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New York University BulletinVOL. CI, No. 8 April 23, 2001

20012002

The Leonard N. Stern School of Business

Application Deadlines for Fall TermFull-time M.B.A. applicants seeking scholarship

consideration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . December 1Full-time M.B.A. applicants seeking to complete the

application and interview process in time to attendStern’s Pre-View Day in Early April . . . . . . . . . . . . . . . . . January 15

Full-time M.B.A. applicants final deadline . . . . . . . . . . . . . . . March 15Part-time M.B.A. applicants . . . . . . . . . . . . . . . . . . . . . . . . . . . . May 15

Application Deadlines for Spring Term(part-time study only)Part-time M.B.A. applicants . . . . . . . . . . . . . . . . . . . . . . . September 15Executive M.B.A. applicants . . . . See Executive Programs, pages 17-22Ph.D. applicants . . . . See Doctor of Philosophy Program, pages 30-32M.S. applicants . . . . See individual program descriptions, pages 23-29

Financial Aid DeadlinesApplication and admission deadline for fall entering

students . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . December 1FAFSA filing deadline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . January 15Financial aid offers made to new students . . . . . . . . . . . . . . . . . .April 1

Tentative Opening and Closing Dates of All TermsFall term . . . . . . . . . . . . . . . . . . . . . . . . . . . .September 5-December 21Spring term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .January 22-May 14Summer term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .May 20-August 9

Last Day to Withdraw from Class1

Fall term2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .November 6Spring term2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .April 1Summer term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .June 28

Final Examinations Fall term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .December 15-21Spring term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .May 7-14Summer term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .July 29-August 6

Application Filing Deadlinesfor Degree CandidacyFor September 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .June 1, 2001For January 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .October 1, 2001For May 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .February 1, 2002

Deadlines for Filing Ph.D.DissertationsFor September 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . .August 24, 2001For January 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . .December 14, 2001For May 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .March 15, 2002

CommencementStern Pre-Commencement . . . . . . . . . . . . . . . . . . .(tentative) May 15Conferring of degrees (NYU Commencement) . . . . . . . . . . . . . .May 16

Tentative Recess PeriodsWinter . . . . . . . . . . . . . . . . . . . . .December 22, 2001-January 19, 2002Spring . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .March 11-16

School Holidays and Closings3

Labor Day (2001) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .September 3Thanksgiving Recess . . . . . . . . . . . . . . . . . . . . . . . . . .November 22-24Dr. Martin Luther King, Jr. Day . . . . . . . . . . . . . . . . . . . . . . .January 21Presidents’ Day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .February 18Memorial Day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .May 27Independence Day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .July 4

Calendar for the Academic Year 2001-2002

1 See Tuition and Fees section for refund schedule.2 For half-term classes, the last day to withdraw is the last day of the sixth week of class.3 NYU Bobst Library closed.

Produced by Advertising and Publications, New York University.New York University is an affirmative action/equal opportunity institution.

N E W Y O R K U N I V E R S I T Y B U L L E T I N2 0 0 1 - 2 0 0 2

Announcement for the 86th Session 44 West Fourth Street

New York, NY 10012-1126 Telephone: (212) 998-0100

Notice. The policies, requirements, course offerings, schedules, activities, tuition, fees, and calendarof the school and its departments and programs set forth in this bulletin are subject to change with-out notice at any time at the sole discretion of the administration. Such changes may be of anynature, including, but not limited to, the elimination of the school, programs, classes, or activities;the relocation of or modification of the content of any of the foregoing; and the cancellation ofscheduled classes or other academic activities. Payment of tuition or attendance at any classes shallconstitute a student’s acceptance of the administration’s rights set forth in the above paragraph.

New York University Bulletin (USPS-383620)Vol. CI, No. 8, April 23, 2001

Published weekly from the first Monday in March for 12 consecutive issues by New York University, 100 Washington Square East, New York, NY 10003-6688.

Periodicals postage paid at New York, NY, and at additional entry offices.

Postmaster: Send address changes to New York University Bulletin, 547 La Guardia Place, New York, NY 10012-1464.

THE LEONARD N. STERN SCHOOL OF BUSINESS

2

Calendar for the Academic Year 2001-2002.............................................inside front cover

The Leonard N. Stern School of Business ........3

The Board of Overseers.............................................4

An Introduction to New York University..........5

Overview of Programs ...............................................9

Master of Business Administration Program....................10

Executive Programs...........................................................17

Master of Science (in Information Systems)....................23

Master of Science (in Mathematics/Statistics andOperations Research) Program ........................................25

Master of Science (in Statistics and Operations Research) Program ........................................28

Doctor of Philosophy Program .........................................30

Courses, Areas, and Academic DepartmentsAccounting, Taxation, and Business Law .........................33

Economics .........................................................................37

Entrepreneurship and Innovation ....................................42

Finance ..............................................................................47

Information Systems .........................................................55

International Business ......................................................60

Management and Organizational Behavior/Management Communication .........................................63

Marketing...........................................................................69

Operations Management...................................................74

Statistics and Operations Research ...................................78

M.B.A. Program Initiatives ................................................84

Research Centers and Institutes ........................88

Procedures for Admission, Financial Aid,Registration, Tuition and Fees, Graduation

Admission...........................................................................94

Financial Aid......................................................................97

Registration and Matriculation ......................................102

Tuition and Fees ..............................................................109

Examinations and Grades...............................................113

Graduation Requirements ..................................117

Career Development and Placement..............120

School and University Facilities and Services

Elmer Holmes Bobst Library and Study Center ..............122

Computing at Stern .........................................................123

Residence Accommodations............................................124

Campus Safety .................................................................124

NYU Guest Accommodations...........................................124

Campus Dining Services..................................................124

University Health Center..................................................125

Office for African American, Latino, and Asian American Student Services ....................................126

Campus Store/The NYU Book Centers ............................126

Jerome S. Coles Sports and Recreation Center ...............126

Chelsea Piers....................................................................127

Students with Disabilities ................................................127

Office for International Students and Scholars..............127

The M.B.A. Student Activities Office ................................127

M.B.A. Student Groups.....................................................127

Community Service ...............................................129

Development and Alumni Outreach...............130

Administration and Faculty...............................132

Degree, Certificate, and Joint DegreePrograms Registered by the New York State Education Department .............................142

Travel Directions to the Stern School of Business ..................................................143

Washington Square Campus Map.....................144

Index .............................................................................146

Directory of Principal School Offices and Services .........................inside back cover

Contents

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The Leonard N. Stern School of Business

he Stern School is located not in an academicenclave, but in the heart of New York City. Thiscapital of the business world is both our ex-

tended campus and a fundamental element of the learn-ing experience that we create. Our vibrant New York Citylocation, along with our broad portfolio of academicprograms, our talented student body, and our dedicatedfaculty, work together to create an educational experiencethat is relevant, enriching, and uniquely Stern.

We offer a complete business education portfolio,including undergraduate programs, full-time M.B.A. pro-grams, a part-time M.B.A. program, and a wide range ofexecutive programs. Stern’s Executive Programs officeoffers degree programs such as the Executive M.B.A. withconcentrations in general management and finance, andnondegree programs, including custom as well as open-enrollment programs. Stern has introduced the new TRIUM Executive M.B.A., which is the first to blend the comple-mentary strengths of three renowned universities—New York University Stern School of Business, the London Schoolof Economics and Political Science, and HEC Paris, Graduate Business School—with five international learninglocations, to provide an authentically global curriculum.

We have put in place the building blocks of an intellectual architecture that, while assuring a solid foundationin business discipline and practice, responds to the evolving business environment. Dynamic program initiatives inthe digital economy; media, entertainment, and technology; quantitative finance; and law and business, as well asa new comajor in entrepreneurship and innovation, complement the traditional M.B.A. curriculum. Stern’s centersand institutes, which undertake significant academic research, further enhance the student’s opportunity to keep pacewith a rapidly changing business world.

Our student body comprises men and women from diverse backgrounds, who share high aspirations and the abil-ity to succeed. We are dedicated to producing graduates equipped not only with the most up-to-date tools and skills,but also with poise and perspective. To do so, we offer a broad selection of student organizations that foster manyopportunities for our students to learn from each other. An active calendar of activities brings the world of businessto the campus. Moreover, with one of the largest enrollments of international students, representing more than 50countries, and an international student exchange program that is the most extensive offered by any U.S. businessschool, Stern offers students the chance to gain a deep understanding of global business.

The more than 200 teachers/scholars who comprise Stern’s full-time faculty combine superb academic credentialswith real-world experiences and knowledge, taking pride in their efforts both in the classroom and in research. Over halfof our faculty lives in Greenwich Village, within blocks of the School, allowing an unusual degree of access and colle-giality. Both our students and our faculty benefit from Stern’s location in New York City, home to Fortune 500 compa-nies as well as new start-up ventures. At Stern, the intellectual landscape encompasses both Wall Street and Silicon Alley.

If you are considering furthering your business education, we invite you to explore the Stern School of Business.The world of business is a meritocracy—it is based on knowledge, skill, and involvement. The Stern School is forpeople who appreciate this fundamental truth, embrace the challenge of excellence, and value personal achievement.

George DalyDean

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he business leaders whomake up Stern’s Boardof Overseers play a criti-

cal role in shaping the School’sprograms, policies, and proceduresand in directing its future course.Collectively, the Board ensures thatStern’s academic programs contin-ue to meet—and anticipate—theneeds of today’s business market-place. Individually, its membershelp to forge and enhance relation-ships between Stern and the busi-ness community.

Michael R. ArmellinoLimited Partner, Goldman, Sachs & Co.

Edward E. BarrChairman, Sun Chemical Corporation

William R. Berkley, Chairman ofthe Board of OverseersChairman and Chief Executive Officer,W. R. Berkley Corp.

Richard A. BernsteinPrivate Investor

Russ M. BerrieChairman and Chief Executive Officer,Russ Berrie & Company, Inc.

Ronald E. BlaylockChairman and Chief Executive Officer,Blaylock & Partners, L.P.

Irene C. ChuExecutive Vice President, Eastbank

Jerry L. CohenTishman Speyer Properties

Deborah L. DuncanManaging Director and ChiefFinancial Officer, Fremont Group

Charles D. EllisManaging Director, Greenwich Associates

Mary C. FarrellManaging Director, Senior InvestmentStrategist, PaineWebber Inc.

Barry FingerhutPresident, Geo Capital, LLC

Norman Freedman

Dale F. Frey

Richard A. GrassoChairman and Chief Executive Officer,New York Stock Exchange

John A. Hupalo, ex officio (as president of the Alumni Board)Managing Director, Paine Webber

Henry Kaufman, ChairmanEmeritus of the Board of OverseersPresident, Henry Kaufman &Company, Inc.

George A. KellnerChief Executive Officer, Kellner, DiLeo & Co.

Richard J. KoganChairman and Chief Executive Officer,Schering-Plough Corporation

Abby F. KohnstammSenior Vice President, Marketing, IBM Corporation

Kenneth G. Langone, ViceChairman of the Board of OverseersPresident and Chief Executive Officer,Invemed Associates, Inc.

Martin L. LeibowitzVice Chairman and Chief InvestmentOfficer, TIAA-CREF

Marshall LoebCBS MarketWatch.com

David I. Margolis

Howard M. MeyersPresident and Chief Executive Officer, Bayou Steel Corporation, Quexco Incorporated

Philip L. MilsteinPresident and Chief Executive Officer, Emigrant Savings Bank

Y. O. ParkChairman and Chief Executive Officer,The Doosan Group

William PescePresident and Chief Executive Officer,John Wiley & Sons Incorporated

Ira Leon RennertChairman and Chief Executive Officer,The Renco Group, Inc.

Gerald RosenfeldChief Executive Officer, Rothschild NorthAmerica Inc.

Peter G. SachsLimited Partner, Goldman, Sachs & Co.

Jane Dresner SadakaPrivate Investor

Peter M. SchoenfeldChairman and Chief Executive Officer,P. Schoenfeld Asset Management, LLC

David L. ShedlarzExecutive Vice President and ChiefFinancial Officer, Pfizer, Inc.

Thomas W. SidlikExecutive Vice President,DaimlerChrysler Corporation

Michael J. SolomonChairman and Chief Executive Officer,Solomon Broadcasting International

Martin T. SosnoffChairman, Atalanta/Sosnoff Capital Corp.

Robert E. StanskyVice President, Fidelity Investments

Leonard N. Stern, ex officioChairman and Chief Executive Officer,The Hartz Group, Inc.

Jean-Paul VallèsChairman of the Board, MineralsTechnologies Inc.

John L. Vogelstein, Vice Chairmanof the Board of OverseersVice Chairman and President, E. M. Warburg, Pincus and Co., LLC

The Board of Overseers

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An Introduction to New York University

he founding of New York University (NYU)in 1831 by a group of eminent privatecitizens was a historic event in American

education. In the early 19th century, a major empha-sis in higher education was on the mastery of Greek andLatin, with little attention to modern or contemporarysubjects. The founders of NYU intended to enlarge thescope of higher education to meet the needs of personsaspiring to careers in business, industry, science, andthe arts, as well as in law, medicine, and the ministry.The opening of the University of London in 1828convinced New Yorkers that New York, too, should havea university.

The first president of NYU’s governing council wasAlbert Gallatin, former adviser to Thomas Jefferson and secretary of the treasury in Jefferson’s cabinet. Gallatinand his cofounders said that the new university was to be a “national university” that would provide a “rationaland practical education for all.”

The result of the founders’ foresight is today a university that is recognized both nationally and inter-nationally as a leader in scholarship. Of the more than 3,000 colleges and universities in America, only 61private institutions are members of the distinguished Association of American Universities. New York Universityis one of the 61. Students come to the University from all 50 states and from 125 foreign countries.

The University includes 14 schools and colleges at six major centers in Manhattan. In addition, the Universityoperates branch campus programs in Westchester County at Manhattanville College and in Rockland Countyat St. Thomas Aquinas College. Certain of the University’s research facilities, notably the Nelson Institute ofEnvironmental Medicine, are located in Sterling Forest, near Tuxedo, New York. Although overall the Universityis large, the divisions are small- to moderate-sized units—each with its own traditions, programs, and faculty.

Enrollment in the undergraduate divisions ranges between 100 and 6,000. While some introductory classesin some programs have large numbers of students, many classes are small. More than 2,500 courses are offered,leading to more than 25 different degrees.

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The College of Arts and Science offersthe Bachelor of Arts degree in a wide range ofprograms in the humanities, sciences, socialsciences, and foreign languages and litera-tures, and, in some departments, theBachelor of Science degree.

Joint programs of study currently involveNYU’s Robert F. Wagner Graduate School ofPublic Service, Graduate School of Arts andScience, the Steinhardt School of Education,Shirley M. Ehrenkranz School of SocialWork, School of Medicine, and College

of Dentistry, as well as Stevens Institute of Technology.The School of Law is one of the oldestlaw schools in the United States. It offers acomprehensive first professional programleading to the degree of Juris Doctor and agraduate curriculum leading to the degreesof Master of Laws, Master of ComparativeJurisprudence, and Doctor of JuridicalScience.The School of Medicine and Post-Graduate Medical School offer the Doc-

tor of Medicine and Doctor of Philosophydegrees and courses for accreditation de-signed to meet the needs of physicians inpractice. Medical students and residents gainclinical experience through the NYU Hospi-tals Center, which includes the 726-bed TischHospital and the 174-bed Rusk Institute ofRehabilitation Medicine, both of which arepart of the Mount Sinai-NYU Medical Centerand Health System. The school also main-tains affiliations with select institutions for avariety of joint academic and clinical pro-

The Schools and Colleges of the University

grams. Most clinical teaching takes place atthe 1,232-bed Bellevue Hospital, where theSchool of Medicine supervises care. Otheraffiliated hospitals include the Hospital forJoint Diseases, NYU Downtown Hospital, andthe New York Department of Veterans AffairsMedical Center.

The Cooperative Care unit, housed in theArnold and Marie Schwartz Health CareCenter, offers an innovative health care pro-gram in which patients receive health careand educational services in a centralizedarea with the assistance of a live-in relativeor friend.

The school’s Skirball Institute of Biomo-lecular Medicine is one of the world’s leadingmedical research centers, with researchemphasizing the biomolecular roots of dis-ease. Specific areas of focus include develop-mental genetics, molecular pathogenesis,neurobiology, and structural biology.

The College of Dentistry is the thirdoldest and the largest private dental school inthe United States. It offers a predoctoral pro-gram leading to the Doctor of Dental Surgerydegree, as well as advanced education pro-grams in the dental specialties and alliedhealth programs in dental hygiene and den-tal assisting. The patient care clinics, labora-tories, and other teaching facilities that com-prise the College of Dentistry are housedwithin several buildings, including theArnold and Marie Schwartz Hall of DentalSciences and the K. B. Weissman ClinicalScience Building. The center is located onFirst Avenue, from East 24th Street to East25th Street, in the midst of one of thenation’s most renowned health sciencescomplexes, which extends from East 14thStreet to East 34th Street.

The Graduate School of Arts andScience offers the degrees of Master of Arts,Master of Science, and Doctor of Philosophyin most areas of the humanities, social sci-ences, and natural sciences. Several certifi-cate programs are also offered. The NYU inParis and NYU in Madrid M.A. programs arebased in centers in Paris and Madrid. Jointprograms of study currently involve theSchool of Law, School of Medicine, LeonardN. Stern School of Business, and the Steinhardt School of Education. Courses areoffered in the late afternoon and evening aswell as during the day.

The Steinhardt School of Educationoffers a broad range of undergraduate pre-professional and professional programs inthe human service fields. In addition to the

traditional education-related curricula inteaching and learning, administration, andapplied psychology, the school offers work inhealth, physical therapy, and other health-related disciplines; a program in nutritionand food studies; foundational and researchcourses in the history of education, researchmethodologies, and humanities; undergrad-uate and graduate courses in nursing; and afull range of courses in music, art, anddance. Graduate students may enroll inmaster’s, sixth-year certificate, and doctoralprograms, and undergraduate work leads tothe Bachelor of Science or Bachelor of Musicdegree. Courses are given weekdays andevenings to full-time, part-time, and specialstudents. There are a large number of sum-mer study-abroad and intensive weekendstudy programs.

The Leonard N. Stern School of Busi-ness Undergraduate College adminis-ters the undergraduate business program.This program offers a new, innovative cur-riculum that integrates liberal arts studieswith business studies. Through this course ofstudy, students are exposed in a distinctivemanner to the international dimensions ofbusiness; develop strong interpersonal andteam-building skills; gain a sense of profes-sional responsibility; and undertake cross-disciplinary course work while retaining astrong individualized component throughelective course work. The undergraduatecurriculum is a full-time course of study.

The School of Continuing andProfessional Studies for more than 60years has provided courses and credentialsdesigned to meet the cultural and careerneeds of today’s adult population. The schoolboasts a wide range of noncredit classes ininformation technologies and digital media;e-business; real estate and construction;publishing; marketing and management;film and video; creative writing; interna-tional affairs; foreign languages; hospitality;finance and law; and more. The VirtualCollege™, SCPS’s distance learning compo-nent, hosts a growing number of on-linecourses across a variety of disciplines. SCPSalso offers workshops for adults consideringa career change or returning to college, aswell as opportunities to study for an associ-ate’s, bachelor’s, or a master’s degree.

The Robert F. Wagner GraduateSchool of Public Service offers curric-ula in public administration, including non-profit management, financial management,public policy analysis, comparative and

development administration, and interna-tional administration; urban public policystudies; urban planning; and health policyand management. Master’s and doctoraldegree programs are offered. The AdvancedProfessional Certificate Programs and theMaster of Science in Management Programoffer career development opportunities forexperienced professionals, including theAdvanced Management Program for Clini-cians (AMPC). Joint degree programs areavailable with the College of Arts and Science,the School of Law, the Steinhardt School ofEducation, the School of Medicine, and theShirley M. Ehrenkranz School of SocialWork. Courses for full-time and part-timestudents are offered in the late afternoon andevening. Special Saturday programs areavailable in public and nonprofit manage-ment and in health services management.

The Shirley M. Ehrenkranz Schoolof Social Work offers Bachelor of Science,Master of Social Work, and Doctor ofPhilosophy degrees. The bachelor’s programprepares students for beginning social workpractice immediately on graduation and foradmission to graduate programs withadvanced standing. The master’s programprepares students for the core mission ofsocial work and provides an advancedconcentration in clinical social work. Thedoctoral program offers a concentration inclinical social work. It prepares graduates toassume leadership positions as researchers,advanced practitioners, and educators. Theschool also offers an Advanced Certificate inClinical Social Work and a Post-Master’sCertificate Program in the Treatment ofAlcohol- and Drug-Abusing Clients.

The Tisch School of the Arts providesundergraduate and graduate training inaspects of the performing and visual arts.Departments and programs offering profes-sional training are acting, dance, design,drama, performance studies, film and televi-sion, cinema studies, photography, dramaticwriting, musical theatre, and interactivetelecommunications. Degrees conferred arethe B.F.A., M.F.A., M.P.S., and, through theGraduate School of Arts and Science, theM.A. and Ph.D.

The Gallatin School of IndividualizedStudy, organized to promote innovativedegree programs, combines flexible curricu-la and rigorous standards. It offers an under-graduate program, leading to the Bachelorof Arts degree, and the Master of Arts degreeprogram.

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The Mount Sinai School of Medicineoffers the M.D. and Ph.D. degrees in additionto a combined M.D./Ph.D. program in a rig-orous intellectual environment focused on

collaboration between faculty and students.The school is committed to training studentsto be not only outstanding clinicians andscientists but compassionate individuals who

also serve science and society. The school,founded in 1963, became affiliated with NewYork University on July 1, 1999.

Since its founding, New York University hasbeen a private university. It operates under aboard of trustees and derives its income fromtuition, endowment, grants from privatefoundations and government, and gifts fromfriends, alumni, corporations, and other pri-vate philanthropic sources.

The University is committed to a policy ofequal treatment and opportunity in everyaspect of its relations with its faculty, stu-dents, and staff members, without regard toage, citizenship status, color, disability, mar-ital or parental status, national origin, race,

religion, sex, or sexual orientation.Inquiries about the application of the fed-

eral laws and regulations on affirmativeaction and antidiscrimination policies andprocedures at New York University may bereferred to Sharon Weinberg, Vice Provost forFaculty Affairs, New York University, ElmerHolmes Bobst Library, 70 Washington SquareSouth, Room 1202, New York, NY 10012-1091; telephone (212) 998-2370. Inquiriesmay also be referred to the direc-tor of the Office of Federal ContractCompliance, U.S. Department of Labor.

New York University is a member of theAssociation of American Universities and isaccredited by the Middle States Association ofColleges and Schools [Commission onHigher Education of the Middle StatesAssociation of Colleges and Schools, 3624Market Street, Philadelphia, PA 19104; (215)662-5606]. Individual undergraduate, grad-uate, and professional programs and schoolsare accredited by the appropriate specializedaccrediting agencies.

A Private University

L. Jay OlivaB.A., M.A., Ph.D.; hon.: D.H.L., Litt.D., LL.D., Ph.D., President

John E. SextonB.A., M.A., Ph.D., J.D., President-Elect; Dean, School of Law

Harvey J. StedmanB.A., M.A., Ph.D., Provost

Naomi B. LevineB.A., LL.B., J.S.D., Senior Vice President forExternal Affairs

S. Andrew SchafferB.A., LL.B., Senior Vice President, GeneralCounsel, and Secretary of the University

Robert BerneB.S., M.B.A., Ph.D., Vice President forAcademic and Health Affairs

Richard N. BingB.A., M.A., Ph.D., Vice President for Budgetand Resource Planning

Lynne P. BrownB.A., M.A., Ph.D., Vice President forUniversity Relations; Senior Assistant to the President

Robert GoldfeldB.A., LL.B., Vice President for Administration

David C. KoehlerB.S., Vice President for External Affairs

Anthony R. MarchionniB.S., C.P.A., Treasurer

Margo Post MarshakB.A., M.A., J.D., Vice President for Student Affairs

Harold T. ReadB.S., M.B.A., Vice President for Finance

DEANS

Michael C. AlfanoD.M.D., Ph.D., Dean, College of Dentistry

Jo Ivey BouffordB.A., M.D., Dean, Robert F. WagnerGraduate School of Public Service

Mary Schmidt CampbellB.A., M.A., Ph.D.; hon.: D.F.A., Ph.D., Dean,Tisch School of the Arts

Mary J. CarruthersB.A., Ph.D., Dean for Humanities, Faculty of Arts and Science

Frederick D. S. ChoiB.B.A., M.B.A., Ph.D., Dean, UndergraduateCollege; Vice Dean, Leonard N. Stern Schoolof Business

George DalyB.A., M.A., Ph.D., Dean, Leonard N. SternSchool of Business

George W. DownsB.A., Ph.D., Dean for Social Sciences,Faculty of Arts and Science

David F. FinneyB.A., M.A., Ed.D., Dean, School ofContinuing and Professional Studies;Special Assistant to the President

Richard FoleyB.A., M.A., Ph.D., Dean, Faculty of Arts and Science

Robert M. GlickmanB.A., M.D., Saul J. Farber Dean, New YorkUniversity School of Medicine andPost-Graduate Medical School

Peter LennieB.Sc. [Hull], Ph.D. [Cantab.], Dean forScience, Faculty of Arts and Science

Carol A. MandelB.A., M.A., M.S.L.S., Dean of Libraries

Ann MarcusB.A.; M.Sc. [London], Ed.D., Dean, The Steinhardt School of Education

Thomas M. MeenaghanB.S., M.S.W., Ph.D., Dean, Shirley M.Ehrenkranz School of Social Work

Arthur H. RubensteinM.B.,Ch.B. [Witwatersrand], Dean, MountSinai School of Medicine (affiliated)

Matthew S. SantiroccoB.A.; M.A. [Cantab.], M.Phil., Ph.D., Dean,College of Arts and Science

John E. SextonB.A., M.A., Ph.D., J.D., President-Elect; Dean, School of Law

Catharine R. StimpsonB.A.; B.A., M.A. [Cantab.], Ph.D.; hon.:D.H.L., Hum.D., Litt.D., LL.D., Dean,Graduate School of Arts and Science

E. Frances WhiteB.A., M.A., Ph.D., Dean, Gallatin School ofIndividualized Study

New York University Administration

Martin LiptonB.S. in Econ., LL.B., Chair

Diane Belfer

William R. BerkleyB.S., M.B.A.

Richard A. BernsteinB.A.

Mrs. Elmer H. BobstB.A., M.A., M.P.H.; hon.: L.H.D.

Leonard BoxerB.S., LL.B.

John Brademas(President Emeritus), B.A.; D.Phil. [Oxon.]; hon.: L.H.D., Litt.D., LL.D.

Kevin R. BrineB.A., M.B.A.

Arthur L. CarterB.A., M.B.A.

Barry Diller

Betty Weinberg EllerinB.A., J.D.

Mary C. FarrellB.A., M.B.A.

Laurence D. FinkB.A., M.B.A.

Paul J. FribourgB.A.

Jay M. FurmanB.S., J.D.

Eric J. GleacherB.A., M.B.A.

Lewis L. GlucksmanB.A., M.B.A.

Norman GoodmanB.A., J.D.

Alan C. GreenbergB.A.

H. Dale HemmerdingerB.A.

Richard D. KatcherB.A., LL.B.

Henry KaufmanB.A., M.S., Ph.D.; hon.: L.H.D., LL.D.

Patricia Kluge

Richard Jay KoganB.A., M.B.A.

Jeffrey L. S. KooB.A., M.B.A.

Kenneth G. LangoneB.A., M.B.A.

Thomas S. MurphyB.S.M.E., M.B.A.

Brooke Garber NeidichB.A.

L. Jay OlivaB.A., M.A., Ph.D.; hon.: D.H.L., Litt.D., LL.D., Ph.D.

Herbert M. PaulB.B.A., M.B.A., J.D., LL.M.

Lester PollackB.S., LL.B.

Michael J. RosenbergB.A., M.B.A.

E. John Rosenwald, Jr.B.A., M.B.A.

Baron Edouard de RothschildM.B.A.

Lewis RudinB.S.

John E. Sexton(ex officio), B.A., M.A., Ph.D., J.D.

Henry R. SilvermanB.A., J.D.

Larry A. SilversteinB.A., LL.B.

Sheldon H. Solow

Joseph S. SteinbergB.A., M.B.A.

Michael H. SteinhardtB.S.

Frank J. TascoB.A.

Henry TaubB.S.

Laurence A. TischB.S., M.B.A.

Preston Robert TischB.A.

Lillian Vernon

John L. Vogelstein

Robert F. WrightB.A., M.B.A.

Martin J. WygodB.S.

William D. ZabelB.A., LL.B.

Baroness Mariuccia Zerilli-Marimò

Mortimer B. ZuckermanB.A., M.B.A., LL.B., LL.M.

LIFE TRUSTEES

Mrs. W. Vincent Astorhon.: LL.D.

Morris H. BergreenLL.B.

Geraldine H. Coles

John J. CreedonB.S., LL.B., LL.M.

Maurice R. GreenbergLL.B.; hon.: J.D., LL.D.

George H. Heyman, Jr.B.B.A., M.B.A.

Helen L. KimmelB.A.

George A. MurphyB.A., M.B.A., LL.B.

William R. Salomon

Marie Schwartz

Julius SilverB.A., J.D.; hon.: L.H.D., Sc.D.

Herbert R. SilvermanB.S., J.D.

Phyllis Cerf Wagner

TRUSTEE ASSOCIATES

Bruce BergerB.S.

Jane Eisner BramB.A., M.S.W., Ph.D.

Boris KostelanetzB.C.S., B.S., J.D.

Marvin LefflerB.S., M.B.A.

Stanley C. LesserB.A., J.D.

8

Board of Trustees

9

Overview of Programs

ll of the Stern School’s academic programsdemand that students make a significantcommitment to scholarship and enterprise.

Its 16 distinct programs and some 180 courses providethe most comprehensive opportunity to study manage-ment in the United States.

Whether pursuing a career in finance, internationalbusiness, accounting, information systems, statistics,marketing, management, operations management,entrepreneurship, or economics, students will find that the programs listed below provide a rigorous and intense education.

A

• Master of Business Administration

Full-Time Block Program

Langone Program: A Part-Time M.B.A. for Working Professionals

Joint-Degree Programs:

Master of Business Administration-Juris Doctor

Master of Business Administration-Master of Arts (French studies)

Master of Business Administration-Master of Arts (Politics)

Master of Business Administration-Master of Science (Statistics andOperations Research)

Master of Business Administration-Master of Public Administration

Master of Business Administration-Master of Science (Biology)

• Executive M.B.A.

• Executive M.B.A. in Finance

• Doctor of Philosophy

• Master of Science (in Mathematics/Statistics and Operations Research)

• Master of Science (in Statistics and Operations Research)

• Master of Science (in Information Systems)

• Joint Bachelor’s-Master’s Programs:

B.S.-M.S. (in Statistics and Operations Research) with the Undergraduate College of the Stern School

B.A.-M.S. (in Statistics And Operations Research) with the College of Arts and Science

Degrees and Programs

All programs follow the same basic applica-tion procedures:

• Applicants must submit separate applica-tions to the Stern School and the other par-ticipating school. They will compete withregular applicants at each school and mustbe admitted to both schools. Applicants

should write the name of the joint programacross the top of each school’s application.

• Full-time students seeking financial aidmust submit the financial aid applicationto the school they will be attending for mostof that academic year.

• Detailed information on programscheduling and structure is available inM.B.A. Academic Advising.

Web site: www.stern.nyu.edu/mba/advising

Joint DegreeApplication Procedures

10

Master of Business Administration Program

he M.B.A. Program at New York University’sStern School of Business is a vigorous exam-ple of the best in graduate business edu-

cation, where the pursuit of success for our students—educational, professional, and personal—is the drivingforce behind everything we do. Stern students developthe skills they need to succeed in any business environ-ment, anywhere in the world.

Balancing theory and conceptual frameworks withpractical applications, the M.B.A. curriculum first devel-ops a solid base of management skills through requiredcore courses, and then builds on that knowledgethrough advanced elective courses in a variety of func-tional areas. Within this structure, students choose from a wide range of courses and plan their programsaccording to their own needs and interests.

The core curriculum introduces students to the functional activities of organizations and the analytical and conceptual frameworks for managerial decision making. Collectively, the core courses providefundamental knowledge that a manager must have to be effective and the foundation for advanced spe-cialization in different functional areas.

Stern’s M.B.A. Program provides depth as well as breadth. After completing the core curriculum, a stu-dent obtains in-depth knowledge in areas of specialization by completing a minimum of 12 credits of coursework in the major. Students choose from a wide array of elective courses offered at Stern and from approvedcourses offered by other NYU graduate programs. A list of Stern elective courses can be found in the coursedescriptions for each academic department. (Consult the index for page numbers.) Beyond the courses requiredto complete their majors, students may take up to 6 additional credits in the major area or use all remainingelective credits to gain expertise in other areas. Students have a variety of options when they design this com-ponent of the curriculum to meet their specific needs. They may double major, comajor in InternationalBusiness or Entrepreneurship and Innovation, concentrate their electives in one of Stern’s Program Initiatives,or design their own assortment of courses.

T

11

Two years of living, studying, and playing atan intense pace mean that by graduation,new M.B.A.’s are eager to take on the mostdemanding positions. Stern provides themwith the theoretical and practical back-ground—and the internships, contacts,and job-search tools—to make the transi-tion from one level of a business career toanother. This may be on Wall Street, inmidtown, in Silicon Alley, or at one of thethousands of other company locationsthroughout the world.

The following course sequence outlinesthe two-year study program leading to theM.B.A. degree.

Academic advisers can assist students to understand the program requirementsand options. For more information or tocontact an adviser, please visit M.B.A.Academic Advising, 44 West Fourth Street,Suite 10-160, New York, NY 10012-1126;(212) 998-0585; fax: (212) 995-4231; E-mail: [email protected]; Website: www.stern.nyu.edu/mba/advising.

Course Sequencing: Full-Time Block Program Proficiency examinations may be taken for select core courses, and, if passed, studentsearn additional elective credits.

Full-time students complete the program in four terms and follow the schedulebelow:

Semester 1 Credits

Business Writing Proficiency 0.0

Economics, Data Analysis, and/or Accounting Workshops 0.0

Stern Pre-Term 0.0

B01.1101 Business Strategy Analysis 1.5

B01.1302 Managing Organizations 3.0

B01.1303 Understanding Firms and Markets 3.0

B01.1305 Statistics and Data Analysis 3.0

B01.1306 Financial Accounting and Reporting 3.0

B01.23XX or B01.21XX 3.0

Choose one or two of the following breadth requirements:

B01.2114 Competitive Advantage from Operations

B01.2119 Fundamentals of Information Technology and Electronic Commerce

B01.2310 Marketing Concepts

B01.2311 Foundations of Finance

Total Credits 16.5

Semester 2

B01.2101 Corporate Strategy Analysis 1.5

B01.2102 Integrative Strategy Exercise 1.5

B01.2123 Global Business Environment I: Trade and Direct Investment 1.5

B01.2125 Global Business Environment II: International Macroeconomicsand Finance 1.5

B01.23XX or B01.21XX Choose remaining breadth requirement 6.0

Major/Elective Class 3.0

Total Credits 15.0 A mid-program summer internship experience is an integral part of the M.B.A. Theinternship complements the M.B.A. and enhances the educational experience.

Semester 3

Major/Elective Classes 12.0or

13.5

B02.3101 Professional Responsibility (3rd or 4th semester) 1.5

Total Credits 13.5or

15.0

Semester 4

Major/Elective Classes 13.5or

15.0

B02.3101 Professional Responsibility (3rd or 4th semester) 1.5

Total Credits 13.5or

15.0

Total Program Credits Required: 60.0

Full-Time Block Program

12

The Stern School of Business was founded in 1900 with a curriculum designed specifi-cally for part-time evening students whoworked during the day. Some 100 years later,part-time students, with their substantialwork backgrounds and perspective, continueto help define the Stern M.B.A. experienceand sustain its position as the top-rankedM.B.A. program in the nation.

In response to the evolving needs of ourstudents, we continuously update and refineour offerings. Recent innovations includeincreasing the flexibility of the program andthe speed with which the degree can beearned by students whose workweeks arelonger than ever before. An increasing num-ber of intensive classes are being offered dur-ing minisemesters, more faculty are incor-porating distance-learning elements intotheir courses, and more classes are beingoffered on weekends. As a result, students whobegin the program in the fall semester cancomplete their degrees in three years, even ifthey choose to attend only on weekends.

Langone Program students who firstenrolled fall 2000 or later: The fol-lowing course sequence is an example of athree-year program. The basic core consistsof Understanding Firms and Markets; Man-aging Organizations; Financial Accountingand Reporting; and Statistics and DataAnalysis. Students must enroll in a coregroup section of Understanding Firms andMarkets or Managing Organizations in theirfirst semester. The basic core must be com-pleted in the first two semesters and beforeany electives are taken. All core courses (withthe exception of Professional Responsibility,which may be taken at any time during theprogram) must be completed or in progressbefore any electives may be taken.

Langone Program students who firstenrolled prior to fall 2000: The M.B.A.core course requirements described here are effective as of fall 2000. Students who first enrolled prior to fall 2000, must fulfill the transition program require-ments described on the advising pages of the Langone Program Web site:www.stern.nyu.edu/mba/Langone.

The Langone Program OfficeStern School of BusinessNew York University44 West Fourth Street, Suite 1-75New York, NY 10012-1126(212) 998-0590; fax: (212) 998-4336E-mail: [email protected] site: www.stern.nyu.edu/Langone

The Langone Program: A Part-Time M.B.A. for Working Professionals

Course Sequence: The Langone Program Proficiency examinations may be taken for some core courses, and, if passed, studentsmay substitute elective credits.

Part-time students have the option to complete the program in up to six years. Thefollowing is the course sequence for completing the program in three years forstudents who begin the program in the fall semester. (A similar progression can befollowed by students who begin the program in the spring semester.):

Semester 1: Fall Credits

Business Writing Proficiency 0.0

Stern Pre-Term 0.0

First Core Group CourseB01.1303 Understanding Firms and Markets or 3.0B01.1302 Managing Organizations

Basic Core B01.1305 Statistics and Data Analysis or 3.0B01.1306 Financial Accounting and Reporting

Total Credits 6.0

January Minisemester

B01.1101 Business Strategy Analysis 1.5

Total Credits 1.5

Semester 2: Spring

Second Core Group CourseB01.1303 Understanding Firms and Markets or 3.0B01.1302 Managing Organizations

Basic Core B01.1305 Statistics and Data Analysis or 3.0B01.1306 Financial Accounting and Reporting

Total Credits 6.0

Semester 3: Summer

B01.2310 Marketing Concepts 3.0

B01.2311 Foundations of Finance 3.0

Total Credits 6.0

Semester 4: Fall

B01.2114 Competitive Advantage from Operations 1.5

B01.2119 Fundamentals of Information Technology and Electronic Commerce 1.5

B01.2123 Global Business Environment I: Trade and Direct Investment 1.5

B01.2125 Global Business Environment II: International Macroeconomics and Finance 1.5

Total Credits 6.0


B01.2101 Corporate Strategy Analysis 1.5

Total Credits 1.5

Semester 5: Spring

B01.2102 Integrative Strategy Exercise 1.5

Major/Elective Course 3.0


Total Credits 7.5

(continued on next page)

13

Core course faculty assume that students areproficient in calculus, accounting, econom-ics, data analysis, and the use of personalcomputers. It is the student’s responsibility toassess his or her proficiency in each of thesesubjects and ensure that it is at the appropri-

ate level before beginning the program.Students must also demonstrate businesswriting proficiency within the first semesterfor full-time block students and within thefirst year of the program for LangoneProgram students. Please refer to the print or

on-line registration and advising materialsof the relevant program for details on how tosatisfy the business writing requirement andensure that you are prepared.

Program Prerequisites

(continued from previous page)

Course Sequence: The Langone Program Semester 6: Summer



Total Credits 6.0

Semester 7: Fall



Total Credits 6.0


B02.3101 Professional Responsibility 1.5

Total Credits 1.5

Semester 8: Spring



Total Credits 6.0

Semester 9: Summer



Total Credits 6.0

Total Program Credits Required: 60.0

All M.B.A. students must complete all corecourses or demonstrate eligibility to sub-stitute elective credits for selected corecourses in which they are already proficient.(For details, see section on Core CourseSubstitution, page 107.)

The Stern Pre-Term (SPT)B00.2000No credit. Required for all M.B.A.students.A series of presentations, exercises, seminars,and other experiences that provide a focusedfirst exposure to the Stern M.B.A. Program.The SPT initiates the development of a mul-tidisciplinary, team-oriented perspective andanalytical thought processes for decision

making, emphasizes the importance of busi-ness communication, and lays some of thegroundwork for the academic program. TheSPT also introduces students to the Sterncommunity (students, administration, andfaculty), services available to them, studentorganizations, and each other. In the full-time SPT, students are grouped into blockswithin which they take courses throughoutthe program. In the Langone Program, stu-dents are members of core groups, withwhom they take courses in the first year.

The SPT typically begins in the last fewweeks of August for classes entering in thefall and in early January for classes enteringin the spring.

Business Strategy AnalysisB01.11011.5 credits.This course provides students with the con-cepts and tools required to devise strategiesthat enable the business to create superiorvalue for chosen customers and to capture asufficient share of that value in order to cre-ate an economic profit on its investment.The focus is on gaining competitive advan-tage at the product/market level.

The course builds a model of competitiveadvantage, applies it to the competitive mar-ketplace, and identifies the key sources bywhich firms can gain competitive advan-tage. It provides the basic set of tools thatenable students to analyze and define the

Required Core Courses (30 credits)

14

competitive situation at the product/marketlevel, to delineate the strategic options opento the firm to create or retain competitiveadvantage, and to evaluate those options inboth their competitive and economic aspects.

Managing OrganizationsB01.13023 credits.The course is divided into two major com-ponents: organization theory and organi-zation behavior. The first component ismacro in nature and focuses on organi-zational level problems such as how anorganization should be designed (e.g., cen-tralized or decentralized), what strategy itshould follow (e.g., integrated or diversified),and how the conflict and politics endemic toorganizational life can be managed. Thesecond is primarily micro in nature andfocuses on individual and group-level prob-lems such as how to evaluate and rewardemployees, design jobs that motivate people,and supervise employees. Micro is concernedwith individual and group effectiveness.Macro is concerned with overall organiza-tional performance.

This course introduces you to some of thecentral topics in management theory,research, and practice—both micro andmacro—as well as how they can be applied.It provides you with a better basis for under-standing and evaluating organizations andtheir managements. Such knowledge isequally relevant for those who aspire to posi-tions outside as well as inside management.For example, in finance, investmentbankers, financial analysts, lenders, andothers require a sophisticated knowledge oforganizations and their managements inorder to make wise decisions within theirrespective responsibilities. Furthermore,financial service organizations, as anyonewho reads the current business press mustrealize, face severe management problems of their own.

Understanding Firms andMarketsB01.13033 credits.This course employs the marginal analysisand the consumers-firms-markets perspec-tives of microeconomics to enhance M.B.A.students’ understanding of the businessenvironments in which they will be workingand the important strategic issues—espe-

cially pricing and product choice—thatcan/may/will arise in those environments. Abusiness history underlay will help set thestage and provide a strategy-structure-technology historical perspective. The coursealso explores important costing issues andconcepts. Strategy is a recurring theme.

The course structure assumes that all stu-dents have had some economics back-ground. They must be comfortable withquantitative concepts and approaches andwith graphical/geometric ways of presentingquantitative information.

Also, a historical perspective is provided ina number of areas.

Statistics and Data AnalysisB01.13053 credits.This course is designed to achieve an under-standing of fundamental notions of datapresentation and analysis and to use statis-tical thinking in the context of businessproblems. The course deals with modernmethods of data exploration (designed toreveal unusual or problematic aspects ofdata bases), the uses and abuses of the basictechniques of inference, and the use ofregression as a tool for management and forfinancial analysis.

Financial Accounting andReportingB01.13063 credits.Accounting reports are an important meansof communication with investors and a basisof contracts within and outside a firm. Thiscourse focuses more on the analysis and useof these statements than on the mere con-struction of those statements. It provides anunderstanding of what these reports contain,what assumptions and concepts accountantsuse to prepare them, and why they use thoseassumptions and concepts. It introduces adisciplined way of thinking about a businessand reporting its financial status and perfor-mance. It also gives students basic institu-tional information about how accountingstandards are set and about some recent con-troversial accounting issues. The course isnot aimed at providing “if…, then…,else…” rules about accounting. Rather itaims at providing an appreciation of thejudgment required in accounting at any onetime and across time while introducingmany advanced topics.

Many of the topics and issues presented inthe course are unique to an introductorycourse. These topics are selected by the indi-vidual faculty members and may includemergers and acquisitions, purchase andpooling, foreign exchange, and valuation.

The course uses simple examples to pro-vide students with a clear understanding ofaccounting concepts. It stresses the ability toapply these concepts to real-world cases,which by their very nature are complex andambiguous. In addition to text-orientedmaterials, the classes also include sessionsthat offer a more interactive learning envi-ronment where students can discuss applica-tions of basic concepts to the analysis ofcases, actual financial reports, and articlesfrom newspapers.

Corporate Strategy AnalysisB01.21011.5 credits.This course develops skills needed to managethe business enterprise for the creation ofcorporate advantage. To create valuethrough corporate strategy, general man-agers must command a number of criticalskills. They must be capable of creating avision that integrates multifunctional goalsand perspectives; they must be skillful atdeveloping and deploying corporateresources and capabilities; they must becompetent at applying analytical tools toindustry and strategy analysis; they mustknow how to design administrative struc-tures, systems, and processes that facilitatethe implementation of corporate strategies;they must be adept at managing the inter-personal dynamics of strategic decisionmaking; and they must be able to commu-nicate effectively their visions and strategiesto internal and external stakeholders.

Integrative Strategy ExerciseB01.21021.5 credits.Take what you’ve learned and put it intopractice. As part of the Integrated StrategyExercise, students study the case history of a company, analyzing its strengths, thechallenges it faces in the future, and thechanging environment in which it operates.Through a combination of strategy sessions,communications workshops and writtenassignments, students refine their strate-gic, analytic, decision-making, and com-munication skills.

15

Competitive Advantage fromOperationsB01.21141.5 credits.This minicourse serves as an introduction tooperations management. We approach thediscipline from the perspective of the generalmanager, rather than the functional special-ist. Coverage is intense and very selective,concentrating on a small list of powerfulthemes that have emerged as the centralbuilding blocks of world-class organizations.The course also provides tools and conceptsfrom operations management that haveproven extremely useful over the years.Topics discussed are equally relevant in themanufacturing and service sectors.

Fundamentals of InformationTechnology and ElectronicCommerceB01.21191.5 credits.Information technology (IT) is fundamentalto corporate strategy, organization structure,relationships with customers and suppliers,products, and services. This InformationSystems core course prepares students tounderstand and manage key technologiesand the way they enable business initiativesthat were inconceivable a few years ago;demonstrates specific applications of thesetechnologies through examples in e-com-merce; identifies emerging business modelsspawned by these technologies; identifies thechallenges these new businesses create fortraditional firms; and equips students to pro-vide leadership in leveraging IT for competi-tive advantage.

Global Business Environment I:Trade and Direct InvestmentB01.21231.5 credits.What are the key challenges in a global busi-ness environment? This course provides aframework for understanding the challengesfaced in contemporary business as globaliza-tion has taken place in market competition,capital markets, and the utilization of laborand managerial talent. Students learn tounderstand the structural economic factorsthat affect business decisions and the com-plications caused by government policiesand trends in world development.

Global Business Environment II:International Macroeconomicsand FinanceB01.21251.5 credits.What are the political and economic rela-tionships among nations that determinegrowth and affect the global business envi-ronment? Decision making in globalizedbusinesses requires an understanding of theunderlying concepts of international macro-economics. Students learn to understand thelinkages among world economies throughexchange rates and the balance of paymentsand the fundamental forces that determinethe growth of nations, as well as the effects ofpolicy making in a global environment.

Marketing Concepts: DeliveringValue to Businesses andCustomersB01.23103 credits.Prerequisites: B01.1303 and B01.1305.How will businesses market themselves tothrive in the 21st century? Successful man-agers must understand the essentials of mar-ket strategy and decision making. The coursealso focuses on the importance of applyingboth quantitative and qualitative methods to analyze information so that the firm can make effective decisions in the face ofuncertainty.

Foundations of FinanceB01.23113 credits.This course is a rigorous survey of major top-ics in financial markets and corporatefinance. Students develop the basic princi-ples of financial valuation and analysis, andapply these concepts to professional prob-lems of financial management in domesticand international settings.

Professional ResponsibilityB02.31011.5 credits.What ethical obligations does a managerhave in today’s complicated and dynamicbusiness environment? This capstone courseexamines professional responsibility in thecorporate arena. Students choose from amenu of classes that focus on topics such assecurities regulation, principles of businesslaw, privacy, conflicts of interest, humanresources, and responsible leadership.

Major: A student must elect a major area ofstudy and satisfy that area’s requirements,which are described in the sections contain-ing major requirements and course descrip-tions for each academic department.(Consult the index for page numbers.) Eachmajor consists of 12 credits of electives inthat area (in some cases specific electives)and up to one interarea or swing course (seebelow) that has been designated as fulfillingthe requirements for the major. A course iscounted in the department that offers it,which can be identified by the course desig-nator—the first three digits of the coursenumber. Up to 6 additional credits (for atotal of 18) may be taken in the major area.

If more than 18 credits are earned in a single course designator, they will not beconsidered among the 60 credits required for the M.B.A. degree.

Double Majors: Students may choose toseek additional specialization by taking 12credits of electives in a second area.Requirements for each double major are thesame as those for a single major in the area.No more than 18 credits may be taken in asecond major.

Comajor: Students may comajor in inter-national business or entrepreneurship andinnovation by taking 12 credits of electivecourses specified for the comajor. (Detailsare provided in the sections on those areas.)

A comajor is interdisciplinary, and coursesare distributed across course designators.Note that any course taken for a comajorthat is in the area in which a students ismajoring, will be applied to the major aswell as toward the comajor.

Electives: A maximum of 6 credits ofadvanced electives may be taken in themajor area. The remaining “nonmajor elec-tives” fulfill the program’s distributionrequirements. Students authorized to substi-tute core course credits may take additionalnonmajor credits to replace those deductedfrom the core. Within this structure, studentsare free to choose courses that best suit theirneeds and interests, which may include con-

Major and Elective Courses (30 credits)

16

centrating their electives in one of Stern’sM.B.A. Program Initiatives (see page 84).

Interarea and Swing Courses:Interarea courses (B55) are offered jointly bymore than one area and can count towardany one of the majors designated for thatcourse, if a student makes arrangements

through an adviser. Swing courses areoffered by a single department, but havebeen designated as contributing to majors inone or more other areas, if a student makesarrangements through an adviser. (Swingcourses are included in the maximum of 18credits per course designator.) Only one

interarea course or swing course with a non-major designator may be applied to any onemajor. For example, for a student majoringin finance, only one non-B40 course will becounted toward the finance major.

Department/Area Advisers

Major or Comajor Academic Adviser

Accounting Professor A. Maindiratta

Economics Professor W. Greene

Finance Professor J. KallbergProfessor F. Renwick

Information Systems Professor J. Turner

International Business (comajor) Professor T. Pugel

Operations Management Professor S. SeshadrProfessor M. Moses

Management and Organizational Behavior Professor R. Freedman

Marketing Professor J. Steckel

Statistics and Operations Research Professor E. MelnickProfessor G. Simon

Entrepreneurship and Innovation Professor A. Ginsberg

Taxation and Business Law Professor J. Reboueh (taxation)Professor J. Calderon (law)

The Stern School offers M.B.A. students theopportunity to expand their global businessskills, broaden their knowledge of regionalbusiness and cultural issues, and improvetheir foreign language skills through asemester-long or short-term program inanother country. Full-time and part-timeM.B.A. students are invited to apply in thespring semester for study abroad the fol-lowing year. Through the InternationalManagement Program (IMP), students take a full course load for a semester at one of Stern’s partner schools. Anotheroption is a three-week international businesscourse in Germany.

As many of the programs are taught inEnglish, students are not required to know a foreign language to participate. Forprograms taught in foreign languages,preference is given to applicants who areskilled in those languages. All students arestrongly advised to acquire at least somefacility with the local language prior to theirsemester abroad.

Participating schools are as follows:

Australian Graduate School ofManagement, Sydney

Bocconi University, Milan

Chinese University of Hong Kong

Copenhagen Business School

Erasmus University, Rotterdam

ESADE, BarcelonaEscola de Administração de Empresas de São Paolo, Fundação Getulio Vargas, São Paolo

HEC/ISA, ParisHong Kong University of Science andTechnology

INCAE, Costa RicaInstituto de Estudios Superiores deAdministración (IESA), CaracasInstituto Tecnológico Autónomo de México (ITAM), Mexico CityInternational University of Japan, NiigataLondon Business SchoolLondon School of Economics

Manchester Business School

Melbourne Business SchoolNanyang Technological University,SingaporeNorwegian College of Economics andBusiness Administration, Bergen

Pontificia Universidad Católica de Chile,SantiagoSt. Gallen School of BusinessAdministration, Switzerland

Stockholm School of Economics

Tel-Aviv University

Université Catholique de Louvain, Belgium

University of Cape Town

University of Cologne, GermanyUniversity of the Witwatersrand,JohannesburgVienna University of Economics andBusiness Administration (WU Wien)WHU Koblenz, Germany (short-termprogram)

Yonsei University, Seoul

Complete details on these programs—including frequently asked questions, pro-files of all partner schools, and academicpolicies—are on the M.B.A. InternationalPrograms Web site at www.stern.nyu.edu/mba/international. Further information isavailable by e-mailing [email protected] by calling (212) 998-0771.

International Programs

17

Executive ProgramsAssociate Dean: Rosemary Mathewson • Academic Director: Kenneth Froewiss • Associate Director: MaryJane Boland • Associate Director:

Renee Dugan • Associate Director: Erin O’Brien • Associate Director: Mary Ann Lee • Director: Jennifer Spry • Associate Director: Sheila

Worthington • Program Office: Henry Kaufman Management Center (KMC), 44 West Fourth Street, Suite 10-66.

xecutive Programs offers educationalprograms specifically designed to meetthe wide range of professional devel-

opment needs of today’s working professionals.Through its broad array of academically rigorous degree and nondegree programs,Executive Programs ensures a dynamic learning environment and delivers the highestquality educational experience.

NYU Stern’s traditional Executive Programsinclude the Executive M.B.A. with concentrationsin finance and management. These programsoffer experienced professionals the uniqueopportunity to combine a full-time career with a comprehensive academic program that culminates, aftertwo years, in a fully accredited M.B.A. degree.

For high-potential executives around the world, the TRIUM Executive M.B.A. program offers an authen-tically global curriculum as a result of an innovative alliance among New York University Stern School ofBusiness (NYU Stern), the London School of Economics and Political Science (LSE), and HEC Paris,Graduate Business School (HEC Paris). Graduates earn a single M.B.A. degree, jointly issued by all threesponsoring schools.

Executive Programs also delivers, on a select basis, degree programs whose schedules are tailored for theconvenience of premier corporations that seek to offer their fast-track employees a valuable benefit and pro-fessional development opportunity. Corporate sponsorship is required for all degree programs offered throughExecutive Programs, although self-sponsored applicants may be considered in exceptional cases.

In addition to its degree programs, Executive Programs also offers nondegree, noncredit custom and open-enrollment programs. Executive Programs works with leading firms across multiple industries to designeducational programs that meet organizational goals and equip employees with the latest knowledge critical for advancement and success in their careers. Individual executives can also choose to register for open-enrollment courses to gain the latest knowledge in areas of business specifically relevant to them.

The following pages provide additional information on admissions, applicant criteria, and curricula forthe programs listed above that collectively comprise Executive Programs.

E

The Executive M.B.A. is a company-sponsored program that provides expe-rienced professionals with a unique oppor-tunity to combine a full-time career with a rigorous academic program that cul-minates, after two years, in a fully accred-ited M.B.A. degree.

The Executive M.B.A. Program is for

experienced professionals with diverse back-grounds. Participants typically have at least6-10 years of experience and have been iden-tified as “high potential” employees by theirfirms. Candidates typically have high marksfrom fine undergraduate schools, have beenidentified as being the best and the brightestin their firms, and seek to prepare for even

greater future responsibilities. Students canchoose to concentrate their studies in gener-al management or finance.

The program features the following:

• A Distinguished Faculty—The facultywho teach in the Executive Programs are themost esteemed members of NYU’s Stern fac-

Executive M.B.A. Program

18

ulty as well as influential members of thecorporate and financial communities.

• Small Classes—Approximately 55 stu-dents are carefully selected to begin eachprogram. This small-class format stimu-lates the high level of interaction betweenfaculty and program participants and thusenhances the learning process.

• Convenient Class Schedule—To mini-mize time spent away from the workplaceand maximize classroom learning, classesmeet one day each week on alternateFridays and Saturdays, from 8:30 a.m. to4:30 p.m. Beginning in January 2003,Executive Programs plans to offer one pro-gram that meets on Friday and Saturday,two weekends a month. Traditionally, pro-grams begin in August. Executive Programsanticipates that the new weekend formatprogram will begin in January. Two one-week residence sessions are held duringeach of the two years. At least one residencesession is held abroad. In 2001, manage-ment students traveled to Japan and China,and finance students traveled to Londonand Paris. During 2001, the first-yearfinance students traveled to Brazil to studyBrazilian markets, and managementstudents made site visits to Los Angeles

and Palo Alto to study the dynamics ofentertainment, telecommunications, andtechnology.

• An Exceptional Diverse Student Body—Participants in the program come frommany backgrounds and include a number ofinternational executives. Current class mem-bers include attorneys, engineers, entrepre-neurs, financial professionals, communica-tions executives, and public sector employees.

• Program Services—To facilitate thebalancing of professional and personalresponsibilities with the demands of inten-sive graduate study, the program provides allacademic materials. The high level of inter-action between faculty and class membersoften extends into social functions: meals,breaks, and late afternoon receptions.

• Global Business Perspective—The pro-gram includes a global business emphasis,which is fostered by the professional and per-sonal experience of both faculty and classmembers. The international residence ses-sion, typically during the second year of theprogram, features global strategy analysisthrough on-site meetings at both corpora-tions and manufacturing plants.

Attendance at regularly scheduled OpenHouse events is recommended to learn

more about the program. For Open Housedates and further information, please call or write Executive Programs, SternSchool of Business, New York University, 44 West Fourth Street, Suite 10-66, New York, NY 10012-1126; telephone: (212) 998-0789; fax: (212) 995-4222; E-mail: [email protected]; Web site:www.stern.nyu.edu/execmba.

PREPROGRAM WORKSHOPS

All students must demonstrate proficiency incalculus, the use of computer systems, andaccounting. Workshops are held in the sum-mer before the start of the programs.Calculus proficiency is required foreffective performance in several M.B.A.courses, particularly finance, economics,and quantitative analysis. The workshopreviews intermediate algebra and differentialcalculus. Computer proficiency is essen-tial for courses such as ManagingInformation Technology and Systems and isa useful tool in other courses. The workshopintroduces the personal computer, spread-sheet analysis, and word processing.Accounting proficiency covers the basicconcepts of accounting, especially theaccounting cycle.

Participating executives come from diversefirms and industries. They generally haveapproximately 6 to 10 years of experience,and, typically, are in their mid-thirties.Candidates are considered on an individualbasis. While undergraduate records and theGraduate Management Admissions Test(GMAT) score are part of the admissionsdecision, other factors also receive high pri-ority. These are as follows:

• Employment history and achievement

• Professional potential

• Likely contribution to the class and to theprogram

• Ability to do graduate work in businesssubjects

• Motivation and commitment of thestudent

• Sponsorship by the firm

ADMISSION

Admission to the program is quite compe-titive. Candidates are reviewed by theAdmission Committee for Executive M.B.A.

Programs. The committee considers aca-demic and employment information andgives special attention to significant pro-fessional development. Organization spon-sorship and substantial work experience (of 6 to 10 years) are prerequisites of theprogram.

Deadline—Since enrollment is limitedand gaining sponsorship is sometimes alengthy process, applications should be sub-mitted as early as possible. Competition forthe program is quite keen, and applicationsare reviewed on a rolling admissions basis.The early admission deadline date isNovember 11, 2001; regular admission isMarch 1, 2002. All other applications mustbe received by May 13, 2002. Fall programclasses begin on August 18, 2002. Springprogram classes are expected to beginJanuary 2003.

Admission Requirements andFees—Details can be found in theExecutive M.B.A. Programs’ brochures,available through the offices at 44 WestFourth Street, Suite 10-66.

CONCENTRATIONS IN FINANCEOR GENERAL MANAGEMENT

Beginning with the entering class of fall2002, students can choose to major infinance or general management. All stu-dents will continue to complete thefundamental curriculum and courses ofadvanced study. In addition, some advancedstudy courses will be specifically prescribedfor students majoring in finance or generalmanagement. In addition to the requiredfundamental curriculum, advanced studies,and integrative courses, students selectelectives. Students majoring in finance orgeneral management will be able to pursuean elective course of study entirely in theirfield of concentration.

FUNDAMENTAL CURRICULUM

Understanding Firms and Markets pre-sents the major tools and concepts of eco-nomic analysis and their application to both the making of business decisions andthe formulation of policies. The course alsocovers determinants of product demand,

Executive M.B.A.

decision making with different industrystructures, network economics, cost-benefitanalysis, and government policies that affectfirms and markets.

Statistics and Data Analysis introducesquantitative methods applicable to the solu-tion of business problems. Topics includelinear programming with applications tooptimal resource allocation; probability withapplications to decision making in financeand operations; and data analysis and statis-tical inference with applications to totalquality management, polling, employee atti-tude surveys, and market research. Discussesthe use of regression and correlation analy-sis with applications to business problems inaccounting, economics, finance, manage-ment, marketing, and operations. Particularapplications include the measurement ofadvertising effectiveness in market research;the relationship between stock returns andindex returns in investments; and the rela-tionship between production time and thecharacteristics of a production process.

Professional Responsibility helps the stu-dent to explore the place of the businessleader in the broader economic, ethical, andlegal community. Students begin by exam-ining the intersection of ethics and econom-ics through cases and readings, includingexcerpts from historically significantthinkers such as Adam Smith, John Ruskin,Gandhi and Jesus, among others. Studentsalso review key aspects of U.S. law pertainingto the role of senior management and direc-tors, including fiduciary duties and theFederal Sentencing Guidelines. From theseactivities, students start to build a conceptu-al model of the professional responsibilitiesof business leaders, both to shareholders inthe firm and to other stakeholders in society.

Financial Accounting and Reportingemphasizes the external data needs andreports of users of accounting information.The course highlights the strengths andlimitations of the accounting systems.

Marketing provides a working knowledge ofthe marketing of goods and services. Areas ofstudy include capturing value, identifyingand segmenting target audiences, consumerbehavior, product positioning for competitiveadvantage, distribution, advertising, promo-tion, pricing, new product development, andmarketing research. Study groups prepareand present a marketing plan for a productor service of their choosing.

Foundations in Finance investigates busi-ness objectives; financial analysis, includingcash budgeting and ratio analysis; capitalbudgeting; portfolio analysis, includingutility analysis, basic portfolio concepts, thecapital asset pricing model, and efficientmarkets; and long-term financing strategiesof the corporation, including the theory ofvaluation for corporate securities, capitalstructure theory and policy, dividend theoryand policy, and analysis of overall cost ofcapital to the corporation.

Electronic Commerce investigates how touse emerging technologies, markets, andtrading infrastructures to transform businessstrategy, structures, and processes. It alsoexamines how managers can effectivelyaddress dynamic pricing, direct-to-con-sumer strategies, channel design and con-flicts, and new ventures for growth. It alsoconsiders what new capabilities companiesrequire to succeed in the emerging networkeconomy, and how senior executives shouldconceptualize and respond to convergentmarketplaces.

Managing Organizations looks at thefundamental questions of human behaviorwithin organizations and covers topics suchas leadership, motivation, performanceappraisal, and organizational design.

Operations Management provides a sys-tematic approach to solving a wide range ofoperating management problems. Topicsinclude planning, evaluation, and control ofoperations; inventory management; sched-uling; product design and management;resource allocation; and quality of workenvironment. The course is slanted towardservices and the design, analysis, and man-agement of processes.

Business Strategy focuses on developingskill at the application of concepts and toolsfor strategy formulation at both the businessand corporate levels of analysis. Cases focus-ing on strategic issues facing managers offirms impacted by the global economy areused to develop skills at applying conceptsand tools presented in the readings assignedfor the course.

ADVANCED STUDY

Global Perspective on the History ofEnterprise compares the rise and evolutionof corporate enterprise in major industrialsocieties since the mid-19th century, and dis-cusses how and why different countries haveachieved competitive advantages in domestic

markets and global trade at different timesin history.

Corporate Strategy focuses on the design oforganization structures and managementprocesses needed to execute strategy and onthe role of organizational purpose in gain-ing commitment to effective strategy imple-mentation. The concept of “collective mind”is developed as the perspective from which to shape organization structures and man-agement processes. This concept is com-pared and contrasted with the still popularmetaphors of organizations, such as“machines” or as “biological entities strug-gling against potential extinction,” whichunderlay much of contemporary manage-ment practice.

For students choosing to concen-trate in finance:

Corporate Finance focuses on the financingof the firm’s operations in the context ofbusiness and financial risk, valuation ofassets, and corporate objectives. Topics cov-ered include cash flows, liquidity manage-ment, investment analysis, capital structuretheory and analysis, and dividend policy. Theclass also deals with the major financialmanagement issues pertaining to a firm’soperations. Students assess the risk andreturn attributes of individual corporateprojects and of the firm itself. Topic areasinclude mergers and acquisitions; restruc-turing and financial distress; corporategovernance; financial statement analysis;forecasting financial requirements; valua-tion of real and financial assets; financingthe firm’s operations, including capitalstructure policy, dividend policy, hedging offinancial risks; and the design of financialinstruments.

International Treasury Managementemphasizes managing the treasury functionin international corporations and financialinstitutions. Among the topics covered areshort-term asset and liability management,speculating in financial markets, and hedg-ing against exchange rate and interest raterisks using derivatives including options.Also included is a two-day computerizedfinancial trading simulation known as thebourse game.

Global Investment Banking analyzes thecompetitive performance and strategic posi-tioning of financial institutions in globalcapital markets. This course provides aframework for determining who will be thewinners and losers in the wholesale financial

19

services industry. Market and client segmen-tation concepts are applied to wholesalebanking activities such as syndicated lend-ing, securities underwriting, mergers andacquisitions, corporate structuring, and pro-ject financing. The course considers interna-tional aspects of raising capital in multina-tional, multiregulatory settings. The discus-sion includes strategic positioning and exe-cution in the wholesale banking industry.This course includes the Global Study Tour.

For students choosing to concen-trate in general management:

Financial Statement Analysis describesfinancial reporting objectives and methodsused by corporations. It focuses on the analy-sis of the information in corporate financialstatements, including the impact of alter-native accounting procedures and assump-tions. The course offers ways to adjust forselected reporting differences.

Industry Analysis and Corporate Strategyis a small-group activity, in which teams ofparticipants formulate corporate strategicpolicy, giving consideration to global issues.Participants develop and defend a strategicplan for a specific company in a given indus-try. The residence session held abroad fostersan international perspective.

INTEGRATIVE COURSES

Strategic Thinking: An Integrative Exercisepresents the class with a major case studyand analysis involving the multidisciplinarychallenges faced by management in theglobal environment. Teams develop and pre-sent comprehensive strategic plans employ-ing tools, terminology, and presentationskills acquired during the various first-yearcourses. Most of the first-year faculty mem-bers are engaged in the exercise in eithercoaching or judging roles. The culminating

event pits the best of the management teamsagainst the best of the finance teams, in pur-suit of the most compelling strategy for thecompany under study.

