An MBA major or specialization is opted for in the second year of the MBA program.
There are various majors
offered by various business schools in the US.
However there are certain specializations that are offered by most of the schools. The website of the B-School you plan to attend will have details about specializations offered by them. The MBA specializations offered will vary school by school basis.
Core curriculum
The first year of the MBA program consists of the core curriculum. These are courses
which all the
students have to take in their first year, that is, the first two semesters, irrespective
of the
specializations opted for in the second year.
The core curriculum consists of basic subjects like finance, marketing, accounting,
organizational
behavior, statistics etc. These basic courses are designed to impart to the student
a basic understanding
of the world of business.
Electives are courses that you can select during your second year of MBA. These
courses are grouped into
various specializations and students can select courses from the courses catalogue.
Some electives have
prerequisite courses before you enroll into electives.
Majors
> General MBA
> Accounting
> Finance
> Marketing
> Industrial/Organizational Psychology
> Computer Information Systems (CIS)
> International Business
> Statistics/Operations Research
> Other specializations
> General MBA
The general MBA is a major that encompasses different management fields. The students
have the choice to
select their electives from any specialization. For example a student may do a general
MBA with elective
courses from Finance and Computer Information Systems. Remember that most courses
that you would select have prerequisite courses that must completed. You academic
office will provide you more information on the
different types of electives that are on offer.
A general MBA is an ideal major to choose if you do not intend to specialize in
any given major. The
general MBA also gives you the flexibility to combine selected subjects from two
or more majors. For e.g.
a student may take courses from Finance and Computer Information Systems for his
general MBA. Thus the
student can gain knowledge in more than one field of study through a general specialization.
Accounting
Accounting major offers the students a unique view inside the functioning of an
organization from the
accounting perspective. Accounting majors can also take the CPA exam and qualify
for credits towards the CPA
exam. The major courses covered in this major are:
> Financial Accounting
> Managerial Accounting
> Cost Accounting
> Auditing
>Taxation
> Accountancy with Computer Information Systems
Finance
A finance major is a stepping stone for a successful career in the financial industry.
A finance major
imbibes you with advanced knowledge of financial concepts, financial services and
practical application
of finance courses learnt in the finance major. The various subjects covered in
the Finance major are:
> Corporate Finance
> Financial Management (basic and advanced)</li>
> Financial institutions
> Money and Capital markets
> Financial transaction processing
> Portfolio Analysis
> International Finance</li>
> Statistics for business</li>
Marketing
Many say that marketing is an art rather than science. And there is no better place
than to learn it
in a business school. Marketing major will impart sound knowledge of marketing concepts,
advertising,
retail marketing, internet advertising, international marketing etc. The subjects
offered in Marketing
specialization are:
Marketing Research
Consumer behavior
Advertising and marketing communication
Direct marketing
Media planning
Internet marketing
International marketing
Industrial/Organizational Psychology
An MBA Industrial/Organizational Psychology gives a strong grounding to students
in the field of
personnel, organization and human resources psychology. Post MBA students can find
employment in
consulting companies, HR departments of companies, recruiting firms and management
consultancies.
The subjects covered in this major are:
> Industrial Psychology – Personnel
> Industrial Psychology – Organization
> Psychological research
> Organizational behavior
> Compensation studies
Computer Information Systems (CIS)
In today's business world, information technology plays a pivotal role. There is
technology hardware and
software supporting any business application. A CIS major enables student to manage
technology and use
their technical skills for performing management functions. The subjects in this
major are:
> Technology integration in business
> E-business techniques and principles
> Information technology in Financial markets
> Database systems
> Operating systems
> Object Oriented programming
> Networks and communications
> System Analysis and design
International Business
In today's global world, the entire world is a market. Many companies do international
business with other
countries across the world. Such multinational companies are an ideal place for
an international business
graduate to work in. The MBA in international business prepares a student to work
with multinational companies
home and abroad. The subjects in this major are:
> International marketing
> International business strategy
> International economics
> International finance
> International Corporate finance
> Export – Import management
Statistics
An MBA in statistics allows statistical tools and techniques to be applied in industry,
organizations and
government for forecasting, modeling, simulation etc. For example actuaries employed
by insurance companies
are usually statisticians. The course work for Statistics consists of the following
courses:
> Regression and Forecasting Models for Business Applications
> Basic Software Tools for Data Analysis
> Time Series: Forecasting and Statistical Modeling</li>
> Multivariate Statistical Methods
> Statistical Methods in Sampling and Auditing
> Advanced Statistical Computing
> Computer Simulation techniques
Other specializations offered by some schools
> Decision Sciences
> Economics
> Real estate Management
> Taxation
> Insurance
> Entrepreneurship
> Environment / Renewable energy