FORM RR

UNIVERSITY OF MASSACHUSETTS AMHERST

OFFICE OF THE SECRETARY
THE FACULTY SENATE
PROGRAM REVISION APPROVAL FORM
35 COPIES REQUIRED
PROGRAM TITLE: Master in Business Administration (MBA) with a Focus1 in Finance
PLEASE CHECK:

GRADUATE

DEPARTMENT: Graduate Programs

XXX

UNDERGRADUATE
HEAD/CHAIR: Alan G. Robinson, Associate Dean for Full-Time MBA

SCHOOL OR COLLEGE: Isenberg School of Management

Submission Date: 1/30/12

I.

DEAN: Mark Fuller, Dean

Proposed Starting Date 6/01/2012

PROPOSAL DEVELOPMENT
A.

Describe the Proposal.

The proposed Full-Time MBA with a Focus in Finance entails the completion of 13 required courses (for a total of 42
credits), 4 credits of general electives and 9 credits of electives in the field of Finance resulting in a 55-credit degree. (See
attached proposal for a more detailed description of the Full-Time MBA with a Focus in Finance.)
B.

Provide a brief overview of the process for developing the Proposal.

The Graduate Programs Office in the Isenberg School of Management met with Sanjay Nawalkha, the Finance Area
Head, for an initial discussion of what finance electives would be appropriate. Professor Nawalkha consulted with the
other finance faculty to refine the specific courses involved and to ensure faculty buy-in. As part of this process, we
prioritized selection of a significant number of electives that will be offered on an ongoing and consistent basis. Before
submitting the proposal for Faculty Senate approval, it was sent to Professor Nawalkha and finance faculty for review.
II.

PURPOSE AND GOALS

Describe the Proposals purpose and the particular knowledge and skills to be acquired.
The Full-Time MBA with a Focus in Finance is targeted toward anyone with an interest in the finance and financial
services sectors. Students will acquire advance financial knowledge, skills and expertise that will allow them to
understand and address key issues in finance. Specific knowledge and skills include (but are not limited to): Investments,
Corporate Finance, Financial Modeling, and International Finance.

III.

RESOURCES
If this proposal requires no additional resources, say so and briefly explain why. If this proposal requires
additional resources, explain how they will be paid for. For proposals involving instruction, indicate how many
new enrollments are expected and whether the courses have room to accommodate them.
The proposal requires no additional resources as all of the courses are already currently offered by the Finance
Department within the Isenberg School of Management. As a result, we anticipate little or no additional teaching load on
our faculty. Expected enrollment is difficult to predict as the MBA program is currently committed to growing its
enrollment across the board; however, when surveyed regarded course interest, approximately 20 percent of the class
indicated finance. Conservatively, we are expecting an initial enrollment of 5-8 students in 2012, but as overall program
enrollment increases, so will the number of student electing to focus in finance.

In the interest of consistency, we would like to use the term Focus in lieu of Concentration as the Isenberg MBA program
already has three areas of Focus that we offer.

Curricular Comparison Chart: Full Time MBA vs. Full-Time MBA with a Focus in Finance
Full-Time MBA

MBA with Focus in Finance

Required Courses
SCH-MGMT 797FR Financial Reporting for Decision
SCH-MGMT 797FR Financial Reporting for Decision
Makers (4-Credits)
Makers (4-Credits)
SCH-MGMT 632 Information Management (3-Credits)
SCH-MGMT 632 Information Management (3-Credits)
SCH-MGMT 640 Financial Analysis and Decisions (3SCH-MGMT 640 Financial Analysis and Decisions (3Credits)
Credits)
SCH-MGMT 650 Business Data Analysis (3-Credits)
SCH-MGMT 650 Business Data Analysis (3-Credits)
SCH-MGMT 660 Marketing Management (3-Credits)
SCH-MGMT 660 Marketing Management (3-Credits)
SCH-MGMT 670 Production Operations Management (3- SCH-MGMT 670 Production Operations Management (3Credits)
Credits)
SCH-MGMT 697BB Managing Organizations and People SCH-MGMT 697BB Managing Organizations and People
(3-Credits)
(3-Credits)
SCH-MGMT 689 Organizational Planning and Strategy
SCH-MGMT 689 Organizational Planning and Strategy
(3-Credits)
(3-Credits)
SCH-MGMT 770 Human Resource Management (3SCH-MGMT 770 Human Resource Management (3Credits)
Credits)
SCH-MGMT 783 Business and Its Environment (3SCH-MGMT 783 Business and Its Environment (3Credits)
Credits)
SCH-MGMT 640 Managerial Economics (3- Credits)
SCH-MGMT 640 Managerial Economics (3- Credits)
SCH-MGMT 698 Practicum (6- Credits)
SCH-MGMT 698 Practicum (6- Credits)
SCH-MGMT 691F Professional Development Seminar
SCH-MGMT 691F Professional Development Seminar
(2-Credits)
(2-Credits)
Electives
13 Additional Elective Credit Hours
4 Additional Elective Credit Hours
9 Finance Elective Credit Hours

