CURRICULUM

The Rotman MBA has a key advantage that no other school can match: Integrative Thinking. We provide you with a solid grounding in all the business fundamentals —
Marketing, Strategy, Finance, Accounting, Economics, Operations and Organizational Behaviour — but we also teach you to go beyond these traditional ‘silos’ to see how they interrelate to form the big picture. Our groundbreaking approach teaches you how to build
new models that can shape your business — and the world — for the better.

Success in today’s business environment requires flexibility, creativity, and an ability to turn challenges into opportunities. “If there’s one thing you learn at Rotman, it’s that no one idea is perfect,” says Omar Shaheen ’09, who was hired as a strategy consultant
by Bain and Company upon graduation. “Integrative thinking teaches you to break down contrasting ideas into their component parts to come up with a superior solution that leverages the best parts of each.”

Pre-Program

The MBA Pre-Program is a comprehensive on-campus program of optional, non-credit, preparatory academic and professional development activities that are designed to meet your needs as a new MBA student. In addition to these skill development workshops, there are resources and administration sessions and also a number of fun, social activities that will allow you to meet your classmates and become involved in the Rotman community.

Orientation

The MBA Orientation is a mandatory multi-day program that has been designed to launch your entire Rotman MBA experience. This interactive program will focus on a few key themes that will set the foundation for your academic and professional experience at Rotman, and get you thinking about your role in your own success.

View photos from Orientation 2010.

The First Year: The Start of Something Big

The first year’s core curriculum offers a solid foundation for a lifetime of learning. Beginning in early September, the first year is divided into four quarters, or ‘mini-semesters’, lasting seven weeks each. Working in a small project team of four or five students, you will be exposed to a new way of thinking about management and business and develop your knowledge, your critical faculties and your practical skills.

2nd Quarter (November - December)
Financial Accounting II
Finance I: Capital Markets and Valuation
Managing Customer Value I
Statistics II
Strategy I

3rd Quarter (January - February)
Negotiations (one-week intensive)
Leadership
Finance II: Corporate Finance
Managing Customer Value II
Macroeconomics
Strategy II

4th Quarter (March - April)
Business Problem Solving Practicum
Ethics
Global Managerial Perspectives
Managerial Accounting
Operations Management

Note: courses are subject to change over time as the School’s innovative curriculum evolves.

This is your opportunity to specialize by choosing a major, or to enhance your generalist perspective by taking courses from different academic disciplines. While renowned for our strength in Finance, the Rotman School has a wide choice of MBA majors (see below), each with a set of recommended courses to help guide you towards a particular career path.

In order to complete the Full-Time MBA Program, in second year you must complete ten elective courses over three academic terms: fall, winter intensive and spring. The following overview outlines the second year of the program:

Fall Term (September - December)
Five elective courses
Continue or complete the requirements for all joint programs
International exchange opportunity

Winter Intensive and Spring Terms (January - April)
Five elective courses
Continue or complete the requirements for all joint programs
International exchange and study tour opportunity

Convocation (June)
Get set for a great future!

Electives

Electives are chosen from the following areas (click on each for a full listing):

Accounting
Business Economics
Finance
Organizational Behaviour & HR Management
Marketing
Operations Management, Management Science and Statistics
Strategic Management

The following are identified as Integrative Thinking electives:

The Opposable Mind (RSM2922)
Professor: Roger Martin
Instructors: Suzanne Spragge, Jennifer Riel
Day-to-day in your career, and in the rest of your life for that matter, you will be faced with a series of choices, big and small. Of course, some of the choices are simple and straightforward. Most require some degree of careful thought and deliberation. And then there are those few game-changing decisions. These are the choices we make when faced with certain kinds of problems - the kind of problems that seem to change as we attempt to solve them, the kinds of problems that seem to have no good answer, no answer that doesn't entail a series of unattractive negative consequences. The goal of this course is to provide you with a toolkit that helps you tackle these wicked problems. Integrative thinking asks you to refuse to accept the choice but instead to dig deeper into the complexity of the problem, to recognize and use the tension of the opposing answers to create a new solution – a resolution of the tension between the two options. This new answer takes aspects of each but integrates them to create something better than either is alone.

