ACADEMIC MISSION AND PROGRAM

In an era marked with profound technological and institutional changes, communication revolution, globalization of the market place, and the transition to a free market economy, the ability to adapt to new conditions and realities is an essential requirement for effective and innovative management. The future leaders of both private and public sectors in the region must not only have the technical competence and knowledge to manage organizations and people, but also to act as agents of change for tomorrow's future.

The MBA program is designed to help future managers interact freely and effectively within the global competitive environment. The curriculum also takes into consideration the unique economic conditions, the social mores and the cultural needs of this region.

Rubina Ohanian

Rubina Ohanian, Ph.D., is the Dean of the School of Business and Management and the Director of the Center for Business Research and Development at AUA. Dr. Ohanian is an Associate Partner at Accenture, a leading international consulting firm. Prior to that, she was the Vice President of Market Intelligence at Mpower Communications. Dr. Ohanian has also served as Director of Market Intelligence at BellSouth Business Corporation. She was the recipient of the BellSouth 1999 Pinnacle Award. She has consulted for companies such as Coca-Cola, Kentucky Fried Chicken and MCI to name a few. Her educational achievements include a B.B.A. in Marketing with a minor in Petroleum Engineering, a M.B.A. in Finance and Statistics, and a Ph.D. in Advertising and Mass Communications from the University of Texas at Austin. She has authored and co-authored over thirty articles in marketing and advertising research and strategy.

MASTER OF BUSINESS ADMINISTRATION (MBA)

OVERVIEW OF THE MBA PROGRAM

The MBA program offers two concentrations/specializations: Accounting/Finance or Management/Marketing. To graduate with either of these two concentrations/specializations, a student must complete all required courses in the selected field with an average GPA of 3.0 or higher in those courses.

The first year of the program will have all required courses for the students-No Electives. Students will have the opportunity to experience all the functional areas of Business in order to make an educated and informed decision as to what area to choose as a concentration, and to provide a balanced knowledge of business. At the end of the first year (November 20th), students must declare a concentration/specialization--either Marketing/Management or Accounting/Finance. This declaration will be made to both the Associate Dean's and the Registrar's offices. Upon declaration of concentration, students will be assigned an advisor matched to their chosen field.

At the beginning of the second year of the MBA program, students will begin taking the required courses for their concentration/specialization. Students will also have the opportunity to take MBA electives during their second year. In other words, a student's course load would consist of three required concentration/specialization courses and one elective MBA course. Only one elective may be taken each quarter unless the student has been approved for an overload (twenty (20) credit hours). In this course overload scenario, a student could take three required courses and two elective MBA courses per quarter.

By choosing to enroll in these elective courses, a student is given the opportunity to declare a minor concentration/specialization. Three elective courses in the student's non-declared concentration/specialization area qualifies as a minor concentration in one of four areas-Accounting, Finance, Management, Management. These MBA electives may be chosen either from the student's area of concentration/specialization or may be chosen from the non-selected concentration/specialization area. Placement into an elective is based on meeting specified course pre-requisites, if any exists, as well as, determining space availability in the desired course since majors are give priority registration.

In summary, first year MBA students will take all required courses, while second year MBA students will have the flexibility to add elective courses to their required curriculum. This will provide the opportunity to further specialize either within their specialization area or choose another area for their minor specialization.

Graduation Requirements

To graduate with a MBA degree, students must successfully complete a total of twenty-five (25) courses, equivalent to ninety-four (94) credit hours. In order to qualify as a MBA candidate, students must earn a minimum of a 3.0 grade point average (GPA) both for the MBA program and their selected concentration/specialization field. A minimum of two (2) academic years of full-time residency (i.e., present and participating in all classes) is required of students enrolled in the Program. The MBA degree is awarded once a year during the Fall Quarter.

THE MBA CURRICULUM

The MBA courses are divided into twelve (12) core (required) courses during the first year and thirteen (13) courses during the second year, of which three (3) are electives and two are project courses. With the exception of the Environmental Management and Business Projects I & II courses (which are two (2) credit units), each course is equivalent to four (4) credit units. Graduate students must carry a full-time course load for each quarter during which they are enrolled in the School of Business and Management. A maximum course load of sixteen (16) credit units is permissible each quarter. A course load, not to exceed twenty (20) credit units, requires prior approval from the Dean or the Associate Dean before registration can take place.

REQUIRED FIRST YEAR COURSES

The required courses during the first year are designed to introduce the student to:
1. A set of Accounting & Finance and Marketing & Management analytic concepts, tools, and techniques drawn from economics, mathematics, quantitative and statistical analysis, and computer based information systems, which are essential for rational decision-making in a modern, complex economic environment.
2. A common body of knowledge about human factors, organizational structures and behaviors, and other economic, political and social forces that shape and constrain management decisions.

