and information are transformed into products and services which customers want and are willing to pay for. These processes can be managed well or poorly. Knowledge introduced in this course will help you understand the reasons for both.

Waiver Requirements: Waiver requests for TO 534 may be submitted based on academic and professional experience only. Waiver requests are not accepted based on professional designation. A waiver exam is not offered.

1. Waiver Request based on Academic Experience: To waive this course, at least 6 credit hours of prior course work in operations management are required. The courses must have been taken within the past 7 years with a letter grade of “B” or better in each one. Model-oriented operations research or management science courses are not considered to be operations management courses.

2. Waiver Request based on Professional Experience: Extensive operations management experience will be considered in place of no more than half of the required six credit hours of course work. Waiver requests must be accompanied with relevant transcripts and, if applicable, documentation of prior operations management work experience.


TO 535: Technology Management (return to top)

Course Description

Waiver Requirements: TBD


Communication Competency Requirement (return to top)

In addition to your core courses, you must fulfill a communication competency requirement. During the summer prior to the first year, student submit writing and speaking communication samples for evaluation. Based on these assessment scores, student place in one of three groups. 

  • Students who place in Group 1 will receive a personalized email that includes assessment scores/profile. After that point, the Management Communication Competency Requirement has been met.

  • Students who place in Group 2 or 3 will be required to satisfactorily complete online modules to fulfill the Management Communication Competency.

This requirement must be completed through the steps outlined above and cannot be waived. 


BL 533: Business Law and Ethics (2.25 credits) (return to top)

Course Description: This course focuses on the role of law and ethics in leadership development and organizational success. The course has two main goals. The first goal is to develop legally savvy leaders who are able to accelerate career success by understanding the legal aspects of their responsibilities. The second goal is to show how organizations can achieve competitive advantage by reducing legal and reputational risks in a manner consistent with personal and organizational values and using the law responsibly to create economic value. The course opens with modules providing an overview of the legal framework for management decision making and on two foundation areas of the law relating to business-contracts and torts. It then continues with modules on the law of managing human capital. This set of modules explicitly will address the types of ethical tensions observed throughout the first part of the course, the importance of organizational culture, and how to give voice to ethical values. The course ends with coverage of intellectual property (IP), including trade secrets, patents, copyrights, and trademarks. This material illustrates how law fosters the creation, protection, and strategic management of intellectual property rights to create value for the organization.

Waiver Requirements - Business Law: Waiver requests may be submitted based on academic experience or professional designation. Waiver requests are not accepted based on professional experience. A waiver exam is not offered.

1. Waiver Request based on Academic Experience: Waiving the business law requirement requires completion of graduate courses in business law with demonstration of sophisticated knowledge of legal concepts, standards, systems and institutions in the context of business entities and commercial transactions. Factors that will be considered before granting a waiver request include: how recently the graduate courses were taken, the number of graduate courses, the depth and rigor of the graduate courses, the student’s performance in the graduate courses and, if the graduate courses were taken in a non-U.S. jurisdiction, whether the topics covered were sufficiently international in scope to provide understanding of both code and common law legal systems. Please provide a copy of your transcript with the relevant graduate courses highlighted together with copies of your syllabi for the graduate courses.

2. Waiver Request based on Professional Designation: Students enrolled in the joint JD/MBA program or who have a Juris Doctorate are exempt from this requirement and may not take Business Law courses for credit unless they obtain permission from the instructor.