SCHOOL OF BUSINESS AND MANAGEMENT
POSTGRADUATE PROGRAMMES IN THE SCHOOL OF BUSINESS ANDMANAGEMENT
Director of MBA and MSc Programmes:
Leonard Kwok-Hon CHENG, BSSc Chinese Univof Hong Kong, MA, PhD Univ of California, Berkeley
(Head and Professor of Economics, and Associate Dean of Business and Management)
MBA Programme
At HKUST, management education is designed to provide students with the skills and tools necessary to direct and manage organisations, whether large or small, public or private, domestic or international, for-profit or not-for-profit, and with a means for envisioning the future and realising objectives. An important component of this education is the Master of Business Administration (MBA) programme. It is available on a full-time and part-time basis.
The MBA programme cultivates the student's ability to deal successfully with the challenges and opportunities presented by continued technological development and globalisation. While providing students with skills and knowledge to operate successfully in today's environment, the programme also prepares them to cope with the challenges of the future. The approach utilised is designed to meet Hong Kong's needs in the transition from a labour-intensive to a technology-based economy. The School of Business and Management builds and maintains close relationships with the professional management community to prepare strongly motivated individuals for highly skilled managerial roles.
Designed to provide a balance between theory and practice and between individual and team approaches to management questions, the MBA programme is structured to provide a broad base of general management skills on which specialised skills may be developed. Thus, both generalists and specialists can meet their individual career preparation goals. Students not only develop analytical and conceptual tools for innovative problem solving, but also build up confidence and develop interpersonal skills to interact effectiviy in difficult and'complex situations. various teaching techniaues and methods. such as lectures. comDuter simulations. case discussions.
and individual and group 'projects, are used to prbvide students with an intellectual as well as an experiential background.
Admission
Applicants for admission to the MBA Programme are expected to have com- pleted a bachelor's degree from a university or approved institution or have obtained qualifications considered by the School to be equivalent to a first degree. For applicants who are employed, their employment history will play a critical role in the admissions process.
em on st rated
proficiency in the ~ n g l i s h language is important for successful completion of the programme.In addition to the documentation required by the University (see page 13), applicants to the MBA Programme must submit the following:
(a) the score obtained on the Graduate Management Admission Test (GMAT) (Note: applicants should instruct the Educational Testing Service to send the score to the School of Business and Management, Hong Kong University of Science and Technology, Code Number 0369); and
(b) the score obtained in the Test of English as a Foreign Language (TOEFL) or the International English Language Testing Service (IELTS) (Note: only for appli- cants who attended educational institutions where the language of instruction was not English and whose first language is not English).
Fees for the 1995-96 academic year
The full-time tuition fee is $30,750 per annum. In addition, it is expected that full- time MBA students will be charged approximately $3,300 per year to cover the costs of residential seminar lodging and meals, photocopying materials and other sundry expenses. Programme fees for part-time students are HK$41,000 per annum, which cover tuition fees, costs of conference centre lodging and meals, expensesfor Saturday luncheon presentations and speakers' honoraria. Fees may be paid at the beginning of the academic year at registration or in equal instalments at the beginning of each semester. In addition, each new student is required to pay a deposit of $300 as caution money on first registration. Charges will be made against this deposit if there are any unpaid claims against the student, such as outstanding library dues. Except for caution money, all fees are non-refundable.
Curriculum
As a programme of professional management education, the MBA curriculum requires rigorous study, creativity and imagination, analytical thinking, problem diagno- sis and solution, and teamwork.
he
MBA-programme aims to providean environment in which students develop competence in functional manaaement disci~lines such as finance, marketing, ~~erations'and technology management, accounti;lg, human re- source management; general management perspectives and an ability to approach situations from the perspective of the entire organisation; a comprehensive understand- ing of organisations and the skills essential to managing and working effectively with people; sophisticated awareness of the complex global, technological, industrial, and governmental environments in which organisations operate; and sensitivity to the economic and social responsibilities of management. Full-time students are expected to complete the programme in two years. Part-time students are expected to finish the programme in three years.The carefully designed curriculum is structured so that students proceed through the required courses in a sequence, to building upon skills and concepts presented in earlier courses. The MBA curriculum has three main components: MBA core, advanced electives, and field study.
The MBA Core
The MBA core provides basic knowledge of management functions that every manager must understand, and builds a foundation for advanced studv in selected areas- Classroom education is balanced by opportunities for practical application using the Hong Kong business community as a laboratory. Core courses provide students
School of Business and Management
with both the functional field and basic conceptual and analytical tools needed to address management problems.
