Program Planning
PROGRAM REQUIREMENTS
For MBA students entering in Fall 2007, the graduation requirements for the Master of Business Administration degree are:
| Graduate Credit Units* | ||
| Core Courses: | ||
| Required Foundation Courses | 10** | |
| Electives: | ||
| (5cu usually needed for major; 1cu of which typically comes from the core) | 9** | |
| Total Required | 19 | |
* Coursework at the Wharton School is measured in credit units (cu).
See the section on Course Load.
** Taking accelerated Financial Accounting
(ACCT621) or Corporate Finance (FNCE621) will decrease the core course load by 0.5 cu per course and increase other electives by
the same amount. The minimum total credit units required is always 19 cu.
The Wharton MBA degree requires 19.0 credit units of graduate level courses, up to four of which may be taken outside of Wharton. All 19 cu must be taken while registered in Wharton MBA program coursework, with the exception of approved dual degree programs. Students may take up to 21 cu without incurring additional tuition charges, so the balance (2 cu) could include undergraduate level courses. The only class requiring additional tuition is the Global Immersion Program due to its international travel component.
You may waive most, but not all, of the required core courses. (See information about waivers later in this section or in the Waiver Information Guide.) If you do waive courses, you must replace the waived credits with electives. The minimum requirement for graduation remains 19 cu at the graduate level regardless of waivers.
The MBA program is designed for a two-year full-time residency consisting of four academic terms. While it is possible to graduate in less time by attending three academic terms and the summer term, summer course offerings are quite limited. Summer study may also preclude an internship, which is a valuable part of the MBA experience. It is also possible to delay graduation to continue taking classes in the summer after the fourth semester. Students may continue taking courses in the fifth semester if the courses taken are needed for graduation and they receive permission from the MBA Program Office.
Wharton’s coursework includes rigorous analytical treatment of several quantitative subjects and presumes familiarity with college-level calculus. If you have never taken a college-level course in calculus, we strongly urge you to take one before arriving.
All entering MBA students must demonstrate proficiency in mathematics through an examination administered before the start of the program. You must successfully pass the mathematics examination before the start of fall classes. To assess your preparedness, we provide a self-assessment test. If your self-assessment test indicates that you need a math refresher, you should consider registering for one of our Pre-Term math review courses, STAT 611: Basic Mathematics Review or STAT 612: Advanced Mathematics Review. These courses serve as quick refreshers of the math skills students need in core courses. They presume prior exposure to elementary calculus. Nearly all MBA students have attended one of the math review courses. These courses should not be viewed, however, as a substitute for basic undergraduate analytical skills.
PRE-TERM PROGRAM
The Pre-Term program ensures that the diverse incoming class begins the Fall term with a consistent level of introductory knowledge. Pre-Term offers coursework in financial accounting, microeconomics, and statistics at different levels. Preparatory courses in these disciplines cover material that you are presumed to understand prior to Fall term coursework. The material covered in the basic level courses during Pre-Term will not be reviewed in the Fall term.
To help you determine which Pre-Term courses are appropriate, we provide you with a Get Started booklet, a Waiver Information Guide, and a math self-assessment test, all available on our website. If you have a strong background in any of these disciplines, you may find it more appropriate to attend the courses that will prepare you for waiver or placement exams.
Pre-Term also offers courses on business history and languages, as well as short seminars in communications skills, computing technology, trading simulations, and career management. A rich and varied faculty lecture series is also a prominent part of Pre-Term.
A highlight of Pre-Term is the mandatory two-day, off-campus team building retreat where you will be assigned to your learning team for the first year of the program. Pre-Term ends with the Diversity Workshop and Case Day. The latter teaches students to prepare for and participate in a case discussion and is a perfect lead-in to the fall semester.