REQUIRED SECOND YEAR COURSES

The required courses during the second year are designed to develop concentrations/ specializations in the areas of Accounting & Finance or Marketing & Management. Students will have the opportunity to acquire a minor area in addition to their concentration. Students must have completed all First Year Required Courses prior to enrolling in Second Year Required Courses.

ELECTIVE COURSES

Students interested in taking classes to develop a minor in the non-selected major (concentration), will be allowed to enroll in a maximum of three (3) elective courses during the second year (one per quarter), assuming they meet the pre-requisites for the specified courses. Enrollment will be based on space availability with a priority given to students concentrating in the subject.

BUSINESS PROJECT

This required course in the second year is the experimental learning component of the MBA program where materials learned in the classroom are applied in a tangible situation. Students, working in teams, act as consultants to small/medium size businesses, manufacturing companies, governmental agencies or non-profit and/or service organizations in order to analyze and solve actual and current problems facing the organization. Due to the length of this course, the Project is divided into two (2) consecutive quarters, I and II. Students must register for the Project course during both the Summer (I) and Fall (II) quarters and receive a minimum grade of "C" in both courses in order to receive credit hours.

All courses and course schedules are subject to change. It is your responsibility to check with the Registrar's office and outside the Associate Dean's office for posted changes.

COURSE DESCRIPTIONS

BM423. Cost Accounting (4 credit units)
This course presents cost accounting in the context of a managerial tool for decision-making, planning, and control. Topics covered include different costs for different purposes (a study of the different concepts of cost), cost-volume-profit analysis including operational gearing, overhead cost absorption and activity based costing, relevant costs for short-term decision making, standard costing and variance analysis and budget preparation. It provides an excellent foundation for subsequent studies in managerial accounting, and the knowledge gained in some parts of the course is relevant to the auditing course. Pre-requisite: None

BM 520. Managerial Accounting (4 credit units)
This course is an introduction to the use of accounting in enterprises for managerial planning and control. The focus will be on understanding and interpreting cost data, control reports and performance evaluation methods, and the use of accounting information in decision-making. Case studies will be utilized. Specific topics to be covered include product costs, cost reports, relevant costs for short-term and long-term decisions, and accounting controls for production activities and for decentralized operations, including transfer pricing. Pre-requisite: Completion of first year

BM522. Armenian Tax Accounting (4 credit units)
This course focuses on all relevant Armenian Tax issues. Emphasis will be placed on taxes impacting business activities including: profits tax, income tax, VAT, excise tax, property tax, and tax administration. This course has a strong practical element in that students will be required to prepare various types of tax computations and offer advice on tax planning. Comparisons will also be made to tax regimes in developed market economies, such as the UK. Pre-requisite: Completion of first year

BM524. International Accounting (4 credit units)
The general aim of this course is to enhance the students' ability to recognize differences in accounting practices between countries. In so doing, students will extend their knowledge in accounting theory, concepts and practices, particularly in the area of consolidation for multinational enterprises.
Pre-requisite: Completion of first year

BM526. Auditing (4 credit units)
The objective of this course is to review the theory and practice underlying the auditor's examination and reporting on financial statements. Includes professional ethics, internal controls, and the selection and application of auditing procedures with an emphasis on International Standards of Auditing.
Pre-requisite: Completion of first year

ECONOMICS
BM461. Managerial Economics (4 credit units)
This course is an introduction to microeconomic analysis useful for business managers. Topics covered include estimation of demand and supply functions, production functions, constrained output maximization and cost minimization, price determination in competitive and imperfect markets, strategic behavior, taxation, and governmental regulation of business. Pre-requisite: None

BM463. Macroeconomics (4 credit units)
This course is an introduction to models of the aggregate economy that are used for business forecasting: multiplier models, interest rate models, and aggregate supply-demand models. Specific topics covered include national income accounts, economic growth, business cycles, monetary and fiscal policies, exchange rate determination, and the trade-off between inflation and unemployment.
Pre-requisite: None

BM562. Transitional Economies (4 credit units)
The purpose of this seminar course is to examine the current "transition economies issues". Topics include macroeconomic issues (such as stabilization, unemployment, growth, and inflation), microeconomic issues (such as analysis of market structure, privatization, and financial markets), and economic analysis of related institutional topics. Pre-requisite: Completion of first year

FINANCE
BM441. Financial Management (4 credit units)
The objective of this course is to analyze and manage the flow of funds through an enterprise, as well as, address the role of financial markets. Specific topics to be covered include financial statement analysis, the nature of risk, valuation of investments, optimum sources of financing, cash management, credit policy, cost of capital and capital budgeting. Pre-requisite: BM461& BM421