In addition to core courses, special courses and career development pro- grammes are offered throughout the academic year to provide students with insights into business environments and broad industrial experiences. These include tailor- made in-house management seminars on topics such as negotiation skills, leadership, conflict management, career planning; Saturday luncheon presentations where outside business executives are invited for talks and discussions twice a month; and manage- ment communication courses to enhance oral and written skills.
Advanced Electives
Advanced electives, selected from course offerings in several curriculum areas, comprise about a quarter of the MBA programme. They allow students to develop in- depth expertise in accounting, business economics, finance, human resource manage- ment, information management, international business, marketing, management policy, management science, and operations and technology management. Students can choose to concentrate on accounting, information and systems management, econom- ics, finance, management of organisations or marketing.
Accounting plays an important role in financial communication and control within an enterprise, and between the enterprise and the investor. It also provides an essential tool with which society and government evaluate and control economic behaviour. Students may choose to follow a public accounting stream and pursue a career in auditing, taxes: or administrative consulting sewices; or the management1 comorate accountina stream. where students focus on internal audits, and systems and prdcedures studies.-whichever path they choose, MBA graduates with anaccounting emphasis are likely to enter careers in high-level management in corporations, account- ancy firms, government, and not-for-profit organisations.
Problem-solving in the practice of business management requires a firm theoretical base in economics. In private firms, managers are guided by economic principles in making decisions on almost all aspects of their business such as produc- tion, investment, employment, budget forecast, and marketing choices. In public agencies, managers likewise rely on economic analyses in their design, determination, and assessment of public policies. MBA graduates who choose the economics emphasis will serve both the private and public sectors in a wide range of management positions.
Finance provides a study of issues in corporate finance investments, financial markets and institutions and the international financial svstem. A~~lications in this area of study include the functioning of the securities market, po;tfolio management, management of banks and insurance companies, and multinational finance. MBA graduates in finance are equipped to work in corporate financial divisions, commercial banks, investment houses, and private and public research institutions.
Information and Systems Management covers two major areas of study:
Information Systems and Management Operations. Information systems play a central role in integrating the communication, data processing and information process- ing across all functions in an organisation. They not only support current application requirements, but also enable the transformation of organisation work and human organisation to meet the everchanging demands of the marketplace. Managing this process requires a broad range of skills from the highly technical to the strategically
business-oriented. Students who choose information systems as their concentration will be prepared to enter careers involving the development and marketing of informa- tion products and services, as coroporate managers; entrepreneurs, or management consultants. Management Operations includes both manaaement science and operations and technology management. Management science gays an important role in managerial decision making by applying the formal scientific methods of analysis and synthesis. Areas of study include model building, probability theory, simulation and optimisation methods. Students may either choose atheoretical orientation or apply the concepts to a particular area of interest such as finance. Operations and technology management emphasise managerial decision-making in production or operations and its inter-relationships with other organisational activities such as strategy planning, inventory management, and project management and control.
Management of Organisations covers many areas of contemporary manage- ment thought and practice. Students can explore current issues facing general managers today: executive development and leadership, management of human resources, strategy formulation and- implementation,
corn-parative
management sys- tems. and international business. MBA araduates with em~hasis on manaaement will be equipped with modern management concepts and toolsio serve in a broad range of managerial positions in areas such as general administration, corporate development, strategic planning, human resources, and project management.The marketing function is crucial to the health and survival of any organisation.
With basic concepts of marketing operations and strategic planning, managers can help an organisation to decide which consumer groups it should serve, which products or services it should produce, as well as the levels of promotional effort, pricing and other considerations in sales promotion. MBAgraduates in marketing assume positions in brand management, product management, new product development, sales force management, advertising and marketing research.
Field Study
As the capstone requirement of the MBA programme, second-year full-time students and third-year part-time students participate in a field study. The study provides students with an opportunity to integrate and apply their accumulated skills in a professional setting outside the classroom. Working in teams under the guidance of faculty advisors, students conduct a thorough study of a client organisation, including diagnosis, evaluation, and solution of some of its most critical management problems.
Each field study team submits a written report summarising its work and also presents its findings orally to the client. The field study report satisfies the comprehensive examination requirement for the MBA degree. Field study performance is evaluated using the standards of professional consulting.
Concentrations
The School provides students, both full-time and part-time, with the option of studying for a general MBA programme or a concentration in a department. For the latter, in addition to completing the MBA core courses, a minimum of ten credits of electives specified by the relevant department are required. Those who do not meet the requirements of specific departments may declare ~ a n a ~ e m e n t as their concentration.
All full-time MBA students must also satisfv a distribution reauirement of eiaht credits "
of electives outside their concentration.
