New academic programs launched in finance, big data and entrepreneurship
This academic year, the Mike Ilitch School of Business launched several new programs.
Master of science in finance
The master of science in finance (M.S.F.) program is designed for both recent graduates and working professionals with a bachelor's degree in finance, accounting or another quantitative field who want to advance or shift their careers. The 10-course, 30-credit degree can be completed in as little as a year of full-time study (fall, spring/summer and winter), or be completed in five semesters on a part-time basis. Students will be equipped with tools, ideas and frameworks to excel in careers in the dynamic field of finance.
The curriculum integrates theories and applications from economics, accounting, mathematics, strategy and other fields, and incorporates a significant portion of the content of the Chartered Financial Analyst (CFA) level 1 exam. The CFA is the most prestigious license in finance and is widely accepted as the industry standard for investment professionals.
When the new Mike Ilitch School of Business building is opened in the District Detroit in 2018, many MSF classes will be held in the planned Trading Room, which will be equipped with state-of-the-art hardware, Bloomberg terminals, access to databases and other software programs to deliver a working knowledge of the tools and techniques used in industry today.
Master of science in data science and business analytics
A new, highly innovative master of science in data science and business analytics (MSDSBA) program will be offered jointly by the College of Engineering and the Mike Ilitch School of Business beginning in fall 2017.
The novel and interdisciplinary MSDSBA program is designed to give graduates a balanced core of computing, business, statistics and operations research skills to identify, analyze and solve analytics problems. The program offers specialized training in order for students to integrate those skills in an interdisciplinary fashion, preparing graduates to succeed in various business, industry and government careers.
"The business school's role is to provide a broad perspective to the role and importance of analytics to business," said Mike Ilitch School of Business Associate Dean Toni Somers. "A primary focus is on pursuing 'analytics that matter'— those that are associated with sustainable competitive advantage."
The MSDSBA program requires students to complete a minimum of 30 credits, including 24 credits in coursework and a six-credit practicum final project with industry.
Entrepreneurship and innovation
The 15-credit graduate certificate in entrepreneurship and innovation is designed to provide students with the specialized knowledge and skills required to develop and launch new ventures and lead innovation efforts. This program is primarily designed for individuals working toward or holding a graduate degree who wish to create or grow a new venture, join with others engaged in this effort, or enter the entrepreneurial ecosystem in another capacity to pursue their own career and contribute to the development of our economy and society. Students can add this certificate on to an existing graduate degree program or earn it as a post-graduate student. The program is available to all current graduate students, as well as those holding graduate degrees from Wayne State and other accredited universities.
The M.B.A. concentration in entrepreneurship and innovation emphasizes concept and application, focusing on the successful formation and management of new ventures. The concentration is designed to equip students with the understanding, skills, and experiences needed to translate ideas into reality and develop an understanding of the commercialization potential of their ideas, inventions and discoveries. Students will learn how to solve unique problems associated with innovation, think creatively and critically as they acquire and manage financial and human resources required to sustain the effort to develop, launch and grow a new venture. The emphasis is on the special knowledge and skills required of an entrepreneurial manager and leader. The concentration requires a total of nine credit hours of course work.
The undergraduate certificate in entrepreneurship and innovation was designed by the Mike Ilitch School of Business to provide students with the specialized knowledge and skills to develop and launch startup ventures. The 15-credit certificate is open to students of all majors.
"Entrepreneurs and innovators are critical to the long-term health and prosperity of Detroit's economy, and students are significantly and increasingly interested in avenues that will help them launch their own businesses," said Associate Professor of Marketing Jeff Stoltman, who is coordinating the certificate program. "This new academic offering draws upon Wayne State's existing endeavors in entrepreneurship programming, as well as its already strong investment in the city's bootstrap culture."