Design Practicum: Business Innovation Lab (RSM 2524)
Professor: Heather Fraser
This half-year course revolves around the three pillars of design thinking – deep consumer understanding, rapid prototyping of concepts that address a consumer need, and business design that make the concept viable in a strategically sustainable way. Students, paired with Ontario College of Art and Design graduate students of Industrial Design, are partnered with clients in order to develop solutions to large-scale, actual innovation challenges they face. As they go through the process, they apply the principles of design and in the process, ‘learn-by-design-doing’.

Innovation, Foresight and Business Design (RSM 2915)
Instructor: Alexander Manu
This course aims to prepare the MBA candidate for the ambiguous challenge of creating and supporting a real culture of innovation within the framework of an organization. In content, manner and style, this course has been designed to focus on developing the candidate’s ability to inspire discovery and learning within teams as well as increasing the value of their own creativity. Students will work with “pre-design” methods that will help them to identify and validate ideas and transform these results into pre-competitive products, services and systems. Finally, this course will explore how these insights inform strategic decision-making and ultimately create wiser policy options, by realigning the desires of people with the potential of new technology and the capabilities of organizations.


Leadership From the Inside Out: Building Relationship Skills That Work
(RSM 2916)
Instructor: Melanie Carr
The main objective of this course is to provide participants with the opportunity to develop and practice models of empathy through an understanding of interpersonal communication, models of conflict resolution, and the development of a reflective stance. This course is predicated on the notion that increased interpersonal and self understanding is key to the design of an ongoing learning strategy and therefore to a successful business career.

Getting IT Done (RSM 2913)
Instructors: Brendan Calder, John O'Dwyer
This is a course about Getting It Done^TM -- ‘It’ being strategy, operating results, annual objectives, culture change, key projects, initiatives, targets, restructuring and employee involvement and commitment. The course teaches proven methodologies and tools that have been continuously improved over 30 years based on the work of Peter Drucker, Bill Reddin and Mike Kami. The course is built around four integrative frameworks: Strategic Planning, Strategic Deployment, Performance Management, and Continuous Improvement. Visit the Getting It Done Web site.

Business Problem Solving: An Integrative Approach (RSM 2000)
Professor: Mihnea Moldoveanu
The course is intended to give participants a first-hand learning experience in real business problem solving in an integrative framework. In doing so, it builds explicitly on the experiences and lessons of the first-year Integrative Thinking Practicum.
Click here for the syllabus.

Learning How to Learn (RSM 2910)
Professor: Mihnea Moldoveanu
This course builds on the experience and insights of the First Year Integrative Thinking Lab and aims to develop and refine a nexus of adaptive emotional, behavioral and cognitive skills that underlie successful managerial thought and action. This cognitive, emotional and behavioral repertoire is cultivated through interactive classroom exercises, case studies developed by participants individually and in groups, and short presentations from faculty members.

The following are considered 'General' electives:

Many students find it helpful to select courses from a subset of courses offered in a given functional area to enhance their skills and present potential employers with specific functional expertise (e.g. Marketing), while others are interested in developing skills from a set of courses that are traditionally associated with a specific career path (e.g. Investment Banking). All students are able to choose courses from either the core and/or recommended set of courses for a particular major, or from any functional area. There are no quotas associated with either functional specialization or majors and therefore, access to all courses is dependent upon the bidding process and space availability (note: most elective courses have a maximum enrolment of 40 students per section. Courses with less than 15 students may be cancelled due to low enrolment).

Note that neither the U of T transcript nor the actual MBA degree makes reference to a given functional specialization or major. Students are encouraged to select from the menu of courses available to enhance skills and expertise, and use the resume and/or transcript of courses taken to provide potential employers with an indication of suitability for a given employment opportunity. Majors or Double Majors are possible given that up to 4 courses in each functional area or major define a level of specialization. This will allow students maximum flexibility in terms of learning and positioning for future career opportunities.
In order to assist students in selecting appropriate courses for the second year of the program, the guidelines for the Majors have been developed by the faculty.