CORE CURRICULUM
The core curriculum provides the groundwork for your degree, beginning with the basic courses in Pre-Term. The first year curriculum supplies the conceptual framework for management through foundational management disciplines such as finance, operations and marketing; analytical courses, including economics and statistics; and leadership skills such as teamwork, ethics and communications. The diagram that follows reflects a footprint of how the core comes together to prepare you for elective courses and for your future career.
Individual courses in the curriculum build on each other. Not only do second-year courses build on core courses, but core courses held later in the first year build on those completed earlier in the year. It is therefore essential that you take core courses in the proper sequence. (Please refer to the section on course load). Also, core courses must be completed; you cannot drop a core course once you have been enrolled. Electives may be taken in the first year, but only in addition to the core course requirements offered in that semester.
COHORTS
As an entering student, you will take all core courses with the same group of approximately sixty-five classmates. These “cohorts” become a strong social group, often spending significant time together outside the classroom. Groups of three cohorts are gathered in “clusters”, which become classes within a class. Each cluster shares the same faculty members who function as a team to integrate the coursework across different disciplines.
The MBA Program Office randomly assigns matriculating students to cohorts before the beginning of the first year. You will be notified of your cohort assignment when you arrive for Pre-Term. For core courses we will automatically register you in the class sections assigned to your cohort with the exception of those classes you have waived or those that allow flexible registration.
CORE COURSE WAIVERS
The faculty offer waivers in all core courses except MGMT 652 (Foundations of Teamwork and Leadership), LGST 652 (Ethics and Responsibility), and WHCP 653 (Management Communication). To attain maximum flexibility in the program, we encourage you to seek waivers in the core courses in which you have substantial academic background. You have three options with respect to each core course: 1) take the course, 2) waive by credentials, or 3) waive by examination. Details of the waiver process are described in the Waiver Information Guide (mailed to all students in the Get Started booklet or available on our website under the Pre-Term link). The main points are summarized below.
Waiver by Credentials
Depending on the course, you may request a waiver on the basis of prior coursework and/or experience in the subject area. Waiver requirements differ between courses so it is important to refer to the Waiver Information Guide to evaluate your credentials.
In some instances, if you have a specialized background in a core course area, you will be given permission to substitute advanced or related courses for the core course in that area. These substitutions may be made at any time during the two years of the program. Since the substitute courses are electives, you are responsible for registering yourself in these courses, so you should verify when and how often these courses are offered. If your application for waiver by credentials is denied, you may take the waiver exam.
Waiver by Examination
You may take any of the written waiver examinations for which you feel qualified. The examinations test proficiency in the subject matter of the course. You should prepare by reviewing the guidelines in the Waiver Information Guide as well as material from your past courses. Waiver exam preparation courses are offered during Pre-Term in Financial Accounting, Statistics and Microeconomics. The waiver examinations for the core courses are given from August to September and some may be offered again closer to the start of the term for courses in later quarters (see Waiver Information Guide for an examination schedule). Failure to pass a waiver examination is not recorded on any official student record, but does preclude the student from waiving by credential.
ELECTIVES
Wharton’s curriculum offers a broad range of elective courses in each of its eleven academic departments. Most of the electives build upon core courses and may not be taken unless the student has completed the prerequisites. You may also take electives in any program at the University of Pennsylvania. However, only graduate credits count toward the MBA degree and you may not count more than four graduate credit units taken outside Wharton toward the MBA.
Please note: Wharton does not count coursework from other universities towards its MBA degree unless these are taken as part of an approved dual degree program or recognized exchange program. In addition, any coursework completed at the University of Pennsylvania prior to registering in the MBA program does not count towards the MBA degree, with the exception of approved dual degree programs. Elective courses that were completed with a passing grade may not be repeated.
