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ABOUT GRADUATE SCHOOL

Preparing for Business School (MBA Program)

The best preparation for a highly responsible managerial career requires a six-year investment in higher education. In the first four years, pursue intellectual curiosity and develop analytic and communication skills—without regard to subject matter. Then, seek two to four years of full-time experience. Prior work experience helps establish the relevance of managerial decisions of formal course work in the MBA program and so contributes to group projects and discussion. Students entering better MBA programs average 27 years of age.

A survey of admissions directors at MBA programs around the country reveals that undergraduate business majors are at a slight disadvantage in applying for graduate study in business. Preferred undergraduate backgrounds are: mathematics, physics, engineering, economics, and other liberal arts majors. The best graduate schools of business prefer candidates with well-trained minds, without regard to subject matter. The MBA program will then provide the specific professional preparation for a career in management. Students wishing additional information about MBA programs should consult Managerial Studies [http://www.vanderbilt.edu/managerial_studies/] in 258 Buttrick, Professor William Damon, the Managerial Studies advisor, or the Career Center.

The Owen School of Management admits about one student into a dual degree program each year. See the Department website for a year-by-year count. Students in this joint program receive the baccalaureate degree from the College of Arts and Science under the senior-in-absentia program, normally at the end of the fourth year, and receive the master’s degree in business administration from Vanderbilt’s Owen Graduate School of Management, normally at the end of the fifth year. Financial aid for Arts and Science students in this program normally ends after the first semester of senior year.

Students interested in the program should contact the Office of Managerial Studies (258 Buttrick) [http://sitemason.vanderbilt.edu/Managerial_studies/fiveyearjointprogram]. The Admissions Office at the Owen School provides information about the admissions process and Owen’s requirements. Professor William Damon, the College Managerial Studies Advisor, may be of counsel. Note that the Owen School also offers one-year masters programs in finance and accounting that are available to recent graduates.

Economics students preparing for law school may choose from a broad menu of courses. Pre-law students might find special value in Econ 246 on unions if interested in labor law, Econ 252 anti-trust or Econ 259 financial instruments and markets if interested in corporate law, Econ 254 public finance if interested in tax law, or Econ 285 law and economics if interested in the economic analysis of the common law of property, contracts, torts, and crime. Introductory courses in accounting (FinEc 140) and finance (FinEc 240) may be helpful in law school. In addition to taking courses in political science and history, pre-law students should attempt to develop strong writing and oral communication skills. Courses that develop such skills, for example seminars, are highly recommended. For further information, see Professor Kassian Kovalcheck, Pre-Law Advisor.

Students pursuing graduate training in economics should take a variety of upper level courses (those numbered 250 and above) to develop skills in economic reasoning and to sample the fields from which they may choose areas of specialization in their graduate training. Participation in the Honors Program is also highly recommended. Econ 253 econometrics is essential. A graduate-level course in economics taken during the fall of the senior year can indicate aptitude for graduate study and help in gaining admission to a strong graduate program in economics.
Graduate study in economics uses mathematics, particularly the notation and style of proofs found in mathematics. Students must have a good command of calculus [Math 175], linear algebra [Math 194 or 204] and differential equations [Math 198 or 208]. Additional mathematics courses in topology [Math 242 or 272ab] and analysis [Math 259 and 260] may be helpful. Math 247 and 248 is a sequence in probability theory and statistics that will also be valuable. For information about graduate study, see the Director of Undergraduate Studies.

For more information about graduate study in economics, see the AEA website.

Students pursuing graduate training in public policy should take a variety of upper level courses (those numbered 250 and above) that relate to policy areas of interest. Econ 251 Wages, Employment, and Labor Markets, Econ 254 Public Finance, Econ 279 Urban Economics, and Econ 285 Law and Economics are good examples. Participation in the Honors Program (see below) may also develop research skills that are useful in policy careers. Econ 253 Econometrics may be especially valuable in exploring policy issues.

Students interested in careers in public policy may seek masters degrees in public policy or public administration. Princeton’s Woodrow Wilson School, Syracuse’s Maxwell School, and Georgia State’s Andrew Young School, offer such degree programs.

Students interested in international affairs may consider the following courses: Econ 263 International Trade, Econ 264 Open Economy Macroeconomics, Econ 271 Economic History of Europe, Econ 287 European Economic Integration, and Econ 288 Development Economics.

Tuft’s Fletcher School, Hopkins’ SAIS, Georgetown’s Walsh School of Foreign Service, and Kentucky’s Patterson School offer master programs in international relations that may be relevant to careers in diplomacy or international business. Study of foreign languages is essential.