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Graduating seniors who studied liberal arts at Northwestern University are now eligible to try business on for size—that is, if they don’t mind an extra year in school and a $45,000 tab for the privilege.
Students can apply to be among the first 30 Russell Fellows participating in a one-year master of science in management studies (MSMS) program at the Kellogg School of Management in the year following their graduation.
For the first three years, the MSMS—which will cost about what Northwestern charges for a year’s undergraduate tuition—will be exclusively for Northwestern students, so administrators and faculty can make it distinctive and work out any kinks. After that, the school plans to open the program to nonbusiness majors from other universities, says Betsy Ziegler, Kellogg’s associate dean of MBA programs.
“Kellogg is trying to meet the needs of the 21st century marketplace, which is something we already do at the MBA level,” she says. “But we have the opportunity to provide smart undergrads with what I call a ‘business wrapper.’ They have the potential to be bright leaders, but they don’t yet have the business acumen.”
Featuring core business courses such as financial accounting, statistics, and operations, the program will be taught entirely by Kellogg faculty, says Ziegler. Students can expect to work in teams and have an international experience. Applications for the first class are due at the end of February, and classes begin in July 2013. The program’s first graduation is expected in May 2014.