Advanced Study/Independent Study Projects
Students, under the supervision of a faculty member, can also register for an Independent Study Project (ISP) for course credit in order to allow the student to pursue an area of special interest that may not be covered by a course in the curriculum. Some departments offer Advanced Study Projects (ASPs). These ASPs are coordinated through seminars that may have regular weekly meeting times. Individual departments and the MBA Program Office will advertise these seminars and their prerequisites. To sign up for an ASP or ISP, you must get the approval of the faculty member(s) who will supervise the project or register through the auction as appropriate. If you need to register for the class outside the auction, forms are available in 300 Jon M. Huntsman Hall and on the MBA Program website. ISPs may constitute up to a full credit unit, normally may be taken for elective credit only, and are charged according to the usual tuition policies. Departments allow ASPs from their department to count toward their own major. Permission to count an ISP towards a major must be approved in advance by the MBA advisor for the major. Ordinarily, you may take no more than one independent study each semester. Permission to take more than one independent study must be received in advance from the MBA Program Office.
Registration for University Courses Outside Wharton
The University Registrar publishes a complete listing of University courses and descriptions in the Course Register, which is available on-line at http://www.upenn.edu/registrar.
A limited number of paper copies are also available in the MBA Program Office. For detailed information on course offerings at other graduate programs of the University of Pennsylvania, you should contact the individual schools. The department or school offering the course decides whether you are allowed to enroll and whether auditing is an option. You will be graded according to the Wharton grading system. You can register for non-Wharton courses in 300 Jon M. Huntsman Hall. Course credit for classes outside Wharton (for example, the Law School) may not always transfer on a one-to-one basis. Students should verify credit transfer with advisors in the MBA Program Office.
LANGUAGE STUDY
You may earn credit toward the MBA degree by taking a language course at the University. Generally, degree credit is offered only for language course work completed at the advanced or business level (subject to the limit that no more than four courses may be taken outside the Wharton School). You are encouraged to learn a new language or to polish skills at an intermediate level, but introductory and intermediate classes cannot count toward the nineteen-credit unit requirement of the MBA degree. You may use the 2.0 surplus credit units* to take a language course at the University at any level. (This formula does not apply to all Dual Degree candidates; please see the Dual Degree Section). Language courses are offered by the University’s School of Arts and Sciences and also through the Penn Language Center.
*i.e. the difference between the maximum allowed over the four semesters (21cu without extra tuition) and the minimum needed for the degree (19cu)
English Language Programs
If you are an international student you have already demonstrated proficiency in English. However, you may desire additional language training or exposure to the U.S. culture. For first-year students, the English Language Program offers the Summer Institute for International Business Students. This program immediately precedes the Wharton Pre-Term and is specifically designed to prepare you for the linguistic and academic demands of MBA study. In addition, you may enroll part-time or full-time in the Intensive Program, which is taught in eight-week sessions throughout the year. You can also take evening classes to improve your English in specific skill areas, such as report writing and oral communication. For more information contact the English Language Programs, 110 Fisher Bennett Hall, 3340 Walnut Street, telephone: 215.898.8681, fax: 215.898.2684, email: elp@sas.upenn.edu.
MAJORS
All MBA students are required to fulfill the course requirements of at least one major. The program offers 18 MBA majors. Five credit units, specified by the academic department, are required for most majors. (See individual department listings for the requirements of various majors.) To have a course outside the approved list of requirements count toward your major, you need the approval of the faculty member designated as the major advisor in the relevant department. Your major(s) will be indicated on your official transcript.
Upon entry to the MBA program, your major is what you have specified on your admissions application. Subsequent changes in a major must be submitted to the MBA Program Office in 300 Jon M. Huntsman Hall. Since your interests may change, you should not be overly concerned with major requirements until the second year. Advisors in the MBA Program Office are available to help you plan your academic program
Individualized Majors You may find that your areas of interest do not fit within the standard majors at Wharton. In this case you may plan an individualized major as an alternative to the existing majors. Wharton offers this option for students who have specific, carefully determined interdisciplinary interests and wish to acquire depth in an area not adequately covered by any of the existing majors. To pursue an individualized major, you must propose a theme, course plan, and title for the major and describe how the proposed courses address the theme. You should submit this proposal (on a form available in 300 Jon M. Huntsman Hall and on the MBA Program website) to a faculty member for approval and then file it with the MBA Program Office.
