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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


  • 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 complete online courses prior to being registered for the MBA core courses:

The cost for each course is $75 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. 

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