Yale School of Management

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Yale School of Management
Yale SOM Shield
Motto Novus Ordo Seclorum (Latin)
Mission Educating leaders for business and society
Established 1976
Type Private
Endowment U.S. $575 million (2007)
Dean Joel M. Podolny
Faculty 81 (including joint faculty)
Students 468 (MBA)
Location Flag of the United States New Haven, Connecticut, U.S.
Website www.mba.yale.edu

The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers M.B.A. and Ph.D. degree programs. As of spring 2006, 468 students were enrolled in its Master of Business Administration program. The School has 81 faculty members (including joint faculty) and the dean is Joel M. Podolny.

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[edit] About the School

The School conducts education and research in leadership, economics, operations management, marketing, entrepreneurship, organizational behavior, and other areas; its most acclaimed programs are finance and strategic management. The School offers a wide range of graduate-level academic programs and concentrations. The School is known for its finance faculty, emphasis on ethics, and International Center for Finance. The School has also recently added an Executive MBA in Healthcare degree designed for professionals in the health care industry.

The campus includes 19th-century mansions and contemporary buildings. Donaldson Commons, the school's main dining facility, is named after the founding dean of the School. A planned new campus and main building, at an estimated cost of US $150 million, is scheduled for completion by 2011. On September 17, 2007, Yale University President Richard Levin announced that renowned architectural firm Foster + Partners was selected to build the new campus.

[edit] History

The School was founded in 1976 by William H. Donaldson, founder of Donaldson, Lufkin & Jenrette and former Chairman of the Securities and Exchange Commission, as the Yale School of Organization and Management. The funds to establish the School materialized when Frederick William Beinecke, a Yale College alumnus, left US $15 million to Yale in 1971. The School awarded its first graduate business degrees in 1978 and was renamed the Yale School of Management in 1994.

[edit] Deans

Name Years as Dean
1 William H. Donaldson (1976–1980)
2 Geoffrey C. Hazard, Jr. (1980–1981)
3 Burton G. Malkiel (1981–1988)
4 Michael E. Levine (1988–1992)
5 Paul MacAvoy (1992–1994)
6 Stanley Garstka (1994–1995)
7 Jeffrey Garten (1995–2005)
8 Joel M. Podolny (2005–Present)

[edit] Integrated Curriculum

For the 2006-2007 academic year, the School introduced its "Integrated Curriculum," an effort to move away from the typical "siloed" teaching approach to a more functional and integrated perspective.[1] In their first year, students will examine various roles that people and organizations play and how they affect a business. Internal roles include employee, operations engine, finance manager, and innovator. External roles include investor, customer, competitor, the State and society. First-year students will take at least one elective and are required to spend two weeks studying abroad, meeting with business leaders and government officials in Brazil, China, India, or elsewhere. The second-year curriculum comprises electives. The new curriculum is unique among those offered by leading business schools.[2]

[edit] Admissions and rankings

Admission to the School is very competitive; for the class of 2009, 14.7% of applicants were admitted, making it the most selective year ever for SOM. Yale is consistently ranked among the top MBA programs in the world. As of March of 2008, it is ranked #8 by Forbes, #13 by US News, #8 by the Wall Street Journal, #19 by BusinessWeek, #13 in the United States by The Economist and #9 in the United States by Financial Times.

[edit] Student life

Students at the School, like all Yale University students and alumni, are called "Yalies." They operate more than 50 MBA student clubs. There are career-oriented clubs such as Finance, Private Equity, Biotechnology, Investment Management, Technology, Marketing and Consulting. There are also athletic clubs including soccer, crew, skiing, and squash. SOM participates in the coed MBA ice hockey tournaments during winter months. The Yale SOM Cup soccer tournament is held in October and attracts clubs from numerous top business schools. Each November, many students attend the Harvard-Yale football game (known as "The Game"), the location of which alternates each year between New Haven and Cambridge. The weekend's activities include the Harvard-Yale Leadership & Ethics Debate, an annual contest between the two schools' MBA students.[3]

[edit] Research and endowment

The School is home to the following research centers:

The School's endowment fund, valued at US $575 million in 2007, is part of the larger Yale University endowment. The endowment is primarily used according to the donors' wishes, which include the support of teaching and research. Yale University endowment fund manager David Swensen has generated exceptional investment returns over the past two decades.[4]