Please contact an advisor in 300 Jon M. Huntsman Hall (or check the MBA Program website) to see examples of recently approved individualized majors.
Multiple Majors
If you pursue more than one major, you must complete the requirements for each major. With permission of faculty from each department, you may complete a single Advanced Study Project as the capstone to more than one major. In such cases, the ASP must contain sufficient material to satisfy the separate requirements of the respective departments. Generally, a course that is eligible for two majors may count for both majors. Additionally only two credit units may be counted from one major to another.
Joint Majors
Joint majors are designed to provide integration across multiple functional areas. These majors are supervised jointly by participating departments. The school currently offers one joint major in Marketing and Operations Management that requires 7.5 credit units.
COURSE LOAD
Course load in the MBA program is measured in credit units. A full-semester course, meeting twice a week in one-and-a-half hour sessions over the entire semester, is counted as one credit unit (1.0 cu). A half-semester course, meeting twice a week in one-and-a-half-hour sessions over a six-week term, is counted as one half of a credit unit (0.5 cu).
The Wharton MBA degree requires 19 cu of graduate level courses, but allows up to 21 cu to be taken without incurring additional tuition charges. Thus, the typical course load in any semester is approximately 5 cu.*
The structure of the MBA program allows you to complete the core requirements at two different speeds. Those with strong quantitative skills who wish to complete the core in the first year might prefer to take Corporate Finance (FNCE 601 or FNCE 621) in their first semester of the MBA program and Macroeconomics and the Global Economic Environment (FNCE 602) in the second semester. The heavy workload in core courses and transition to the rapid pace of the academic program at Wharton often require a period of adjustment. Those new to business education or without strong quantitative skills might prefer to delay Corporate Finance (FNCE 601) to spring of the first year and FNCE 602 (Macroeconomics and the Global Economic Environment) to the first semester of the second year. Regardless of the schedule that you follow, you must take Financial Accounting (ACCT 620/621) in the first semester. Managerial Accounting (ACCT 622) may be delayed to the third semester with permission from an academic advisor. You may not take any elective in the first two semesters unless you have enrolled in the core requirements for that semester. That is, you cannot delay a core course to take an elective. The exception to this policy is that students who delay a 1.0 cu core course may take one 0.5 cu elective in that semester.
Relative to the 19 cu required for graduation, taking the full complement of core courses, 10 cu, amounts to front loading your academic program. However, any credits you do not consume in the first year are still available in the second, so there is no reason to front-load your course work. If you have waived 1.0 cu or less of core coursework, we advise you not to replace the waived course(s) with electives in the first year.
Because of the extensive use of half-credit courses in the core curriculum and the program’s policy of allowing waivers in core courses, you may need to carry unbalanced loads across semesters. To discuss your individual course plans, please make an appointment with an academic advisor in the MBA Program Office.
OVERLOAD POLICY: : If you have a strong academic record, and wish to take more than 6 cu per semester, you may petition the MBA Program Office for permission. You must be in good academic standing and must demonstrate the ability to handle the extra workload. Course overloads may result in additional costs if you end up taking more than 21 cu in total.
REGISTRATION
You must register for all courses through the Wharton Graduate Division’s MBA Program Office. We describe the registration process in MBA Bulletins that we send you during the academic year. You will register for courses each semester (and simultaneously for the two quarters that constitute the semester). We will register you for almost all of your MBA core courses (the exceptions are noted in the bulletins). Section assignments in core courses are based on your cohort and generally cannot be changed. Wharton uses an auction-based process for registration in MBA electives. When you enter the program you are given an initial endowment of points to use as currency to bid for seats in these courses. The registration process for each semester consists of multiple rounds of the auction during which you make course selections. You will receive details about the auction process upon your arrival on campus. You will also find information about the auction on the MBA Program website.
