Students with a bachelor's degree in engineering who want to develop their technical and product development skills in addition to their business acumen can pursue a Master of Business Administration (MBA) and a Master in Industrial Engineering (MIE). This dual degree program can better equip students to enter the workforce with training in areas such as leadership, management, and data analysis.
Coursework for an MBA and Master of Industrial Engineering Program
Many colleges and universities offer graduate programs that allow students to earn a master's degree in industrial engineering along with their MBA. The length of programs varies by institution; however, students can expect to complete at least 50 course credits as part of such a program. The courses covered below are ones that students may take as part of a dual master's program. Depending on the college or university selected, students can take classes on-campus, on-line, or a mixture of both.
Financial Accounting and Reporting Courses
Students learn basic accounting principles in order to comprehend a business's financial statements. Topics of study can include how investments, credits, and expenses are tracked in financial statements. By learning how accountants prepare statements, students will be able to analyze documents like balance sheets, expense reports, and income statements.
Operations Management Courses
Operations management courses provide students with a perspective of the inner workings of a business. Topics of study can include resolving scheduling issues, managing materials, maintaining quality control, and designing work processes. Students may also focus on learning how to properly design and implement a supply chain management process for both production and service environments.
Web Applications Courses
One facet of industrial engineering could involve working with web-based applications. Courses in this area could focus on creating and executing web applications that compile and analyze data, whether for the purposes of engineering or market research. Students might also explore the issues involved in ensuring the information security, network infrastructure and database systems required for e-commerce.
Project Management Courses
Another facet of industrial engineering is project management. A project management course covers such topics as time management, budgeting, and network flow techniques like CPM. Students may also learn concepts like tradeoff analysis.
Linear Programming Courses
In this type of course, students learn how linear programming models can be used to solve engineering, transportation, and resource allocation problems. Topics of study include simplex, revised simplex, and interior point methods. Students might also examine theory related to problem solving with linear models, sensitivity analysis, and Lagrange multipliers, among other topics.
Strategic Management Courses
MBA students take courses in strategic management to learn how to cultivate strategic partnerships for both domestic and international operations. Some programs offer courses that focus on a particular concern of strategic management, such as competitive analysis and marketing strategy. Coursework might involve case studies and simulations where students put their decision-making skills into practice.
MBA Program Admission Requirements
Students will need to earn their bachelor's degree before applying to either the MBA or MIE program. It should be noted that students may have to complete separate applications to each one. For entry to the engineering program, relevant degree fields include an engineering discipline, applied mathematics, or computer science. Students may need to have a minimum undergraduate grade point average, usually above a 3.0. Schools can also set minimum score requirements for exams like the GMAT and GRE. The application process to an MBA program consists of an application or essay questions and may require students to submit their undergraduate college transcripts and letters of recommendation. In addition, some schools may require students to have relevant work experience.
Students pursuing a dual master's degree program in business and industrial engineering learn both technical and business skills as part of their curriculum. These programs are available in a variety of formats and can require applicants to apply separately to each degree program.
