Stuart School of Business

IIT Stuart School of Business
Established	1969 By Harold L. Stuart
Type	Private
Dean	Harvey Kahalas, Ph.D.
Academic staff	Student/Faculty ratio: 20:1
Students	783
Location	Chicago, Illinois, USA
Website	www.stuart.iit.edu

IIT Stuart School of Business (often just Stuart) is an academic unit of the Illinois Institute of Technology, a private Ph.D.-granting technological university. IIT Stuart’s mission is to teach a range of business programs that incorporate a real-world perspective, analytic/quantitative skills, the relationship between business and technology, and the multidisciplinary components of strategic competitiveness to full-time and in-career globally diverse students and to conduct theoretical and applied research in business and management-related disciplines.

IIT Stuart programs are centered on the concept of strategic competitiveness, a unique perspective that builds upon the emerging emphasis of design in business education and expands that focus to complex issues facing organizations today. Specifically, strategic competitiveness provides a business education with a dynamic formula of creativity, entrepreneurship, innovation, leadership, incisive decision-making, and sustainability, designed to help students succeed both in today’s competitive global marketplace and in the complex economy of tomorrow.

IIT Stuart offers bachelor's, master's, doctoral, and non-degree programs, as well as graduate certificate programs. In addition to the MBA, Stuart offers interdisciplinary programs such as Mathematical Finance, Marketing Communication, Public Administration, and Environmental Management and Sustainability in conjunction with departments such as the IIT Institute of Design and the Center for Sustainable Enterprise. The Center for Financial Markets provides focused curriculum in financial engineering and programming, trading strategy, the financial markets, and information technology. IIT's Master of Science in Finance is focused on quantitative techniques used in modern financial markets and is concentrated in risk management, corporate finance, and quantitative finance.

The first quantitative finance masters program was started by Illinois Institute of Technology's Stuart School of Business in 1990. It was the first official program that developed students with a quantitative curriculum to be placed in positions of quantitative analysts and risk management positions. The program was meant to place students within the financial markets. It was the first financial engineering,computational finance, mathematical finance type of program. Dr. Michael Ong had structured the quantitative part of this program and it was called Masters of Science in Quantitative Finance and Masters of Science in Financial Markets and Trading. The programs were combined in together 2008 and is now called Masters of Science in Finance with Financial Engineering Concentration. RISK magazine acknowledged it as the first of its kind. Carnegie Mellon was second with the Masters of Computational Finance program in 1994.

The graduate programs in Public Administration encompasses the disciplines of political science and sociology, with special emphases in the fields of urban government and community affairs, policy analysis, organization and management of work, public finance, public safety, and nonprofit management. IIT has offered educational programs in public administration since the 1940s and has awarded the Master of Public Administration (M.P.A.) degree, the most widely recognized professional credential, since the mid-1960s.

Stuart is located in downtown Chicago, Illinois, USA within the Financial District.

Historical timelines

• 1969 Year of foundation of IIT Stuart School of Business.
• 1971 Year Fulltime MBA program was founded.
• 1980 Year Parttime MBA program was founded.
• 1999 IIT Stuart achieved accreditation from AACSB, the Association to Advance Collegiate Schools of Business.
• 2005 Knapp Entrepreneurship Center founded.
• 2007 Center for Strategic Competitiveness (CSC) established.
• 2007 Year of foundation of Center for the Management of Medical Technology.

Accreditation

Stuart is accredited by the AACSB, the Association to Advance Collegiate Schools of Business. As part of IIT, Stuart is also accredited by the North Central Association of Colleges and Secondary Schools.

