May 30, 2024  
2012-2013 Graduate Catalog 
2012-2013 Graduate Catalog [ARCHIVED CATALOG]

Business Administration

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The M.B.A. program at the Maine Business School is designed to provide students the skills and understanding to achieve long-term success in the complex, rapidly changing, global economy. The program emphasizes experiential, hands-on learning, teamwork, critical thinking, and leadership while still delivering a core set of knowledge in the traditional business disciplines. The University of Maine M.B.A. program produces graduates with practical business skills and a global perspective, but more importantly, produces business leaders who can think strategically and critically, adapt and foster change, inspire and lead, and create and convey a vision.  Please visit our website:

The M.B.A. program consists of 39 credits. There are 33 credits of classroom-based courses and 6 experiential credits – an internship, and an international trip. There are seven core classes covering the major business disciplines, and four elective courses allowing students to choose a concentration or track.  There is also a required one day “orientation” prior to the fall semester and a few required one-day workshops throughout the academic year.

Admitted students may commence their studies on a full- or part-time basis in the fall, spring or summer terms, although most students begin during the fall semester. A  majority of our students complete the MBA program in two years. However, it is possible for full-time students, who have completed the foundation courses or their equivalents, to complete the program of study in less time.

M.B.A. students at the Maine Business School come from varied backgrounds, with undergraduate degrees from more than 40 undergraduate institutions and more than 25 different majors. We have had many international MBA students, representing at least 10 different countries over the past few years.

The Maine Business School M.B.A. is accredited by AACSB International – The Association to Advance Collegiate Schools of Business.

Prerequisite Requirements

Students are expected to have course work completed in financial and managerial accounting, micro and macroeconomics, and statistics. These five courses at the University of Maine include:

  • BUA 201: Financial Accounting
  • BUA 202: Managerial Accounting
  • ECO 120: Micro Economics
  • ECO 121: Macro Economics
  • MAT 215: Intro to Statistics for Business & Economics (or MAT 232, or equivalent)

These may be taken at an AACSB accredited college or university or at the University of Maine prior to graduation from an undergraduate program. Students who have an undergraduate degree are eligible to take two accelerated courses to meet this requirement-BUA 400 combines both financial and managerial accounting, and ECO 410 combines micro and macroeconomics. Students will be required to have a minimum of a B- in all prerequisite courses. Students are also expected to have computer competency, including common word processing, spreadsheet and presentation software.

Students must also have basic knowledge of marketing, management, and finance. These three requirements may be fulfilled through undergraduate coursework, completed with a grade of B- or higher. University of Maine courses are:

  • BUA 370: Marketing
  • BUA 325: Management
  • BUA 350: Finance

or equivalent courses taken at an accredited college or university.
If the student has not satisfactorily completed any of these three courses, the Maine Business School graduate office will administer on-line tutorials, to be completed prior to the semester of admission.

Students intending to complete the Accounting track will also need to have completed the following additional University of Maine courses or their equivalent with a B- or better:

  • BUA 301 – Intermediate Accounting I
  • BUA 302 – Intermediate Accounting II
  • BUA 305 – Cost Accounting
  • BUA 310 – Auditing
  • BUA 312 – Federal Taxation of Individuals


Experiential Requirements

In addition, all candidates for the MBA degree must complete the following two experiential requirements:


The Field Experience/Trip

All students are required to complete a group field experience, usually in an international environment, near the end of the program. In recent years, our students have participated in international study courses in countries such as Japan, Brazil, Germany, France, Bulgaria, China, and the Czech Republic.

  • Credits: 3-4
  • Students will cover the majority of the travel costs of their international trips through a $80 per credit hour course fee, assessed on each MBA course. This fee is in addition to the tuition.  


The Internship/Consulting Requirement

All students will be expected to apply the skills from the program to an organization in a hands-on environment. This may be an internship in a profit-making firm, or a not-for-profit, or being part of a consulting team from the Business School working on a project for a firm.