Negotiation and Persuasion explores andassesses individual strategies and tactics forsuccessful negotiations. Group, individual,and video sessions are employed throughout.

Global Study Tour, a highlight of the sec-ond year of the program, is an overseas resi-dency that enables the students to take afirsthand look at how business is conductedin other countries. In 2001, all of our stu-dents will travel to Tokyo, Shanghai, andBeijing to become familiar with businessand culture in China and Japan and tocontrast the differences between the twocountries.

Advanced Global Business Environmentprovides an understanding of the inter-national macroeconomic and financialenvironment and how developments in thisglobal environment drive key rates for busi-ness and financial decision making. It sur-veys the determinants of economic growth,national production, unemployment, andinflation, including the effect of governmentpolicy on growth and stabilization. Thecourse uses macroeconomic and financialdevelopments around the world to motivatediscussion of the topics, which include thebalance of payments; the relationshipsamong interest rates, exchange rates, andinflation rates; the role of central bank pol-icy; the conduct of monetary policy; and thechoice of an exchange rate regime. Thiscourse includes the Global Study Tour.

ELECTIVE COURSES

While electives are limited, students in theclass of 2000 chose from among the coursesin the first list, while the class of 2001 has

chosen the electives in the second list below.

Class of 2000 Elective Courses Advanced Financial Derivatives

Applications of Portfolio Analysis

Debt Instruments and Markets

Electronic Commerce

Equity Instruments and Markets

Financial Modeling

Financial Statement Analysis

International Financial Management

Internet Marketing: Technology, Strategies,and Law

Intrapreneurship

Mergers and Acquisitions

Negotiations and Persuasion

Real Estate Finance

Restructuring Firms and Industries

Valuation

Venture Capital Financing

Class of 2001 Elective Courses Advanced Financial Derivatives

Advanced Portfolio Analysis

Applied Financial Valuation

Bankruptcy and Reorganization

Electronic Commerce

Financial Statement Analysis

Information Technology

International Financial Management

Investment Banking

Mergers and Acquisitions

Portfolio Analysis and Financial Modeling

Restructuring Firms and Industries

Topics in Corporate Finance

Venture Capital Financing

20

The TRIUM Executive M.B.A. program is thefirst executive M.B.A. program to deliver anauthentically global curriculum. TRIUMblends the complementary strengths of threepremier universities—New York UniversityStern School of Business (NYU Stern), theLondon School of Economics and PoliticalScience (LSE), and HEC Paris, GraduateBusiness School (HEC Paris)—and fiveinternational learning locations to ensureglobal depth and focus. Graduates of TRIUM

and their firms are equipped to achieve thecritical competitive advantage needed to suc-ceed in today’s increasingly global businessenvironment.

Only TRIUM integrates international eco-nomic, political, and social policy into thebusiness curriculum, as a result of the par-ticipation of LSE. These areas are critical tosuccessful global business but often areneglected in the traditional M.B.A. curricu-lum. NYU Stern brings its strength in

finance, international business, and e-busi-ness to the curriculum, and HEC Paris incor-porates its expertise in management andoperational implementation in today’s inte-grated, yet diverse, marketplace. Top-rankedfaculty members teach the modules at theirhome campuses to ensure academic excel-lence and are supported by local expertisethroughout the entire program.

Global:The TRIUMExecutive M.B.A.Program

21

THE TRIUM EXECUTIVE M.B.A.TRIUM is a rigorous program for high-potential executives from around the world,requiring intense concentration and a seri-ous commitment for 16 months. Admittedparticipants benefit from the opportunity to pursue their M.B.A. in a cohort of peersfrom countries around the globe. A mini-mum of eight years of employment experi-ence is required, although a waiver of thisprerequisite may be considered in excep-tional cases. Typical applicants includeexecutives with global responsibilities orprofessionals interested in pursuing inter-national positions within their firms. Anearned undergraduate college degree or itsequivalent is mandatory. Corporate financialsponsorship is expected. Additional factorson which the Admissions Committee basesits decision include the following:

• Record of professional success

• Employment profile and managerialpotential

• International experience

• Results of Selection Interview

• Written essays

• Transcripts

• Recommendations from two or moreprofessionals

• TOEFL or IELTS (if applicable)

• Employer support

ADMISSION

The TRIUM Admissions Committee compris-es representatives from all three schools, andadmissions decisions will be made jointlyand must be unanimous. Applicants inter-ested in obtaining further information aboutTRIUM prior to applying may request aninformational interview or attend an infor-mation session, which are held at variouslocations around the world. To apply, appli-cants may submit a written application,available in the brochure packet or in a PDFfile that can be downloaded from the TRIUM Web site at www.triumemba.org/admissions. Alternatively, applicants maychoose to apply on-line through the TRIUMcustomized, interactive, on-line applicationsystem, also found at the TRIUM Web siteabove. Only applicants who submit a formalapplication will be eligible for an invitationto a selection Interview at the discretion ofthe Admissions Committee.

DeadlinesThe application deadline for the September2001 class is May 31, 2001. TRIUM has arolling admissions policy, and applicationswill be reviewed as they are received. Ap-plicants will be notified within three monthsof submitting their formal application (writ-ten or on-line). Applications received afterthe final deadline will be given considerationonly if positions remain available. If no posi-tions remain, applicants will be given theoption of having their application consid-ered for admission to the following class.

Admission Requirements and FeesA nonrefundable application fee of $US180 isrequired. The program fee for TRIUM isUS$87,500 and includes tuition, meals,lodging, books, and materials. This fee is duebefore the start of the program; however, pay-ment schedules can be arranged in cases ofnecessity. Accepted applicants who enroll inTRIUM must deposit US$2,000 to reserve aplace in the program. The deposit is nonre-fundable, but it will be applied to the pro-gram fee. For additional details, refer to theTRIUM brochure and application packet,available through the TRIUM Programoffice at 44 West Fourth Street, Suite 10-90Aor visit the TRIUM Web site at www.tri-umemba.org.

CURRICULUM

TRIUM’s curriculum includes 10 residentialweeks, divided into six, one- or two-weekintensive modules, conducted over a 16-month period. Modules are hosted at NYUStern (two modules), LSE, and HEC Paris, aswell as at two additional premier businessschools in international locales chosenannually for their relevance to current busi-ness issues. The first two “guest partner”institutions are the Chinese University ofHong Kong and Fundação Getúlio Vargas inSão Paulo, Brazil.

To optimize classroom time, which fosters“active learning,” the TRIUM curriculumfeatures 500 live classroom hours.Approximately 300 hours of instructor-supervised distance learning is also incorpo-rated into the program to facilitate prepara-tion, follow-up, and individual and teamproject work between the modules.

Between the modules, participants con-tinue to work on individual and teamassignments via E-mail, on-line bulletinboards and chat rooms, and other distance-learning methods. Individually, participantsapply the concepts of the program to their

own companies. The team assignmentsfacilitate cohesiveness and enhance the net-worked nature of the program. The programconcludes with a final team project thatrequires participants to demonstrate theirlearning by developing a written strategy fora firm of their choice. This strategic exercise,which extends over the last several modules,incorporates the concepts, perspectives, andanalytical skills participants have learnedthroughout the program.

MODULES

London School of Economics andPolitical Science September 2001 (two weeks)The Political EconomyGlobalization: What it is, why is there adebate? Competing capitalisms: Conver-gence or continued divergence? Globalfinancial markets and corporate gover-nance. Globalization and social cohesion.Managing “deep” integration. Prospects fora new international financial architecture.Foreign direct investment: an emerginginternational regime. Integrating emergingmarket countries: Triumph of the Wash-ington consensus? International cooperationafter the Cold War.

New York University Stern School ofBusinessJanuary 2002 (two weeks)Global Strategies and FinanceGenerating profit and creating shareholdervalue. Gaining competitive advantages at theproduct/market level. Managing a globalportfolio of businesses. Relationships be-tween performance and structure. Capitalexpenditures, debt versus equity, firm val-uation, restructuring, bankruptcy, andcorporate control. How types of organiza-tions are designed to achieve strategic goals. How internal systems are managed to implement designs.

The Chinese University of HongKongApril 2002 (one week)Corporate Governance and Ownership,MarketingHow different types of owners orient and con-trol their business. The relationships betweenstockholders, board members, and execu-tives. How top power is exercised on key deci-sions. Different forms of corporate gover-nance in various countries. Consumerbehavior from a multicountry/multiculturalexperience. Global brand management as a

current key component for the firm’s strate-gic positioning. Changes in marketing prac-tices and thinking due to the e-commercerevolution.

HEC Paris Graduate BusinessSchoolJuly 2002 (two weeks)Strategy and Implementation ControlMergers, acquisitions, and alliances as toolsfor global strategy. Structures and controlsystems in multinational, multiproductcompanies. Headquarter-business unitrelations. Strategic cost analysis methods(A.B.C., A.B.M., etc.). Organizational andcultural problems. Managing excellenceand knowledge across the company.

International reporting, legal and fiscalconstraints. Managing change. Corporateculture and identity.

Fundação Getúlio VargasOctober 2002 (one week)Managing Diversity, Managing RiskManaging economic, legal and culturaldynamics in diverse markets. The impact ofdifferent cultures and regulatory environ-ments. Consumer behavior in emergingcountries. Creating consistent global stan-dards. Turning contextual and culturaldiversity into an advantage. Operating inunstable and unpredictable markets. Growthopportunities through privatization andderegulation.

New York University Stern School ofBusinessJanuary 2003 (two weeks)Competing in a New Era and ConclusionThe impact of technology on biotechnology,media and entertainment, and other indus-tries. Branding in an on-line world. Pricingand competition in the e-economy.Leadership and management in an era ofchange and upheaval. Ethical and philo-sophical questions. Completion of the finalproject, with full-scale presentation to three-school board and faculty, outside academics,and industry experts.

22

In today’s increasingly competitive businessenvironment, corporations are exploringinnovative strategies to develop and retaintheir top talent. To help firms meet thisincreasingly challenging objective, Execu-tive Programs selectively work with top-tier corporations to design corporate degree

programs. Professionals who pursue theirM.B.A. through an employer-sponsoredcustom program are held to the same rigor-ous academic standards and applicationrequirements that constitute the Sterneducational experience. Similar to otherdegree programs offered at Stern, an ad-

missions committee will review all appli-cations received and determine candidatesqualified for enrollment in the program. For more information, please contact the Executive Programs office at 44 WestFourth Street, Suite 10-66.

Corporate Degree Programs

OPEN ENROLLMENT

For working professionals interested in gain-ing up-to-the-minute knowledge on issuesthat affect them daily in the business world,Executive Programs offer a diverse set of rel-evant, rigorous courses in flexible formats.World-class faculty members teach coursesin disciplines including finance andaccounting; management and strategy;leadership and communication; e-business;and entrepreneurship. Select courses arejointly sponsored by Stern and other leadinginternational institutions of higher educa-

tion and are offered both in New York andabroad. For more information on the latestopen-enrollment course offerings, contactthe Executive Programs office at 44 WestFourth Street, Suite 10-66.

CUSTOM

For companies interested in providing exec-utive education for their employees that isuniquely tailored to address specific needsand interests, Executive Programs also offerscustom nondegree programs. Workingclosely with each client, Executive Programs

develops and delivers a custom program thatwill equip the firm’s employees with theknowledge and tools needed to achieve cor-porate goals. Executive Programs activelycollaborates with companies on the design,level, focus, method, and schedule that bestsuits the target group within the organi-zation. A custom program is an efficient way to communicate to a team or develop a team-oriented focus on a particular cor-porate objective. For more information on custom nondegree programs, contact the Executive Programs office at 44 WestFourth Street, Suite 10-66.

Nondegree Programs

23

Summary of Requirements

Master of Science (in Information Systems)Director: Alexander Tuzhilin • Program Office: KMC, 44 West Fourth Street, 9th Floor • Telephone: (212) 998-0810

he Master of Science (in Informa-tion Systems) is a collaborative pro-gram between the Stern School and

the Department of Computer Science at the Courant Institute of Mathematical Sciences,Graduate School of Arts and Science (GSAS). It is designed to meet the urgent need of industry for people with expertise in both informationtechnology and management. Graduates from this program are equipped to take leadership roles in the development and use of leading-edge computer applications in industry.

A candidate must be admitted to the Masterof Science (in Information Systems)Program either through the Stern School orthe Department of Computer Science of theGraduate School of Arts and Science.Students taking their degree at GSAS willmeet the GSAS requirements for the master’sdegree, while those at the Stern School willmeet its requirements. A student’s programwill be approved by an advisement commit-tee comprising representatives from theDepartment of Computer Science and theStern School.

The Master of Science (in InformationSystems) consists of 39 points (12 coursesplus a required master’s project). Full-timestudents are expected to complete therequirements over a 12-month period; part-time students should complete the program

within four years. Students must have a B average or better in order to graduate with the M.S. (in I.S.) degree.

The program consists of 10 required core courses, two electives, and the projectcourse. Specified courses might be waivedfrom a student’s program in consultationwith the adviser. If a core course is waived,the student must select a substitute coursefrom the list of permissible elective courses.This list may be supplemented from time totime by special topics courses and newlydeveloped courses.

To complete the program, students musttake at least five courses in Computer Scienceand five courses in the Stern School. Theremaining courses include two that may betaken in either school, and the required pro-ject course. In addition, students may apply

for both M.B.A. and M.S. degree programs.Admission to one program, however, doesnot guarantee admission into the otherprogram.

Note: Students must apply to and beginthe M.B.A. first. After commencing theM.B.A. Program, students may apply to theM.S. Program. If accepted, students mustcomplete the entire M.B.A. Program (60 credits) before commencing the M.S. For more information about the M.S. (in I.S.) Program and the admissionsprocedures, refer to the Master of Science in Information Systems publication avail-able from the Department of Informa-tion Systems or visit the Web site at http://krypton.stern.nyu.edu/~ms-is.

Interested students can contact thedepartment directly at (212) 998-0810.

Core Courses The Stern School: General Business (twocourses required)

Financial Accounting andReportingB01.1306

Understanding Firms andMarketsB01.1303

Managing OrganizationsB01.1302

Students with prior background in theseareas may, with the approval of the adviser,substitute more advanced general businesscourses, such as the following:

Marketing Concepts: DeliveringValue to Customers andBusinessesB01.2310

Foundations of FinanceB01.2311

The Stern School: Department of Infor-mation Systems (three courses required)

T

24

Managing the Digital FirmB20.2314

or

Information Technology andStrategy B20.2318

Design and Development ofWeb-Based SystemsB20.3322

Data Mining and KnowledgeSystemsB20.3336

or

Electronic CommerceB55.3338

Courant Institute of Mathematical Sciences:Department of Computer Science (fivecourses required)

Fundamental AlgorithmsG22.1170

or

Programming LanguagesG22.2110

Design of Operating SystemsG22.2250

Data Communications andNetworksG22.2262

Internet and Intranet Protocolsand ApplicationsG22.3033

Elective Courses Financial Information SystemsB20.3350

Risk Management SystemsB20.3351

Business Process Design andImplementationB20.3356

Current TopicsB20.3362

Unix ToolsG22.2245

Advanced DataCommunications and NetworksG22.2263

Computer GraphicsG22.2270

Database SystemsG22.2434

Artificial IntelligenceG22.2560

Distributed ComputingG22.2631

Introduction to MultimediaG22.3033

Internet and Intranet Protocolsand ApplicationsG22.3033

Programming for the WWWG22.3033.02

Master’s Project The master’s project involves the analysis,design, and implementation of a softwaresystem in a business environment. The pro-ject will typically be carried out as the stu-

dent takes the Design and Development ofIntegrated Information Systems andSoftware Engineering courses and is super-vised in the context of a required internship

course, Internship in Computer Science/Information Systems Research, G22.3812.

25


Master of Science (in Mathematics/Statisticsand Operations Research) ProgramDirector: Edward L. Melnick • Program Office: KMC, 44 West Fourth Street, 8th Floor • Telephone: (212) 998-0440 • Web site: www.stern.nyu.edu/sor

he Master of Science (in Mathematics/Statistics and Operations Research) trainsstudents in applied mathematics with a

concentration in statistics or operations research. A student’s program of study consists of graduate courses from both the Department of Mathematics atthe Courant Institute of Mathematical Sciences,Graduate School of Arts and Science (GSAS), and theStern School’s Department of Statistics and OperationsResearch. Graduates from this program seek employ-ment in such diverse areas as financial analysis, finan-cial engineering, market research, biostatistics, pro-duction management, econometrics, and forecasting.

Students should have a sound foundation inmathematics, including at least three semes-ters of calculus and one semester of linear ormatrix algebra.

A candidate must be admitted to eitherthe Stern School or GSAS as a candidate fora master’s degree. A student’s program willbe approved by an advisement committeecomprising one representative from Courantand one from the Stern School.

Twelve courses of 3 credits each arerequired for the degree. Of these, eight arerequired core courses and four are electives.More advanced students can waive corecourse requirements.

Students taking their degree at GSAS willmeet the GSAS requirements for the master’sdegree, while those at the Stern School willmeet its requirements.

Admission to the M.S. Program does not

guarantee admission to the Stern M.B.A.Program. Students interested in transferringto the M.B.A. Program must submit a newapplication and meet all admission criteriaand application deadlines.

For more information about the M.S. (inMathematics/Statistics and OperationsResearch) Program and the admissions pro-cedures, please contact the program office at(212) 998-0440.

Core Courses Eight courses are required as follows:

Linear Algebra IG63.2110(Courant)

Introduction to MathematicalAnalysis IG63.1410(Courant)

Scientific ComputingG63.2043(Courant)

Either

Introduction to MathematicalAnalysis IIG63.1420(Courant)

or

Numerical Methods IG63.2010(Courant)

Introduction to the Theory ofProbabilityB90.3301(Stern)

Statistical Inference andRegression AnalysisB90.3302(Stern)

Statistical Computing andSampling MethodsB90.3314

Introduction to StochasticProcesses IB90.3321(Stern)

Note: Students with a limited back-ground in mathematical analysis shouldtake Multivariable Calculus, G63.1002(Courant) before taking G63.1410.

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The remaining elective courses can be takenat either the Stern School or Courant.Courses other than those listed here may betaken as electives with the approval of theadvisement committee.

Some courses at Courant and the SternSchool cover similar topics. Students cannotreceive credit for taking these courses at bothschools. Exceptions to this rule may be madeby the advisement committee. The electivecourses are as follows:

COURANT INSTITUTE OFMATHEMATICAL SCIENCES

Multivariable CalculusG63.1002

Linear Algebra IIG63.2120

Introduction to MathematicalAnalysis IIG63.1420

Complex Variables IG63.2450

Complex Variables IIG63.2460

Ordinary Differential EquationsG63.2470

Numerical Methods IG63.2010

Numerical Methods IIG63.2020

Advanced Numerical Analysis:Nonlinear OptimizationG63.2031

Mathematical ModelingG63.2781

Mathematical StatisticsG63.2962

Applied Mathematics IG63.2701

Applied Mathematics IIG63.2702

Topics in Applied ProbabilityG63.2936

Introduction to Computers andComputationG22.1110

Fundamental AlgorithmsG22.1170

Programming LanguagesG22.2110

Advanced ProgrammingLanguagesG22.2111

Database Systems IG22.2433

Database Systems IIG22.2434

Design of Operating SystemsG22.2250

Advanced Design of OperatingSystemsG22.2251

Probability: Limit Theorems(First Term)G63.2911

Probability: Limit Theorems(Second Term)G63.2912

Advanced Topics in Probability(First Term)G63.2931

Advanced Topics in Probability(Second Term)G63.2932

Computing in FinanceG63.2045

Mathematical Finance IG63.2791Note: Equivalent to B90.2308. Both cannot be taken for credit.

Mathematical Finance IIG63.2792Note: Equivalent to B90.3323. Both cannot be taken for credit.

THE STERN SCHOOLDEPARTMENT OF STATISTICSAND OPERATIONS RESEARCH

Regression and MultivariateData AnalysisB90.2301

Forecasting of Time Series DataB90.2302

Statistical Quality ControlB90.2303

Applied Stochastic Processes forFinancial ModelsB90.2308Note: Equivalent to G63.2791. Both cannot be taken for credit.

Mathematics of InvestmentB90.2309

Introduction to OperationsResearchB90.2310

Multivariate Statistical AnalysisB90.3303

Advanced Theory of StatisticsB90.3304

Bayesian Inference andStatistical Decision TheoryB90.3305

Time Series AnalysisB90.3306

Introduction to StochasticProcessesB90.3321

Data Mining in Finance:Computer and Data IntensiveMethods in Statistical FinancialEngineeringB90.3355

Electives

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Categorical DataB90.3307

Sampling TechniquesB90.3308

Experimental DesignB90.3309

Stochastic Models in Finance I:Equity and Currency MarketsB90.3322

Stochastic Models in Finance II:Fixed Income InstrumentsB90.3323

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Master of Science (in Statistics andOperations Research) ProgramDirector: Edward L. Melnick • Program Office: KMC, 44 West Fourth Street, 8th Floor • Telephone: (212) 998-0440 • Web site: www.stern.nyu.edu/sor

he Master of Science (in Statistics andOperations Research) is dedicated toproducing highly skilled statisticians

and operations analysts with an in-depth knowl-edge of issues from a functional area. Students maytake graduate courses from the Department ofMathematics at the Courant Institute of Mathe-matical Sciences, the Graduate School of Arts andScience (GSAS), and departments within the SternSchool, in addition to the courses offered by theDepartment of Statistics and Operations Research.Graduates from this program now work in such diverseareas as consulting, finance and banking, insurance,market research, medical and pharmaceuticalresearch, and the management of operations.

Students must complete the equivalent of 12semester courses. Classes meet twice a weekfor one hour and 20 minutes; a semester isabout 14 weeks.

Full-time students can complete thisprogram in three semesters.

Students must have the equivalent of two semesters of undergraduate cal-culus and one semester of linear or matrix algebra in order to enter the

M.S. (in Statistics and Operations Re-search) Program.

Upon admission to the program, studentsmust select their courses in consultationwith an M.S. adviser in the Department ofStatistics and Operations Research. A pro-gram consists of 12 courses: a minimum ofseven courses in statistics and operationsresearch and a minimum of three courses inanother area of study.

Admission to the M.S. Program does notguarantee admission to the Stern M.B.A.Program. Students interested in transferringto the M.B.A. Program must submit a newapplication and meet all admission criteriaand application deadlines. For more infor-mation about the M.S. (in Statistics andOperations Research) Program and theadmission procedures, please contact theprogram office at (212) 998-0440.

Advanced Courses in Statistics and Operations Research

Candidates must take a minimum of sevenadvanced courses in statistics and/or opera-tions research.

A student must elect an area of applica-tion such as actuarial science, financialmodeling, marketing research, or operationsmanagement.

Six examples of representative programs,each consisting of seven advanced courses,are given below. They are presented as

suggestions only, and candidates are notrestricted to choosing from among them.

1. STATISTICS SPECIALIZATIONIntroduction to the Theory ofProbabilityB90.3301

Statistical Inference andRegression AnalysisB90.3302




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Students who are interested in pursuing anM.B.A. as well as an M.S. can consider a jointprogram. This program would require a

total of 87 points of graduate study at Sternwith a minimum of 27 points in theDepartment of Statistics and Operations

Research. For details, please consult thechairman of the department.

Joint M.S.-M.B.A.Program

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Stochastic Models in Finance I:Equity and Currency MarketsB90.3322


Advanced Probability TheoryB90.3352

2. FINANCIAL MODELINGApplied Stochastic Processes forFinancial ModelsB90.2308

Introduction to the Theory ofProbabilityB90.3301



Stochastic Processes I: Equityand Currency MarketsB90.3322

Statistical Inference andRegression AnalysisB90.3302


Students should also consider the followingcomputer intensive courses as electives forthis specialization:

Statistical Computing andSampling Methods withApplications to FinanceB90.2314

Data Mining in Finance:Computer and Data IntensiveMethods in Statistical FinancialEngineeringB90.3355

Students should also consult the Departmentof Finance for suggested electives.

3. ACTUARIAL SCIENCESPECIALIZATIONStatistics and OperationsResearch Courses

Forecasting Time Series DataB90.2302

Mathematics of InvestmentB90.2309

Introduction to OperationsResearchB90.2310


Life ContingenciesB90.3335

Finance Courses

Foundations of FinanceB01.2311

Corporate FinanceB40.2302

Economics Courses

Understanding Firms andMarketsB01.1303

Global Business EnvironmentB01.2303

4. MARKET RESEARCHSPECIALIZATIONRegression and MultivariateData AnalysisB90.2301


Statistical Inference andRegressionB90.3302


Categorical DataB90.3307

Sampling TechniquesB90.3308

Experimental DesignB90.3309

Students should also consult the Departmentof Marketing for suggested electives.

TIME LIMIT FOR M.S. (INSTATISTICS AND OPERATIONSRESEARCH) PROGRAM

All degree requirements of the M.S. (inStatistics and Operations Research) Programmust be completed within six years, providedcontinuous matriculation is maintained.

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Life of a Faculty Member

Doctor of Philosophy ProgramDirector: Edwin J. Elton • Program Office: Tisch Hall, 40 West Fourth Street, Suite 8-11 • Telephone: (212) 998-0740

n emphasis on research and knowledgecreation distinguishes the Ph.D. from otherdegrees offered at Stern. The Ph.D. Pro-

gram deepens a student’s understanding of a field of study and research methods and prepares the stu-dent to conduct independent investigations. Each Ph.D. dissertation makes an original and significantcontribution to knowledge.

The Doctor of Philosophy Program is primarilyintended to prepare students for faculty positions atmajor academic institutions.

Business schools have a continuing demand forPh.D. graduates. Eighty-five percent of the recent Stern School Ph.D. graduates have taken academic jobs. Recent placement has been in U.S. universities including Brown, Carnegie Mellon, Columbia, Cornell,Harvard, Massachusetts Institute of Technology, Michigan, North Carolina, Stanford, University of Californiaat Berkeley, University of California at Los Angeles, University of Pennsylvania (Wharton), Wisconsin, andforeign universities such as INSEAD, London Business School, and University of Toronto.

The Ph.D. Program is also appropriate for students seeking highly specialized research positions ingovernment or agencies such as the Federal Reserve Board or the Securities and Exchange Commission. For example, recent graduates have been placed in research institutions at the Federal Reserve, the World Bank, and the Indian government. Those students interested in industry employment should examine master’s degree programs discussed elsewhere in the bulletin.

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A faculty member has two major responsibil-ities: research and teaching.

Research requires self-discipline, intellec-tual curiosity, creativity, and technical skills.Thus, students admitted to the Doctor ofPhilosophy Program will have demonstratedthese qualities in their academic perfor-mance, high scores on standardized tests,and through former teachers recognizingthese qualities. Faculty members have

tremendous freedom in choosing researchareas that interest them and in how theyallocate their time. Successful faculty mem-bers enjoy this freedom and thrive in anunstructured environment. The hours a fac-ulty member works in a week are as many asthose in any other high energy profession,but faculty members have the freedom toselect what to work on, and they have greatcontrol over their schedule.

Great teaching is first of all an attitude, afeeling that imparting knowledge is impor-tant. Great teachers enjoy the intellectual giveand take of the classroom and are excitedwhen students grasp difficult concepts.Successful teaching also requires the timeand effort to make the classroom excitingand productive.

How Should a Student Select a Ph.D. Program?

The most important characteristic of aschool that a prospective student shouldexamine is the research environment. Ina study published in the December 2000Academy of Management Journal,

Stern ranked fourth out of more than400 universities for faculty research pro-ductivity in top-tier academic journals.Five of Stern’s areas of study were rankedin the top 10.

Stern’s faculty, which number over 200,include current and past presidents of aca-demic associations, members of the NationalAcademy of Arts and Sciences, award-win-ning authors, and dozens of scholars whose

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research and teaching skills are recognizedworldwide. In addition, 71 of Stern’s facultymembers serve on the editorial boards ofleading research journals.

The size of Stern’s faculty means that nomatter what your research interest is, or whatit becomes, you will have distinguished pro-fessors who can train you and share yourinterests. This is a great advantage in com-parison to schools with a limited number offaculty members in each area.

NYU’s faculty members have broad theo-retical interests and strong technical skills.Moreover, our location means that the facul-ty members also have great institutionalknowledge and access to important industrypractitioners and influential policy makers.Thus, Stern students develop real-worldsmarts as well as strong analytical and con-ceptual tools.

NYU’s location has another advantage.Much of the data that is interesting to

analyze is within business firms or finan-cial institutions. Because of our strong ties to New York City’s global businesscommunity, Stern doctoral students havegreater access to this data than do stu-dents elsewhere.

Finally, Stern’s faculty is one of the most international of any major busi-ness school, broadening the scope of thePh.D. experience.

Admission Criteria

More than any other program, Ph.D. admis-sion places emphasis on past academicaccomplishments and on evidence of

promise as shown on standardized tests andtranscripts. Ph.D. students need a highdegree of technical competence, energy, cre-

ativity, and intellect and a clear career goal.We look for evidence of these qualities inapplicants’ essays and résumés.

Procedures An application may be obtained through ourWeb site at www.stern.nyu.edu/phd; bywriting to the Doctoral Office, Stern Schoolof Business, New York University, 40 WestFourth Street, New York, NY 10012-1118; or by calling the Doctoral Program Office at(212) 998-0740.

GMAT scores are required. While we preferthe GMAT, we will accept GRE scores. Forapplicants whose native language is notEnglish, the Test of English as a ForeignLanguage (TOEFL) scores are required inaddition to GMAT scores. You must plan totake these tests so that we have results by

February 1. Check with Educational TestingService (ETS) to find out the last date bywhich to register to ensure that your testscores reach us in time. The ETS reportingcode for the GMAT and TOEFL is 2586; thereporting code for the GRE is 2582.

Admission Deadline

The deadline date for submitting the appli-cation is FEBRUARY 1. We admit one classa year, which starts in September. We admitfull-time students only.

Prerequisites Prerequisites are calculus, matrix algebra,basic economics (microeconomics andmacroeconomics), financial accounting,and psychology or sociology. A student cancorrect a deficiency in psychology or sociol-

ogy or accounting during the first year ofstudy, but every student should satisfy theprerequisites in calculus, economics, andmatrix algebra before starting doctoralstudy. Previous graduate work is not an

admission requirement. When appropriate,credit may be given for past academic workin meeting part of the course requirements.

Financial Aid A Ph.D. student need not apply separately forfinancial aid because the Ph.D. AdmissionCommittee assumes that every doctoral stu-dent wishes to receive aid. Awards consist ofstipends and tuition scholarships and recog-

nize merit rather than need. Funding isguaranteed for five years with satisfactoryacademic progress.

The Stern School makes every effort tooffer financial aid similar to packages

offered by other high-ranking doctoralprograms. The current financial aidpackage is listed on our Web site.

The Stern School offers majors in eight fieldsof study. Additionally, students may choose tocomajor in international business with anyof the majors listed below:

• Accounting or Taxation

• Economics

• Finance (corporate finance andinvestments)

• Information Systems

• Management (corporate strategy, organi-zational behavior, organization theory)

• Marketing

• Operations Management

• Statistics and Operations ResearchMajors

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Doctoral study begins with three researchskills methodology courses. The studentmust demonstrate competence at the Ph.D.level in probability, statistics, and microeco-nomics. Each program of study must incor-porate the three research skills methodologycourses, seven courses in the major field,four electives, and 18 points of dissertationseminars. The program of study for an inter-national business comajor must include the

three research skills methodology courses,four courses in international business, sixcourses in a comajor field, one course to beapproved by the area coordinator, and 18points of dissertation seminars. Two doctoralseminars are required, and students mustpresent a research paper in a formal interna-tional business seminar at least once beforethe end of the third year.

After completing all course work, eachstudent takes a comprehensive examination.The doctoral program concludes with a stu-dent’s writing and defending a dissertation.The student works with a dissertation com-mittee consisting of a chairperson and atleast two other faculty members. Usually, thechairperson and one committee memberrepresent the major field, and one memberrepresents an outside field.

DoctoralProgram ofStudy

Rules and Regulations

Course requirements, time limits, andother procedures are thoroughly explainedin the doctoral handbook. Each enrolleddoctoral student must obtain a copy anduse it as a reference.

Time Limits and Residency

Students complete the program on average infour to five years. A student should pursue thedoctoral program with a strong commitment.A student who extends the doctoral programbecomes less likely to complete it. Moreimportantly, courses taken several years agooften represent knowledge that has grownobsolete. Therefore, every student must do thefollowing:

1. Pass the comprehensive examinationbefore starting the third year of the pro-gram.

2. Successfully defend a thesis proposal bythe end of the fourth year.

3. Complete all degree requirements withinsix years.

4. Maintain continuous matriculation.

There are other rules that govern time limits.They are explained in the doctoral hand-book. All students should obtain a copy andbe careful to follow these limits. Students notmeeting these limits are asked to leave theprogram.

Computing Facilities

All doctoral students have personal com-puters and desks assigned to them. About 20new machines are bought each year for doc-toral student use. Each Stern student receivesa Novell account, an E-mail account, and anaccount on Sales (Unix time-sharing sys-tem). Novell accounts provide access to the

computers in offices, computer labs, on E-mail stations, and electronic classrooms.Space on sales is available to all students forpublishing Web pages. Sales also providesaccess to applications software, includingSAS and SPSS for statistical analysis.Microsoft Windows NT/98, Microsoft Office

2000, Netscape Navigator, Minitab, Lindo,and many other course-related applicationsare available to the Stern community. AllStern computers are networked and provideaccess to the Internet, E-mail, Unix (Sales),and laser printers. For more information, seepage 123, Computing at Stern.

Web Site For the most complete and current informa-tion on the doctoral program, please visit ourWeb site at www.stern.nyu.edu/phd. This

site contains links to the Web pages of eachour major areas, listings of faculty and stu-dent papers, recent dissertation titles, and

other information of interest to prospectivestudents. We regularly update the Ph.D. Website, so we encourage you to check it often.

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Accounting, Taxation, and Business Law

he accounting, taxation, and businesslaw curriculum is intended for the busi-ness professional who wishes to gain

a deeper understanding of accounting systems and their role in decision making within and outside of the business entity. It offers an attrac-tive second major for students in finance who wishto specialize in financial statement analysis, as well as courses of specific interest for managers in various fields.

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Chairman: Paul R. BrownProfessors: Kashi R. Balachandran, JohnS. Bildersee, Frederick D. S. Choi, SeymourJones, Baruch Lev, Joshua Livnat, JamesOhlson, Joseph Rebovich, Joshua Ronen,George H. Sorter

Associate Professors: Eli Bartov, Paul R.Brown, Alex Dontoh, Haim Dov Fried, TeresaJohn, April Klein, Ajay Maindiratta, James R.Ratliff, Stephen Ryan, Jeremy Wiesen, PaulZarowinAssistant Professors: Jeanne Calderon,Dan Gode, Richard Hendler, Rachel Kowal,

Carol Marquardt, Partha MohanramDepartment Office: Tisch Hall, 40 WestFourth Street, 3rd and 4th FloorsM.B.A. Program Adviser in Account-ing: Ajay Maindiratta

Accounting The graduate program in accounting offerselective courses in the areas of financialstatement analysis, financial accounting,managerial accounting, business law formanagers, and strategic business planningand taxation. These courses are intended toaid students in gaining a deeper understand-ing of accounting reports, the constructionof an accounting information system tostrengthen the firm’s competitive advantage,the opportunities available in minimizingtax payments, and the implications of thelegal system for managers.

To major in accounting, the student maytake any 12 credits of B10 or B95 course workas described in the courses below. Studentsinterested in the CPA Professional Programtrack should contact the M.B.A. Aca-demic Advising Office. In addition, students should visit the department’s Web site,www.stern.nyu.edu/acc, for informationon current course offerings and how theyrelate to various fields.

Financial Accounting andReportingB01.1306

Financial Reporting andAnalysisB10.2302

An Integrated Approach toFinancial Statement AnalysisB10.2303

E-Commerce: Accounting,Control, and ValuationB10.3150

Information Analysis forManagerial DecisionsB10.3305

AuditingB10.3313

Topics in Corporate Strategiesand Financial DisclosuresB10.3320

Analysis of FinancialInstitutions and FinancialInstrumentsB10.3321

Accounting for Mergers,Acquisitions, and RelatedMattersB10.3330

International Accounting andFinancial Statement AnalysisB10.3335

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Accounting and Valuation Issues in theEntertainment, Media, andTelecommunications IndustriesB10.3355

Accounting, Tax, and LegalIssues for EntrepreneursB10.3360

Entertainment LawB95.2120

Taxation of Individuals andBusiness IncomeB95.2302

Strategic Business Planning and TaxesB95.2305

Business Law for ManagersB95.2314

Taxation of Mergers, Acquisitions, and RelatedMattersB95.3336

Tax Aspects of InternationalBusinessB95.3343

Doctoral Courses

Seminar on Accounting ThoughtB10.4110

Doctoral Seminar in AccountingB10.4111

Theory and Research inManagerial AccountingB10.4302

COURSE DESCRIPTIONS

Financial Accounting andReportingB01.13063 credits.Accounting reports are an important meansof communication with investors. Thiscourse focuses on the development, analysis,and use of these reports. It provides anunderstanding of what these reports contain,what assumptions and concepts accountants

use to prepare them, and why they use thoseassumptions and concepts. Uses simpleexamples to provide students with a clearunderstanding of accounting concepts. Itstresses the ability to apply these concepts toreal-world cases, which by their very nature are complex and ambiguous. In addition totext-oriented materials, the classes alsoinclude cases so that students can discussapplications of basic concepts, actual finan-cial reports, and articles from newspapers. Inaddition to traditional introductory topics,other topics may include mergers and acqui-sitions, purchase and pooling, free cash flow,and financial statement analysis.

Financial Reporting andAnalysisB10.2302Prerequisite: B01.1306. Not to be takenby students who have taken B10.3320. 3 credits. Fall and spring terms.The course uses tools learned in FinancialAccounting and Reporting, such as ratio andaccounting analysis, to discuss, in depth,financial reporting principles, emphasizingthe link between the reporting principles andthe financial statements. Students learn how management uses financial reportingdecisions to influence reported income andasset and liability values, and they gain the tools necessary to analyze the impacts of alternative reporting decisions on finan-cial statements.

Ideal for students who wish to pursuecareers in investment banking, investmentmanagement, and consulting as well aspublic accounting. In addition to being arequired course for CPA-track accountingmajors, it is a highly recommended coursefor majors in finance, economics, market-ing, and information systems.

An Integrated Approach toFinancial Statement AnalysisB10.2303Prerequisite: B01.1306. 3 credits.Describes financial reporting objectives andmethods used by corporations. Focuses onthe analysis of the information in corporatefinancial statements, including the impactof alternative accounting procedures andassumptions. Offers ways to adjust for select-ed reporting differences. Discusses applica-tions using cross-sectional and time seriesanalysis. Case studies (including firms withinternational operations), computer data-

bases, and computer-based assignments maybe used. An understanding of basic financialconcepts is recommended.

E-Commerce: Accounting,Control, and ValuationB10.3150Prerequisite: B01.1306. 1.5 credits.This course addresses a set of unique finan-cial reporting and managerial control issuesthat result in e-commerce firms having val-uations seemingly different from most otherfirms. Financial reporting issues affectingfirms in the digital economy include howand when revenue is recognized, howexpenses are recognized for the granting andexercising of employee and director stockoptions, and the treatment of expendituresrequired to build important assets such assoftware and brand recognition. Uniqueaspects of managerial control in e-com-merce firms include security of systems andtransactions, integrity of record keeping,employee compensation, and considerationsprovided to suppliers. The course also exam-ines market valuation of e-commerce firms.

Information Analysis forManagerial DecisionsB10.3305Prerequisite: B01.1306. 3 credits.This course complements courses addressingoperational management, marketing, andstrategy. Cost management plays a key sup-porting role in the creation of more value tothe consumer of a firm’s products and ser-vices, thus enhancing its competitiveness.Any organization can benefit from cost man-agement systems that accurately provideinformation and facilitate integration of ini-tiatives such as total quality, new productand service design, cost reduction, and busi-ness process improvement, which enhancetheir competitiveness and profitability.

Topics include design and implementa-tion of cost measurement systems for pro-duction and strategy choice; managementcontrol; enhancement of quality; timelinessand the measurement of customer, product,and market regional profitability; and theuse of cost information during design andproduction stages. Learn to cost products,services, and strategies in manufacturing,financial, and service industries with accu-racy. Activities that do not contribute value tothe firm and those that increase efficiency ofoperations are discerned, facilitating intelli-

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gent strategic budgeting processes. Efficientcost reduction approaches, monitoring ofperformance, quality enhancement projects,and strategies to increase profitability of thefirm are components of the course. Learn tomeasure outcomes through performancemeasures such as deviations from standardnorms, return on investment, economicvalue added, and balanced score card tech-niques. Tools such as activity-based costing,target costing, Kaizen, and customer prof-itability analysis are discussed using appro-priate case studies from companies.

AuditingB10.3313Prerequisite: B01.1306. 3 credits. Fall and spring terms.An intensive study is made of fundamentalconcepts and principles underlying theexamination of the financial statement bythe independent public accountant. Auditingand reporting standards and the responsibil-ities assumed by the auditor in the attestfunction are analyzed within the broadframework of the code and principles of pro-fessional conduct. Emphasis is placed on theevaluation of evidential matter and the sys-tem of internal control. Current literature isexamined, including the publications of theAICPA Auditing Standards Board.

Topics in Corporate Strategiesand Financial DisclosuresB10.3320Prerequisite: B10.2303. 3 credits. Fall and spring terms.The course focuses on analysis of theaccounting methods and issues arising inconnection with business combinations;mergers and acquisitions; the debate thathas been and still is raging about the pur-chase vs. pooling methods in the press; theSEC and the FASB deliberations; and on thecapital market impacts of these methods.The classes address related accounting anddisclosure issues as these impinge on combi-nation decisions by companies and theresulting market reaction. Academic litera-ture reporting on empirical or analyticalstudies of business combinations is occa-sionally discussed. Active participation bystudents in the form of project presentationsis part of the course.

Analysis of FinancialInstitutions and FinancialInstrumentsB10.3321Prerequisite: B10.2303. 3 credits.Focus is on consolidations, mergers andacquisitions, foreign currency translation,and other timely accounting issues. Includesfinancial statement analyses of specializedservice industries such as utilities, commu-nications, insurance, and financial services.Case studies of selected firms, cross-sectional,and time-series analysis may be used.

Accounting for Mergers,Acquisitions, and RelatedMattersB10.3330Prerequisite: B01.1306. Not to be takenby students who have taken B10.3320. 3 credits. Fall and spring terms.This course focuses on four major issues infinancial reporting: accounting for mergersand acquisitions; preparation of consoli-dated financial statements; the translation of foreign currency financial statements and foreign currency transactions; andaccounting for derivatives including the use of derivatives in hedging transactions.Recommended for both accounting andfinance majors.

International Accounting andFinancial Statement AnalysisB10.3335Prerequisite: B10.2303. 3 credits.This course focuses on policy issues of for-eign currency translation, global inflation,transnational reporting and disclosure,international accounting and auditingstandards. Financial statements of multina-tional and foreign firms are used for finan-cial statement analysis. May include casestudies, computer-based assignments, andresearch projects.

Accounting and Valuation Issues in the Entertainment, Media, andTelecommunications IndustriesB10.3355Prerequisite: B01.1306. 3 credits.This course examines accounting and valu-ation issues that are distinctive to the various

EMT industries. The first part of the coursedescribes financial economic phenomenathat are common to these industries, such asthe nature and importance of tradeoffsbetween fixed and variable cost structures;significant contingent aspects of compensa-tion and financing contracts; and the ten-sion between accelerating and delayinginvestments given potential first moveradvantages but high uncertainty. The secondpart of the course discusses special rules thatgovern financial accounting in these indus-tries. Emphasis is placed on the limitationsof accounting numbers given the largelyintangible nature of the economic assets(e.g., subscriber bases, libraries, and brands)in these industries. The third part of thecourse is devoted to case and financialanalyses of firms in specific EMT industries.

Accounting, Tax, and LegalIssues for EntrepreneursB10.33603 credits.The course offers students an opportunity tobe exposed to the actual accounting, tax,and legal issues confronted by entrepreneurs.This is partcularly useful for students whointend to start their own business and thosewho either wish to be part of the manage-ment of entrepreneurial businesses or whointend to incubate new businesses within thestructure of major corporations. Providespractical business tools to start, develop, andmaintain new entrepreneurially managedbusinesses and to understand the psychologyand sound financial business practices of theentrepreneurial world in order to be a suc-cessful entrepreneur.

Entertainment LawB95.21201.5 credits.Focuses on the entertainment aspects ofmass media. Major topics include the limitsof a free press and the balance between theright to publish and the right to privacy,torts, and other laws.

Taxation of Individuals andBusiness IncomeB95.2302Prerequisite: B01.1306. 3 credits.The purpose of this course is to develop, on a sound conceptual base, a basic under-

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standing of federal income taxation toprovide tools for a practical application tobusiness and nonbusiness situations.Includes such topics as capital asset andproperty transactions, business and personaldeductions, depreciation, depletion,accounting methods and periods, retirementplans, tax credits, and the alternative mini-mum tax system. While the emphasis is onbusiness income of individuals, the coursealso provides an introduction to the taxationof corporations and partnerships. During thefall semester, the students are required toenter the annual tax tournament scheduledfor late November. Students in the springsemester are required to complete a grouptake-home project similar to the tax tourna-ment case study.

Strategic Business Planning and TaxesB95.2305Prerequisite: B01.1306. 3 credits.The objective of this interdisciplinary courseis to consider the tax environment, institu-tional constraints, legal procedures, and theorganizational structure in arriving at opti-mal business decisions. Modern economictheory of tax planning is used to analyzedecision making, explain institutionalarrangements, and predict the effects ofchanging tax environments for businesses.Concepts are applied to compensation andpension planning; employee stock owner-ship plans; multinational tax planning; cap-ital structure and dividend policy; debtfinancing to eliminate corporate level taxes;repackaging ownership rights through jointventures and partnerships; mergers andacquisitions; tax-free reorganizations and

divestitures; and preservation of tax attrib-utes in reorganizations. Classroom discus-sions include problems and case studies.

Business Law for ManagersB95.23143 credits. Fall and spring terms.Focus is on elements of business law that areessential for basic management of businessoperations. Topics include the law of con-tracts, sales, partnerships, corporations,securities, and accountants’ legal liability.Cases are included in the course.

Taxation of Mergers,Acquisitions, and RelatedMattersB95.3336Prerequisite: B01.1306. 3 credits.A study of the income tax rules relating to theformation and operation of business corpo-rations. Includes such topics as the organ-ization of the corporation, redemptions,liquidations, reorganizations, divisions,multiple corporations, corporate tax attrib-utes and carryovers, state income taxation,and U.S. taxation of foreign source income.The emphasis is, however, on the tax aspectsof mergers and acquisitions. Classroom dis-cussions include problems and case studies.Students are assigned a group project requir-ing the solution of a case study in the area ofcorporate reorganizations and divisions.

Tax Aspects of InternationalBusinessB95.3343Prerequisite: B01.1306. 3 credits.Considers the determination and adminis-tration of U.S. income tax liabilities resulting

from international transactions. Exploresthe significant U.S. tax considerations thatconfront foreign business participating inthe U.S. economy and U.S. business derivingincome abroad. The objective is to give stu-dents tools necessary to identify and resolvethe pitfalls and opportunities of cross-borderactivities. Classroom discussions includeproblems and case studies. Students areassigned a group project requiring the solu-tion of a case study in the area of interna-tional taxation.

Doctoral Courses

Seminar on Accounting ThoughtB10.41101.5 credits.Examines social science methodology andcontemporary accounting theory to providea framework for analyzing the evolution ofaccounting thought. Examines works ofclassic theorists (Sprague, Hatfield, Paton,Canning, and Vatter) and isolates pivotalconcepts in theory development. Examinesissues of current interest in a historicalperspective.

Doctoral Seminar in AccountingB10.41111.5 credits.An in-depth doctoral course examining oneor two areas of current accounting research.Content may vary from year to year.

Theory and Research inManagerial AccountingB10.43023 credits.An in-depth course dealing with currentresearch topics in managerial accounting.

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Economics

eventy years ago, John Maynard Keynes put it succinctly: “The ideas of economists . . . aremore powerful than is commonly understood.

Indeed the world is ruled by little else.”The Department of Economics at the Stern School

stresses the development of tools, concepts, andtechniques useful in problem solving and is thusuniquely suited to serve the needs of the business andfinancial communities.

Economics is the cornerstone of any academic pro-gram in business. Economic theory provides the foun-dation for virtually every discipline in the businessschool curriculum. Without a theoretical framework,problem solving is only an ad hoc procedure.

The Stern School’s economics faculty is composed of specialists and generalists who cover a wide range ofeconomic thought and applications.

Economics can be divided into two broad areas: microeconomics and macroeconomics. Microeconomicsfocuses on the theory and activities of individual consumers and businesses. It studies market structures, pric-ing policies, business strategies, and, generally, optimal decision making by economic agents. Macroeconomicsis concerned with aggregate economic activity and its determinants. It studies inflation, unemployment, andoutput and how monetary and fiscal policy affect all of them.

Studying economics provides an invaluable perspective to anyone choosing a career in business or in areasof government involved with business.

S

Chairman: William H. Greene

Professors: David Backus, ThomasCooley, George Daly, Daniel Diamond,Nicholas Economides, William H. Greene,John Guilfoil, Barbara G. Katz, RobertKavesh, Rita Maldonado-Bear, ThomasPugel, Roy Radner, Rama Ramachandran,

Ryuzo Sato, William Silber, George Smith,Marti Subrahmanyam, Richard Sylla, PaulWachtel, Ingo Walter, Lawrence White

Associate Professor: Nouriel Roubini

Assistant Professors: Alessandra Fogli,Fabrizio Perr i , Vincenzo Quadrini

Adjunct Faculty: Joseph Dziwura, SethFreeman, David Friedman, MichaelNiemira, James Orr, Bruce Skoorka, EdwardSteinberg, Michael Tindall

Department Office: KMC, 44 West FourthStreet, 7th Floor

Courses in Economics

CORE COURSES

Understanding Firms andMarketsB01.13033 credits.An issues-oriented approach is added to thetraditional perspective of microeconomics in

this course. This enhances students’ under-standing of the business environments inwhich they will work and the importantstrategic issues (including pricing and prod-uct choice) that will arise. Strategy is a recur-ring theme.

Global Business EnvironmentB01.23033 credits.What are the key elements of open economymacroeconomics and international tradeand policy? This course introduces the toolsand frameworks needed to analyze the major

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features of the global business environment,and examines key opportunities and chal-lenges facing a firm in contemporarybusiness. An exploration of internationalmacroeconomic policy and an examinationof the sources of growth, exchange ratedetermination, currency crises, and relatedissues are also incorporated.

COURSES PRIMARILY FORMASTER’S DEGREE CANDIDATES

Entrepreneurial Leadership:Patterns and ProcessesB30.23053 credits.Entrepreneurship is the introduction of sig-nificant change into economic life. Thiscourse examines the manifold aspects ofentrepreneurship and its impacts on eco-nomic development, primarily through theclose examination of biographies of rep-resentative “actors,” to illuminate ourunderstanding of some basic economic andhistorical theories about entrepreneurship.Addresses such questions as the following:What is the relationship between entrepre-neurial undertakings, on the one hand, andculture and institutions, on the other? Howcan society and its organizations enhanceentrepreneurship? Are there typical problemsthat every entrepreneur must confront andsolve to be successful? Can we discern com-mon personality traits or behavioral attri-butes among the various entrepreneurs in our study?

Economic Regulation andGlobal IntegrationB30.2315Prerequisite: B01.2303. 3 credits.Several areas in the globe are undergoing aprocess of economic integration involvingthe creation of free-trade areas, customunions, and currency unions. This processhas crucial implications not only for themacro performance of the global andnational economies, but also for businessesworking within this dynamic environment.The goal of the course is to examine the fac-tors that motivate the process of economicand monetary integration, with specialattention devoted to the study of integrationwithin particular regions, namely Europe,North America, and Asia. The courseexplores the benefits of trade and monetaryintegration and analyzes the conditions thatneed to be satisfied for countries to enjoy

these benefits. In order to verify whetherthese conditions are satisfied, students studythe productive and competitive structure ofthese economies and analyze how this struc-ture is likely to evolve as a consequence ofglobal and regional integration. Specialattention is given to the analysis of theopportunities and/or challenges that a largeunified market creates for entrepreneurialinitiatives and more generally for firms thatdirectly or indirectly operate in these mar-kets. Regulation issues raised by the processof economic integration and the need of pol-icy coordination are also studied. Anotherobjective of the course is to examine how theeconomic and monetary integration of aparticular area affects business relations withthe United States. In this part of the course,special attention is paid to the way in whichthe creation of large integrated marketsaffects the strategies of nonmember firms togain access to these markets.

Monetary Policy, Banks, andCentral Banks B30.2333 The structure of the financial system and therole of central banks are often in the news asvarious countries cope with banking crises orchronic inflation. This course examines thestructure of financial systems from both per-spectives. Emphasis is given to topics that arerelevant in current policy making, such asdollarization, the European MonetaryUnion, deflation in Japan, and inflation tar-geting. Central bank structures such as theFederal Reserve and the European CentralBank are studied and frameworks for under-standing the tools of policy are developed.The conduct of monetary policy and itseffects on the macroeconomy are examined.The causes of financial crises are also exam-ined, with emphasis on policies designed toprevent them, such as the new capital ade-quacy regulations, deposit insurance, andthe lender of last resort function of centralbanks. Students are asked to suggest topicsand to report on specific events and issues.

Economic and Business Historyof the United StatesB30.2336Prerequisites: B01.1303 and B01.2303. 3 credits.This course examines the historical develop-ment of American enterprise since the begin-nings of the industrial revolution. Its focus is

mainly on the entrepreneurial forces thatshaped the rise and evolution of the moderneconomy and business system. Takes intoaccount business strategy and structure,finance, management, labor organization,technology, transportation, communi-cations, and public policy. Discusses thebroader economic, cultural, and politicalconstraints within which American enter-prise has been shaped. The goal is to imparta long-term perspective from which contem-porary business can be understood and tointroduce students to historical ways ofthinking about economic development.

Comparative Analysis of theJapanese and U.S. EconomiesB30.2337Prerequisites: B01.1303 and B01.2303. 3 credits.Examines the Japanese economy as anapplication of modern macro- and micro-economics. Provides a comparative analysisof the Japanese economy, in particular, withthe U.S. economy. Topics include historicalperspective and modernization, postwar eco-nomic growth and technical change, indus-trial structure, public finance and tax sys-tem, financial liberalization, political econo-my of trade friction, exchange rate, andJapanese management style.

Global Perspectives on theHistory of EnterpriseB30.23383 credits.This course compares the rise and evolutionof modern corporate enterprise acrossnations. Considers the social and economiccontexts for and the patterns of creation,growth, and change in industrial organiza-tion from the “first industrial revolution” tothe present day. Discusses how and why dif-ferent societies have achieved competitiveadvantages in domestic markets and globaltrade at different times. Examines the effectsof culture, technology, finance, and govern-ment on the economies of England, Ger-many, Japan, the United States, and the EastAsian “tigers,” as well as newly developingand lagging economies around the world.

Current Economic andFinancial Problems: Rhetoric,Reality, and RemediesB30.23423 credits.

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Provides an overview of a broad range ofissues and problems confronting the busi-ness and financial communities. Topicsinclude the outlook for the world economy;interest rates and stock prices; the balanceof payments problem; the changing struc-ture of the money and capital markets; theissue of inflation/deflation; governmentalregulation and deregulation; and the cur-rent fiscal and monetary scene. Problemsare approached on both domestic andinternational bases. The goal is to providea sense of perspective and interdependencein dealing with forces and factors thatinfluence decision makers.

TelecommunicationsEconomics and DigitalConvergenceB30.23453 credits.This course analyzes the economics oftelecommunications and related services,including cable television. We study the evo-lution of the telecommunications industry,paying special attention to the crucialantitrust intervention that resulted in the1984 breakup of AT&T and to the reformattempted by the Telecommunications Act of1996. We study in-depth the economics ofmonopoly and oligopoly as applied to net-work industries, and, in particular, totelecommunications markets. We apply thisknowledge to the analysis of traditionaltelecommunications markets, including longdistance, local, and international; “new”telecommunications markets, including cel-lular and PCS; and “emerging” telecommu-nications and electronic commerce marketsbased on the Internet. We analyze the currentwave of mergers and consolidation in theindustry from the perspective of “digital con-vergence” and predict the framework anddirection of industry change.

Economic and FinancialForecastingB30.2361Prerequisites: B01.1303 and B01.2303. 3 credits.This is an application-oriented course blend-ing economic reasoning and judgment withstatistical methods. After an initial discus-sion of “background tools,” the courseexplores some formal forecasting methods,time-series forecasting methods, and econo-

metric methods. Since forecasting involvesboth art and science, a key objective of thiscourse is to provide some guidelines as towhich forecasting technique may be bestsuited for the process under study. Variousforecasting techniques are discussed alongwith numerous forecasting examples.Examples come from the real estate markets,the stock market, the bond market, foreignexchange rates, and the real side of the econ-omy. Students, in teams, have hands-onexperience analyzing data and making andpresenting a forecast.

Strategic Use of Incentives andInformation: An ExperimentalApproachB30.23643 credits.Modern corporations face a number ofproblems, including motivating employeesto work productively, motivating profitcenters to cooperate, and matching workerswith appropriate jobs. Recent research on these problems uses a combination ofexperimental and theoretical techniques.This course introduces the concepts ofincentives, information, and strategy, withapplications to double auctions and relatedmarkets, matching of workers to jobs, indi-vidual and group compensation schemes,bargaining, transfer pricing, cost allocation,and fair division. Students participate assubjects in a series of laboratory experi-ments designed to enhance the learningprocess, and examine related theories,applications, and published experimentalresearch. Grades are based on analyses of in-class experiments and a final examina-tion. Enrollment is limited to 36 students.

Information in the MarketplaceB30.2368Prerequisite: B01.1303. 3 credits.Discusses the role of information in businessdecisions and the marketplace. Focuses onthree major areas: (1) information as intel-lectual property; patent, copyright, andtrademark law; research and developmentand its relationship to U.S. industrial pro-ductivity; (2) the role of information ingame theory and strategic interactions; (3)problems of incomplete (asymmetric) infor-mation, its effect on the marketplace, andthe types of responses by firms and individu-als that arise in the marketplace.

International MacroeconomicPolicy: Theory and Evidencefrom Recent Financial Crises B30.2380Prerequisite: B01.2303. 3 credits.This course is an introduction to interna-tional macroeconomics, and a review andanalysis of current international macroeco-nomic and financial issues, policies, andevents, including interest rates, exchangerates, and asset prices in the global economy;causes and consequences of trade deficitsand external imbalances; the Asian and theglobal financial crisis of 1997-1999 and thepolicy response to it; causes of currency,banking, and financial crises; short- andlong-term effects of monetary and fiscal pol-icy; the drive to reform the internationalfinancial architecture; the debate on IMFand World Bank reform; emerging marketsexternal debt and attempts to restructure it(the “bail-in/burden sharing” debate); andthe globalization of financial markets. Thesetopics are integrated into a theoreticalframework that stresses international factorsfrom the start. Examples from the UnitedStates, Europe, Japan, and emerging marketeconomies are used to enhance knowledge ofthe world economy.

Post-Soviet Economies inTransitionB30.2383Prerequisites: B01.1303 and B01.2303. 3 credits.More than 10 years after the fall of the BerlinWall, the economies in transition report var-ied experiences. Generally, the EasternEuropean countries are faring better thanRussia and the other successor states to theformer Soviet Union. With few exceptions,however, the performances of these countriesare problematic and sometimes poor. Whyhas it proven so difficult for these formercommunist countries to replace their failedcentrally planned economies with marketeconomies? In large measure, the answerscan be traced to aspects of the discreditedcentrally planned mechanism and the eco-nomic environment it engendered. Initially,it was anticipated that if the old system weredismantled and capitalism given a chance tobegin, that capitalism would flourish, thusaccomplishing the transition. Due to the per-sistence of the deep distortions created bycentral planning in the communist environ-

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ment, however, this has not proven to beenough. While ownership may no longer bein the hands of the state, effective marketeconomies have rarely been forged. Incomelevels have fallen, income inequality hasrisen, many transitions take place outsidethe normal economic channels, and there issubstantial capital flight. In many casescrony capitalism has been the outcome. Thiscourse provides a framework for understand-ing the process of transition by furnishing abasic knowledge of both Soviet economichistory and the administrative-commandmechanism identified with Soviet centralplanning. Against this background, the eco-nomics of transition are explored. Particularattention is devoted to the following issues:the appropriate speed of transition, privatiza-tion, restructuring, corporate governance,banking and financial markets, and growthand macroeconomic stability.

International Competition andthe Multinational EnterpriseB30.2385Prerequisites: B01.1303 and B01.2303. 3 credits.This course addresses several questionsinvolving a firm’s international activities. Itbegins by examining aspects of the interna-tional economic environment of a firm.First, building on the international conceptsdeveloped in the core courses, the courseexamines trade policy in both perfectly com-petitive and imperfectly competitive indus-tries. Next, it examines recent changes in theinternational competitive environment withan emphasis on regional commercial inte-gration; the operations of fixed exchangerate systems, such as the European MonetarySystem; and the impacts of internationalborrowing and lending. The course thentakes an in-depth look at multinationalenterprises, examining the economic forcesthat give rise to multinationals and theimpact of multinational enterprises oninternational trade, product, and factormarkets and on the economies of the homeand host countries.

The Social Setting of BusinessB30.23893 credits. Not open to students who havealready taken B30.2342.Deals with the relevance of major economic,historic, political, social, and cultural factorsto the problems of the American businesscommunity. Analyzes rival philosophies of

economics—“liberalism” and “conser-vatism.” Traces major forces and trends inthe formulation of policy in an environmentof power blocs and pressure groups.

Financial HistoryB30.2392Prerequisites: B01.1303 and B01.2303. 3 credits.Study of the historical development of finan-cial institutions and markets. Covers mone-tary, banking, central banking, and capitalmarket history. Topics include the compo-sition, growth, and fluctuations of money;evolution of banking systems and their regu-lation; development and rationale of centralbanking; and major trends and fluctuationsin stock, bond, and money markets.Attention is given to international influencesand comparisons, as well as to majorinstances of financial instability.

Economic Regulation andManagerial Decision MakingB30.3313Prerequisite: B01.1303. 3 credits.Explores the economics of regulation, law,and public policy and their applications tobusiness activity. The economic principlesunderlying regulation and other laws affect-ing businesses are discussed. Analysis of theapplications of regulation, governing bothits intended and unintended effects, and itslegal and institutional framework, areexplored. Emphasis is placed on developingpractical understanding for business deci-sion making.

COURSES PRIMARILY FORPH.D. CANDIDATES

Advanced MicroeconomicTheory (Microeconomics II)B30.3312Prerequisite: B30.3334 or the equivalent.3 credits.As a sequel to Microeconomics I, this coursecovers the basics of game theory and oligop-oly theory. The main focus of this course ison strategic interactions, where few agentshave to take into account the effect of theiractions on others. We discuss simultaneousand sequential games in extensive and nor-mal forms and apply noncooperative andcooperative equilibrium concepts. We thengo to applications in the choice of price, vari-ety, and quality in oligopoly and monopolis-tic competition; strategic coordination, col-

lusion, and creation and stability of cartels;first mover’s advantage and disadvantage;nonlinear pricing; economics of networks,including financial statement; and innova-tion. We also discuss existence and optimal-ity of general equilibrium in a perfectly com-petitive economy.

Macroeconomic Analysis(Macroeconomics I)B30.33253 credits. Ph.D. core course. Fall.A course in dynamic macroeconomic theorywith emphasis on the connections betweentheory and aggregate time series data.Includes a development of the tools ofdynamic, stochastic analysis; a review of evi-dence on business cycles and asset prices;and a description of current research strate-gies for explaining aggregate phenomena.

Advanced Topics inMacroeconomics(Macroeconomics II)B30.3332Prerequisite: B30.3325 or the equivalent. 3 credits.Topics in recent years have included searchtheory, multiple equilibria, dynamic tax pol-icy, unit roots and other interactions betweenmacroeconomics and econometric timeseries methods, and endogenous growth. Theemphasis is on understanding and criticallyevaluating recent work in macroeconomics,broadly defined, and in producing a piece oforiginal research.

Microeconomic Decisions(Microeconomics I)B30.33343 credits. Ph.D. core course. Fall.A course covering the foundations of micro-economics. It presents standard consumer’sand firm’s theory and extends the analysis toallow for uncertainty. It also introduces gen-eral equilibrium theory, information eco-nomics, and game theory. Lectures rely onconstrained optimization and comparativestatic techniques throughout.

Microeconomics: Theory andApplicationsB30.33353 credits. Ph.D. core course. Fall.For doctoral students whose programs do not include advanced courses in economics.Emphasizes concepts and techniques of eco-

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nomic analysis that are likely to be useful inthe students’ doctoral dissertation research.Develops key concepts and techniques ofmicroeconomics and then applies them to a number of current research issues inaccounting, information systems, manage-ment, and marketing (and possibly otherareas, depending on the students enrolled).In each case, the course explores the relevantmicroeconomic theory and some of theempirical literature. This course is an alter-native to B30.3334 as the core requirementin microeconomics.

Economic Growth andTechnical ChangeB30.3340Prerequisite: B30.3334 or the equivalent.3 credits.The course discusses the trends in economicgrowth and the factors that influence them.Descriptive and optimal models are consid-ered after a discussion of the appropriateanalytical techniques. Consideration ofempirical studies that indicate the impor-tance of technical change in determiningthe growth rate leads to a discussion ofmicroeconomic and growth theoreticalmodels of technical change. Specific topicsinclude techniques for estimation of produc-tion functions and technical change; opti-mal control methods and their applicationin growth theory; group theoretic methods ineconomics dynamics; innovation and publicpolicy; and international trade and R&D.

Econometrics IB30.3351Prerequisites: Ph.D. core courses in statis-tics and operations research or the equiv-alents. 3 credits.The theory of estimation and inference in

econometrics. Covers finite sample resultsfor the classical linear model, as well asasymptotic results for single equation mod-els. Topics include linear and nonlinearleast squares, generalized least squares,panel data, instrumental variable tech-niques, and generalized method of momentestimation. Heavy emphasis is given toempirical applications.

Theory of International TradeB30.3384Prerequisite: B30.3334 or the equivalent. 3 credits.A survey of the economic analysis of thedeterminants and effects of internationaltrade and government policies toward trade. Develops both the Ricardian andHeckscher-Ohlin theories of trade, as well as theories of intraindustry trade. Discussesother theories and empirical tests of thedeterminants of the trade patterns. Presentsanalysis of the effects of tariffs, quotas, andother government policies toward trade, aswell as analysis of distortions arising frommarket failures.

International MacroeconomicsB30.3386Prerequisite: B30.3325 or the equivalent. 3 credits.This course provides a broad overview ofmodern international macroeconomics and finance examining intertemporal ap-proaches to the determination of the currentaccount and foreign debt accumulation;theoretical models and empirical evidenceon the determinants of nominal and realexchange rates under flexible and stickyprices; asset pricing and portfolio choice inopen economies; empirical evidence on theefficiency of the foreign exchange market;

international business cycles; models of fixedexchange rates, target zones, and speculativeattacks on fixed exchange rate regimes; therole of open economy factors in macroeco-nomic stabilization; and the optimal cur-rency area and policy coordination debate.

Dissertation Seminar(Economics)B30.9900Open only to doctoral students ready towrite a dissertation in economics. 9 cred-its per semester.Individual meetings with the dissertationadviser and members of the tentative readingcommittee on the dissertation.

