Thursday, March 8, 2018

FT ranks NC State Online MBA #17 in the world

More great rankings news for NC State's MBA program.  On Monday the new Financial Times global rankings of online MBAs came out and our program placed #17, up one spot from last year.

FT also ranked programs on specific dimensions.  NC State's online MBA placed #1 in the world in two categories: program delivery and online interaction.

Saturday, February 10, 2018

NC State MBA ranked in top 10 for ROI

NC State’s full-time MBA program has just been ranked in the top 10 in the country for best ROI by SoFi, a financial services company that makes student loans.  

We came in at #8.  The top school for ROI was Wisconsin.  The other schools include Brigham Young, Florida, Harvard, Houston, Loyola, Pitt, Stanford, and Villanova.  SoFi calculates ROI as the ratio of average starting salary to average debt.  The data come from 60,000 student load financing applications over three years (2015-2017).  

The ranking is already getting play in the leading MBA blog Poets and Quants run by John Byrne who launched the Business Week rankings years ago.  

We have been saying for years that our MBA program is a great value, so it is rewarding to see some outside confirmation.  Kudos to the faculty and staff who have been so dedicated to the career success of our students and alumni!

Sunday, January 21, 2018

NC State MBA faculty research on diversity and innovation

Poole College of Management faculty members Roger Mayer and Richard Warr have published a study in the journal Financial Management that shows that companies can profit from diversity.  Mayer and Warr found that companies with a more diverse workforce (in terms of gender, ethnicity and sexual orientation) produce more new products and obtain more patents.  Warr was interviewed recently on WUNC-FM radio about the study.

Monday, January 15, 2018

NC State online MBA rises in US News rankings

NC State's online MBA rose 4 spots to #14 in the US in the latest US News and World Report rankings.  The program ranked very strongly in terms of student engagement and admissions selectivity.  The program has been in the top 20 every time US News has ranked online MBAs.  Our growing enrollment provides further evidence that NC State offers a great online MBA and a fantastic value.

Sunday, December 17, 2017

Anatomy of a tariff

Great WP column by George Will today discussing the likely tariff the US will be imposing on washers and dryers.  This is a classic case where the largest domestic producer Whirlpool has bought out its biggest domestic rival (Maytag) but now claims it needs to be protected from Samsung and LG who have produced more innovative machines at lower prices.  Money quote: Whirlpool is "more adept at manipulating Washington than it is at making washing machines."

Thursday, December 7, 2017

College degrees needed? Watch what employers do, not what they say

Do you need a college degree to get ahead today?  Two recent headlines caught my eye.  In each case an enterprising reporter or academic does a survey of employers.

Exhibit A: WSJ reports the results of a US Labor Department survey which finds that less than 20% of all jobs require a college degree.  So maybe college is a waste of time??

Exhibit B: Harvard B-school prof Joseph Fuller finds in his survey that employers are requiring college degrees not so much because the current job requires college level skills but because college grads are more adaptable and do not require training.

A college degree continues to be one of the best investments that young people can make, leading to a lifetime learning differential 55-65% above those who stop their schooling at high school.  Are employers so stupid that they would pay that much more for nothing?  Beware the cable channel talking heads proclaiming that college is a waste of time and money.

Friday, December 1, 2017

Great ratings news for NC State's MBA

NC State's Jenkins MBA received more great rankings news from Bloomberg Businessweek and the QS Global MBA rankings.  Bloomberg ranked the full-time program #36 among public universities and #70 overall.  The program ranked #28 overall in the super-critical job placement dimension with 92% placement in 2016 within three months of graduation.  NC State's MBA also did well on the employer survey, placing #54 overall.

NC State's full-time MBA placed in the #111-120 category in the QS Global MBA rankings.  The program placed #58 in the world on the employability dimension, which reflects employer feedback and placement statistics.  Focusing solely on US schools, NC State's MBA came in at #53 overall, #30 on employability and #46 on thought leadership.

Rankings for the part-time and online programs will appear in the spring.

Monday, September 11, 2017

Is net neutrality getting neutered by new technologies?

American Enterprise Institute blogger Mark Jamison has some insights I have not seen elsewhere regarding how new technologies are likely to make existing regulations on net neutrality meaningless.  Examples of how technology is making a difference:
1) 5G networks will be based on network slicing, which means the network will be customized to different types of traffic.
2) Netflix is investing in proprietary networks and is becoming less dependent on public ones.  Other large gobblers of bandwidth are doing the same.
3) Mobile apps are being used more.  Apps are not open but they are targeted to user needs.

A larger lesson -- in markets where technology is changing quickly, regulations have difficulty keeping up.  If they are enforced too strictly, they can actually interfere with progress.

Friday, September 1, 2017

Storm economics

Harvey has finally made his exit from Houston and the Gulf Coast.  In his wake, a number of economic questions come up.  There always is the issue of price gouging after a natural disaster.  Although the practice raises ethical challenges, it also is a natural consequence of a price system that beats the heck out of what Venezuela uses to allocate resources.

Tyler Cowan has a Bloomberg column on economic issues related to storms that is worth a quick read.  A few key takeaways:

  • Storms hurt economic growth because they force us to allocate resources away from other goods and toward rebuilding.  They also fracture lives and incomes.  
  • Economic research shows that we are resilient; most who lose their jobs and homes do recover.  
  • The standard economic approach to federal flood insurance is problematic.  Under the current system, we subsidize risky housing investments near oceans and in flood plains.  Bailouts to those without insurance reduce the odds that people will insure in the future.  
Even if you really believe that consumers are always rational and well informed, no one could have possibly seen 50 inches of rain in a few days as a possibility.  So what do you do with those who lack flood insurance?  Getting the federal government out of the flood insurance business is a question worthy of serious debate.  But for now Ted Cruz is going to be very supportive of a federal bailout.

Monday, August 21, 2017

Supply-side ideas for health care access

This is the 1st week of classes at NC State.  My online MBA class Essential Economics for Managers is studying supply and demand.  A good place to practice this subject is health care.  Most people pay for health services indirectly through employer- or government-provided health insurance.  Health care spending is much greater in the US relative to other countries with a comparable living standard and many blame these payment mechanisms.

Many efforts to bring health spending down focus on the demand side, either through changing the availability of insurance or through managing insurance-backed spending through eligibility rules, co-pays and deductibles.  As Mitch McConnell learned recently, kicking people off of health insurance plans is not a good way to win votes.

Todd Buchholz who worked under President Bush #41 argues in a recent WP op-ed that supply solutions to health care costs are not getting sufficient attention.  He makes four suggestions:
1) Build more medical schools to increase the supply of doctors (increasing enrollment at existing schools would yield the same result)
2) Allow nurse practitioners and physician assistants to open and manage walk-in clinics (some states allow this but most do not)
3) Recognize drug approvals from other advanced countries so that new drugs can enter the market more quickly and cheaply
4) Legal reforms to reduce unnecessary tests and procedures

Some of these issues are more complex than Buchholz allows.  Also he misses other supply-side reforms such as encouraging more immigrant doctors to practice here.  The overarching idea, however, is that by increasing competition and lowering unit costs, health care spending could start going down.