BM540. Corporate Finance I (4 credit units)
This course addresses financial decision-making in the modern corporation. These decisions include choosing between competing investment opportunities, valuation of assets and financial instruments, measuring and managing risk, financing of the firm's operations, dividend policy, and capital structure decisions, among others. Course concepts are integrated into the standard theories of risk and return, valuation of assets, the role of financial markets, and market structure. Pre-requisite: Completion of first year

BM542. Corporate Finance II (4 credit units)
This course is an extension of Corporate Finance I (BM540). It involves case analysis and the application of theoretical concepts we learn in the real world. This process involves ingenuity, practicality, and tolerance of ambiguity, group effort, and an ability to innovate and brainstorm.
Pre-requisite: BM540

BM544. Investment Analysis (4 credit units)
This course will address the behavior of investment markets and pricing of securities. Topics include: security analysis, management of fixed-income securities, portfolio management, and equity investment strategies. Material on the operation of securities markets and institutional details of trading is also included. Pre-requisite: Completion of first year

BM546. Management of Financial Institutions (4 credit units)
This course focuses on the study of financial policies and practices of commercial banks, savings and loan associations, pension funds, insurance companies, and other major financial institutions. It will review the current major problems facing senior managers in these financial institutions.
Pre-requisite: Completion of first year

BM548. International Finance Markets (4 credit units)
This course emphasizes the management of exchange rate risk through the use of internationally traded derivatives: futures contracts, options, and futures options. Also considered are forward markets and "swaps". Further, this course will examine financial practices and instruments - arbitrage, factoring, letters of credit, bankers' acceptances, and electronic transfers and financial markets and institutions, including trans-national banks (IMF, World Bank), venture capital markets, and tax havens. Pre-requisite: BM544 recommended

MANAGEMENT
BM411. Introduction to Organization and Management (4 credit units)
The purpose of this course is to understand interrelationships of structure, operations, and processes and how both individual and group behaviors influence operational, managerial, and strategic activities in the firm. Emphasis will be on acquiring knowledge and skills necessary for the effective practice of management. Pre-requisite: None

BM413. Environmental Management (2 credit units)
The health of Armenia's environment is critical to the sustainable development of the Republic. Environmental Management introduces the fundamental concepts of environmental science and conservation in an Armenian context. Topics covered include human population growth, ecosystem theory, water resources, water pollution, air pollution, ozone depletion, global warming and local climate change, soil degradation, energy resources, solid waste management, and bio-diversity. One field trip outside of class will be required. Pre-requisite: None

BM414. Organizational Behavior (4 credit units)
This course is concerned with the study of human behavior in organizations: how people influence organizational events and how events within the organization influence people's behavior. Organizational behavior is a field in which the principles of psychology are applied to both profit and non-profit business environments. Thus, it draws ideas from social psychology, learning theory, the psychology of perception, cognitive psychology, as well as, other areas of psychology. The field of organizational behavior covers a wide range of topics: organizational culture, motivation, decision-making, leadership, and communication. Pre-requisite: BM 411

BM502. Organization Analysis and Change (4 credit units)
This course provides approaches to analyzing organizational structure and decision-making processes, including the study of organizations as systems in a rapidly changing global environment. Topics include: applied behavioral analysis, group development, decision-making, inter-group dynamics, transformational leadership models, change-management processes and strategies, and the effect of change on individuals and the organizational goals and strategies. This course will rely heavily on case analysis. Pre-requisite: Completion of first year

BM504. Human Resource Management (4 credit units)
The objective of this course is to introduce the student to a general overview of personnel policies and practices in organizations. The course will focus on human resources from the perspective of the human resource professional. Specific topics to be covered include staffing, training and development, performance evaluation, compensation, employee discipline, work safety/health, and labor/management relations. Pre-requisite: Completion of first year

BM506. Production and Operations Management (4 credit units)
The focus of this course will be on the quantitative aspects of the elements, which contribute to the effective and efficient operations of an enterprise. Emphasis will be equally placed on the means for attaining organizational objectives for both service and manufacturing oriented entities. Topical areas will be the planning for and management of services and/or products, the design of processes, facility location and layout, forecasting, scheduling, and quality control. Pre-requisite: Completion of first year

BM508. Entrepreneurship (4 credit units)
This course addresses the needs of the would-be entrepreneur, as well as, the manager of creative and entrepreneurial activity within established organizations. This course also serves as a framework and catalyst to stimulate entrepreneurial motivation. Pre-requisite: Completion of first year

BM510. Organizational Leadership (4 credit units)
This course will focus on an overview of the fundamental concepts of leadership, as well as, introduction to tools for topics such as strategic thinking, leading change, critical thinking, leading teams and groups, influencing others and leading performance to name a few. The method of instruction for this course will combine didactic lectures, case analysis and group interactions.
Pre-requisite: Completion of first year