Ranking

IIT Stuart's MS in Finance program, generally acknowledged to be the oldest Financial Engineering program in the world, was ranked 3rd in the United States and 20th in the world in a recent Financial Times Rankings. IIT Stuart's MBA program was recognized by the Aspen Institute in 2007 for excellence on social and environmental issues, ranking 48th globally and 1st in Chicago on the Institute's list of the Global Top 100 Schools. Stuart was also selected as a 2008 Best Business School by The Princeton Review. Since 2003-04, Stuart has boasted the 11th ranked Finance/Financial Markets program in the world as ranked by Global Derivatives magazine , and was featured on Business Week's 2004 B School Survey as a 2nd Tier School in the "Also Considered Category." Stuart is ranked 7th Best MBA in Chicago area. Alumni ranked it third in risk management (after the GSB and Kellogg), and first in operations management, marketing research, statistical analysis. MDes/MBA: 2-3 Years program hosted jointly by the Institute of Design and Stuart School Of Business featured on Business Week's 2006 best Design schools survey.

Departments and research centers

• Center for Strategic Competitiveness (CSC)
• Center for the Management of Medical Technology (CMMT)
• Center for Financial Markets (CFM)
• Center for Sustainable Enterprise (CSE)
• IIT Leadership Academy
• Interprofessional Projects Program (IPRO)
• Quantitative Research Lab

Academic programs

Programs Offered

• Masters in Business Administration (MBA)
  • Management Science
  • Marketing
  • Sustainable Enterprise
  • Innovation & Emerging Enterprises
  • Finance

• Master of Public Administration (MPA)
  • Nonprofit Management Specialization
  • Public Management Specialization
  • Public Safety and Crisis Management Specialization
  • Public Works Specialization

• Masters of Science
  • Environmental Management and Sustainability
  • Finance
  • Marketing Communication

• Professional Masters
  • Mathematical Finance

• Doctoral
  • Finance
  • Operations

• Dual Degrees
  • MBA / MS (2 Years)
  • JD/MBA
  • MBA / MPA
  • MDes / MBA (2 - 3 Years)
  • MBA / MSF
  • MS / JD
  • MPA / JD
  • MPA / BS (Political Science)

• Bachelor of Science
  • Business Administration
  • Business Administration and Applied Science
  • Business - Honors Law Program
  • Minor in Business

MDes/MBA

MBA

• Environmental Management Certificates
  • Compliance & Pollution Prevention
  • Sustainable Enterprise

• Graduate Management Certificates
  • Innovation and Emerging Enterprises
  • Marketing Management
  • Business Analytics

• Public Administration Certificates
  • Nonprofit Management
  • Public Management
  • Public Safety and Crisis Management

• Full-time MBA.
• Part-time MBA.

Full-time MBA

• Option 1: General Fulltime MBA 16 courses.
• Option 2: Fulltime MBA with One concentration 18 courses.
• Option 3: Fulltime MBA with Dual Concentrations 20 courses.

Faculty

• Prof. Harvey Kahalas (Dr. Kahalas is the current Dean and the Harold L. Stuart Professor of Management and Economic Development.)

• Prof. Siva K. Balasubramanian (Dr. Balasubramanian is currently the Harold L. Stuart Professor of Marketing, the Associate Dean and the Director of the PhD Program. He previously received the prestigious Fulbright Research Chair. Prior to this, he was the Henry J. Rehn Professor of Marketing at Southern Illinois University Carbondale and Acting Dean of the SIUC College of Business.)

• Prof. John F. O. Bilson (Dr. Bilson was a senior vice president at The Chicago Corporation where he was responsible for establishing the financial futures trading group, TCC Futures Management. He has also served as president of BetaSoft Management and as a vice-president of Trading Development Corporation.)

• Prof. Eliezer Geisler (His research, published in seven books and over 60 scholarly articles, has contributed fundamental and innovative ideas that have significantly influenced the study of many areas, including industry/university/government alliances, entrepreneurship, and technology transfer)

• Prof. Michael Ong (Professor Ong was Executive Vice President and Chief Risk Officer for Credit Agricole Indosuez in New York, where he held enterprise-wide responsibility for all risk management functions for corporate banking, merchant banking, asset management, capital markets activities, and the Carr Futures Group. He was a member of the Executive Committee and chaired the Risk Management Committee, Credit Committee, Market Risk Committee, Equity Investment Committee, and the Operational Risk Committee.Previously, Dr. Ong was Head of Corporate Research Unit for First Chicago NBD Corporation (now Bank One). The unit supports the Bank in its global enterprise-wide risk management function market and credit risk analyses and the allocation of economic capital and oversees the quantitative research units of the trading areas)

