Tepper School of Business

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The Tepper School of Business at Carnegie Mellon, located in Pittsburgh, Pennsylvania, consistently ranks among the top business schools in the world^[4][5]. It is also consistently among the leaders in a wide range of specializations, such as Finance, Entrepreneurship, Operations Management and Information Technology. In March 2004, the school received a record $55 million gift from alumnus David and Marlene Tepper. In recognition of this gift, the school was named the David Tepper School of Business at Carnegie Mellon.

Contents 1 History[6] 2 Programs 3 International Study 4 Research Centers[15] 5 Rankings[16] 6 See Also 7 References 8 External links

[edit] History^[6]

Since its founding as the Graduate School of Industrial Administration(GSIA) in 1949, by William Larimer Mellon, the Tepper School of Business at Carnegie Mellon has distinguished itself by developing the scientific principles that underlie business management. It has quickly grown into one of the world's premier centers for teaching and research in business management.

Many of the Tepper School's educational innovations have now been adopted by other national and international business schools. For example, the Tepper School's Management Game pioneered the use of computer simulation for experiential learning of business roles, and such simulations have subsequently been eagerly adopted by other institutions. Today, the FAST laboratory is a continuation of the Tepper School's pioneering work in experiential learning.

The Tepper School's faculty have won wide acclaim for research which spans all of the functional areas of business, and economics. The school has also produced six Nobel Prize winners in Economics: Robert Lucas, Merton Miller, Franco Modigliani, Herb Simon, Edward Prescott and Finn Kydland. Lucas was awarded the prize for his pioneering work on rational expectations theory and its implications for government macroeconomic and regulatory policies. Modigliani's prize recognized his path-breaking life-cycle theory of consumer savings, an important component in all modern macroeconomic models. Miller's prize was awarded in recognition of his contributions to corporate finance through the Capital Asset Pricing Model now taught in every business school in the country. Simon's prize was given for his seminal development of the idea of bounded rationality in economics, and the need to focus on human behavior as well as markets in order to understand the workings of a large industrial economy. In 2004, Kydland and Prescott became the latest Nobel Prize recipients from the business school. Their work together advanced the field of dynamic macroeconomics and transformed economic research.

[edit] Programs

Undergraduate Business

Tepper offers a traditional four year undergraduate degree in business. Students can major in^[7]:

• Computing and Information Technology
• Finance
• General Management
• Graphic Medical Management
• International Management
• Manufacturing Management and Consulting
• Marketing
• Entrepreneurship

For the academic year ending in May 2007, there were 475 ^[8]total students enrolled in the undergraduate program.

Undergraduate Economics^[9]

The Undergraduate Economics Program is jointly administered by the the Tepper School of Business and the Carnegie Mellon College of Humanities and Social Sciences. It has been designed to prepare students for careers as economic analysts in either the private or public sector, for advanced professional studies in business, law and public policy, as well as for entry into Ph.D. programs in economics, finance, and related fields.

MBA

The MBA program is primarily a two-year, full-time program, with most students completing an internship in the summer between the first and second year of study. An early graduation option is available, which allows full-time students to complete their studies in 16 months. Working professionals in the Pittsburgh area may also complete the MBA degree in the evening, as members of the flex-time program.

The mini-semester system splits the typical semester in half, creating four mini-semesters per academic year. Each mini-semester is 7.5 weeks long, and students typically take 4 different courses each mini-semester. This enables students to gain exposure to a wide range of topics, as well as many unique courses, as they may take more than 32 different courses while students in the MBA program.

The MBA curriculum is designed to evolve in complexity and business application throughout students' time at the school. Year One builds upon fundamentals and skill sets in the core disciplines, including Finance, Operations, Marketing, Strategy, Organizational Behavior and Technology. Year Two advances the theory and strategic application to provide breadth and depth in areas that support corporate strategy and general management with the completion of three to four concentrations in specific functional areas.

The General Management MBA Track, the Core MBA degree, serves as an umbrella academic option due to the flexibility associated with multiple concentrations. The General Management MBA Track complements the eight other Tepper MBA Tracks that include: Biotechnology, Computational Marketing, Entrepreneurship, Integrated Product Development, International Management, Operations Management, Operations Research, and Wealth and Asset Management.^[10]

Tepper offers the following joint and duel MBA degrees^[11]

• Computational Finance
• Software Engineering
• Healtcare Policy and Management with the Heinz School
• Juris Doctor (Law) with the University of Pittsburgh
• Public Policy and Management with the Heinz School
• Civil and Environmental Engineering

For the academic year ending in May 2007, there were 302 total students enrolled in the full time MBA program.

MS Computational Finance

Carnegie Mellon's intensive, Master of Science in Computational Finance (MSCF) is considered by many to be the top quantitative finance program in the country.

The MSCF program offers a sixteen month, full-time degree program, a thirty-three month part-time degree program, and four non-degree certificate programs. Certificate students focus on one "stream" of the MSCF degree curriculum: Math, Statistics or Financial Computing.

Degree students are taught the institutional issues of finance, traditional finance theories of equity and bond portfolio management, the stochastic calculus models on which derivative trading is based, the application of these models in both fixed income and equity markets, computational methods including Monte Carlo simulation and finite difference approximations of partial differential equations, and statistical methodologies including regression and time series, culminating with courses on statistical arbitrage, risk management and dynamic asset management. In the initial stages of the program, C++ is taught and students subsequently create software in several courses. The program concludes with a sophisticated financial computing course.

