UMD News: March 24, 2000

Communication Associate: Public Relations | Lori Melton | lmelton@d.umn.edu | (218) 726-8830

March 24, 2000
Susan Beasy Latto, Director of Public Relations 218 726-8830
Kjell Knudsen, Dean, School of Business & Economics 218 726-7288 or 726-7281

UMD School of Business & Economics Earns International Accreditation

The UMD School of Business & Economics has earned accreditation by the AACSB -the International Association for Management Education, it was announced today by Dr. Kjell Knudsen, Dean of the School. "This is a very important achievement for the School," Knudsen said. "It is the result of five years of intense work by faculty and staff, and is a credit to the very high quality and standards of education and research of the UMD School of Business & Economics.

Out of approximately 1,200 institutions in the United States offering graduate and undergraduate business degree programs (according to the U.S. Department of Education statistics), only 366 have achieved AACSB accreditation. Seventeen institutions outside the United States hold AACSB accreditation.

To achieve accreditation, business programs must satisfy a wide range of quality standards relating to curriculum, faculty resources, admissions, degree requirements, library and computer facilities, financial resources, and intellectual contributions. The review is linked to each school's stated mission and objectives. During the accreditation process, UMD was visited and evaluated by business school deans with detailed knowledge of management education.

The UMD School of Business & Economics consists of four academic departments: Accounting, Economics, Finance & Management Information Sciences, and Management Studies (which includes Marketing and Human Resource Management). The School offers the following degrees: Bachelor of Accounting, Bachelor of Business Administration, and Master of Business Administration (MBA). The School's regional outreach activities are handled through: the UMD Bureau of Business & Economic Research, the UMD Center for Economic Education, and the UMD Center for Economic Development (located in the Duluth Technology Village in Downtown Duluth). Enrollment includes 1360 undergraduate students and 60 active graduate students. There are 34 regular faculty positions.

The AACSB is a not-for-profit organization consisting of more than 800 educational organizations and corporations. Its mission is excellence in management education in colleges and universities. Founded in 1916, it is the leading accrediting agency and service organization for business schools.

Additional information about the UMD School of Business & Economics can be found on the website at http://sbe.d.umn.edu/

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