School o f Business and Mana~ernent
Full-time MBA Curriculum
First Year Fall Semester
(1) ACCT 500 ACCT 501 ECON 511 ISMT 501 ISMT 551 MARK 512 (2) MGTO 521
Accounting Foundations Accounting for Management and
Financial Decisions Managerial Microeconomics Manaaement Information Svstems lntrod;ctory Statistics for ~ i s i n e s s Marketing Strategy and Policy Managerial Problem Solving
18 credits Winter Session
MGTO 545 Managerial Communication [2-0-0:2]
2 credits Spring Semester
ACCT 552 Legal Environment of Business [2-0-0:2]
ECON 512 Managerial Macroeconomics [3-0-0:3]
FlNA 512 Corporate Finance [3-0-0:3]
ISMT 561 Operations and Technology Management [3-0-0:3]
MGTO 523 Management of Organisations [3-0-0:3]
FREE Elective [2 credits]
16 credits Second Year
Fall Semester
MGTO 541 Management Policy [3-0-0:3]
FREE Electives [ I 0 credits]
SB&M 588 Field Study I [2-0-0:2]
(Includes International Business Game)'
15 credits
"International Business Game" may be offered in the Fall Semester or Winter Session.
Spring Semester
(4) SBBM 589 Field Study II
(3) FREE Electives
[3-0-0:3]
[I 0 credits]
13 credits Total core course credits: 42
Total credits: 64
Postgraduate Programmes
(1) Students with an undergraduate degree in Accounting or ACCAIAHKSA Certi- fication should replace ACCT 500 with a two-credit accounting elective.
(2) This course is normally held in mid-August priorto the start of the Fall Semester.
(3) Electives may be two- to four-credit courses.
(4) Students choose one of the departmental field study courses: ACCT, ECON, FINA, ISMT, MARK or MGTO 588 and 589.
Part-time MBA Curriculum
The part-time MBA programme is designed to meet the specialised needs of working professionals and managers. The programme enrols participants who are responsible for a diversity of functions within their organisations, and who have significant responsibility and notable achievements. They are expected to be targeted for complex assignments and career advancement.
The curriculum for the part-time MBA programme is similar to the full-time MBA.
All core courses are required, but eight fewer elective credits are necessary. Partici- pants are expected to share the benefit of their past and on-going work experience with one another while in the programme, and to bring this experience to bear on class discussions and assignments. The educational environment is thereby enriched and part-time MBA students obtain skills and perspectives that extend well beyond theoreti- cal and textbook applications.
First Year Fall Semester
(1) ACCT 500 Accounting Foundations [2-0-0:2]
ACCT 501 Accounting for Management and [2-0-0:2]
Financial Decisions
ISMT 551 Introductory Statistics for Business [3-0-0:3]
(2) MGTO 521 Managerial Problem Solving [2-0-0:2]
Winter Session
MGTO 545 Managerial Communication
9 credits
[2-0-0:2]
2 credits Spring Semester
ACCT 552 Legal Environment of Business [2-0-0:2]
ISMT 502 Highlights in Management Information [2-0-0:2]
Systems
ECON 511 Managerial Microeconomics [3-0-0:3]
7 credits
School of Business and Management
Summer Session
(4) SB&M 589 Field Study II Summer Session
FlNA 512 Corporate Finance [3-0-0:3]
3 credits 3 credits
Second Year
Fall Semester Total core course credits: 42
Total credits: 56 ISMT 561 Operations and Technology Management [3-0-0:3]
MARK 512 Marketing Strategy and Policy [3-0-0:3] (1) Students with an undergraduate degree in Accounting or ACCNAHKSA certi- fication should replace ACCT 500 with a two-credit accounting elective.
(2) This course is normally held in mid-August prior to the start of the Fall Semester.
(3) Electives may be two- to four-credit courses.
(4) Students choose one of the departmental field study courses: ACCT, ECON, FINA, ISMT, MARK or MGTO 588, 589.
6 credits
[I -0-0: 11 Winter Session
MGTO 544 International Business Game
Format and Schedule 1 credit
The format and schedule of the part-time MBA is designed to be compatible with the work demands of responsible, busy professionals. Classes are held in Fall and Spring Semesters and the Summer Session on the University campus on Saturdays beginning at 9 am and ending at 5 pm. Typically, two courses are scheduled for each Semester--one course session to be conducted on Saturday mornings and the second scheduled for Saturday afternoons. During the Summer Session, students enrol in one course only.
Spring Semester
Managerial Macroeconomics Management of Organisations
[3-0-0131 [3-0-0:3]
[2 credits]
ECON 512 MGTO 523
(3) FREE Elective
-
8 credits
To enrich thd learning experiences and widen the perspectives of the students, members of the business community, political leaders, and faculty experts are fre- quently invited to give luncheon presentations.