• Prof Michael Gorham (He currently serves on the board of directors for the CBOE Futures Exchange in Chicago and, until July 2008, served on the board of the National Commodity and Derivatives Exchange in Mumbai, India. He also serves on the business conduct committee of the Chicago Mercantile Exchange, the editorial boards of the GARP Risk Review and of Futures Industry, as well as the Federal Reserve Bank of Chicago Working Group, and until late 2008, was on the business conduct committee of the National Futures Association. He is regional director of the Global Association of Risk Professionals for Chicago. He is also author to several books and publications.)

• Prof John Nyhoff (He appeared regularly as a market commentator on CNBC, Bloomberg Television, and Bloomberg radio. John is co-author of two industry-related texts: Trading Options on Futures and Trading Financial Futures.)

• Prof Van Vliet (He consults extensively in the financial markets industry, primarily on topics related to the mathematics, technology and management of trading systems.Mr. Van Vliet is the author of three books on trading/investment:Quality Money Management with Andrew Kumiega, Modeling Financial Markets with Robert Hendry, Building Automated Trading Systems.)

• Prof Michael J. Rybak (He is the Team Leader of National Editorial Team, Lead Instructor , Becker Professional Review (1999 - Now). He was the Vice president of United Financial of Illinois Inc and the Vice President of Credit Agrocole Indosuez Bank. He teaches Financial Statement Analysis in the MS Finance program)

• Prof Joel Heilprin (He is the Managing Director of 59th Street Partners LLC. He is also the Vice President of Juno Investment LLC a private equity firm with offices in Chicago and New york. )

• Prof Geoffrey D. Harris ( Dr. harris has a PhD in Physics from University of Chicago and was a physicist conducting research in particle physics, string theory and statistical mechanics. He was also the Vice President/Director of JP Morgan's Quantative Research Department. Previous to that he was the Director of the Quantitative Enterprise Development group at Bank One. He teaches courses on financial modeling and fixed income structuring. His research interests are credit risk modeling, credit risk management and derivatives, simulation and fast approximation of derivatives.)

• Prof Steve Moffit (He is the Director of Research at WR Trading LLC in Chicago. It is a well renowned Propriety Trading firm. Dr.Moffit has over 30 years of experience in various quantitative roles with major achievements. He has assisted in the development of an index arbitrage system for one of the largest index arbitrageurs in the U.S., and developed and tested risk management systems for the largest options clearing firm and for the fifth largest bank in the U.S. He has also served as the research director for a commodities trading advisor, developed computerized trading systems, and developed one system that made several million dollars on racetrack lottery pools and another that wins at Pai-Gow dominoes. In the 1960s, he served as a system analyst at NASA, supporting Apollo Missions by designing, programming, and maintaining a real-time computer system that received all data from the lunar vehicles and remote tracking stations.)

Several practitioners from some of the most prestigious firms in Chicago come to teach courses in the MS Finance program as Adjunct Professors as can be seen above.

Noteworthy alumni

• John Calamos ('65 MBA), Billionaire money manager
• Robert Growney ('74 BS ME, '82 MBA) President and Chief Operating Officer of Motorola
• Carl S. Spetzler ('63 BS CE, '65 MBA, '68 PhD) CEO Strategic Decisions Group.
• William P. Mahoney ('57 BS IE, '61 MBA)
• Ellen Jordan Reidy ('79 BS Psychology, 81' MBA) President and Founder of America’s Food Technologies, Inc.
• John J. Viera (61' MBA)
• Brandon Schauer (MDes/MBA) Design Strategist, Adaptive Path.
• Jordan Kahn (MS Financial Markets), CFA, Portfolio manager, Berger & Associates.
• Sujatha Perepa (MBA), Software IT Architect, IBM Federal Software Group.
• Natalie H. Vania (MS Financial Markets) Founder, Arshiya Ventures.

External links

• IIT Stuart School of Business, official site
• IIT Stuart School of Business, virtual tour
• IIT Stuart School of Business, Linkedin Group