Managerial and OrganizationalCognitionB55.3380An interarea course in management,information systems, and economics. 3 credits.The rapid progress of information tech-nology has had tremendous impact onorganizations. Data, analyses, and forecaststhat required substantial efforts a decade ago are now at the fingertips of managers.How do these developments affect manager-ial cognition and decision making? What is the role of managerial cognition in thefiltering, interpretation, and sharing of such vast amounts of information? How canfirms transform the vast amounts of infor-mation into knowledge? How can suchknowledge be used for organizational inno-vation and change?

An interdepartmental student-facultyworkshop open to doctoral students and toadvanced M.B.A. students with the consent ofthe instructors. Participants are expected toattend the workshop regularly.

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Entrepreneurship and Innovation: A Multidisciplinary Program

he Entrepreneurship and Innovation areaat the Stern School is an interdisciplinaryacademic unit that focuses on new enter-

prise development and entrepreneurial initiatives in ongoing businesses. The Entrepreneurship andInnovation area brings together faculty with interestand expertise in the entrepreneurial components oforganizational behavior, strategy, finance, marketing,accounting, economics, operations management, andinformation systems. These faculty members arerecognized internationally for their research andteaching accomplishments and their ties to the business community.

Entrepreneurial processes involve the discovery andfulfillment of opportunity. In addition to boldness, imagination, resourcefulness, and constant learning,successful entrepreneurship requires the acquisition of the knowledge and skills that are needed to move an idea to a commercial reality.

Stern’s M.B.A. program concentration in Entrepreneurship and Innovation offers a broad menu of courses for the Stern student who wishes to develop an understanding of the entrepreneurial process and theknowledge and skills that are required to be a successful entrepreneur, an entrepreneurial manager, or aninvestor in entrepreneurial ventures. Specific courses develop topics ranging from financing of new venturesto managing growth in embryonic firms, to stimulating innovation in mature organizations.

In addition to a broad portfolio of courses and outstanding faculty, entrepreneurial education at Stern is enhanced by cocurricular activities that are offered through the Berkley Center for Entrepreneurial Studies(see pages 91-92). These activities provide students with the opportunity to interact with, and learn from, entre-preneurs, service providers (including venture capitalists, accountants, lawyers, and bankers), and faculty in highly interactive events.

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Area Chairman: Ari Ginsberg

Professors: Yakov Amihud, Ari Ginsberg,Seymour Jones, Kose John, Joshua Livnat,Robert Shoemaker, George Smith, RoySmith, Richard Sylla, Lawrence White

Associate Professors: Fernando Alvarez,Kim Corfman, Michael Darling, RaghuGarud, Al Lieberman, Eli Ofek

Assistant Professors: Michelle Gittelman,Gregory Janicik, Michael Lenox, Alexander

Ljungqvist, Melissa Schilling, Chris Tucci,Batia Wiesenfeld

Adjunct Faculty: Scott Perlin, KennethPreston, Irwin Tantleff

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Accounting, Tax, and LegalIssues for EntrepreneursB10.33603 credits.The course offers students an opportunity tobe exposed to the actual accounting, tax,and legal issues confronted by entrepreneurs.This is particularly useful for students whointend to start their own business and thosewho either wish to be part of the manage-ment of entrepreneurial businesses or whointend to incubate new businesses within thestructure of major corporations. Providespractical business tools to start, develop, andmaintain new entrepreneurially managedbusinesses and to understand the psychologyand sound financial business practices of theentrepreneurial world in order to be a suc-cessful entrepreneur.

Entrepreneurial Leadership:Patterns and ProcessesB30.23053 credits.Entrepreneurship is the introduction of sig-nificant change into economic life. Thiscourse examines the manifold aspects ofentrepreneurship and its impacts on eco-nomic development, primarily through theclose examination of biographies of repre-sentative “actors,” to illuminate our under-standing of some basic economic and histor-ical theories about entrepreneurship. Amongthe questions this course addresses are thefollowing: What is the relationship betweenentrepreneurial undertakings on the onehand, and culture and institutions on theother? How can society and its organizationsenhance entrepreneurship? Are there typicalproblems that every entrepreneur must con-front and solve to be successful? Can we dis-

cern common personality traits or behav-ioral attributes among the various entrepre-neurs in our study?

Economic and Business Historyof the United StatesB30.2336Prerequisites: B01.1303 and B01.2303.3 credits.This course examines the historical develop-ment of American enterprise since the begin-nings of the industrial revolution. Focusingon the entrepreneurial forces that shaped therise and evolution of the modern economyand business system, the course takes intoaccount business strategy and structure,finance, management, labor organization,technology, transportation, communica-tions, and public policy. Interlacing thecourse is a fundamental examination of thebroader economic, cultural, and politicalconstraints within which American enter-prise has been shaped. The goals of thecourse are to impart a long-term perspectivefrom which contemporary business can beunderstood and to introduce students to his-torical ways of thinking about economicdevelopment.

Global Perspectives on theHistory of EnterpriseB30.23383 credits.This course compares the rise and evolutionof modern corporate enterprise acrossnations. It considers the social and economiccontexts for and the patterns of creation,growth, and change in industrial organiza-tion from the “first industrial revolution” tothe present day. A major goal of the course isto help students understand how and why

different societies have achieved competitiveadvantages in domestic markets and globaltrade at different times. To that end, thecourse examines the effects of culture, tech-nology, finance, and government on theeconomies of England, Germany, Japan, theUnited States, and the East Asian “tigers,” aswell as newly developing and laggingeconomies around the world.

TelecommunicationsEconomics and DigitalConvergenceB30.23453 credits.This course analyzes the economics oftelecommunications and related services,including cable television and the evolutionof the telecommunications industry. Specialattention is paid to the crucial antitrustintervention that resulted in the 1984breakup of AT&T; to the reform attempted bythe Telecommunications Act of 1996; and tothe economics of monopoly and oligopoly asapplied to network industries, and, in partic-ular, to telecommunications markets. Thecourse also reviews the current wave ofmergers and consolidations in the industryfrom the perspective of “digital conver-gence” and covers the framework and direc-tion of industry change.

Venture Capital FinancingB40.3173Prerequisite: B01.2311. 1.5 credits. Fall and spring.This course provides institutional back-ground and detail necessary to deal with theventure capital and new issues markets.Examines basic valuation issues, appropri-ate capital structure, the value of liquidity,

Entrepreneurship Courses

The Entrepreneurship and Innovation areaoffers an M.B.A. comajor with the Depart-ments of Accounting, Economics, Finance,Information Systems, Operations Manage-ment, Management, and Marketing. Stu-dents completing comajor requirements arealso eligible for the Harold Price Award,given at Pre-Commencement.

Students taking the proposed entrepre-neurship and innovation comajor must ful-fill all the requirements for a major in one ofthe basic functional fields (finance, man-agement, marketing, etc.), including entre-preneurship courses in that field; they also

take prescribed entrepreneurship courses inother fields as electives. All comajors musttake the entrepreneurship core course, whichanalyzes the entrepreneurial process and keyissues faced by entrepreneurs who start andgrow new businesses.

The comajor contains two components:

• The entrepreneurship and innovationcore course—Foundations ofEntrepreneurship, B65.3335

• Electives oriented to entrepreneurship andinnovation

For the M.B.A. degree with a comajor inentrepreneurship, three courses (9 credits)are required in addition to the core course.These courses can be taken in major or elec-tive areas. The total requirement is fourcourses (12 credits), including the entrepre-neurship core course. Students interested intaking an introductory course in entrepre-neurship should take the Foundations ofEntrepreneurship course. Students wishingto focus their M.B.A. program around entre-preneurship and innovation can take a port-folio of courses that are listed under theirrespective departments and cross-listed here.

Requirements for the M.B.A. Degree with a Comajor in Entrepreneurship

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and the value of control. Also considers theintangible aspects of entrepreneurship andventure capital forms of financing.

FinDotComB40.3342Prerequisite: B01.2311. 3 credits. Fall.This course integrates both an academic anda practitioner view of financial analysis fornew economy companies. Lectures alternatebetween two major topics: (a) corporatefinance for the new economy and (b) theInternet company from idea through IPO.Among the corporate-finance-related topicsdiscussed in the course are valuation of neweconomy businesses, with a comparison to“old economy” valuations; the financing ofthe new economy; IPO strategies for dotcomfirms; and the role mergers and acquisitionsshould play in the new economy. Faculty lec-tures are coupled with lectures by outsidespeakers who are leaders in new economyand Internet businesses.

Entrepreneurial FinanceB40.3361Prerequisite: B01.2311. 3 credits. Fall.This course identifies and follows the“wealth creation cycle” that begins withcompany start-ups and passes through suc-cessive stages of private equity financing and“harvesting” through a merger or sale, or anIPO. Emphasis is placed on how entre-preneurial firms adapt financing and finan-cial contracts to the information asymmetryproblems, the high degree of uncertainty,and the conflicts of interest associated with start-ups.

New Venture FinancingB40.3373Prerequisite: B01.2311. 3 credits.Not open to students who have takenB40.3361.This course focuses on financing entrepre-neurial companies, especially start-up andearly-stage ventures. The overall aim of thecourse is to understand how entrepreneursand their financial backers can spot and cre-ate value. This involves learning about thetopics that trace out the venture capital cycle,such as opportunity recognition, valuationand evaluation, negotiating funding, andmanaging the investment. The courseexplores the new venture finance from anumber of different perspectives: the entre-preneur’s, the venture capitalist’s, that of theinvestors backing the VC (such as pension

funds and college endowments), and stock-market investors at the IPO. The course isnot open to students who are currently tak-ing or who have taken EntrepreneurialFinance (B40.3361). Although the twocourses cover similar ground in somelectures, New Venture Financing focusesmore heavily on start-ups and the workingsof the venture capital industry than doesEntrepreneurial Finance.

Electronic CommerceB55.33383 creditsThe Internet and the emerging “informationsuperhighway” are dramatically altering theway we transact goods and services. Thiscourse examines how new information tech-nologies and networks will affect theexchange of goods and services between buy-ers and sellers in the 21st century. How willadvertising, purchasing, customer service,and trade settlement processes change? Whatare the economics of different electroniccommerce models for these processes? Thecourse combines critical evaluation of busi-ness strategies with hands-on experience inbuilding supporting electronic commercesystems. It evaluates key corporate strategiesand initiatives in electronic commerce andthe enabling network and user interfacetechnologies that will redefine business as weknow it. These technologies include theInternet, interactive television, virtual reality,digital cash, etc. Next, using the capabilitiesof the World Wide Web infrastructure on theInternet, students learn how to develop andimplement Internet servers and applicationsfor supporting electronic commerce. Finally,the course considers the economics of elec-tronic commerce and the costs of organizingand implementing different models of elec-tronic trading.

Technological Innovation andNew Product DevelopmentB60.33563 credits.This course offers perspectives and frame-works that seek to understand technologicalinnovation and new product development atdifferent levels of analysis, including thefirm, industry, and national levels. Thecourse addresses issues pertaining to the dis-covery, development, and diffusion of tech-nological advances and innovations in bothstart-up and established firms. For example,when do established firms have an easier (or

more difficult) time bringing a new productto market and appropriating profits from it?The course also provides frameworks toassess new technological and businessopportunities. Students are expected to ana-lyze and evaluate technological opportuni-ties using the frameworks and techniquespresented in the course.

Corporate VenturingB65.21301.5 credits.Managers in large, mature corporationshave become increasingly aware of theimportant role of entrepreneurship inresponding to the competitive challenges ofa fast-changing marketplace. This process ofentrepreneurship, referred to as “corporateventuring,” is one that generates andexploits new technologies, products, or busi-nesses under the organizational umbrella ofan established firm. This course seeks to pro-vide an understanding of this process andthe knowledge and skills that are required tomanage organizations so that innovationsand new businesses are generated andgrowth is sustained. The course should be ofinterest to those who wish to work as a mem-ber of a corporate venture team, as the gen-eral manager of a corporate venture or as amember of senior management overseeingthe venture within the corporation.

Negotiation for EntrepreneursB65.21581.5 credits.Negotiation is the art and science of securingagreements between two or more interdepen-dent parties. The risk involved with startingone’s own company forces individuals todevelop skills that will be necessary to securesignificant revenue opportunities. Whenindividuals are working for themselves, thestakes of a negotiation are high. Further-more, entrepreneurs must be able to craftagreements with multiple stakeholders.Whether addressing complex issues regard-ing the rights and obligations of investors, ormerely establishing the payment terms oflegal or consulting fees, entrepreneurs relyon their own strategies to resolve the situa-tion. There are no established policies or pro-cedures to utilize as an organizational safetynet. The purpose of this course is to under-stand the theory and processes of negotiationas it is practiced in entrepreneurial settings.This course is designed to complement thetechnical and diagnostic skills learned in

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other courses at Stern. A basic premise of thiscourse is that while entrepreneurs need ana-lytic skills in order to discover optimal solu-tions to problems, they also need a broadarray of negotiation skills in order to getthese solutions accepted and implemented.

New Business PlanningPracticumB65.2326Prerequisite: B01.1302. 3 credits.This practical applications course isdesigned to facilitate the start-up process of anew venture for students who have a newbusiness concept they wish to develop as partof a team. The objective is to guide studentsby focusing on the skills needed to identifyand resolve critical issues and alternativesvital to the start-up. Utilizing milestonedeliverables, small group partnership teamsdevelop a business plan as the case study fora start-up scenario for their own businessconcept. Class sessions, meetings with theinstructor, invited guests, and readings areused to provide guidance and evaluation, aseach team’s business plan develops throughdesignated milestones. Applicants must sub-mit a one-page outline identifying: (1) con-cept feasibility, by briefly identifying the con-cept and “need” for the product/service; (2)intended positioning, including market(s)to be served and unique selling benefit orvalue; (3) perceived entry strategy; and (4)core competencies, required for competitiveadvantage. Students enrolling in this coursetypically have taken Foundations ofEntrepreneurship, are second-year, full-timestudents or part-time M.B.A. candidates whohave completed core course requirements.

Managing the GrowingCompanyB65.2327Prerequisites: all required core courses. 3credits. Fall and spring.This course exposes students to the uniquechallenges of managing the growth of smallbusinesses. It is designed for students whoare interested in understanding the opportu-nities and problems involved in the start-up,management, or operation of their ownbusiness. In addition, the course is alsodesigned for students who are consideringemployment in a smaller firm. The differ-ences between small firms and large organi-zations, management needs, practices, andfinancial resources are examined.

Family Business ManagementB65.23283 credits.The course is directed to students who willenter into the management of family busi-nesses, either their own family’s or someoneelse’s, and students who will do businesswith family firms or consult to them. Thefocus is on small and mid-size firms in the$10-$250 million annual revenue ranges.The course explores the managerial, strate-gic, and behavioral complexities found infamily-owned and -managed companies,including entrepreneurial behavior offounders and entrepreneurship require-ments of successor generations. Throughcase studies and guest speakers, we considerquestions of ownership, succession, siblingrivalry, attracting and retaining nonfamilytalent, and estate planning.

Managing ChangeB65.2353Prerequisites: all required core courses. 3 credits. Fall and spring.Contemporary business environments con-tain challenges that demand an increasingpace, volume, and complexity of organiza-tional changes. Most organizations, whetherthey are entrepreneurial start-ups or long-established Fortune 500 firms, find that theymust change or wither. This course is gearedtoward deepening students’ understandingof the challenges, the techniques, and theburdens associated with initiating andimplementing major change in an organi-zation. The objective is to prepare managers,or their consultants and advisers, to meet thechallenges of organizational change suc-cessfully. As such, the course is especially use-ful for students who plan careers in manage-ment consulting, general management(whether in line or staff positions), andentrepreneurship or corporate venturing.

Entrepreneurship forConsultantsB65.33153 credits.Entrepreneurship is a critical factor for mar-ket entry, growth, and positioning in thecompetitive world of consulting. This courseprovides an understanding of how entrepre-neurship drives the creation of economicopportunity as it applies to the spectrum ofconsulting entities. Students explore the crit-ical entrepreneurial issues faced by the rangeof firms from the elite start-ups, think tanks,

and mid-size venture consultancies to thenew fast venturing launch centers run by thelarge consulting firms in conjunction withentrepreneurial innovators and equityinvestors. Through interactive dialogue,cases, and guest speakers, the course pro-vides students with a practical real-worldview and broad knowledge of how consul-tancies, whether large or small, are creatingnew entreprenuerial business models, inno-vative strategies, alliances, intellectual capi-tal, careers, and wealth, both for themselvesand their clients in the on-going race tobring innovation to market.

Business Start-Up PracticumB65.33333 credits.This course serves to link theory with practiceby integrating entrepreneurship theories andconcepts with the realities of initiating,developing, and growing a real-world, start-up business. Students work in small teams,together with entrepreneurs and businessdevelopment experts who are at the forefrontof developing and commercializing new andinnovative technologies and products. Theexperiential learning process is shapedthrough participation in start-up and incu-bation activities and through the completionof specific assignments, including writtenreports and oral presentations. A team ofStern faculty, experienced entrepreneurs, andbusiness development experts guide, super-vise, and evaluate student learning and per-formance. Applicants must submit an essaythat summarizes their motivation for partic-ipating in a business start-up or incubationprocess and be interviewed by members ofthe business start-up or incubation team.

Foundations ofEntrepreneurshipB65.3335Prerequisite: B01.2311. 3 credits.This course offers a framework for under-standing the entrepreneurial process andexposes the student to most problems andissues faced by entrepreneurs who start newbusinesses. Case study is the principal teach-ing method, supplemented by lectures, abusiness planning exercise, and guestspeakers. Major objectives are for students to learn how to identify and evaluate marketopportunities, develop a business conceptand marketing plan, assess and obtain therequired resources, and manage the growthof the new venture. This course can count as

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a marketing elective and fulfill part of therequirements of the marketing major. It canbe counted only as a marketing elective or asa management elective, but not both.

The Business of Producing:Entrepreneurship inEntertainment and MediaB70.2116Prerequisite: B01.2310 or equivalent. 1.5 credits.The course is designed to provide studentswith a framework for understanding thedynamics of producing a finished creativeproduct in the entertainment and mediaindustries. Covers the process of feature pro-duction from the initial concept of the story,through script development to completion ofthe project. Explores all the facets of the pro-duction process including script selection,finance, budgeting, timetable development,team building, talent selection, contract andunion negotiation, regulation and tech-nology. Guest speakers include producers on independent movies, network TV, cable,syndicated TV, radio, and TV commercials.

Strategy and Entrepreneurshipin the Media and EntertainmentIndustryB70.21171.5 credits.From digital distribution to broadbandInternet access, rapid and exciting changesare driving fundamental shifts and realign-ments in the media and entertainmentindustry. These shifts are creating unparal-leled opportunities and risks for current andprospective media players. In some cases newentrants are seizing the opportunity to enternew industries and markets, while in others,established players may be better positionedto gain share. The course examines theseissues as they apply to motion pictures,television, music, and publishing. TheInternet will be addressed both as an influ-ence on traditional media sectors and as asector on its own.

Brand Planning for New and Existing ProductsB70.2365Prerequisite: B01.2310 or equivalent. 3 credits. Fall and spring.This course is designed to be of immediatepractical value to students interested inbrand management of new and existingproducts. Focuses on the application of mar-keting concepts, principles, and tools to thedevelopment of operating brand plans.Covers the collection, analysis, and interpre-tation of information required to assess mar-ket opportunity and competitive threat in aproduct category, and development of mar-keting objectives, strategies, and tacticalaction programs using that information.Particular emphasis is placed on issues of importance to new product planning,such as concept generation and screening,perceptual mapping, preference analysis,product testing and test marketing, and risk assessment.

Marketing High-Tech ProductsB70.2390Prerequisite: B01.2310 or equivalent. 3 credits.Increasingly, markets are affected bytechnology. Often, these markets are verydynamic and are characterized by uncer-tainty. These challenging environmentsrequire a new mind-set from managers. Thiscourse focuses on the decision problemsfaced by managers in creating, developing,and commercializing and managing tech-nology-based products. The objective is to provide the conceptual frameworks andanalytical tools required for managing fast-paced technology business. Uses acombination of texts, articles, lectures,discussions, and cases.

Field Studies in the New EconomyB70.33303 credits.This course offers a firsthand examination of

the new “electronic” economy by takingadvantage of Stern School’s unique locationin the middle of the Silicon Alley. Studentsparticipating in this course (1) acquire anunderstanding of the changing supplier/cus-tomer deliverables and relationships evolv-ing in the new economy; (2) identify thechanging issues faced by companies operat-ing in this environment; (3) learn how cus-tomers operating in this environment arecoping with these rapidly evolving changes;and (4) develop a framework for identifyingsuccess factors for these companies, alongwith comparisons to factors found elsewherein the economy.

Business Transactions PlanningL03.3501 (offered through the School of Law)This course is a simulation-based transac-tional seminar. It involves the organizationof a new business enterprise, following thatbusiness through its first outside financing.Students are required to engage in severalintense negotiation cycles, including plan-ning the negotiation, conducting the negoti-ation, and reflecting on the process of its out-come. In addition, students draft and revise,as necessary, the documents that result fromthe negotiations.

Colloquium on Innovation PolicyL12.3534 (offered through the School of Law)Topics for discussion are determined on asemester-by-semester basis. Examples of top-ics include the law and economics of compe-tition in the patent and copyright industries;incentive structures; innovation in develop-ing economies; the influences of nonintel-lectual property laws on innovation; andissues raised by advances in telecommunica-tions. The colloquium has two components:a seminar and a course. The seminar createsan opportunity to study the topics for presen-tation in greater depth and to write and pre-sent independent projects.

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Finance

he Department of Finance curriculumprovides an understanding of the financedecision-making process and offers insight

into how financial markets function. The departmentprovides part of the necessary education for students seek-ing finance positions in industry, in financial institu-tions, or in government or nonprofit institutions.

Courses in finance are divided into two broadcategories. One category focuses on microfi-nance issues—corporation finance andinvestments. The second category focuses onmacrofinance issues—financial marketsand the international financial system. Allfinance courses apply economic analysis,accounting, and quantitative methods to thefinancial problems encountered.

The Department of Finance faculty is thelargest and one of the most distinguishedfinance faculty groups in the world. Mem-bers of our faculty are leaders in researchand in textbook publication in their fields.

We hold as our mission the great traditionstarted by the founders of New York Uni-versity: to have a department that is recog-nized both nationally and internationally asa leader in scholarship, and to transmit thatscholarship in a professional way to studentsand those in industry with whom we work.

We have faculty members who have wonteaching awards on every continent. Some ofour faculty serve as government advisers,consultants to firms and government agen-cies, journal editors, trustees, and directors ofcorporate and nonprofit firms. Our size (andthe corresponding size and diversity of ourstudent body) permits us to offer a broaderspectrum of courses than is usually availableto students at other institutions.

Chairman: AnthonySaunders

Deputy Chairman:Michael Keenan

Professors: WilliamAllen, Edward Altman,Yakov Amihud, Menachem Brenner, StephenBrown, Aswath Damodaran, Edwin Elton,Robert Engle, Stephen Figlewski, KennethFroewiss, Martin Gruber, Joel Hasbrouck,Kose John, Robert Kavesh, Michael Keenan,Richard Levich, Rita Maldonado-Bear, FredRenwick, Matthew Richardson, AnthonySaunders, William Silber, Roy Smith, MartiSubrahmanyam, Ingo Walter

Associate Professors: Jacob Boudoukh,Jarl Kallberg, Crocker Liu, Jianping Mei, Eli Ofek, Rangarajan Sundaram, RobertWhitelaw, David Yermack

Assistant Professors: Heitor Almeida,Jennifer Carpenter, Matthew Clayton, QiangDai, Alexander Ljungqvist, Anthony Lynch,Holger Müller, Lasse Pederson, Gideon Saar, Alex Shapiro, Jessica Wachter, DanielWolfenzon, Jeffrey Wurgler

Instructors: Deepak Agrawal, SreedharBharath, Olga Filipenko, Christopher Mann,David Weinbaum

Adjunct Faculty: Jeffrey Barclay, RobertsBrokaw, Allan Brown, Sinan Cebenoyan,Thomas Dooley, David Ellner, BrianGendreau, Ian Giddy, Barry Gold, PeterGoodson, Robert Gordon, Max Holmes,Richard Levine, Lawrence Longua, ArjunMathrani, Charles McGill, Roger Mesznik,Frederick Militello, Charles Murphy, PaulNoglows, Kenneth Parkinson, Scot Perlin,Harvey Poniachek, Avri Ravid, ArthurRosenbloom, Gerald Rosenfeld, NancyRosenfeld, Martin Siegel, Tad Smith,William Sonnenreich, Robert Stovall, Frank Sullivan, Kishore Tandon, AshokVora, Jacob Worenklein, Arthur Zeikel,Lawrence Zicklin

Department Office: KMC, 44 West FourthStreet, Suite 9-190Web site for new courses, seminar schedules, and other information:www.stern.nyu.edu/fin

The Finance Core Course

The Department of Finance core course forM.B.A. students is Foundations of Finance.This course provides the necessary theo-retical foundation for most of the othercourses in finance and introduces students to the broad spectrum of financial markets

and instruments that are the tools formodern financial management. Founda-tions of Finance is a prerequisite for all otherfinance courses.

Foundations of FinanceB01.2311Prerequisites: B01.1306, B01.1303, and B01.1305. Note that B01.2311 is aprerequisite for other finance courses. 3 credits. Fall and spring.

T

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This is a rigorous quantitative course intro-ducing the fundamental principles of assetvaluation within the framework of modernportfolio theory. The key analytical concepts

are present value, option value, risk/diversi-fication, and arbitrage. These tools are usedto value stocks, bonds, options, and otherderivatives, with applications to the structure

of financial markets, portfolio selection, andrisk management.

Nonmajors in Finance

Those students who are not finance majors,or who are undecided about their major,may want to consider the following coursesas electives that develop some of the keyissues of the core course without becomingtoo specialized: Corporate Finance,B40.2302—this course (which is alsostrongly recommended for finance majors)introduces students to most of the major

issues in corporate financial management;Equity Instruments and Markets,B40.3331—a traditional course in equityanalysis and selection useful for both profes-sionals and individuals in personal portfoliomanagement; International FinancialManagement, B40.3388—a course thatdevelops the key concepts associated withinternational financial decisions. There are

also several professional half-course electivesoffered each semester by distinguishedadjunct faculty that may be of interest.Since the courses vary depending on theavailability of these adjunct professionals,check the registration packets for eachsemester’s offerings.

Majors in Finance

Finance majors must take four financecourses (12 credits) beyond the core course.Students may elect to take fifth and sixthcourses in finance if they so desire. Majorsmay select their four courses from the port-folio of Department of Finance coursesoffered each semester.

Although it is not a requirement, westrongly urge all finance majors to takeCorporate Finance, B40.2302. It is a neces-sary course for many types of work in finance,and we believe that it is one of the best corpo-rate finance courses currently being offeredin business schools around the country.

For students seeking advice on how toselect their major courses, we offer the fol-lowing suggestions. First, remember that youare in an M.B.A. program and not a special-ized degree program in finance. Thinkbroadly and consider courses where you willnot be receiving parallel training in yourfirm’s own educational programs over thenext five years. Second, note that we havetried to organize the courses below accordingto four general themes: (1) corporatefinance courses, (2) financial instrumentsand markets courses, (3) internationalfinance courses, and (4) advanced theory

and Ph.D. finance courses. For a broaderperspective, sample from among some of thegroups; for a more focused set of courses,consider selecting within a group.

Students with a strong interest in highlyquantitative, financial-engineering-typefinance electives, should consult with theDepartment of Finance “Q” course adviser.That faculty person can help you select the most appropriate electives from amongcurrent M.B.A. and Ph.D. offerings at Stern or at the Courant Institute ofMathematical Sciences.

Outside Electives for M.B.A. Finance Majors

With respect to electives for finance majorsoutside the Department of Finance, it wouldbe useful to remember that the fields mostclosely related to finance, and on whichfinance draws for its methods and tech-niques, are economics and quantitativeanalysis. For its “applications,” financedraws on accounting, information systems,marketing, and corporate strategy frames ofreference. Below, we list some current outsideelectives that have more than normalfinance content. But as managers, you maywant to consider the full range of the school’selectives available to you. The good news isthat education does not stop with this partic-ular degree. You will have the opportunity totake many of these courses in future yearsand future programs as your career evolves.

We have placed in this section a list ofsome of the current other department elec-

tives that have more than normal financecontent. Some finance major students maywant to consider these courses when select-ing nonmajor electives.

Economic and FinancialForecastingB30.2361

Financial HistoryB30.2392

Financial Information SystemsB20.3350

An Integrated Approach toFinancial Statement AnalysisB10.2303

International FinancialStatement AnalysisB10.3335

Current Economic andFinancial Problems: Analyses,Philosophies, and ForecastsB30.2342

Applied Stochastic Processes forFinancial ModelsB90.2308

Management Communication(with an emphasis in Finance)B45.2300

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In each group, full-semester 3-credit coursesare listed first, followed by half-semester 1.5-credit courses.

CORPORATE FINANCE

Corporate FinanceB40.2302Prerequisite: B01.2311. 3 credits. Falland spring.This course presents the theory and practiceof corporate finance. Topics include conceptsof corporate valuation; financial statementanalysis and forecasting; the evaluation ofcapital investments under differing assump-tions about risks and the state of the world;the financing choice for capital projects; theeffects of debt, equity, and derivative finan-cial instruments on the value of the firm;dividend policy and other stakeholder formsof payment; corporate restructuring, bank-ruptcy, and merger; issues in corporate con-trol and compensation.

Restructuring Firms andIndustriesB40.2304Prerequisite: B01.2311. 3 credits. Falland spring.This course presents a comprehensive analy-sis of asset and liability restructuring. Topicsinclude industrial organization economics;mergers and acquisitions; divestitures; cor-porate recapitalization; bankruptcy andreorganization in and out of court workouts;legal, political, and tax impacts on indus-tries; multinational competition. Agencytheory issues and corporate governance arealso considered.

Investment BankingB40.2334Prerequisite: B01.2311. 3 credits. Falland spring.A broad overview of the role of investmentbanking in modern societies. What functionsare performed; how are these tasks carriedout in competitive and noncompetitive envi-ronments. Concepts such as origination,syndication, distribution of security issues.Pricing of new issues and the managementof issues in the after markets. The role ofinvestment bankers in restructuring indus-try, financing governments, and facilitatingsaving and investment. Ethical issues invest-ment bankers must face are considered.

Working Capital ManagementB40.3325Prerequisite: B01.2311. 3 credits. Falland spring.Acquaints students with the modern tech-niques and practices of short-term corporatefinance. The primary focus is on the man-agement of the firm’s liquid assets: cash andsecurities, accounts receivable, and invento-ries. The importance of good forecastingtechnique and comprehensive informationsystems is discussed. Cases and examplesillustrate the variety of short-term financingsources and the complications on multina-tional working capital flows.

FinDotCom B40.3342 Prerequisite: B01.2311. 3 credits. Fall.This course integrates both an academic anda practitioner view of financial analysis fornew economy companies. Lectures alternatebetween two general notions: corporatefinance for the new economy and theInternet company from idea to IPO. Topicscovered include valuation of new economyfirms compared to old economy businesses,the financing of the new economy, IPOstrategies for dot firms, and the role mergersand acquisitions should play in the neweconomy. Faculty lectures are coupled withlectures by outside speakers who are leadersin new economy and Internet businesses.

Business of Music and Films B40.3343Prerequisite: B01.2311. 3 credits. Fall.The focus of this course is the business side ofthe music and film industry. Specifically, thecourse emphasizes the characteristics ofdeals, cash flows, and project and firm valu-ation within this highly dynamic and uncer-tain environment. While the core material iscorporate finance, the issues encompassaccounting, marketing, economics, andstrategy. Outside professionals help leadmany of the discussions. Student evaluationsare based on class participation, short cases,and class projects.

Entertainment FinanceB40.3344Prerequisite: B01.2311. 3 credits. Spring.A course designed to demonstrate how thebasic principles of finance can be applied to

the entertainment industry. Explore howcreative projects such as movies, plays, ormusic productions can be financed and eval-uated. Topics include entertainment industryspecial characteristics related to incentivecontracts and to complex revenue/profit-sharing agreements. Cases and class dis-cussion also look at how entertainmentcompanies interact with the financial mar-kets, and how novel financing arrangementssuch as the securitization of receipts arechanging the industry.

Law and Business of InvestmentBankingB40.3345Prerequisite: B01.2311; for second-yearM.B.A. and School of Law students. 3 credits. Spring.This course focuses on the legal and finan-cial aspects of three of the most commonlyencountered forms of transactions in whichinvestment bankers and lawyers guide clientinterests: (1) the pricing, due diligence prac-tices, negotiation, and documentation ofmerger agreement or acquisition transac-tions; (2) the legal and financial issues asso-ciated with initial public offerings; (3) issuesassociated with the private placement ofsecurities. Legal and financial issues aregiven equal attention.

Legal Foundations of AppliedFinanceB40.3346Prerequisite: B01.2311; for second-yearM.B.A. and School of Law students. 3 credits. Spring.This course provides an introduction to howthe laws of contracts, property, and otherareas influence financial markets and trans-actions. Topics include contract formation;damages or breach of contract; fiduciaryduties; property rights; the growth andimportance of intellectual property; tortliability; and the role of litigation in corpo-rate governance. Some introduction to thestructure of the United States legal systemand comparisons with other countries arealso included.

Entrepreneurial FinanceB40.3361Prerequisite: B01.2311. 3 credits. Falland spring.

Courses in Finance

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This course identifies and follows the wealthcreation cycle that begins with companystart-ups, passes through successive stages ofvarious kinds of private equity financing,and ends with the harvesting of the createdwealth through a sale or merger or initialpublic offering. Emphasis is placed on howentrepreneurial firms adapt financing andfinancial contracts to the information asym-metry problems, the high degree of uncer-tainty, and the conflicts of interest associatedwith start-ups.

New Venture Financing B40.3373Prerequisite: B01.2311. 3 credits. Fall and spring.Not open to students who have takenB40.3361.The focus in this course is on financingentrepreneurial companies, especially start-up and early-stage ventures. The overall aimis to understand how entrepreneurs and theirfinancial backers spot and create value. Howdo you tell a great opportunity from a meregood idea? How do you evaluate such ideasand then negotiate funding and new venturefinancing contract details on compensationand other issues? What needs to be done interms of managing such investments or pro-viding exit strategies? To understand howventure capital creates value, it is necessaryto examine the goals and strategies of theentrepreneurs, venture capitalists, theinvestors backing venture capital funds, andthe securities firms and public who becomeinvolved at the initial public offering stage.

Managing Financial BusinessesB55.2310Prerequisite: core courses. 3 credits. Spring.For second-year students; may be count-ed as a finance or nonfinance elective.This course looks at the management offinancial service organizations during peri-ods of rapid regulatory, cultural, and techni-cal change. The focus is on issues as per-ceived by top executives. Particular indus-tries and firms are selected for case studyexploration. Three main themes are exam-ined: strategy and its execution, managingculture, and managing technology. Classesare a combination of lectures, case studies,and outside speakers.

Corporate Finance in EMT FirmsB40.3125Prerequisite: B01.2311. 1.5 credits. Fall.The chief financial officers of firms in theentertainment, media, and technology(EMT) industries face many of the chal-lenges that would be encountered in moretraditional industries. But often in EMT therisks are different and the way standardfinance tools are applied is different. Thiscourse explores these unique aspects fromthe perspective of a corporate finance officerin such a company. Topics include raisingcapital, project selection, forecasting earn-ings, contracting, and external valuation offirms. Combines lectures with outside indus-try speakers and case studies.

Topics in Corporate FinanceB40.3160Prerequisite: B01.2311. 1.5 credits. Falland spring.Topics vary from semester to semester; checkregistration packets and department bulletinboards for current offerings. Advanced topicsof current interest are offered that illustratecurrent theory and empirical findings inactual case settings. Topics might focus onsuch issues as corporate control, initialpublic offerings, investment banking, man-agerial compensation, pension and healthplanning, share repurchase, ethical issues infinance. Students may only elect this courseonce in their degree program.

Cases in Corporate FinanceB40.3161Prerequisite: B01.2311 and B40.2302.1.5 credits. Spring.This course covers advanced material in cor-porate finance as the topics are revealed tostudents in various case studies. Class ses-sions consist primarily of case presentationsand discussions, with occasional lectures onbackground theoretical material. Topicsinclude valuation issues, mergers and acqui-sitions, corporate restructuring, financingstrategies, and bankruptcy avoidance.

Financial E-CommerceB40.3162Prerequisite: B01.2311. 1.5 credits.Spring.This course focuses on the transactions andpayment side of Web-based electronic com-merce. Topics include electronic bill present-

ment and payment; financial electronic datainterchange models that integrate tradingpartners and financial institutions; paymentmodels for business-consumer payments;business-to-business electronic procurementmodels; and Web-enabled credit manage-ment. Case studies and extensive Web “visit-ing” are part of this course.

Venture Capital FinancingB40.3173Prerequisite: B01.2311. 1.5 credits. Falland spring.Provides institutional background and detailnecessary to deal with the venture capitaland new issues markets. Examines basicvaluation issues, appropriate capital struc-ture, the value of liquidity, the value ofcontrol. Also considers the intangible aspectsof entrepreneurship and venture capitalforms of financing.

Mergers and AcquisitionsB40.3196Prerequisite: B01.2311. 1.5 credits. Falland spring.Examines selected topics in mergers andacquisitions from the viewpoint of finance.Basic theory and empirical findings form thebase for discussing such issues as mergerstrategy; defensive measures in merger; thevaluation of firms as a whole under differingmanagement strategies; impact of financingconsiderations on various stakeholders.

Legal Risk Issues in Mergers andAcquisitionsB40.3197Prerequisite: B01.2311. 1.5 credits.Spring.This course is designed to equip M.B.A. stu-dents with basic knowledge necessary toevaluate advice received respecting variouskinds of legal risks in mergers and acquisi-tions. Topics include acquisition motiva-tions; corporate law basics on alternativelegal structures for acquisitions (with taximplications); the legal roles of the board,management, and shareholders in M&Atransactions; documentation issues (includ-ing secrecy requirements); negotiatingstrategies including poison pills, fiduciaryouts, and deal protection provisions; poolingand purchase accounting issues; securitieslaw regulation, and federal and state regula-tory roles related to antitrust issues.

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Bankruptcy and ReorganizationB40.3198Prerequisite: B01.2311. 1.5 credits. Falland spring.Practical and theoretical implications ofbankruptcy and distressed restructuring.Focus is primarily on corporate form organi-zations ranging from banks to retail firms tomanufacturers. Topics include valuationeffects of bankruptcy; workout strategies; thebankruptcy-reorganization process from theviewpoint of different participants; the impli-cations of bankruptcy for banks, workers,and state and national industrial policy.

FINANCIAL INSTRUMENTS ANDMARKETS

Real Estate FinanceB40.2339Prerequisite: B01.2311. 3 credits. Falland spring.This course is designed for students whohave little or no prior knowledge of realestate. Different aspects of real estate analysisare covered, including finance, taxation,appraisal, investment analysis, development,and property management. A central focusof the course is on the risk and return ele-ments in commercial real estate financingand on how to modify the principles of cor-porate finance and investment theory to fitthe specialized needs of real estate analysis.Topics include liquidity problems, buyer orseller informational asymmetries, andinterrelatedness of financing and investmentdecisions. The growing role of internationalconsiderations, the importance of securitizedinstruments, and the changing roles ofbrokers are considered.

Mortgage Backed SecuritiesB40.2340Prerequisites: B01.2311 and B40.2339. 3 credits. Fall or spring.This course is designed to introduce studentsto mortgage-backed securities, primarily asan important application of fixed incometheory. Mortgages are explored with respectto differences in their cash flows, prepay-ment, and default probabilities. The dynam-ics of mortgage prepayments and pricing of embedded call options in a mortgage are discussed, followed by real-world appli-cations using spreadsheets to create andvalue mortgage derivatives using such tech-niques as option adjusted spreads. Among

the mortgage derivatives explored are mort-gage pass throughs, interest only and prin-cipal only strips, floaters and inversefloaters, and various types of collateralizedmortgage obligations.

Investment Philosophies in Real EstateB40.2341Prerequisites: B01.2311 and B40.2339. 3 credits. Spring.A course designed to expose students to awide range of investment philosophies in thespecial context of real estate investing. Eachweek, leading professionals or academicsspeak on a particular approach to real estateinvesting, how it is put into practice, and theextent to which it is successful.

Investment StrategiesB40.3122Prerequisite: B01.2311. 1.5 credits. Falland spring.Subjective approach to security analysis.Topics include industry selection, markettiming, interpretation of market history andcycles. Illustrations range from applicationsof the Dow theory to interest rate analysis tocontrary opinion theories. Goal is to blendcurrent market, political, and economic fac-tors in with standard firm financial data tomake better investment decisions.

Risk Planning and InsuranceB40.3113Prerequisite: B01.2311. 1.5 credits. Fallor spring.This course looks broadly at how firms andindividuals should evaluate risk and man-age their insurance programs. Topics mayrange from the organization of insurancerisks to asset and liability risk managementto personal financial planning. Illustrationsare drawn from examples in business andpersonal use of insurance; from tax andaccounting considerations; and from chang-ing regulatory pressures on insurance firms.

Investment PhilosophiesB40.3124Prerequisite: B01.2311. 1.5 credits.Spring.A course designed to expose students to awide range of investment philosophies.Each week leading professionals or aca-demics speak on a particular philosophy,how it is put into practice, and what deter-

mines ultimate success. The intent is toprovide an unbiased forum for the presen-tation of different investment styles, whilesupplying tools and empirical evidence toenable students to make their own judg-ments about the relative value of these vari-ous philosophies.

Topics in InvestmentsB40.3176Prerequisite: B01.2311. 1.5 credits. Falland spring.Topics vary from semester to semester; checkregistration packets and department bulletinboards for current offerings. Topics coverprofessional issues in the design and use offinancial instruments or in developingfinancial markets. Recent offerings haveranged from applying arbitrage strategies tohigh-technology investing, to investing forpension funds, to municipal securities mar-kets. Students may only elect this courseonce in their degree program.

Topics in Real Estate FinanceB40.3177Prerequisite: B01.2311. 1.5 credits. Fallor spring.Topics vary from semester to semester;check registration packets and departmentbulletin boards for current offerings. Cov-ers topical issues in real estate financeranging from mortgage-backed securities,to regional planning factors in commercialreal estate development, to innovations in syndicating development activities.Students may only elect this course once intheir degree program.

Applications of PortfolioAnalysisB40.3181Prerequisite: B01.2311. 1.5 credits. Falland spring.Advanced professional strategies for manag-ing portfolios and evaluating financialinstruments. Topics range from arbitragetrading strategies to contrarian investing toissues in public pension fund management.Taught by leading Wall Street professionalsand senior faculty members.

Policy Making in FinancialInstitutionsB40.3312Prerequisite: B01.2311. 3 credits. Fall orspring.

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Analyzes the financial management offinancial institutions. Focus is primarily onasset/liability management of bank-typeinstitutions. Issues include regulatory con-straints; credit risk management; liquidityand interest rate considerations; securitiza-tion; financing on or off balance sheet activ-ities. Macro issues related to financial systemstability, information flows, and regulatorycapital requirements and guarantees arealso considered.

Equity Instruments and MarketsB40.3331Prerequisite: B01.2311. 3 credits. Falland spring.Covers the valuation of equity securities andinvestment strategies utilizing them. Topicsinclude the mathematics of equity valuation,history of stock returns, varieties of equityinstruments, and the many varieties ofcommon stock risk. Reviews professionalportfolio strategies and forecasting tech-niques; the evaluation of mutual funds andpension funds; the role of equity options andfutures in stock portfolio strategies; the roleof technical analysis; and ethical issues indeveloping and using information thatimpacts stock prices.

Advanced Portfolio AnalysisB40.3332Prerequisite: B01.2311. 3 credits. Fall orspring.Builds on the conceptual foundations of the portfolio material introduced inFoundations of Finance. Course focuses onmethods of constructing and evaluatingportfolios in a variety of settings. Topicsinclude complex portfolio objectives, alter-native implementation strategies, measure-ment of portfolio performance, the role ofcomputers and asset allocation schemes inrisk management, and the macromarketimpacts of portfolio strategies.

Debt Instruments and MarketsB40.3333Prerequisite: B01.2311. 3 credits. Falland spring.Covers the valuation of fixed income securi-ties and investment strategies utilizingthem. Topics include the mathematics ofbond valuation, immunization, history ofinterest rate structures, varieties of debtinstruments, default, and country risk con-

siderations. The role of financial futures andoptions on bond portfolio strategies isanalyzed, as well as more traditional ap-proaches to debt portfolio strategies.

Futures and OptionsB40.3335Prerequisite: B01.2311. 3 credits. Falland spring.Covers derivative securities and markets. Theprimary focus is on financial futures andoptions, but there is also reference to theextensive markets in commodity marketinstruments. Topics include market institu-tions and trading practices, valuation mod-els, hedging and risk management tech-niques, the application of contingent claimsanalysis to contracts with option-type char-acteristics. The material is inherently morequantitative than in some other courses.

Equity Markets: Trading andStructureB40.3349Prerequisite: B01.2311. 3 credits. Spring.This course takes a comprehensive overviewlook at how markets are organized and howtrading occurs. The course establishes aframework for understanding how existingmarkets are set up, how trading occurs inthem, and how these markets evolve overtime. While the course concentrates on secu-rities markets and trading practices, most ofthe principles developed are also applicableto other kinds of markets—markets forproducts, service, and information. Courserequirements include some limited comput-erized trading simulations and a coursepaper related to some aspect of a newtrading market.

Managing Investment FundsB55.3320Prerequisite: B01.2311. 3 credits. Falland spring.Formal application required; may becounted as a finance or nonfinanceelective.This course is the administrative vehicle for operating the Michael Price StudentInvestment Fund (MPSIF). This is a real twomillion dollar endowment fund that is man-aged by students. Students serve as portfoliomanagers in one of the subfunds. Each par-ticipant must be prepared to take on morethan one role in this activity—research

analyst, trader, portfolio manager, marketstrategist and economist, compliance officer,public relations manager, accountant, andthe other activities that real funds mustundertake. There are occasional lecturesfrom faculty or outside speakers on specialtopics of interest, but the primary activity is the management of these endowmentfunds. This showcase opportunity is avail-able to a limited number of students each year. Formal application is required (see the fund Web site for details atwww.stern.nyu.edu/~mpsif). Studentsparticipate over a two-semester period for the 3 credits.

INTERNATIONAL FINANCE

International InvestmentsAnalysisB40.3103Prerequisite: B01.2311. 1.5 credits.Spring.Focus is on fundamental and technicalsecurity analysis applied to foreign securitymarkets. Topics include the structure andoperation of foreign stock markets, account-ing/information constraints in evaluatingforeign securities, and the impact of multi-national flows on market liquidity. Portfoliomanagement practices and constraints in various countries are examined and eval-uated against free market strategies.

International TreasuryManagementB40.3150Prerequisite: B01.2311. 1.5 credits. Fall.Not open to students who have takenB40.3350.Emphasizes the professional operatingaspects of managing the treasury function of international corporations and banks.Topics include short-term asset and liabilitymanagement given interest rate andexchange rate volatility, and the mechanicsand instruments of the internationaltreasury function.

International Treasury RiskManagementB40.3152Prerequisites: B40.3150 and B01.2311.1.5 credits. Spring.Analyzes the risks and returns in interna-tional treasury operations. Topics include

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price risk and return, various kinds of creditrisks, and liquidity risk. The strategies of lia-bility diversification and asset securitizationin international settings are considered. Themulticultural aspects of ethical issues forfirms and individuals are also discussed.

Topics in International FinanceB40.3188Prerequisite: B01.2311. 1.5 credits. Fallor spring.Topics vary from semester to semester; checkregistration packets and department bul-letin boards for current offerings. Coverstopical issues in international finance.Issues may vary from the development offinancial institutions in Eastern Europeaneconomies, to the impact of technology onmultinational capital flows, to the move-ments of secret money around the world.Students may only elect this course once intheir degree program.

International Fixed IncomeB40.3380Prerequisite: B01.2311. 3 credits. Fall orspring.This course describes major internationalfixed income securities and their markets,and develops tools for valuing these securi-ties and managing interest rate andexchange rate risks. It includes a number of special topics including such issues astheoretical and empirical relationshipsamong term structures for several worldsectors; asset allocation strategies in theinternational fixed income arena; the useand valuation of international-basedderivatives such as interest rate futures,currency swaps, and exotics; and analysis of emerging market debt.

Emerging Financial MarketsB40.3384Prerequisite: B01.2311. 3 credits. Fall orspring.The perspective in this course is that of aninvestment manager who may be responsiblefor investment portfolios at a bank, an insur-ance company, a pension or endowmentfund or personal trust, a mutual fund.Emerging financial markets around theworld are examined. Problems consideredinclude political risk, currency risk, excessspeculation or market manipulation, differ-ing accounting rules and standards, and per-formance measure comparison standards.

Financial investments considered rangefrom stocks to bonds to derivatives to realestate. Class discussion and reading focus onboth the theoretical background and thepractical knowledge necessary to deal effec-tively with the risks and opportunities thatare a part of emerging financial markets.

Global Banking and CapitalMarketsB40.3387Prerequisite: B01.2311. 3 credits. Falland spring.Analysis of the competitive performance andstrategic positioning of financial institutionsin multinational capital markets. Marketsegmentation theories are applied to marketsfor syndicated lending, trade finance, projectfinancing. Considers international aspects of raising capital in multinational, multi-regulatory settings. Examples may includemergers and acquisitions, joint venturecapital projects, and government or privatepartnership projects.

International FinancialManagementB40.3388Prerequisite: B01.2311. 3 credits. Falland spring.Analysis of key international financial mar-kets including discussion of pricing, effi-ciency, and institutional features of thesemarkets. Markets covered may include for-eign exchange markets, currency futures,options and swaps, and Eurocurrency andEurobond markets. Focus is on techniquesfor evaluating multinational risks andreturn shifting factors such as internationaltax codes, and applying such concepts to thefinancial management of currency, capital,and capital projects.

ADVANCED THEORY AND PH.D.FINANCE COURSES

Financial Theory IB40.2331Prerequisite: permission of the depart-mental Ph.D. program adviser. 3 credits.Fall.The first course in the theory of financialdecision making. Focus is primarily on indi-vidual decision making under certainty anduncertainty. Topics include valuation theory,asset selection, general portfolio theory, assetpricing theory, general equilibrium in finan-cial markets.

Financial Theory IIB40.2332Prerequisites: permission of the depart-mental Ph.D. program adviser andB30.3351. 3 credits. Spring.The second course in the theory of financialdecision making. Focus is primarily onmethods of empirical financial economics.Standard econometric procedures and thenewest techniques in estimating proceduresare studied in the context of applications tofinancial asset pricing and to corporatefinance issues.

Financial Theory IIIB40.2333Prerequisites: permission of the depart-mental Ph.D. program adviser andB40.2331. 3 credits. Fall.The third course in the theory of financialdecision making. The first half of this coursedeals with issues in corporate finance.Topics include agency theory, signaling andasymmetric information models, taxes, div-idends, and capital structure. The secondhalf of the course focuses on the pricing ofoptions, futures, and other derivative securi-ties instruments.

Seminar in Financial MarketsB40.3318Prerequisites: permission of the depart-mental Ph.D. program adviser andB40.2332. 3 credits. Fall or spring.Prepares advanced doctoral students for thecomprehensive examination and for inde-pendent research. Focus is on currentresearch topics in macrofinance and in thestructure of financial markets.

Seminar in Corporate FinanceB40.3328Prerequisites: permission of the depart-mental Ph.D. program adviser andB40.2333. 3 credits. Spring.Prepares advanced doctoral students for thecomprehensive examination and for inde-pendent research. Focus is on currentresearch topics in corporate finance.

Quantitative Modeling inFinanceB40.3334Prerequisites: permission of the depart-mental Ph.D. program adviser andB40.2332. 3 credits. Fall or spring.A course that focuses on mathematical and

econometric topics in finance. Topics mayrange from the use of stochastic models anddiffusion processes in financial modeling, tothe newest econometric estimating proce-dures, to studies of how such procedureshave been applied.

Seminar in InvestmentsB40.3338Prerequisites: permission of the depart-mental Ph.D. program adviser andB40.2332. 3 credits. Fall.Prepares advanced doctoral students for thecomprehensive examination and for inde-pendent research. Focus is on currentresearch topics in financial instruments andin portfolio theory analysis and testing.

International FinanceB40.3389Prerequisites: permission of the depart-mental Ph.D. program adviser andB01.2311 or equivalent. 3 credits. Fall or spring.Theory and analysis of international finan-cial markets. Topics include valuation ofassets under global theory assumptions;pricing of foreign exchange risk; foreign cur-rency options and futures; and internationalfinancial intermediation. Topics in corporatefinance are also considered. There is anemphasis on evaluating empirical evidencerelated to each of the topics covered.

Honors Project CourseB40.3390Prerequisites: B01.2311, final semester inprogram, and permission of the depart-mental deputy chairman. 3 credits. Falland spring.A restricted course primarily for advancedmaster’s program students, giving a student

an opportunity to work individually with afaculty member on a current research pro-ject. The project includes fieldwork, writtenreports, and oral presentations. Students areexpected to attend some of the Department of Finance research seminars and to readcurrent research on the topic selected. Verylimited enrollment.

Dissertation SeminarB40.9901-9918Prerequisites: permission of the depart-mental Ph.D. program adviser at orbeyond comprehensive examination stage in the doctoral program. 18 credits.Fall and spring.Students register for this course once theyreach the comprehensive examination stagein their doctoral program. Individual meet-ings with the dissertation adviser and mem-bers of the reading committee.

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Information Systems

pproximately 50 percent of all new capitalinvestment in America is in the area ofinformation technology (IT). Computers

and communication systems are revolutionizingorganizations and changing the structure of marketson a global scale. Every manager deals with technol-ogy on a daily basis and needs to understand how it can be used to increase effectiveness, to restructureorganizations, and to gain a strategic advantage.

A

The information systems (IS) curriculumprovides courses that explain informationtechnology and how it can be used effec-tively. The emphasis is on understandingconcepts and developing analytical skillsthat permit recommending proper tech-nology policies.

An IS major is especially appropriate forstudents seeking careers in managementconsulting, in Internet technology com-panies, in the information systems depart-ments of major organizations, and ingeneral management or sales with “high-tech” companies.

The curriculum contains introductorycourses for students with little or no back-ground in IT, as well as advanced appliedtechnology and managerial courses for prac-ticing information systems professionals.

Students may construct a program to meettheir own needs, whether they are interestedin majoring in IS or in taking one or twocourses as electives outside their major field.

Acting Chairman: Jon A. Turner

Professors: Kenneth C. Laudon, RoyRadner, Lee Sproull, Edward A. Stohr, Myron Uretsky

Associate Professors: Yannis Bakos,Patricia Barron, Vasant Dhar, ArthurGoldberg, Jon A. Turner, Alexander Tuzhilin,Norman H. White

Assistant Professors: AbrahamBernstein, Michael Davern, Bing Jing,Natalia Levina, Foster Provost, ArunSundararajan, Vasilis Vassalos, ShinkyuYang

Adjunct Associate Professors: AdrianBowles, Kevin Brabazon, Allan Grody,Marion Morgenthal, Ken Marr

Adjunct Assistant Professors: DanBarrish, Ernie Campbell, Jonatan Jelen

Director of the M.S. Program inInformation Systems: AlexanderTuzhilin


Web site for Department of Infor-mation Systems: www.stern.nyu.edu/is

Web site for M.S. Program in Infor-mation Systems: http://is-2.stern.nyu.edu/~ms-is

Master of Science (in Information Systems)

The Master of Science (in InformationSystems) degree program is a cooperativeprogram between the Department ofInformation Systems at the Stern School ofBusiness and the Department of ComputerScience of the Courant Institute of

Mathematical Sciences, Graduate School ofArts and Science. Combining courses in boththe Departments of Computer Science andInformation Systems, together with a gener-al business component, the program isintended to create information systems spe-

cialists capable of applying informationtechnology to business problems without thebroad requirements of the M.B.A. Program.For detailed requirements, see pages 23-24.

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REQUIRED CORE COURSE FORMAJORS AND NONMAJORS

Fundamentals of InformationTechnology and ElectronicCommerceB01.21191.5 credits.Information technology is transformingproducts, organizations, and markets. Firmsare using information technology not just tosolve isolated problems, but also as a catalystfor organizational change and as an inte-grating force that can span functions, time,and space. At the same time, virtually everyinternal and external business process isbecoming dependent on computers. In fact,it has been estimated that more than half ofall new capital investment in the UnitedStates goes toward information technology.This technology has become a critical ele-ment in the success, and even survival, oforganizations. For example, the emergenceof the Internet and the increasing role ofelectronic commerce have propelled compa-nies like Cisco and Yahoo! to success, whilesome traditional intermediaries, like travelagents, may face extinction unless theyrespond to the emergence of electronic coun-terparts. This course (1) provides an intro-duction to the fundamentals of informationtechnology and (2) discusses its effects onmodern business.

ELECTIVE COURSES ININFORMATION SYSTEMS

Managing the Digital FirmB20.2314Corequisite: B01.2119. 3 credits.This course focuses on the use of both tradi-tional and Web-based information technolo-gies to manage the firm. These technologiesmake possible new business models, neworganizational structures, and new manage-ment processes. Topics covered include newtechnology infrastructure and architecture,major functional applications of IT withinthe firm, new IT-based business models,enterprise systems, knowledge management,multinational systems, managerial deci-sions about technology, and new organiza-tional forms.

Information and InternetTechnologiesB20.2317Corequisite: B01.2119. 3 credits.This course introduces the technical con-cepts underlying current and future infor-mation systems, with an emphasis onInternet-related technologies. The coursebegins with the fundamentals of computersystems, databases, and networking. Thenspecial emphasis is given to technologiesthat underlie the World Wide Web and e-commerce, including HTML, XML, emerg-ing interoperability standards, security,search, information retrieval, agent tech-nologies, data warehousing, and data min-ing. This course provides both a refresher tobasic concepts as well as coverage of cutting-edge technologies. It assumes no priorknowledge of technology or programming,beyond experience with personal computers.Course requirements include homeworkassignments and a term paper.

Information Technology and StrategyB20.2318Corequisite: B01.2119. Not open tostudents who have taken B65.3332.Counts toward a major in informationsystems or management. 3 credits.The course explores the role of informationtechnology (IT) in corporate strategy withspecific attention paid to the Internet.Different Internet business models are iden-tified and are used to explain competitivepractices. Cases and lectures are used to showhow technology is used to gain and sustain acompetitive advantage. The course alsodescribes different Internet technology infra-structures and identifies issues in managinga firm’s technology as a strategic asset.

Field Studies in the DigitalEconomyB20.3330Corequisite: B01.2119. 3 credits.This course offers a firsthand examination ofbusiness challenges in the digital economyby taking advantage of the Stern School’sunique location in the middle of SiliconAlley. Students participating in the coursevisit New York area digital commerce firms,

analyze their strategies and activities, andthen prepare case studies or analyses basedon these companies. These cases and reports(1) identify the changing issues being facedby companies operating in this environ-ment, (2) demonstrate how customers oper-ating in this environment are coping withrapidly evolving changes, and (3) present aframework for identifying success factors forthese companies compared with counter-parts elsewhere in the economy. Teams offaculty and business executives guide andassess student activities.

Designing and Developing Web-Based SystemsB20.3322Corequisite: B01.2119 and B20.2317 orequivalent background as well as theability to program in some program-ming language. 3 credits.This course covers the management anddevelopment of Web-based information sys-tems. Students analyze, design, and developWeb-enabled database applications usingseveral different approaches. Emphasis is onconcepts and architecture of new technolo-gies. Topics include the CGI processingmodel and its alternatives, Java applets, Javaservlets, JDBC; application service providers;multitier client-server computing; object-oriented models; active server pages andother server-based processing alternatives;distributed databases; distributed businessobjects such as CORBA; text processing appli-cations (PERL, awk, etc.); and platformoptions (Windows NT versus Unix).

Data Mining and KnowledgeSystemsB20.3336Corequisite: B01.2119. 3 credits.Data mining is the process of converting theraw data into useful information or knowl-edge required to support decision making. Itautomates the process of knowledge discov-ery, making us orders of magnitude moreproductive in our search for useful informa-tion than we would be otherwise. It alsoincreases the confidence with which we canmake business decisions. The course focuseson two subjects simultaneously: (1) theessential data mining and knowledge rep-

Courses in Information Systems

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resentation techniques used to extract intel-ligence from data and experts and (2)common problems from the fields offinance, marketing, and operations/servicethat demonstrate the use of the various tech-niques and the tradeoffs involved in choos-ing from among them. The areas explicitlycovered in the course are OLAP, neural net-works, genetic algorithms, rule induction,fuzzy logic, case-based reasoning, and rule-based systems.

Electronic CommerceB55.3338Corequisite: B01.2119. 3 credits.The Internet and the emerging “informationsuperhighway” are dramatically altering theway we transact goods and services. Thiscourse examines how new information tech-nologies and networks will affect theexchange of goods and services between buy-ers and sellers in the twenty-first century.How will advertising, purchasing, customerservice, and trade settlement processeschange? What are the economics of differentelectronic commerce models for theseprocesses? The course evaluates key corporatestrategies and initiatives in electronic com-merce and the enabling network and userinterface technologies that are redefiningbusiness as we know it. These technologiesinclude the Internet, digital media, elec-tronic payments, etc. Finally, the course com-bines the study of the economic and businessstrategy principles of e-business with anapplied look at specific companies andindustries, such as on-line financial services,on-line retailing, and electronic publishing.

Financial Information SystemsB20.3350Corequisites: B01.2119. 3 credits.This course investigates the role of informa-tion technology (IT) in financial marketoperations and in enhancing the competitiveperformance of financial services firms. Itexamines the development and use of finan-cial information systems such as traderworkstations, electronic payments mecha-nisms, funds transfer networks, and securi-ties market trading and back-office process-ing systems. The objectives are to build anunderstanding of the IT impacts on bankingand markets, to gain knowledge of the lead-

ing-edge applications of systems, and todevelop skills in implementing computer-based financial analysis and models.

Risk Management SystemsB20.3351Prerequisites: B01.2119 and B01.2311.3 credits.The concepts of risk management havetaken on new meaning and importance asfinancial assets, energy, and raw materialprices have become more volatile in an ageof deregulated global markets. In response,risk management systems have taken on anall-pervasive, systematic presence in corpo-rations and financial firms, not unlike theearlier era concept of management infor-mation systems. This course examines thevarious tools, methods, and approaches tomanaging risk as viewed from an enterpriseperspective. It focuses on the latest tech-niques and the practical implications oftheir implementation in departmental andcorporate-wide information processing sys-tems, with a particular emphasis on finan-cial institutions. The required readings focusprimarily on the risk management systemsused by firms engaged in financial assettrading, hedging, and portfolio manage-ment. The readings and class lecturesprovide a broad view of risk managementprinciples and theories across the widedimension of financial institutions. Riskmanagement systems between financialinstitutions and industry-wide risk manage-ment institutions are studied as well.

Business Process Design andImplementationB20.3356Corequisite: B01.2119. 3 credits.This course focuses on the design, manage-ment, and implementation of IT-supportedbusiness processes. The evolution of infor-mation technology and the near ubiquity ofthe Internet give business firms the opportu-nity to completely redesign their businessprocesses, to develop systems faster, and toimplement systems in entirely new ways.Topics covered include business processanalysis and design, implementation,change management, and performancemeasurement systems. Relevant technolo-gies include Web-based application service

providers, workflow management systems,knowledge management systems, and enter-prise systems. Students learn how to analyzea business problem, design new businessprocesses, and manage the implementationprocess. They also gain an understanding ofthe technology support structure required forsuccessful implementation of organizationaland interorganizational processes.

Advanced Technologies forBusiness ApplicationsB20.3362Prerequisite: B20.2317, its equivalent, orpermission of the instructor. 3 credits.This course provides a thorough examina-tion of several key technologies that enablemajor advances in e-business and otherhigh-tech industries, and explores the newbusiness opportunities that these technolo-gies create. For each of these technologies,the course provides an overview of the“space” corresponding to this class, exam-ines who the major players are, and how theyuse these technologies. Students then studythe underlying technologies; examine thebusiness problems to which they can beapplied; and discuss how these problems are solved. Key companies in the “spaces”created by these technologies are also stud-ied: what these companies do; which tech-nologies they use; how these technologiessupport their critical applications; and howthese companies compete and collaborateamong themselves. Moreover, the courseexamines possible future directions andtrends for the technologies being studied;novel applications that they enable; and howhigh-tech companies can leverage applica-tions of these technologies. This is anadvanced course, and it is intended for thestudents who have already acquired basicknowledge of technical concepts and whowant to advance their knowledge of tech-nologies beyond the basics and further devel-op an understanding of the dynamics of the“spaces” associated with these technologies.

Managing Financial BusinessesB55.2310Corequisites: B01.2311, B01.2119, andB01.1302. An interarea course infinance, information systems, andmanagement. 3 credits.

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Knowledge Management andDecision SystemsB20.3130Corequisite: B01.2119. 1.5 credits.The focus of this course is a blend of theories,approaches, and technologies for manageri-al problem solving and knowledge manage-ment. The course reviews common fallaciesand pitfalls in decision making and seeks toequip students with the knowledge of man-agerial techniques and information tech-nologies for effective organizational decisionmaking. Students are exposed to methodsand technologies for leveraging intellectualcapital, both at an individual and firm level.Major topics of the course include “decisiontraps,” problems in dynamic decision mak-ing, systems thinking, decision support, andtechnologies that facilitate knowledge shar-ing, knowledge management, and organiza-tional learning.

Technology Project ManagementB20.3131Corequisite: B01.2119. 1.5 points.This minicourse equips students to managelarge-scale information technology projectsthat have a significant impact on the organi-zation. Technical topics include project spec-ifications, risk analysis, cost estimation andbudgeting, time and resource schedulingusing critical path methods, and implement-ing a project control system. Managerial top-ics include stakeholder analysis, buildingpartnerships in the organization, changemanagement, work redesign, and perfor-mance measurement systems.

Electronic CommunitiesB20.31351.5 credits.Substantial increase in household Internetconnections has led to a dramatic rise in the

number of people participating in large,Internet-enabled groups outside the workcontext. Many are organized around recre-ation and entertainment; some are orga-nized around civic and political issues; somearound personal needs for support or advice;and some around technical topics. With thepublication of Net Gain in 1997 and thegrowth in Linux and other open-source tech-nologies came the realization that thesegroups could be shaped into a source of busi-ness value. The goals of this course are tointroduce students to varieties of electroniccommunities; to provide frameworks forevaluating their usability and sociability;and to evaluate alternative business andtechnology models for electronic communi-ties. Students complete individual assign-ments based on the readings and complete agroup assignment based on an analysis ofelectronic communities.

Minicourses

Information Systems Courses for Doctoral Students

Technical Foundations ofInformation SystemsB20.3386Open only to doctoral students. 3 credits.The goal of the course is to provide studentswith sufficient background in a variety oftopics in computer science to enable them tounderstand and possibly conduct research intechnical areas of information systems (IS).One of the immediate goals of the course isto develop sufficient technical skills so thatthe students can read—intelligently andcritically—technical IS papers they mayencounter in other technical IS courses andlater on in their professional lives. To accom-plish this goal, the course covers a broad setof topics in computer science, including settheory, computability, finite automata,Turing machines, analysis of algorithms,elements of logic, databases, and softwareengineering.

Organizations Strategy andTechnologyB20.3387Open only to doctoral students. Co-offeredby the Departments of InformationSystems and Management. 3 credits.This course introduces students to the princi-pal theoretical frameworks, methodologicalapproaches, and empirical findingsresearchers use to explain the relationshipbetween environments and organizations.The first part of the course develops the fourprincipal paradigms on which organizationtheorists rely to explain how organizationsadapt to their environments. These para-digms encompass now popular neoinstitu-tional theory, organizational ecology, andcontingency theory, as well as resource, net-work, and cognitive perspectives. Specialtopic sessions are devoted to the role of tech-nology and the conduct of planned change.

