Every family is a little dysfunctional, and Penn is no different.
On the eve of Family Weekend 2007, it is ironic that we have what appears to be some sibling rivalry between administrators in the College of Arts and Sciences and Wharton.
In today’s DP, there is a front page article detailing a plan by College Dean Dennis DeTurck and the Dean’s Advisory Board to create a business minor in the College. The catch is, it would not be sponsored by Wharton. The program, named B-FLAT, stands for budgeting, finance, leadership and teamwork.
In one of the funnier quotes of the semester, a College senior was quoted as saying the minor was warranted given that College students view Wharton classes as “too difficult and not worth their time.”
*Note – When trying to justify the legitimacy of your program, saying Wharton classes are “too difficult” is probably not the best way to make people sympathetic to your cause. It just supports the stereotype that College students don’t want to work hard and rely on grade inflation.
Wharton Vice Dean Phillips had it right in saying the program would be a “disservice to the school” and a “dilution” to Wharton.
The rigor and healthy competition fostered in Wharton courses is part of the educational experience. Introductory Wharton courses are already general enough to provide adequate breadth if studied correctly.
For those aspiring entrepreneurs too lazy to read a book on options pricing, simple steps such as reading the Wall Street Journal and watching CNBC everyday can provide you with a surprising wealth of knowledge.
Also, Wharton clubs have always opened their membership to students in other schools.
Wharton is great because it doesn’t sugar-coat life. In the real world, competition is fierce, sometimes you will have to pull all-nighters, and not everyone can get an A.
Tags: College, Dean DeTurck, Wharton
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November 2nd, 2007 at 2:47 pm
For those people who’s passions lie elsewhere, but still what some substantial business background, this might be a good option. Now the History major who wants to know more about business can have her finance and accounting classes count towards something instead of just being ornamental.
November 2nd, 2007 at 3:13 pm
I think the business minor is a great idea. But at the same time, if you’re going to have business classes at Penn, they should be in Wharton. It’s the best business school in the country; the College can’t compete with that, and shouldn’t waste time and resources doing so.
November 2nd, 2007 at 8:04 pm
I think the best solution would be for Wharton itself to offer comprehensive classes to college students. As the article mentions, taking the intro classes doesn’t really help college students understand what they need to know about business. For instance, my Econ 102 class used the same text book as Finance 101, but I know nothing about Finance. I asked a Wharton kid who said “Yeah, intro Finance class really have nothing to do with Finance.” I think that’s where college kids get frustrated.
As for the grade inflation bit, Wharton needs to get off its high horse. The curves may be somewhat unkind, but the material is straightforward and the math isn’t rigorous. I’m in intro accounting right now - it’s just common sense and addition. Contrast that with Nick M and I a couple of years ago coming up with Bessel Functions to solve the shrodinger equation in our Modern Physics class.
November 2nd, 2007 at 9:33 pm
To clarify my article,
I understand your frustration Collin with FNCE 101 because I felt the same way. The title is misleading because it is indeed an Econ course. Economic statistics and theory have huge ramifications in the world of finance regarding interest rates, currencies, and the stock market. Believe it or not, you actually are learning finance. It’s just not how you expected.
I agree that the math we do in Wharton is easy, however the harsh curves makes up for it. When more than 30% of people are getting C’s, it is a hard class, no matter what the material.
The point I was trying to get across in my article is that Wharton classes are as comprehensive as they can be. The frustrations college kids have aren’t unique. Wharton kids have them too. The Wharton “core” is there for a reason. Having a minor in “business” is like saying you major in “science”. The subjects are so broad you have to go in depth if you want to get anything at all out of it.
November 3rd, 2007 at 12:15 pm
Let’s start with a basic (fairly valid) assumption. The College is afraid to have more of its students transfer into Wharton and lured into the Wall Street/Consulting track, which is where this crazy scheme comes in.
Well, if you think getting a BFLAT minor is going to help you work for an iBank, be prepared to be laughed out of the OCR interview suite. If you’re not ready for wharton classes, which are small potatoes compared to the real world, how will you make a case for working in one of the most intense environments in the world? Your Dean DeTurk is not going to create a “Wall-Street-lite” when you bitch and whine about the hours.
Furthermore, there are numerous other general business classes at Wharton that would benefit everyone so maybe College students should look beyond FNCE classes at wharton to find fulfilment. The Marketing department is high calibered and well respected. For the quant types, stochastic processes in the STAT department, would be worth a look.
From where i see it, BFLAT falls pitifully flat.
November 5th, 2007 at 9:16 am
“Well, if you think getting a BFLAT minor is going to help you work for an iBank, be prepared to be laughed out of the OCR interview suite.”
Actually, I was an English major and got an offer from Goldman Sachs.