Candidates for the MBA degree have a choice of several tracks within the MBA program: (Students are allowed to take ONE pre-approved 400 level class.)

Finance Track

Finance Required Courses:

Business & Sustainability Track:

Business and Sustainability Required Courses:

Accounting Track:

Accounting Required Courses:

International Business Track:

International Business Required course: 3 credit hours

Application Process and Requirements

Applications are reviewed on a rolling admission basis, meaning that once the application is complete, the admission evaluation process begins. The application can be completed online or downloaded at  The application includes submission of the following items:

  • Personal essay
  • Three letters of recommendation
  • Current resume
  • Official college transcripts from all schools attended
  • Official score reports from the Graduate Management Admission Test (GMAT) taken within the last five years.
  • For applicants whose native language is not English, official scores from the Test of English as a Foreign Language (TOEFL), taken within the last five years (minimum score of 213 on the computer-based version, 550 on the paper-based version, and 79 on the internet based version).
  • The $65 online application fee may be paid by credit card (Visa, Master Card or Discover), or check / money order made payable to the University of Maine.  Paper applications require a fee of $75.

Application materials should be sent to:

The Graduate School
5755 Stodder Hall, Room 42
University of Maine
Orono, ME 04469-5755

All application materials must be received by June 1 to be considered for fall admission, by November 1 for the spring semester, and by April 15th for summer admission. Completed applications for students requesting financial aid must be received by the January 15 prior to fall semester.

We recommend that prospective students apply earlier if they anticipate needing to complete tutorials or foundation courses (as outlined below under “prerequisite foundation courses.”)

Admission Criteria

Admission to the University of Maine MBA program is competitive. In its admission process, The University of Maine Business Graduate Program considers factors that indicate the potential to successfully complete the MBA program and achieve positions of leadership in the private or public sector. That potential is judged by academic performance, GMAT score, letters of recommendation, communication skills, and work experience.

Academic Performance: Applicants must have a four-year U.S. bachelor’s degree from an accredited college or university, or a four-year international equivalent. In reviewing the academic record, the Graduate Committee considers both the institution attended and curriculum. The average GPA of our students is approximately 3.5.

GMAT Score: Applicants must submit official GMAT scores taken within the last five years. The average GMAT in our program is 550. Students who do not attain a similar score will be rejected or be asked to retake the GMAT exam before their application will be reconsidered.

Exceptions to the minimum requirements are made only if the Maine Business School Graduate Committee feels there is substantial alternate evidence of aptitude for business graduate work. Students who are admitted without meeting all minimum requirements will be “conditional” as specified under Graduate School policies.

Letters of Recommendation: Three letters of recommendation must be included with the completed application. If possible, MBA applicants are encouraged to submit letters from current or former supervisors or those who can comment on work-related responsibilities and accomplishments, career advancement and potential, managerial experience, and future career goals. Meaningful academic references are also acceptable, and are most relevant for recent undergraduates. References should detail your strengths, weaknesses, and potential for academic and managerial success. Recommenders can submit their letters online.

Communication Skills:
Students are required to submit a personal essay as part of their application. The essay is an opportunity for the candidate to describe important attributes not apparent from the rest of the application, and also to convey one’s unique background, character, and ability to add value to the University of Maine ‘s Graduate Program. The essays are evaluated not only for content, but also for writing style and grammar. Interviews are not required for admission to the University of Maine MBA program, but may be requested by either the applicant or the Business School. If requested, candidates will interview with a University of Maine Graduate Program representative prior to the final decision on admission.

Work Experience:
Work experience is strongly preferred for admission to the University of Maine MBA program. Significant work experience with management responsibilities is especially important to demonstrate maturity and motivation by a student.