The second part of the course takes a strate-gic perspective to the firm’s concern withadaptation. The class explores how environ-ments propel managers to formulate busi-ness, corporate, and collective strategies, aswell as to design structures and controlsystems to enhance their firms’ effectiveness.

Research MethodsB20.3388Open only to doctoral students. Co-offeredby the Departments of InformationSystems, Management, and Marketing. 3 credits.This course covers selected topics in behav-ioral science research, including researchdesign, model building, measurement, datagathering, and interpretation. Students readand discuss research papers and preparewritten and oral presentations. Studentsidentify a research question and prepare a

This course covers cross-departmental issuessuch as financial analysis of competitive per-formance, global economic and regulatoryissues, business strategy, human behavior incomplex organizations, and informationtechnology. It encourages awareness of

important management requirements forthe financial services industry, and provides aframework for understanding how these areimplemented and carried out in successfuland unsuccessful firms. This interareacourse forms an integrative learning expe-

rience for students majoring in finance,information systems, or management and is cotaught by professors from thesedepartments.

research proposal, then execute theirresearch with the objective of producing ajournal-quality paper.

Seminar on Current ResearchTopicsB20.3389Open only to doctoral students. 3 credits.In-depth study of major research topics inthe field of information systems, led bymembers of the faculty. Topics include data-base and knowledge-based systems, commu-nications/networks and coordination tech-nologies, decision theory, economics ofinformation systems, advanced systemsanalysis and design, and software engineer-ing. Topics are revisited on a two-year cycle.

Decision Making andOrganizational BehaviorB20.3390Open only to doctoral students. Co-offeredby the Departments of InformationSystems and Marketing. 3 credits.Commences with a survey of normativeand descriptive models of individual andgroup decision making in a world that is characterized by conflicting objectives,different risk-taking attitudes, uncertainoutcomes, and limited computationalresources. The course then examines howthe organizational context may influenceindividual and group decision processes.This part also examines models of groupcomposition, motivation, and leadership.In addition to exploring key models indecision theory and organizational behav-ior, the course demonstrates how thesemodels can be used to support empiricaland normative research in such areas asmanagement, marketing, finance, andinformation systems.

Special Topics: Strategy andStrategizing (Spring 2002)B55.3365Open to all Stern faculty and doctoralstudents, and to advanced M.B.A. stu-dents with permission of the instructor. 3 credits. Spring.This is an interdepartmental faculty-studentworkshop, supported in part by the Center forDigital Economy Research. The weeklymeetings are devoted mainly to presenta-tions by Stern faculty, although some visitorsmay be scheduled. Participants are expectedto attend the workshop regularly. Studentstaking the workshop for credit are alsoexpected to write a term paper.

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International Business: A Multidisciplinary Program

he International Business Area of the SternSchool offers an extensive program for stu-dents planning careers in multinational

firms, internationally oriented financial institutions,and national and international agencies dealing withglobal business. Stern’s program in international busi-ness was one of the first offered by a major businessschool and continues to be one of the best.

The International Business Area serves as acatalyst for Stern’s focus on global business.The area brings together faculty with interestand expertise in international dimensions ofmanagement, finance, marketing, account-ing, and economics. They have an internalreputation for quality teaching and an exter-nal reputation for innovative research. Thepopular “IB” comajor provides students withan international perspective that comple-ments a functional specialization. Specificcourses develop topics ranging from multi-national corporate strategy to internationalcapital markets. Students taking this co-major must fulfill all the requirements for amajor in one of the basic functional fields(finance, marketing, etc.), possibly includ-

ing international courses in that field; theyalso take prescribed international courses inother fields as electives. All comajors musttake an international business core courseanalyzing foreign environments and inter-national management problems. Studentscannot major in international business.

Area Chairman: Thomas Pugel

Professors: David Backus, Frederick D. S. Choi, Thomas Cooley, C. Samuel Craig, Susan Douglas, Richard Levich,Durairaj Maheswaran, Rita Maldonado-Bear, Thomas Pugel, George Smith, Roy C.Smith, Marti G. Subrahmanyam, IngoWalter, Bernard Yeung

Associate Professors: Jacob Boudoukh,Jianping Mei, Nouriel Roubini, James MylesShaver

Assistant Professors: Juan Alcacer, Ya-Ru Chen, Wilbur Chung, AlessandraFogli, Xavier Martin, Fabrizio Perri,Vincenzo Quadrini, Rachelle Sampson

Instructors: Mikelle Calhoun, ChristopherMann, Robert Salomon

Adjunct Professors: Anindya Bhatta-charya, Ian Giddy, Arjun Mathrani, FrederickMilitello, Harvey Poniachek, Heinz Riehl,Jeffrey YuQing Shen, Martin Siegel, Venka-taramani Srivatsan, Kishore Tandon

Area Office: KMC, 44 West Fourth Street,7th Floor

Requirements for the M.B.A. Degree with a Comajor in International Business

The program contains two components:

1. THE INTERNATIONALBUSINESS CORE

Multinational BusinessManagementB65.2340

2. INTERNATIONALLY ORIENTEDELECTIVES

For the M.B.A. degree with a comajor ininternational business, three internationallyoriented courses (9 credits) are required inaddition to the core course. These coursescan be taken in major or elective areas. Thetotal requirement is four courses (12 cred-its), including the international core course.

Students who participate in the Inter-national Management Program (IMP)receive 6 credits of internationally orientedelectives if they choose to pursue a comajorin international business. For a suitablecourse, 3 of these 6 credits can substitute forMultinational Business Management.

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International Accounting andFinancial Statement AnalysisB10.3335For description, see page 35.

Economic Regulation andGlobal IntegrationB30.2315For description, see page 38.

The Comparative Analysis of theJapanese and U.S. EconomiesB30.2337For description, see page 38.

International MacroeconomicPolicy: Theory and Evidencefrom Recent Financial CrisesB30.2380For description, see page 39.

Post-Soviet Economies inTransitionB30.2383For description, see pages 39-40.

International Competition andthe Multinational EnterpriseB30.2385For description, see page 40.

Financial HistoryB30.2392For description, see page 40.

Theory of International TradeB30.3384Ph.D. level. For description, see page 40.

International MacroeconomicsB30.3386Ph.D. level. For description, see page 41.

Global Perspectives on theHistory of EnterpriseB30.2338For description, see page 38.

International InvestmentsAnalysisB40.3103For description, see page 52.

International TreasuryManagementB40.3150For description, see page 52.

International Treasury RiskManagementB40.3152For description, see pages 52-53.

Topics In International FinanceB40.3188For description, see page 53.

International Fixed IncomeB40.3380For description, see page 53.

Emerging Financial MarketsB40.3384For description, see page 53.

Global Banking and CapitalMarketsB40.3387For description, see page 53.

International FinancialManagementB40.3388For description, see page 53.

International FinanceB40.3389Ph.D. level. For description, see page 54.

Multinational BusinessManagementB65.2340For description, see page 64.

The Global Manager andNegotiatorB65.2360For description, see page 64.

Globalization of theEntertainment IndustryB70.2112For description, see page 72.

International MarketingManagementB70.2385For description, see page 71.

Tax Aspects of InternationalBusinessB95.3343For description, see page 36.

World Debt and EmergingMarketsB50.2132Prerequisites: B01.2303 or theequivalent. 1.5 credits.Examines the roots of world debt problemsand their implications for the internationalmonetary system, as well as the roles andinterests of the different players, such as sov-ereign borrowers, commercial banks, andsupranational institutions. Special attentionis devoted to business opportunities in“emerging markets.” Literature on the sub-ject is reviewed, and practical examples areprovided, with special emphasis on Mexicoand South America.

Western European BusinessB50.23103 credits.Analyzes the business systems of a variety ofWestern European nations as well as theinfluence of environmental factors (geo-graphic, economic, political, social, cultur-al) and internal forces on their development.Emphasizes the European Union and theforces of integration operating in Europe.

Asian BusinessB50.21141.5 credits.Analyzes the environmental, managerial,and functional aspects of conducting mul-tinational corporate business in Asia.Encompasses economic issues as well associocultural factors that affect corporatestrategies for doing business in Asia.Examines the business implications of Asianregional groups (APEC, ASEAN, and SAARC).

Courses in International Business Subjects

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China’s Economic System:Doing Business in ChinaB50.21161.5 credits.Provides an overview of the Chinese econo-my and business in China since 1980.Examines the transition from plan to marketin the industrial sector, the opening ofChina, and the roles of joint ventures andforeign corporations. Emphasizes structuralchanges, including the reform of state-owned enterprises, the development oftown/village enterprises, the emergence ofcapital markets, and underlying financialand legal reforms. Develops a political, eco-nomic, and legal framework for analyzingongoing changes in China.

Emerging EconomiesB50.23353 credits.Provides an understanding of the process ofdevelopment, the significant elements ofdevelopment strategies and policies, and theproblems encountered in implementation.Links policy choices to their consequencesfor growth, economic instability, and incomedistribution, so that students are in a betterposition to appreciate the risks and opportu-nities in emerging markets. The emphasis ison practical aspects of development.

MDL—InternationalManagement SimulationB50.23973 credits.Provides an opportunity to run $60-100million companies involved in interna-tional business. Participants identify andanalyze domestic and international opportu-nities, negotiate with counterparts in othercompanies, implement decisions, and ana-lyze results as well as report to a board ofdirectors comprised of executives from lead-ing companies.

Emerging Markets InitiativeB50.33123 credits.The purpose of this course is to study busi-nesses within the context of an emergingcountry, including its economy, its culture,and its position within the global businessenvironment. The course combines class-room sessions with a study tour of a chosencountry. Faculty and regional experts provideclassroom instruction while the study tour isprimarily student organized. Groups of stu-dents work on projects sponsored by corpora-tions, alumni, or Stern School.

Research Methods inInternational BusinessB50.3183Open only to doctoral candidates or bypermission of the instructor. 1.5 credits.Provides a strong foundation for criticalthinking in the area of global business oper-ations. Examines topics primarily in the areaof cross-national business operations thathave managerial applications. Focuses oncross-cultural psychology and developing astrategic framework and capabilities forglobal business research.

International ManagementB50.3184Open only to doctoral candidates or bypermission of the instructor. 1.5 credits.Addresses the managerial issues associatedwith the formation, governance, strategicmanagement, and performance of multi-national corporations. Modes of entry intoforeign markets and hybrid forms of inter-national corporate organizations are alsoaddressed. Emphasizes the integration ofinternational business research with currentdevelopments in related disciplines includ-ing managerial economics, sociology, andstrategic management.

Workshop in InternationalBusiness and EconomicsB50.3350Open only to doctoral candidates or bypermission of the instructor. 3 credits.An advanced, intensive interdisciplinaryworkshop for doctoral students pursuing dis-sertation topics. Students present research inprogress and dissertation proposals. Guestsand faculty members also present originalresearch papers.

Multinational Firm EconomicsB50.3381Open only to doctoral candidates or bypermission of the instructor. 3 credits.Surveys research on the multinational firm.Focuses on economic analysis, but alsoexamines analysis of management and pub-lic policy issues. Topics include the basis forforeign direct investment modes of entry,choice of location, taxation of multinationalfirms, effects on labor, and the relationshipto economic growth.

Dissertation Seminar(International Business)B50.9901Open only to doctoral students with thepermission of the instructor-in-charge. 9 credits per term. Fall and spring.Individual meetings with the dissertationadviser and members of the tentative com-mittee on the dissertation.

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Management and Organizational Behavior

rganizations must be able to compete in environments marked by complexinteractions and rapid change. The

Department of Management and OrganizationalBehavior offers courses and conducts research on how organizations can better manage internal and external interactions and changes. The content ranges from organization-wide topics, such ascompetitive positioning, managing new technologies,and shaping organizational cultures, to the skillsneeded by individual managers, such as negotiating and building commitment.

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All courses emphasize (1) applying relevanttheory to the analysis of complex organiza-tional problems; (2) experiential learning(through cases and exercises); and (3) ageneral management focus. Our main inter-est is in managerial practice, and we regardour primary task as applying relevant theoryin ways that enhance students’ ability todiagnose and manage more effectively com-plex organizational situations.

The department’s faculty have publishedwidely on such diverse subjects as strategicchange, managerial cognition, organ-izational learning, innovation and newtechnologies, knowledge management,

socialization processes, and diversificationand globalization strategies.

Chairman: Richard D. Freedman

Professors: Sally Blount-Lyon, RogerDunbar, Charles J. Fombrun, Richard D.Freedman, Ari Ginsberg, William D. Guth,Elizabeth W. Morrison, David Rogers, ZurShapira, William H. Starbuck

Associate Professors: Raghu Garud,Theresa Lant, Stephen Mezias, Frances J. Milliken

Assistant Professors: Juan Alcacer,Caroline Bartel, Ya-Ru Chen, Wilbur Chung,Michelle Gittelman, Gregory Janicik, Andrew

King, Michael Lenox, Xavier Martin, RachelleSampson, Kimberly Wade-Benzoni, AmyWrzesniewski

Visiting Faculty: Chao Chen

Clinical Faculty: Fernando Alvarez, TerriKurtzberg, Robert B. Lamb

Adjunct Faculty: George Buckley, HelenCarter, Seth Freeman, Neal Goldsmith, RajaKabaliswaran, Mitchell Langbert, AnatLechner, David Liebeskind, MichaelMazzarese

Department Office: Tisch Hall, 40 WestFourth Street, 7th Floor

Electives Corporate VenturingB65.21301.5 credits.Managers in large mature corporationshave become increasingly aware of theimportant role of entrepreneurship inresponding to the competitive challenges ofa fast-changing marketplace. This processof entrepreneurship, referred to as “corpo-rate venturing,” is one that generates andexploits new technologies, products, or busi-nesses under the organizational umbrella ofan established firm. This course seeks toprovide an understanding of this processand the knowledge and skills that are

required to manage organizations so thatinnovations and new businesses are gener-ated and growth is sustained. The courseshould be of interest to those who wish to work as a member of a corporate ven-ture team, as the general manager of a cor-porate venture, or as a member of seniormanagement overseeing the venture withinthe corporation.

New Business PlanningPracticumB65.2326Prerequisite: B01.1302. 3 credits.This practical applications course is

designed to facilitate the start-up process of anew venture. Students learn by working insmall team partnerships to develop a busi-ness plan and start-up scenario for their ownnew business concept. Class sessions, read-ings, invited experts, and meetings with theinstructor are used to provide guidance andevaluation as each team’s plan developsthrough designated milestones. Applicantsmust submit a one-page short form identify-ing their new business concept, indicating itsfeasibility by briefly outlining the “need” forthe product/service; its unique selling benefitor value; market(s) to be served; and the per-ceived strategy, along with the core compe-

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tencies required for competitive advantage.Students who wish to enroll in this courseshould have taken Foundations ofEntrepreneurship and have a new businessconcept they wish to develop.

Managing the GrowingCompanyB65.2327Prerequisites: all required core courses. 3 credits. Fall and spring.This course exposes students to the uniquechallenges of managing the growth of smallbusinesses. It is designed for students whoare interested in understanding the opportu-nities and problems involved in the start-up,management, or operation of their ownbusiness. In addition, the course is alsodesigned for students who are consideringemployment in a smaller firm. The differ-ences between small firms’ and large organi-zations’ management needs, practices, andfinancial resources are examined.

Family Business ManagementB65.23283 credits.The course is directed to students who willenter into the management of family busi-nesses, either their own family’s or someoneelse’s, and students who will do business with family firms or consult to them. Thefocus is on small and mid-size firms in the$10-250 million annual revenue ranges.The course explores the managerial, strate-gic, and behavioral complexities found infamily- owned and -managed companies,including entrepreneurial behavior offounders and entrepreneurship requirementsof successor generations. Through case stud-ies and guest speakers, we consider questionsof ownership, succession, sibling rivalry,attracting and retaining nonfamily talent,and estate planning.

Multinational BusinessManagementB65.2340Prerequisite: B01.1302. 3 credits. Falland spring.Provides an understanding of the cultural,political, competitive, technological, legal,and ethical environment in which multina-tional firms operate. Surveys a range of toolsand techniques of environmental analysisfor use in assessing foreign and global con-ditions, opportunities, and threats. Thenfocuses on multinational corporate strategy,

organization, and management. Examinesbuilding of strategic capabilities, collaborat-ing across boundaries, developing coordina-tion and control, and managing activitiesand tasks, as well as challenges of worldwidefunctional management, geographic sub-sidiary management, and top-level head-quarters management. (This course must betaken by all students comajoring in interna-tional business.)

Managing ChangeB65.2353Prerequisites: all required core courses. 3 credits. Fall and spring.Contemporary business environments con-tain challenges that demand an increasingpace, volume, and complexity of organiza-tional changes. Most organizations, whetherthey are entrepreneurial start-ups or long-established Fortune 500 firms, find that theymust change or wither. This course is gearedtoward deepening students’ understandingof the challenges, the techniques, and theburdens associated with initiating andimplementing major change in an organi-zation. The objective is to prepare managers,or their consultants and advisers, to meet thechallenges of organizational change suc-cessfully. As such, the course is especially use-ful for students who plan careers in manage-ment consulting, general management(whether in line or staff positions), andentrepreneurship or corporate venturing.

Conflict and NegotiationsB65.2358Prerequisite: B01.1302. 3 credits. Falland spring.This course is concerned with the manage-ment of conflicts that arise from differencesin interests such as goals or priorities orcompetition for limited resources. It focuseson negotiation as a primary process for set-tling disputes between individuals and with-in and between organizations. The courseexamines and interrelates the key variablesin a negotiation. These include stakes,power, interdependence, trust, coalitions,communication, the use of time, one’s per-sonal style of negotiation, and the consis-tency of a settlement with the firm’s businessstrategy. Makes extensive use of negotiationsimulations to encourage students to applynegotiation principles and to develop diag-nostic and behavioral skills that increasetheir negotiation repertoire and competence.Near the end of the course, there is an inten-

sive negotiation that continues for six hourson a Friday (or a Saturday for night classesonly). All students must participate in thisnegotiation to receive a grade in the course.

The Global Manager andNegotiatorB65.23603 credits. Fall and spring.Aims to expand awareness, enhance under-standing, and facilitate development of a setof managerial competencies essential for asuccessful career in international business.Focuses on issues involved in working inmultinational settings, managing foreignassignments, and coping with the complexi-ties of cross-cultural negotiation. Examinesleadership, motivation, decision making,communication, power and influence, con-flict management, group dynamics, andstress management in an intercultural con-text. A variety of teaching methods areemployed, including lectures, negotiationexercises, role-playing simulations, video-tapes, computer simulations, and experien-tial exercises. (Elective offering with credittoward international business comajor.)

Analysis of OrganizationsB65.2370Prerequisite: B01.1302. 3 credits. Falland spring.This course develops student skills at diag-nosing organizations and developing pre-scriptions to improve their effectiveness. It isappropriate for those interested in organiza-tional performance from a managerial orexternal perspective (e.g., management con-sultants, investment bankers, and financialanalysts). Examines organizations’ attemptsto adapt as open systems in competitive envi-ronment. We consider the major factorsinfluencing organization design, e.g., strate-gy, environment, and technology. Then weanalyze the major internal processes affect-ing organizational performance, e.g, controlsystems, politics, and conflict. Then we probehow organizations can improve their abilityto adapt in increasingly dynamic environ-ments. The course includes domestic andinternational examples. The main learningmethods are case analyses and a study of theorganizations of the central competitors in an industry or industries that the classchooses. Particular emphasis is placed on organizational-level problems facing senior management.

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Management Consulting:PracticumB65.33063 credits. Fall. For full-time students only.This practicum involves students as “associ-ates” of Stern Management Consulting, apseudo-consulting firm with paying clientsfrom the New York metropolitan area.Students work on an engagement in teamssupervised by faculty “managing partners.”They also meet regularly to participate inworkshops and interactive sessions withpracticing consultants from our advisoryboard. The long-term engagements culmi-nate in mock orals and feedback sessionswith clients.

Competitive AnalysisB65.3328Prerequisites: B01.2310, B01.2311, and all required core courses. 3 credits.Fall and spring.Globalization and the quickening pace oftechnological, demographic, and politicalchanges have produced major shifts in theway firms compete. To prosper in a businessenvironment marked by complex compe-titive dynamics, companies will need to be run by managers who possess finely tuned skills in competitive analysis. To helpdevelop such skills, this course focuses ondeveloping proficiency in (1) evaluating anindustry’s economic prospects; (2) selectingthe scope of competition; (3) acquiringdistinctive resources and capabilities; (4) developing sustainable advantage; (5) predicting and preempting competitors’responses; (6) choosing competitive optionsthat create economic value; and (7) exe-cuting competitive decisions. The course isconcerned with strategic leadership andshould be of interest to those pursuing acareer in strategy consulting.

Foundations ofEntrepreneurshipB65.3335Prerequisites: B01.1306 or equivalent. 3 credits. Fall and spring. Marketingmajors can count this course towardtheir marketing course requirement.This course offers a framework for under-standing the entrepreneurial process andexposes the student to most problems andissues faced by entrepreneurs who start newbusinesses. Case study is the principal teach-ing method, supplemented by lectures, abusiness planning exercise, and guest speak-ers. Major objectives are for students to learnhow to identify and evaluate market oppor-tunities; develop a business concept andmarketing plan; assess and obtain therequired resources; and manage the growthof a new venture. This course can count as amarketing elective and fulfill part of therequirements of the marketing major.However, it can only be counted as either amarketing elective or a management elec-tive, but not both.

Judgment and Negotiation Skillsfor Strategic Decision MakingB65.33513 credits. Spring.Many business decisions, such as developinga new product or investing in an overseasoperation, are made under uncertainty.While there are analytical procedures formaking such decisions, they often depend on the decision maker’s judgment, espe-cially when there is a need to estimate probabilities for uncertain events. However,evidence shows that people often employjudgmental heuristics that may lead to biases. This course attempts to makestudents aware of such biases and developcorrective procedures.

In addition to decision skills, negotiationsskills are often needed to ensure that deci-sions are accepted and implemented. Thiscourse allows students the opportunity todevelop such skills and to understand nego-tiations in a useful analytical framework.Many elements in actual negotiations, suchas goals of different parties and chances forcooperation, may be ambiguous and oftendo not have “right” answers. In such cases,understanding the negotiation process mayprove useful in selecting competitive orcooperative strategies. The course uses exer-cises and simulations to provide experienceand understanding of negotiation. Bothjudgmental and decision skills are then inte-grated and applied to cases of strategicdecision making.

Power and Politics inOrganizationsB65.3366Prerequisite: B01.1302. 3 credits. Spring.This course considers the way politicalprocesses and power structures influencedecisions and choices made within and byorganizations. Analyzes the sources, distrib-ution, and use of influence in relation toresource allocation, organizational changeand performance, management succession,procedural justice, policy formulation, andsocial movements within organizations.Develops skills in diagnosing and usingpower and politics in organizational settings.A basic assumption underlying the course isthat managers need well-developed skills inacquiring and exercising power to be effec-tive. The course is designed to (1) improvestudents’ capacity to diagnose organization-al issues in terms of their political dimen-sions and (2) enhance their effectiveness intheir jobs and careers as a result of thatimproved capacity.

The following courses are designed primarilyfor students enrolled in the doctoral programof the Stern School. The Department ofManagement and Organizational Behavioroffers both core courses and advancedelectives. The content of advanced electivesvaries and will depend on the instructordelivering the course.

Research Methods: IntroductionB65.33013 credits. Fall.

This course presents the philosophy, basicconcepts, and techniques that doctoral stu-dents need to conduct scientific research inthe social sciences. Students discuss theory-building, the scientific method, and alterna-tive concepts of measurement, researchdesign, sampling, and statistical inference.They also discuss questions of objectivity, val-ues, ethics, and politics in scientific research.Primary emphasis is placed on developing asolid conceptualization of the researchprocess, the uses to which research may beput, and its practical implications.

Advanced Course in ResearchMethodsB65.3302This course focuses on advanced topics inresearch design and data analysis. Studentsdesign an empirical study and collect data to test the study’s hypotheses. Data analy-sis techniques such as multiple regressionand simultaneous equations are discussedand practiced.

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Individual and Group Behaviorin Organizational SettingsB65.3371Prerequisite: a prior course in psychologyor sociology. 3 credits. Fall.This course introduces doctoral students toscientific theories of individual and organi-zational behavior. It reviews processes ofperception, judgment, attribution, choice,motivation, and decision making. Sinceorganizational behavior occurs mostly insocial settings, the course introduces thesocial psychological effects on individualbehavior with regard to motivation, perfor-mance, and group processes. Attention isgiven to the effects of social contexts oninformation processing and inference withregard to such topics as performance evalu-ation, job satisfaction, and organizationaljustice. Theories of individual and groupbehavior are applied to topics, such as lead-ership, managerial risk-taking, organiza-tional culture, and change processes.

Introduction to Organizationand StrategyB65.3372Prerequisite: a prior course in psychologyor sociology. 3 credits. Spring.Organizations operate in dynamic environ-ments. This course introduces doctoral stu-dents to the principal theoretical perspectivesand empirical findings used to explain rela-tionships between environments, organiza-tional strategies, designs, and performance.Students are expected to develop expertise inthe analysis of environments, organizations,and strategies from several theoretical

perspectives, such as resource dependencetheory, institutional theory, organizationalecology, and industrial organization eco-nomics. The seminar stresses the competitiveand mutualistic dimensions of environ-ments that propel managers to enact busi-ness, corporate, and collective strategies,structures, processes, and systems to enhancetheir firms’ effectiveness. Both theoreticaland empirical research are examined toillustrate how different theoretical perspec-tives require different empirical researchmethodologies. Although the course empha-sizes the state of the art in theory develop-ment and empirical research, the historicalroots of current research are also examined.

Advanced Research inOrganization BehaviorB65.3381Prerequisite: B65.3371 or permission ofthe instructor. 3 credits. Fall.This seminar provides a forum for studentsand faculty to explore current researchapproaches to the study of individual andgroup behavior in organizational settings.The content of the seminar varies dependingon the particular interests of the faculty andparticipating students.

Advanced Research inOrganization TheoryB65.3387Prerequisite: B65.3372 or permission ofthe instructor. 3 credits. Fall.In this seminar, students and faculty explorecurrent research approaches to the study of organizational structures and organiza-

tion-environment relationships. The contentof the seminar varies depending on theparticular interests of the faculty and partic-ipating students.

Advanced Research in CorporateStrategyB65.3393Prerequisite: B65.3341 or permission ofthe instructor. 3 credits. Spring.This seminar provides a forum for studentsand faculty to explore current researchapproaches to the study of strategic man-agement and business policy. The contentof the seminar varies depending on the par-ticular interests of the faculty and partici-pating students.

DISSERTATION SEMINAR

Dissertation SeminarB65.9900Open only to doctoral students with the permission of the professor in charge.Senior members of the managementstaff. 9 credits per semester. Fall and spring.Individual meeting with the dissertationadviser and members of the tentative readingcommittee on the dissertation.

MANAGEMENT COLLOQUIUMSERIES

Departmental faculty and distinguishedvisitors regularly present reports onresearch in progress or recently completed.Open to Ph.D. candidates and advancedM.B.A. students.

Effective communication is vital for successboth at Stern and in the business world.Management Communication courses em-phasize developing the full range of com-munication strategies required to become asuccessful manager.

These courses develop a level of knowl-edge about communication that managersneed in order to succeed in today’s businessenvironment—how to manage new elec-tronic communication technologies, how toshare information with off-site employees,how to persuade others to accept proposals,

how to select appropriate media, and how tosell products and ideas to a wide range ofaudiences. Management Communicationcourses prepare professionals for the skillsrequired to compete in business today.

Chairman: Richard D. Freedman

Codirector (Graduate) and ClinicalAssociate Professor: Irv Schenkler

Codirector (Undergraduate) andClinical Associate Professor: AlineWolff

Clinical Professor: C. Christine Kelly

Clinical Associate Professors: MichaelJ. Capek, Sana Reynolds

Clinical Visiting Associate Professor:Patricia Cooley

Adjunct Faculty: Susan Becker, CherylFleisher, Lynn Kearney, Susan Mach, SusanMcClive, Roberta McKeon, Katherine Mosby,Bill Page, Celia Seupel, Rick Spreyer, SusanStehlik

Program Office: Tisch Hall, 40 WestFourth Street, Room 202

Management CommunicationCourses

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Communication Careers

All business students will want to takeManagement Communication, B45.2300,regardless of major. The course will funda-mentally change the student’s ability toexplain an idea and persuade an audienceby either written or spoken means. Studentswill find that this course will have applica-tion to a range of careers in the communi-cation field, including the following:

Corporate Communications

Public Relations

Public Information

Management Consulting

Marketing Communications

Strategic Communications Planning

Communication Consulting

Training and Development

Human Resources

Investor Relations

Arts Management

New Media Management Communication courses pro-vide support to students interested inworking with new media, including as-sistance with creating homepages for theWorld Wide Web, E-mail, and computer-

ized slide presentations. The Web site,www.stern.nyu.edu/mc, contains on-lineversions of most course materials for our 3-credit electives, making them accessible tostudents from any location. The site also pro-

vides electronic “chat rooms” for each of ourcourses and useful links to on-line writinglabs and tutorials at other universities.

Strong selling skills are a vital component toso many aspects of business life. From invest-ment banking to advertising, from entrepre-neurship to corporate gamesmanship,knowing the techniques of persuasion can bean invaluable addition to the Stern student’sportfolio of knowledge. In the ISE, studentslearn how to apply these techniques andmake them work. As a result, they completetheir first year of study with a platform ofcommunication capabilities.

During the ISE, students work in teams,attempting to solve strategic issues facing amajor company, based on a case that has

been discussed in their Corporate Strategycourse. The teams are then faced with thetask of communicating their recommenda-tions. By linking the theoretical componentsof Corporate Strategy to a real-time, dead-line-based project proposal, students come tounderstand why ideas, data, and advocacymust all be combined for a professional,persuasive presentation.

The course introduces students to thebasics of communication strategy and per-suasion: audience analysis, communicatorcredibility, message construction, and chan-nel choice. They learn how to field tough

questions, defend their logic, and make acompelling case for their team’s recommen-dations. These skills are critical to any busi-ness career, and while they can be acquiredover time in the work place, the ISE offersstudents the opportunity to hone these skillsunder the guidance of management com-munication faculty. Full-time students gaina competitive edge in their summer intern-ship where such projects are common; part-time students gain further experience andreceive guided feedback as they apply thetechniques of persuasion and presentation.

Integrative Strategy Exercise (ISE)

B45 courses may not be applied to amanagement major.

Intercultural CommunicationB45.21101.5 credits.Communicating effectively across culturalboundaries is a major challenge for multi-national organizations worldwide. Thesuccess of global communication has asignificant impact on an internationalcompany’s profits and competitive edge. This course examines the dynamics ofcommunicating across national borderswith the aim of enhancing analytical andpersonal skills in this subtle and complexarea. It also counts as an InternationalBusiness comajor course.

Management CommunicationB45.2300Prerequisite: satisfactory completion of the writing proficiency requirement. 3 credits.Recommended for all students, this courseprovides intensive development of commu-nication techniques for all business execu-tives. Develops the ability to write effectivelyand to speak persuasively. Stresses strategicimplications of communication for man-agers. Students test theory and practice andexamine problems raised by business casesand readings. Students learn how to prepareand deliver effective business presentations;design group and independent projects thatdevelop communication strategies forselected audiences; understand the rolesplayed by effective team leaders; manage

communication within a multiculturalenvironment; and work with new communi-cation technologies. Group discussions,workshops, and written and oral assign-ments develop and refine writing and speak-ing. Writing receives feedback; oral presenta-tions are videotaped and individuallyreviewed. Topics include achieving credibil-ity as a speaker, analyzing the audience,exploring leadership styles, and organizingmaterial coherently and persuasively.

Management Communication:Alternative DeliveryB45.2300.0APrerequisite: satisfactory completion of the writing proficiency requirement. 3 credits.This course integrates strategies for manag-ing oral and written communication using

Course Descriptions

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the case method, with intensive developmentof communication techniques. Introducesconcepts of electronically mediated, persua-sive, cross-cultural, and managerial com-munication in a number of business set-tings. Students receive individual feedbackon written and oral presentations.

Sales and CommunicationStrategiesB45.2301Prerequisite: satisfactory completion of the writing proficiency requirement.3 credits.Recommended for students who plan toenter management consulting, humanresource management, and training anddevelopment. Supports growth of all man-agement and leadership skills. Emphasizesthe interpersonal communication requiredto work effectively in organizations every day.The success or failure of managers oftendepends on their ability to work with othersin developing options that will create com-mitment and agreement. Students analyzecommunication strategies and develop aframework for idea generation, influencing,and mediation. Individual and group oralpresentations, coaching employee perfor-mance, negotiation, and media interviews.Topics include persuasion, active listening,group decision making, interpersonal com-

munication, and conflict resolution.Extensive coaching and feedback; video-taped evaluation and review.

Media and ManagementB45.2302Prerequisite: satisfactory completion of the writing proficiency requirement. 3 credits.The course examines the relationshipbetween business and the media. Startingwith an overview of corporate communica-tion, students devise strategies and test theo-ries of managing internal and external com-munication. The changing role of media inthe Internet age and its affect on constituen-cies is examined. Students develop a perspec-tive for communication with various con-stituencies, especially employees, sharehold-ers, and the media. In this way, they deter-mine how communication strategy supportsorganizational strategy. The course featuresguest speakers from the fields of journalism,corporate communication, and communi-cation consulting. Course work includesreadings, case analyses, and oral and writtenreports. Selected topics include issueresponse and the Internet; managing outsidepressure; communicating and managing incrises. The course is recommended as one ofthe management consulting track courses.

Business WritingB00.2099Pass/Fail.Helps students improve their writing.Required for those who do not achieve a score of 4.0 or above on the writing sectionof the GMAT and recommended for thosewho wish to refine their skills. Focuses on communication strategy, persuasiontechniques, information organization,audience analysis, and the writing process.Other topics include effective style andexpression, sentence structure, and businessvocabulary. Assignments include letters,memos, reports, and case analyses. The classis conducted as a communication workshop.Students analyze their writing strengths andweaknesses and participate in one-on-oneconferences and tutorials. Class size is lim-ited to 15 students.

Business Writing forInternational StudentsB00.2055Pass/Fail.Covers the same material as BusinessWriting, B00.2099, but is especially designedfor international students. Approaches writ-ing and oral communication through prob-lems of language and emphasizes howAmerican business culture influences theform and content of writing.

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Marketing

arketing is the proactive part of anyorganization. At the broadest level, it isresponsible for determining consumer

needs, translating those needs into products and services the firm can profitably offer, and effectivelydelivering and promoting those offerings to themarketplace. Marketing’s activities are both strategicand tactical. At the strategic level, it bears primaryresponsibility for determining the product/marketchoices the firm makes based on analyses of demand,competition, economics, and the firm’s unique abilityto secure a competitively defensible position in themarketplace. At the tactical level, it plans for andimplements such activities as marketing research,distribution, pricing, advertising, and sales promotion, which ensure the day-to-day success of the firm and its offerings in the marketplace.

M

The Department of Marketing curriculumprepares students for careers in productmanagement, consulting, marketing man-agement, and advertising. It is also trainingfor careers in allied fields, such as finance,international business, and information sys-tems. Furthermore, it prepares students toperform marketing functions in a widerange of industries, including financialservices and entertainment industries.Marketing’s perspective involves problem-solving approaches for matching the market

mix (products, services, distribution, adver-tising, and pricing) to the demand of marketsegments within the context of competitors,intermediaries, facilitators, mass media, and government.

Chairman: Joel H. Steckel

Professors: Henry Assael, BruceBuchanan, C. Samuel Craig, John Czepiel,Susan Douglas, Avijit Ghosh, Jacob Jacoby,Durairaj Maheswaran, Robert Shoemaker,Joel Steckel

Associate Professors: Kim Corfman,Peter Golder, Eric Greenleaf, GeetaMenon, Vicki Morwitz

Assistant Professors: Yuxin Chen,Skander Essegaier, K. Sudhir, Tom Meyvis

Clinical Associate Professors: MichaelDarling, Al Lieberman


Courses inMarketing

All courses in marketing build on thefoundation established by the core course,Marketing Concepts: Delivering Value toCustomers and Business (B01.2310). Whilethe only requirement for the marketingmajor is to take four courses beyond the corecourse, all majors are urged to take Intro-duction to Marketing Research (B70.2327).

The course offerings are grouped ac-cording to whether they are managerial or analytical in their focus. A combination of managerial and analytical courses

is excellent career preparation. The listingalso includes six minicourses (1.5 credits)that have very strong managerial andindustry focus.

Marketing Concepts: DeliveringValue to Customers andBusinessesB01.2310Prerequisites: B01.1303 and B01.1305. 3 credits.For description, see page 15.

ANALYTICAL MARKETINGCOURSES

Craft and Commerce of CinemaB70.2313Prerequisite: B01.2310. 3 credits.This specialized EMT course is designed toprovide students with a framework forunderstanding the dynamics of the filmindustry, including the complete processfrom crafting the idea for a film script; hir-ing or becoming a producer; financing the

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project; selling it to a studio or independentproduction company; building a team; pro-duction elements; and postproduction.Postproduction includes music acquisition,marketing, distribution, and exhibition—international and domestic. The courseincludes learning about distribution andexhibition, marketing and building audi-ence awareness, research applications, inter-national licensing, and preparation for acareer in the industry. It is offered duringspring break and involves a trip to the WestCoast. In addition to tuition, students have topay travel and living expenses.

Introduction to MarketingResearchB70.2327Prerequisites: B01.2310 and B01.1305or equivalent. 3 credits. Fall and spring.Emphasizes the organization, processes, andapplications of marketing research in mak-ing marketing decisions. Topics include stepsin marketing research, questionnaire con-struction, experimental design, samplingmethods, tests of hypotheses, data analysis,evaluation of research costs to resultsachieved, and applications of research tomarketing decision areas. Requires aresearch project involving data collectionand analysis.

Consumer BehaviorB70.2347Prerequisite: B01.2310 or equivalent. 3 credits. Fall and spring.Studies the consumer as a decision maker.Examines social and psychological influ-ences on purchasing decisions, emphasizingtheir implications for marketing strategy.Topics include the consumer as a decisionmaker; motivation concepts and their effecton behavior; images, attitudes, and theirmeasurement; social and cultural influenceson purchasing behavior; models of con-sumer behavior; and applications to adver-tising, product, and segmentation strategies.Selected cases and projects.

Analysis and Management ofPricing and Sales PromotionDecisionsB70.2352Prerequisites: B01.2310 and B01.1305. 3 credits. Spring.Seeks to provide the student with the analyticbackground necessary for making effective

brand management decisions in today’sinformation-rich environment. Decisionsrelated to prices and sales promotion areemphasized. The course stresses the practicalapplication of recent conceptual andmethodological developments, such as scan-ner data, controlled marketing experiments,and mathematical and behavioral models.Focuses on extensive reviews of past empiri-cal research cases, and the development andapplication of simple models and concepts.

Analytic Marketing forManagement ConsultingB70.2354Prerequisites: B01.2310 and B01.1305or equivalent. 3 credits. Spring.In problem solving, tools are better thananswers. Give a man a chair, and he can sitdown; give him a toolbox, and he can notonly build a chair, but a bed and a house tolive in, as well. With this as a premise, thiscourse emphasizes many of the analyticmarketing tools commonly used in themanagement consulting industry, many ofthem developed by the industry. The focus ofthe course is on using the analytic market-ing toolbox (in the form of state-of-the-artsoftware) to structure and solve problems,keeping in mind that the purpose of the toolsis to produce qualitative insights from quan-titative analyses. Problems addressed includenew product forecasting, assessing marketpotential, uncovering competitive structure,market segmentation, product positioning,and pricing. Tools introduced includeconjoint analysis, voice-of-the-customeranalysis, diffusion models, and brand-switching analyses.

MANAGERIAL MARKETINGCOURSES

Advertising ManagementB70.2309Prerequisite: B01.2310 or equivalent. 3 credits. Fall and spring.Develops a framework for managing theadvertising function. Surveys advertising asit relates to the advertiser, the agency, and themedia. Considers the creative approach,strategy, and tactics as related to the totalmarketing program. Covers the selection oftarget markets, establishing advertisingobjectives, budgeting, media planning, andthe evaluation of advertising effectiveness.

Marketing of Financial ServicesB70.2321Prerequisite: B01.2310 or equivalent(can be taken concurrently). 3 credits.Spring. Not open to students who havetaken B70.2121.Explores the application of basic principlesof marketing management to the marketingactivities of financial service enterprises,such as stock exchange firms, banks, invest-ment companies, and insurance companies.Considers the new competitive environmentresulting from deregulation. Examines themarketing strategies of financial institu-tions, especially emphasizing innovation innew product services. Attention is paid toresearch, planning, and strategic decisionmaking and to preparing marketing plansfor a financial service.

Entertainment, Media, andTechnology: Institutions,Economics, and StrategyB70.2341Prerequisite: B01.2310 or equivalent. 3credits.This new course serves as a foundation forthose interested in Stern’s Entertainment,Media, and Technology (EMT). Studentswho intend to have a concentration in EMTshould take this course first. The course pro-vides a framework for understanding the keymarketing, economic, and strategic issuesfacing organizations in the entertainmentindustry. Covers key sectors of the entertain-ment industry focusing on film, television,home video, cable, music, publishing, sports,and new media. Develops an understandingof the underlying financial and economicissues that impact performance such asintellectual property, switching costs, infor-mation asymmetry, economies of scale andscope, and network externalities. Strategicand managerial issues are addressed interms of appropriate strategies for shapingand evolving the media and entertainmentindustries, as well as responding to develop-ments in technology. The course utilizes lec-tures, case studies, and guest speakers.

Advanced Marketing Planningfor Strategic AdvantageB70.2350Prerequisites: B01.2310 (Marketing:Delivering Value to Customers andBusiness), and at least one of thefollowing: B65.3328 (Competitive

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Analysis), B65.2326 (New BusinessPlanning Practicum), B70.2360(Competitive Marketing Strategy),B70.2365 (Brand Planning for Newand Existing Products). 3 credits.This project-based, integrative, capstonemarketing course provides the opportunity towork intensively in small teams to developand defend a marketing plan for a specificbrand. Students use the skills they havedeveloped in their other courses to (1) assessindustry attractiveness and potential forcompetitive advantage; (2) develop strategiesfor achieving sustainable competitive advan-tage in a product category; (3) design a mar-keting plan to facilitate the implementationof the recommended strategy; and (4) per-suasively communicate management’sstrategic vision and strategies for the brandto internal and external stakeholders.

To accomplish these goals, students refinetheir competence in the following areas:analysis of the industry, competitors, cus-tomers, and company to identify opportuni-ties and constraints; use of the situationanalysis to identify strategic alternatives; anddevelopment of a detailed marketing plan.The great majority of the class time is de-voted to presentations and critiques. Studentswork in groups between class meetings usingWeb-based collaborative tools, and, if theywish, in-person meetings. While students arenot required to meet in person other than toattend class, they must do all work for thecourse in groups of five to six students.

Assembling an effective, multitalentedteam is the first assignment. Each groupthen develops a plan of action for the courseproject; selects an industry and brand; con-ducts the required analysis; prepares andpresents interim reports; prepares a finalreport; and makes a final formal presenta-tion at the end of the semester. The final pre-sentations are intended to pull togethereverything the group has done and learned.The group’s grade is based almost exclu-sively on what happens during the day of thefinal presentation.

Competitive Marketing StrategyB70.2360Prerequisite: B01.2310 or equivalent. 3 credits. Fall and spring. Not open tostudents who have taken B01.1101.Focuses on what marketing managers andexecutives need to know in order to create

strategies that gain competitive advantagefor products and businesses. It does this bygiving students a deep understanding of thelaws of pure strategy as applied to the com-petitive game of economic exchange. Thecourse examines the ideas of strategy andcompetitive advantage in economic compe-tition. It considers the sources and measure-ment of value in product offerings as well asthe roles of technology and operations increating value and competitive advantage.Examines the ways that technological,social, and environmental changes coupledwith competitive actions make the game adynamic one. Finally, it establishes a frame-work to use planning and strategizing tech-niques to create, plan, and evaluate strategy.

Competitive Strategy in theMarketplaceB70.2361Prerequisites, B01.1101 and B01.2310.3 creditsThis is a rigorous advanced course in com-petitive strategy set at the level of the businessas it faces competitors at the product marketlevel. In structure, the first half of the courseconsists of lectures, the second half of formalcase presentations recommending strategicactions by student teams to counterpartteams representing senior managers respon-sible for approving their recommendation.Topics covered include both the process andcontent of strategic action and interaction;strategic models; brands as a source of com-petitive advantage; methods for comparingcompetitive offers and strategies; scenarioanalysis; competitive signaling; and compet-itive intelligence. The course is an advancedversion of Competitive Marketing Strategyfor students who have taken BusinessStrategy Analysis and Marketing: DeliveringValue to Customers and Businesses.

Brand Planning for New andExisting ProductsB70.2365Prerequisite: B01.2310 or equivalent. 3 credits. Fall and spring.This course is designed to be of immediatepractical value to students interested inbrand management of new and existingproducts. Focuses on the application ofmarketing concepts, principles, and tools tothe development of operating brand plans.Covers the collection, analysis, and inter-

pretation of information required to assessmarket opportunity and competitive threatin a product category, and the developmentof marketing objectives, strategies, andtactical action programs using that informa-tion. Emphasis is also placed on issues ofparticular importance to new product plan-ning, such as concept generation andscreening, perceptual mapping, preferenceanalysis, product testing and test marketing,and risk assessment.

International MarketingManagementB70.2385Prerequisite: B01.2310 or equivalent. 3 credits. Fall and spring.Examines the development of internationalmarketing programs, from determiningobjectives and evaluating internationalmarket opportunities through coordinatingstrategies in world markets. Emphasizesapplication of marketing principles in themultinational environment.

Marketing High-Tech ProductsB70.2390Prerequisite: B01.2310 or equivalent. 3 credits.Increasingly markets are affected by technol-ogy. Often, these markets are very dynamicand are characterized by uncertainty. Thesechallenging environments require a newmind-set from managers. This coursefocuses on the decision problems faced bymanagers in creating, developing, and com-mercializing and managing technology-based products. The objective is to providethe conceptual frameworks and analyticaltools required for managing fast-paced tech-nology business. Uses a combination of texts,articles, lectures, discussions, and cases.

Electronic CommerceB55.3338Corequisite: B01.2119. 3 credits.The Internet and the emerging “informationsuperhighway” are dramatically altering theway we transact goods and services. Thiscourse examines how new informationtechnologies and networks will affect theexchange of goods and services between buy-ers and sellers in the twenty-first century.How will advertising, purchasing, customerservice, and trade settlement processeschange? What are the economics of different

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electronic commerce models for theseprocesses? The course evaluates key corpo-rate strategies and initiatives in electroniccommerce and the enabling network anduser interface technologies that are redefin-

ing business as we know it. These technolo-gies include the Internet, digital media, elec-tronic payments, etc. Finally, the coursecombines the study of the economic andbusiness strategy principles of e-business

with an applied look at specific companiesand industries, such as on-line financialservices, on-line retailing, and electronicpublishing.

Minicourses Globalization of theEntertainment IndustryB70.2112Prerequisite: B01.2310 or equivalent. 1.5 credits. Fall.Provides students with a framework forunderstanding the dimensions of globaliza-tion achieved by the entertainment andmedia companies and their systems forexpansion worldwide. Analyzes the strategyof several of the leading multinational enter-tainment conglomerates and the develop-ment of various leisure-time businesseswithin the world economic zones, includingEurope, Pacific Rim, Latin America, MiddleEast, and North America. Compares the localentertainment business with products ex-ported by multinationals. Examines emerg-ing markets, including Eastern Europe,South Africa, and Russia. Selectively coversmovies, home video, network broadcast intelevision and radio, music, cable, live enter-tainment, and theme parks as they havedeveloped in major countries worldwide.Uses case studies and projects.

Professional Management:Entertainment and MediaB70.2113Prerequisite: B01.2310 or equivalent. 1.5 credits. Spring.Provides students with an opportunity tolearn about the specialized services providedby professional managers and advisers, bothinside and outside entertainment and mediacompanies. Examines the nature of the ser-vices provided, how these services are beingimplemented through collaboration withindustry creative and business executives,and how to evaluate the services. Lecturesand informal discussions with entertain-ment and media lawyers, accountants, talent

and literary agents, and publicity and adver-tising specialists. The course examines therange of skills required to complete a project,finance a product, or negotiate sponsorshipssuccessfully in movies, home video, sports,cable, music, theatre, new media, and pub-lishing. Cases and projects are used.

The Business of SportsMarketingB70.2114Prerequisite: B01.2310 or equivalent. 1.5 credits. Spring.The business of sports has become a per-sistent and integral part of our economy,specifically in the multimedia and entertain-ment arena. This is a specialized course forthe M.B.A. student interested in expandingknowledge of the sports industry as a busi-ness and as a world economic force. It pro-vides students with a framework forunderstanding the scope of the sports busi-ness across the various leagues, the venues,the athletes, and their relationship to inter-nal and external factors, the infrastructure,the professional support system, and themarketing applications that drive thiscomplex and growing multibillion dollarindustry. Through lectures by leading exec-utives within the sports industry and pro-fessionals who provide the support system,along with selected readings, videos and casehistories, the student will understand howthe various parts of this complex processinterface and interact.

The Business of Producing:Entrepreneurship inEntertainment and MediaB70.21161.5 credits.The course is designed to provide studentswith a framework for understanding thedynamics of producing a finished creativeproduct in the entertainment and mediaindustries. Covers the process of feature pro-duction from the initial concept of the story,through script development to completion ofthe project. Explores all the facets of the pro-duction process, including script selection,finance, budgeting, timetable development,team building, talent selection, contract andunion negotiation, regulation, and technol-ogy. Guest speakers include producers onindependent movies, network TV, cable, syn-dicated TV, radio, and TV commercials.

Strategy and Entrepreneurshipin the Media and EntertainmentIndustryB70.21171.5 credits.From digital distribution to broadbandInternet access, rapid and exciting changesare driving fundamental shifts and realign-ments in the media and entertainmentindustry. These shifts are creating unparal-leled opportunities and risks for current andprospective media players. In some cases newentrants are seizing the opportunity to enternew industries and markets, while in others,established players may be better positionedto gain share. The course examines theseissues as they apply to motion pictures,television, music, and publishing. TheInternet is addressed both as an influence on traditional media sectors and as a sector on its own.

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Seminars in Advanced Study

Special Research Topics in MarketingB70.43723 credits.An extensive literature review of two researchtopics identified by the instructor. Studentswrite papers that review the relevant litera-ture and develop a research design todescribe data sources, hypotheses, andresearch methodology. A pilot study may beappropriate in some cases. General areasinclude consumer choice models, diffusionof innovations, cross-national market struc-tures, information processing models, loca-tional analysis, attitude theory, andapplications of quantitative methodologiesand models.

Research ImplementationB70.43743 credits. Spring.Students define and investigate a researchinterest and complete a publishable paper.Students define the problem, formulatehypotheses, develop a research methodologyto test hypotheses, specify an analyticaldesign, and propose possible implications of the research.

Quantitative Applications inMarketing IB70.43913 credits. Spring.This course acquaints students with the stateof the art in mathematical marketing mod-els. The focus is on models of consumer and

market behavior. In particular, utility theory,discrete choice models, stochastic models,multidimensional scaling, and hierarchicaldecision making are studied. These modelsare examined in the context of how con-sumers and the market react to marketingstimuli. The readings are drawn from lead-ing marketing journals.

Quantitative Applications inMarketing IIB70.43923 credits. Fall.Acquaints students with the state of the art inmathematical marketing models. The focusis on managerial models of advertising allo-cations, channel design, sales force alloca-tion, sales promotion, pricing, productdesign, test markets, and competitive posi-tioning. The readings are mainly drawnfrom leading marketing journals. Studentsdevelop their own models and papers on atopic of interest.

Behavioral Applications inMarketing IB70.43813 credits. Spring.This course is designed to provide a strongfoundation for critical thinking in the areaof consumer behavior. It examines topicsprimarily in the area of social psychologythat have marketing applications. Theprimary focus is on how consumers processand integrate information such as adver-tising to form or change attitudes. The goal

of this course is not only to impart knowl-edge about a body of research but also tohelp the individual develop his or her owninterests and preferences in consumerbehavior-related issues.

Behavioral Applications inMarketing IIB70.43823 credits. Fall.The first part of this course covers communi-cation and public policy issues in consumerbehavior. It examines recent theory andresearch bearing on how communicationsand situational factors affect consumerbehavior. In the process, students alsobecome familiar with some related publicpolicy issues, including deceptive and corrective advertising, and trademark-related matters.

The second part of the course introducesstudents to behavioral decision research.Topics covered include judgment underuncertainty, risk taking, and conflictingvalues.

Ph.D. Dissertation Seminar(Marketing)B70.9901-9918Open only to Ph.D. candidates. Staff. 1 to 18 credits.Individual meetings with the dissertationadviser and members of the dissertationcommittee.

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Operations Management: A Multidisciplinary Program

irtually every sector of the economy hasbeen shaken by revolutionary changes inthe ways firms provide customers with

goods and services. Effectively managing operationsenables firms to gain a competitive advantage bycreating cost leadership, quality superiority, flexibleresponse to customer needs, and getting products andservices to market quickly. Our mission is to equip21st century managers with the ability and analyticalskills to lead and manage complex and dynamicoperating systems.

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Our faculty is known for cutting-edgeresearch on critical emerging operations andstrategy issues. This research is reflected notonly in the foundation core course, but alsoin the six advanced electives offered. We area multidisciplinary group with expertise inmass customization, business processdesign, service operations, value chain man-agement, environmental management,quality, distribution channel management,risk analysis, manufacturing systems design,and global operations strategy.

We consult and conduct research on real-world problems in a variety of industries andgovernmental agencies. These include bank-ing, automobiles, telecommunications,electronics, machine tools, cosmetics, chem-icals, pollution control, waste management,consumer goods, airlines, health care, steel,retailing, computers, utilities, and NASA.

We emphasize learning through expe-riential exercises, real-world cases, guestspeakers, field visits, and hands-on fieldprojects. We constantly stress the rela-tionships between analytic and strategicperspectives.

Our business students envision them-selves working in the fields of finance,accounting, marketing, information sys-tems, product design, or human resources.All of these areas are closely involved with theproduction and distribution of goods andservices, and the more managers know

about the system that produces the firm’sproduct, the better they are able to design,market, finance, or manage the activities ofthe organization.

Working knowledge of today’s key opera-tions issues provides the ability and skills tobuild successful careers and contribute to thefirm in many fields. As firms restructure inresponse to global challenges, ample oppor-tunities exist for managers in every field toexcel by analyzing and improving businessoperations. For example, an operations con-sultant or manager would acquire the skillsnecessary to undertake business processimprovements, total quality managementinitiatives, and customer service improve-ments. A financial analyst or managementconsultant would be in a better position toevaluate a firm’s strengths, weaknesses, andvaluation by understanding how operationsaffect the firm’s competitive position andlong-term cash flow. A marketing manager,who understands operations would be betterpositioned to take multiple, simultaneousproduct development projects from concep-tion through delivery, on time and onbudget. This would allow firms to bringproducts to market more quickly, cheaply,and with better quality. A chief informationofficer or logistics director who understandsoperations would be in a better position todesign and implement state-of-the-art man-ufacturing and service delivery systems.

If you are interested in an OperationsManagement (OM) major or would likemore information, visit the OM departmentoffices, Tisch Hall, Room 700 or our Web siteat www.stern.nyu.edu/om. You can alsocall (212) 998-0280 or e-mail us [email protected], and make an appoint-ment to speak with a faculty representative.

Chairman: Michael PinedoProfessors: Manfred Padberg, MichaelPinedo, Eitan ZemelAssociate Professors: Ravi Anupindi,Michael Moses, Praveen Nayyar, SridharSeshadri, Harry Chernoff (Visiting)Assistant Professors: Mor Armony,Vishal Gaur, Andrew King, Christopher Tucci, David Juran (Visiting)Adjunct Associate Professor: FredSilvermanAdjunct Assistant Professor: VipulAgrawal

DEPARTMENT CORE COURSECompetitive Advantage from Operations

ADVANCED DEPARTMENTCOURSESOperations StrategySupply Chain ManagementService Operations and StrategyTechnological Innovation and New ProductDevelopment

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Majors and Nonmajors in Operations Management

The Department of Operations Managementat NYU, Stern School of Business, has beenupgraded to full department status and reg-istered as a full major program by the NewYork State Education Department. We havedeveloped a program that allows students toemphasize operations as a major field. Thecurriculum has been designed to provide anunderstanding of how effective managementof the operations function of a business cre-ates competitive advantage for the firm.

COURSE OFFERINGS ANDMAJOR REQUIREMENTS

A major in operations management requirescompleting the first-year core course andchoosing four additional advanced coursesfrom the list of advanced departmentcourses.

DEPARTMENT CORE COURSE

Competitive Advantage fromOperationsB01.21141.5 credits.

This minicourse serves as an introduction toOperations Management. We approach thediscipline from the perspective of the gener-al manager, rather than the functional spe-cialist. The coverage is intense and veryselective, concentrating on a small list ofpowerful themes that have emerged as thecentral building blocks of world-class orga-nizations. The course also provides tools andconcepts from operations management thathave proven extremely useful over the years.The topics discussed are equally relevant inthe manufacturing and service sectors.

Managing for QualityB60.23103 credits.This course introduces the basic principlesand techniques of managing for quality.Students learn the most important principlesand tools by which organizations createvalue for their customers, including qualitymeasurement and assessment, quality plan-ning, quality control, quality improvement,and quality strategy. Students learn to

• Understand the historical development of modern quality methods, including the unrivalled contributions of New YorkUniversity to this field.

• Analyze systems with respect to quality,using such tools as Six Sigma, Paretoanalysis, statistical process control, qualityfunction deployment, reliability analysis,and design of experiments.

• Apply different philosophies andapproaches to quality intelligently,including those of Deming, Hackman and Oldham, Ishikawa, Juran, Shewhart,and Taguchi.

• Make use of the Malcolm BaldrigeNational Quality Award criteria, as well as those of other quality examination,certification, and evaluation tools.

The focus is on management planning anddecision making, not advanced statisticalinference. This course is aimed at M.B.A. stu-dents who have already completed the corerequirements in operations, marketing, and

management. The emphasis is on methodswith wide application across diverse indus-tries and organizations, including recentdevelopments in information technologyand electronic commerce.

Operations Consulting:Resource ManagementB60.21271.5 credits.This course has been designed to exploreadvanced scheduling problems and schedul-ing approaches and techniques that havebeen developed in practice. The main objec-tives are to (1) improve student skills inadvanced scheduling problems and (2)understand the different schedulingapproaches and techniques that have beenimplemented in practice. The first part of thecourse describes a number of standard tech-niques for modeling typical schedulingproblems that occur in practice. The prob-lems considered are project scheduling,resource scheduling, workforce scheduling,and reservation systems used in services. Aspecial computer-based modeling package isutilized. The second part of the coursedescribes a number of standard and genericsolution techniques for dealing with all theseproblems. The last part of the coursedescribes how to implement the solutiontechnique in an information system frame-work. Several firms that have implementedthese techniques make in-class presentationsof their triumphs and tragedies along the

road to successful implementation. Thesestudies are particularly useful for studentswho look forward to careers where the actu-al implementation of models in an impor-tant job component.

Supply Chain Management(Business Logistics)B60.23063 credits.The function of supply chain managementis to design and manage the flow of materi-al and information, starting from the rawmaterials until finished goods reach cus-tomers. Typically, logistics-related costsaccount for 20 to 25 percent of firms’ totalcosts. On the revenue side, the supply chaindecisions have a direct impact on marketpenetration and customer service. With theglobalization of the economy and advancesin information technology, supply chaindesign and coordination have becomeimportant tools for gaining competitiveadvantage. Therefore, the objectives of thecourse are to (1) develop an understandingof individual components of the supplychain (such as order management, trans-portation, network design, distributionchannel management, after-sales service,and customer service strategy) and theirinterrelationships with other functions offirms, such as marketing, manufacturing,and accounting; (2) impart analytical andproblem-solving skills necessary to developsolutions for a variety of logistics problems;

Advanced Department Courses

Operations Consulting: Design of OperationsOperations Consulting: ResourceManagement

Decision ModelsEnvironmental Assessment Managementand Strategy

Managing for Quality Operations inFinancial Services

(3) understand the complexity of interfirmand intrafirm coordination in implement-ing programs such as “quick response” and “vendor managed inventories;” and (4) develop the ability to design logisticssystems and formulate integrated supplychain strategy, so that all components arenot only internally synchronized but alsotuned to fit corporate strategy, competitiverealities and market needs.

Operations Consulting: Designof OperationsB60.23073 credits.Enhancing the effectiveness and productivityof operations is a major goal of most organi-zations. Designing the operations of a firmwill be critical to achieving this goal. Thiscourse aims to develop an understanding ofthe components that make up an integratedoperating system and to impart modelingskills for understanding the design tradeoffs.The objectives of the course are

• To develop skills for designing andimproving operations.

• To demonstrate the wide applicability of modeling methodology to different func-tional areas, with emphasis on manufactur-ing and service operations.

• To provide insights into actual businesspractices and outline the scope for applyingthe modeling and design ideas developed inthis course.

• To develop optimization and simula-tion modeling skills.

Decision Models B60.23503 credits.This course introduces the basic principlesand techniques of applied mathematicalmodeling for managerial decision making.Students learn to use some of the moreimportant analytic methods (e.g., spread-sheet modeling, optimization, Monte Carlosimulation) to recognize their assumptionsand limitations and to employ them in deci-sion making. Students learn to

• Develop mathematical models that can beused to improve decision making within anorganization.

• Sharpen their ability to structure problemsand to perform logical analyses.

• Translate descriptions of decision prob-lems into formal models and investigatethose models in an organized fashion.

• Identify settings in which models can beused effectively, and apply modeling con-cepts in practical situations.

• Strengthen their computer skills, focusingon how to use the computer to support deci-sion making.

The emphasis is on model formulation andinterpretation of results, not on mathemati-cal theory. This course is aimed at M.B.A. stu-dents with little prior exposure to modelingand quantitative analysis, but it is appropri-ate for all students who wish to strengthentheir quantitative skills. The emphasis is onmodels that are widely used in diverse indus-tries and functional areas, includingfinance, operations, and marketing.

Operations StrategyB60.33553 credits.There is an increasing awareness that opera-tions should contribute to the global com-petitive stance of a business and not merelybe a place where the firm’s products orservices are produced. This can be done bycontributing distinctive competence or capa-bility to the business, and continuallyimproving the products and process of thebusiness. In the department core course,Competitive Advantage from OperationsB01.2114, students study the basic aspects ofhow firms produce their products and ser-vices to gain a competitive advantage, andtake a tactical or short-term look at opera-tions. This course, Operations Management,is a natural follow-up to the core course.Students examine the strategic and long-term policies of the firm, and learn how theoperations strategies and policies are devel-oped to be consistent with corporate andoverall business strategies. To do this effec-tively, students examine, through case stud-ies, how firms’ operations play an importantrole in building and shaping their competi-tive posture. This course helps students to (1) recognize the strategic and policy impli-cations that can be gained from managingoperations; (2) develop a framework for allo-cating resources and managing the opera-tions function in ways that distinguish firmsfrom their competitors; (3) analyze, develop,and formulate operations strategies toexploit competitive opportunities; (4) visual-

ize how operations strategies can and mustbe linked to overall business strategies, aswell as the financial and marketing strate-gies; and (5) highlight effective examplesinvolving continuous improvement andimplementation of operations strategies.

Technological Innovation andNew Product DevelopmentB60.33563 credits.Technological innovation and new productdevelopment are critically important to thecreation of business opportunities and suste-nance of wealth. This course offers perspec-tives and frameworks that seek to understandtechnological innovation and NPD at differ-ent levels of analysis, including the firm,industry, and national levels. It addressesissues pertaining to the discovery, devel-opment, and diffusion of technological ad-vances. For example, we attempt tounderstand the innovation process in bothstart-up and established firms, and whenestablished firms have an easier (or moredifficult) time bringing a new product tomarket and appropriating profits from it. Wealso provide frameworks for assessing newtechnological and business opportunities.Students are expected to analyze and evalu-ate technological opportunities using theframeworks and techniques presented in thecourse. The course is complementary toother course offerings at the Stern Schooland builds on the emerging interest in tech-nology, innovation, and change within themanagement department, the operationsmanagement department, the Stern School,and the outside business world. Most stu-dents who take the course have careerinterests in consulting (operations or man-agement), general management, entre-preneurship, technology/new media, ormarketing, but students from all disciplinesare welcome.

Service Operations and StrategyB60.33573 credits.This course is designed to prepare students to manage service businesses and/or serviceoperations in manufacturing firms. Theobjective is to focus attention on someunique aspects of service businesses andrelate these aspects to service operations andstrategy. For example, some of the issues thiscourse covers include the following:

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• What impact does intangibility have oncorporate and business strategy and opera-tions in service businesses?

• What is the impact of simultaneous pro-duction and consumption of services on howservice delivery systems are designed andmanaged?

• What impact do customers have on servicequality and productivity of service firms?

• What unique organizational designs areneeded to manage a service business?

Consistent with the need to emphasize anintegrative multidisciplinary perspective onservice operations and strategy, students areasked to undertake a project assignment todesign a complete service business, startingfrom idea to incorporation.

Operations in FinancialServicesB60.33603 creditsThis course is designed to prepare students to structure, organize, and manage opera-tions in financial services firms, such asretail and investment banks, brokeragehouses, and insurance companies. Topicscovered include the following:

• Strategic issues: product selection, processdesign, cross-selling, service strategy.

• Design of distribution channels: theinteractions and synergies between thedifferent distribution channels (branchoffices, salespeople, call centers, ATMnetworks, on-line banking, etc.), channelcoordination.

• Design of trading processes: capacity andproduct mix.

• Assessment of operational risk: statisticalanalysis of operational risk breakdowns,characteristics of effective controls, casestudies of major operational breakdowns.

• Impact of information technology onoperations: dependencies and interactionsbetween operations and informationtechnology.

Environmental AssessmentManagement and StrategyB60.33793 credits.Modern firms must manage their impact onthe natural environment to maintain accessto valuable resources and to avoid conflictwith communities or government. Modernstrategic consultancies now have large and

growing practices in environmental man-agement. This course teaches students howto analyze and manage environmentalissues in business. Students learn how tointegrate environmental issues into opera-tional and financial decisions; how to devel-op business strategies that minimize bothenvironmental and financial risk; and howfirms can benefit from corporate greening.

The course emphasizes cases, computersimulations, and negotiation exercises toteach game theory, strategic planning, andother management skills. It employs analytic and simulation models to explorecommon property resource problems, toexplore industrial and environmentalchange, and to predict the impact of govern-mental regulation.

Finally, the course covers unresolvedissues in environmental science and man-agement, and reviews potential future envi-ronmental problems. This course countstowards a major in management, operationsmanagement, or international business.Students should have taken microeconomics.

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Statistics and Operations Research

ourses offered in the Department ofStatistics and Operations Research aredivided into three categories: (1) statistics,

(2) operations research, and (3) actuarial science.Statistics courses cover theory and techniques

relating to the application of the mathematical theo-ry of probability to decisions that must be made in theface of uncertainty. Statistical theory is used in a vari-ety of applications, such as sampling, data analysis,design of market research studies, quantitative meth-ods in cost accounting, statistical control of quality ofmanufactured products, economics forecasting, andfinancial modeling. Statistical computing algorithmsare used for analyzing data and statistical estimation.

Operations research courses cover the theory and application of mathematical modeling techniques foranalyzing and simulating business functions. Courses emphasize applications in economics, finance, oper-ations management, marketing, and other functional areas in business and administration. The coursescover theoretical developments and mathematical techniques integrated with the computer to solve deter-ministic and stochastic problems in resource allocation, short-term and long-term finance, transportation,routing, scheduling, inventory, and related areas. Operations research methods are used extensively on appli-cations to the field of operations management. For more details, see the description of the Department ofOperations Management on page 74.