Majors

• Brand Management (Offered by the Marketing Area)
• Consulting (Offered by the Strategy Area)
• Funds Management (Offered by the Finance Area)
• Global Management (Offered by the Business Economics Area)
• Health Sector Management (Offered by the Strategy Area)
• Leadership and Change Management (Offered by the Organizational Behaviour/Human Resource Management Area)
• Innovation and Entrepreneurship (Offered by the Business Economics and Strategy Areas)
• Investment Banking (Offered by the Finance Area)
• Risk Management and Financial Engineering (Offered by the Finance Area)

BRAND MANAGEMENT

Major Coordinator: Andrew Mitchell (416.978.4915 –mitchell@rotman.utoronto.ca)

Topics Covered
The key to effective marketing is understanding customers and delivering what they want, when they want it, at a price they want to pay. This requires you to analyze both hard numbers and less structured qualitative information, to have insight into the reasons behind customer behaviour, and to develop strategy based on this analysis and insight. 
Specific topics include analyzing customers and understanding why they buy, gathering and analyzing customer and market data and developing successful programs for communications and distribution.  In the process you will develop an understanding of how customers make decisions and how to influence them, how to analyze markets and the strategies of competitors, how to develop successful advertising and promotional strategies, and how to successfully develop and manage a brand.

Career Paths for Brand Management Major
This major develops the skills required to be an effective marketer in a wide range of businesses, including consumer markets, business to business, financial services, technology, healthcare and the not-for-profit sector.

Requirements to Complete the Major
You must successfully complete 4 of the following core courses:

Core Courses

It is also recommended that students in this major choose other courses from the following selection:

Consulting major
Coordinator: Professor Sarah Kaplan, sarah.kaplan@rotman.utoronto.ca

Description
You will learn how to analyze cross-functional business problems and to justify your recommendations, applying appropriate frameworks and a diverse set of quantitative and qualitative tools.

Topics covered
Specific topics covered are the consulting industry, problem solving methodologies, the management of change in organizations, advanced issues in strategic management, and the development and presentation of proposals and reports.

Career paths for consulting major
The topics covered in this major are critical for entry into the consulting profession whether with a large, medium, or small firm or as a sole proprietor.  The skills will apply in both the for-profit and non-profit sectors. In addition, the topics covered will be useful for managers who will work with or manage outside consultants.

Requirements
For students graduating in 2012 in the full-time program or 2013 in the part-time programs, they may select any 3 of the courses listed below, though ideally they would follow the guidelines for selecting courses by category.
For students graduating after 2012 in the full-time program or 2013 in the part-time programs, they should select at least one course from each of the categories for a minimum of 4 courses. Students planning for a job in management consulting will likely want to take more than one class from sections (c) and (d) below.

(a) One consulting or problem solving practicum:

 (b) One course on organizational change:

(c) One or more of these courses on company analysis:

 (d) One or more of these advanced strategy or operations courses:

Major Coordinator: Alan White (416.978.3689 – awhite@rotman.utoronto.ca)

Topics Covered
RSM2302 covers two major themes. The first theme is the analysis of (primarily) equity investments with the objective of determining (a) which are attractive investments, and (b) what the characteristics of the investment are. This leads into the second theme, which is how the investments should be combined into portfolios and how the portfolios should be managed. RSM 2302 extends this to the analysis of bonds and other fixed income securities. RSM 2311, Applied Portfolio Management allows the students to go through the actual process of running an investment fund. This will cover the full range of activities from assessing the client's needs, designing a strategy to meet those needs, selling the idea to the client, and ultimately implementing the investment strategy.

Career Paths for Funds Management Major
The funds management major is designed to prepare students for careers in the funds management industry. The major players in this industry are pension funds, insurance companies, and mutual funds. In each case the investment decisions are shaped by the objectives of the firm or industry. Our objective is to teach the students to both understand the mechanics of how investing is done and to understand the relation between the investment strategy and the underlying needs of the industry. Students interested in a career in the investment industry will find the following courses helpful.