International Students: Applicants whose native language is not English must take the Test of English as a Foreign Language (TOEFL). The test must have been taken within the past five years; the minimum required score is 213 on the computer-based version or 550 on the paper-based test. Occasionally international students must submit their transcripts to a professional evaluation service (at the student’s expense) in order to demonstrate course equivalencies.

Apply Online!

Or, download the application forms below

All applications are in PDF format and require Adobe Acrobat Reader to view.

Arrangements for the Graduate Management Admission Test may be made by contacting:

Graduate Management Admissions Test (GMAT)

If you have any questions, please contact us at 207-581-1973 or via e-mail at

Graduate Faculty

Pankaj Agrrawal, Ph.D. (Alabama, 1996) Assistant Professor of Finance. Quantitative portfolio management, multi-constraint optimization, long-short market-neutral hedged portfolio construction, estimating optimal market betas, alpha modeling, corporate governance.

Scott Anchors, Ph.D. (Iowa State, 1987), Lecturer in Management.

David J. Barrett, CPA, M.S.A., A.B.D. (Indiana University), Lecturer in Accounting. Financial Accounting, Positive Accounting Theory

Richard H. Borgman, Ph.D. (Florida, 1994), Associate Professor of Finance. Financial institution management, securitization, portfolio risk management, asset pricing, international finance.

Anne Canabal, Ph.D. (University of Texas at El Paso, 2008).  Assistant Professor of Management.

Steven C. Colburn, Ph.D. (Georgia, 1989), Associate Professor of Accounting. Taxation of individuals, corporations, trusts and estates, with emphasis on tax planning.

Harold Z. Daniel, Ph.D. (Connecticut, 1997), Associate Professor of Marketing. Organizational buying behavior and strategic acquisition, collaborative research and development, strategic management of technology, diffusion of innovations, customer satisfaction, student retention in institutions of higher education.

Niclas Erhardt, Ph.D. (Rutgers University, 2008).  Assistant Professor of Human Resource Management.

C. Matt Graham, M.S.B.E. (Southern N.H. University, 2004), Lecturer of Management Information Systems.

Jason Harkins, Ph.D. (University of Oklahoma, 2008).  Assistant Professor of Management.

Nory B. Jones, Ph.D. (Missouri, 2001), Associate Professor of Management Information Systems. Knowledge management, collaborative technologies, and diffusion of technological innovations.

John F. Mahon, D.B.A. (Boston University, 1982), Interim dean of the College of Business, Public Policy and Health, and interim director of the Maine Business School. John M. Murphy Chair of International Business Policy and Strategy. Professor of Management. Management policy and strategy, global strategy.

Ivan M. Manev, Ph.D. (Boston College, 1997), Nicolas Salgo Professor of Business Administration and Associate Professor of Management. Management of the multinational corporation, formation of strategy and competitive advantage in social networks, management in post-communist transition societies.

Paul Meyer, Executive in Residence.

Patti Miles, Ph.D. (University of Texas at Arlington, 2008). Assistant Professor of Management.

Terry B. Porter, Ph.D. (Massachusetts - Amherst, 2006), Assistant Professor of Management. Business strategy and policy, top and middle management strategic roles, multinational and multicultural strategic management, ethics and social responsibility in business policy.

Robert A. Strong, Ph.D. (Pennsylvania State, 1983), University of Maine Foundation Professor of Investment Education and Professor of Finance. The dividend growth rate implied in common stock beta; asset allocation and purchasing power risk; bond portfolio duration.

Gloria Vollmers, Ph.D. (University of North Texas, 1993), Associate Professor of Accounting and Associate Dean. History of accounting, ethics in accounting and business, business history.

Stephanie A. Welcomer, Ph.D. (Pennsylvania State, 1997), Associate Professor of Management. Social and cognitive networks, stakeholder theory, organizations and the natural environment.

Additional information is available from:
Maine Business School Graduate Programs Office
5723 Donald P. Corbett Business Building, Room 209
The University of Maine
Orono, ME 04469-5723
Phone: (207) 581-1973

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