Proposal: Full-Time MBA with a Focus in Finance

Note: Prepared for Faculty Senate Review
Overview
This proposal outlines a new focus in Finance that will be a part of the existing Full-Time Master in Business
and Administration (MBA) degree offered through the Isenberg School of Management. This proposed
concentration represents a new non-thesis concentration in our existing MBA program. The goal of the
Finance Focus is to provide students with opportunity to acquire advanced knowledge, skills and expertise
that will allow them to understand and address key issues in finance. Specific knowledge and skills include
(but are not limited to): Investments, Corporate Finance, Financial Modeling, and International Finance.
The MBA program has a long-standing history of attracting students with an interest in finance, as the
Isenberg finance faculty is particularly strong. The recruiting efforts of the MBA program will be
strengthened by offering students an opportunity to focus, which will help increase revenue for the
University.
Program Details
Admission: A minimum of a bachelors degree.
Format: Courses are offered in either in person, online or both.
Required Curriculum: To satisfy the requirements for earning a Full-Time MBA with a Focus in Finance,
students must take the required Full-Time MBA curriculum (42 credit hours), including SCH-MGMT 640Financial Analysis and Decisions,2 as well as 4 credit hours of general electives and 9 credit hours of Finance
electives for a total of 55 credit hours.
Finance Focus Electives3 (9 Credit Hours Required)

SCH-MGMT 591S ~ Business Strategy and Stock Analysis: Brings together concepts from
Business Strategy and Investments in order to develop the thinking and techniques behind value
investing. Broadly, the course develops concepts about how and why stock prices fluctuate, and
how careful individuals and companies can navigate through wildly unpredictable financial
markets. (3-credits)

SCH-MGMT 641 ~ Financial Management: Includes examination of internal financial problems

of firms, such as: capital budgeting, cost of capital, dividend policy, rate of return, and financial
aspects of growth. Prerequisite: SCH-MGMT 640. (3-credits)

SCH-MGMT 740 ~ Money, Capital, Markets and Institutions: Examines the impact of financial
intermediaries on U.S. capital and money markets, and analysis of market efficiency, structure
and performance, and the role of monetary, fiscal, and debt-management policies. (3-credits)

SCH-MGMT 640- Financial Analysis and Decisions: Course entails the basic concepts, principles, and practices involved in
financing businesses and in maintaining efficient operations.
3
This is not an exhaustive list of electives. Any courses offered by the Finance Department within the Isenberg School of
Management with an appropriate focus finance would be eligible to count as elective credit towards a Full-Time MBA with a
Focus in Finance. These electives will of course change over time as the field continues to develop.

SCH-MGMT 741 ~ Investments: Develops general theory of investment management and its
application to individual and institutional investors. Prerequisite: SCH-MGMT 640. (3-credits)

SCH-MGMT 742 ~ Growth, Mergers, and Acquisitions: Includes analysis of financial problems
and implications of corporate growth, with a focus on mergers and acquisitions as instruments for
achieving growth. Prerequisite: SCH-MGMT 640. (3-credits)

SCH-MGMT 743 ~ International Finance: Provides an introduction to foreign money and capital
markets and international financial institutions, including: financial planning for corporations
with overseas operations, analysis of sources and uses of corporate funds abroad, and criteria for
choice among alternative foreign investments. Prerequisite: SCH-MGMT 640. (3-credits)

SCH-MGMT 745 ~ Financial Models: Offers an analytical approach to financial management.

Emphasizes theoretical topics of financial decision making. Provides instruction in constructing
financial decision making models through the use of mathematical, statistical, and computer
simulation methods. Prerequisite: SCH-MGMT 640. (3-credits)

SCH-MGMT 797A1 ~ Alternative Investments: Offers an overview of alternative investment

strategies, arbitrage theory, limits to arbitrage, options theory, risk management, real-life
examples, hands-on modeling, the use of financial data, and in-depth business applications
projects with real business clients. (3-credits)

SCH-MGMT 797GG ~ Real Estate Investment: Introduces a broad overview of real estate
investments. Also addresses some of the concepts and techniques involved in analyzing these
kinds of financial decisions. Topics include valuation of real property, investment performance
measurements and ratios, cash flow analysis, and financing strategies. (2-credits)

SCH-MGMT 797S ~ Financing Strategies for Corporations: Examines the capital-raising and
financing strategies of firm at different stages in their life cycles. Covers a wide range of capital
market transactions ranging from simple to complex instruments, including initial public
offerings by young firms to bank debt, public debt, public debt issues, and financing instruments
that combine financing with an element of risk management strategy. (3-credits)

SCH-MGMT 797PW ~ Private Wealth Management: Examines various issues encompassing

Private Wealth Management. These include the wealth management process, asset allocation
including investing in alternative investments, using options and risk strategies, investor
psychology and understanding tax efficiency. (1-credit)

Faculty: For information on our finance faculty, please visit

http://www.isenberg.umass.edu/faculty/Faculty_Profiles/facultydept/.
Degree Requirements: The Full-Time MBA degree is awarded to students completing the required courses
and credit requirements with an average grade of a "B" or better. All courses must be taken through UMass
Amherst and/or Continuing & Professional Education.
Degree Process: Upon meeting the degree requirements, the student must submit a degree eligibility form to
have their transcript audited by the Graduate Programs office in the Isenberg School of Management.
For more information:
Dedicated Advisor for MBA with a Focus in Finance: Bobbi Hopkins, Student Support Coordinator
Phone: 413-577-3305
Email: bhopkins@isenberg.umass.edu