The MBA curriculum has three main components: core courses that build foundational business knowledge, electives that let you explore specific interests, and specializations that develop expertise in your chosen field. This structure balances essential skills with personalized learning to prepare you for your career goals.
What Does the Typical MBA Curriculum Look Like?
The structure of an MBA program depends on its format: full-time vs. part-time and two-year vs. one-year. The traditional two-year full-time format is split in four semesters (or terms) that require between 60 and 72 credit hours. However, the well-established one-year MBA is made up of only three terms that can feel more intensive. As for part-time and Executive MBA programs, their curricula are generally more flexible. They can take more than two years to complete as classes only take place in evenings or on weekends so that participants can keep their regular work during the week.
Regardless of format, the MBA curriculum is split into core courses, electives, and specializations. Most two-year programs dedicate the first year almost entirely to core courses and the second one – to personalized classes. With an accelerated, shorter program, it may be possible to mix and match courses throughout the year.
With most MBA programs nowadays, you can count on a balanced teaching approach where theory and practice are equally important. There will be a lot of theoretical knowledge instilled through core modules such as finance, but professors always incorporate experiential perspectives as well. Case studies, simulations, and consulting projects are part of the curriculum to help students take what they have learned and apply it in practice.
Core MBA Courses: The Foundation
Core subjects form the basis of your MBA studies. Specializations, networking, and internships are important, but they cannot build up on your knowledge and skills without completing the core courses.
Whether you’re doing a General Management MBA or a specialized one, expect foundational subjects such as accounting, finance, marketing, operations, and strategy. Finance and accounting courses cover areas like financial management and financial markets. In marketing, MBA participants learn about market analysis, consumer behavior, and marketing strategies. Studying operations management entails learning about the process of producing and distributing goods and services – think supply chain management. Business school courses in strategy dive into analyzing industries, competitors, and firms’ competitive advantage.
Of course, these examples are not exhaustive and there may be other core subjects included in your program – leadership, human resources, or ethics to name a few.
Core modules are called that for a reason – they are essential for teaching MBA students to think holistically about business challenges. A marketing problem often has financial implications. An operations decision affects strategy. By mastering fundamentals across different disciplines, you develop the cross-functional knowledge and skillset that employers seek. You learn to collaborate more effectively and make informed decisions in business and management.
Electives: Customizing Your Learning Path
Along with the core curriculum come those courses that make an MBA program truly yours – electives that you can pick and choose from. Some schools approach MBA electives with the mindset “the more, the better” – London Business School (LBS) (UK) has 100+ electives for MBA participants to choose from, while Hult International Business School has more than 150 on offer. At both universities, electives are split into categories per subject. Examples at LBS include Digital Investing, Generative Artificial Intelligence, and Diversity Science for Leaders. At Hult, you could choose from Luxury Marketing, Data Visualization, and Doing Business in Africa.
Other schools like Audencia Business School (France) have a more targeted approach where elective options are fewer, but may go more in-depth in the topic. At Audencia, students choose between Corporate Finance or Entrepreneurship & Transformation towards the middle of the program and then between Strategic CSR or Innovation & NPD towards the end.
In any case, the purpose of electives is to enable MBAs to gain specialized skills and knowledge and explore emerging trends.
MBA Specializations and Concentrations
While MBA electives allow you to customize your learning, specializations take personalization a step further. A specialization (also called a concentration) is a focused area of study within your MBA that develops expertise in a particular field. It may include dedicated courses or projects on that topic.
Choosing a specialization depends on your career goals and interests. Those who aim to switch industries can pick a field matching their new target role. Professionals who wish to advance in their current sector could instead pick a specialization that builds on their existing expertise. Some popular MBA concentrations include finance, consulting, technology management, healthcare management, and entrepreneurship. There are many programs nowadays that also offer specializations on emerging topics like sustainability or data analytics.
An interesting example comes from ESCP Business School, where specializations are tied to the different campus locations of the university. Students choose from four options: Consulting or Entrepreneurship in Madrid; or Luxury or FinTech & Innovation in Turin. This approach combines specialized learning with international experience.
Capstone Projects, Internships & Real-World Learning
The MBA curriculum features additional benefits and study experiences that immerse students in different situations and enrich their learning further. For example, MBA programs emphasize experiential learning through practical study formats. One of the terms you will most likely encounter when researching programs is “capstone project”. Capstone projects are a common culmination of MBA studies where students work in teams to solve real business challenges for actual companies.
Another key component is the summer internship, which typically comes after year one of two-year MBA programs. Internships are ideal not only for applying what you have learned in practice, but also for testing different career paths and even securing full-time offers after graduation.
Guest lectures, company visits, coding workshops or bootcamps, and innovation labs are other examples of hands-on learning that takes place in business school. These experiential opportunities are an invaluable way to network, build skills that are relevant to employers, and of course have fun.
How Curriculum Differs Across Schools
Having this background information about core MBA courses, electives, and specializations is useful, but bear in mind that curricula are different across schools and regions. Since full-time MBA programs in North America mostly have the traditional two-year format, this structure also determines the curriculum. The first year may be dedicated to core modules, while the second one – to electives. American business culture further impacts the focus of US programs and their focus often leans toward finance, consulting, and entrepreneurship.
In Europe, on the other hand, many full-time MBA programs are shorter and last about one year. They are often very internationally-focused – they may have mandatory international experiences or offer rotations across different campuses. Less traditional MBA subjects such as sustainability and corporate social responsibility are featured earlier in the curriculum compared to some American schools.
The MBA curriculum may also differ based on the program’s focus – some MBA programs are generalist (called General Management MBA), while others incorporate a specialization. For instance, you can easily find MBA programs in Healthcare, Data Analytics, and even Wine Management.
When selecting a program, consider the type of curriculum that fits you best. The structure of the courses you end up attending should be a good match for your learning style and career goals.
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