Actuarial science courses prepare students for an actuarial career, which enables them to apply proba-bility and statistics to the fields of insurance and pensions. The courses in actuarial science and related fieldsof probability, statistics, economics, and finance cover all of the material that appears in the first two exam-inations jointly sponsored by the Society of Actuaries and the Casualty Actuarial Society. Other courses atStern cover portions of examinations three and four.

Students may wish to develop quantitative skills from a tailored track of statistics and operations researchcourses that produce a major or double major with a functional area. The most popular tracks are quanti-tative finance and in particular financial engineering, market research, and management consulting.

The programs in the Department of Statistics and Operations Research offer students the theory and tech-niques to solve business problems. Each course emphasizes the application of statistical and operationsresearch methods to actual business problems. The applied courses make extensive use of computers.

The Department of Statistics and Operations Research faculty has won world-wide recognition for its scholarship. Esquire Magazine (November 1999), for example, selected the department as one of the 20 centers of genius for the next millennium. Faculty members have won international awards for their research and for their skill as teachers. Their activities include government advisers, consultants to industry, and journal editors.

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Chairman: Edward L. Melnick

Professors Emeriti: Gerald Glasser,Ernest Kurnow, Melvin Shakun

Professors: Richard Brief, SampritChatterjee, Clifford Hurvich, EdwardMelnick, Joel Owen, Gary Simon, JeffreySimonoff, Aaron Tenenbein

Associate Professors: Halina Frydman,Peter Lakner

Assistant Professors: Xianghui (Sean)Chen, Rohit Deo

Adjunct Professors: Cyrus Mohebbi,Richard Tashjian

Adjunct Associate Professors: PaulHoppe, Hans Levenbach, Jeffrey Shaw

Department Office: KMC, 44 West FourthStreet, 8-160, 8th Floor

Web Site: www.stern.nyu.edu/sor

Students may select statistics and operations research as a major field for the M.B.A. and the Ph.D.degrees. In addition, an M.S. (in Statistics and Operations Research) is offered. The M.B.A. and M.S. (in Sta-tistics and Operations Research) degrees may also be taken with a specialization in actuarial science.

A student considering courses in the Department of Statistics and Operations Research beyond the basic coreshould speak to a faculty member about prerequisites and career objectives before designing and registering foran academic program. In certain instances, instructors may waive prerequisites for an advanced course.

The Department of Statistics and Operations Research offers courses for students without a rigorous math-ematical background. These are generally but not exclusively computer intensive courses that develop skillsin quantitative techniques. For the most part, the only prerequisite for these courses is Statistics and DataAnalysis B01.1305. These courses are open to students majoring in any department. They can be found fromthe Web page, www.stern.nyu.edu/sor, under the heading M.B.A. Electives for Majors in All Departments.

In addition to the curricular program, the department offers an extensive array of extracurricular activ-ities that offers students additional exposure to problem solving with mathematical models. Student-sponsored clubs include the actuarial science club and the financial engineering association. Weekly depart-ment seminars and all-day symposia are dedicated to special topics where speakers come from both industryand academe. Further, the department runs a Professor-in-Residence Program where high-profile academicsvisit and present a series of lectures on their special area of research.

RECOMMENDED ELECTIVES FORSTUDENTS IN OTHER MAJORS

Students who major in other departmentsand wish to take electives in statistics and operations research can choose amongany of the courses listed in the catalog and department Web site under the sug-gested programs.

MASTER OF SCIENCE(IN STATISTICS AND OPERA-TIONS RESEARCH)The Master of Science (in Statistics andOperations Research) Program is for stu-dents wishing greater concentration in sta-tistics or operations research without thebroad requirements of the M.B.A. Program.Because at least seven of the 12 coursesrequired in this program are taken in theDepartment of Statistics and OperationsResearch, students develop a deeper under-standing of the subject and a broader sense

of its applicability. For detailed requirements,see pages 28-29.

MASTER OF SCIENCE(IN MATHEMATICS/STATISTICSAND OPERATIONS RESEARCH)This is a cooperative program between theDepartment of Statistics and OperationsResearch of the Stern School and the Depart-ment of Mathematics of the Courant Insti-tute of Mathematical Sciences, GraduateSchool of Arts and Science. It provides stu-dents with a foundation in both mathemat-ics and statistics and operations research. Fordetails, see pages 25-27.

SPECIALIZATION IN ACTUARIALSCIENCE

Students enrolled in the M.B.A. or the M.S.(in Statistics and Operations Research)Programs may specialize in actuarial sci-ence. The courses in actuarial science and

related fields of probability, statistics, eco-nomics, and finance cover all of the materi-al that appears in the first two examinationsjointly sponsored by the Society of Actuariesand the Casualty Actuarial Society. Othercourses at Stern cover portions of examina-tions three and four.

SPECIALIZATION IN MARKETINGRESEARCH

M.B.A. students who are interested in marketresearch should take courses both in market-ing and in statistics and operations research.For more information, consult the depart-ment chairman.

COURSES IN STATISTICS ANDOPERATIONS RESEARCH

Core Course

Statistics and Data AnalysisB01.1305

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Department of Statistics and OperationsResearch staff. 4.5 credits.For description, see page 14.

M.B.A. ELECTIVES FOR MAJORSIN ALL DEPARTMENTS

The Department of Statistics and OperationsResearch offers courses for M.B.A. studentsinterested in applications of quantitativemethods to various phases of business activ-ity. These courses may also be taken by sta-tistics and operations research majors tomeet major course requirements. The onlyprerequisite for these courses is B01.1305,with the exception of B90.2309 andB90.2310. B90.2XXX courses emphasizeapplications and present the theory withintuitive arguments. B90.3XXX coursesemphasize methodology that are illustratedwith applications.

Regression and MultivariateData AnalysisB90.2301 or B90.3311Prerequisite: B01.1305. 3 credits. Falland spring.A data-driven, applied statistics course focus-ing on the twin subjects of regression andmultivariate data analysis. This courseemphasizes applications to the analysis ofbusiness data and makes extensive use ofcomputer statistical packages. Topics includethe analysis and management of data, mul-tiple linear and nonlinear regression, selec-tion of variables, residual analysis, modelbuilding, autoregression, and multi-collinearity. Topics in multivariate dataanalysis include principal components,analysis of variance, categorical data analy-sis, factor analysis, cluster analysis, discrim-inant analysis, and logistic regression. Alltopics are illustrated on data sets obtainedfrom the financial markets, market researchstudies, and other scientific inquiries.

Forecasting Time Series DataB90.2302 or B90.3312Prerequisite: B01.1305. 3 credits. Falland spring.Presented in this course are practical timeseries forecasting techniques with emphasison the Box-Jenkins (ARIMA) method andconditional volatility (ARCH/GARCH) mod-els. Provided is a mix of practical data analy-sis as well as an introduction to the relevanttheory. The ARIMA models are used to fore-cast series like interest spreads while ARCH

models are used in estimating and forecast-ing the volatility of series like stock returnsand exchange rate returns. Students analyzedata sets of their own choice in projects.Additional topics of interest covered in thecourse are methods of testing for nonstation-ary (Dickey-Fuller tests) as well as models forcapturing seasonality as seen for example inseries of monthly sales figures. The low-costforecasting method of exponential smooth-ing is discussed and its connection to theRiskMetricsTM methods of J. P. Morgan andGARCH models is explored. If time permits,we also study methods of forecasting multi-variate time series, where information fromseveral series is pooled to forecast a singleseries. The concept of co-integration or co-movement of multivariate series is discussed(interest rates being a prime example) alongwith their implications for forecasts. Otherpotential topics in the course include the useof ARCH models in value at risk (VAR) analy-sis and in option pricing.

Applied Stochastic Processes forFinancial ModelsB90.2308Prerequisite: B01.1305. 3 credits. Falland spring.The purpose of this course is to presentmathematical background for the stochasticprocesses that are widely employed as model-ing tools in finance. The emphasis is on theintuitive approach and examples rather thanon proofs or mathematical rigor. The courseincludes the following topics: random walks,martingales, Brownian motion, GeometricBrownian motion. The relevance of the con-sidered processes to financial modeling isstressed throughout. In particular, the Cox,Ross and Rubinstein, and the Black-ScholesModels for pricing stock options are dis-cussed. In addition, the Ho and Lee, Black-Derman and Toy, and the ox-Ingersoll-RossModels for pricing interest rate derivativesecurities are discussed.

Mathematics of InvestmentB90.2309Prerequisite: One semester of under-graduate calculus or permission of theinstructor. 3 credits. Fall.The course discusses mathematical andtechnical aspects of investments. Topicsinclude measurement of interest and dis-count rates, accumulated value and presentvalue, annuities, sinking funds, amortiza-tion of debt, and determination of yield rates

on securities. Applications include bondevaluation, mortgages, capital budgeting,depreciation methods, and insurance.

Introduction to OperationsResearchB90.2310Prerequisites: B01.1305 and onesemester of undergraduate calculus orpermission of the instructor. 3 credits.Spring.This is an introductory course that trains stu-dents to use the basic tools in operationsresearch. Students are exposed to a variety ofmanagerial situations requiring them to for-mulate operations problems and to selectand implement appropriate solutionmethodologies. Topics include optimizationtechniques such as linear programming,network models, inventory management,waiting-line analysis, and dynamic pro-gramming. Students are required to usecomputer software to solve typical problemsand analyze the outputs.

Stochastic Models for FinanceII: Fixed Income InstrumentsB90.3322Prerequisite: B90.3323. 3 credits.This class is devoted to a detailed study ofprobabilistic and financial aspects of model-ing of fixed-income instruments. The mod-ern martingale theory, widely used infinancial engineering, is the main modelingtool. The class evolves around the secondpart (Chapters 11-17) of the text MartingaleMethods in Financial Modelling by M.Musiela and M. Rutkowski. References arealso made to some recent papers in the areaof term structure modeling. The main build-ing blocks of the class are a survey of theinstruments most commonly traded onfinancial fixed income markets; a survey offinancial rates; a survey of short-term inter-est rate models; a study of the HJM model ofthe instantaneous forward rate; a study of anabstract bond market model; a study of for-ward LIBOR and forward swap rates models;a study of spot and futures options under sto-chastic interest rates models; a survey/studyof pricing/hedging models for caps/floors;and swaptions within various term structuremodels. Relationships between variousapproaches to term structure modeling areinvestigated. From the technical standpoint,an emphasis is put on modeling techniquesinvolving change of numeraire. In particu-lar, a detailed analysis is made of the con-

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Introduction to the Theory ofProbabilityB90.3301Prerequisites: two semesters of calculus. 3 credits. Summer, fall, and spring.This course covers the basic concepts ofprobability. Topics include the axiomaticdefinition of probability; combinatorial the-orems; conditional probability and indepen-dent events; random variables andprobability distributions, expectation offunctions of random variables; special dis-crete and continuous distributions, includ-ing the chi-square, t, and F distributions;joint distributions with emphasis on thebivariate normal distribution; law of largenumbers, central limit theorem; and mo-ment generating functions. The theory ofstatistical estimation is introduced with adiscussion on maximum likelihoodestimation.

Statistical Inference andRegression AnalysisB90.3302Prerequisites: B90.3301 and one semes-ter of linear algebra. 3 credits. Fall andspring.The course has two distinct components: sta-tistical inference and regression analysis.Topics included in statistical inference areprinciples of statistical estimation and infer-ence, Neyman-Pearson Lemma, testing ofmeans, variances, tests of independence,nonparametric methods. Regression analy-sis focuses on the general linear regressionmodel; least squares estimation, departuresfrom standard assumptions; autocorrelation,multicollinearity; analysis of residuals;choice of variables; nonlinear models.

Multivariate Statistical AnalysisB90.3303Prerequisite: B90.3302. 3 credits.Definition of properties of multivariatedistributions with focus on the multivariatenormal; geometric principle of sampling;multivariate asymptotics; principles ofmultivariate inference; tests of the mean

vector for one and several populationsleading to Hotelling’s T2 statistic andMNOVA; techniques of multiple compar-isons; mutivariate linear regression models;principal components; factor analysis;canonical correlations; discrimination andclassification; clustering, graphical displaysof mutivariate data.

Advanced Theory of StatisticsB90.3304Prerequisite: B90.3302. 3 credits.The course covers topics in statistical estima-tion and hypothesis testing. Topics on esti-mation include sufficiency; exponentialfamily; Pitman Koopman Theorem; criteriafor choice of estimators; lower bounds forvariance of estimators; sufficiency and com-pleteness; maximum likelihood estimation;theorems on limiting distributions; androbust estimation. Topics on hypothesistesting include theory of optimum tests;Neyman-Pearson Lemma; M.P. and U.M.P.tests; unbiased tests; composite hypotheses,Neyman structure; likelihood principle; andlikelihood ratio tests.

Bayesian Inference andStatistical Decision TheoryB90.3305Prerequisite: B90.3302. 3 credits.This course has two components: statisticaldecision theory and the Bayesian paradigmfor statistical inference. Statistical decisiontheory is concerned with the problem ofmaking decisions in the presence of relevantstatistical knowledge. Topics include deci-sion rules, utility, risk functions, admissibili-ty, consistency, expected loss, randomized,minimax, and Bayes decision rules. Gametheory. Both Frequentist and Bayesian con-cepts are considered. The Bayesian paradigmis the approach to statistics that formallyseeks to utilize prior information. Topicsinclude the notion of subjective probability,the specification of prior information, credi-bility sets, predictive distributions, empiricaland heirarchical Bayes analysis, Bayesianrobustness and computation. Comparisons

are made with the classical approaches totypical problems. Business case studies areused to illustrate both components.

Time Series AnalysisB90.3306Prerequisite: B90.3302. 3 credits.A course in the Fourier analysis of timeseries. The frequency domain approach cov-ered here provides a complementary outlookon time series to the usual time domain Box-Jenkins approach. Topics include periodicity(cycles) in time series data; the periodogramand its distribution; linear filters and transferfunctions; spectral density; spectral represen-tations of autocovariances and stationaryprocesses; ARMA models and their spectra;model selection; the linear forecasting prob-lem; and spectral estimation. We also discusslong memory models, including fractionalARIMA and nonlinear time series (includingARCH models and chaos), as time permits.

Categorical DataB90.3307Prerequisite: B90.3302. 3 credits.Discrete random variables are the subject ofthis course, with most of the emphasis goingto the bivariate and multivariate situations.The major topics are the chi-squared statis-tic; Fisher’s exact test; odds ratio estimatesand intervals; sets of tables; the log-linearmodel; model fitting; and logit analysis. Thefundamental paper by Leo Goodman in the1970 issue of the Journal of the AmericanStatistical Association is discussed. M.B.A.and undergraduate students registering forthis course are evaluated primarily on theirability to formulate and analyze data-basedproblems. All other students are evaluatedprimarily on their understanding of method-ological and theoretical issues associatedwith the analysis of categorical data.

Sampling TechniquesB90.3308Prerequisite: B90.3302. 3 credits. Fall.Considers commonly used samplingschemes, such as simple, random, stratified,

Courses in Statistics

cepts of spot martingale measure, forwardmartingale measure, spot LIBOR measure,forward swap measure. We analyze the rela-tionships between them, as well as their usein fixed-income modeling.

ELECTIVES IN STATISTICS,OPERATIONS RESEARCH, ANDACTUARIAL SCIENCE

These electives are open to all students (M.S.,M.B.A., and Ph.D.) who have the required

mathematical prerequisites (two semestersof calculus and one semester of matrix alge-bra at the graduate or undergraduate level).Typically students who majored in engineer-ing or mathematics would automaticallysatisfy this requirement.

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multistage, and double sampling andstudies their efficiency. Studies methods ofestimation, including ratio and regression.Other topics include poststratification, mul-tivariate surveys, analytic studies, problemsof nonresponse, nonsampling errors, andrandomized response technique. Theory isillustrated with examples from diverse fields.

Experimental DesignB90.3309Prerequisite: B90.3302. 3 credits.This course develops the analysis of variancemodel in detail through the “one-way” and“two-way” designs, including partitioningsums of squares, orthogonal polynomials,interactions, multiple comparisons, andfixed and random effects. The concepts ofrandomization and blocking lead to discus-sions of design strategy. Further topis, cov-ered if time permits, are the higher-orderdesigns, split-plot designs, and fractionalfactorials. The material of this course is vitalto those performing designed experiments,and the information can also be helpful inobservational studies.

Regression and MultivariateData AnalysisB90.3311For doctoral students only. 3 credits. Fall and spring.Same as B90.2301. For description, see page 80.

Forecasting Time Series DataB90.3312For doctoral students only. 3 credits. Fall and spring.Same as B90.2302. For description, seepage 80.

Statistical Computing andSampling Methods withApplications to FinanceB90.3314Prerequisite: B90.3302. 3 credits.This course covers most of the classical andmodern Monte Carlo methods for statisticalestimation. In particular, the fast growth ofMonte Carlo Markov Chain (MCMC) meth-ods has enabled the use of Bayesian infer-ence in many applied fields. Methodologiesare illustrated with financial applicationssuch as estimation of implied volatility andrisk measures. Examples are drawn frompublished research and survey papers in cur-rent literature (Risk Magazine, J. P. Morgan’sRisk Metrics). The course integrates threebasic components of statistical analysis infinancial areas: modeling and inference(with emphasis on Bayesian methodology);computing and sampling methods for statis-tical estimation (with emphasis on MCMC);and applications to financial data (withemphasis on volatility and risk). The focus isplaced on the second component, bridgingthe gap between what can be said in theory

(first component) and what can be done inpractice (third component). The goals of thecourse are modest so that a full treatment ofall major topics can be achieved.

Advanced Theory of ProbabilityB90.3352Prerequisites: B90.3301 plus 2 semestersof calculus. 3 credits. Spring.This course is designed for M.S. students instatistics and Ph.D. students in all disci-plines. The aim of the course is to establish acomprehensive foundation of the theory ofprobability. The topics covered are basicmeasure theory, random variables, andinduced measures and distributions; inde-pendence of random variables; integrationin a probability space with emphasis onConditional Expectation and martingales;modes of convergence of random variables,including almost sure convergence, conver-gence in LP, convergence in probability, andconvergence in distribution; characteristicfunctions and the inversion formula;the central limit theorem for independentidentically distributed random variables andalso for martingale differences. If time permits, additional topics will includefunctional central limit theorems and theirapplications.

Courses in Stochastic Processes

Introduction to StochasticProcessesB90.3321Prerequisite: B90.3301. 3 credits. Fall.This is an introductory course in stochasticprocesses. Its purpose is to introduce studentsinto a range of stochastic processes, whichare used as modeling tools in diverse fields ofapplications, especially in the business appli-cations. Introduces the most fundamentalideas in the area of modeling and analysis ofreal-world phenomena in terms of stochasticprocesses. Covers different classes of stochas-tic processes, such as discrete and continu-ous-time Markov chains, discrete and

continuous time martingales. A significantportion of the course is devoted to the studyof the Brownian motion process, as well as tostudy of the Ito stochastic calculus. In partic-ular, the concepts of the Ito stochasticintegral, Ito differentiation rule, and Itostochastic differential equation are dis-cussed. Presents various applications of theunderlying theoretical concepts with empha-sis on the application to financial modelingand financial engineering.

Stochastic Models for Finance I:Equity and Currency MarketB90.3323Prerequisite: B90.3321. 3 credits. Spring.This is a course on mathematical methodsfor modeling financial markets with empha-sis on valuation of financial derivatives. Thetopics include concepts of arbitrage, equiva-lent martingales measures, price systemswith finite and infinite state space, Black-Scholes valuation formula, Girsanov’s theo-rem, general contingent claims pricing,valuation of European and Americanoptions, and estimation of the volatility ofthe asset prices.

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Dissertation SeminarB90.9900Open only to doctoral students with thepermission of the instructor-in-charge. 9 credits per term. Fall and spring.

Individual meetings with the dissertationadviser and members of the tentative readingcommittee on the dissertation. Occasionalgroup meetings.

Dissertation Seminar

Students completing either the M.B.A. orM.S. (in Statistics and Operations Research)Program with a specialization in actuarialscience will be prepared for the actuarialexaminations of the Society of Actuaries andthe Casualty Actuarial Society.

The M.B.A. Program meets the needs ofstudents wishing to specialize in actuarialscience and to obtain a broad background inapplied business areas that interest the actu-ary (such as information systems, account-ing, finance, economics, marketing, andmanagement).

The M.S. (in Statistics and OperationsResearch) Program meets the needs of thestudents wishing to specialize in actuarialscience and to apply the methods of statisticsand operations research to actuarial andinsurance problems.

A student enrolled in the M.S. (inStatistics and Operations Research) or theM.B.A. Program should complete the courseslisted below.

STATISTICS AND OPERATIONSRESEARCH COURSES

Forecasting Time Series DataB90.2302For description, see page 80.

Mathematics of InvestmentB90.2309For description, see page 80.

Introduction to OperationsResearchB90.2310For description, see page 80.

Introduction to the Theory ofProbabilityB90.3301For description, see page 81.

Life ContingenciesB90.3335Prerequisites: B90.2309 and B90.3301.3 credits.Applies probability and mathematics ofinvestment to problems of premiums andreserves on annuities and insurance policies.Topics include probabilities of mortality,laws of mortality, joint life probabilities andannuities, multiple decrement theory. Appli-cations to pension plans is discussed.

FINANCE COURSES

Foundations of FinanceB01.2311For description, see pages 15, 47-48.

Corporate FinanceB40.2302For description, see page 49.

ECONOMICS COURSES

Understanding Firms andMarketsB01.1303For description, see page 14.

Global Business EnvironmentB01.2303For description, see pages 37-38.

Specialization in Actuarial Science

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M.B.A. Program Initiatives

mong the most innovative and popularstudy options at Stern are the ever-evolvingprogram initiatives. These collections of

courses are based on educational and research activi-ties issues that do not fall naturally into an existingdiscipline but rather cross several different academicareas. These industry-oriented program initiatives,unique to Stern, further focus your course work andgive you a distinctive edge if you pursue a career inone of these fields or even if you are only interested indeveloping additional skills in a nontraditional area.

A

The development and spread of networkedcomputing technology is creating unparal-leled opportunities and challenges for busi-ness, the economy, and society today. Thecombination of new technologies and newbusiness models is creating entirely newmarkets, industries, and work practices. Atthe same time, these developments raiseincreasing challenges for privacy, security,and intellectual property. The Stern Schooldigital economy initiative offers exception-ally strong educational programs buildingdirectly on the most recent faculty researchand on our close ties with e-commerce firms.

For M.B.A. students, we offer a certificatefor students interested in specializing in the digital economy. In order to completethe certificate, in addition to the M.B.A. coreand a departmental major, students musttake the digital economy required corecourse, B55.3338, Electronic Commerce and6 additional credits of course work (notincluding B55.3338) from the following set of courses:

Accounting, Control, andValuation in E-CommerceFirmsB10.3150

Accounting and Valuation inEntertainment, Media, andTechnology IndustriesB10.3355

Managing the Digital FirmB20.2314

Information and InternetTechnologiesB20.2317

Electronic CommunitiesB20.3135

Design and Development ofWeb-Based SystemsB20.3322

Data Mining and KnowledgeSystemsB20.3336

Current Topics in NewTechnologiesB20.3362

TelecommunicationsEconomics and DigitalConvergenceB30.2345

Corporate Finance for the NewEconomyB40.3342

Equity Markets: Trading andStructureB40.3349

Entrepreneurial FinanceB40.3361

Technology Innovation and NewProduct DevelopmentB60.3356

Consumer Behavior on the NetB70.2348

Marketing of Technology-BasedProductsB70.2390

Supply Chain ManagementB60.2306For information about the Digital Economy Initiative or the M.B.A. Digital Economy Certificate Program, [email protected].

Digital Economy

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Entertainment, Media, and Technology (EMT)

The Stern School of Business has estab-lished a leading-edge program initiative thatfocuses on the entertainment, media andtechnology (EMT) industries. The EMTinitiative allows students to examine busi-ness in these critical industries, includingfilm, TV, cable, music, publishing, as well as various forms of new media. Its goal is to train students for challenging and reward-ing careers in this group of interrelatedbusinesses. This program initiative isdesigned to prepare the next generation ofleaders to take these dynamic and growingbusinesses well into the 21st century.

Students in Stern’s EMT initiative gain aframework for understanding the strategyand operating principles that drive the indi-vidual components or sectors of the enter-tainment industry, the financing of start-upsand product development, the marketingand management of the companies, and therelevant technology connecting the productwith the consumer. While the primaryemphasis of EMT initiative is on the businessactivities that support content creation andthe media used to deliver content, studentsalso study the technology employed to createand deliver content.

Stern’s EMT initiative is unique within abusiness school. With a focus on both thebusiness and content aspects of the enter-tainment industries, Stern’s EMT initiativehas grown rapidly and now offers students arange of different courses that cover keyaspects of the EMT industries. In addition toa structured curriculum, the initiative relieson industry speakers to augment the class-room experience.

Top executives from entertainment com-panies are frequent visitors to classes. Theyprovide firsthand insights into content devel-opment, deal making, and the impact oftechnology and globalization on the diversesectors of the EMT industries. The role of newentrepreneurial ventures in changing busi-

ness relationships is also studied. Studentshave the opportunity to analyze businesscases, often with professors who have exten-sive EMT experience and who continue tomaintain important ties with the industries.At various times, the EMT courses analyzethe leading companies in the industry,including Disney, SONY, News Corporation,AOL/Time-Warner, Vivendi, Bertelsmann,and Viacom. The Stern School’s proximity toSilicon Alley and the entertainment andmedia giants headquartered in New YorkCity enables us to create a truly exciting anddynamic program initiative.

Students in the EMT initiative take amajor such as marketing, finance, manage-ment, and then select from among the vari-ous EMT courses to develop an in-depthunderstanding of the industries and theskills necessary to be successful. The EMTcourses being offered at Stern are listedbelow. For more information, visit the EMTWeb page at www.stern.nyu.edu/emt.

Entertainment, Media, andTechnology: Institutions,Economics, and StrategyB70.2341

Globalization of theEntertainment IndustryB70.2112

Professional Management:Entertainment and MediaB70.2113

The Business of SportsMarketingB70.2114

Craft and Commerce of CinemaB70.2313

Business of Producing:Entrepreneurship in the EMTIndustriesB70.2116

Strategy and Entrepreneurshipin the Entertainment andMedia IndustriesB70.2117

Marketing Hi-Tech ProductsB70.2390

Advertising ManagementB70.2309

Accounting and Valuation inthe EMT IndustriesB10.3325

Electronic CommerceB55.3338

Telecommunications:Economics and DigitalConvergenceB30.2345

Strategy and Finance in EMTCompaniesB40.3160

The Business of Music and FilmB40.3343

Entertainment FinanceB40.3344

Mergers and Acquisitions in theEntertainment IndustryB40.3196

Technological Innovation andNew Product DevelopmentB60.3356

The quantitative finance program initiativeprepares students for careers in finance thatare more mathematically demanding thanthe typical M.B.A. paths. In recent years wehave seen an increase in the demand foranalytical skills in the financial serviceindustries. Understanding recent develop-

ments in financial markets and productsrequires a degree of sophistication not onlyin finance, but also in stochastic processes,statistics, and applied economics. Courseswithin both the finance and the statistics andoperations research departments allow stu-dents to pursue advanced work in these

areas. The financial instruments taught pre-pare students to enter the financial worldwith knowledge of still-developing assess-ment techniques. Substantial knowledge ofcalculus and matrix algebra is required forthis increasingly popular area of study.

Quantitative Finance(FinancialEngineering)

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As young people prepare to participate in thebeneficial and stimulating world of econom-ic and business activity, they seek training tohelp them act effectively. Whether theseyoung people ultimately act as entrepreneursor as members of large organizations,whether they practice as legal or finance pro-fessionals or use their training and educa-tion elsewhere, they will be better able tounderstand and act effectively in theworld—both as businesspeople and as citi-zens—if they critically understand the waysin which law can and does affect the formand the content of potential transactions.That is why teaching students about theinteraction of law and business is one of theprimary focuses. To this end, the Center forLaw and Business is leading the charge with

its mission to enrich the curriculum of bothNYU’s School of Law and its Stern School ofBusiness by creating new courses and work-ing to encourage broader access to cross-dis-ciplinary studies. Joint-degree programs inlaw and business are more than most stu-dents need, but a core of courses that permitlaw and business students to learn essentialaspects of each other’s fields, and to learntogether in joint classes, enrich and improveprofessional education for both business andlaw. The first offerings have been innovative,jointly taught courses focused on suchthings as mergers and acquisitions, the pub-lic raising of capital, corporate governance,and private contract negotiations. These ini-tial courses provide a model for the develop-ment of a broader teaching curriculum in

coming years. New courses, just like ourexisting ones, will focus on the intersectionof law and business.

Courses include the Law and Business ofInvestment Banking (cotaught by WilliamAllen, Professor of Law, Clinical Professor ofBusiness and Arthur Rosenbloom, SternAdjunct Faculty, Managing Director, CFCCapital Corp.); Restructuring Firms andIndustries/Agency Problems and CorporateGovernance (taught by David Yermack,Stern Assistant Professor of Finance); andEntrepreneurial Finance (cotaught by Roy C. Smith, Kenneth Langone Professor of Entrepreneurship and Finance and aLimited Partner of Goldman, Sachs & Co.and Helen Scott, Professor of Law at NYUSchool of Law).

Law and Business

Real Estate Finance

The real estate finance program initiative atStern has been designed for students interest-ed in pursuing a career in real estate finance.Students can obtain a comprehensive reviewof all aspects of real estate finance throughthe basic real estate sequence offered atStern, supplemented by advanced coursesoffered elsewhere within the University. Thecourses are taught using a combination oflectures and intensive case study analyses byfaculty members at Stern in cooperationwith outstanding practitioners in the field.

This new initiative at Stern builds onestablished expertise in Stern’s Departmentof Finance and the International BusinessArea to offer a sequence of courses thatemphasize the importance of new financialinstruments and quantitative techniques inthe real estate field. As the initiative develops,we will develop high-level courses in associ-ation with faculty currently teaching in otherareas of Stern. In this way, we can developthe next generation of leadership in an areathat is of great student interest and is of greatimportance to the local New York economy.We are also in a position to advance knowl-edge and understanding in this area.

Well-established programs in real estateare a feature of other leading businessschools. However, few programs have quitethe locational advantage that Stern has inthe midst of a vibrant New York City realestate economy. In addition, a distinguishingfeature of our initiative is its tight integrationinto our well-regarded finance curriculum.It also has more of an international focusthan programs offered elsewhere. This initia-tive therefore represents an opportunity forexcellence. It complements the high-qualityprograms already being offered within NYU,both in the Real Estate Institute and as aconcentration in the School of Law.

The focus of the initiative is to preparestudents for entry-level positions in a varietyof financial institutions, all of which havelately developed real estate specializations.In investment banking, there is a significantdemand for specialists in real estate capitalmarkets, real estate investment trusts, mort-gage originations, mortgage backed securitytrading and structuring, and in real estateportfolio/asset management. Students canexpect to find positions in banks and insur-

ance companies as real estate analysts, asloan workout specialists, and in the struc-tured finance area. Rating agencies alsoneed specialists in real estate investmenttrust divisions, and in both residential andcommercial structured finance. There is alarge demand among pension funds for realestate portfolio managers and asset man-agers, as well as analysts in real estate. Final-ly, each of the big six accounting firms havereal estate divisions, and our students wouldbe prime candidates for positions in theirmanagement consulting divisions.

The real estate finance sequence consistsof one foundation course, Real EstateFinance B40.2339, and a variety of electivesthat assume knowledge of the materialcovered in this course and for which it is a prerequisite. In addition, there are twocourses offered in the School of Law open to Stern students that supplement the offer-ings at Stern.

For further information, contact the realestate finance initiative Web site atwww.stern.nyu.edu/~sbrown/realestate.

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COURSES

Real Estate FinanceB40.2339Prerequisite: B09.2316. 3 credits.

Mortgage-Backed SecuritiesB40.2340Prerequisites: B09.2316, B40.2339. 3 credits.

Investment Philosophies in RealEstateB40.2341Prerequisites: B09.2316, B40.2339. 3 credits.

International Real EstateB40.2342Prerequisite: B09.2316. 3 credits.

Real Estate Market AnalysisB40.2343Prerequisites: B09.2316, B40.2339. 3 credits.

Equity Financing of Real EstateB40.3179Prerequisites: B09.2316, B40.2339. 1.5 credits.

RELATED LAW SCHOOLCOURSES

Taxation of PropertyTransactionsL11.30273 credits.

Land Use RegulationL10.30203 credits.

Additional information on the M.B.A.program initiatives can be obtained as indi-cated below:

Program Contacts

Program Initiative Program Contact E-Mail Web Site Academic Advisers

Digital Economy [email protected] www.stern.nyu.edu/dei Professor Lee Sproull

Entertainment, Media, and Technology [email protected] www.stern.nyu.edu/emt Professor C. Samuel Craig

Law and Business www.stern.nyu.edu/clb Professor William Allen

Quantitative Finance Professor Joel Hasbrouck

Real Estate Finance www.stern.nyu.edu/realestate Professor Stephen Brown

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Research Centers and Institutes

aculty members at Stern are expected to doresearch as part of their academic responsi-bility. Faculty and students conduct a wide

variety of theoretical and empirical investigations intoproblems concerning business management as well asnational and international public policy formation.

F

Sidney Homer Director: Ingo Walter

Vice Director: Edward I. Altman

Center Office: KMC, 44 West Fourth Street,Suite 9-160

The Salomon Center is now the nation’sforemost independent academic researchorganization for the study of problems andissues related to the U.S. and global financialstructure. It focuses on (1) supporting objec-tive analyses of the continuing evolution offinancial institutions and markets and (2)serving as a forum for critical discussion onpublic policy issues surrounding the evolu-tion of financial systems and performance offirms in the financial services sector.

SPECIFIC OBJECTIVES

1. To conduct applied academic studiesusing conceptual and empirical techniquesto evaluate evolving financial instrumentsand markets, as well as their use in riskmanagement by financial institutions andbusiness corporations.

2. To sponsor conferences that bring togeth-er academics, practitioners, regulators, andlegislators to discuss new developments infinance and various aspects of the financialservices industry related to public policy.

3. To disseminate, through working papers,monographs, and books, the results of these

studies and conferences, in the expectationthat a better understanding of the issues willlead to a healthier financial environment.

4. To present state-of-the-art executive semi-nars in its Frontiers of Finance series. Theseinclude market risk control; risk manage-ment in banking; derivatives; portfolio man-agement; credit risk; foreign exchange riskmanagement; mergers and acquisitions;corporate valuation; and risk control inemerging markets.

5. To support teaching on financial institu-tions at the Stern School by sponsoring casewriting and curriculum development.

SALOMON CENTER RESEARCHAND ITS FINANCING

A founding grant in 1971 from the partnersof the financial firm of Salomon Brothersprovides a permanent endowment for theCenter’s essential operations. Dr. Henry Kauf-man contributed additional funds (1981 and1989) to establish a Center directorship inhonor of Sidney Homer and an academicchair in honor of Charles Simon, both ofwhom were partners of Salomon Brothers.The Center solicits operating funds frombanks, securities firms, exchanges, andinsurance and investment companies, aswell as from nonfinancial companies in the

United States and abroad. These corporatesponsors are called Center Associates.

Seed Grants. A portion of the Center’sfunds is reserved for seed grants made tofaculty members for research on topics ofinterest to the Center and for generatingexternal funding.

Center Fellowships. These grants stimu-late basic financial research at the SternSchool by providing substantial, untiedfunding for the School’s most productivemiddle-rank scholars/ teachers and for visit-ing faculty members and researchers.

Applied Research. Stern School facultyassociated with the Salomon Center under-take applied research and/or executive edu-cation projects, often in response to invita-tions from outside sponsors.

Sponsored projects have covered a broadrange of financial topics funded by variousinstitutions, such as Aetna Life; BancoSantander; Bankers Trust Company; BankJulius Baer; Citicorp; Exxon Corporation;Ford Foundation; Merrill Lynch; J. P.Morgan; National Science Foundation; New York State Bankers Association; Sam-sung; the Sloan Foundation; Standard &Poor’s Corporation; Union Bank of Switzer-land; the U.S. Department of Housing andUrban Development; and the U.S. Office ofTechnology Assessment.

New York University Salomon Center

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CONFERENCES

The Center conducts several conferenceseach year, at which academics, businessexecutives, and government officialsexchange ideas. Recent conferences haveincluded Universal Banking; Call Markets;Rethinking Emerging Markets; Dynamics ofBank Mergers; Governance of Pension Fundsand Mutual Funds; Small Business Finance;and Executive Compensation and Share-holder Value.

PUBLICATIONS

In addition to the books that evolve fromconferences and research projects, theSalomon Center produces the followingregular publications: three journals,Financial Markets, Instruments, andInstitutions (edited by Professor Anthony

Saunders); the Journal of InternationalFinancial Management and Accounting(edited by Professor Frederick D. S. Choi);and the Journal of Derivatives (edited byProfessor Stephen Figlewski), are publishedby the Salomon Center. The first of thesecontains research papers in economics andfinance too long or complex for scholarlyjournals or business periodicals. The secondcovers articles of importance to the financefunction of the international firm and finan-cial markets. The third journal is devoted tofutures and options markets.

Occasional Papers in Business andFinance provides circulation of importantpapers and small books on current financialand economic problems.

The Center’s Working Papers Series pro-vides quick access to research-in-progress in

financial economics, from the highly theo-retical to the rigorously applied.

The Center’s Annual Report containsinformation on the Center’s research, confer-ences, and publications to a mailing list ofover 9,000. It also reports on the faculty’sresearch in finance and economics.

Up-to-date listings of all Center publica-tions are available in Suite 9-160 of theKaufman Management Center or by calling(212) 998-0713.

SPONSORING CENTERASSOCIATES AND SUBSCRIBERS

Business firms and financial institutionsprovide annual support of Center activitiesand participate in formulating Center plans by becoming corporate associates of the Center.

The L.GlucksmanInstitute for Research in Securities Markets

Director: William L. Silber

The Institute, endowed by a grant from LewisGlucksman, offers faculty and student grantsto support research on equities, bonds,futures, options, and other financial instru-ments and on the markets where they aretraded. Five Glucksman Fellows are desig-nated yearly from among first-year, full-time

M.B.A. students. In their second year, thesefellows receive cash stipends and are pairedwith full-time faculty members on researchprojects in securities markets. Participatingfaculty members receive unrestricted grantsas well. The program exposes some topM.B.A. students to the rigors of formal aca-demic research in the practical areas of

financial economics. The Institute alsoawards an annual $5,000 prize for the bestresearch paper in finance by a Stern facultymember. These programs, as well as theGluckman Institute’s other activities, arecoordinated with the Salomon Center.

The Center for Japan-U.S. Business and Economic Studies

Director: Ryuzo Sato


The Center is one of the first university-basedorganizations in the world to promotegreater cooperative efforts between Japanand the United States through research, edu-cation, publications, and conferences. ABoard of Advisers, made up of prominentacademic, government, and business expertsfrom Japan, provides guidance and gener-ates financial support for Center activities.Many prominent Japanese and Americanacademicians are affiliated with the Centeras research associates.

RESEARCH

The Center conducts academic studies that use theoretical and empirical methodsto evaluate major business and eco-nomic issues important to Japan and theUnited States. See page 90 for a list ofcontributors to the Center’s endowmentsand research grants.

CONFERENCES, PUBLICLECTURES, POLICY DEBATES,AND SEMINARS

Center-sponsored events bring together aca-demic, business, and government leaders to discuss issues in micro- and macroeco-nomics, finance and investment, and inter-national trade and financial transactions asthey affect Japan and the United States.International conferences, panel discus-sions, public lectures, and policy debates areheld in New York and in Tokyo to elucidatethese issues. The M.B.A. Public Lecture Seriesfeatures Shinsei Bank Visiting Professor ofPolitical Economy Paul A. Samuelson. Pub-lic lectures and seminars are conductedthroughout the academic year. The Japan-U.S. Forum Series is offered on a regularbasis for students to discuss topics of interestwith local business representatives in aninformal setting. Japan-U.S. research semi-nars present the latest research on issuesaffecting the two countries presented byscholars from NYU and other universities

around the country. Through the policydebate program, scholars are invited to pre-pare papers on topics of current interest andto participate in a panel discussion, at whichtime they summarize their research.

PUBLICATIONS

The Center disseminates the results of itsstudies and conferences through workingpapers, occasional papers, and public lecturetranscripts. The collected papers from pastconferences and research projects are pub-lished in books: Fragile Interdependence;Recent Developments in Japanese Eco-nomics; Beyond Trade Friction; andJapan, Europe, and International Finan-cial Markets. The Sanwa Monograph Seriespublished by Cambridge University Pressincludes International Financial Integra-tion; Financial Markets and EuropeanMonetary Cooperation; and two volumes inpress. With North Holland (a division ofElsevier Science Publishing Co.), the Centerpublishes a quarterly academic journal

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entitled Japan and the World Economy:International Journal of Theory andPolicy. The Center’s research associates inJapan have compiled a book edited by RyuzoSato, Hajime Hori, and Rama Ramachan-dran, entitled Organization, Performanceand Equity: Perspectives on the JapaneseEconomy, which was published by KluwerAcademic Publishers; other technical vol-umes from the same publisher are Conser-vation Laws and Symmetry: Applicationsto Economics and Finance and Symmetryand Economic Invariance. The Englishlanguage edition of The Chrysanthemumand the Eagle, Professor Sato’s award-winning commentary on Japan-U.S. rela-tions, published by NYU Press, is available in bookstores.

COURSES

The Center assists the economics, finance,and marketing departments in the develop-ment of courses that provide Stern Schoolstudents with the opportunity to concentratein the area of Japan-U.S. business and eco-nomics. A grant from the Japan-U.S. Friend-ship Commission has provided much of thesupport for this course development.

FINANCING FOR THE CENTER

Financial contributions have come fromAmerican and Japanese companies and

institutions. This support is in the form ofresearch grants, endowments, and ongoinggrants listed in this section. In addition, theCenter has the endorsement and support of the Keidanren (Japan’s Federation ofEconomic Organizations) and the JapanFoundation.

ENDOWMENTS AND ONGOINGGRANTS

The Center’s Board of Advisers in Japanworks with various corporations and organi-zations to provide endowments, includingthe following:

The Asahi Bank, Ltd.—Endowment forInternational Research

Endowment for the W. Edwards DemingChair in Quality and Productivity

Mrs. Fumiko Hosoda—Shinbashi-HosodaEndowment for Business Research andEducation

Shinsei Bank—Endowment for the VisitingProfessor of Political Economy, ProfessorPaul A. Samuelson

NEC Corporation—Endowment for NECFaculty Fellows Program

Sangyo Kenkyujo Foundation—Endowment for Study of U.S.-JapanEconomic Relations

The Sanwa Bank, Ltd.—Endowment forStudy of International Financial Markets

The C. V. Starr Foundation—Endowmentand Challenge Grant

Takeshi Iizuka and TKC Corporation—Endowment for Research in Accounting,Auditing, and Data Processing

The following corporations and organiza-tions have provided research grants: AllNippon Airways Co., Ltd.; Goldman, Sachsand Co.; Hasegawa Shoten, Ltd.; HayakawaCo., Ltd.; IBM; ITOCHU Corporation;Japanese Certified Public Tax Accountantsand Customers Association; Kodansha, Ltd.,Publishers; Maeta Concrete Industry Ltd.;Ministry of International Trade and Industry(MITI); Mitsui Trust and Banking Company,Ltd.; National Institute for ResearchAdvancement (NIRA); Nihon Kenko ZoushinKenkyukai Corp.; Nippon Life Insurance Co.;Ohmori Management Advisory Office Inc.;Okasan Economic Research Co., Ltd.; RCA;Sakura Bank; Salomon Brothers, Inc.;Sanwa Bank; Tohoku Electric PowerCompany Inc.; U.S.-Japan FriendshipCommission.

CORPORATE ASSOCIATES

The Center’s corporate associates includefirms that have their employees enrolled atthe Stern School. They provide modestannual support for the Center’s activities.

The Vincent C. Ross Institute of Accounting Research

Director: Baruch Lev

Acting Associate Director: Seymour Jones

Center Office: Tisch Hall, 40 West FourthStreet, Room 300, (212) 998-4143

In 1971, Vincent C. Ross established andendowed this institute. He wished to createan environment where research would flour-ish and where financial executives, profes-sional accountants, government officials,and academicians might advance account-ing principles and practices. Over the years,the Vincent C. Ross Institute has organizedand funded many activities for developingand exchanging ideas about accounting andrelated disciplines, including the following:

• Research projects on topics of interest toproducers and users of accounting informa-tion. Recent research projects undertakenwith Ross Institute funding include “TheValuation of R & D Expenditures: A Time

Series Analysis,” by Jeffrey Callen; “TheMarket Valuation of R & D Expenditures,” byPaul Zarowin; “Financial Disclosures andthe ‘Informativeness’ of Stock Prices,” byPaul Zarowin; “Operations and Valuation ofInternet Related Firms,” by Joshua Livnat;“Legal Liability Rules, Auditor Reputation,and Audit Quality,” by Teresa John; and April Klein’s “Board Structure, Committees,and Organizational Efficiency,” “AnEmpirical Analysis of the Relation BetweenBoard Directors’ Composition, FirmPerformance, and the Degree of CEODomination of the Board of Directors,” and“Economic Determinants of Audit Com-mittee Composition and Activity.”

• Maintaining a research library for SternSchool faculty and Ph.D. students interestedin accounting, finance, economics, man-agement, and decision making. The libraryalso houses a unique collection of historicalcorporate annual reports.

• Disseminating research results throughconferences, journals, the working paperseries, and over the Internet.

• Editing and publishing the Journal ofAccounting, Auditing, and Finance(JAAF).

• Organizing the annual JAAF/KPMG Peat Marwick Conference, sponsored byKPMG Peat Marwick. The conference bringstogether young academics with leaders inthe research area, on a major topic on theeconomics of financial statements. The con-ference in August 1999 covered theoreticaland applied aspects of equity valuation(Ohlson) models. The conference in August2000 was devoted to several aspects ofmanaging earnings expectations. The nextJAAF-KPMG Conference will be held inJanuary 2002, under the leadership ofProfessor Stephen Ryan, on the topic of con-servatism in accounting.

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• Organizing and sponsoring programsand events to facilitate the exchange of infor-mation and ideas between the business andacademic communities, including distin-guished lectures, executive education pro-grams, and professional conferences androundtables. Ross Roundtables provide aforum for “public opinion shapers”—business writers, financial analysts, edu-cators, policy makers, and accountingprofessionals—to discuss important devel-opments in the accounting and capitalmarkets areas. Recent Roundtable topicshave included The Internet and ElectronicCommerce: Financial Reporting andAuditing Challenges; The Demand for and Supply of Accounting Professionals in the Year 2000 and Beyond; EarningsManagement and Auditor Responsibility;and Earnings Management, ExpectationsManagement, and Equity Valuation.

• Actively cooperating with other institu-tions to develop research, programs andevents, including the NYU Center for Lawand Business, the NYU School of Law, andoutside organizations, such as the BrookingsInstitute or the Big Five accounting firms,and regulatory bodies, such as theIndependence Standards Board.

In the fall of 1996, the Institute sponsored amajor research initiative known as theIntangibles Research Project, under thedirection of Professor Baruch Lev. TheIntangibles Research Project sponsorsresearch and disseminates information onthe valuation and disclosure of corporateintangible assets. Intangible assets includehuman development and intellectual capital(which have never been recorded in corpo-rate balance sheets), as well as purchasedgoodwill and other intangible assets thathave traditionally appeared on the corporatebalance sheets.

A recent report by Baruch Lev for the Brookings Institute, entitled Intan-gibles: Management, Measurement,

and Reporting, may be found atwww.stern.nyu.edu/~blev. The report cov-ers questions such as, What are intangibleassets? Why the heightened interest in theseassets? Who should be concerned aboutintangibles? It presents the unique attributesof intangible assets that distinguish themfrom physical and financial assets, and out-lines an economic framework to analyzeissues relating to intangibles. The reportcompiles and analyzes empirical research onthe impact of intangible assets on operationsand growth of business enterprises as well ason investors in capital markets. It then out-lines harm done by the current deficient dis-closure of information about intangibles,and surveys the economic and political rea-sons for the lack of disclosure. It concludesby proposing a comprehensive and coherentinformation system that can be used inter-nally and externally to value intangibles andto reflect investment consequences.

The project also facilitates interchangebetween parties in intangibles, through con-ferences, events, and a Web site. With theErnst and Young Center for Business Inno-vation, the Institute’s Intangibles ResearchProject developed an electronic clearing-house for information on intangible assets atwww.stern.nyu.edu/ross/ProjectInt/.

The Intangibles Conference held eachyear in May presents academic research toan audience consisting approximatelyequally of practitioners and academics.PricewaterhouseCoopers LLP sponsored allthe Intangibles Conferences. The fourth con-ference in May 2001 focuses on newadvances in measuring intellectual capital.The first conference (May 1998) addressedthe relationship between intangibles andcapital markets and the second conference(May 1999) looked at the managerial andorganizational aspects of intangible invest-ments. The May 2000 conference focused onthe management, measurement, and orga-nization of knowledge.

The Institute initiated the CorporateEarnings Research Project in June 1999,under the leadership of Paul R. Brown,chair, Department of Accounting, Taxation,and Business Law and Baruch Lev, director ofthe Ross Institute and Bardes Professor ofAccounting and Finance. The CorporateEarnings Research Project aims to bothobserve the effectiveness of corporate earn-ings as a signal of firm performance and toimprove the measurement and disclosure of corporate earnings. The project sponsorsand conducts research, disseminates infor-mation, and facilitates interchange betweeninterested parties, such as financial exec-utives, financial analysts, professionalaccountants, government officials, aca-demics, and the financial press.

The Corporate Earnings Research Projectis linked to the Intangibles Research Projectby overlapping personnel and interest inresearch related to earnings usefulness andeconomic value-added disclosures for firmsemploying high-levels of corporate intangi-ble assets in their operations.

Under the direction of Paul Brown, theproject is developing a “quality of earnings”database, documenting cases where GAAP isnot violated, but where managementappears to have used subjectively appliedreporting techniques to meet targeted num-bers. The study analyzes systematic aspects ofthese cases and surveys research literature onearnings management. A study, under thedirection of Eli Bartov, investigates the man-ner by which firms meet or beat earningsexpectations (MBE), and measures therewards to MBE. The evidence supports thatMBE is obtained through both earningsmanagement and expectation manage-ment. More important, the evidence showsthat after controlling for the overall earningsperformance in the quarter, firms that man-age to meet or beat their earnings expecta-tions enjoy an average quarterly return thatis higher by almost 3 percent than their peersthat fail to do so.

Director: Ari Ginsberg


The Berkley Center for EntrepreneurialStudies is dedicated to conducting and sup-porting entrepreneurship research and edu-cation. The Center underwrites researchgrants for faculty members and doctoral stu-dents; conducts conferences for scholars and

practitioners; engages in specialized execu-tive education; and produces a variety ofpublications that contribute to understand-ing the entrepreneurial process and the pub-lic policy and educational issues associatedwith encouraging new enterprise develop-ment. The Center also offers cocurricularprograms that are designed to complementcourse-related learning and to encourage

the desire among Stern students to createeconomic enterprise through new ventures,either in start-up or established businesses.

RESEARCH

The Berkley Center focuses its research mis-sion on three primary areas:

1. The entrepreneurial process, fromidea conception to establishing and

The Berkley Center for Entrepreneurial Studies

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growing a new business. This includesanalysis of the process of opportunity as-sessment and new venture creation; themarkets that support entrepreneurial activi-ties; and the legal, financial, and informa-tional infrastructures associated with thosemarkets.

2. Public policy issues shaping thenature of entrepreneurial activity.These issues span areas of financial systemarchitecture, tax policy, trade policy, securi-ties, and corporate law, to name just a few.

3. Assessment of educational pro-grams influencing entrepreneurialcareer aspirations and new enter-prise development among studentsand alumni. This includes investigation ofthe knowledge and skill sets required byentrepreneurs and how those can best bedelivered in curricular and extracurricularprograms at the undergraduate, graduate,and executive education levels.

The Berkley Center supports and promotesresearch in these areas by providing grantsand seed money for research proposals andcase development, and by organizing confer-ences and seminars that offer a forum forscholarly interaction.

CONFERENCES, SEMINARS, AND PUBLICATIONS

Berkley Center sponsored conferences andseminars are organized to achieve severalobjectives: (1) to provide an opportunity forthe academic practitioner and policy-making communities to discuss cutting-edge research on entrepreneurship andinnovation; (2) to provide an opportunity to

help set the research agenda in entrepre-neurship by defining and clarifying keypolicy making and managerial issues; and(3) to provide a vehicle for disseminatingcurrent academic thinking and managerialprescription to the business community.

The Berkley Center also maintains aworking paper series and a case series thatshowcase research papers and case studieswritten by Stern faculty or students on vari-ous entrepreneurship and innovation issues.Current research by Stern faculty is regularlypublished in books and leading academicjournals. Cases are used in the Stern School’sEntrepreneurship and Innovation programand are also available to outside educators.Examination copies can be downloadedfrom the Berkley Center Web site. For moreinformation on available cases and work-ing papers, please visit our Web site atwww.stern.nyu.edu/ei/bces/research.

COCURRICULAR PROGRAMS

In addition to its research program initia-tives, the Berkley Center offers a variety ofevents and activities that provide both grad-uate and undergraduate students with real-world exposure to current entrepreneurs andentrepreneurial issues. In this way theBerkley Center is a catalyst in creating a newgeneration of business leaders who are dedi-cated to the idea of creating new enterpriseand to fostering innovation and new venturecreation within existing firms. Cocurricularprograms sponsored by the Berkley Centerinclude the following:

1. Entrepreneurial Training Retreat.This program provides an off-campus inter-active learning atmosphere in which the

participants share venture ideas amongthemselves as well as with faculty, recentalumni, service providers, and entrepre-neurs. The retreat provides an extraordinaryeducational and feedback opportunity forstudents operating their own businesses orplanning to start them.

2. Entrepreneur-in-Residence. Thisprogram brings a distinguished entrepre-neur on campus four days a month to meetindividually with students who need adviceon starting or growing their own business.This program gives Stern students an oppor-tunity to get focused feedback and guidancethrough direct interaction with a seasonedentrepreneur.

3. Entrepreneurship Lunch andLearn Program. Sponsored in conjunc-tion with TANG, Entrepreneurs’ Exchange(EE), and Entrepreneurial Exchange Group,this program features several series oflunchtime sessions in which students canexchange ideas with and learn from success-ful entrepreneurs and business professionals.

4. The Stern Maximum ExposurePlus Business Plan Competition.Organized in conjunction with theEntrepreneurs Exchange student club, thisprogram promotes the business launch aspi-rations of entrepreneurial Stern students byexposing students and their ideas to poten-tial investors. Nationally renowned venturecapitalists, angels, and entrepreneurs attendand evaluate business ideas.

For more information on Berkley Center pro-grams and activities, please visit our Web siteat www.stern.nyu.edu/ei/bces.

Center for Digital EconomyResearch

Director: Norman H. White

Center Office: KMC, 44 West Fourth Street,9th Floor

The Center for Digital Economy Researchpromotes research on the effective use ofinformation and information technologiesin organizations.

Working with all academic departmentsin the School, the Center focuses on man-agement policy and planning for technol-ogy; the alignment of business andtechnology strategies; the use and economics

of information; decision making and prob-lem solving; electronic commerce; theimplementation of change in organizations;new approaches to systems analysis anddesign; databases and their management;organizational modeling; networks andtheir management; and technical supportfor group work.

During the year, the Center conducts sem-inars in both research and practice. Anextensive list of working papers and otherpublications is available from the Centeroffice, and an annual report is published.

The Center’s Affiliates Program, open toindustry, provides a forum for the discussionof issues concerned with the managementand use of technology. Major corporationsparticipate in the program, which includes aseminar series, joint research studies, acareer evening, awards for outstanding stu-dents, student club speakers, and other activ-ities that foster closer relations with industry.

For more information, visit our Web siteat www.stern.nyu.edu/ciio.

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New York University Center for Law and Business

Director: William T. Allen


The NYU Center for Law and Business wasestablished in the fall of 1997 as a joint ven-ture of the Leonard N. Stern School ofBusiness and the NYU School of Law. Thecentral aim of the Center is to bring togetherlegal scholars, thoughtful professionals, andexperts in business behavior. The Center’smission has three principle parts:

1. Professional Education: To enrichthe teaching curriculum of both the law andbusiness schools through the development of a unique set of new courses offered to

those students at either school who have a special interest in the interaction of lawand business.

2. Scholarship: To facilitate professionalinteraction and joint scholarly work be-tween faculty who share an interest in thestructure, regulation, and function of themarket economy.

3. Policy and Professionalism: Tocontribute to the public welfare throughprograms of professional education anddevelopment, and through the support of scholarship that assists governmental and private policy makers in fashioningchange that contributes to enhanced busi-ness productivity.

The Center draws on the legal and financialexpertise of both the NYU School of Law andthe Leonard N. Stern School of Business toimprove research and teaching and to stim-ulate a better understanding of the relation-ship between legal system regulation andhow well individuals and organizations areable to accomplish economic interac-tions—that is to do business. Throughinnovative curriculum and creative pro-gramming, which reaches out beyond theclassroom to the professional community,the Center has already begun to serve as acatalyst for that better understanding.

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Admission–Master of BusinessAdministration

All applicants whose native language is notEnglish and who have not received a univer-sity degree in an English-speaking countrymust take the Test of English as a ForeignLanguage (TOEFL) in addition to the GMAT.Information about the TOEFL test may beobtained from the following:

TOEFLEducational Testing ServiceP.O. Box 6151Princeton, NJ 08541

(609) 771-7760www.toefl.org

Note: TOEFL scores are valid for two yearsprior to the beginning semester for which anapplicant seeks admission. (See the M.B.A.application booklet for acceptable dates.)

Applicants may also take the Englishproficiency test of New York University’sAmerican Language Institute (ALI) in lieu ofthe TOEFL.

Test of English as a Foreign Language (TOEFL)

he M.B.A. Admissions office is responsiblefor enrolling classes of full- and part-timestudents during each fall term and a class

of part-time students in the spring term. Admissionto the M.B.A. Program at the Stern School is open toany qualified man or woman who holds a bache-lor’s degree or its international equivalent from anaccredited undergraduate institution. A number offactors are considered in evaluating M.B.A. appli-cations, including the applicant’s intellectualcapacity, as evidenced by previous academic workand the Graduate Management Admission Test(GMAT) score, the nature and extent of previouswork experience, personal essays, and letters of recommendation. The Stern School uses a self-managed application process, and the applicant is responsible for gathering and completing all requiredinformation and submitting it at one time. The Admissions Committee has the right to make a deci-sion on an incomplete application.

For current admission information or to request application materials, please contact M.B.A. Admissions at

New York UniversityLeonard N. Stern School of BusinessM.B.A. Admissions44 West Fourth Street, Suite 10-160New York, NY 10012-1126

Telephone: (212) 998-0600Fax: (212) 995-4231E-mail: [email protected] site: www.stern.nyu.edu/mba/admissions

Please note: Unless admitted to a formaljoint-degree program, New York Universitystudents may not pursue two degree pro-grams simultaneously at different schools ofthe University.

Required of all degree applicants, this test isgiven by the Educational Testing Service. Anapplication for the test and a bulletin aboutits administration are available from thefollowing:

GMATEducational Testing ServiceP.O. Box 6101Princeton, NJ 08541

(609) 921-9000(800) GMAT-NOWwww.gmac.com

Note: GMAT scores are valid for five yearsprior to the beginning semester for which anapplicant seeks admission. (See the M.B.A.application booklet for acceptable dates.)

The Graduate Management Admission Test (GMAT)

T

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Application Procedure for the M.B.A. Program

The Stern School uses a self-managed appli-cation for the full- and part-time M.B.A. Pro-grams. The applicant has responsibility forgathering and completing all required infor-mation, obtaining supporting documents,and submitting all materials in a singleenvelope to M.B.A. Admissions.

Upon the deadline, applicationsreceived incomplete without allsupporting credentials (other thanofficial GMAT and TOEFL scores)cannot be guaranteed a review forthe intended semester of enroll-ment and will cause significant delayin processing time. By adhering to these procedures, candidates can be suretheir applications will receive properconsideration:

1. Obtain application materials from thefollowing:

Leonard N. Stern School of BusinessNew York UniversityM.B.A. Admissions44 West Fourth Street, Suite 10-160New York, NY 10012-1126

Telephone: (212) 998-0600Fax: (212) 995-4231E-mail: [email protected]

Application forms can also be down-loaded from our Web site at www.stern.nyu.edu/mba/admissions.

2. Take the Graduate ManagementAdmission Test and request that your score be sent to Stern M.B.A. Admissions.Stern cannot accept faxed copies ofthe GMAT.

The ETS reporting codes for the GMAT andTOEFL at Stern is 2852.

3. Use the forms in the application materialsto request that official transcripts andrequired letters of recommendation be sentdirectly to you.

4. Send all completed application forms, the appropriate application fee, essays, arésumé, and the sealed envelopes contain-ing transcripts and recommendations to

M.B.A. Admissions before the applicationdeadline. Stern cannot accept faxedcredentials.

5. International applicants must take the TOEFL and request that their scores be sent directly to M.B.A. Admissions. Stern cannot accept faxed copies of the TOEFL.

6. If seeking financial aid, complete the Free Application for Federal Student Aid(FAFSA), which may be obtained from the federal processing agency at (800) 4FED-AID or from the Web site atwww.ed.gov/offices/OPE/express.html.

The priority deadline for submitting theFAFSA for the academic year 2002-2003 isJanuary 15, 2002.

APPLICATION DEADLINES FORFALL TERM:December 1 Full-time M.B.A. applicants

seeking scholarship consideration

January 15 Full-time M.B.A. applicants seeking to complete the application and interview process in time to attend Stern’s Pre-View Day inearly April

March 15 Full-time M.B.A. applicants final deadline

May 15 Part-time M.B.A. applicants

APPLICATION DEADLINE FORSPRING TERM (PART-TIMESTUDY ONLY):

September 15 Part-time M.B.A. applicants

Executive M.B.A. applicants: SeeExecutive Programs, pages 17-22.

Ph.D. applicants: See Doctor ofPhilosophy Program, pages 30-32.

M.S. applicants: See individualprogram descriptions, pages 23-29.

TIMING OF ADMISSIONSDECISIONS

Full-time M.B.A. students are admitted forthe fall term only. Part-time M.B.A. studentsare admitted for the fall and spring terms.

The Admissions Committee begins itsreview of applications in December for full-time applicants to the fall term, in April forpart-time applicants to the fall term, and inSeptember for the spring term. Applicationssubmitted before the Admissions Committeebegins its review for that term will be consid-ered after the appropriate decision periodcommences. Applicants receive a decisionapproximately 10 to 12 weeks after Sternreceives a completed application. Applica-tions received on or near the deadlinemay take longer to process.

If your application or any part of it isreceived by Admissions after the deadline forthe desired term, it may be considered for thesubsequent term.

ENROLLMENT DEPOSITS(NONREFUNDABLE)Each admitted applicant must submit anonrefundable enrollment deposit of (U.S.)$1,000. The deposit deadline will be specifiedin the offer of admission letter. Thedeposit guarantees a place in theclass only for the term and programfor which the applicant was admit-ted. Anyone who does not notify us of his orher intention to enroll by submitting adeposit by the specified deadline will not bepermitted to register and may lose the offer ofadmission. The Stern School does not offerdeferral of admission to a future term. Stu-dents must apply for the term in which theyintend to enroll.

Students who are anxious about theirEnglish skills may choose to have theirproficiency evaluated by ALI. The Instituteoffers a diagnostic test and, based on thescore, will direct students to appropriateEnglish courses.

We urge students concerned about their command of English to contact ALI for more information.

American Language InstituteSchool of Continuing and Professional StudiesNew York University48 Cooper Square, Room 200New York, NY 10003-7154(212) 998-7040

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CHANGE OF PROGRAM BEFOREMATRICULATION

Prior to enrolling for the first time, studentswho wish to change from the full-time pro-gram to the part-time program, or vice versa,must petition the chairperson of theAdmissions Committee in writing. Petitionsare reviewed after all regular applications tothe program that were received by the appli-cation deadline are evaluated. Permission tochange status is not guaranteed, is rarelygranted, and requires forfeiting the originaloffer of admission (i.e., students whose peti-tions for a change of program are rejected,are not guaranteed places in the program towhich they were originally admitted).

APPLICATION PROCEDUREFOR READMISSION TO THEM.B.A. PROGRAM

Applicants must submit a new applicationfor admission to M.B.A. Admissions andcompete with the current pool of applicants.The application must include all materialsrequired by the Admissions Committee at thetime of reapplication, including currentstandardized test scores.

Applicants readmitted to the M.B.A.Program must fulfill all program require-ments in effect at the time of their readmis-sion, which may mean that additionalcourse work will be required.

Only one readmission is allowed. Thoseunable to complete the remaining require-

ments in the additional time allowed follow-ing readmission, forego the opportunity toreceive an M.B.A. from New York University.

ADMISSION TO JOINT DEGREEPROGRAMS

All joint degree programs follow the samebasic application procedures:

• Applicants must submit separate applica-tions to the Stern School and the other par-ticipating school. They will compete withregular applicants at each school and mustbe admitted to both schools. Applicantsshould write the name of the joint programacross the top of each school’s application.

• Full-time students seeking financial aidmust submit the financial aid application tothe school they will be attending for most ofthat academic year.

• Detailed information on program schedul-ing and structure is available on the Web atwww.stern.nyu.edu/mba/advising.

INFORMATION FORINTERNATIONAL STUDENTSAND OTHER APPLICANTSWITH FOREIGN ACADEMICCREDENTIALS

The Stern School welcomes applicants fromother countries. During the past year,approximately one-third of our studentswere from countries outside of the UnitedStates. This is one of the largest internation-

al student populations among the leadinggraduate business schools. Many studentscome from developing countries, and manyare sponsored by their governments orhome-based corporations; upon returning totheir homelands, they will assume responsi-ble positions in government and business.

International applicants may contactM.B.A. Admissions if they have questionsregarding their academic eligibility. A partiallist of acceptable undergraduate degrees islisted on the M.B.A. Admissions Web site.

International applicants must meet thesame admission criteria as all other stu-dents. All international students must have a command of English commensurate withthe rigorous standards of the Stern Schoolprograms. In addition to the GMAT, inter-national applicants whose native languageis not English must submit their score from the Test of English as a Foreign Lan-guage (TOEFL).

Overseas applicants must submit theirapplications and all required supportingmaterials by the published deadlines. Alldocuments in languages other than Englishmust be accompanied by original certifiedEnglish translations. Stern requires originaltranscripts from all colleges or universitiesattended. As this is often a lengthy process,students should plan to obtain these materi-als well in advance of application deadlines.Applications cannot be processed until allsupporting documents are received.

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Financial Aid

ecause a graduate business degree willafford students the opportunity forsignificant personal growth and career

advancement, obtaining that degree will require aconsiderable investment of resources. Many studentswill need assistance in meeting the costs of businessschool. This section is designed to guide you throughthe financial aid process.

B

New York University participates in theStafford Student Loan Program. Stern alsooffers competitive awards based on merit. In addition, private and federal educationalloans are available to assist with schoolexpenses. Please note that student loans are the primary source of assistance for most students.

Full-time students meeting the December1 admission application deadline will beconsidered for merit-based scholarships.

Loans with various repayment terms are also available. Part-time employmentmay also be available within the Universityand in the local community. Students mayalso apply for graduate assistantships andteaching fellowships as indicated later inthis section.

Part-time students are eligible to apply for loans and generally must enroll in atleast 6 credits (half-time) per semester to be eligible.