Summer Session
MGTO 541 Management Policy
--
3 credits Part-time MBA students are also required to attend a two-weekend, five-day residential management core course prior to the start of the programme in the Fall Semester. For part-time MBA students entering in 1995-96, MGTO 521 Managerial Problem Solving will be held in mid-August 1995. Reading assignments will be provided in advance of the course. Students will be provided with homework assignments to be completed in small groups after the first weekend.
Third Year
Elective Fall Semester
(3) FREE [8 credits] The courses scheduled for the Fall Semester will commence on Saturday, 16
September 1995 and follow the regular University schedule for the remainder of the academic year. Regular attendance is an important part of the course requirements.
Each student's input is important as classes are organised for optimum size and diversity of backgrounds to increase the value of class discussion. Students who are absent from a significant number of class sessions will not be awarded course credits.
8 credits Spring Semester
Field Study I * Elective
[2-0-0:2]
[4 credits]
(4) SB8M 588 (3) FREE
Master of Science (MSc) Programme in Accounting 6 credits
Preparatory work for Field Study I (SB&M 588) commences in the Winter Session.
The MSc programme in Accounting primarily aims at preparing individuals for entry into the dynamic professional environment ~ f - ~ u b l i c anb corporke accounting.
Students will acauire the theoretical foundations for onaoina ~rofessional arowth and development in ihe accounting field. The objectives Gf th~s'programme ynclude (1) developing sound conceptual, technical, analytical and communication skills that are
School of Business and Management
required to succeed in the accounting and accounting-related professions; (2) broaden- ing career options for students formerly trained in other disciplines; and (3) providing a framework and an opportunity for students to understand and engage in academic and professional research. The programme can be completed in one year forthose students admitted with appropriate background in business studies.
Admission Requirements
The minimum entrance requirements are:
1. A satisfactory score on the Graduate Management Aptitude Test (GMAT);
2. Afirst degree from an approved institution, or an approved equivalent qualifica- tion;
3. At least six credit hours of accounting courses; and
4. A satisfactory score on the Test of English as a Foreign Language (TOEFL) or the International English Language Testing Service (IELTS) for applicants who attended educational institutions where the language of instruction was not English and whose first language is not English.
In addition to the above requirements, past academic performance, work experience, and demonstrated leadership quality will also be taken into consideration.
Students who do not satisfy the third requirement can be admitted on a probationary basis but must fulfil this requirement within the first semester.
Curriculum
The MSc in Accounting curriculum is composed of four parts:
1. A background core for students without prior background in accounting or business;
2. A theory core for all students;
3. A track core for students to develop expertise in a specialised area; and 4. A set of accounting and business electives to broaden students' horizons.
(a) Background Requirement
Accounting Background Core (0 credit) ACCT 101 Financial Accounting ACCT 122 Managerial Accounting Business Background Core (15 credits)
Business-related courses in Economics, Marketing, Finance, Organi- sation Behaviour, Human Resources, Business lnformation System, Operation Management, General Management, Statistics, and Management Science.
(b) Theory Core (12 credits)
ACCT 531 Managerial Control System ACCT 581 Accounting and Capital Markets
Postgraduate Programmes
ACCT 682 Seminar in Accounting Theory I ACCT 683 Seminar in Accounting Theory II ACCT 691 Accounting Research Project I
(c) Track core for Various Specialisations Accounting Consultancy Track
ACCT 51 1, 512,515 ISMT 529,531 ECON 511
Accounting Controllership Track ACCT 51 1, 512,514,515,552 ECON 511
ISMT 561
Financial Accounting/Auditing Track ACCT 51 1,512,513, 514,515,532,552 FlNA 512
(d) Accounting and Business Electives
ACCT 511,512,513,514,515,531,532,552,561,581,682,683,691,692 ECON 51 1,512,521,522,525,530,535
FlNA 512,521,531,541 ISMT 529,531,553,554 MARK 512
MGTO 523
Graduation Requirements
Acandidateforthe MSc in Accounting degree must complete a total of 55 credits and meet the following requirements:
1. Completion of at least 40 credits of graduate SB&M courses with a B average, including 12 credits of Accounting Theory Core and at least 7 additional credits of Accounting electives;
2. Completion of at least 15 additional credits of business background core courses in Economics, Marketing, Finance, Organisation Behaviour, Human Resources, Business lnformation System, General Management, Operation
2. Completion of at least 15 additional credits of business background core courses in Economics, Marketing, Finance, Organisation Behaviour, Human Resources, Business lnformation System, General Management, Operation