BM512. Negotiations (4 credit units)
This course will focus on developing negotiation skills and practices. The method of teaching will be classroom interaction involving lectures, role-playing and case analysis. Upon completion of this course, students will have a sound understanding of using negotiation and conflict resolution skills in a variety of settings. Pre-requisite: Completion of first year

BM514. Strategic Management (4 credit units)
An integrative course designed to provide an executive perspective of strategy. This course focuses on making and analyzing complex decisions to describe the firm's strategies for long-term survival and growth in competitive markets. Techniques for analysis of environmental conditions and trends, opportunities and threats, and resource strengths and limitations are examined. The primary method of instruction will be case analysis. Pre-requisite: BM502

MARKETING
BM481. Principles of Marketing (4 credit units)
This course is an introduction to the role of marketing within the business firm. Quantitative methods and behavioral theories are utilized. It provides the student an opportunity to apply analytical concepts and techniques developed in psychology, economic, quantitative analysis, accounting, and finance to marketing problems. The course will utilize case studies, and oral and written presentations. Specific topics to be covered include: customer analysis and buyer behavior, market segmentation, market research, distribution channels, product pricing and strategy, pricing, advertising, and sales force management Pre-requisite: BM461

BM582. Advertising (4 credit units)
This course is designed to give students the basic understanding of advertising principles and practices. Methods used and effectiveness of various types of advertising will be analyzed. Because our environment has grown increasingly complex and technology is rapidly changing, it is essential that students understand the role played by advertising in our society and the advertising consequences: every principle and practice that stimulates the purchase act.
Pre-requisite: Completion of first year

BM584. Applied Consumer Research (4 credit units)
This course will examine and evaluate marketing information sources and information gathering methods used to identify and define business problems: generate, refine and evaluate actions and monitor performance. Pre-requisite: Completion of first year

BM586. Strategic Marketing (4 credit units)
This case method course is designed to be a capstone experience for the Marketing & Management major. It seeks to integrate all the diverse areas of Marketing through the case analysis method of instruction. Student teams will conduct in-depth analysis of various cases during the quarter.
Pre-requisite: BM584

QUANTITATIVE METHODS
BM402. Business Statistics (4 credit units)
This course is an introduction to statistical methods and techniques as tools for management decision-making. Specific topics to be covered include: sampling and sampling distributions, parametric and non-parametric statistical inference methods, simple and multiple regression, and forecasting techniques as applied to business and management problems. Pre-requisite: None

BM405. Computer Applications in Business (4 credit units)
This course is designed to teach the use of relevant computer tools for business and management students including: spreadsheets, databases, presentations and project management, personal finances, statistical analysis, etc. Major topics to be covered include Excel for Business (business data manipulation: sort, filter, worksheets, functions); Personal Finance and Business and Management Problems with Excel; Statistics for Business with Excel; Statistical Analysis of Business Data with SPSS; Access for Business (tables, relationships, queries, forms, reports, import/export data); PowerPoint (create a slide show, run PowerPoint), import data from MS Access and MS Excel and present a business report. Pre-requisite: BM402

OTHER

BM400. Introduction to Business (4 credit units)
This course is a basic introductory course, the purpose of which is to expose students to all the functional areas of business (accounting, finance, management, marketing, and economics). The objectives of this course are to encourage students to think strategically, and develop effective presentations through teamwork and exercises. Pre-requisite: None

BM597 & BM599. Business Project (Total 4 credit units)
This required course in the second year is the experimental learning component of the MBA program where materials learned in the classroom are applied in a tangible situation. Students, working in teams, act as consultants to small/medium size businesses, manufacturing companies, governmental agencies or non-profit and/or service organizations in order to analyze and solve actual and current problems facing the organization. The Project enables students to address, define and analyze problems, evaluate on-site and recommend alternative solutions and plans for their actual implementation. While most of the course involves on-site fieldwork, the Project also includes classroom follow up focusing on project management and administration techniques, as well as written and verbal communications skills. Due to the length of this course, the Project is divided into two (2) consecutive quarters, I and II. Students must register for the Project course during the Summer (I) and Fall (II) quarters and receive a minimum grade of "C" in both courses. Students will be required to meet weekly with their Project advisor.
Pre-requisite: Completion of first year

BM600. Special Topics in Accounting & Finance (4 credit units)
This course is designed to introduce graduate students to some of the emerging global trends in marketing and advertising. The subjects of Armenian market trends are investigated, as well as, global technology and developments which then are applied to the country's transitional business techniques. Different topics are covered quarterly. Pre-requisite: Completion of first year

BM700. Special Topics in Marketing & Management (4 credit units)
This course is designed to introduce graduate students to some of the emerging global trends in marketing and advertising. The subjects of Armenian market trends are investigated, as well as, global technology and developments which then are applied to the country's transitional business techniques. Different topics are covered quarterly. Pre-requisite: Completion of first year.