Requirements to Complete the Major
You must successfully complete 3 of the following core courses:

Core Courses

It is also recommended that students in this major choose other courses from the following selection:

Major Coordinator: Ig Horstmann (416.978.1888 – ihorstmann@rotman.utoronto.ca)

Topics Covered
While international markets offer valuable opportunities for business expansion and growth, they also come with a unique set of challenges. To compete globally, businesses must be able both to take advantage of the opportunities that the global market place provides and to deal effectively with the challenges it offers. The Global Management major is specially designed to provide managers and entrepreneurs with the knowledge and skills to take on the challenges of the international market place and to compete effectively in a global economy.

At the core of the major are courses in international business management and economics. These courses focus on the development of effective business strategies for entering and competing in international markets and for effective management in diverse cultural and political settings. Additional courses focus on specific challenges for marketing and finance that international business operations create.

Career Paths for Global Management Major
This major is relevant for those students who expect to be managing in or operating companies that have a significant international business presence. This presence may range from only selling in foreign markets to having actual foreign operations or joint business ventures.

Requirements to Complete the Major
You must successfully complete 3 of the following core courses:

It is also recommended that students in this major choose other courses from the following selection:

Major Coordinator: Brian Golden (416.946.8519 – brian.golden@rotman.utoronto.ca)

Topics Covered
Health care, (1) represents a huge and growing sector in all industrialized economies; (2) is representative of the service and knowledge-oriented focus of the 21st century economy, and; (3) has significant management challenges that have not been adequately addressed. With this in mind, the Health Care Management major will focus on management in health care delivery systems, pharmaceutical and biotechnology sales and marketing, life sciences product commercialization, and related consulting and financial industries. The major will also introduce students to various regulatory bodies and procedures in the health sector.

Career Paths for Health Care Management Major
This major is relevant for those students who expect to be managing in or operating for-profit or not-for-profit organizations in the health care sector. This may include positions in hospital administration, government, medical devices, bio-pharma, insurance, new ventures, and venture capital and finance.

Requirements to Complete the Major
You must successfully complete 3 of the following core courses:

Core Courses

It is also recommended that students in this major choose other courses from the following selection:

Recommended courses offered by other University of Toronto Faculties:

*Experimental Course
+Credit to be approved by Major Coordinator; course projects must be in the Health Sector
++Part of UofT Mississauga Masters in Biotechnology Program

Major Coordinator: Tiziana Casciaro (416.946.3146 – tiziana.casciaro@rotman.utoronto.ca)

Topics Covered
Your career trajectory will involve numerous leadership positions, in which you must use every resource at your disposal to position the organization at a competitive advantage. This major will focus on the development of an important skill set, leadership. Leadership involves a myriad of skills, including how to monitor and effect organizational change, increase individual and organizational performance, resolve conflict, negotiate with stakeholders, and influence. As a result, in this major you will learn the fundamentals on how to initiate and implement change, increase productivity, facilitate team effectiveness, negotiate effectively, and influence others. In essence, you will learn behavioural skills and systems that are designed to facilitate leadership and change management within the organization.

Career Paths for Funds Management Major
A typical career path for many graduates is to assume leadership roles in their respective organizational areas of expertise or as consultants.  Your individual leadership style will emerge over time. Nevertheless, developing a skill set during your MBA will prepare you to assume these leadership roles early on, as the transition to being a leader does not take place overnight. Whether you are interested in entering consulting, entrepreneurial ventures, or organizational functions such as quality management, finance, accounting, operations, strategic management, or human resource management, leadership and your ability to bring about change will play an important role in your careers.

Requirements to Complete the Major
You must successfully complete 4 of the following core courses:

Core Courses
RSM 2023         Strategic Change & Implementation
RSM 2601         Organization Design
RSM 2603         Advanced Negotiations & Conflict Management 
RSM 2609         Management of Human Resources
RSM 2612         Managing Talent for Global Operations
RSM 2616         Effective Leadership*
RSM 2619         Power & Influence in Organizations
RSM 2620         Leading Teams

*Experimental Course

INNOVATION AND ENTREPRENEURSHIP

Major Coordinator: Brian Silverman (416.946.7811 – silverman@rotman.utoronto.ca)

Innovation is pervasive in today’s economy. The most successful managers understand innovation: how to recognize, manage and create value for sustained competitive advantage. 
This major will be useful to students interested in launching their own entrepreneurial venture, managing a technology-driven business or consulting to innovative firms. Those interested in investing in or financing innovative start-ups will profit from this major. In addition, students interested in public policy concerning economic growth and technological change will also benefit from this major.