[edit] Joint-degree and scholarship programs

The School's joint-degree programs include the MBA/JD with Yale Law School, MBA/MD with Yale School of Medicine, MBA/PhD with Yale Graduate School of Arts and Sciences, MBA/MEM with Yale School of Forestry and Environmental Studies, MBA/MArch with Yale School of Architecture, MBA/MFA with Yale School of Drama, MBA/MDiv or MBA/MAR with Yale Divinity School, MBA/MPH with Yale School of Public Health, MBA/MA in International Relations with Yale Graduate School of Arts and Sciences, and MBA/MA in Russian and East European Studies with Yale Graduate School of Arts and Sciences.

The School also offers the Silver Scholars Program for exceptional college seniors.

[edit] Prominent faculty

  • Nicholas Barberis - behavioral finance expert
  • Zhiwu Chen - Director of Research, Partner, and co-founder of Zebra Capital Management, LLC, an equity hedge fund management firm; authority on securities valuation, emerging markets, and China's economy and capital markets
  • David M. Cromwell - former president and CEO of JPMorgan Capital Corporation
  • Ravi Dhar - Director, Center for Customer Insights at the Yale School of Management; expert in marketing strategy, branding and marketing management
  • Frank J. Fabozzi - Editor, Journal of Portfolio Management; prolific investment book author
  • William Goetzmann - behavioral finance authority; Director, International Center for Finance at the Yale School of Management; co-author, Modern Portfolio Theory and Investment Analysis
  • Roger G. Ibbotson - Chairman, Chief Investment Officer, and co-founder of Zebra Capital Management, LLC, an equity hedge fund management firm; founder of Ibbotson Associates (a division of Morningstar, Inc.); financial markets expert and co-author of Global Investing
  • Jonathan E Ingersoll Jr. - co-developer of the Cox, Ingersoll, Ross Model for equilibrium asset pricing; recipient of the IAFE Financial Engineer of the Year award (2002)
  • Owen Lamont - Portfolio Manager, DKR Fusion Management, LP, a market-neutral equity hedge fund established by DKR Capital; behavioral finance and stock market expert
  • Andrew Metrick - specialist in venture capital, private equity, and decision-making under uncertainty; author of Venture Capital and the Finance of Innovation
  • Barry Nalebuff - game theory specialist; co-founder of Honest Tea, Inc., a fast-growing beverage company
  • Sharon Oster - competitive strategy authority; author of Modern Competitive Analysis
  • Matthew Spiegel - Executive Editor, The Review of Financial Studies, a prestigious academic journal published by Yale SOM
  • Robert Shiller - behavioral finance expert; Chief Economist and co-founder of MacroMarkets, LLC, a financial markets firm; author of Irrational Exuberance, Market Volatility, The New Financial Order: Risk In The 21st Century, and Macro Markets
  • Jeffrey Sonnenfeld - President and founder, The Chief Executive Leadership Institute
  • Shyam Sunder - a world-renowned experimental economist and accounting theorist
  • David Swensen (adjunct) - Yale University Chief Investment Officer; manager of US $18 billion university endowment portfolio; developer of the Yale Model of investing; author of Pioneering Portfolio Management
  • Arthur Swersey - specialist in production and inventory management, quality management, and mathematical modeling
  • Martin J. Whitman (adjunct) - Chairman, Chief Executive Officer, and Chief Investment Officer of Third Avenue Funds; author of The Aggressive Conservative Investor and Value Investing

[edit] Prominent alumni

Harkness Tower, situated in the Memorial Quadrangle at Yale
Harkness Tower, situated in the Memorial Quadrangle at Yale

Also see: List of Yale University people

[edit] Notes

  1. ^ MBA curriculum changes at Yale and Stanford. The Economist Magazine. Retrieved on 2007-06-08.
  2. ^ M.B.A. Programs Blend Disciplines To Yield Big Picture. Wall Street Journal. Retrieved on 2007-06-29.
  3. ^ Annual HBS-Yale MBA Leadership Debate. The Harbus. Retrieved on 2007-06-27.
  4. ^ The Money Game. Fortune Magazine. Retrieved on 2007-06-08.

[edit] See also

Wikimedia Commons has media related to:

[edit] External links


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