Twenty full-time faculty instruct 35 full-time students in Pittsburgh and 70 full and part-time students in the financial district in New York City.

The primary mode of instruction for the New York campus is live, interactive video. Lectures are "captured" and made immediately available to students via the internet. Faculty teach twice every seven weeks in New York at which times the students are invited to join the professor for lunch after class.

MS Quantitative Economics

In the fall of 2003, the program began enrolling students. This degree is currently offered only to Carnegie Mellon undergraduates.

Doctoral Program

The Tepper School of Business offers the Ph.D. degree in eight different areas^[12]

• Accounting
• Economics
• Financial Economics
• Information Systems
• Manufacturing and Operating Systems
• Marketing
• Operations Research
• Organizational Behavior and Theory

The school also offers the Ph.D. degree jointly with other colleges in the University in the fields of

• Algorithms, Combinatorics, and Optimization (joint with Mathematics and Computer Science)
• Economics and Public Policy (joint with the Heinz School of Public Policy and Management)
• Management of Manufacturing and Automation (joint with the Robotics Institute)
• Mathematical Finance (joint with Mathematics)

All doctoral candidates receive full tuition, plus a stipend for three years, through the William Larimer Mellon Fund.

Executive Education^[13]

In addition to customizable executive programs, the Tepper school offers three executive education events for the 2007 calendar year:

• Operations Executive Series
  • Three focused executive education programs that offer comprehensive coverage of the people, process and technology management capabilities that drive operations excellence.
• Global Leadership Executive Summer Forum
  • In conjunction with the Carnegie Bosch Institute, an intensive four week program addressing key issues of srategy and leadership while aso presenting topics of broad economic and international scope.
• Management in Technology Organizations
  • Best practices in managing technology professionals, enhancing leadership skills and driving innovation.

[edit] International Study

Carnegie Bosch Institute

The Carnegie Bosch Institute (CBI) is an alliance between the Tepper School of Business at Carnegie Mellon and the Bosch Group, a leading German-based multinational corporation with long-standing operations in North America.

Global Study Abroad^[14]

The International Management MBA Track features an eight-week global experience in which students travel to Western and Eastern Europe to study emerging, transitional and competitive economies. During study abroad, students experience real-world aspects of classroom work through manufacturing tours, presentations at financial institutions, meetings with government and non-governmental organizations as well as the experience of living in an international setting. This program operates in partnership with the WHU-Otto Beisheim School of Management.

Undergraduate business students are also encouraged to explore opportunities to learn about different cultures in which to live and work. Each year students travel abroad as part of a capstone educational experience.

[edit] Research Centers^[15]

Carnegie Bosch Institute for Applied Studies in International Management The Carnegie Mellon Electricity Industry Center Center for Analytical Research in Technology Center for Behavioral Decision Research Center for Business Communication Center for Business Solutions Center for E-Business Innovation Center for Financial Markets

Center for Interdisciplinary Research on Teams Center for International Corporate Responsibility Center for the Management of Technology Center for Organizational Learning, Innovation and Performance Donald H. Jones Center for Entrepreneurship The Gailliot Center for Public Policy Green Design Institute Teaching Innovation Center

[edit] Rankings^[16]

Wall Street Journal Rankings

• #3 Business School (MBA) National

• #1 Top School - Operations Management
• #2 Top School - Information Technology
• #4 Top School - Finance
• #6 Top School - Entrepreneurship
• #6 Top School - General Management
• #7 Top School - Strategy
• #9 Top School - For Recruiting MBAs With High Ethical Standards
• #9 Top School - For Recruiting Minorities
• #1 Energy and Industrial Products Industry Ranking
• #2 Technology Industry Ranking
• #3 Financial Services Industry Ranking
• #4 Health Care Industry Ranking
• #5 Management Consulting Industry Ranking
• #9 Consumer Products Industry Ranking

Business Week Rankings – 2006

• #16 MBA - Overall National Ranking

U.S. News & World Report - 2007 (Graduate)

• #2 Top School - Information Systems
• #3 Top School - Production/Operations Management
  

  

  Average MBA Salary Progression from 1998^[18]
• #5 Top School - Supply Chain/Logistics
• #16 Graduate Business School (MBA)

U.S. News & World Report - 2006 (Undergraduate)

• #5 Undergraduate Business School (BSBA)
• #2 Management Information Systems
• #2 Quantitative Analysis
• #2 Production/Operations Management
• #5 Supply Chain Management/Logistics
• #9 Finance

Forbes – 2005

• #16 Business School (Full-Time MBA)
• #8 Part-time MBA

Financial Times – 2006

• #10 Placement Success (MBA)
• #12 Doctoral Program
• #21 Research
• #41 Business School (MBA)

[edit] See Also

• List of business schools in the United States
• List of Carnegie Mellon University people
• Business School

[edit] References

[edit] External links

• Tepper School of Business

Carnegie Mellon University
Academic Units	Carnegie Institute of Technology (College of Engineering) • College of Fine Arts • College of Humanities and Social Sciences • Heinz School of Public Policy and Management • Mellon College of Science • School of Computer Science • Tepper School of Business