Last Day to Drop Classes
As described in the MBA Bulletins, the course registration process comes to an end with the last round of the auction. Course instructors must approve any changes to enrollment after that. Each term, the MBA Program Office will announce the last dates on which full or half semester courses may be dropped. Students may receive a “W” on the transcript for certain courses dropped outside the auction registration system. The last date to drop any non-Wharton courses is listed in the University timetable for that term (or available online through the Registrar’s Office).
Auditing
On the fourth day after the auction closes, you may register to audit Wharton electives if the class closed with seats available and the instructor gives permission. Availability is on a first-come, first-served basis and is open to Wharton and non-Wharton students. If you elect to audit a course, you may not later enroll in it for credit, either in that or any subsequent term; if you elect the course on a graded basis, you may not later enroll in it as an auditor in that or any subsequent term. Audited courses are noted on the transcript and count toward the 21 cu maximum course load but will not count towards the 19 cu graduation requirement. Audit permission forms are available in the MBA Program Office and on the MBA Program website.
MATERIALS
Required and optional materials for each course are typically outlined in that course’s syllabus. Assigned textbooks will be available in the Penn Bookstore at the corner of 36th and Walnut Streets. Many courses also require coursepacks, which are sold by Wharton Reprographics, 400 Steinberg Hall-Dietrich Hall. For all materials, check the return policies carefully.
For some courses, professors put material on reserve at the reserve desk in Lippincott Library. In addition, instructors often use webCafé (an online course delivery system) to provide required and optional reading assignments.
ACADEMIC ADVISING
The advising staff in the MBA Program Office will help you construct an individual program and make informed choices about majors and courses. The office also guides you through the registration process and curriculum requirements by means of periodic communications (such as the MBA Bulletins and weekly email messages), information sessions, and individual advising sessions. You can make an appointment with an academic advisor by coming to the MBA Program Office, 300 Jon M. Huntsman Hall, by calling 215.898.7604, or by emailing us at: mbaprogram@wharton.upenn.edu.
Faculty Advisors
Academic advice is also available through each of the academic departments. The departments have MBA faculty advisors who give advice about majors and course planning. The list of MBA faculty advisors for 2007-2008 appears on the following pages listing major requirements and on the inside back cover of this Guide. We also encourage you to consult any faculty member for advice.
Tutoring
Faculty members and course teaching assistants are available for course-related assistance during their office hours. Many students also get a great deal of help in learning specific subjects from fellow classmates or doctoral students who have more background in these areas. Should you need more individualized assistance with a specific subject, the MBA Program Office offers a web-based service, Tutor@Wharton, to match students with peer tutors. This service is available through the MBA Program Office website.
Course/Faculty Evaluations
At the end of each course, you will complete a form evaluating the course and its instructor. The results of these evaluations are used for faculty compensation, promotion and tenure decisions, and future course assignments. Due to the importance of these evaluations for both faculty and students, we urge you to take this process very seriously each semester. Summary results for elective courses are also posted on the MBA Program Office website and the auction interface to help you during the course selection process.
SUMMER SESSIONS
There are two six-week sessions offered each summer. The first session begins after Spring final exams and runs through June. The second session begins in early July and runs through mid-August. You should be aware that Wharton offers relatively few courses in the summer sessions and financial aid is not available for summer studies. Summer study may also interfere with holding a summer job, which is a valuable part of the MBA experience. In early April, the MBA Program Office will post the list of courses that will be offered. You may register for summer courses during the Advance Registration period in the Spring semester (these dates are posted on the University Registrar and the MBA Program Office website). Summer sessions are not available to students who have graduated in the previous May, even if the credit units would fall within the 21 credit units allowed under tuition rules.