Please direct all correspondence andinquiries about financial aid to M.B.A.Financial Aid for proper handling:

New York UniversityLeonard N. Stern School of BusinessM.B.A. Financial Aid44 West Fourth Street, Suite 10-160New York, NY 10012-1126

www.stern.nyu.edu/mba/finaidE-mail: [email protected]

All eligible students applying for financialaid must submit a Free Application forFederal Student Aid (FAFSA) to the fed-eral processor listing New York University(federal code 002785). To be eligible for

federal loans, you must be a U.S. citizen or U.S. permanent resident. Students maycomplete an electronic FAFSA located onwww.fafsa.ed.gov. All students must com-plete and forward their FAFSA by January 15

for timely receipt of funds. Students musttake additional steps to confirm the awardsbased on the results of the FAFSA. Specificinstructions will accompany the award letter.

ApplicationProcedure

Notification Stern begins to mail financial aid awards toadmitted students on April l. For studentsadmitted after March 15, Stern will mailaward decisions about three weeks after theadmission decision. Awards are made for one

academic year only (fall and spring) andmay not be deferred. Typically awardsinclude eligibility for loans for all studentsand scholarships for students with excep-tional credentials. Stern also awards a limit-

ed number of donor scholarships to first-yearand second-year students who meet specificdonor award criteria.

Doctoral Fellowships and Assistantships

Stern offers research assistantships to all stu-dents admitted to the full-time doctoral pro-gram. These awards are not need-based and

do not require the submission of a financialaid application.

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Scholarships and Fellowships

Many individuals and leading business andphilanthropic organizations, recognizingthe value of investing in the future of busi-ness professionals, provide fellowships andscholarships for outstanding students. Mostof the fellowships and scholarships listed arereserved for continuing students who havedemonstrated their academic potential atStern. To be considered for Stern scholar-ships, candidates must submit their applica-tion for admission by December 1.

Dean’s Scholars. Stern awards a limitednumber of highly selective, merit-basedscholarships to admitted applicants withexceptional academic credentials, pro-fessional accomplishments, and leader-ship potential.

Amerada Hess Scholarship. Scholar-ships are awarded to one first-year M.B.A.student and one second-year M.B.A. studentwho have two or more years of work expe-rience in energy or manufacturing, or witha public accounting firm. Candidatesshould have an undergraduate degree in theengineering field, earth sciences, oraccounting/finance.

American Home Products Scholar-ship. This scholarship is to be given to afirst-year M.B.A. student majoring in mar-keting, accounting, or information systems.

Jorge Ignacio Anwandter Scholar-ship. This scholarship was established byGeoffrey Gold (M.B.A. ’91) and Americo DaCorte in memory of their late friend, JorgeIgnacio Anwandter. It was created to providetuition assistance to M.B.A. students fromLatin America who demonstrate academicmerit as well as financial need.

The Alex S. Auerbach Scholarship.The family and friends of the late Alex S.Auerbach have established this annual $300scholarship for a student demonstratingfinancial need and academic excellence.

Grace and Jules Backman Scholar-ship. One full tuition and fees scholarshipis offered to an outstanding entering studentwho shows high academic and personalachievement. This scholarship is renewablefor a second year based on the student’s sat-isfactory academic progress.

Bank of New York Scholarship. Thisscholarship was established to reward anM.B.A. student with outstanding academicqualifications and financial need. The Bankof New York participates in the selection ofthese scholars.

The Anne Hudson and Frank J.Berlin Scholarship Fund. This scholar-ship fund was created through the generosi-ty of Anne Hudson Russell Berlin in memoryof her husband, Frank J. Berlin. These schol-arships are awarded to financially needy stu-dents pursuing the M.B.A. degree.

Beta Gamma Sigma Alumni Scholar-ship. The Beta Gamma Sigma AlumniScholarship awards $100 annually to a grad-uate student in Beta Gamma Sigma who willbe enrolled for at least one additional yearand needs financial assistance.

Zenas Block Scholarship. This scholar-ship was established by Deputy Dean AvijitGhosh to honor Professor Zenas Block, a pro-fessor of management at Stern for over 20years and a prominent teacher at the BerkleyCenter for Entrepreneurial Studies. It isawarded to an M.B.A. student interested inentrepreneurship.

Jules Bogen Fellowship. This awardhonoring the memory of Dr. Jules I. Bogen,professor of finance at the Stern School, isavailable to an exceptional student concen-trating in finance. This fellowship is offeredto an advanced candidate for the Ph.D.degree. The Bogen Fellow receives tuitionplus a cash stipend for the academic year.

Mary, Catherine, and Julius Brick-man Meyers Fund. This scholarshipcomes from a bequest from the estate ofEvelyn B. Meyers in memory of Mary,Catherine, and Julius Brickman and EvelynBrickman Meyers. It is intended for worthyM.B.A. students who should feel morallyobligated to repay the money, when they arefinancially able to do so, so that the fundmay increase and benefit future students.

Dorcas E. Campbell MemorialScholarship. This scholarship was estab-lished to honor and perpetuate the memoryof Dorcas E. Campbell. It is for a womancandidate for the M.B.A. degree majoring in finance with an interest in the field ofpublic relations.

Chase Fellowships. Chase ManhattanFoundation provides fellowships to outstand-ing minority students demonstrating aca-demic excellence and leadership skills. Thestudents will be eligible for paid internshipsat Chase Manhattan Bank.

Chevron Minority Fellowship. Thisscholarship was funded by a generous con-tribution from the Chevron Corporation.Candidates for this award should be first-

year M.B.A. students who intend to major infinance and to pursue a career in the indus-trial rather than private sector.

C.I.T. John Vogel Scholarship. Thisscholarship was established by the C.I.T.Financial Corporation in recognition of JohnVogel, a former director and Stern M.B.A., fora student who has worked through under-graduate and graduate programs.

Consortium Fellowships. The SternSchool participates in the Consortium forGraduate Study in Management, an effortthat facilitates the entry of underrepresentedminorities into managerial positions.Fellowships cover full tuition and fees andare based on the applicant’s desire to studybusiness management, as well as provenaptitude, ability, and scholarship. Applica-tion for the fellowship is made directly to theConsortium; applications and informationare available from the following:

Consortium for Graduate Study inManagement200 South Hanley Road, Suite 1102Saint Louis, MO 63105-3415

Telephone: (888) 658-6814www.cgsm.org/

Deming Fellowship. This doctoral fel-lowship is funded through the generosity ofProfessor W. Edwards Deming. It is awardedto an outstanding doctoral student in statis-tics and operations research.

Mildred Elperin Scholarship Fund.This scholarship was established through abequest of Mildred Elperin. The funds assistM.B.A. students with an interest in retailing.

Belmont A. Freiwald Fellowship. Thisaward, for second-year M.B.A. students, is aresult of a gift from Belmont A. Freiwald tosupport a marketing major who has demon-strated academic excellence and needsfinancial aid.

Armando John Garville MemorialScholarships. This scholarship programwas established to help fund part-time stu-dents who are either not company-funded orreceive only limited company sponsorship.Preference is given to students with bothfinancial need and academic merit.

Dorothy Glasser Scholarship. Thisscholarship was established by Rita Glasserto support a student in advertising studies.

Gerald J. Glasser Scholarship. Thisscholarship was established with a gift fromProfessor Gerald J. Glasser, a Stern graduate

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who taught at the School until his retire-ment in 1983. Two scholarships are awardedto graduate students with financial need.

Harold Goldberg Scholarship. Thisscholarship was established by the friends ofHarold Goldberg (B.S. ’51). It is awarded to apart-time M.B.A. student who is interested inentrepreneurship.

Glucksman Fellowship Program. The L. Glucksman Institute for Research inSecurities Markets at the Stern School spon-sors five Glucksman Fellows selected fromthe first-year class to receive a stipend andconduct research with a faculty memberduring their second year of studies. Selectedoutstanding first-year students are invited toapply for the five positions.

Harry A. Hopf Memorial Fellow-ships. The Harry A. Hopf MemorialFellowship Fund provides fellowships to honor and perpetuate the memory ofHarry A. Hopf and the contributions hemade to the field of management. HopfFellows are selected annually from out-standing M.B.A. candidates pursuing studiesin management.

George Kellner Scholarship. Thisscholarship is designed to provide financialassistance to students with a parentemployed by a not-for-profit educationalinstitution, including research institutions.

Joseph Kolodny Scholarship. TheNational Association of Tobacco Distributorsestablished this scholarship in honor ofJoseph Kolodny. It is awarded to a candidatein the M.B.A. Program who specializes in thefield of market distribution.

Abraham and Julienne KrasnoffScholarship. This scholarship is designedto support semester-abroad study experiencesfor students enrolled in Stern School’sInternational Management Program. Acommittee of faculty and administrators willselect recipients.

C. Erick and Phyllis S. LarsonScholarship. This scholarship is to pro-vide assistance to a part-time student who isworking full time and not receiving fullcompany or other financial scholarship.

The Benjamin J. Levy Fellowship.This fellowship was established at the SternSchool by the partners of Salomon Brothersto honor Benjamin J. Levy. The award ismade annually to an academically superiorfull-time M.B.A. or doctoral candidate withan interest in finance.

Money Marketeers of New YorkUniversity Scholarships. The MoneyMarketeers of New York University provideseveral scholarships annually to full- or part-time students who have demonstrated highacademic achievement and show financialneed. These awards are available to studentswho have completed at least half of therequirements for the Stern M.B.A.

The Municipal Bond Club of NewYork/Albert J. Milloy Scholarship.The Municipal Bond Club of New York estab-lished this award in honor of Albert J. Milloy,one of Stern’s early distinguished professors.The scholarship is awarded to a second-yearM.B.A. student in tax and finance.

The Marcus Nadler Fellowships. TheMarcus Nadler Fellowships are awardedannually to outstanding doctoral candidatesof extraordinary professional competence.The fellowships were established by theMoney Marketeers, in memory of Dr. MarcusNadler. These awards provide financial assis-tance to qualified students interested indoing financial research as preparation forcareers in teaching, research, or business.

NASDAQ Doctoral Fellowship. TheNASDAQ Stock Market EducationalFoundation, Inc. set up this dissertation fel-lowship to support research in the area offinance or economics.

National Doctoral Fellowships. Oneor two fellowships are awarded annually toexceptional first-year doctoral students hold-ing American or Canadian citizenship.These awards provide stipends and tuition.

C. W. Nichols Foundation Fellow-ship. The Nichols Foundation has estab-lished a graduate fellowship for an outstand-ing doctoral degree candidate who partici-pates in doctoral workshops.

Paul Bailey Pizzitola Memorial FundScholarship. This scholarship has beenestablished in memory of Paul BaileyPizzitola, who attended the Stern School of Business. It is offered to a worthy M.B.A.student who has survived a life-threateningdisease; a dyslexic student; or a student who graduated from Brown University or St. Ignatius Loyola High School in New York City.

Price Institute for EntrepreneurialStudies Fellowship. This fellowship issponsored by the Price Institute forEntrepreneurial Studies. It is awarded to anoutstanding M.B.A. candidate in the second

year of study for the purpose of providingfinancial support to a student as he or shepursues an M.B.A. with particular emphasisin entrepreneurial studies.

Resident Assistantships. Resident assis-tants live in undergraduate dormitories andare responsible for organizing, implement-ing, and evaluating social and educationalactivities. Assistants also serve as peer coun-selors and sources of information for dormi-tory residents. Candidates must be single,full-time students with a current cumulativegrade point average of at least 2.5. Theyshould also possess qualities that support thesocial and intellectual development ofundergraduate students and should be will-ing to assume responsibility for managingcrises. Compensation includes room andboard for two semesters.

To obtain applications and further infor-mation, contact the following:

Office of Housing and Residence LifeNew York University33 Washington Square West, 1st FloorNew York, NY 10011-9154(212) 998-4311

Samuel Revits Memorial Scholar-ship. The family and friends of the late Samuel Revits have established thismemorial scholarship fund as a lasting trib-ute in recognition of his efforts on behalf ofthe Stern School. It is intended to assist aworthy M.B.A. student who demonstratesfinancial need.

Milton Reynolds Scholarship. Thisscholarship was established by the Rey-nolds Family Foundation in honor ofMilton Reynolds for a student majoring in marketing.

Milija Rubenzanin Fellowship. Thisfellowship, in memory of Mr. Rubenzanin, isawarded for academic excellence to a stu-dent pursuing graduate work in bankingand finance, and in need of financial aid.

Schering-Plough Scholarship. Thisscholarship was created through a generousgrant from the Schering-Plough Founda-tion, Inc. The scholarship is awarded to anM.B.A. student with proven achievement andinterest in the marketing and pharmaceuti-cal industries.

Barbara E. Smith Scholarship. Thisscholarship is named in honor of BarbaraSmith, past president of the Alumni Associa-tion and former associate dean of develop-ment. Awards are made to M.B.A. students,

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with preferences to students interested incareers in marketing.

Martin T. Sosnoff Fellowship Fund.This fellowship is made annually to a deserv-ing M.B.A. student.

Stern Scholarships. The Stern Schoolprovides a limited number of tuition schol-arships to entering students with exceptionalmerit and demonstrated financial need.

Sumitomo Bank Global FoundationScholarships. The Sumitomo BankGlobal Foundation, Inc. established thisscholarship through a special grant to Stern.The funds are awarded to M.B.A. students,preferably from Asian countries.

Joseph H. Taggart Fellowships. Thesefellowships, established to honor the formerdean of the Stern School, are awarded annu-ally to outstanding doctoral candidates.

Texaco/Stern M.B.A. Program Grant.This fund was established through a specialgrant from Texaco Inc. The scholarship isawarded to second-year M.B.A. students withexemplary academic records. Preference isgiven to undergraduate majors in engineer-ing, computer science, geosciences, andaccounting/finance.

Barbara Parker-Thompson Scholar-ship. This scholarship has been establishedto fund students with disabilities who areenrolled at the Stern School of Business.

William P. Umbs Memorial Scholar-ship. This scholarship has been establishedby Bank Leumi Trust Company of New Yorkto honor and perpetuate the memory of thefirst president of BLT Leasing CorporationSubsidiary, William P. Umbs. An award ismade to an M.B.A. candidate majoring infinance and banking who has demonstratedsuperior academic achievement and is inter-ested in a career in banking or leasing.

Unilever Scholarship. This scholar-ship is awarded to a first-year M.B.A. student who demonstrates financial need.Unilever participates in the selection processof this scholar.

United Parcel Service Scholarship.This scholarship was established to encour-age young men and women with exception-al potential to specialize in retailing at thegraduate level. Scholarships are awarded tostudents who promise to make constructivecontributions to retailing through researchand writing.

Morton Weiss Scholarship. This schol-arship was established to support a studentinterested in the securities field.

Paul I. Willensky Fellowships. Thesefellowships have been made possiblethrough the generosity of Paul I. Willensky.They are awarded to outstanding advanceddoctoral candidates pursuing dissertationresearch. First priority is given to candidatesin economics, finance, or statistics and oper-ations research.

David Wood Memorial Fellowship.The officers and members of the MunicipalBond Club of New York and the MunicipalForum of New York, to honor and perpetuatethe memory of David M. Wood, have estab-lished this scholarship at the Stern School. Itis awarded to an outstanding M.B.A. or doc-toral student in finance who desires a careerin municipal finance. The stipend awardedunder this scholarship is up to $1,500 tuitionassistance for the academic year.

Larry and Carol Zicklin M.B.A. MeritScholarship. This scholarship fund wascreated through the generosity of Larry andCarol Zicklin. It provides tuition assistance toM.B.A. students based on academic merit.

Graduate Fellowships and Teaching Fellowships

The Stern School of Business offers graduateassistantships and teaching fellowships toqualified M.B.A. students who have complet-ed at least 24 credits, are registered for atleast 6 credits, have grade point averages of2.5 or above, and are in good academicstanding. These positions are limited innumber and competitive. A fellowship orassistantship involves an average of 10 hours

of work per week for 15 weeks, provides par-tial tuition credit during the semester inwhich the student is employed, and isapplied directly to the student’s tuition.Students who wish to serve as graduate assis-tants or teaching fellows are responsible forsecuring these positions by contactingdepartments that have approved positions.(Note that graduate assistants and teaching

fellows must pay any portion of tuition andfees not covered by tuition remission by the payment deadline, are not permitted to use the Deferred Tuition Plan (50/50),and may have their loan eligibility affected.)For a complete set of policies and guidelines, please visit our Web site atwww.stern.nyu.edu/deans/gradjobs.

New York State Tuition Assistance Program (TAP)

TAP awards are subject to funding from NewYork State. Contact either M.B.A. FinancialAid at 44 West Fourth Street, Suite 10-160, orthe University Office of Financial Aid at 25West Fourth Street for current information.Legal residents of New York State enrolled ina full-time degree program of at least 12credits, or the equivalent, per semester maybe eligible for awards under this program.The award varies depending on income andtuition costs.

Students applying for TAP must do so viaa FAFSA application, or they may contact theNew York State Higher Education ServicesCorporation (HESC) at 1-888-NYS-HESC (1-888-697-4372) for an express TAP appli-cation. TAP change forms are available at

the HESC Web site at www.hesc.com. Returnthe completed application as instructed. Do not send the forms to NYU.

If you receive a TAP award for the fall orspring semester, you will be given a credit onyour Bursar Statement of Account. Credit isnot extended for the summer term becausethe state of New York defers payment on theseawards. Students who are registered as halftime for the summer will receive their TAPaward at the end of the following year, if eli-gible. Students registered as full time willreceive payment at the end of the fall semes-ter of the same year.

A student who has tuition remissionprivileges from the University may be eligiblefor TAP funds. Consult the Bursar’s Office,

25 West Fourth Street, for further informa-tion. Students may receive TAP assistance fora maximum of four years of undergraduatestudy (or five years in an approved five-yearbaccalaureate program) and four years ofgraduate study, but not for more than eightyears of combined graduate and undergrad-uate study. They must also fulfill all staterequirements for award eligibility, includingattendance, academic progress, programpursuit, and income analysis. For furtherinformation, write to the following:

Division of Awards and Loan ServicesNew York State Higher Education ServicesCorporation99 Washington AvenueAlbany, NY 11225

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Subsidized Stafford Student LoanProgram (SSL). This is a long-term, low-interest loan. Private lenders (banks, savingsand loan institutions, credit unions) provideStafford Loans guaranteed by state and fed-eral government based on certification ofeligibility by New York University. The subsi-dized limit is $8,500 per year, and eligibilityis based on financial need.

Repayment is deferred until six monthsafter students graduate or cease to beenrolled at least half time (6 credits). No interest accrues during this defermentperiod. (For all borrowers, the interest ratewill be variable with a cap of 8.25 percent.)Students who previously borrowed under theFederal Stafford/GSL program should staywith the same bank for their graduate loans,if possible.

Lenders must disburse all loans in twoequal installments. The federal governmentcharges a 3-percent origination fee that isdeducted from each disbursement. The typi-cal repayment period is 10 years.

Unsubsidized Stafford Student LoanProgram. The terms of this loan are thesame as the subsidized Stafford except thateligibility is not based on financial needand interest accrues during the defermentperiod. Interest begins accruing as soon asthe lender disburses the loan. Students maychoose to have the accrued interest capital-ized (added to the principal balance) or tomake periodic payments. The total subsi-dized and unsubsidized Stafford limit is$18,500 per year.

Private Educational Loans. Some stu-dent may find it necessary to borrow throughprivate loan programs to meet a portion oftheir educational expenses. Note that all pro-grams require applicants to have a goodcredit history and may require a creditworthycosigner. International student loans, whichdo not require U.S. citizen cosigners, are alsoavailable. These loans were exclusivelydesigned for New York University students.For more information on the terms of vari-ous programs, visit our Web site atwww.stern.nyu.edu/mba/finaid.

For those who are eligible for federalloans, students will receive award letters thatwill include private loan eligibility. However,students may choose another private loanprogram. Applicants must contact the alter-nate private loan program directly to requestmore information and an application.

Student Loan Programs

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DECODING COURSE NUMBERS

Course Number: BXX.CDEE.FF (e.g., B40.2334.10)B = School (B = Stern School Graduate Division)XX = Department or area (see below)C = Course level (2 = beginning or intermediate; 3 = advanced or specialized)D = Number of credits (3 = 3 credits; 1 = 1.5 credits)EE = Number assigned by department to differentiate courses FF = Section number (indicates time, day, year, etc.; see below)

Course Designator (BXX): Section Number (FF):B00 = Noncredit Workshop 10-19 = Evening class, fallB01 = Core 30-39 = Evening class, springB02 = Capstone Core 50-79 = Evening class, summerB10 = Accounting 01-09 = Day class, fallB20 = Information Systems 20-29 = Day class, springB30 = Economics 40-49 = Day class, summerB40 = Finance 00, 0P = Weekend class (any semester)B45 = Management Communication 1A-1D = Alternate delivery, fall semesterB50 = International Business 2A-3D = Alternate delivery, spring semesterB55 = Interarea 5A-7D = Alternate delivery, summer semesterB60 = Operations Management 0A-0F = Alternate delivery, weekend (any semester)B65 = Management and Organizational Behavior S1-S4 = Alternate delivery, spring break minisemesterB70 = Marketing T1-T4 = Alternate delivery, May minisemesterB85 = International Management Program U1-U9 = Alternate delivery, August minisemesterB90 = Statistics and Operations Research W1-W9= Alternate delivery, winter break, January minismesterB95 = Taxation and Business Law

Things to Know About Courses

Registration and Matriculation

efore attending classes, all students mustregister through the Office of Records andRegistration at designated registration

periods. Students must register separately for each term and pay their tuition and fees according to the payment schedule as outlined by the Stern Bur-sar’s Office. Students are required to familiarizethemselves with course prerequisites and programrequirements and may be asked to withdraw if theyhave improperly registered.

B

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CLASS MEETING TIMES

M=Monday; T=Tuesday; W=Wednesday;R=Thursday; F=Friday; S=Saturday;U=Sunday

3-Credit Weekday Classes*80 minutes, twice a week

3-Credit Evening and WeekendClasses*160 minutes, once a week

1.5-Credit Classes (Minicourses)80 minutes, once a week for semester or 160minutes, once a week, for first or secondhalf-semester

Alternate Delivery Classes

Minisemester CoursesMeet intensively when regular semesterclasses are not in session.

Distance Enhanced CoursesMeet during regular semester for reducednumber of 160 minutes and includedistance-learning elements.

* Noncore courses are open to all Stern graduatestudents, regardless of meeting time, when space isavailable. Full-time students have priority for weekdayclasses and part-time students have priority for evening,weekend, and minisemester classes within a gradua-tion cohort.

SCHEDULE AND FACILITYCHANGES

Any change in the schedule or the assignedinstructor will be posted on the bulletinboards at the Stern School and on-line atwww.stern.nyu.edu/registrar. Studentswho have registered for a class in which thereis a change, will be notified by E-mail.

INTERAREA (B55) AND SWING COURSES

Course Course May Count Toward Major Number Title in the Following:

B20.3336 Data Mining and Knowledge Systems Information Systems, Statistics and Operations Research

B20.2318 Information Technology and Strategic Management Information Systems, Management

B40.3349 Equity Markets: Trading and Structure Finance, Information Systems

B40.3101 Stabilization and Growth in Emerging Markets Economics, Finance

B60.2127 Operations Consulting: Resource Management Operations Management, Statistics and Operations Research

B50.2397 Management Simulation Management, (International Business)

B60.2306 Supply Chain Management Marketing, Operations Management, Statistics and Operations Research

B60.2307 Operations Consulting: Design of Operations Operations Management, Statistics and Operations Research

B60.3355 Operations Strategy Management, Operations Management

B60.3356 Tech Innovation and New Product Development Management, Operations Management

B60.3357 Service Operations and Strategy Management, Operations Management

B60.3379 Environmental Assessment, Management, and Strategy Management, Operations Management

B65.3309 Global Business Consulting Management, other majors by permission of instructor

B65.3331 Competitive Advantage from Technology Information Systems, Management

B65.3335 Patterns of Entrepreneurship Management, Marketing

B70.2325 Advanced Internet Marketing and Entrepreneurship Information Systems, Marketing

B90.2306 Supply Chain Management Marketing, Statistics and Operations Research

B90.3355 Data Mining in Finance Finance, Information Systems, Statistics andOperations Research

B55.2305 Prospects for Economic Growth Any Stern major

B55.2310 Managing Financial Businesses Economics, Finance, Information Systems, Management

B55.2350 Models of Leadership Any Stern major

B55.3310 Stern First: Internal Consulting Program Information Systems, Management, Marketing, Operations Management

B55.3320 Managing Investment Funds Accounting, Finance, Management

B55.3330 Field Studies: The New Economy Information Systems, Marketing

B55.3338 Electronic Commerce Information Systems, Marketing

B55.3380 Managerial and Organizational Cognition Economics, Information Systems, Management

Interarea and swing courses can counttoward any one of the majors designated forthat course, if a student makes arrange-

ments through an adviser. Only one inter-area course or swing course with a nonma-jor designator may be applied to any one

major. Swing courses are included in themaximum of 18 credits per course designa-tor, as indicated in bold.

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Immunization New York State law now requires studentsattending colleges and universities withinthe state to have immunity or be immunizedagainst measles, mumps, and rubella (Ger-man measles). The law applies to all stu-dents born after December 31, 1956.

Immune status will be checked as part of the registration process. Students whohave not provided proof of proper immunity

will be required to do so before registering.Proof of immunity or immunization mustbe provided to the New York UniversityHealth Center, 726 Broadway, 4th Floor, New York, NY 10003-9580. Proof may beprovided by submitting the required form ora letter or other documentation from adoctor or health care provider. Forms are mailed to all new students in their

admissions material and are also availablein the Office of Records and Registration.Students who do not have proof of immu-nity must be immunized. Immunizationsmay be provided at a number of sources,including the University Health Center. For further information, call the UniversityHealth Center at (212) 443-1199.

The Office of Records and Registrationmails registration materials to all contin-uing degree and certificate candidates.Continuing M.B.A. students are expected to register using the Web registration system

(http:/ais.stern.nyu.edu), prior to thebeginning of each term according to thecalendar specified in the registrationinstructions. If they miss the deadline, con-tinuing students may also register in person

during the late registration period at thebeginning of each term. (Dates to beannounced in the registration mailing.)Langone Program students who are not ableto use the Web system may register by mail.

For Continuing M.B.A. Students

The Office of Records and Registration sendsregistration material to all new students.New students in the full-time block programmust register by mail by July 13.There is no option to register later.

New students in the Langone Programand students in other programs who prefernot to register in advance may registerduring the in-person registration period atthe beginning of the term. (Dates to be

announced in the registration mailing.) Allstudents who have been admitted must indi-cate their intention to enroll by paying anenrollment deposit. They should be preparedto show proof of this when they register.

For New M.B.A. Students

M.B.A. and M.S. students must com-plete the following:

• At least one course in the semester forwhich they are admitted; those who do not,must reapply for admission in a subsequentsemester.

• At least 6 credits each academic year.

• At least 24 credits within the first threeyears.

• All requirements for the degree within thefollowing number of years from initialenrollment in the program specified:

- M.B.A.: a maximum of six years.- M.S., Statistics and Operations

Research: a maximum of five years.- M.S., Information Systems, part time:

a maximum of three years.- M.S., Information Systems, full time:

a maximum of one year.

Students who are unable to maintainthis pace are not permitted to con-tinue in their degree program. Notethat although students are required to meetonly these minimums to remain in the pro-gram, it is not possible to complete theM.B.A. degree requirements within the six-year limit at the minimum rates of progress.

Program ProgressRequirements

Students must maintain a minimum gradepoint average while matriculated in degreeprograms. (For information on computingthe gradepoint average, see the Examina-tions and Grades section.) The following areminimums students must meet:

• 1-14 credits: if GPA is less than 2.1, studentis placed on academic probation.

• 15-29 credits: if GPA is less than 2.1, stu-dent is dismissed from the program.

• 30 or more credits: if GPA is less than 2.3,student is dismissed from the program.

• 60 credits completed: if GPA less than 2.5,student is not eligible to graduate.

When grades are available after each semes-ter, students who do not meet the minimumrequirements are notified by their program’sadvising office, on behalf of the AcademicStanding Committee, that they are onacademic probation or that they may notcontinue in the program. Students who are dismissed from the program and who have registered prior to receiving theseletters are withdrawn from their courses and given a full tuition refund. (Students

with low averages are urged not to registerfor the next term if there is any chance theirgrade point average will fall below theseminimums when all the current semester’sgrades are in.)

Doctoral candidates must maintain atleast a 3.0 average. For complete details, seethe Ph.D. handbook.

Pass/No Credit grades do not affect a stu-dent’s academic average. For information oncomputing the grade point average, seeExamination and Grades section.

Scholastic Requirements

105105

Doctoral Students

Students in the Ph.D. Program must havetheir registration approved by obtaining the

signature of a Doctoral Office staff member(40 West Fourth Street, Room 8-11).

Students in Joint Degree Programs

Students in joint degree programs shouldregister through the NYU school in which themajority of credits will be taken that semes-ter. When registering through Stern, joint

degree students must have their registrationcard reviewed and approved by the Sternjoint degree adviser before submitting themto the Office of Records and Registration.

When registering through other schools forStern classes, or making changes to the Sterncourse selection, students must notify theStern joint degree adviser of their intentions..

Block Scheduling for Full-Time M.B.A. Students

After the enrollment deposit is received, allnew students in the full-time M.B.A. Pro-gram will be sent a list of fall term corecourses and the block sections for which theymust register. They must register for allcourses on the list except those for which

they have been authorized to substitute. Thedaytime sections of the core courses arereserved for first-year block students, and theevening sections of these courses are reservedfor part-time students only. Additionally, onecore course is required during the second

year of study. Block students may take thiscourse in either semester of the second yearof study and in the daytime sections reservedfor full-time block students.

Class Hours FALL AND SPRING TERMS

A 3-credit day course customarily meets for80 minutes twice a week. Classes generallymeet Monday and Wednesday or Tuesdayand Thursday. Course meetings are general-ly from 9-10:20 a.m., 10:30-11:50 a.m., and

1:30-3:50 p.m. Evening classes generallymeet for 160 minutes, from 6-8:50 p.m.,once a week. Classes reserved for part-timestudents meet on Saturdays, 9-11:50 a.m.and 12:20-3:10 p.m.

SUMMER TERM

A 3-credit course during the summer termmeets for 200 minutes once a week from 6-9:20 p.m., Monday through Thursday. The maximum number of credits a studentcan register for in the summer is 9.

When part-time M.B.A. students register fortheir first semester at Stern, they become partof a core group—the group of students withwhom they take a section of either ManagingOrganizations or Understanding Firms and

Markets in the first semester. In the secondsemester, they have the option of remainingwith their core group to take another corecourse. During Pre-Term, students meettheir core groups, form study groups, and

participate with them in workshops. In thefirst week of classes, students elect core groupleaders, and, during the semester, have theopportunity to socialize, study, network, andplan events with their core groups.

Core Group Scheduling for Langone ProgramStudents

Degree candidates must maintain continu-ous matriculation throughout the durationof the program. Students are requiredto register each fall and springsemester, whether or not they aretaking courses. (Summer semesters are optional.)

Students who have taken courses towardthe Stern M.B.A. for at least one semestermust apply in writing (letter or E-mail) for aleave of absence from their program’s advis-ing office, in advance of any fall or springsemester for which they are unable to enrollor during which they drop or withdraw fromall courses. The application for a leave ofabsence must include (a) the reason a leaveof absence is necessary; (b) the semester inwhich enrollment is expected to resume; and(c) a detailed academic action plan fordegree completion upon return from the

leave of absence. If a leave of absence isgranted, students must register and pay a feeto maintain matriculation. (See Tuition andFees section.) The fee is calculated on a per-semester basis and must be paid at the timethe leave is granted. Leaves of absence areincluded in the time limit for completion ofall degree programs. Students are not eligi-ble to continue in their degree programsunless a leave of absence has been grantedand the matriculation fee has been paid.

Ph.D. and M.S. students who will not beenrolled for courses must seek approval fromtheir degree program office. When approvalis granted, students must maintain matricu-lation by paying a fee calculated on a semes-ter basis (see Tuition and Fee section).Paying a matriculation fee does not extendthe time limit required for completion of thedegree program.

Maintaining continuous matricula-tion (a) reserves a student’s place in thedegree program as a continuing student; (b) ensures that the student will continue to receive registration materials and anyother mailings to enrolled students; (c) allows access to University facilities andservices, such as the library and healthservices; and (d) enables application forstudent health insurance, if needed.

Leaves of absence are not granted tostudents who find they cannot begin theprogram in the semester for which they were admitted. M.B.A. students who wish todefer their first enrollment must contactM.B.A. Admissions for information on anabbreviated reapplication process for a sub-sequent semester. Students on other degreeprograms should consult their respectiveprogram office.

MaintainingContinuous Matriculation/Leaves ofAbsence

106

Maximum Credits in a Major

The maximum number of credits an M.B.A.student is permitted to take within anydepartmental course designator is 18,regardless of substitutions. (This maximumdoes not apply to core courses.) For the

purposes of this limit, swing courses arecounted in the departments by which theyare offered, as indicated by their course des-ignators. If more than 18 credits areearned in a single course designa-

tor, they will not be consideredamong the 60 credits required for the M.B.A. degree, but will becounted in the cumulative gradepoint average.

Transfer Credits

Effective September 1, 1998, the Stern SchoolM.B.A. Program does not accept transfercredits earned before matriculation in theM.B.A. Program at Stern. Students who were

enrolled in another NYU division or a Sternmaster’s degree program prior to admissionto the Stern M.B.A. program, must completeall 60 credits of the Stern M.B.A. Program

after matriculation. (Students who pass pro-ficiency exams may substitute electives forthose core courses.)

FULL-TIME BLOCK M.B.A.STUDENTS

Full-time block students generally carry acourse load of 13.5 to 15 credits per semesterfor the 4 consecutive semesters (fall andspring only) to complete the 60 credits tomeet the degree requirements. The onlyexception is the first semester when the stu-dents carry 16.5 credits. Students who wish totake additional credits must meet with anacademic adviser.

LANGONE PROGRAM STUDENTSWHO ENTERED SPRING 2000 OR LATER

Langone Program students who entered inspring 2000 or later, may register for up to 9 credits per semester (fall, spring, andsummer). Classes taken during minisemes-ters do not count toward the 9-credit maxi-mum. On rare occasions, part-time studentsface unusual personal or professional cir-cumstances that may justify accelerating thepace of course completion for a semester.Students who feel they are in such a situationshould schedule an appointment with anacademic adviser and may then petition to accelerate their programs. In excep-tional cases, they will be granted permissionto take more than 9 credits for a singlesemester during completion of their pro-

gram of study at Stern. To be considered for acceleration, a student must have com-pleted all core courses (except B02.3101Professional Responsibility) and submit a formal “Application to Accelerate the Part-Time M.B.A. Program,” which containsthe following: 1. A statement of the circumstances prompt-ing the request.2. The student’s current GPA and why it willnot be compromised by acceleration.3. A detailed plan of study for completion ofthe remainder of the program, including thenumber of credits requested.4. A career development plan that includesshort and long term career goals and adetailed plan for achieving them.

The application must be submitted in writ-ing (E-mail preferred) to the LangoneProgram Academic Review Committee, nolater than two months prior to the beginningof the term for which an accelerated courseload is requested. Approval to accelerate isgranted for a single semester.

LANGONE PROGRAM STUDENTSWHO ENTERED PRIOR TOSPRING 2000Part-time students who entered the programprior to January 2000, may take a maximumof 15 credits each fall and spring semester,

and a maximum of 9 credits in the summer.Classes taken during minisemesters do notcount toward the maximums. Students whowish to take more than the maximum num-ber of credits in a semester must submit aformal request for a credit overload in writ-ing (E-mail preferred) to the LangoneProgram Academic Review Committee, priorto registering. The credit overload requestmust contain the following:1. A statement of the circumstances prompt-ing the request.2. The student’s current GPA and why it willnot be compromised by an overload. 3. A detailed plan of study for completion ofthe remainder of the program, including thenumber of credits requested.4. A statement of understanding that if thecredit overload is approved (a) the School ismaking an exception due to unusual cir-cumstances; (b) the workload will be verychallenging; (c) the standard tuition refundand scholastic standing policies continue toapply; and (d) tuition will be charged at theapplicable per credit rate.

M.S., PH.D. AND EXECUTIVEM.B.A. STUDENTS

Please consult with your program officeabout the applicable per-semester credit loadmaximum.

Credit Loads

107

M.B.A. students who demonstrate proficiencyin the following core course subjects maysubstitute elective credits for those courses:

B01.1303 Understanding Firms and Markets

B01.1305 Statistics and Data Analysis B01.1306 Financial Accounting and

Reporting B01.2123 Global Business Environment I:

Trade and Direct Investment

B01.2125 Global Business Environment II: International Macroeonomics and Finance

B01.2310 Marketing Concepts B01.2311 Foundations of Finance B01.2114 Competitive Advantage from

Operations B01.2119 Fundamentals of Information

Technology/E-Commerce

Substitution is not available for other corecourses and is by exam only, except in thecase of Financial Accounting and Reporting.Substitution for Financial Accounting andReporting may also be granted to studentswho show proof of having passed the AICPA’sexam for certified public accountants.Sample proficiency exams are available onthe Web advising pages. Proficiency examsmay be taken only once and grades may notbe appealed.

Core CourseSubstitutionsand Proficiency Examinations

CERTIFICATION OF FULL-TIMEAND HALF-TIME STATUS

Certification of full-time or half-time statusmay be necessary for students for reasonsincluding (a) calculation of tuition and fees;(b) eligibility for financial aid; (c) deferral ofstudent loan repayment; (d) renewal of astudent visa; or (e) eligibility for University-sponsored medical insurance. To be certifiedas full time for these purposes in a givensemester, a student must register for at least12 credits of course work. To be certified ashalf time, a student must register for at least6 (but fewer than 12) credits of course workin a semester. Ph.D. candidates may be certi-fied as full-time students through a combi-nation of full-time research, preparation,graduate or research assistantships, intern-ships, and course work totaling 40 hours per week (the equivalent of 12 credits).International students taking English profi-ciency courses in addition to course work atthe Stern School may also be certified as fulltime. A student may not be employed full-time and request full-time student status.

DESIGNATION OF PROGRAMSTATUS

For purposes of program structure, time, and credit load limits, some program poli-cies and procedures, and access to someclasses and services, student status is deter-mined by the program to which the studentwas admitted and in which the student wasmatriculated.

FULL-TIME BLOCK M.B.A.PROGRAM

Students who matriculated in the Full-TimeBlock M.B.A. Program take 16.5 credits in thefirst semester, 15 credits in the second semes-ter, and 13.5 credits or 15 credits in the final

two semesters. Students are block-scheduledfor core courses. Daytime core courses arereserved exclusively for full-time M.B.A. stu-dents. (Full-time students have priority forweekday elective classes, and part-time stu-dents have priority for evening, weekend,and minisemester classes, within a gradua-tion cohort.) Students in the Full-TimeBlock M.B.A. Program attend classes duringfall and spring semesters, take a summerinternship, and graduate at the end of theirsecond spring semester. They have access toall Office of Career Development services forthe purposes of securing a summer intern-ship and a full-time employment after grad-uation, with the exception of programsdesigned for the Langone Program. (Seesection on Office of Career Development for details.)

Part-time employment for students in the full-time program is considered sec-ondary to academic work at the SternSchool, is strongly discouraged during thefirst year, and in no case should exceed 10 to15 hours per week.

Policies and procedures applying to full-time block M.B.A. students can be foundon the Web www.stern.nyu.edu/mba/advising.

THE LANGONE PROGRAM: A PART-TIME M.B.A. FORWORKING PROFESSIONALS

Students who matriculated in the LangoneProgram typically take 6 credits per semester,in the evening and on weekends, and addi-tional courses during minisemesters. Moststudents graduate in three to four years. Corecourses should be completed within the firsttwo years in the program and must be com-pleted or in progress before students takeadvanced courses. Evening, weekend, andminisemester core courses are reserved

exclusively for Langone Program students.(Part-time students have priority forevening, weekend, and minisemester classes,and full-time students have priority forweekday elective classes, within a graduationcohort.) Students in the Langone Programhave access to most Office of CareerDevelopment services for the purposes ofsecuring a new full-time job after gradua-tion. (See section on Office of CareerDevelopment for details.)

Policies and procedures applying toLangone Program students can be found onthe Web at www.stern.nyu.edu/Langone/advising.

CHANGE IN M.B.A. PROGRAM STATUS

Prior to First Enrollment. Prior toenrolling for the first time, students whowish to change programs must petition thechairperson of the Admissions Committee inwriting. Petitioners will be reevaluated by theM.B.A. Admissions Committee, and an inter-view may be requested. Petitions are reviewedafter all regular applications to the programthat were received by the application dead-line are evaluated. Permission to changestatus is not guaranteed, is rarely granted,and requires forfeiting the original offer ofadmission (i.e., students whose petitions fora change of program are rejected are notguaranteed places in the program to whichthey were originally admitted).

After first enrollment. Because there isno way to incorporate them in the full-timeblock program once the first semester in theprogram has begun, Langone Programstudents cannot change from the part-timeprogram to the Full-Time Block M.B.A.Program once they have enrolled. Studentsin the full-time block program may petitionto the Academic Review Committee for a

Definitions of Student Status

change to the Langone Program for anysemester after their first in the M.B.A. pro-gram. The petition must include (1) a state-ment of the circumstances prompting thisrequest; (2) a proposed plan of study forcompletion of the remainder of the program;(3) a detailed career management plan; and(4) for international students, confirmationof either an H- or other applicable visa toreplace the F-1 visa status (a F-1 visa isgranted to only full-time block students).

The Committee will review the petitionand the student’s academic record, and thestudent will be notified of the decision inwriting.

Once the request is granted, the studentbecomes a Langone Program student withall attendant privileges, responsibilities, andrestrictions indicated in the section on theDefinitions of Student Status including butnot excluded to restricted enrollment andrevised OCD services. Once transferred, thestudent may not revert to the full-time blockprogram again.

For additional information, please visitwww.stern.nyu.edu/mba/advising.

Eligibility for Office of CareerDevelopment Services. Effective Sep-tember 1, 1996, a student in the part-time program is eligible to participate in on-campus interviewing for full-time posi-tions ONLY in the year of graduation. Thepart-time student must have a minimum of30 credits by September of the academic yearin which he/she will graduate. Part-time stu-dents who are eligible for on-campus inter-viewing must attend a series of career man-agement workshops and other prescribedactivities.

Effective September 1, 1997, any per-son who enrolls in the part-time M.B.A.Program is ineligible to participate in thebidding process for open (noninvitational)on-campus interview schedules.

In addition, only full-time block programfirst-year students will be eligible to partici-pate in on-campus recruitment for summerintern positions.

All other services of the Office of CareerDevelopment (OCD), including individualcareer counseling, job postings, and accessto OCD publications and the CareerResources Center, are available to students inthe part-time program.

WITHDRAWAL FROM STERN

Students considering withdrawal for any rea-son are encouraged to discuss their circum-stances and options with a program adviser.Stern is anxious to do all it can to assist stu-dents having difficulty and to facilitate theircontinuing in the program.

Students who have begun to take coursesand then decide to withdraw from theirprogram should send formal notification oftheir intent, in writing, to their program’sadvising office. This will result in appro-priate adjustments to the student’s recordsand will eliminate future mailings. Pleaserefer to page 112 regarding refunds and page 96 regarding readmission policies andprocedures.

AUDITING CLASSES

Students may audit classes by request at thetime of registration or within the first fiveweeks of the semester. (Auditor status cannotbe revoked once it has been requested.) Fulltuition and fee charges apply.

VETERANS STATUS ANDBENEFITS

Various Department of Veterans Affairs (VA)programs provide educational benefits forspouses, sons, and daughters of deceased orpermanently disabled veterans as well as for

veterans and in-service personnel, subject tocertain restrictions. Under most programsthe student pays tuition and fees at the timeof registration but will receive a monthlyallowance from Veterans Affairs.

Veterans with service-connected disabili-ties may be qualified for educational benefitsunder Chapter 31. An applicant for this pro-gram is required to submit to the Depart-ment of Veterans Affairs a letter of acceptancefrom the college he or she wishes to attend.On meeting the requirements for the Depart-ment of Veterans Affairs, the applicant will begiven an Authorization for Education (VAForm 22-1905), which must be presented tothe veterans coordinator, Office of Recordsand Registration, 44 West Fourth Street, 10thFloor, before registering for course work.

The VA usually sends allowance checksdirectly to the veteran. Veterans and eligibledependents should contact the veterans coor-dinator in the Office of Records and Regis-tration each term they want VA certificationof enrollment.

All veterans should reach the educationalobjective (bachelor’s or master’s degree, doc-torate, or certificate) authorized by the VAwith the minimum number of creditsrequired. The VA may not authorize pay-ments for credits that exceed scholasticrequirements, that are audited, or thatreceive grades without a numerical value.

Veterans may obtain an application orassistance in filing for educational benefitsin the Office of the University Registrar, 25West Fourth Street, 1st Floor.

Since interpretation of regulations gov-erning veterans’ benefits is subject tochange, veterans should keep in touch withthe Department of Veterans Affairs or withNYU’s Office of the University Registrar.

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Students must notify the Office of Recordsand Registration of the following:

1. Any change of address.

2. Withdrawal from any course (giving dateof last attendance).

3. Complete withdrawal from school (givingdate of last lecture attended).

4. Any apparent error in reported grades,registration, or credit.

Students who fail to comply with the lastthree requirements may lose certain matric-ulation rights.

Required Notifications

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Tuition and Fees

ll fees must be paid upon registration. Newstudents who register by mail must remitpayment in full with their registration

material. Students who register in person must makepayment in full at the Stern Bursar’s Office, located at 44 West Fourth Street, 10th Floor. Checks, drafts, or money orders are to be made payable to New YorkUniversity for the exact amount due. Continuing stu-dents who register via the Web or by mail must submitpayment by designated dates set by the Stern Bursar’sOffice: December 1 for spring, May 1 for summer, andAugust 1 for fall.

Students are responsible for meeting paymentspromptly and without notice from the University or the Stern Bursar’s Office. Students are responsible for making full financial arrangements for payment of tuition and fees before registering each semester.Students who are in NYU housing must include their housing charges with the tuition payment.

The unpaid balance of a student’s account is subject to an interest charge of 12 percent per annum fromthe due date until payment is received.

The Board of Trustees of New York University reserves the right to alter the schedule of tuition and fees(see page 111) without notice.

There are several ways to pay your tuition and fees in addition to cash, check, or money order.

A

Students receiving an NYU scholarship mustinform the Stern Bursar’s Office of suchscholarship. Any balance not satisfied by

the scholarship shall remain the responsi-bility of the student, payable in full uponregistration.

Scholarship

Students receiving NYU tuition remissionmust submit a properly completed andapproved Application for Tuition Remis-sion Form (available on the Web at

www.nyu.edu/hr) and enclose a check or credit card authorization for any por-tion of the charges not covered by tuitionremission.

Tuition Remission

Students sponsored by an “employer tuitionplan,” which is not remitting payment infull upon registration, must submit a letterfrom the sponsoring employer authorizingNYU to process the named student’s registra-tion; authorizing NYU to bill the sponsoring

employer for such student’s tuition and fees;and unequivocally and unconditionallypromising payment in full upon receipt of a bill. Those tuition reimbursement plansthat have conditions attached, such as butnot limited to successful completion of

course or minimum grade requirement, will not be acceptable to the Stern Bursar’sOffice as payment equivalent—the stu-dents must make full payment upon regis-tration and seek reimbursement from theiremployer on their own.

Employer Tuition Plans

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Degree candidates may participate in thisplan under the following conditions:

• Not in arrears (past due) for any NYUcharge or loan.

• Without a previously unsatisfactory NYUcredit record.

• Matriculated and registering for 6 creditsor more.

Under the Deferred Tuition Plan, an initialpayment of 50 percent of tuition, plus allspecial fees, are due in full upon registration.

Under the Deferred Tuition Plan, financialaid awards, student loan credits, and anyother type of credits given by NYU or an out-side agency cannot be used as part of the ini-tial payment. To calculate this initial pay-ment, subtract the financial aid and studentloan credits and any other type of creditsgiven by NYU or an outside agency from theTOTAL CHARGES and divide this NETBALANCE in half. THIS IS THE INITIAL 50-PERCENT PAYMENT.

The second payment of 50 percent of tuition is due in full by the date specifiedon the deferment form. A 12 percent interestfee per annum (1 percent per calendarmonth or any part of) will be charged on the unpaid balance. Failure to meet pay-ment on time will result in a penalty chargeof $25.

Deferred Tuition Plan (50/50)

Federal Student Loans

Students who are certified by the Stern Officeof Financial Aid as eligible for the federalSubsidized or Unsubsidized Stafford StudentLoan Program (SSL) will receive a loancredit pro rata, on a semester basis, from the M.B.A. Financial Aid Office within two(2) weeks from certification. This loan creditwill enable students to register without theactual loan check, which takes approxi-mately 8 to 12 weeks to arrive.

If a loan has been certified and a loan credit is not in the Stern Bursar’s Office, the student should go to the SternOffice of Financial Aid, 44 West Fourth Street,Room 10-160.

All student loan funds are sent directly tothe Office of the Bursar in the form of eithera two-party check made out to both the stu-dent and New York University or by electron-ic funds transfer (EFT). When we receiveyour check, we will write to you, notifyingyou that your check is awaiting endorse-ment. After you sign the check, it will beapplied to your account. When we receiveyour EFT, we will automatically credit youraccount, if you meet the eligibility require-ments. If there is a credit balance after all bills are paid, a refund will be maileddirectly to the student in a reasonable time.

Use of a loan credit to offset tuition pay-ment does not relieve students of their under-lying obligation to pay their tuition and fees.It is the students’ responsibility to ensure thatthe loan checks are actually remitted to theStern Bursar’s Office, with all the correctinformation to ensure proper crediting; it isthe students’ responsibility to endorse theloan checks in a timely manner; and it is thestudents’ responsibility to check on the statusof their loan directly with their bank if theyhave not received any correspondenceregarding their loan after four weeks fromthe time that the Stern Office of Financial Aidcertifies their eligibility.

Private Loan Students who have an approved loan from aprivate lender or other financial resourcesmust attach a copy of the commitment orapproval letter to the Stern Bursar’s OfficeTuition and Fees Worksheet and Charge Card

Payment Form. Proceeds from the privateloan shall be applied to the tuition pro rataon a semester basis.

Students are reminded that a loan certifi-cation by the Stern Office of Financial Aid is

neither a guarantee nor an approval of aloan from the private lender. It is the stu-dents’ responsibility to apply for and complywith the application and credit requirementof the private lenders.

Enrollment Deposit (Nonrefundable)

A nonrefundable $1,000 deposit is requiredupon acceptance for all full-time and part-time degree applicants.

This deposit is credited toward tuition forthe term of application.

Late Payment of Fees

All late tuition payments will result in a penalty charge of $25 plus a 12 percentinterest fee per annum (1 percent per calen-dar month or any part thereof) on theunpaid balance.

A fee will be charged if payment isnot made by the due date on the stu-dent’s statement.

The University reserves the right not toaccept tuition or fee payments beyond theofficial due date for such.

Returned Checks

Any student who submits a check to the bur-sar that is subsequently returned by the bankmust replace that check with a certified

check, money order, or cash payment(including all penalty fees accrued). Allensuing payments to NYU must be made by

certified check, money order, cash, or creditcards (Visa, Discover, MasterCard, AMEX).

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The University reserves the right to denyregistration and withhold all informationregarding the record of any student who isin arrears in the payment of tuition, fees,loans, or other charges (including chargesfor housing, dining, or other activities orservices) for as long as any arrears remain.

Arrears Policy

Fees and Graduation

No candidate may be recommended for adegree until all outstanding bills have beenpaid, including fines and/or charges onoverdue or lost library materials and hous-ing fees. The University cannot be responsi-ble for the inclusion in the current officialgraduation list any candidate who pays feesafter the first day of January, May, or Septem-ber for degrees in those months, respectively.Following payment, and on approval of thefaculty, the candidate will be recommendedfor the degree as of the date of the next regu-lar University Board of Trustees meeting atwhich the awarding of degrees is part of theorder of business.

Information to Holders of New York State Fellowships and Tuition Assistance Program Awards

Full-time students who hold New York StateFellowship Awards and Tuition AssistanceProgram Awards will receive credit towardtuition in the amount of their entitlement,provided they attach the Award Certificate forthe applicable term to their Stern Bursar’sOffice Tuition and Fees Worksheet andCharge Card Payment Form.

Students receiving awards after registra-tion will get a check from the University afterthe Stern Bursar’s Office has received the NewYork State payment and the Office of Recordsand Registration has confirmed eligibility.

Tuition and Related FeesApplication fee (nonrefundable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $150.00Enrollment deposit, new students (nonrefundable) . . . . . . . . . . . . . . . . . . . . . . . . . 1,000.00Tuition per term for 13 to 15 credits (part-time students) . . . . . . . . . . . . . . . . . . . . 14,300.00Tuition per term for 13 to 15 credits (second year full-time block program

students)1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,500.00Tuition per term for 13 to 15 credits (new full-time block program students)1. . . . 14,900.00Tuition per credit (1 to 12.5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,100.00Registration and services fee per term for 13 to 15 credits (nonrefundable)

Fall term2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 666.00Spring term3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 680.00

Registration and services fee for the first credit each term (nonrefundable)Fall term2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210.00Spring term3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224.00Summer term4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98.00

Registration and services fee for each additional credit (1.5 to 12.5) (nonrefundable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38.00Business Writing noncredit course (B00.2099 or B00.2055) (nonrefundable) . . . . . . 250.00Data Analysis Workshop (nonrefundable)—for Langone students . . . . . . . . . . . . . . . 250.00

Other Fees Basic Health Insurance Benefit Plan (full-time students, registered for 12 creditsor more, automatically enrolled,5,6 all others can select):

Fall term. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 463.00Spring term (coverage for the spring and summer terms) . . . . . . . . . . . . . . . . . 696.00Summer term (for students who did not register in the preceding term). . . . . . 290.00

Comprehensive Health Insurance Benefit Plan (international students with F or JVisa automatically enrolled,5,6 all others can select):


UHC Only Health Insurance Benefit Plan6 (any student can select, but must maintain other insurance):


Maintaining matriculation per year (all degrees):Fall term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00Spring/summer term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00

Late registration fee (nonrefundable)7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00Late registration fee for summer session (nonrefundable) . . . . . . . . . . . . . . . . . . . . . . 25.00Late payment of fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00All returned checks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00Doctoral dissertation microfilming and copyright . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113.001 First term M.B.A. students in the full-time block program may register for 16.5 credits without additionalcharges. Flat-rate tuition charges apply only to the 60 credit program. Courses taken beyond 60 credits will becharged at an additional per credit rate.2 Includes mandatory emergency illness and accident plan coverage for the fall term.3 Includes mandatory emergency illness and accident plan coverage for spring and summer term. 4 For a student registering for the first time in summer, a mandatory $21.00 charge will be added to the regis-tration and services fee. 5 Waiver option available.6 Students automatically enrolled in the Basic Plan can switch to the Comprehensive Plan, waive the planentirely (and show proof of other acceptable health insurance), or can select the UHC Only Plan if they haveother insurance.7 No registration or change of classes will be permitted after the third week of classes except for withdrawals.

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Refund Schedule and Refund Policy (Tuition Only)

REFUND SCHEDULE

This schedule is based on the total applicablecharge for tuition excluding nonrefundablefees and deposits.

Withdrawal before or within the firstcalendar week1 from the openingdate of the term 100%

Withdrawal within the secondcalendar week from the openingdate of the term 70%

Withdrawal within the thirdcalendar week from the openingdate of the term 55%

Withdrawal within the fourthcalendar week from the openingdate of the term 25%

Withdrawal after completion ofthe fourth calendar week of term NONE

Refunds granted for credit card chargeswill be credited to those accounts.

Registration and service fees are nonrefundable once the term

begins. The Business Writing Workshop feeis never refunded.

REFUND POLICY

The refund period is the first four calendarweeks (28 days including the first day ofclasses) of the term for which application forwithdrawal is filed. No application filed afterthe fourth week will be considered. Refundprocessing takes about two weeks.

Students who drop their courses duringthe above stated schedule periods will be refunded according to the stated refundpercentage. The effective date of any drop or withdrawal is the date the student drops the course on-line, submitsthe add/drop form in person, theletter is postmarked, or the fax isreceived (fax: [212] 995-4424).

Students wishing an exception to the pub-lished refund schedule may appeal to theRefund Committee in writing and documentthe circumstances warranting consideration.Serious illness or military service may be

considered a cause for an exception. Travelrequired for a job or other job-related issuesare not reasons for an exception to therefund policy.

Full-Time Block Program studentrequests should be submitted to M.B.A. Aca-demic Advising, Stern School of Business,New York University, Kaufman ManagementCenter, 44 West Fourth Street, Room 10-160,New York, NY 10012-1126.

Part-Time Langone Program stu-dent requests should be submitted to theLangone Program Office, Stern School ofBusiness, New York University, KaufmanManagement Center, 44 West Fourth Street,Suite 1-72/5, New York, NY 10012-1126.

1 The first calendar week consists of the first seven (7)calendar days starting with the official opening dateof the term. (Note: not the first day of the classmeeting.)

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Examinations and Grades

inal examinations are given at the end ofeach term. Students must pass the examina-tion or its substitute to receive credit for any

course. Students unable to take the final examinationbecause of serious illness should request the instructorto give an “incomplete” grade and grant permission totake a makeup examination.

A makeup examination must be taken within fivemonths from the date the course ended and may not beused to raise a final grade.

F

To determine grade point average, divide the total number of credits completed intothe total number of honor credits granted.For example, a student completing 20 credits with 50 honor credits would have agrade point average of 2.5. The grade pointaverage includes grades in all courses takenwhile registered in a particular program,whether or not they fulfill any programrequirements. Grades of “P,” “W,” or “N” are

not computed into the grade point average.A grade of “F” remains in the calculation,

even if the student retakes the course andreceives a passing grade. Courses offered inother divisions of NYU, taken through andapproved by the program advising office, areincluded in the grade point average calcula-tion. Courses taken outside of NYU that havebeen approved for transfer credit purposesare not included in the grade point average.

Computing Grade Point Average

Grades and HonorCreditsThe Stern School Grading System is as follows:

Grade Honor Description Points Value

A 4.0 Excellent

A- 3.7

B+ 3.3

B 3.0 Good

B- 2.7

C+ 2.3

C 2.0 Fair

C- 1.7

D+ 1.3

D 1.0 Work satisfying minimum requirements for credit

F .0 Failing

Stern Scholar A student in the M.B.A. Program will be des-ignated “Stern Scholar” in the term that heor she completes at least the first 30 credits ofStern Graduate Division courses with nogrades of incomplete and a grade point aver-

age of 3.7 or above. (The student becomeseligible only once in his or her career—during the semester when he or she firstcompletes at least 30 credits.)

Incomplete Grades

There are two “incomplete” grades indicat-ing that the student has not completedrequired course work but can do so outside ofclass with permission and guidance of theoriginal instructor. “Sitting in” during thefollowing semester is not permitted. Incom-plete grades lapse if the required work is notfinished in one semester from the end of thesemester in which the “incomplete” isissued, i.e., by June 1 for courses taken in thefall and by January 1 for courses taken in the spring and summer terms. Graduating

students who receive incomplete grades must complete all requirements and have a final grade submitted to the Office ofRecords and Registration by the second Friday of the month within which theyapplied to graduate. For most doctoral seminars, incomplete grades lapse if therequired work is not completed within oneyear. However, doctoral students majoring in finance must finish incomplete courseswithin six months. The two “incomplete”grades are as follows:

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IP—Course Work Incomplete. Stu-dent was passing at the time the grade wassubmitted. This grade becomes an “N” (nocredit) if the work is not made up.

IF—Course Work Incomplete. Stu-dent was failing at the time the grade was

submitted. This grade becomes an “F” if thework is not made up.

Only the instructor has the authority togrant incomplete grades. Students mustspecifically request incomplete grades fromthe instructor and fill out the Request for

Incomplete Grade form before the last day ofclass. Forms are available in the Office ofRecords and Registration.

Other Grades The following grades also have no numeri-cal value and are not included in the gradepoint average.

P—Pass. Indicates the course was passed.“P” is used for grades received while in theInternational Management Program and forBusiness Writing Workshops only.

S—Satisfactory. The grade “S” is used fordissertation seminars or to indicate that afinal grade is pending for a yearlong course.

R—Registered Auditor. Students maynot retake a course for credit in which an

“R” is granted. Auditor status should benoted at the time of registration on the regis-tration card or within the first five weeks ofclass. Auditor status cannot be revoked onceit has been requested. Students must pay fulltuition for a course taken as a registeredauditor. A grade of “R” is also assigned fornoncredit, pre-term workshops.

The next two administrative grades canbe issued only through official procedures:

W—Withdrawal. Means the student vol-untarily and officially withdrew from thecourse (after the deadline for dropping with

a refund) and received no credit. Studentsmay drop any course for which they are reg-istered and automatically receive a “W” byprocessing a program change form at theOffice of Records and Registration any timethrough the last day of the ninth week ofclass for the semester. (See exact dates in theCalendar on the inside front cover.) Studentswho receive a “W” may retake the course forcredit, provided they reregister and pay totake the course again.

N—No Credit. Used to indicate that an“IP” has lapsed.

Grades for NoncreditWorkshops

The Business Writing Workshop is graded on a Pass/No Credit basis. The Data Analysis Workshop is assigned a grade of “R” (Registered Auditor).

Grades in the International Management Program

Grades received while in the InternationalManagement Program (IMP) are not fac-tored into the student’s overall grade pointaverage. A total grade of “P” is listed on thestudent’s transcript, for the number of creditssuccessfully passed while abroad.

Repeating Courses

Grades of “F” (including those receivedfrom incomplete—“IF”—lapses) are in-cluded in the grade point average and

remain on a student’s record even after the student has repeated the course and re-ceived a passing grade. Students may not

repeat courses in which they have previouslyreceived passing grades.

Grade Reports At the end of each term, grades are posted onthe Web site, and a grade report is mailed toeach student.

Transcripts of Records

Academic transcripts will be issued free ofcharge on a student’s written request andauthorization. Applications for transcripts,certifications, and other statements shouldbe addressed to the Stern School of BusinessOffice of Records and Registration with cor-rect information on years of attendance, allNYU schools attended, and the name and

address of the official to whom the materialis to be mailed.

Under the general practice of colleges and universities, complete official transcriptsand certifications are sent directly by theUniversity, not the applicant. No partialtranscripts of University records may beissued. Once a final examination period

has begun, no transcript will be forwardedfor any currently enrolled student until allthe student’s final grades have been receivedand recorded. Please notify the Office ofRecords and Registration immediately ofany change of address.

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Annually, New York University informs stu-dents of their rights under the Family Edu-cational Rights and Privacy Act (FERPA)and the regulations relating to FERPA pro-mulgated by the Department of Education.Together, FERPA and the FERPA regulationsprovide that (a) each student has a right toinspect and review his or her educationrecords; (b) each student may request thatany such record be amended if he or shebelieves that it is inaccurate, misleading, or

otherwise in violation of the student’s rightsof privacy; (c) the University will obtain thestudent’s written consent prior to disclosingpersonally identifiable information aboutthe student from his or her educationrecords, unless such consent is not requiredby FERPA and the FERPA regulations; (d)each student has a right to file a complaintwith the Family Policy Compliance Office ofthe Department of Education if he or shefeels the University has failed to comply with

the requirements of FERPA and the FERPAregulations; and (e) each student mayobtain a copy of the University’s Guidelinesfor compliance with the Family EducationalRights and Privacy Act. These Guidelines areavailable from the Office of Academic Pro-gram Review, Bobst Library, Room 1106.Assistant Chancellor Barnett W. Hamberger,director of that office, is responsible foradministering FERPA at New York University.His telephone number is (212) 998-2310.

Family Educational Rights and Privacy Act

Access to Records Requests for record reviews at the GraduateDivision of the Stern School of Businessshould be directed to Beth Rubin, KMC, 44West Fourth Street, Suite 10-80. Students

who wish to review their records must com-plete a record request form in the Office ofRecords and Registration. The requestshould specify what records are to be inspect-

ed. Students will be notified when the recordsare available for inspection.

Amendment of Records

If a student believes that any of the educationrecords relating to her or him contain infor-mation that is inaccurate, misleading, or inviolation of her or his rights of privacy, she orhe may ask the University to correct or deletesuch information. The student may also askthat additional explanatory material beinserted in the record. Requests for amend-ment of a record or the addition of explana-tory material should be submitted at theconclusion of the record review on form

PL 93-3803, available from the appropriaterecord review officer. The reasons for therequest should be set forth on the form andshould clearly identify the part of the recordthe student wants changed and specify why itis inaccurate or misleading. There is noobligation on the part of the University togrant such a request. If the Universitydeclines to amend the records as requested bythe student, it will so inform the student, andthe student may request a hearing. The right

to challenge the contents of an educationalrecord may not be used to question substan-tive educational judgments that have beencorrectly recorded. For example, a hearingmay not be requested to contest the assign-ment of a grade. Grades given in the course ofstudy include written evaluations that reflectinstitutional judgment of the quality of a stu-dent’s academic performance. Informationconcerning hearing procedures is outlined inthe University’s FERPA Guidelines.

Disclosure of Personally Identifiable Information

Among other exceptions authorized byFERPA, prior consent of the student is notneeded for disclosure of directory informa-tion (see next section) or for disclosure toschool officials with a legitimate education-al interest in access to the student’s educa-tional record. School officials having a

legitimate educational interest include anyUniversity employee acting within the scopeof her or his University employment and anyduly appointed agent or representative of theUniversity acting within the scope of her orhis appointment. In addition, the Universitymay, in its sole discretion, forward education

records to the officials of another institution(a) in which a student seeks or intends toenroll if that institution requests suchrecords, or (b) if the student is enrolled in, orreceiving services from, that institution whileshe or he is attending NYU.

Notice Designating Directory Information

Pursuant to FERPA and FERPA regulations,New York University hereby designates thefollowing categories of student informationas “directory information.” Such informa-tion may be disclosed for any purpose, at thediscretion of the University, except as pro-vided below.*

Category I Name, dates of attendance, NYU school or college, class, previous institution(s) attend-ed, major field of study, degree(s) conferred (including dates), honors and awards (including dean’s list)

Category II Past and present participation in officially recognized sports and activities, physical factors (e.g., height, weight of ath-letes), date and place of birth

Currently enrolled students may refuse topermit disclosure of this information. To do

Arrears Policy The University reserves the right to denyregistration and withhold all informa-tion regarding the record of any student

in arrears in paying tuition, fees, loans, orother charges (including charges forhousing, dining, library, or other activities

or services) for as long as any arrearsremain.

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so, a student should complete a formrequesting nondisclosure at the Office of theRecords and Registration. A hold will beplaced on the release of directory informa-tion filed with the Registrar, which willremain in effect until the student files a writ-ten request to remove it. A request not to dis-

close directory information may apply toCategory I, to Category II, or to both, butthere cannot be selective exclusion of itemswithin either Category.

If a student does not specifically request thewithholding of directory information by filingthe appropriate University form, as indicated

above, the University assumes that he or sheapproves of the disclosure of such informa-tion. The University disclaims any and all lia-bility for inadvertent disclosure of directoryinformation designated to be withheld.* Under federal law, address information, telephonelistings, and age are also considered directory informa-tion for military recruitment purposes.

On May 31, 1988, the faculty of the Stern School of Business approved a Stu-dent Code of Conduct. This code coversguidelines regarding submission of work,

taking of exams, and use of resource facili-ties. All students are required to sign andabide by this code.

