Prerequisites

Prerequisites ensure the MBA student has appropriate functional competency in key business foundations critical to academic success in the Program. Prerequisites permit faculty to move ahead with advanced course work having confidence that all students have solid fundamental business knowledge.

Below is a description of the topics that professors expect students to have proficient knowledge of in each Financial Accounting, Microeconomics, and Statistics.

Please note: if you have taken these courses in the past and received a grade of "C" or better you are not required to take our online courses in preparation for the MBA Program. You also have the option of testing out of theses courses at no additional cost. Please see below for additional detail.

Financial Accounting

  • The meaning of accrual accounting
  • The accounting equation of assets = liabilities + equity
  • The format of the balance sheet, income statement, and statement of retained earnings and the interrelationships among these statements
  • The format of the statement of cash flows and how to interpret it
  • How to assess the impact of transactions on a set of financial statements
  • How to compute and interpret financial statement ratios.
  • How to perform horizontal and vertical analysis of financial statements

Micro Economics

  • Prices and Market Equilibrium (aka "Supply and Demand")
  • Price Elasticity: causes and effects
  • Cost Concepts (fixed vs variable, average vs incremental)
  • Profit maximization under perfect and imperfect competition
  • Entry and exit in "the long run"
  • Market structure and implications

Statistics

  • Descriptive Statistics
  • Basic Elements of Probability (expected value, variance, co-variance)
  • Probability Distributions (normal)
  • Parameter Estimation (confidence intervals for one population case)
  • Test of Hypotheses (one population case)
  • Simple Linear Regression and Correlation

How to Meet Prerequisites

Miami courses (ACC 221, ECO 201, and STA 261 or DSC 205) are used as the standard for each of three topics. If you completed these courses (or higher level course/s) at Miami, you meet the requirements. If you have completed a similar course/s at another school, or a non-accredited institution Transfer.Org will be used to evaluate whether your coursework is equivalent to the standard.

If you have not taken these courses in the past you will be required to do one of the following prior to being registered for the MBA core courses:

Option 1: Online Courses

Complete our online courses prior to the start date of your choice. The cost for each course is $60 and you are able to work through the material at your own pace when it is most convenient given your busy schedule! You must receive a “C” or better on the Final Exam in each online course.  Simply follow the link below to learn more and register to begin taking courses: 

Register for Online Prerequisite Courses

Option 2: Standardized Tests

Take the standardized test for each of the prerequisites. Each subject-matter test is a 60-minute multiple choice exam and will be administered at the Voice of America Learning Center in West Chester. Please contact our office at 513-895-8876 to schedule your appointment to take an exam. There is no cost for this test.

Work experience does not allow you to meet the prerequisites if you have not taken all of the three classes listed above. As it is difficult to evaluate your level of subject-matter competency in the absence of a test, you will need to take the subject exams even if your work experience allowed you to develop a good working understanding of these topics.

If you have taken the required courses several years ago and are unsure if you still have a comfortable working competency for each area, it is suggested you take the competency exam/s to identify how much of the material you have retained.

Additional Resources

Please note: Miami University does not assume any responsibility for the content of these resources or for any opinions expressed in them.