INTERNATIONAL PROGRAMS
Global Immersion Program
The Global Immersion Program begins in Quarter 4 of the first year and registration is handled though the spring course registration auction. The centerpiece of this half-credit unit elective is a four-week immersion experience in one of several regions of the world immediately following the Spring semester final exams. Programs have recently been offered in Southeast Asia, China and South America. The program offers students the opportunity to learn about a foreign business environment through academic lectures and visits with corporate leaders and government officials. Weekly classroom sessions at Wharton during Quarter 4 prepare you for the immersion experience. A research paper is due at the beginning of the second academic year. The cost of this program is separate and in addition to the normal tuition fee. A more detailed course description is available on the MBA Program Office website under the International Programs link.
Global Consulting Practicum
The Global Consulting Practicum is a cross-functional, globally-oriented program designed to enable students to apply the concepts and tools learned in the classroom toward a real world experience. Wharton students work in teams with students from other business schools in Israel, Chile, Colombia, China and Peru. The Practicum is a full semester course taken in the spring of either the first or second year, although it is more valuable as a capstone experience in the second year.
International Exchange Programs
Students enrolled in the MBA Program have the option of applying to spend a semester or, in some cases, a half-semester at an exchange school in one of 14 countries. Exchange schools are located in Australia, Brazil, China, the U.K., France, India, Italy, Japan, the Netherlands, the Philippines, Singapore, Spain, Sweden and Thailand. During the exchange periods, which may be the Summer, Fall or Spring, students earn elective credits. These credits may not count toward core requirements. Those students wishing to count exchange credits towards completion of requirements for a major must obtain departmental permission before the exchange program begins. Information sessions about the international exchange program are held in September and February. Applications for the limited number of slots are submitted in mid-March for fall semester exchanges and in late October and mid-February for spring and summer exchanges. Selection and designation of exchange participants is completed by the end of March and will be based on a personal essay and academic performance. Further information is available on the MBA Program Office website under the International Programs link.
DUAL-DEGREE PROGRAMS
The University of Pennsylvania has excellent graduate programs outside of business and makes it possible for students with interdisciplinary interests to work toward two degrees simultaneously. Students enrolled in an approved dual-degree program can count up to four credit units of courses from the other program towards the MBA degree (an arrangement usually reciprocated by the other program). This arrangement applies to approved dual-degree programs only.
For each of the designated dual-degree programs, students must satisfy independent admission requirements of both the Wharton School and the other school involved. This means that the appropriate standardized tests, such as the LSAT or GRE, a completed application form, transcript, and recommendations, must be sent to the other school. Exception: MBA/MA (Lauder) is a joint program and thus MBA/MA (Lauder) students apply using the joint application and are admitted to the joint program. The approved joint and dual-degree programs available include the MBA/MA programs with the Lauder Institute of Management and International Studies, and with Johns Hopkins University’s Nitze School of Advanced International Studies, as well as dual-degree programs with the University’s schools of Engineering [MBA/MSE (Engineering), MBA/MB (Biotechnology)], Law (MBA/JD), Medical Sciences (MBA/MD, MBA/DMD, MBA/VMD), Nursing (MBA/MSN, MBA/PhD), the School of Design [MBA/MArch (Architecture), MBA/MLA (Landscape Architecture), MBA/MCP (City Planning) and MBA/MHP (Historic Preservation)], and Social Work (MBA/MSW, MBA/DSW).
Generally, candidates should apply simultaneously to both components of the dual-degree program, since credits earned prior to matriculation to one component do not count toward that degree. Students should contact the appropriate admissions offices and Wharton’s MBA Program Office for more information.
All dual degree students are expected to schedule a meeting with the dual degree advisor in the MBA Program Office annually to review their course plan, including any core course waiver possibilities, credit limits, and financial implications. Questions about any impact the dual degree program may have on one’s financial aid package can be directed to the MBA Admissions and Financial Aid Office. Additionally, be certain to read the dual-degree information in the Financial Information section (see “Tuition Billing, Rebates, and Surcharges”).