Student Code of Conduct for Ph.D. and Master of Science Programs

Discipline Students are expected to familiarize them-selves and to comply with the rules of con-duct, academic regulations, and establishedpractices of the University and of the Stern

School. If, pursuant to such rules, regula-tions, or practices, the withdrawal of a stu-dent is required before the end of the term forwhich tuition has been paid, a refund will be

made according to the standard schedule forrefunds (see page 112).

University Policy on Patents

Students offered research opportunities arereminded that inventions arising from par-ticipation in such research are governed by

the University’s Statement of Policy onPatents, available in the Faculty Handbookor from the Office of Professional Programs.

M.B.A. students, faculty, and administratorsare committed to promoting principles ofhonesty, integrity, and trust among Stern stu-dents. Therefore, prior to beginning the pro-

gram, each student is asked to commit to theprinciples of the Honor Code and the Code ofConduct, and by signing them, agrees toabide by the codes.

For a copy of the M.B.A. Honor Code andthe Code of Conduct, please visit the Web siteat www.stern.nyu.edu/mba/mjc.

M.B.A. Honor Code and Codeof Conduct

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Declared Major

Graduation Requirements

re-Commencement is the Stern School’s own graduation ceremony to be held on May 15, 2002, the day before the University

Commencement exercises. Pre-Commencement activ-ities include speakers, presentation of candidates forgraduation, and conferring of prizes and awards.A reception follows. Invitations for the 2002 Pre-Commencement will be sent to those graduating inSeptember 2001 and January 2002 and those who fileto graduate in May 2002.

Commencement is the University’s graduation cer-emony at Washington Square to be held on May 16,2002. The ceremony includes a major address, astudent valedictory, the awarding of honorary degreesto distinguished individuals, and the conferring of degrees for all 14 schools and colleges of New York University.One ceremony a year is held for September, January, and May graduates. The Stern School hosts a receptionfor alumni, graduates, and guests after Commencement.

P

The major requested on the student’sapplication is considered his/her declaredmajor. M.B.A. students who wish to

change their declared major may do so using the Stern Web Information

System (http://ais.stern.nyu.edu) underChange Major.

The maximum number of credits an M.B.A.student is permitted to take within anydepartmental course designator is 18,regardless of substitutions. (This maximumdoes not apply to core courses.) For the

purposes of this limit, swing courses arecounted in the departments by which theyare offered, as indicated by their coursedesignators. If more than 18 creditsare earned in a single course des-

ignator, they will not be consid-ered among the 60 credits requiredfor the M.B.A. degree, but will be counted in the cumulative gradepoint average.

Maximum Credits in a Major

The expected graduation date of a student iscalculated as two years after matriculationfor full-time students and four years for

part-time students. Students who expect to graduate either earlier or later shouldmake the change in their records using

the Stern Web Information System(http://ais.stern.nyu.edu) under ChangeBio Information.

Expected Graduation Date

Candidates for graduation in January must file an application for degree can-didacy in the Office of Records and Regis-tration not later than October 1 in the yearbefore their expected graduation. Candidatesfor May graduation must file no later than

February 1 of the year they expect to gradu-ate; for September graduation, the filingdeadline is June 1.

Note: M.B.A. students should file for gradu-ation during the semester in which they will

have completed the required 60 credits ofcourse work. Registration will not be allowedbeyond the semester in which the 60-creditrequirement is met, unless approved by anacademic adviser.

Application for Degree Candidacy

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Minimum GradePoint Average

In order to graduate, Ph.D. and M.S. (in Information Systems) students musthave a minimum grade point average of

3.0. M.B.A. and other degree programstudents must achieve a minimum gradepoint average of 2.5.

To be eligible to graduate, M.B.A. candi-dates must complete a minimum of 45credits at the Stern School. Students areexpected to complete the full M.B.A.Program at Stern. Ph.D. candidates must

complete a minimum of 33 credits at the Stern School.

All candidates for the Master of Science(in Statistics and Operations Research)degree must complete a minimum of 10

courses or 30 credits at the Stern School. Master of Science (in Mathematics/Statisticsand Operations Research) candidates must complete 10 courses or 30 credits in residence.

Minimum Residency Requirement

Taking Courses in Other NYU Divisions

Students may take up to 15 Stern credits of nonmajor elective courses in other NYUdivisions. Non-Stern courses must covermaterial related to business and manage-ment and should fit clearly into an M.B.A.program (e.g., language courses do notqualify). Students must receive a “B-” orbetter to receive credit toward the M.B.A. for

non-Stern courses. A 4-credit course taken in another graduate division receives 3 Stern credits; a 2-credit course receives 1.5Stern credits. A list of preapproved coursesappears on the advising pages of the pro-gram’s Web site. Students may petition theirprogram’s advising office for approval of acourse that does not appear on the pre-

approved list. The course syllabus and anexplanation of how the course will enhanceor complement the student’s program andadvance the student’s goals must be includ-ed with the petition.

Note: Students are not permitted to beregistered for courses through two divisionsof the University at the same time.

Finishing Your Degree at Another AACSB School

In extreme circumstances, students may findthey need to complete the final 15 credits of course work toward the M.B.A. degree at another AACSB-accredited (AmericanAssembly of Collegiate Schools of Business)graduate business school and may petitiontheir program’s advising office for permis-sion. Approval is rarely granted and only if(a) the student has been transferred outsidea 200-mile radius of New York City; (b) hasa grade point average of at least 2.5; and (c) has met all core and major requirements(in exceptional cases, a maximum of 3credits toward the major may be fulfilled at another institution). The following con-ditions must also be met for a petition to be considered seriously and for transfer credit to be granted upon completion of thecourse work:

1. Accredited School. The institution thestudent is planning to attend must be anAACSB-accredited graduate business school.For a complete list of AACSB schools by area,visit the AACSB Web site (www.aacsb.edu)or call their office at (314) 872-8481.

2. Acceptance Letter. The student mustsubmit a letter of acceptance from the hostinstitution.

3. Course Description: For courseapproval, the student must provide a detailedcourse description (preferably a syllabus),which includes the total number of contacthours, for every course the student intends totake for credit toward the Stern M.B.A. Thestudent should review his or her RemainingRequirements pages before selecting a trans-fer course, to make certain it can be appliedto the remaining credits required for thedegree. The advising office must approve

the content of each course and confirm thatthe course meets for an appropriate numberof hours for the number of credits that will be transferred. (To transfer as 3 Stern credits,a course must meet for approximately 37credit hours.)

4. Maintained Matriculation. The stu-dents must maintain continuous matricula-tion at Stern until the degree program iscompleted, as indicated in the section onMaintaining Continuous Matriculation/Leaves of Absence.

5. Minimum Grade. To receive transfercredit, the student must receive a grade of Bor better (B- is not sufficient) and submit anofficial transcript. (Note that grades earnedin courses transferred from non-NYU pro-grams are not included in the grade pointaverage calculation.)

Payment of Fees and CourseCompletionDeadline

Grades for all courses must be submitted tothe Office of Records and Registration, andall financial obligations must be satisfied, bythe second Friday of the month within whichyou applied to graduate.

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The Stern School recognizes outstanding per-formance by awarding the Master of BusinessAdministration and Master of Science degrees

“with distinction” to students in the top 10percent of their graduating class. Courses inthe IMP (International Management Pro-

gram) are not included in the grade pointaverage or in the calculation for distinction(see section under grading on page 114).

Graduation with Distinction

Beta Gamma Sigma

The highest national honor a student inbusiness or management at an AACSB-

accredited institution can achieve is to beelected to membership in Beta Gamma

Sigma. Students in the top 20 percent of their graduating class are invited to join.

Prizes The Alex S. Auerbach Award. The fam-ily and friends of the late Alex S. Auerbachhave established this annual memorialaward for a student, not yet graduating, whohas shown a high degree of service to theSchool and the community.

Beta Gamma Sigma Alumni in NewYork City Award. An award is presentedannually to a graduating student from eachof the metropolitan area collegiate schools ofbusiness. It recognizes outstanding charac-ter, scholastic achievement, participation in collegiate affairs, and potential in civic,business, or professional leadership.

The Dean’s Award. Each year, awards aregiven for outstanding scholarship to candi-dates who have completed all the require-ments for an advanced degree.

W. Edwards Deming Award. Givenannually by Delta Pi Sigma, New YorkUniversity’s statistics honor society, to agraduating M.B.A. student who has demon-strated excellence in statistics.

The John W. Harriman Award. Mrs.Harriman has established a prize and amedal in memory of John W. Harriman andhis contribution as vice dean in starting theday program at the Stern School. The awardgoes to a graduating full-time studentjudged to have an outstanding record andpotential in the fields related to internation-al business.

The Shigekumi Kawamura (M.B.A.’58) Award. Established in memory of ourdistinguished alumnus, member of the SternBoard of Overseers, and NYU trustee, for out-standing academic achievement in the areaof international business.

The Joseph Kolodny Prizes. TheNational Association of Tobacco Distributorshas established these prizes to honor JosephKolodny, its founder and managing director.These prizes are awarded to outstanding stu-dents majoring in marketing and management.

The Herman E. Krooss Award. Givenin memory of Professor Herman E. Krooss to the Ph.D. graduate who has com-pleted the course of studies with distinc-

tion and has presented an outstandingdoctoral dissertation.

The Ernest Kurnow Award. Given to agraduating M.S. student in statistics andoperations research who has demonstratedexcellence in the field of statistics.

The Kenneth G. Langone Award.Established by means of a generous gift byKenneth G. Langone, this award is givenannually to two students in the LangoneProgram, not yet graduating, to recognizeexemplary service to the Stern School andNYU community while working full time.

The Hector Lazo Memorial Award inMarketing. Friends and former students ofthe late Professor Hector Lazo establishedthis annual memorial award for a full-timemarketing student who has completedrequirements of the M.B.A. with highestpromise and scholarship.

The Harold W. MacDowell Award.Established to honor the memory of thelong-time director of the Stern School’sdoctoral program, a citation is awardedannually to the Ph.D. candidate who bestexemplifies qualities of and dedication to scholarship.

The Money Marketeers Interna-tional Award. The Money Marketeersaward annually a prize to an internationalstudent who has completed requirements foran advanced degree with the highestscholastic rating in banking and finance.

The Money Marketeers MarcusNadler Award. The Money Marketeersaward annually the Marcus Nadler key and aprize to a graduate student who has com-pleted requirements for an advanced degreewith the highest scholastic rating in bankingand finance.

The Money Marketeers Prize. TheMoney Marketeers award annually a prize toa graduate who has completed requirementsfor an advanced degree with excellence inthe fields of banking and finance.

The New York State Society of Cer-tified Public Accountants Award.Given to the advanced degree candidate who

has completed the curriculum required foradmission to the New York CPA examinationwith the highest general average in accounting.

The New York University AlumnaeClub Award. The Alumnae Club of theUniversity awards annually certificates ofappreciation for high scholarship and gen-eral participation in extracurricular affairsto successful women candidates for anadvanced degree.

The New York University Tax SocietyPrize. The New York University Tax Societypresents an annual award to a candidate with the highest scholarship in the field of taxation.

The Harold Price EntrepreneurshipAward. Established by the Price Institute forEntrepreneurial Studies, for a student pursu-ing an entrepreneurial career who hasattained outstanding achievement in studiesand student leadership.

School Service Awards. The dean of theStern School recognizes with awards gradu-ating students who have performed meritori-ous service to the School and the University.

The Society for InformationManagement Award. This award is pre-sented by the Greater New York Chapter ofthe Society for Information Management toa graduating student majoring in informa-tion systems who has demonstrated out-standing scholarship.

The Leonard N. Stern School ofBusiness Alumni Association Award.This award is given to the student of thegraduating class who ranks highest inachievement and scholastic attainment.

The Joseph H. Taggart Award. Thealumni of the Stern School have establishedthe Joseph H. Taggart Award to be conferredannually to a graduating student whosecontributions and service to the School andUniversity have been significant.

Westchester-Fairfield Alumni Award.An engraved pen set is awarded to the studentwith the highest grade point average in theWestchester M.B.A. Program.

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Career Development and Placement

he Office of Career Development (OCD)invites graduate business students to joinin partnership with our staff to ensure you

receive the maximum career benefits from youreducation. Of students who use our services, about 60 percent will likely find employment upon grad-uation through on-campus interviews and otheractivities connected with our office. The remaining 40 percent of our students find work as a result of amore proactive off-campus job search. Stern M.B.A.students seek opportunities in a diversity of industriesand functions from investment banking to consultingto consumer products marketing and managementcareers in entertainment.

Your relationship with OCD is a reciprocal one. We provide the tools and resources for effective job search planning and you provide the networking initiative and enthusiasm.

Office of Career Development44 West Fourth StreetSuite 5-100(212) 998-0623www.stern.nyu.edu/ocd

Office HoursMonday, Thursday 8:30 a.m.-7 p.m.Tuesday, Wednesday 8:30 a.m.-6 p.m.Friday 8:30 a.m.-5 p.m.

Career Resources CenterOffice HoursMonday-Thursday 9 a.m.-8 p.m.Friday 9 a.m.-5 p.m.Saturday noon-5 p.m.

The Office of Career Development offers awide range of services to help M.B.A. studentsin career planning and job placement.OCD’s formal on-campus recruitment pro-gram requires completion of a series ofworkshops and other prescribed activities.

Once a student has graduated, he or she is ineligible to participate in on-campus recruitment.

Any person who enrolls in the part-timeM.B.A. Program is eligible to participate in theon-campus recruitment once (for full-timeemployment only) and in the year of theirgraduation (provided they have fulfilled allrequirements).

Please note: Effective September 1,1997, any student who enrolls in the part-time program is ineligible to participate inthe bidding component of on-campusrecruitment. In addition, part-time studentsare not eligible to garner summer intern-ships through the on-campus recruitment.

OCD services can be divided into threebroad categories: recruiting and job place-ment; career counseling; and the CareerResources Center.

Recruiting and Job Placement

Students who use the services under therecruiting and job placement umbrella find their desired jobs through on-campusinterviews, job postings, and other proac-tive processes.

Each year corporate representatives cometo NYU Stern during the fall and springsemesters to interview graduating students

for full-time employment; also in the spring,they interview first-year, full-time M.B.A.students for summer intern positions. Mostof these companies host corporate pre-sentations in the early fall in order to shareinformation about their firms’ activities andstrategies and to discuss the essential workskills and lifestyle considerations unique to

their firms’ corporate cultures. Cosponsoredby Stern student clubs, these presentationsare particularly useful for helping students to develop a sharper career focus throughnetworking opportunities.

To ensure that corporate recruiters havethe opportunity to review the résumés ofStern students, OCD publishes résumé

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books that are indexed by students’ areas of interest, language skills, internationalwork authorization, professional licenses,

and other categories. Students résumés are also available on-line in a passwordprotected site.

After on-campus recruiting is over, OCDprovides résumé collections in order to fulfilla company’s individual hiring needs.

Career Counseling

Through individual career counseling, stu-dents receive personalized assistance indeveloping their career goals and job searchstrategies; writing résumés and cover lettersas marketing documents; and preparing for interviews.

Through the Career Management Series(CMS), for full-time students and the Part-Time Career Management Series (PTCMS)for part-time students, the counseling staffinstructs students on how to conduct asuccessful job search. The CMS and PTCMS

are comprised of a skills and values assess-ment/career goal definition, alumni and/orstudent discussion panels; workshops cover-ing résumé writing; informational inter-viewing and networking; the proactive jobsearch; and interviewing skills.

Career Connections is a valuable programcreated by the counseling staff in order toassist those students who do not obtain afull-time or summer placement throughformal recruitment. Students attend a seriesof strategy meetings to explore the job search

process outside of on-campus recruiting.One of the most valuable services run by

OCD, the Career Advisory Program (CAP) isdesigned to provide M.B.A. students anopportunity to meet with successful corpo-rate representatives and Stern alumni for aninformational meeting. These corporate rep-resentatives share their knowledge, insight,and experiences with students, helping tobridge the gap between classroom theory andthe realities of the business world.

The Career Resources Center

The Career Resources Center (CRC), locatedon the sixth floor of the Kaufman Manage-ment Center, houses a Bloomberg terminal;annual reports and recruiting literature onhundreds of companies; volumes of job-search and industry-related reference books;

a job postings binder; videotapes of most cor-porate presentations; and the Career Man-agement Series and other OCD-sponsoredworkshops. The CRC continually updatesand increases subscriptions and business ref-erences to reflect students’ career interests.

OCD, in conjunction with the NYU Sterncomputing department, has provided acareer search terminal in Stern School’scomputing lab, UC-70 and in the CRC.

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School and University Facilities and Services

he Stern School of Business andNYU provide a range of servicesand facilities that support grad-

uate education and enhance student life.

Elmer Holmes Bobst Library and StudyCenter70 Washington Square SouthBusiness and Social Sciences/DocumentsCenter, 6th Floorwww.nyu.edu/library/bobst

Library resources and services for the SternSchool of Business are provided within thecontext of the main University library, theElmer Holmes Bobst Library and StudyCenter, located at 70 Washington SquareSouth. During the regular academic yearnormal reference hours in the Center are as follows:

Monday-Thursday 10 a.m.-9:45 p.m.Friday 9 a.m.-7 p.m.Saturday 11 a.m.-6 p.m.Sunday 1-7 p.m.

Hours for special units within Bobst andhours during vacation and holiday periodsmay vary. For current library hours, consultBobst Library Information Bulletin 1 or call(212) 998-2520.

Orientation tours of Bobst Library arescheduled at the beginning of each semes-

ter. A schedule of these tours is posted several weeks in advance. There is also a “virtual” Web tour available atwww.nyu.edu/library/vrtour/welcome.htm.

For Stern School students, Bobst Libraryprovides a wide variety of informationresources intended to support the School’sinstructional and research program. Locatedon the 6th Floor of Bobst, the Business andSocial Sciences/Documents Center houses ageneral and international business referencecollection of over 5,000 volumes as well as acollection of annual reports and 10-K state-ments (in most cases dating back to 1974)for all New York and American StockExchange companies. For company andindustry information, students may use over 20 electronic services, including DowJones News Retrieval service, Bloomberg,DataStream, and Disclosure Global Access.

All sectors of the financial services indus-try are covered including the stock and bondmarkets, futures, options, banking, andinsurance. The Center includes an interna-tional business collection with particularemphasis in marketing and finance. All

areas of the world are covered, and WesternEurope is particularly well represented.

The Center is a depository for both U.S.and UN documents and other internationalorganizations (IMF, World Bank, OECD,ILO). These two collections contain a wealthof information that supports domestic andinternational business research. Library fac-ulty with special expertise in business areavailable by appointment in the Center. They offer research guidance to studentsworking on papers, projects, or otherresearch assignments.

The Center has four group study rooms,numerous study tables, and a special areathat supports laptop Internet connections.There are individual study carrels and lock-ers available to graduate students on asemester basis.

Stern students have access to all nine ofthe distinct libraries at the University as wellas the NYU-affiliated libraries at the NewSchool, Cooper Union, and Parsons. Theholdings of the University library systemalone total over 4.4 million volumes.

Library Services

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Computing at Stern

A broad spectrum of computing services andfacilities is available to Stern faculty, stu-dents, and staff.

ELECTRONIC MAIL AND STERNSCHOOL ON-LINE INFORMATIONStern students are able to access electronicmail from the labs and E-mail terminalsthroughout the Kaufman ManagementCenter (KMC), Tisch Hall, and from a remotelocation. Stern students automaticallyreceive Web-based E-mail accounts. Loginauthorization by username (NetID found on NYU ID card) and password (NYU IDnumber) is required. A students E-mailaddress is their username, followed [email protected].

A Stern School homepage on the WorldWide Web (WWW) provides informationabout academic and administrative depart-ments. Its URL is www.stern.nyu.edu/.Specific information about computing at Stern can be found on the Infor-mation Technology (IT) Web site atwww.stern.nyu.edu/it.

STERN COMPUTER LABSM.B.A. students have access to three com-puter labs: KMC UC-70, Tisch UC-49, andTisch L-101. All labs are equipped withPentium computers and laser printers.

The computers in the labs are connectedto the Stern Novell network and offer accessto Windows NT, Microsoft Office 2000, theInternet, E-mail, laser printing, personalnetwork storage space (h: drive), and variouscourse-related software applications.

Access to Bloomberg (an on-line finan-cial information service) and Lexis/Nexis (adiverse on-line information service forcourse assignments) are available in theKMC computer lab and the KMC 5th floorreading room.

Lab hours of operation are the following:Monday-Thursday, 7:30-12 a.m.; Friday, 7:30 a.m.-9 p.m.; Saturday, 9 a.m.-9 p.m.;Sunday; 9-12 a.m. Lab hours are extended at the end of the fall and spring semes-ters to accommodate the increase in studentworkload.

Login authorization by username (NetIDfound on NYU ID card) and password (NYUID number) is required on all lab computers.

STERN INFORMATIONTECHNOLOGY (IT) HELPDESKThe Stern IT HelpDesk is located in the TischUC-49 computer lab and can be reached at

(212) 998-0180. Among other things,support is provided for general accountquestions and problems, notebook com-puters, and podium notebooks. Stern ITHelpDesk hours of operation are the follow-ing: Monday-Friday; 8 a.m.-10 p.m. andSaturday-Sunday, 8 a.m.-6 p.m.

RECOMMENDATIONS FORSTERN STUDENTSMuch of the PC work that you will do as abusiness student will consist of text process-ing, spreadsheets applications, and statisticalanalysis. These activities will be greatly facil-itated by owning a computer. This will allowyou to be independent of the microcomputerlabs, especially during periodic peak periodsand holidays when access to facilities may be limited.

All M.B.A. students must have access to apersonal computer. Stern makes the follow-ing recommendations on PC ownership.

If you already have a PC, you can use it. Ifyou are planning to buy a PC, or if you wantto upgrade to take advantage of more mod-ern technology, we strongly recommend anotebook computer, which you can carrywith you and use both at Stern and else-where. The recommended minimum config-uration for purchase of a notebook computerrunning MS Windows 98 is as follows:

• Pentium Processor running at 300MHz or faster

• 4GB or larger hard drive

• 64 MB or more RAM memory

• 3Com Etherlink, LAN+ 56K modem PC card

Stern’s software recommendation isMicrosoft Office 2000 Professional (Word,Excel, PowerPoint, Access). In addition, aprinter is recommended.

Information regarding student discountson computer hardware and software is avail-able from the NYU Computer Store at 242Greene Street, (212) 998-4672.

WORKING FROM HOMEIf you want to access the Internet or the SternSun servers from home, you must own amodem with at least 56K speed and v.90-compliancy. With a modem, you can dial into the NYU modem pool to connect to theStern systems.

NYU’s Information Technology Services(ITS) provides all NYU students with DirectInternet Access Link (DIAL) connections.There are also several commercial Internet

access providers, such as America Online.The user can browse the World Wide Web(WWW), telnet to computers on the Internet(including the SUN servers at Stern), transferfiles to and from a home PC to computers onthe Internet via FTP, and access Usenet news.

POLICY SUMMARY FORSTERN STUDENTSAccess to Stern computing and networkingresources, including hardware, software,computer-based files and data, the Stern net-work, and other networks reached via Sternfacilities, is limited to authorized users and isfor approved purposes only. Copying of soft-ware, unauthorized installation of software,and unauthorized reconfiguration of sys-tems are expressly forbidden. Each student isexpected to use Stern’s computing resourcesin an ethical and legal manner and has thefollowing responsibilities:

• to preserve the quality of computing andnetworking facilities.

• to utilize the computer resources for thesole purpose of facilitating his or her ownwork as a Stern student.

• to respect the privacy and reasonable pref-erences of other users, including the privacyof their accounts and data and any confi-dential or privileged information to whichthe student may have access.

• to maintain the integrity and security ofthe systems and network, including the safe-guarding of passwords, codes, and otherprivileged information.

OTHER FACILITIES ANDSERVICESStern has 40 “smart” classrooms. Each podi-um has a networked notebook computer andprojection equipment. Microsoft Office 2000Professional is installed on each, so facultyand students can easily use PowerPoint forpresentations during class.

Stern’s Sun services provide a variety of application software, including SAS andSPSS for statistical analysis, C, C++, and FORTRAN.

Research databases available at the Stern School include Basic Economics,Compustat, CRSP, Global Vantage, DRI Pro, and Research Insight.

IT also prepares how-to guides, availableon the IT Web site, about various computer-related topics. For additional information,visit the IT Web site at www.stern.nyu.edu/it.

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Residence Accommodations

University-owned housing for graduate stu-dents consists of unfurnished studio spaceand leased apartments in Greenwich Village,furnished graduate and professional spaceadjacent to the NYU dental and medical cen-ters in midtown, and a graduate/undergrad-uate residence on Third Avenue between East9th and East 10th Streets. Every student livingin graduate housing is assigned a roommate.

M.B.A. candidates may remain in hous-ing for two years, while Ph.D. candidatesmay remain up to three years. Residencycontracts may be signed for nine months orone year, with nine-month or one-yearrenewal options to follow, provided that thestudent maintains full-time status in good

standing in a Stern School degree program.New students for the fall term who submit

their tuition deposits by May 1 have an opti-mal chance of securing housing. Most apart-ments are available for Septemberoccupancy although some openings maybecome available for those students begin-ning the program in January or June.

Admitted full-time students who wish to beconsidered for University housing shouldrequest that housing information be sent tothem when they submit the tuition deposit.Applications must be returned by July 1 forthose enrolling in September, and December15 for those enrolling in January. Assignmentswill be made soon after these deadline dates.

OFF-CAMPUS HOUSING OFFICE

NYU’s Off-Campus Housing Office, under theauspices of the Department of Housing andResidence Life, assists members of the NYUcommunity in their search for informationabout non-University housing options. Theoffice is open only to current and newlyadmitted NYU students.

Located at 4 Washington Square Villageon the corner of Mercer and Bleecker Streets,the office is open daily from 9 a.m.-5 p.m.,Monday-Friday; (212) 998-4620. Web site:www.nyu.edu/housing/offcampus.

Campus Safety The safety of its students is of the utmost con-cern to New York University. The Universityhas a comprehensive safety program thatincludes training, protection, and education.As part of the overall plan, the NYU Protec-tion and Transportation Services Departmentprovides a force of 220 uniformed officerswho are on duty at campus facilities and patrol 24 hours a day by foot, by bicy-

cle, and in vehicles. Residence halls have 24-hour security or doormen. The trolleyand escort van service provides safe transportto residence hall locations and off-campusUniversity facilities.

In accordance with federal regulations,New York University annually publishes itsCampus Security Report. A copy of thisreport is available by contacting the Office of

Student Life, 240 Greene Street, New York, NY10003-6675; (212) 998-4953. This reportincludes campus crime statistics for theprevious three years and also contains in-stitutional policies concerning campussecurity and crime prevention, alcohol anddrug abuse, and sexual harassment.

NYU Guest Accommodations

Prospective students and their families visit-ing New York are invited to stay in ClubQuarters, a private hotel convenient to theUniversity. Located in a renovated turn-of-the-century building in New York’s historic

Financial District, the hotel offers conciergeservices, a health club, and room service,among other amenities. If space is available,weekend University guests may also stay at the midtown Club Quarters, located

in a landmark building that is close toshopping, Broadway theatres, and Rocke-feller Center. For information and reserva-tions, call (212) 443-4700.

Campus Dining Services

Keeping up with the ever-changing foodtrends, NYU’s Really Cookin’! has everythingfrom traditional American cuisine, ethnicdishes, and popular brands like BurgerKing® and Pizza Hut Express®. Also avail-able are low-fat, vegan, and vegetarian din-ing options at 12 different dining sites (listedbelow), including a restaurant, food court,outdoor café, five dining rooms, and twolate-night snack bars, which make eating oncampus convenient for all.

Students can choose from 13 distinctivemeal plans. On-campus and off-campus res-idents have the freedom to use theirNYUCard for meals, beverages, and snacks.

For more information on dining loca-tions and hours of service, contact CampusDining Services, (212) 995-3030.

Faye’s Café, 38 East Eighth Street

Founders Café, 50 West Fourth Street (at the NYU Information Center)

Hayden Dining Room, 33 WashingtonSquare West

Rubin Dining Room, 35 Fifth Avenue (at 10th Street)

Third North Courtyard Café, 75 ThirdAvenue (at 12th Street)

University Hall Atrium Dining Roomand Java City®, 110 East 14th Street

The Violet Café, 45 West Fourth Street

Weinstein Dining Room, WeinsteinFood Court, Java City®, and KosherEatery (with meat and dairy options), 5 University Place

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University Health Center

The mission of the New York UniversityHealth Center (UHC) is to provide and pro-mote high-quality, accessible, and cost-effec-tive treatment, prevention, and education insupport of the University’s goals and inresponse to the needs and concerns of its stu-dents. To this end, a comprehensive range ofservices is offered in a facility with state-of-the-art equipment and highly qualifiedhealth care professionals.

Health care at UHC is available to allregistered NYU students. Students coveredunder an NYU insurance plan must first seektreatment at UHC, except in emergencies.Students covered under private health insur-ance may telephone Patient Accounts at(212) 443-1010 to determine whether or notUHC has a billing relationship with theirinsurance company. A scheduled appoint-ment is the preferred method for students toreceive services at UHC. Typically, a healthcare provider will be available to see you inPrimary Care Services based on appointmentavailability and your scheduling needs.Patients who cannot wait for an appoint-ment due to the nature of their illness orinjury will receive assistance through UrgentCare Services.

UHC also offers a wide range of addition-al services, including the following specialtyservices: allergy and immunization, derma-tology, endocrinology, gastroenterology,gynecology/women’s health, men’s health,minor surgery, neurology, occupationalmedicine, ophthalmology, orthopedics,otolaryngology (ear, nose, and throat),performing arts medicine, podiatry,pulmonology, sports medicine, and travelmedicine. Appointments for specialty servicesmay be made after a medically warrantedreferral from a UHC health care provider.Additional programs and services includeCenter for Health Promotion, Office of Drug and Alcohol Addiction, HIV services,laboratory, nutrition services, physical andoccupational therapy, optometry, pharmacy,and radiology.

The general hours of operation are aca-demic year (September through May),Monday-Friday, 8 a.m. to 8 p.m.; Saturdayand Sunday, 10 a.m. to 6 p.m. During thesummer (June through August), the hoursare Monday-Friday, 8 a.m. to 6 p.m., andSaturday, 10 a.m. to 6 p.m. UHC is closedduring certain University holidays. For hours of individual departments and holiday schedules, please call UHC at (212) 443-1000.

University Health Center is located at 726Broadway, 3rd Floor. For more information,please call, e-mail, or visit the UHC Web site:(212) 443-1000; [email protected];www.nyu.edu/pages/health.

AFTER-HOURS CARE

In case of a life- or limb-threatening emer-gency, please dial 911. For other healthemergencies, or when UHC is closed, pleasecall Protection Services at (212) 998-2222.You will be connected with Tisch Hospital’semergency room, where a physician willprovide advice over the telephone and deter-mine if you need to come to the emergencyroom or can wait to see a health careprovider at UHC the following day.

INSURANCE

New York University students in degree-granting programs are required to maintainhealth insurance. Most students are enrolledautomatically in an optional NYU-sponsoredstudent health insurance plan as part of the University’s registration process. Theplan in which students are automaticallyenrolled varies according to school, creditload, and visa status. For more specificinformation, please refer to the StudentHealth Insurance Handbook, [email protected], or callStudent Health Insurance Services at (212) 443-1020.

NYU sponsors three student healthinsurance plans: the Basic Plan, the

Comprehensive Plan, and the UHC OnlyPlan. Students enrolled in the NYU-spon-sored student health insurance programmay switch from the Basic Plan to theComprehensive Plan, or vice versa. Studentsmaintaining their own health insurance cansupplement their coverage by enrolling inthe UHC Only Plan, or they can waive any ofthe optional student health insurance plans(and corresponding charge) entirely. Also,students who otherwise are eligible for theprogram but who do not meet the credit-loadrequirement for automatic enrollment mayenroll in any NYU-sponsored student healthinsurance plan voluntarily.

To select, change, or waive coverage, stu-dents must submit a completed StudentHealth Insurance Selection/Waiver Form toStudent Health Insurance Services before theapplicable enrollment/waiver deadline.Doing so will ensure that students areenrolled in the plan of their choice.

Except for medical emergencies andwhen living outside the borough ofManhattan, students insured under anyNYU-sponsored student health insuranceplan are required to first seek treatment andbe evaluated at the University Health Center(UHC) for any sickness or injury. A medicalemergency refers to an acute illness or injurythat is life- or limb-threatening or maypermanently affect the quality of life. It is thestudent’s responsibility to notify the planadministrator, Chickering Claims Admin-istrators, Inc., (800) 466-4148, of any emer-gency or elective hospital admission.

Detailed information about the NYU-sponsored student health insurance plans is included in the Student Health InsuranceHandbook. To obtain a copy of the bookletand/or the Student Health InsuranceSelection/Waiver Form, please visit or callStudent Health Insurance Services at (212)443-1020, located at UHC, 726 Broadway, 4th Floor. You may also contact the office viaE-mail at [email protected].

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Office for African American, Latino, and Asian American Student Services

Campus Store/The NYU Book Centers

The New York University Main Bookstore,located at 18 Washington Place, stocksrequired and recommended course books,both new and used; a complete selection ofhardcover and paperback general books;current best-sellers; children’s books andclothing; study aids; and NYU sportswear,stationery, and gifts. Registered students canget a printout of required and recommendedtextbooks at the store on the text level. Themain telephone number is (212) 998-4667.

Regular store hours are 10 a.m. to 7:15p.m., Monday-Thursday and 10 a.m. to 6p.m., Friday and Saturday. Store hours areextended beginning one week prior to thestart of classes and continuing through thefirst two weeks of classes. Call the store orcheck the Web site for more information.

Book inquiry systems [TextTone: (212) 443-4000 and the Web site:www.bookc.nyu.edu] are available twoweeks prior to the start of a new semester.Registered students, using a Touch-Tonetelephone or the Internet, can inquire about,get a listing of, and purchase optional andrequired course books 24 hours a day with amajor credit card. Orders will be shipped viaUPS ground within two business days.

COMPUTER STORE

The Computer Store, located at 242 Greene Street, (212) 998-4672, [email protected], offers educa-tionally priced hardware and software.Books, CDs, film supplies, accessories, smallelectronics, repair services, and computing

supplies are also available. At the start ofeach semester, students can take advantageof a no-interest computer loan for up to$3,000 with deposit, with the deferred inter-est computer purchase program.

PROFESSIONAL BOOKSTORE

The Professional Bookstore, located at 530 La Guardia Place, (212) 998-4680, or [email protected], serves the Leonard N. Stern School of Business(Graduate Division), the School of Law, andthe Robert F. Wagner Graduate School ofPublic Service with course books, sportswear,stationery, and gifts.

Forms of payment include MasterCard,Visa, American Express, Discover, and NYU-Card Campus Cash.

The Jerome S. Coles Sports and Recreation Center

The Jerome S. Coles Sports and RecreationCenter fills the recreational needs of the Uni-versity’s students, faculty, staff, and alumni.The Center’s operating schedule provides theopportunity to participate in programs atvarying skill levels—recreational courses,free play, intramural activities, and varsity orclub teams.

The Center provides the following facil-ities: a roof with a 1/6-mile, three-lanerunning track, plus a playing surface thatwill accommodate six tennis courts, soccerpractice, and intramural touch football; a natatorium with an NCAA regula-tion swimming pool and diving tank; sixsquash courts and five handball/racquetball

courts; a large, modern weight-trainingroom, plus two annexes containing Uni-versal and Nautilus machines, plus freeweights, StairMasters, VersaClimbers, Life-steps, Cybex hip machines, rowingmachines, and abductor/adductor ma-chines; individual rooms for wrestling/judo,fencing, physical fitness/calisthenics,

For more than 10 years, the Office for AfricanAmerican, Latino, and Asian AmericanStudent Services (OASIS) at New YorkUniversity has sought to promote educa-tional success by cultivating a communityfor students of color. OASIS is dedicated tohelping students achieve excellence throughaddressing the intellectual, cultural, andsocial issues of African American, Latino,and Asian American students.

EDUCATIONAL AND CULTURALPROGRAMS

• Educational and CulturalInstitute/Under1Roof

• OASIS Speaker Series

• -ISM Project

• Diversity Day

GRADUATE AND PROFESSIONALINITIATIVES

• Future Administrators Cultural TrainingSeminar (FACTS) Program

• Institute for the Recruitment of Teachers

• Career Advantage Internship Program

• Diversity Career Fair

• Making It in Media

PERSONAL DEVELOPMENT ANDLEADERSHIP

• The OASIS Leadership Institute (OLI)

• Mentorship Program

• OASIS Peer Ambassadors

• Brothers for Success

• Financial Aid Seminar Series

• The Culture Shop

ACADEMIC ENRICHMENTSERVICES

• Strategic Networking for AcademicPerformance (SNAP)

• Timbuktu Academic Resource Center

SOCIAL AND COMMUNITYPROGRAMS

• Welcome Reception

• Holiday Celebration

• Nia Awards Celebration

• University Commencement Reception

• OASIS in the Community Day

• Graduate Students of Color Socials

• The Alumni of Color Network (AOC)

GENERAL RESOURCES ANDSERVICES

• OASIS On-Line Calendar(calendar.nyu.edu/oasis)

• Scholarship/Grant Information

• The OASIS Spirit

• Counselor-in-residence

• OASIS Information Sessions

• The Official OASIS Web Site(www.oasis.nyu.edu)

The office, located at 240 Greene Street, 3rdFloor, is open Monday, Tuesday, and Fridayfrom 9 a.m. to 5 p.m., and Wednesday andThursday from 9 a.m. to 7 p.m. The maintelephone number is (212) 998-4343.

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dance, and exercise prescription instruction;and over 1,000 square feet of textured rockwall—Cole Rocks.

Lockers, recreational equipment, and thePro-Shop are available to members. TheCenter sells tickets for home and away inter-collegiate events.

Coles Center is available to all studentswho are registered for credit-bearing coursesand who hold currently valid ID cards.Students who are maintaining matricu-lation must pay an additional $60 per term ($45 for summer) for the use of

Coles. Other members of the Universitycommunity may purchase memberships.

The Coles Sports and Recreation Center islocated at 181 Mercer Street (betweenBleecker and West Houston Streets), (212)998-2020. The Center is barrier-free to facili-tate access for persons with disabilities.

CHELSEA PIERS

Special arrangements have been made forNew York University students to take classesand join the sports and entertainment com-plex at Chelsea Piers. The complex includes

an outdoor, multitiered golf driving range,batting cages, in-line skating rinks, ice-skat-ing rinks, rock-climbing walls, a 1/4-mileindoor track, indoor sand volleyball courts,and many other facilities. Informationabout discounted daily admission fees,registration for Chelsea Piers courses atreduced rates, and special monthly mem-bership fees can be obtained by calling theColes Recreation Office at (212) 998-2028 or by picking up a brochure at the Coles Membership Office.

Students with Disabilities

The Henry and Lucy Moses Center forStudents with Disabilities provides serviceswithin the 14 schools and colleges of theUniversity. Located at 240 Greene Street, 4thFloor, the center provides services to popula-tions with hearing and visual impairments,mobility impairments, and learning disabil-ities and to students with chronic conditions,such as AIDS and psychiatric disorders.

Services include the provision of sign lan-

guage interpreters, readers, notetakers, andother ancillary aides. The center works inconjunction with academic and administra-tive departments in providing assistance with registration, housing, and testing.Tuition aid is also available through aspecial application process.

Access to Learning, a comprehensivesupport program for students with learningdisabilities, functions under the center’s

auspices. The center also sponsors numerousprograms and study skills workshops, as wellas the Career Enhancement Program, whichassists students in obtaining employment inthe private sector.

Telephone (212) 998-4980 (Voice andTTY) or visit our Web site (www.nyu.edu/osl/csd) for more information. All contactswith the center are strictly confidential.

Office for International Students and Scholars

The Office for International Students andScholars (OISS) coordinates services for inter-national students and scholars. The OISSissues certificates of eligibility for F-1 and J-1student visas, advises on all matters pertainingto student immigration status, and serves asthe University’s liaison to the United StatesImmigration and Naturalization Service.Advisers are available every day to assist stu-dents with immigration, employment, finan-

cial, personal, and cross-cultural concerns.The OISS sponsors programs to facilitate

international students’ adjustment to theirnew environment and to ensure continuedsuccess during their studies at New York Uni-versity. Programs include a comprehensiveorientation; a University-based friendshipprogram that provides international studentsthe opportunity to share common interestswith NYU faculty, staff, alumni, and friends;

trips to spots of local and regional culturalinterest; cross-cultural and educational sem-inars; and festivals celebrating U.S. andworld cultures.

The office is located at 561 La Guardia Place and is open from 9 a.m. to 5 p.m., Monday through Friday; telephone (212) 998-4720; E-mail:[email protected]; Web site:www.nyu.edu/osl/oiss.

The M.B.A. Student Activities Office

The main functions of the M.B.A. StudentActivities Office revolve around the M.B.A.student groups at Stern. The M.B.A. StudentActivities Office is a resource for studentgroups that provides guidance as it relates totheir activities and helps facilitate interac-tion with various constituents at NYU. One ofthe goals of the M.B.A. Student ActivitiesOffice is to increase dialogue between stu-

dent groups and administrators and to pro-vide constructive ideas and feedback for stu-dent-run activities. Specific responsibilitiesrange from playing a large role in planningPre-Term for new students to details such asassigning lockers to full-time block students.Publications produced by the M.B.A. StudentActivities Office include the M.B.A. StudentLeaders’ Handbook, the Student Group

Information Booklet, and the Stern SchoolStudent Directory. The M.B.A. Student Activ-ities Office is located at 44 West Fourth Street,Suite 6-50, New York, NY 10012-1126; Website: www.stern.nyu.edu/mba.stud-act;telephone: (212) 998-0930; and E-mail:[email protected].

M.B.A. Student Groups

Stern Student Corporation (SCORP)is Stern’s M.B.A. student government for bothfull-time and part-time M.B.A. students.SCORP oversees student organizations andacts as the liaison between students, faculty,and administration. [email protected]

The Asian Business Society (ABS) pro-motes interest in U.S. and Asian business andcultural interaction through a wide array ofprograms for M.B.A. students, faculty, staff,alumni, and the corporate [email protected]

The Association of Hispanic andBlack Business Students (AHBBS)serves as the primary link between theHispanic and Black student body and theacademic and professional [email protected]

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The Association of InvestmentManagement (AIM) provides resourcesfor M.B.A. students who are interested in researching and pursuing either buy-side or sellside career [email protected]

The Emerging Markets Association(EMA) provides a forum for students to dis-cuss the economic, financial, and businessissues in emerging market [email protected]

The Entrepreneurs’ Exchange (EE)fosters entrepreneurial curiosity by providingan environment conducive to pursuingentrepreneurial paths and by providingfocused resources, education, networkingopportunities, and career [email protected]

The European Business Society (EBS)is a common-interest social and profession-al student and alumni network. EBSprovides a forum for discussion of EU/EC-related issues and how they relate to the U.S.economy and American business. EBS is aninternational career-driven recruitmentconnection for predominantly multinationalfirms seeking to hold events for or with Sternbusiness students. [email protected]

The Financial Engineering Associ-ation (FEA) educates students aboutopportunities in financial engineering byorganizing discussions on relevant financialengineering topics and maintaining a Web site with current trends and careerpossibilities in financial [email protected]

The Graduate Finance Association(GFA) works closely with both the schooland the financial community to educate andprepare students for finance related careers,including investment banking, investmentmanagement, sales and trading, commer-cial banking, and general [email protected]

The Graduate Marketing Association(GMA) explores the marketing of productsand services across a wide variety of busi-nesses and industries. GMA is a comprehen-sive resource and source of support for Sternstudents in their transition from the class-room to the corporate world of [email protected]

The Japan Business Association(JBA) offers the Stern community theopportunity to experience Japanese cultureand the chance to learn about Japanese busi-ness and economy. [email protected]

The Latin American BusinessAssociation (LABA) promotes and facili-tates cultural and professional exchangebetween Latin America and the Stern com-munity. [email protected]

The Lesbian and Gay BusinessAssociation (LGBA) brings Stern’s les-bian and gay community together as a pro-fessional network. LGBA is a social, educa-tional, and career development resource forgay and lesbian students, alumni, faculty,administration, and the broader LGBA com-munity. [email protected]

The Management Consulting Asso-ciation (MCA) assists students in theirpursuit of management consulting careersby raising awareness of career opportunitiesin this industry and educating members onthe responsibilities of management consul-tants. [email protected]

The Media and Entertainment Asso-ciation (MEA) educates members aboutcareers in media and entertainment by act-ing as a link to alumni, industry, academic,and career resources. [email protected]

Net Impact is an international networkwith chapters at major business schools. NetImpact provides career development oppor-tunities for students interested in sociallyresponsible business and fosters discussionregarding the environment, communitydevelopment, and corporate [email protected]

Net Present Vocals (NPV) is Stern’s very own a capella group. Various per-formances include Pre-Commencement,Stern Follies, and the MBA2 [email protected]

The Real Estate Club brings together stu-dents interested in all aspects of this businesssegment by sponsoring events that foster jobsearch contacts, meaningful discussion onindustry trends, and valuable skill-set devel-opment. [email protected]

The Sales and Trading Club educatesmembers about the sales and trading in-dustry and prepares them for the M.B.A.interview process through mock inter-views, recruiting events, and guest [email protected]

SpeechMasters was founded with theobjective of helping students become betteroral communicators. The club helps sharp-en and refine students’ communicationskills in order to complement the analyticaland quantitative skills developed in the class-room. [email protected]

The Stern Journal is a publicationwritten by M.B.A. students that is devoted toshowcasing the unique perspectives andstrengths of the M.B.A. candidate regardingthe compelling business issues of the [email protected]

The Stern Opportunity is a studentproduced publication that strives to achieve a working balance between serious infor-mation and entertainment. Each issue fea-tures stories ranging from student groupactivities to job market influences to [email protected]

Stern Partners was founded to enhancethe social lives of Stern students’ significantothers by offering social diversions both atStern and outside of the NYU campus.Activities include wine tastings, museumtrips, and outings to local sporting events.

The Stern Rugby Club provides a socialenvironment in a sporting context where a broad mix of M.B.A. students from all nationalities and backgrounds can meet current students and alumni and take part in an exciting team [email protected]

Stern Women in Business (SWIB)promotes female students’ personal and pro-fessional development by providing network-ing and social interaction opportunities withStern students, faculty, administrators, andalumni as well as the outside business com-munity. [email protected]

Strategic Operations Club (SOC)promotes operations management careers,fosters interaction between students andoperations faculty outside the classroom,and provides a bridge between currentstudents and Stern alumni working in oper-ations careers. [email protected]

The Technology and New MediaGroup (TANG) is the home for new mediaand technology-focused M.B.A. students atStern. The club provides a valuable forumfor dialogue between M.B.A.’s and the leadersof the rapidly evolving technology [email protected]

The Wine Cellar Club provides Sternstudents with the opportunity to broadentheir knowledge of wines and interact with students, alumni, faculty, and cor-porations in an informal [email protected]

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Community Service

tradition of service is deeply rooted in theinstitutional life of New York University.Through community service, one can

enhance leadership skills, build new relationships, andfind self-fulfillment. Consistent with our mission tofoster volunteerism, the Leonard N. Stern School ofBusiness offers numerous community service projectsfor its students. Full-time M.B.A. students participate inStern School’s Community Action Challenge, a pro-gram that encourages them to assist local social serviceorganizations. Their efforts have included mentoringchildren; tutoring adults who were formerly homelessor are studying for a GED; and working in shelters andsoup kitchens. The Community Service Committee, asubcommittee of the Student Corporation, organizes a wide variety of service activities.

Those interested in consulting, entrepreneurship, or economic development may join other groups, suchas the Urban Business Assistance Corporation (UBAC). Students participating in UBAC provide education andconsultation services for minority and women-owned businesses. Participants gain valuable business expe-rience and have a chance to earn some extra money while providing a service to small business clients inmanufacturing, retail, and service industries. UBAC is a registered not-for-profit corporation governed by anexternal board of directors.

Many other service activities initiated by students draw the attention of the Stern community. To obtainmore information concerning your participation in community service projects at the Stern School of Business,please contact the Stern Student Corporation at [email protected].

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Development and Alumni Outreach

he Office of Development and Alumni Outreach servesas the primary link between

the Stern School and its graduates. It isour goal to create an environment thatstimulates continued interest on the part of our alumni to be proud and sup-portive of their school, to participate insponsored activities, and to contributeresources that enable the School topursue excellence.

Stern Development and AlumniOutreach serves 58,000 alumni in 98countries who remain connected today more easily than ever before thanks to the many resources thatAlumni Outreach provides: the Alumni Association’s numerous alumni chapters worldwide; local andregional events; a new interactive alumni database with E-mail forwarding for life; career resources andjob postings; the Alumni Advisors program; and publications such as Stern Alumni and Stern Businessare all tools to help alumni stay in touch with Stern and with each other. The office also works with theOffice of the Dean, the faculty, and other administrative offices to provide opportunities for students tointeract with alumni and friends of the School in informal meetings and in larger, more formal settings.Examples are as follows:

• The Dean’s Leadership Series, inwhich small groups of students meet withbusiness leaders such as William R. Berkley,Chairman and President of W. R. BerkleyCorporation; Philip R. Cowen, Chairman,and CEO of Cowen Capital Corporation;Steve Florio, President and CEO of CondéNast Publications; Abby F. Kohnstamm,Senior Vice President of Marketing at IBM;and Harvey Golub, Chairman and CEO ofAmerican Express Company.

• The Charles Waldo Haskins Award,Stern’s most prestigious award, is presentedannually at the Haskins Award Dinner.Named for the founding dean of the SternSchool, the award recognizes individualswhose careers have been characterized by thehighest level of achievement in bridging thebusiness and public sectors. Past recipients

have included Paul Volcker, formerChairman of the Federal Reserve Board; AlanGreenspan, current Chairman of the FederalReserve Board; Henry Kaufman, President ofHenry Kaufman & Co.; and William H.Donaldson, former Chairman and CEO ofthe New York Stock Exchange.

• The “Meet the Chief Executive”Series, which has brought students intocontact with John Welch, Chairman andCEO of General Electric; Harvey Golub,Chairman and CEO of American Express;Shelly Lazarus, CEO of Ogilvy & Mather; andJon Corzine, Chairman and Senior Partnerof Goldman, Sachs.

• The Nichols Award, which is presentedannually to such individuals as John Reed,Chairman and CEO of Citibank; P. RoyVagelos, former Chairman and CEO of

Merck; and Felix G. Rohatyn, GeneralPartner of Lazard Freres and Co.

• Student groups, such as the AsianBusiness Society and Stern Womenin Business, which frequently consultwith the Alumni Outreach Office on theinvolvement of alumni leaders in their activ-ities and events.

The Office of Development seeks to raisefunds to provide the necessary resources forone of the nation’s premier business schools.The contributions received from individuals,corporations, and foundations enable Sternto continue building its academic and pro-grammatic resources, to enhance researchand student contact among faculty mem-bers, and to fund scholarships to recruit thehighest quality of students.

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It is the goal of the Office of AlumniOutreach to make the department andalumni visible to current students and to create opportunities for alumni to inter-act with students, laying the groundwork for a continuous, lifelong relationship withStern. The office maintains a reliable data-

base of all known alumni in order to providethem with information on the School’sprogress, activities, accomplishments, andgoals and to create a strong and positiveimage of the School.

The Office of Development and AlumniOutreach is located at 40 West Fourth Street,New York, NY 10012-1118.

Development: (212) 998-0383Alumni Outreach: (212) 998-4040Web site: www.stern.nyu.eduE-mail: [email protected]

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Administration and Faculty

Administration ADMINISTRATIVE DEANS

George Daly, B.A., M.A., Ph.D.Dean, Leonard N. Stern School of Business;Dean Richard R. West Professor of Business;Professor of Economics

Frederick D. S. Choi, B.B.A., M.B.A., Ph.D.Dean, Leonard N. Stern School of Business,Undergraduate College; Vice Dean, LeonardN. Stern School of Business; Professor ofAccounting and International Business

David Backus, B.A., Ph.D.Vice Dean of Academic Affairs; Heinz RiehlProfessor of Finance and Economics

Richard D. Freedman, B.S., M.B.A., Ph.D.Associate Dean for M.B.A. Programs;Chairman, Department of Managementand Organizational Behavior; Professor ofManagement

Mary Miller, B.G.S., M.A.Associate Dean for M.B.A. Admissions andStudent Services

Paul Affuso, B.A., M.A.Associate Dean for Finance and Facilities

Rosemary Mathewson, B.A., J.D., LL.M.Associate Dean for Executive DevelopmentPrograms

Gary Fraser, B.S., M.B.A.Assistant Dean of Career Development

George Tabback, B.S., M.S., M.B.A.Chief Information Technology Officer

Joanne Hvala, B.A., M.B.A.Associate Dean of Marketing and ExternalRelations

ADMINISTRATIVE SERVICES

Barbara Albrecht, B.A., M.B.A.Director

ALUMNI AFFAIRS

Joanne Hvala, B.A., M.B.A.Associate Dean for Marketing and ExternalRelations


Jeanne Marano, B.A., M.A.Director of Alumni Affairs

M.B.A. ADMISSIONS ANDSTUDENT SERVICES


Julia Min, B.A., M.A.Director of Admissions

BUDGET

Paul Affuso, B.A., M.A.Associate Dean for Finance and Facilities

BERKLEY CENTER FORENTREPRENEURIAL STUDIES

Ari Ginsberg, B.H.L., M.A., M.B.A., Ph.D.Director

CENTER FOR JAPAN-U.S.BUSINESS AND ECONOMICSTUDIES

Ryuzo Sato, B.A., Ph.D.Director

CENTER FOR LAW ANDBUSINESS

William Allen, B.S., J.D. LL.D.Director

CENTER FOR MEDIA,ENTERTAINMENT, ANDTECHNOLOGY

Sam Craig, B.A., B.S., Ph.D.Director

CENTER FOR DIGITALECONOMY RESEARCH

Norman H. White, B.A., M.S., Ph.D. Director

DEAN’S OFFICE

Suzette Lemson, B.A., M.A.Director of Dean’s Office Administration

DEVELOPMENT ANDCORPORATE FOUNDATION

Kerry Kruckel-Gibbs, B.A.Director of Corporate and Foundation Relations

Robert Rosch, B.A., J.D.Director of Research

DOCTORAL PROGRAMS

Edwin Elton, B.A., M.S., Ph.D.Director

EXECUTIVE PROGRAMS

Rosemary Mathewson, B.A, J.D., LL.M.Associate Dean

Kenneth Froewiss, B.A., Ph.D.Academic Director

Jennifer Spry, B.S.Administrations Director

HUMAN RESOURCES ANDPAYROLL

Grace Glessing, B.A., M.A.Director

INFORMATION TECHNOLOGY

George Tabback, B.S., M.S., M.B.A.Chief Information Technology Officer

Hilda Au, B.S.Director of Administrative InformationServices

Melissa Anderson, B.A., M.A., M.B.A.Director of Distance Learning

INTERNATIONAL PROGRAMS

Mary Miller, B.G.S., M.A.Associate Dean

THE LANGONE PROGRAM: APART-TIME M.B.A. FORWORKING PROFESSIONALS

Kim P. Corfman, B.A., M.B.A., Ph.D.Academic Director

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M.B.A. PROGRAM INWESTCHESTER

Regine Goldberg, B.A., M.A.Associate Director

OFFICE OF CAREERDEVELOPMENT

Gary Fraser, B.S., M.B.A.Assistant Dean

PUBLIC AFFAIRS, MARKETING,AND SPECIAL EVENTS

Joanne Hvala, B.A., M.B.A.Associate Dean

RECORDS AND ENROLLMENTSERVICES

Beth Rubin, B.A.Director of Enrollment Management

Nora Lane, B.S., M.S.Director of Records and Registration

SALOMON CENTER

Ingo Walter, B.A., M.S., Ph.D.Director

UNDERGRADUATE COLLEGE

Victor Mullins, B.A., M.A.Director of Academic Services

Carolyn Magnani, B.A., M.A.Director of Advising and Student Services

VINCENT C. ROSS INSTITUTEOF ACCOUNTING

Baruch Lev, B.A., M.B.A., Ph.D.Director

Faculty of theStern School ofBusiness

PROFESSORS

William T. AllenClinical Professor of Business; AdjunctProfessor of Law; Director, Center for Lawand BusinessB.S. 1969, NYU School of Commerce; J.D.1972, Texas Law

Edward I. AltmanMax L. Heine Professor of FinanceB.A. 1963, City College; M.B.A. 1965, Ph.D.1967, California (Los Angeles)

Yakov AmihudResearch Professor; IRA Rennert Professorof Entrepreneurial FinanceB.A. 1969, Hebrew; M.S. 1973, Ph.D. 1975,New York

Henry AssaelProfessor of MarketingB.A. 1957, Harvard; M.B.A. 1959,Pennsylvania; Ph.D. 1965, Columbia

David K. BackusHeinz Riehl Professor of Finance andEconomics; Vice Dean of Academic AffairsB.A. 1975, Hamilton College; Ph.D. 1981,Yale

Kashi R. BalachandranProfessor of AccountingB.E. 1962, Madras; M.S. 1964, Ph.D. 1968,California

Lawrence BearVisiting Professor of Business EthicsB.A. 1949, Duke; J.D. 1953, Harvard; LL.M.1967, Columbia

John S. BilderseeProfessor of AccountingB.A. 1966, Princeton; M.B.A., Ph.D. 1971,Chicago

Menachem BrennerProfessor of FinanceB.A. 1969, Hebrew; M.A. 1971, Ph.D. 1974,Cornell

Richard P. BriefProfessor of Statistics and AccountingB.A. 1955, M.B.A. 1958, Dartmouth College;Ph.D. 1964, Columbia

Stephen J. BrownDavid S. Loeb Professor of FinanceB.S. 1971, Monash; M.B.A. 1974, Ph.D.1976, Chicago

Bruce BuchananC. W. Nichols Professor of Business Ethics;Director, Markets, Ethics, and Law ProgramB.S. 1977, Massachusetts Institute ofTechnology; Ph.D. 1983, Columbia

Luís CabralProfessor of EconomicsB.A. 1983, Catholic University of Portugal;M.S. 1985, New University of Lisbon; Ph.D.1989, Stanford

Samprit ChatterjeeProfessor of StatisticsB.S. 1960, M.S. 1962, Calcutta; Ph.D. 1967,Harvard

Frederick D. S. ChoiProfessor of Accounting and InternationalBusiness; Dean, Leonard N. Stern School ofBusiness, Undergraduate College; ViceDean, Leonard N. Stern School of BusinessB.B.A. 1965, M.B.A. 1968, Hawaii; Ph.D.1972, Washington

Thomas CooleyPaganelli-Bull Professor of Global Business;Professor of Economics and InternationalBusinessB.S. 1965, Rensselaer Polytechnic Institute;M.A. 1969, Ph.D. 1971, Pennsylvania

C. Samuel CraigProfessor of Marketing; Director,Entertainment, Media, and TechnologyB.A. 1965, Westminster College; M.S. 1967,Rhode Island; Ph.D. 1971, Ohio State

John A. CzepielProfessor of MarketingB.S. 1964, M.S. 1969, Illinois Institute ofTechnology; Ph.D. 1972, Northwestern

George DalyDean Richard R. West Professor of Business;Professor of Economics; Dean, Leonard N.Stern School of BusinessB.A. 1962, Miami (Ohio); M.A. 1965, Ph.D.1967, Northwestern

Aswath DamodaranProfessor of FinanceB.Com. 1977, Madras; M.S. 1979, IndianInstitute of Management; M.B.A. 1981,Ph.D. 1985, California (Los Angeles)

Daniel E. DiamondProfessor of EconomicsB.A. 1951, Massachusetts; M.B.A. 1953,Boston; Ph.D. 1958, New York

Susan P. DouglasProfessor of Marketing and InternationalBusiness; Research ProfessorB.A. 1962, M.A. 1964, Manchester; Ph.D.1969, Pennsylvania

Roger L. DunbarProfessor of ManagementB.Com. 1963, M.Com. 1966, Otago; Ph.D.1970, Cornell

Nicholas S. EconomidesProfessor of EconomicsB.S. 1976, London School of Economics;M.A. 1979, Ph.D. 1981, California (Berkeley)

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Edwin J. EltonNomura Professor of Finance; Director,Doctoral ProgramsB.A. 1961, Ohio Wesleyan; M.S. 1965, Ph.D.1970, Carnegie Mellon

Robert EngleMichael Armellino Professorship in theManagement of Financial ServicesB.S. 1964, Williams; M.S. 1966, Ph.D. 1969,Cornell

Stephen C. FiglewskiProfessor of FinanceB.A. 1969, Princeton; Ph.D. 1976,Massachusetts Institute of Technology

Charles J. FombrunProfessor of ManagementB.S. 1974, B.A. 1975, Queen’s (Kingston,Ontario); Ph.D. 1980, Columbia

Richard D. FreedmanAssociate Dean for M.B.A. Programs;Professor of Management; Chairman,Department of Management andOrganizational BehaviorB.S. 1961, M.B.A. 1962, Ph.D. 1967, New York

Kenneth C. FroewissClinical Professor of Finance; AcademicDirector, Executive ProgramsB.A. 1967, Harvard College; Ph.D. 1977,Harvard

Avijit GhoshKenneth Langone Professorship in Business;Vice Dean, Professional ProgramsB.S. 1970, Calcutta; M.B.A. 1974, XavierLabor Relations Institute (India); M.A.1977, Ph.D. 1979, Iowa

Ari GinsbergHarold Price Professor of Entrepreneurshipand Management; Director, Berkley Centerfor Entrepreneurial Studies; Area Chairman,Entrepreneurship and InnovationB.H.L. 1975, Israel; M.A. 1977, Columbia;M.B.A. 1982, Ph.D. 1985, Pittsburgh

William H. GreeneProfessor of Economics; Chairman,Department of EconomicsB.S. 1972, Ohio State; M.A. 1974, Ph.D.1976, Wisconsin

Martin J. GruberNomura Professor of FinanceB.S. 1959, Massachusetts Institute ofTechnology; M.B.A. 1961, Ph.D. 1966,Columbia

John D. GuilfoilProfessor of EconomicsB.A. 1956, City College; M.A. 1960, Ph.D.1964, New York

William D. GuthProfessor of ManagementB.S. 1953, Washington; M.B.A. 1954,Indiana; D.B.A. 1960, Harvard

Joel HasbrouckProfessor of FinanceB.S. 1974, Haverford; M.A. 1980, Ph.D.1981, Pennsylvania

Aaron HipscherVisiting Professor of AccountingB.A. 1965, M.B.A. 1966, Rutgers

Haym HirshVisiting Professor of Information SystemsB.S. 1983, California (Los Angeles); M.S.1985, Ph.D. 1989, Stanford

John HullVisiting Professor of FinanceB.A. 1968, M.A. 1972, Cambridge; M.A. 1969,Lancaster; Ph.D. 1977, Cranfield (England)

Clifford M. HurvichProfessor of Statistics and OperationsResearch; Research ProfessorB.A. 1980, Amherst College; M.A. 1982,Ph.D. 1985, Princeton

Jacob JacobyMerchants Council Professor of RetailManagement and Consumer BehaviorB.A. 1961, M.A. 1963, Brooklyn College;Ph.D. 1966, Michigan State

Kose JohnCharles William Gerstenberg Professor ofBanking and FinanceB.S. 1970, India; M.S. 1974, FloridaInstitute of Technology; Ph.D. 1978, Florida

Seymour JonesClinical Professor of AccountingB.A. 1952, City College; M.B.A. 1954, New York

Barbara G. KatzProfessor of EconomicsB.A. 1968, M.A. 1969, Ph.D. 1973,Pennsylvania

Robert A. KaveshMarcus Nadler Professor of Economics and FinanceB.S. 1949, New York; M.A. 1950, Ph.D. 1954,Harvard

W. Michael KeenanProfessor of Finance; Deputy Chairman,Department of FinanceB.S. 1960, Case Western Reserve; M.S. 1962,Ph.D. 1967, Carnegie Mellon; CFA

C. Christine KellyClinical Professor of ManagementCommunicationB.A. 1964, M.S. 1968, Emporia State; Ed.D.1992, Columbia

Robert B. LambClinical Professor of ManagementB.A. 1963, Chicago; M.B.A. 1976, Columbia;Ph.D. 1970, London School of Economics

Kenneth C. LaudonProfessor of Information SystemsB.A. 1966, Stanford; Ph.D. 1972, Columbia

Baruch I. LevPhilip Bardes Professor of Taxation;Director, Vincent C. Ross InstituteB.A. 1962, Hebrew; M.B.A. 1967, Ph.D. 1968,Chicago

Richard M. LevichProfessor of Finance and InternationalBusinessB.A., M.B.A. 1971, Ph.D. 1977, Chicago

Joshua LivnatProfessor of AccountingB.Sc. 1973, Hebrew; M.A. 1978, Ph.D. 1978,New York

Henry C. Lucas, Jr.Professor of Information SystemsB.S. 1966, Yale; M.S. 1968, Ph.D. 1970,Massachusetts Institute of Technology

Durairaj MaheswaranProfessor of MarketingB.Tech. 1973, Madras; M.B.A. 1976, IndianInstitute of Management; Ph.D. 1987,Northwestern

Rita Maldonado-BearProfessor of Finance and EconomicsB.B.A. 1960, Auburn; Ph.D. 1969, New York

Edward L. MelnickProfessor of Statistics; Chairman,Department of Statistics and OperationsResearchB.A. 1960, Lehigh; M.S. 1963, VirginiaPolytechnic Institute; Ph.D. 1970, GeorgeWashington

John MerrickVisiting Professor of FinanceB.A. 1976, LaSalle; Ph.D. 1981, Brown

James OhlsonLeonard N. Stern Professor of Business;Professor of Accounting and TaxationM.B.A. 1968, Ph.D. 1972, California(Berkeley)

Joel OwenProfessor of StatisticsB.A. 1956, Yeshiva; M.A. 1957, Boston; Ph.D.1966, Harvard

Manfred PadbergProfessor of Operations Management;Research ProfessorB.S. 1964, M.S. 1967, Westfälische Wilhelms(Münster); M.S., Ph.D. 1971, Carnegie Mellon

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Michael PinedoProfessor of Operations Management;Research Professor; Chairman, Departmentof Operations ManagementM.S. 1973, Delft; M.S. 1975, Ph.D. 1978,California (Berkeley)

Harvey A. PoniachekVisiting Professor of Finance andInternational BusinessB.A., 1970, M.A. 1972, Ph.D. 1977, StateUniversity of New York

Thomas A. PugelProfessor of Economics and InternationalBusiness; Area Chairman, InternationalBusinessB.A.1974, Michigan State; Ph.D.1978, Harvard

Roy RadnerLeonard N. Stern Professor of Business;Professor of Economics and InformationSystemsPh.B. 1945, B.S. 1950, M.S. 1951, Ph.D.1956, Chicago

S. Abraham RavidVisiting Professor of FinanceB.S. 1975, Tel-Aviv; M.S. 1977, Ph.D. 1979, Cornell

Joseph W. RebovichClinical Professor of Accounting andTaxationB.A. 1956, M.B.A. 1960, Rutgers; Ph.D.1972, New York; CPA

Fred B. RenwickProfessor of FinanceB.S. 1950, Morehouse College; M.S. 1956,Harvard; M.B.A. 1965, Ph.D. 1966, New York

Matthew RichardsonProfessor of FinanceB.A. 1984, M.A. 1984, California (LosAngeles); Ph.D. 1989, Stanford

Donald RichterProfessor of StatisticsB.A. 1952, Bowdoin College; Ph.D. 1959,North Carolina

David RogersProfessor of Management and SociologyB.A. 1953, Ph.D. 1960, Harvard

Joshua RonenProfessor of AccountingB.A. 1959, M.S. 1963, Hebrew; Ph.D. 1969,Stanford; CPA

Ryuzo SatoC. V. Starr Professor of Economics; Director,Center for Japan-U.S. Business andEconomic StudiesB.A. 1954, Hitotsubashi; Ph.D. 1962, JohnsHopkins; Dr. of Ec. 1969, Hitotsubashi

Anthony SaundersJohn M. Schiff Professor of Finance;Chairman, Department of FinanceB.S. 1971, M.S. 1972, Ph.D. 1981, LondonSchool of Economics

Zur ShapiraProfessor of Management; ResearchProfessorB.Sc. 1970, M.Sc. 1972, Hebrew; Ph.D. 1976,Rochester

Robert W. ShoemakerProfessor of MarketingB.A. 1961, Amherst College; M.S. 1964,Massachusetts Institute of Technology;Ph.D. 1972, Carnegie Mellon

William L. SilberAbraham Gitlow Professor of Finance andEconomics; Director, L. Glucksman Institutefor Research in Securities MarketsB.A. 1963, Yeshiva; M.A. 1965, Ph.D. 1966,Princeton

Gary A. SimonProfessor of StatisticsB.S. 1966, Carnegie Mellon; Ph.D. 1972,Stanford

Jeffrey S. SimonoffProfessor of StatisticsB.S. 1976, SUNY (Stony Brook); M.Phil.1978, Ph.D. 1980, Yale

George D. SmithClinical Professor of EconomicsB.A. 1968, Fairleigh Dickinson; M.A. 1970,Ph.D. 1976, Harvard

Roy C. SmithKenneth Langone Professorship ofEntrepreneurship; Clinical Professor ofFinance and International BusinessB.S. 1960, U.S. Naval Academy; M.B.A. 1966,Harvard

George H. SorterVincent C. Ross Professor of Accounting;Professor of Law; University ProfessorPh.B. 1953, M.B.A. 1955, Ph.D. 1963,Chicago; CPA

Lee SproullLeonard N. Stern Professor of Business;Professor of Information Systems andManagementB.A. 1967, Wellesley; M.A.T. 1969, Wesleyan;M.A. 1975, Ph.D. 1977, Stanford

William H. StarbuckITT Professor of Creative ManagementB.A. 1956, Harvard; M.S. 1959, Ph.D. 1964,Carnegie Institute

Joel H. SteckelProfessor of Marketing; Chairman,Department of MarketingB.A. 1977, Columbia; M.B.A. 1979, M.A.1980, Ph.D. 1982, Pennsylvania

Edward A. StohrProfessor of Information Systems; Research ProfessorB.E. 1959, Melbourne; M.B.A. 1969, Ph.D.1973, California (Berkeley)

Marti G. SubrahmanyamCharles E. Merrill Professor of FinanceB.Tech. 1967, Indian Institute ofTechnology; Dipl. 1969, Indian Institute ofManagement; Ph.D. 1974, MassachusettsInstitute of Technology

Richard SyllaHenry Kaufman Professor of the History ofFinancial Institutions and Markets;Professor of EconomicsB.A. 1962, M.A. 1965, Ph.D. 1969, Harvard

Aaron TenenbeinProfessor of Statistics and Actuarial ScienceB.S. 1965, Manitoba; M.A. 1966, Ph.D. 1969,Harvard

Myron UretskyProfessor of Information SystemsB.B.A. 1961, City College; M.B.A. 1962, Ph.D.1965, Ohio State

Narayanan VaghulVisiting Professor of Economics andInternational BusinessB.Com. 1956, Loyola College

Paul A. WachtelProfessor of Economics; Research ProfessorB.A. 1966, Queens College; M.A. 1968, Ph.D.1971, Rochester

Ingo WalterCharles Simon Professor of AppliedFinancial Economics; Sidney HomerDirector, New York University SalomonCenterB.A. 1962, M.S. 1963, Lehigh; Ph.D. 1966,New York

Lawrence J. WhiteArthur E. Imperatore Professor ofEntrepreneurial StudiesB.A. 1964, Harvard; M.Sc. 1965, LondonSchool of Economics; Ph.D. 1969, Harvard

Bernard YeungAbraham Krasnoff Professor of GlobalBusinessB.A. 1979, Western Ontario; M.B.A. 1981,Ph.D. 1984, Chicago

Dale E. ZandProfessor of ManagementB.E.E. 1945, Cooper Union; M.B.A. 1949,Ph.D. 1954, New York

Eitan ZemelW. Edwards Deming ProfessorB.S. 1970, Hebrew; M.S. 1972, WeizmanInstitute of Science; Ph.D. 1976, CarnegieMellon

ASSOCIATE PROFESSORS

Fernando AlvarezClinical Associate Professor of Managementand EntrepreneurshipB.S. 1967, Nebraska; Ph.D. 1994, New York

Ravi AnupindiAssociate Professor of OperationsManagementB.E. 1982, M.E. 1984, India; M.S. 1989,Ph.D. 1993, Carnegie Mellon

Yannis BakosAssociate Professor of Information SystemsB.S. 1980, M.S. 1984, Ph.D. 1988,Massachusetts Institute of Technology

Patricia BarronClinical Associate Professor of InformationSystemsTeachers Diploma, 1963; M.B.A. 1972,Harvard Business School

Eli BartovAssociate Professor of AccountingB.A. 1977, Tel-Aviv; Ph.D. 1989, California(Berkeley)

Jacob BoudoukhAssociate Professor of Finance andInternational BusinessB.S. 1986, Israel Institute of Technology;Ph.D. 1991, Stanford

Patricia Bower CooleyVisiting Associate Professor of ManagementCommunicationB.A. 1965, California; M.A. 1972, New York

Paul R. BrownAssociate Professor of Accounting;Chairman, Department of Accounting,Taxation, and Business LawB.A. 1972, Franklin and Marshall College;M.B.A. 1978, Ph.D. 1979, Texas (Austin)

José CampaAssociate Professor of Economics andInternational BusinessB.A. 1987, Ovedo (Spain); M.A. 1989, Ph.D.1991, Harvard

Michael J. CapekClinical Associate Professor of ManagementCommunicationB.A. 1962, M.A. 1963, Marquette; Ph.D.1968, Wisconsin

Sinan CebenoyanVisiting Associate Professor of FinanceB.A. 1976, M.A. 1978, Bogazici (Turkey);M.Phil. 1982, Ph.D. 1986, New York

Chao ChenVisiting Associate Professor of Managementand International BusinessM.A. 1987, Ph.D. 1992, SUNY (Buffalo)

Harry G. ChernoffVisiting Associate Professor of OperationsManagementB.A. 1968, M.S. 1975, Ph.D. 1985, New York

Navin ChopraVisiting Associate Professor of FinanceB.Tech. 1974, Indian Institute ofTechnology; M.B.A. 1979, Indian Institute of Management; Ph.D. 1990, Michigan

Kim P. CorfmanAssociate Professor of Marketing; Director of the Langone ProgramB.A. 1977, Princeton; M.B.A. 1982, Ph.D.1985, Columbia

Michael DarlingClinical Associate Professor of MarketingB.A. 1969, M.B.A. 1972, Sir George Williams(Montreal)

Vasant DharAssociate Professor of Information SystemsB.S. 1978, Indian Institute of Technology;Ph.D. 1984, Pittsburgh

Alex DontohAssociate Professor of AccountingB.Sc. 1973, Ghana; M.B.A. 1976, California(Berkeley); Ph.D. 1984, New York

Haim Dov FriedAssociate Professor of AccountingB.Com. 1971, Sir George Williams(Montreal); M.B.A. 1974, Ph.D. 1978, New York

Halina FrydmanAssociate Professor of Statistics andOperations ResearchB.Sc. 1972, Cooper Union; M.A. 1974,M.Phil. 1976, Ph.D. 1978, Columbia

Raghu GarudAssociate Professor of ManagementB.Tech. 1978, Indian Institute ofTechnology; M.B.A. 1980, Xavier LaborRelations Institute (India); Ph.D. 1989,Minnesota

Peter GolderAssociate Professor of MarketingB.S. 1984, Pennsylvania; M.S. 1988,National; Ph.D. 1994, Southern California

Eric GreenleafAssociate Professor of MarketingB.S. 1977, New Hampshire; M.B.A. 1981,Ph.D. 1986, Columbia

Teresa A. JohnAssociate Professor of AccountingB.S. 1975, 1976, Florida; Ph.D. 1986, New York

Jarl G. KallbergAssociate Professor of FinanceB.S. 1972, British Columbia; M.S. 1974,Simon Fraser; Ph.D. 1979, British Columbia

April KleinAssociate Professor of AccountingB.A. 1977, Pennsylvania; M.B.A. 1979, Ph.D.1983, Chicago

Peter LaknerAssociate Professor of Statistics andOperations ResearchB.A. 1978, M.A. 1980, Eötvos Loránd(Budapest); Ph.D. 1989, Columbia

Theresa K. LantAssociate Professor of ManagementB.A. 1981, Michigan; Ph.D. 1987, Stanford

Alvin LiebermanClinical Associate Professor of Marketing;Executive Director, Initiative inEntertainment, Media, and TechnologyB.S. 1960, Cornell; M.B.A. 1963, New York

Crocker H. LiuAssociate Professor of FinanceB.B.A. 1976, Hawaii; M.S. 1980, Wisconsin;Ph.D. 1988, Texas

Tina M. LowreyVisiting Associate Professor of MarketingB.S. 1986, Houston; M.A. 1988, Ph.D. 1992, Illinois

Ajay MaindirattaAssociate Professor of AccountingB.Tech. 1975, Indian Institute ofTechnology; Ph.D. 1984, Carnegie Mellon

Jian Ping MeiAssociate Professor of FinanceB.S. 1982, Fudan; M.A. 1986, Shanghai;Ph.D. 1990, Princeton

Geeta MenonAssociate Professor of MarketingB.A. 1981, M.A. 1983, Madras; Ph.D. 1991,Illinois

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Stephen MeziasAssociate Professor of ManagementB.A. 1980, Columbia; M.S. 1985, Ph.D.1987, Stanford

Frances J. MillikenAssociate Professor of ManagementB.A. 1978, Columbia; M.B.A. 1982, Ph.D.1985, City College

Elizabeth W. MorrisonAssociate Professor of ManagementB.A. 1984, Brown; M.S. 1988, Ph.D. 1991,Northwestern

Vicki MorwitzAssociate Professor of MarketingB.S. 1983, Rutgers; M.S. 1986, Polytechnic;M.S. 1989, Ph.D. 1991, Pennsylvania

Michael A. MosesAssociate Professor of OperationsManagementB.S. 1962, Worcester Polytechnic Institute;M.S. 1964, Ph.D. 1967, Northwestern

Praveen NayyarAssociate Professor of OperationsManagementB.Tech. 1978, Indian Institute ofTechnology; M.B.A. 1981, Indian Institute ofManagement; Ph.D. 1988, Michigan

Eli OfekAssociate Professor of FinanceB.A. 1986, Tel-Aviv; M.B.A. 1987, Ph.D.1991, Chicago

James R. RatliffAssociate Professor of AccountingB.S. 1956, Marshall; M.B.A. 1958, Louisville;Ph.D. 1970, New York; CPA

Oksanna ReynoldsClinical Associate Professor of ManagementCommunicationsB.A. 1966, Rutgers; M.A. 1967, MiddleburyCollege; Ph.D. 1971, Tulane

Nouriel RoubiniAssociate Professor of Economics andInternational BusinessB.A. 1982, Bocconi (Milan); Ph.D. 1988,Harvard

Stephen G. RyanAssociate Professor of AccountingB.A. 1981, Dartmouth College; Ph.D. 1988,Stanford

Irving SchenklerClinical Associate Professor of ManagementCommunicationB.A. 1975, M.A. 1976, M.Phil. 1978,Columbia

Eugene SecundaVisiting Associate Professor of MarketingB.S. 1956, New York; M.S. 1962, Boston;Ph.D. 1988, New York

Sridhar SeshadriAssociate Professor of OperationsManagementB.Tech. 1978, Indian Institute ofTechnology; P.G.D.M. 1980, Indian Instituteof Management; Ph.D. 1993, California(Berkeley)

James Myles ShaverAssociate Professor of Management andInternational BusinessC.Comm. 1988, Alberta; Ph.D. 1994,Michigan

Larry J. ShrumVisiting Associate Professor of MarketingB.B.A. 1986, Houston; M.S. 1987, Ph.D.1997, Illinois

Venkataramani SrivatsanVisiting Associate Professor of Managementand International BusinessB.Tech. 1985, Indian Institute ofTechnology; Ph.D. 1992, Columbia

Rangarajan K. SundaramAssociate Professor of FinanceB.A. 1982, Madras; M.B.A. 1984, IndianInstitute of Management; M.A. 1987, Ph.D.1988, Cornell

Jon A. TurnerAssociate Professor of Information Systems;Acting Chairman, Information SystemsB.E. 1958, Yale; M.S. 1971, M.Phil. 1976,Ph.D. 1980, Columbia

Alexander TuzhilinAssociate Professor of Information Systems;Director, M.S. Program in InformationSystemsB.A. 1980, New York; M.S. 1981, Stanford;Ph.D. 1989, New York

Norman H. WhiteClinical Associate Professor of InformationSystems; Director of CDERB.A. 1966, Harvard; M.S. 1971, Ph.D. 1974,New York

Robert F. WhitelawAssociate Professor of FinanceB.S. 1984, Massachusetts; Ph.D. 1993,Stanford

Jeremy L. WiesenAssociate Professor of BusinessLaw/AccountingB.S. 1963, Pennsylvania; J.D. 1966, Harvard

Aline WolffClinical Associate Professor of ManagementCommunicationB.A. 1966, California (Berkeley); M.A. 1978,Ph.D. 1981, Columbia

David YermackAssociate Professor of FinanceB.A. 1985, J.D. 1991, M.B.A. 1991, M.A.1993, Ph.D. 1994, Harvard

Paul ZarowinAssociate Professor of AccountingB.A. 1977, Pennsylvania; M.B.A. 1981, Ph.D.1985, Chicago

ASSISTANT PROFESSORS

Heitor AlmeidaAssistant Professor of FinanceB.A. (bus. admin.) 1992, UNA, BeloHorizonte-MG (Brazil); B.A. (econ.) 1992,UFMG-MG (Brazil); M.S. 1995, PUC-Rio(Brazil); Ph.D. 2000, Chicago

Richard J. ArendAssistant Professor of ManagementB.A. 1986, Toronto; M.B.A. 1989, York; Ph.D.1995, British Columbia

Mor ArmonyAssistant Professor of OperationsManagementB.S. 1993, M.S. 1996, Hebrew; M.S. 1997,Ph.D. 1999, Stanford

Caroline BartelAssistant Professor of Management andOrganizational BehaviorB.A. 1992, SUNY (Stony Brook); M.A. 1996,Ph.D. 1998, Michigan

Karen BeckerVisiting Assistant Professor of MarketingB.S. 1987, Cedar Crest College; M.S. 1989,Pennsylvania State; Ph.D. 1998, Lehigh

Abraham BernsteinAssistant Professor of Information SystemsB.S. 1992, Ecole Nationale de la Statistiqueet de l’Administration Economique; M.S. 1993, London School of Economics;Ph.D. 2000, Massachusetts Institute ofTechnology

Jeanne CalderonClinical Assistant Professor of Business LawB.A. 1975, Cornell; J.D. 1978, Georgetown

Jennifer N. CarpenterAssistant Professor of FinanceB.S. 1987, M.A. 1993 (math.), M.A. 1994,Ph.D. 1995, Pennsylvania

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Xianghui ChenAssistant Professor of Statistics andOperations ResearchB.E. 1989, B.S. 1989, Tsinghua; Ph.D. 1995,Harvard

Ya-Ru ChenAssistant Professor of Management andInternational BusinessB.A. 1986, Soochow; M.A. 1991, Ph.D. 1995,Columbia

Yuxin ChenAssistant Professor of MarketingB.S. 1992, Fudan; M.S. 1994, Zhejiang;M.S.B.A. 1997, Washington

Wilbur C. ChungAssistant Professor of Management andInternational BusinessB.S. 1986, M.S. 1990, Carnegie Mellon;Ph.D. 1997, Michigan

Matthew J. ClaytonAssistant Professor of FinanceB.S. 1991, Carleton College; M.S. 1992,Ph.D. 1996, Northwestern

Qiang DaiAssistant Professor of FinanceB.S. 1988, Peking; Ph.D. 1993, Stanford

Michael DavernAssistant Professor of Information SystemsB.Com. 1989, 1992, Tasmania; Ph.D. 1998,Minnesota

Rohit S. DeoAssistant Professor of Statistics andOperations ResearchB.S. 1988, Fergusson; M.S. 1990, Poona(India); Ph.D. 1995, Iowa

Ronel ElulVisiting Assistant Professor of FinanceB.A. 1987, California; Ph.D. 1995, Yale

Skander EssegaierAssistant Professor of MarketingB.S. 1992, Ecole Nationale de la Statistiqueet de l’Administration Economique; M.S. 1993, London School of Economics; Ph.D. 2000, Columbia

Zsuzsanna FluckAssistant Professor of FinanceM.A. 1983, Budapest School of Economics;M.A. 1990, Ph.D. 1993, Princeton

Alessandra FogliAssistant Professor of Economics andInternational BusinessB.A. 1994, Bocconi; (Italy); M.A. 1995,Ancona (Italy); Ph.D. 2000, Pennsylvania

Michelle GittelmanAssistant Professor of Management andOrganizational BehaviorB.A. 1983, Tufts; M.B.A. 1989, Columbia;Ph.D. 2000, Pennsylvania

Dhananjay GodeAssistant Professor of Accounting, Taxation,and Business LawB.S. 1986, Banaras Hindu; M.B.A. 1988,Indian Institute of Management; M.S. 1990,1992, Ph.D. 1994, Carnegie Mellon

Jay HartzellAssistant Professor of FinanceB.S. 1991, Trinity; Ph.D. 1998, Texas

Richard HendlerClinical Assistant Professor of Business LawB.S. 1985, J.D. 1988, New York

Gregory JanicikAssistant Professor of Management andOrganizational BehaviorB.S.E. 1988, Duke; M.B.A. 1997, Ph.D. 1998,Chicago

Raja KabaliswaranVisiting Assistant Professor of ManagementB.Tech. 1975, Indian Institute ofTechnology; M.E. 1980, Manhattan College;M.Phil. 1983, Ph.D. 1988, New York

Sudhir KarunakaranAssistant Professor of MarketingB.E. 1989, Anna (India); M.S. 1991, IndianInstitute of Technology; Ph.D. 1998, Cornell

Andrew A. KingAssistant Professor of OperationsManagement and ManagementB.A. 1981, Brown; M.S. 1984, California(Berkeley); Ph.D. 1994, MassachusettsInstitute of Technology

Rachel S. KowalClinical Assistant Professor of Business LawB.A. 1977, Cornell; J.D. 1981, Yeshiva

Sabine KuesterVisiting Assistant Professor of MarketingB.A. 1986, M.A. 1990, Cologne; Ph.D. 1995,London Business School

Terri KurtzbergVisiting Assistant Professor of ManagementB.A., M.A. 1995, Chicago; M.S. 1997, Ph.D.2000, Northwestern

Michael LenoxAssistant Professor of ManagementB.S. 1993, M.S. 1994, Virginia; Ph.D. 1999,Massachusetts Institute of Technology

Amnon LevyVisiting Assistant Professor of FinanceB.A. 1994, California (Berkeley); Ph.D.2000, Northwestern

Alexander LjungqvistAssistant Professor of FinanceM.S. 1991, Lund (Sweden); M.Phil. 1994,Ph.D. 1995, Oxford

Anthony W. LynchAssistant Professor of FinanceB.A. 1986, M.A. 1988, J.D. 1989,Queensland; Ph.D. 1994, Chicago

Carol A. MarquardtAssistant Professor of AccountingB.A. 1988, Wisconsin; M.A. 1990, Arizona;Ph.D. 1997, Cornell

Xavier MartinAssistant Professor of Management andInternational BusinessB.S. 1981, Lycée Jean Prevost; M.A. 1986,Lyon; M.B.A. 1989, York; Ph.D. 1996,Michigan

Partha MohanramAssistant Professor of AccountingB.Tech. 1990, Indian Institute ofTechnology; M.B.A. 1992, Indian Institute ofManagement; Ph.D. 1998, Harvard

Sunder NarayananVisiting Assistant Professor of MarketingB.Tech. 1980, Indian Institute ofTechnology; M.B.A. 1982, Indian Institute of Management; M.Phil., Ph.D. 1990,Columbia

Fabrizio PerriAssistant Professor of EconomicsB.S. 1992, Bocconi (Milan); M.A. 1994,Ph.D. 1999, Pennsylvania

Marco ProtanoVisiting Assistant Professor of MarketingB.S. 1985, Northeastern; M.B.A. 1994,Virginia

Foster ProvostAssistant Professor of Information SystemsB.S. 1986, Duquesne; M.S. 1988, Ph.D.1992, Pittsburgh

Vincenzo QuadriniAssistant Professor of Economics andInternational BusinessB.S. 1990, Ancona (Italy); M.A. 1991,CORIPE-Piemonte, Turin (Italy); Ph.D.1996, Pennsylvania

Joshua RosenbergAssistant Professor of FinanceB.A. 1989, Oberlin College; Ph.D. 1996,California (San Diego)

Gideon SaarAssistant Professor of FinanceB.B.A. 1994, Baruch; M.A. 1996, Cornell

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Rachelle SampsonAssistant Professor of Management andInternational BusinessB.B.A., LL.B. 1992, Queensland University ofTechnology; Ph.D. 1999, Michigan

Alexander ShapiroAssistant Professor of FinanceB.S. 1989, Technion (Israel); M.B.A. 1992,Tel-Aviv; M.A. 1996, Ph.D. 1998,Pennsylvania

Arun SundarajanAssistant Professor of Information SystemsB.Tech. 1993, Indian Institute ofTechnology; M.S. 1995, D.Phil. 1997,Rochester

Dara SzyliowiczVisiting Assistant Professor of Managementand International BusinessB.A. 1988, Barnard College, Columbia; M.A. 1990, California (Berkeley); Ph.D.1998, Illinois

Christopher L. TucciAssistant Professor of OperationsManagementB.S. 1982, B.A. 1983, M.S. 1983, Stanford;M.S. 1991, Ph.D. 1997, MassachusettsInstitute of Technology

Vasilis VassalosAssistant Professor of Information SystemsDiploma 1994, National Technical(Athens); M.S. 1998, Ph.D. 1999, Stanford

Kimberly Wade-BenzoniAssistant Professor of Management andOrganizational BehaviorB.S. 1989, Cornell; M.S. 1995, Ph.D. 1996,Northwestern

Batia Mishan WiesenfeldAssistant Professor of ManagementB.A. 1988, Ph.D. 1996, Columbia

Patricia WilliamsAssistant Professor of MarketingB.A. 1989, Stanford; M.B.A. 1993, Ph.D.1999, California (Los Angeles)

Amy WrzesniewskiAssistant Professor of Management andOrganizational BehaviorB.A. 1994, Pennsylvania; M.A. 1996, Ph.D.1999, Michigan

Shinkyu YangAssistant Professor of Information SystemsB.S. 1994, Seoul National; M.B.A. 1994,Massachusetts Institute of Technology

INSTRUCTORS

Vishal GaurInstructor in Operations ManagementB.Tech. 1993, M.B.A. 1995, Indian Instituteof Management

Jessica WachterInstructor in FinanceB.A. 1996, Harvard College; Ph.D. 2000,Harvard

PROFESSORS EMERITI

Frank J. AngellProfessor Emeritus of FinanceB.S. 1941, New York; M.B.A. 1958, CUNY

Hector AntonProfessor Emeritus of AccountingB.S. 1942, M.B.A. 1947, California (LosAngeles); Ph.D. 1953, Minnesota

Lawrence D. BrennanProfessor Emeritus of BusinessCommunicationB.C.S. 1937, M.A. 1947, Ph.D. 1951, New York

Julian Gerard BuckleyProfessor Emeritus of FinanceB.A. 1928, Harvard; M.B.A. 1937, Ph.D.1952, New York; CFA

Lincoln H. ClarkProfessor Emeritus of MarketingB.A. 1937, M.B.A. 1938, Ph.D. 1940, Chicago

Arnold CorbinProfessor Emeritus of MarketingB.S. 1931, M.B.A. 1934, Harvard; Ph.D.1954, New York

Peter F. DruckerProfessor Emeritus of Management;Distinguished Visiting LecturerJ.D. 1931, Frankfurt; D.C.S. 1956, Pace;hon.: Dr.Econ. 1962, Nihon, Tokyo, 1970,St. Gallen, Switzerland; hon.: D.Phil. 1971,Bradford; L.H.D. 1973, Temple; hon.:D.Soc.Sci. 1975, Brussels; LL.D. 1964,Scranton, Wayne State, 1975, Notre Dame

Peter DubnoProfessor Emeritus of Behavioral Scienceand ManagementB.A. 1942, M.A. 1954, Brooklyn College;Ph.D. 1960, New York

Harold A. EppstonProfessor Emeritus of TaxationB.C.S. 1918, M.C.S. 1920, B.S. 1924, NewYork; J.D. 1922, Fordham; CPA

John FayerweatherProfessor Emeritus of InternationalBusiness and ManagementB.S. (Eng.) 1943, Princeton; M.B.A. 1948,Ph.D. 1954, Harvard

Abraham L. GitlowProfessor Emeritus of Economics; AdjunctProfessor of ManagementB.A. 1939, Pennsylvania; M.A. 1940, Ph.D.1947, Columbia

Gerald J. GlasserProfessor Emeritus of Business StatisticsB.S. 1953, M.B.A. 1954, Ph.D. 1957, New York

Alfred GrossProfessor Emeritus of MarketingB.B.A. 1936, M.B.A. 1939, City College; Ph.D.1945, New York

Robert S. HolzmanProfessor Emeritus of TaxationB.S. (Econ.) 1929, Pennsylvania; M.A. 1947,Ph.D. 1953, New York

Charles C. HullProfessor Emeritus of Business WritingB.C.S. 1918, New York

J. Harold JanisProfessor Emeritus of BusinessCommunicationB.S. 1932, M.A. 1942, New York

Irwin KabakProfessor Emeritus of Operations ResearchB.S. 1956, M.E. 1958, Ph.D. 1964, New York

Joseph S. KeiperProfessor Emeritus of EconomicsPh.B. 1936, Muhlenberg College; M.B.A.1937, Pennsylvania; Ph.D. 1947, New York

Harry M. KellyProfessor Emeritus of FinanceB.A. 1933, LL.B. 1936, Columbia; J.S.D.1940, St. John’s

Ernest KurnowProfessor Emeritus of Business Statistics;Adjunct Professor of Statistics andOperations ResearchB.S. 1932, M.S. (Educ.) 1933, City College;Ph.D. 1951, New York

Ely KushelProfessor Emeritus of AccountingB.S. 1950, M.B.A. 1951, New York; CPA

Benjamin LipsteinProfessor Emeritus of MarketingB.A. 1943, Brooklyn College; M.A. 1946,Ph.D. 1956, Columbia

140

Norman H. MartinProfessor Emeritus of ManagementB.A. 1939, Wisconsin; M.A. 1949, Ph.D.1954, Chicago

Benjamin NewmanProfessor Emeritus of AccountingB.A. 1934, Brooklyn College; M.S. (Educ.)1938, M.B.A. 1948, City College; CPA

Alex W. RatheProfessor Emeritus of ManagementB.S.E.E. 1933, M.S.I.E. 1935, Dipl.Ing. 1935,Dr.Ing. 1936, Charlottenburg Institute ofTechnology

Lawrence RitterProfessor Emeritus of FinanceB.A. 1943, Indiana; M.A. 1948, Ph.D. 1951,Wisconsin

Arnold SametzProfessor Emeritus of FinanceB.A. 1940, Brooklyn College; M.A. 1942,Ph.D. 1951, Princeton

Michael SchiffProfessor Emeritus of Accounting; AdjunctProfessor of AccountingB.B.A. 1936, M.B.A. 1939, City College; Ph.D.1947, New York; CPA

Melvin F. ShakunProfessor Emeritus of Statistics andOperations ResearchB.M.E. 1950, City College; M.S. 1951,Eng.Sc.D. 1953, Columbia

F. Robert ShoafProfessor Emeritus of MarketingB.A. 1952, Dickinson College; M.S. 1955,Ph.D. 1957, Purdue

Egbert H. van DeldenProfessor Emeritus of ManagementB.A. 1928, M.A. 1930, Ph.D. 1933, New York

James D. WeinlandProfessor Emeritus of Business PsychologyB.A. 1917, Pomona College; M.A. 1922,Ph.D. 1927, Columbia

Richard R. WestProfessor Emeritus of Finance; DeanEmeritusB.A. 1960, Yale; M.B.A. 1963, Ph.D. 1964,Chicago

Ralph M. ZinkProfessor Emeritus of BusinessCommunicationB.S. 1935, M.A. 1941, New York

ADJUNCT FACULTY

One of the distinctive advantages of the SternSchool is the availability of many dis-tinguished practitioners in relevant fields toserve as adjunct faculty. Over the years, thistradition has enriched the School’seducational mission while lending apragmatic dimension to its curriculum. Theadjunct faculty employed by the SternSchool include the following:

Vipul AgrawalPh.D., Operations Management

Franklin AllenPh.D., Finance

Linda AllenPh.D., Finance

Jeffrey A. BarclayM.B.A., Finance

Daniel BarrishM.S., Information Systems

Susan BeckerM.B.A., Ph.D., ManagementCommunication

Francisco BenzoniM.A., Management

Ronald E. BerenbeimM.A., J.D., Market Ethics, and Business Law

Michael BettisonM.S., Information Systems

Anindya BhattacharyaM.A., Ph.D., International Business

Kenneth S. BigelM.B.A., Markets, Ethics, and Law

Zenas BlockB.S., Entrepreneurship

Donna BogatinM.B.A., Information Systems

Adrian BowlesPh.D., Information Systems

Kevin BrabazonM.P.A., Information Systems

Rodrigo K. BrionesM.B.A., International Business

Alan BrottM.B.A., Accounting

Allan BrownM.A., Finance

George M. BuckleyJ.D., Management

Ernest J. CampbellM.S., Information Systems

Jeffrey A. CarrM.B.A., Marketing

Willa ChenM.S., Statistics

Philip B. ChenokM.B.A., Accounting

Elizabeth CrawfordB.A., Marketing

Lawrence S. DryerM.B.A., Accounting

William DugganM.B.A., Marketing

Joseph R. DziwuraPh.D., Economics

Alan EchtenkampM.A., Management

David EllnerM.B., Marketing

Herbert EngelhardtM.B.A., Management

Cheryl L. FleisherM.B.A., Management Communication

Seth FreemanJ.D., Economics

Henry D. FuldB.B.A., Marketing

Brian C. GendreauM.A., Ph.D., Finance

Arlene GerwinM.B., Marketing

Ian H. GiddyPh.D., Finance

Barry GoldM.B.A., Finance

Neal GoldsmithPh.D., Management

Robert GordonDipl., Finance

Allan GrodyB.S., Information Systems

David HaitM.S., Finance

Dexter HintonB.S., Marketing

Achim Max HolmesM.B.A., J.D., Finance

Paul P. HoppePh.D., Statistics and Operations Research

Jon HousmanM.B.A., Marketing

141

Jonatan JelenPh.D., Information Systems

David JuranM.B.A., Ph.D., Operations Management

Edward KassPh.D., Management

Eleni Kikiras CarterM.B.A., Management

Harry KrenskyM.B.A., International Business

Ernest KurnowPh.D., Statistics and Operations Research

Mitchell LangbertM.B.A., Ph.D., Management

Anat LechnerM.B.A., Management

Hans LevenbachPh.D., Statistics

David LiebeskindPh.D., Management

Pai-Chun MaPh.D., Information Systems

Arjun MathraniM.A., Finance

Michael MazzaresePh.D., Management

Susan McCliveM.B.A., Management Communication

Kathleen McGarhanPh.D., Accounting

Charles McGillM.B., Finance

Roger MesznikM.B.A., Ph.D., Finance

Frederick MilitelloM.I.A., International Business

Cyrus MohebbiPh.D., Statistics and Operations Research

Marissa J. MoranJ.D., Accounting

Marion MorgenthalM.B.A., Information Systems

Katherine MosbyM.A., Management Communication

Charles MurphyM.B.A., Finance

Michael P. NiemiraM.A., Economics

Paul NoglowsM.A., Finance

William PagePh.D., Management Communication

Michael A. PalleyPh.D., Information Systems

Kenneth ParkinsonM.B.A., Finance

Jennifer ParlamisB.A., Management

R. Scot PerlinM.B.A., International Business

Corey PhelpsM.B.A., Management

Harvey PoniachekPh.D., Finance

Dawn PorterB.A., Statistics

Kenneth A. PrestonB.S., Management

Heinz RiehlP.M.D., International Business

Arthur H. RosenbloomM.A., J.D., Finance

Gerald RosenfeldPh.D., Finance

Souyma RoyPh.D., Marketing

Richard RubinsteinM.B.A., Marketing

Tony SalingerB.A., Information Systems

Rungson SamroengrajaPh.D., Operations Management

Michael SchiffPh.D., Accounting

Celia SeupelM.A., Management Communication

Jeffrey S. ShawPh.D., Statistics and Operations Research

Brian ShydloB.S., Statistics and Operations Research

Martin SiegelM.B.A., International Business

Fred SilvermanPh.D., Operations Management

Bruce SkoorkaPh.D., Economics and InternationalBusiness

Thomas SmithM.B.A., Marketing

Ronald H. SmithiesJ.D., Ph.D., Market Ethics, and Business Law

William F. SonnenreichM.B.A., Finance

Valerie SpitlerM.B.A., Information Systems

Frederick SpreyerM.A., Management Communication

Susan StehlikM.S., Management Communication

Miriam SternJ.D., Marketing

Robert StovallM.B.A., Finance

Frank L. SullivanM.B.A., Finance

Kishore TandonPh.D., International Business

Abdullah TanselPh.D., Information Systems

Irwin TantleffM.B.A., Management

Richard TashjianM.A., Statistics and Operations Research

Amy TaylorPh.D., Management and OrganizationalBehavior

Michael L. TindallPh.D., Economics

Jay TremblayM.B., Marketing

Richard WilliamsM.B.A., International Business

Ashok VoraPh.D., Finance

Arthur ZeikelM.B., Finance

Lawrence ZicklinM.B.A., Management

GRADUATE COMMISSION

The voting membership of the commissionis composed of the dean and an elected fac-ulty member from each of the schools offer-ing a graduate program as well as academicofficers from the central administration.Each school is also represented by an electedmember of its student body.

142

Degree and Certificate Programs1

PROGRAM1 HEGIS NUMBER2 DEGREES CONFERRED1

Accounting 0502 M.B.A., M.Phil., Ph.D.

Accounting (CPA Program)3 0502 M.B.A., M.S.

Economics 0517 M.B.A., M.Phil., Ph.D.

Executive M.B.A. 0506 M.B.A.

Global Executive M.B.A. 0506 M.B.A.

Finance 0504 M.B.A., M.Phil., Ph.D.

Executive M.B.A. in Finance 0504 M.B.A.

General Management4 0506 M.B.A.

Information Systems 0701 M.B.A., M.Phil., Ph.D.

Information Systems 0702 M.S.

Management and Organizational Behavior 0506 M.B.A., M.Phil., Ph.D.

Marketing 0509 M.B.A., M.Phil., Ph.D.

Mathematics/Statistics and Operations Research 1799 M.S.

Operations Management 0599 M.B.A.

Statistics and Operations Research 0507 M.B.A., M.S., M.Phil., Ph.D.

Joint Degree Programs1

PROGRAM1 HEGIS NUMBER2

B.A.-M.S. (in Statistics and Operations Research) (with the College of Arts and Science) 0507

B.S.-M.S. (in Statistics and Operations Research) (with the Undergraduate College of the Stern School) 0507

J.D.-M.B.A. (with the School of Law) 14015

M.A. (in Politics)-M.B.A. (with the Graduate School of Arts and Science) 49995

M.A. (in French Studies)-M.B.A. (with the Graduate School of Arts and Science) 03125

M.P.A.-M.B.A. (with the Wagner Graduate School of Public Service) 2102/12025

M.S. (in Biology)-M.B.A. (with Graduate School of Arts and Science) 04015

1 As registered by the New York State Education Department, Office of Higher Education and the Professions, Cultural Education Center, Room 5B28, Albany, NY 12230; telephone: (518) 474-5851.

2 HEGIS: Higher Education General Information Survey.3 Professional Licensure qualified.4 Offered only at Manhattanville College campus. 5 M.B.A. portion registered under individual HEGIS codes depending upon M.B.A. major.

143

Travel Directions to the Stern School of Business*

Lexington Avenue Subway: Local toAstor Place Station. Walk west on Astor Placeto Broadway, then south on Broadway toWaverly Place, and west on Waverly Place toWashington Square.

Broadway Subway: Local to Eighth StreetStation. Walk south on Broadway to WaverlyPlace, then west on Waverly Place toWashington Square.

Sixth or Eighth Avenue Subway: ToWest Fourth Street-Washington SquareStation. Walk east on West Fourth Street orWaverly Place to Washington Square.

Seventh Avenue Subway: Local toChristopher Street-Sheridan Square Station.Walk east on West Fourth Street toWashington Square.

Port Authority Trans-Hudson(PATH): To Ninth Street Station. Walksouth on Avenue of the Americas (SixthAvenue) to Waverly Place, then east toWashington Square.

Fifth Avenue Bus: Buses numbered 2, 3,5, and 18 to Eighth Street and UniversityPlace. Walk south to Washington Square.Bus numbered 1 to Broadway and NinthStreet. Walk south on Broadway to WaverlyPlace and west to Washington Square.

Eighth Street Crosstown Bus: Bus numbered 8 to University Place. Walksouth to Washington Square.

Broadway Bus: Bus numbered 6 toWaverly Place. Walk west to WashingtonSquare.

* See Washington Square Campus map and key for specific addresses.

North

Washington Square Campus

Key to Buildings1 Carlyle Court

25 Union Square West2 Coral Towers

131 Third Avenue3 145 Fourth Avenue 4 University Hall

110 East 14th Street 5 Palladium Residence Hall

140 East 14th Street (under construction)

6 7 East 12th Street7 Casa Italiana Zerilli-Marimò

24 West 12th Street8 Third Avenue North

75 Third Avenue9 Rubin Residence Hall

35 Fifth Avenue10 Bronfman Center

7 East 10th Street11 Brittany Residence Hall

55 East 10th Street12 Lillian Vernon Center for

International Affairs58 West 10th Street

13 Alumni Hall33 Third Avenue

14 Barney Building34 Stuyvesant Street

15 19 University Place16 Cantor Film Center

36 East Eighth StreetFaye’s Café38 East Eighth Street

17 Deutsches Haus42 Washington Mews

18 Glucksman Ireland House1 Washington Mews

19 La Maison Française16 Washington MewsInstitute of French Studies15 Washington Mews

20 Weinstein Center for Student Living5 University Place

21 Undergraduate Admissions22 Washington Square North

22 One-half Fifth Avenue23 1-6 Washington Square North24 Rufus D. Smith Hall

25 Waverly Place25 Seventh Street Residence

40 East Seventh Street26 111, 113A Second Avenue27 Main Block

a Main Building100 Washington Square East/33 Washington Placeb Waverly Building24 Waverly Placec Brown Building29 Washington Place/245 Greene Street

28 Kimball Blocka Kimball Hall246 Greene Streetb Torch Club18 Washington Placec Commuter Commons16 Washington Placed 285 Mercer Streete Mercer Lounge283 Mercer Streetf Student Activities Center244 Greene Street

29 Broadway Blocka 715 Broadway b 719 Broadway c 721 Broadway

d 1 Washington Placee 3 Washington Place f 5 Washington Place

30 University Health Center726 Broadway

31 48 Cooper Square 32 Hayden Residence Hall

33 Washington Square West33 Education Block

a Pless Hall82 Washington Square Eastb Pless Annex82 Washington Square East (26 Washington Place)c 18 Washington Placed East Building239 Greene Streete Education Building35 West Fourth Streetf Violet Café45 West Fourth Streetg Goddard Hall80 Washington Square East

34 Student Services Blocka 25 West Fourth Streetb Student Life Center240 Greene Streetc 242 Greene Streetd Carter Hall10 Washington Placee 8 Washington Place f 14, 14A Washington Place g 269 Mercer Street

35 Meyer Blocka Meyer Hall4 Washington Placeb Psychology Building6 Washington Place

36 Provincetown Playhouse133 MacDougal Street Lawyering Program137 MacDougal Street

37 Vanderbilt Hall40 Washington Square South

38 Judson Blocka Kevorkian Center50 Washington Square Southb Skirball Department53 Washington Square Southc King Juan Carlos I Center53 Washington Square Southd Fuchsberg Hall249 Sullivan Street

39 a Catholic Center at NYU58 Washington Square South(non-University building)b Thompson Center238 Thompson Street

40 Kimmel Center for University Life60 Washington Square South (under construction)

41 Bobst Library70 Washington Square South

42 Schwartz Plaza43 Shimkin Hall

50 West Fourth Street44 Kaufman Management Center

44 West Fourth Street45 Gould Plaza46 Tisch Hall

40 West Fourth Street47 Courant Institute

251 Mercer Street48 D’Agostino Hall

110 West Third Street49 561 La Guardia Place50 Mercer Street Residence

240 Mercer Street

51 Wolf Center547 La Guardia Place

52 Washington Square Village53 530 La Guardia Place54 Off-Campus Housing

4 Washington Square Village55 University Plaza56 Silver Towers

110 Bleecker Street57 Coles Sports and Recreation

Center 181 Mercer Street

Key to Services andActivitiesCOLLEGES AND SCHOOLS 29c Tisch School of the Arts27a College of Arts and Science44, 46 Leonard N. Stern

School of Business 34a School of Continuing and

Professional Studies33a The Steinhardt School of

Education29a Gallatin School of

Individualized Study23 Shirley M. Ehrenkranz

School of Social Work23 Graduate School of Arts and

Science37 School of Law23 Robert F. Wagner Graduate

School of Public Service

INSTITUTES, CENTERS, AND PROGRAMS31 American Language Institute10 Bronfman Center for Jewish

Student Life7 Casa Italiana Zerilli-Marimò 47 Courant Institute of

Mathematical Sciences17 Deutsches Haus33g 80 Washington Square East

Galleries 1st Floor

18 Glucksman Ireland House27a Grey Art Gallery 1st Floor

33d Higher Education OpportunityProgram 8th Floor

19 Institute of French Studies38a Kevorkian Center 38c King Juan Carlos I of Spain

Center 19 La Maison Française38b Skirball Department of Hebrew

and Judaic Studies 23 Urban Research Center (Wagner)12 Lillian Vernon Center for

International Affairs

UNDERGRADUATE ADMISSIONS21 22 Washington Square North51 Wolf Center3 School of Continuing and

Professional Studies, Mc GheeDivision

GRADUATE ADMISSIONS 29c Tisch School of the Arts 8th Floor

22 Graduate School of Arts andScience

44 Stern School of Business 10th Floor

3 School of Continuing and Professional Studies

33a The Steinhardt School ofEducation 2nd Floor

29a Gallatin School 6th Floor

48 School of Law 2nd floor

23 Wagner Graduate School of Public Service Room 11

23 Ehrenkranz School of Social Work Basement

BURSAR34a Student Services Center 1st Floor

CLASSROOM CENTER34a Lower Concourse

DINING20 Director Basement

16 Faye’s Café28b Torch Club33f Violet Café 1st Floor

STUDENT DINING32 Hayden Residence Hall

1st Floor

43 Founders Café 1st Floor

20 Food Court 9 Rubin Residence Hall 1st Floor

8 Third Avenue North4 University Hall20 Kosher Eatery20 Weinstein Center Basement

FINANCIAL AID34a Student Services Center 1st Floor

HOUSING34e Director, University Housing

Office 1st Floor

34f Summer Housing Office 1st Floor

54 Off-Campus Housing Office

UNIVERSITY RESIDENCES13 Alumni Hall 11 Brittany Residence Hall1 Carlyle Court2 Coral Towers48 D’Agostino Residence Hall33g Goddard Hall32 Hayden Residence Hall50 Mercer Street Residence5 Palladium Residence Hall9 Rubin Residence Hall25 Seventh Street Residence8 Third Avenue North 4 University Hall20 Weinstein Center

Broome Street Residence Hall400 Broome Street (not shown)Lafayette Residence Hall80 Lafayette (not shown)Twenty-sixth Street Residence 334 East 26th Street (not shown)Water Street Residence200 Water Street (not shown)

UNIVERSITY APARTMENTS56 Silver Towers52 Washington Square Village

LIBRARIES41 Bobst Library 47 Courant Institute Library

12th Floor

37 Law Library 1st Floor

UNIVERSITY REGISTRAR34a Student Services Center 1st Floor

RELIGIOUS ORGANIZATIONS10 Bronfman Center for Jewish

Student Life 7 East 10th Street

39a Catholic Center at NYU39b Islamic Center39b Protestant Campus Ministries

STUDENT ACTIVITIES AND AFFAIRS28f Fraternity and Sorority Life28a Kimball Commons28f LGBT Office 3rd Floor

29f Operations 29f Program Board29f Program Office 28f Student Activities 1st Floor

34b Student Life Center 2nd Floor

STUDENT SERVICES34b African American, Latino, and

Asian American Student Services3rd Floor

57 Athletics, Intramurals, andRecreation Entrance Level

33c Book Center29b Career Services39b Center for Music Performance57 Coles Sports Center34a Community Service

3rd Floor

21 Counseling and Advisement(admissions)

30 Counseling Service, University4th Floor

34b Disabilities, Moses Center for Students with, 4th Floor

22 Graduate School of Arts andScience Graduate Enrollment andAcademic Services

30 Health Center, University3rd and 4th Floors

43 Information Center 1st Floor

49 International Students andScholars 1st Floor

39b Judicial Affairs34f Lost and Found 34c NYU Computer Store53 NYU Professional Bookstore6 Photo ID Center 1st Floor

34f Protection 1st Floor

28f Student Activities Center8, 33, 34, 46, 47 Student

Computer Terminal Centers:8 Third Ave. North, Level C

33eEducation Bldg., 2nd Floor

34f 14 Washington Pl., Lower Concourse

46 Tisch Hall, Lower Concourse

47 Courant, 2nd Floor Help Center

29f Student Events Center34b Student Life Center29f Student Employment and

Internship Center34a Student Services Center:

Bursar, Financial Aid, and University Registrar

28e Ticket Central34a Veterans Information 1st Floor

MISCELLANEOUS34a Alumni Relations 5th Floor

34g Institutional Facilities and Administrative Services

48 Law Review Offices Subbasement

48 Law Journals Offices Subbasement

51 NYU Mail Services38d School of Law, Clinical and

Advocacy Programs

146

Index

Accounting Research, Vincent C.Ross Institute of . . . . . . . . . . . . . . . . . 90-91Accounting, Taxation, andBusiness Law . . . . . . . . . . . . . . . . . . . 33-36

courses . . . . . . . . . . . . . . . . . . . . . 33-36CPA. . . . . . . . . . . . . . . . . . . . . . . . . . . 33

Accreditation . . . . . . . . . . . . . . . . . . . . . . . 7Actuarial science,specialization in . . . . . . . . . . . . . . . . 79, 83Administration

New York University . . . . . . . . . . . . . . . 7Stern School . . . . . . . . . . . . . . . . 132-33

AdmissionDoctor of Philosophy Program . . . 30-32M.B.A. Program. . . . . . . . . . . . . . . 94-96

Advisers, Department/Area. . . . . . . . . . . . 16Affirmative action policy . . . . . . . . . . . . . . 7African American, Latino, andAsian American Student Services,Office for . . . . . . . . . . . . . . . . . . . . . . . . 126Alumni Outreach,Development and . . . . . . . . . . . . . . . 130-31American Language Institute. . . . . . . 94-95Arrears policy . . . . . . . . . . . . . . . . . 111, 115Asian Business Society . . . . . . . . . . . . . . 127Assistantships . . . . . . . . . . . . . . . . . . . 97, 99Association of Hispanic andBlack Business Students . . . . . . . . . . . . 127Association of InvestmentManagement . . . . . . . . . . . . . . . . . . . . . 128Auditing classes . . . . . . . . . . . . . . . . . . . 108

Berkley Center for Entrepreneurial Studies . . . . . . . . . . . . . . . . . . . . . . . . 91-92Beta Gamma Sigma . . . . . . . . . . . . . . . 119Block scheduling . . . . . . . . . . . . . . . . . . 105Board of Overseers . . . . . . . . . . . . . . . . . . . 4Bobst Library . . . . . . . . . . . . . . . . . . . . . 122Book Centers, NYU, Campus Store. . . . . 126Business Law, see Accounting, Taxation,and Business LawBusiness Writing(noncredit course). . . . . . . . . . . . 11, 12, 68Business Writing forInternational Students(noncredit course). . . . . . . . . . . . 11, 12, 68

Calculus proficiency . . . . . . . . . . . . . . . . 13Calendar . . . . . . . . . . . . . inside front coverCampus Safety. . . . . . . . . . . . . . . . . . . . 124Campus Store/NYU Book Centers . . . . . 126Career Counseling . . . . . . . . . . . . . . . . . 121Career Development andPlacement . . . . . . . . . . . . . . . . 108, 120-21Career Resources Center . . . . . . . . 108, 121Center for Digital Economy Research . . . . . . . . . . . . . . . . . 92Center for EntrepreneurialStudies, Berkley . . . . . . . . . . . . . . . . . 91-92Center for Japan-U.S. Business andEconomic Studies. . . . . . . . . . . . . . . . 89-90Center for Law and Business,New York University. . . . . . . . . . . . . . . . . 93Certificate Programs Registered by the New York State EducationDepartment . . . . . . . . . . . . . . . . . . . . . . 142Chelsea Piers . . . . . . . . . . . . . . . . . . . . . 127Class Hours . . . . . . . . . . . . . . . . . . . . . . 105Code of Conduct, Student . . . . . . . . . . . 116Coles Sports and RecreationCenter . . . . . . . . . . . . . . . . . . . . . . . . 126-27Commencement andPre-Commencement ceremonies . . . . . 117Community Service . . . . . . . . . . . . . . . 129Computing at Stern . . . . . . . . . . . . . 32, 123Core Courses

Required (M.B.A.) . . . . . . . . . . . . . 13-15Substitutions and ProficiencyExaminations. . . . . . . . . . . . . . . . . . 107

CPA Professional Program. . . . . . . . . . . . 33Credit Loads. . . . . . . . . . . . . . . . . . . . . . 106Credits, Maximum in a Major. . . . . . . . 117

Data analysis proficiency. . . . . . . . . . . . . 13Deadlines, Application. . . . . . . . . . . . . . . 95See also CalendarDeferred Tuition Plan . . . . . . . . . . . . . . 110Degree, Certificate, and Joint DegreePrograms Registered by the New YorkState Education Department . . . . . . . . . 142Development and AlumniOutreach . . . . . . . . . . . . . . . . . . . . . 130-31Digital Economy . . . . . . . . . . . . . . . . . . . 84

Digital Economy Research,Center for. . . . . . . . . . . . . . . . . . . . . . . . . 92Dining Services, Campus. . . . . . . . . . . . 124Directory. . . . . . . . . . . . . . inside back coverDisabilities, students with . . . . . . . . . . . 127Discipline. . . . . . . . . . . . . . . . . . . . . . . . 116Dissertation, doctoral. . . . . . . . . . . . . . . . 32Doctor of Philosophy Program . . . . . 30-32Double majors . . . . . . . . . . . . . . . . . . . . 15See also course descriptions foreach academic department

Economics . . . . . . . . . . . . . . . . . . . . . 37-41courses, M.B.A. . . . . . . . . . . . . . . . 37-40doctoral courses . . . . . . . . . . . . . . 40-41proficiency . . . . . . . . . . . . . . . . . . . . . 13

Emerging Markets Association . . . . . . . 128Employer Tuition Plans. . . . . . . . . . . . . 109Employment

Career Development andPlacement . . . . . . . . . . . . . . 108, 120-21

English proficiency . . . . . . . . . . . . . . 94-95Entertainment, Media, and TechnologyProgram (EMT) . . . . . . . . . . . . . . . . . . . 85Entrepreneurial Studies,Center for, Berkley . . . . . . . . . . . . . . . 91-92Entrepreneurs’ Exchange . . . . . . . . . . . 128Entrepreneurship and Innovation . . . 42-46

comajor requirements . . . . . . . . . . . . 43courses . . . . . . . . . . . . . . . . . . . . . 43-46

European Business Society . . . . . . . . . . 128Examinations

comprehensive (doctoral) . . . . . . . . . 32and grades. . . . . . . . . . . . . . . . . . 113-16proficiency . . . . . . . . . . . . . . . . . . . . 107

Executive Programs . . . . . . . . . . . . . . 17-22Corporate . . . . . . . . . . . . . . . . . . . . . . 22Executive M.B.A. . . . . . . . . . . . . . . 18-20Nondegree . . . . . . . . . . . . . . . . . . . . . 22TRIUM Executive . . . . . . . . . . . . . 21-22

Facilities and Services, School andUniversity . . . . . . . . . . . . . . . . . . 122-28

Faculty . . . . . . . . . . . . . . . . . . . . . . . 133-41Family Educational Rights andPrivacy Act (FERPA) . . . . . . . . . . . . . . . 115Federal Student Loans . . . . . . . . . . . . . . 110

147

Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111Fellowships . . . . . . . . . . . . . . . . 97-100, 111Finance . . . . . . . . . . . . . . . . . . . . . . . 47-54

courses . . . . . . . . . . . . . . . . . . . . . 49-54nonmajors . . . . . . . . . . . . . . . . . . . . . 48Ph.D. courses . . . . . . . . . . . . . . . . 53-54

Financial aid . . . . . . . . . . . . . . . . . . 97-101Ph.D. . . . . . . . . . . . . . . . . . . . . . . 31, 97

Financial Engineering, QuantitativeFinance . . . . . . . . . . . . . . . . . . . . . . . 85

Financial Engineering Association . . . . 128Foreign credentials, applicants with . . . . 96French studies, joint M.A.-M.B.A. in . . . . . 9Full-Time Block Program . . . . . . 11, 105-8Full-time status,

change of . . . . . . . . . . . . . . . . . . 96, 107definition of . . . . . . . . . . . . . . . . . . . 107

Glucksman, L., Institute forResearch in Securities Markets . . . . . . . . 89Grade Point Average, Minimum . . . . . . 118Grades . . . . . . . . . . . . . . . . . . . . . . . 113-16Graduate Commission . . . . . . . . . . . . . 141Graduate Finance Association . . . . . . . 128Graduate ManagementAdmission Test (GMAT) . . . . . . . . . . . . . . 94Graduate Marketing Association . . . . . . 128Graduation

application for . . . . . . . . . . . . . . . . . 117date. . . . . . . . . . . . . . . . . . . . . . . . . . 117with distinction . . . . . . . . . . . . . . . . 119and fees . . . . . . . . . . . . . . . . . . . . . . 111prizes . . . . . . . . . . . . . . . . . . . . . . . . 119requirements for . . . . . . . . . . . . . 117-19

Guest Accommodations, NYU . . . . . . . . 124

Health Center, University . . . . . . . . . . . . 125Honor Code . . . . . . . . . . . . . . . . . . . . . . 116Housing, see residence accommodations and off-campus housing officeHuman resource management, seeManagement and OrganizationalBehavior

Immunization. . . . . . . . . . . . . . . . . . . . 104Incomplete grades . . . . . . . . . . . . . . 113-14Industrial relations and manpowermanagement, see Management andOrganizational BehaviorInformation Systems. . . . . . . . 23-24, 55-59

courses . . . . . . . . . . . . . . . . . . . . . 56-59doctoral courses . . . . . . . . . . . . . . 58-59minicourses . . . . . . . . . . . . . . . . . . . . 58

Insurance, health . . . . . . . . . . . . . . . . . 125International Business . . . . . . . . . . . 60-62

comajor . . . . . . . . . . . . . . . . . . . . . . . 60courses . . . . . . . . . . . . . . . . . . . . . 61-62

See also course descriptions for eachacademic departmentInternational Management Program(IMP) . . . . . . . . . . . . . . . . . . . . . . . . . . . 16International Programs . . . . . . . . . . . . . 16

grades . . . . . . . . . . . . . . . . . . . . . . . . 114International students, admission. . . . . . 96International Students andScholars, Office for . . . . . . . . . . . . . . . . 127

Japan Business Association . . . . . . . . . . 128Japan-U.S. Business andEconomic Studies, Center for . . . . . . 89-90J.D.-M.B.A. Program . . . . . . . . . . . . . . . . . 9Joint degree programs . . . . . . . . 9, 96, 105Joint Degree Programs Registeredby the New York State EducationDepartment . . . . . . . . . . . . . . . . . . . . . . 142

Langone Program: A Part-Time M.B.A.for Working Professionals . . . . 12-13, 105-8Late payment of fees . . . . . . . . . . . 110, 111Latin American Business Association . . 128Late registration and late fee . . . . . 110, 111Law and Business . . . . . . . . . . . . . . . . . . 86Law and Business,New York University Center for . . . . . . . . 93Leaves of absence, see Matriculation,continuousLesbian and Gay BusinessAssociation. . . . . . . . . . . . . . . . . . . . . . . 128Library Services . . . . . . . . . . . . . . . . . . . 122Loan programs, student. . . . . . . . . 101, 110

Major and Elective Courses,Doctor of Philosophy Program . . . . . . . . . . . . . . . . . . . 32, 105M.B.A. Program. . . . . . . 15-16, 105, 117

Management and Organizational Behavior/Management Communication. . . . . . 63-68

courses . . . . . . . . . . . . . . . . . . . . . 63-66doctoral courses . . . . . . . . . . . . . . 65-66Management Communication Courses . . . . . . . . . . . . . . . . . . . . . 66-68

Management Consulting Association . . 128Manpower management, see Managementand Organizational BehaviorMap, Washington SquareCampus . . . . . . . . . . . . . . . . . . . . . . 144-45Marketing. . . . . . . . . . . . . . . . . . . . . . 69-73

courses . . . . . . . . . . . . . . . . . . . . . 69-73minicourses . . . . . . . . . . . . . . . . . . . . 72seminars. . . . . . . . . . . . . . . . . . . . . . . 73

Marketing research,specialization in . . . . . . . . . . . . . . . . . . . 79Master’s degree programs

M.A.-M.B.A. Programs . . . . . . 9, 96, 105M.B.A. Program. . . . . . . . . . . . . . . 10-16Full-Time Block . . . . . . . . . . . 11, 105-8Langone (part-time) . . . . . 12-13, 105-8(M.B.A.) Program(s), Executive . . 17-22M.B.A. Program Initiatives . . . . . . 84-87M.S. (in Information Systems). . . . . . . . . . . . . . . 23-24, 55-59M.S. (in Mathematics/Statistics and Operations Research). . . . 25-27, 79M.S. (in Statistics and Operations Research) . . . . . . . 28-29, 79M.S. (Statistics and OperationsResearch)-M.B.A. Program. . . 28, 79, 96

Mathematical methods in operationsresearch, see Statistics andOperations ResearchMathematics for business, see Statisticsand Operations ResearchMatriculation, continuous. . . . . . . . . . . 105Maximum Credits in a Major . . . . . . . . 106Media and EntertainmentAssociation. . . . . . . . . . . . . . . . . . . . . . . 128Minicourses, see under individual department course listings

Net Impact. . . . . . . . . . . . . . . . . . . . . . . 128Net Present Vocals . . . . . . . . . . . . . . . . . 128New York State Fellowships andTuition Assistance Program. . . . . . 100, 111New York University

administration . . . . . . . . . . . . . . . . . . . 7Board of Trustees . . . . . . . . . . . . . . . . . 8deans . . . . . . . . . . . . . . . . . . . . . . . . . . 7introduction to . . . . . . . . . . . . . . . . . 5-7

New York University Center forLaw and Business . . . . . . . . . . . . . . . . . . 93New York UniversitySalomon Center . . . . . . . . . . . . . . . . . 88-89

148

Noncredit courses, see Business Writing,Business Writing for InternationalStudents, and Stern Pre-TermNYU Guest Accommodations . . . . . . . . . 124

Off-Campus Housing Office. . . . . . . . . . 124Office of Career Development. . 108, 120-21Operations Management . . . . . . . . . . 74-77

advanced courses . . . . . . . . . . . . . 75-77core course . . . . . . . . . . . . . . . . . . . . . 75majors and nonmajors . . . . . . . . . . . 75

Operations research, mathematicalmethods in, see Statistics andOperations ResearchOrganizational behavior, see Managementand Organizational BehaviorOverseers, Board of . . . . . . . . . . . . . . . . . . 4

Part-Time M.B.A., LangoneProgram . . . . . . . . . . . . . . . . . 12-13, 105-8Part-time status

change of . . . . . . . . . . . . . . . . . . 96, 107definition of . . . . . . . . . . . . . . . . . . . 107

Patents, University policy on . . . . . . . . . 116Personal computers, proficiencyin the use of. . . . . . . . . . . . . . . . . . . . . . . 13Ph.D. Program . . . . . . . . . . . . . . . . . 30-32Placement,career development and . . . . . . 108, 120-21Prerequisites, Program (M.B.A.) . . . . . . . 13Prizes . . . . . . . . . . . . . . . . . . . . . . . . . . . 119Proficiency examinations . . . . . . . . . . . 107Program Initiatives, M.B.A. . . . . . . . . 84-87Programs, Overview of. . . . . . . . . . . . . . . . 9Progress Requirements, Program . . . . . 104

Quantitative Finance(Financial Engineering) . . . . . . . . . . . . . 85

Readmission, application procedure . . . . 96Real Estate Club . . . . . . . . . . . . . . . . . . 128Real Estate Finance . . . . . . . . . . . . . . 86-87Records, Access to . . . . . . . . . . . . . . . . . 115Records, Transcripts of . . . . . . . . . . . . . 114Recruitment and Job Placement . . . . . . 120Refund of tuition. . . . . . . . . . . . . . . . . . 112Registration and matriculation . . . . . 102-8Required Core Courses (M.B.A.). . . . . 13-15Required notifications . . . . . . . . . . . . . 108

Requirements for graduation. . . . . . . . . . . . . . . 117-19for M.B.A. Program . . . . . . . . . . . . 10-16Progress, Program . . . . . . . . . . . . . . 104Scholastic . . . . . . . . . . . . . . . . . . . . . 104

Research centers and institutes . . . . . 88-93Residence accommodations . . . . . . . . . 124Resident Assistantships . . . . . . . . . . . . . . 99Residency

for doctoral students. . . . . . . . . . . . . . 32minimum requirements . . . . . . . . . 118

Returned Checks . . . . . . . . . . . . . . . . . . 110Ross, Vincent C., Institute ofAccounting Research . . . . . . . . . . . . . 90-91

Sales and Trading Club . . . . . . . . . . . . . 128Salomon Center, New YorkUniversity . . . . . . . . . . . . . . . . . . . . . . 88-89Scholarships and fellowships . . . . . 98-100Scholastic Requirements . . . . . . . . . . . . 104Sequencing, course . . . . . . . . . . . . . . 11-13Services, School andUniversity Facilities and . . . . . . . . . . 122-28SpeechMasters . . . . . . . . . . . . . . . . . . . . 128Sports and Recreation Center,Jerome S. Coles. . . . . . . . . . . . . . . . . 126-27Statistics and OperationsResearch. . . . . . . . . . . . . . . . . . . . . . . 78-83

actuarial science,specialization in . . . . . . . . . . . . . . 79, 83courses . . . . . . . . . . . . . . . . . . . . . 79-83marketing research,specialization in . . . . . . . . . . . . . . . . . 79M.S. (in Mathematics/Statistics andOperations Research) . . . . . . . 25-27, 79M.S. (in Statistics and OperationsResearch) . . . . . . . . . . . . . . . . 28-29, 79M.S. (Statistics and OperationsResearch)-M.B.A. Program. . . 28, 79, 96

Stern Journal . . . . . . . . . . . . . . . . . . . . 128Stern Opportunity . . . . . . . . . . . . . . . . 128Stern Partners . . . . . . . . . . . . . . . . . . . . 128Stern Pre-Term (noncredit course). . . . . . . . . . . . 11, 12, 13Stern Rugby Club . . . . . . . . . . . . . . . . . 128Stern Scholar. . . . . . . . . . . . . . . . . . . . . 113Stern School of Business

administration . . . . . . . . . . . . . . 132-33faculty . . . . . . . . . . . . . . . . . . . . . 133-41introduction . . . . . . . . . . . . . . . . . . . . . 3travel directions to . . . . . . . . . . . . . . 143

Stern Student Corporation. . . . . . . . . . . 127Stern Women in Business . . . . . . . . . . . 128Strategic Operations Club . . . . . . . . . . . 128Strategy and administration, seeManagement and OrganizationalBehaviorStudent Activities Office, M.B.A. . . . . . . . 127Student Code of Conduct . . . . . . . . . . . . 116Student Corporation, Stern . . . . . . . . . . 127Student Groups, M.B.A. . . . . . . . . . . 127-28Student loan programs . . . . . . . . . 101, 110Student records, access to . . . . . . . . . . . 115Student status

change of . . . . . . . . . . . . . . . . . . . 107-8definitions of . . . . . . . . . . . . . . . . . 107-8

Taxation, see Accounting, Taxation,and Business LawTechnology and New Media Group . . . . 128Test of English as a ForeignLanguage (TOEFL) . . . . . . . . . . . . . . 94-95Time limits

for doctoral students. . . . . . . . . . . . . . 32for the M.B.A. . . . . . . . . . . . . . . . . . . 104for the M.S. (in Statistics andOperations Research). . . . . . . . . . . . . 29

Transcripts of records. . . . . . . . . . . . . . . 114Transfer credits . . . . . . . . . . . . . . . . . . . 106Travel directions . . . . . . . . . . . . . . . . . . 143TRIUM Executive M.B.A. . . . . . . . . . . 21-22Trustees, Board of . . . . . . . . . . . . . . . . . . . 8Tuition Assistance Program,New York State (TAP) . . . . . . . . . . 100, 111Tuition and fees . . . . . . . . . . . . . . . . 109-12

arrears policy . . . . . . . . . . . . . . . . . . 111deferred tuition plan . . . . . . . . . . . . 110deposit . . . . . . . . . . . . . . . . . . . . . . . 110refund of. . . . . . . . . . . . . . . . . . . . . . 112tuition remission . . . . . . . . . . . . . . . 109

Veterans benefits . . . . . . . . . . . . . . . . . . 108

Washington SquareCampus map . . . . . . . . . . . . . . . . . . 144-45Wine Cellar Club . . . . . . . . . . . . . . . . . . 128Withdrawal . . . . . . . . . . . . . . . . . . . . . . 108

from Stern . . . . . . . . . . . . . . . . . . . . 108refund of tuition after. . . . . . . . . . . . 112

Women in Business, Stern. . . . . . . . . . . 128Writing proficiency requirement . 11-12, 68

2

Directory of Principal School Offices and Services

Office/Service Building Floor/Room No. Telephone No.Admissions KMC* 10-160 998-0600

Advising (Full-Time M.B.A.) KMC 10-160 998-0585

Alumni Outreach Tisch† 534 998-4040

Bookstore (Professional Schools) 530 La Guardia Place 998-4680

Bursar KMC 10-78 998-0630

Computing and Information Technology Tisch 512 998-0170

Dean, Office of the KMC 11-160 998-0900

Development Tisch 531A 998-4161

Doctoral Program Office Tisch 8-11 998-0740

Executive Development Programs KMC 4-51 998-0270

Executive M.B.A. Programs KMC 10-66 998-0789

Financial Aid KMC 10-160 998-0790

Langone Program Office KMC 1-72 998-0590

Library Bobst Library 6th Floor 998-2600

Office of Career Development KMC 5-100 998-0623

Records and Registration KMC 10-80 998-0660

Student Activities KMC 6-50 998-0930

Student Corporation KMC 6-51 995-4411

* Henry Kaufman Management Center—44 West Fourth Street † Tisch Hall—40 West Fourth Street