The University of Chicago Booth School of Business has announced the launch of its new Master in Management Degree, designed for recent college graduates who studied humanities, arts, social sciences, biological sciences, or physical sciences. The new program invites candidates with limited work experience to study business and management at one of the most prestigious business schools in the U.S.
“We are excited to debut Chicago Booth’s one-year Master in Management, the school’s first new degree program in 88 years,” said Madhav Rajan, Booth dean and the George Pratt Shultz Professor of Accounting, in the school’s press release. “We look forward to introducing foundational business skills to a new generation of Booth students, enhancing their impact in that first job and beyond.”
With a multidisciplinary curriculum emphasizing foundational business skills and analytical thinking, the 10-month program caters to graduates who have yet to study business, but seek careers that place a premium on business-oriented skills. The program kicks off with the two-week immersive Boothcamp experience, where students participate in academic and professional development activities, preparing them for the classroom with an overview of basic accounting, business, statistics, economic terms and concepts, and interpersonal skills. A crucial 10-week co-curricular course, “Succeeding in the Workplace,” is taken at the program’s outset during Boothcamp and continues into the fall quarter. The course hones in on career exploration, job search strategy and skills, and self-awareness and interpersonal knowledge, putting students in the mindset for business career development.
The curriculum is built around five required core courses: Data Analytics, Financial Accounting, Microeconomics, Managerial Decision Modeling, and Behavioral Foundations of Management. Students will choose an area of specialization and then select four courses from within that specialty: Analytics, with classes like Big Data and Machine Learning, necessary for the modern business environment; Entrepreneurship, which includes Innovation Leadership and Impact Investing; and Strategic Management, which has classes like Game Theory and Managing the Firm in the Global Economy. The more traditional fields of Finance and Marketing round out the specializations available. To further customize their academic journey, students can choose one elective course from a vast selection of over 100 options at Booth.
Chicago Booth is the fourth M7 business school with a Master in Management program, after Northwestern Kellogg, MIT Sloan, and Stanford GSB previously launched theirs. It’s worth noting that programs like this compete with deferred enrollment MBA offerings, which target college seniors. The goal, however, appears to be attracting students who aren’t on the MBA path, but desire the professional skills that translate to success in other fields.
Applications for the first class will be available starting September 1, 2023. The inaugural cohort of students begin their studies in the fall of 2024.