Topics Covered
In this major, you will learn about creating economic value through starting a company or innovating in an existing organization. The emphasis is on recognizing and creating value from new ideas and bringing new products to market. 
Specific topics covered are: the nature of innovation and entrepreneurial activity, the characteristics of successful entrepreneurs, how to create and protect intellectual property, how to develop and evaluate business plans, and how to create new business models and secure financing for new ideas. Courses are drawn from Business Economics, Finance, Strategy, Organizational Behaviour and Marketing to reflect the integrative nature of innovation and entrepreneurship.

Requirements to Complete the Major
You must successfully complete 3 of the following core courses:

Core Courses

*Experimental Course

Major Coordinator: Laurence Booth (416.978.6311 – booth@rotman.utoronto.ca)

Topics Covered
In this major, you will learn how to evaluate investment proposals, financial strategies and instruments, and the rationale and execution of mergers, acquisitions and divestitures. Specific topics cover how to make capital structure, dividend policy and debt structuring decisions, how to evaluate capital budgeting proposals for the internal acquisition of assets and how to buy other people's assets or sell off assets no long needed by the firm (M&A). In the process you will learn the key legal constraints on corporate activity and deepen your understanding of financial statements.

Career Paths for Investment Banking Major
The topics covered in the major are critical functions needed for managers in non-financial corporations and lead to careers in corporate treasury and the Controllers' department, where the topics are treated as "corporate finance." An understanding of these topics is also needed by investment bankers, when advising their clients on financing and M&A activities. In this case the topics are generically called "Investment Banking." Increasingly, consulting firms that emphasize value based management and shareholder value creation need a thorough grounding in these topics.

Requirements to Complete the Major
You must successfully complete 3 of the following core courses:

Core Courses

It is also recommended that students in this major choose other courses from the following selection:

RISK MANAGEMENT AND FINANCIAL ENGINEERING

Major Coordinator:  John Hull (416.978.8615 – hull@rotman.utoronto.ca)

Topics Covered
In this major you will learn about derivatives markets and how instruments such as futures and options can be used for risk management. You will learn about risk management from a) the perspective of a corporate treasurer who is interested in hedging his or her exposure to interest rates, exchange rates, commodity prices etc, b) the perspective of a fund manager who wants to change the nature of his or her exposure to financial markets, and c) the perspective of a financial institution that trades derivatives and is faced with an increasingly complex regulatory environment. You will also learn how to price a wide range of derivatives instruments. While the major will not convert you into a "rocket scientist" it will provide you with the tools to successfully manage rocket scientists and understand their ideas and conjectures.

Career Paths for Risk Management and Financial Engineering Major
Many banks have recruited large numbers of "quants" in recent years but have not developed the managerial infrastructure to use those quants effectively. The risk management and financial engineering major will equip you well to be part of that managerial infrastructure. It will also give you the tools necessary to join groups concerned with structuring complex products that meet the needs of particular clients. Some past MBAs are now involved in the sales and trading of specific derivatives products. Regulators are requiring banks to use increasingly complex models to evaluate market risk, credit risk and operational risk. The risk management and financial engineering major will enable you to understand these models and play a key role in the development of a bank's strategy for minimizing its regulatory capital requirements. More generally, it is true that derivatives markets (particularly the over-the-counter derivatives markets) are becoming increasingly important to everyone who works in finance. Even if you do not plan to work in a risk management/derivatives function you will find the material you learn from this major useful.

Requirements to Complete the Major
You must successfully complete 3 of the following core courses:

Core Courses

It is also recommended that students in this major choose other courses from the following selection: