This blog documents my MBA student life at Ryerson University, Canada (2010-2012). It was an attempt to demystify the MBA experience, help understand MBA topics & encourage MBA wannabes. I have a Pre-MBA blog about B-School application process (and a few other blogs) as well. I used to blog actively in the past and interact with readers regularly, but life got very busy after my MBA. Good luck. Take care. Cheers! Gerry.
Sunday, May 15, 2011
The Top Ten Lines for Hitting on an Economist
The Top Ten Lines for Hitting on an Economist:
1. You’ve got the curves to supply my demand!
2. Let’s go to bed and try to disprove the law of diminishing marginal utility.
3. You’re my very favorite kind of moral hazard.
4. I have a feeling you really understand the “nature of the firm.”
5. Baby, I love you so much I’m willing to forgo my exit option.
6. Wanna talk about our private goods?
7. You’re an economist. I’m an economist. How about a little horizontal integration?
8. Now those are some tangible assets!
9. I’ll reveal my preferences if you will.
10.Bottom up or top down?
1. You’ve got the curves to supply my demand!
2. Let’s go to bed and try to disprove the law of diminishing marginal utility.
3. You’re my very favorite kind of moral hazard.
4. I have a feeling you really understand the “nature of the firm.”
5. Baby, I love you so much I’m willing to forgo my exit option.
6. Wanna talk about our private goods?
7. You’re an economist. I’m an economist. How about a little horizontal integration?
8. Now those are some tangible assets!
9. I’ll reveal my preferences if you will.
10.Bottom up or top down?
Funny cartoon about unemployment :)
Funny cartoon from Pittsburgh Post-Gazette about UNEMPLOYMENT:
A Master's degree graduate applies at McDonalds. Hiring manager says "Sorry kid... Your resume looks good, but you only have a Master's degree. All the other applicants are Ph.D.s". Graduate walks away disappointed, thinking "I guess I'll try Burger King (for job)".
Regarding Job hunt for MBA students...
I remember reading this interesting snippet somewhere:
Question: When is the best age for a person to start planning for retirement? 35? 45? 50? Guess?
Correct answer: The best age / time is the day you start your first job and get your first pay cheque / salary.
Similarly,
Question: When is the best time to start job hunting, after you join the MBA program?
Correct answer: From the first day of the MBA program!!!
What can one do to work towards secure the dream job after the MBA program?
Question: When is the best age for a person to start planning for retirement? 35? 45? 50? Guess?
Correct answer: The best age / time is the day you start your first job and get your first pay cheque / salary.
Similarly,
Question: When is the best time to start job hunting, after you join the MBA program?
Correct answer: From the first day of the MBA program!!!
What can one do to work towards secure the dream job after the MBA program?
- Get your business cards printed - even if it as an MBA student (please feel free to copy from my business card from a post below) and hand them out like candy on Halloween. :)
- Develop your professional resume
- Develop your online identity. Keep it clean, impressive and strong.
- Build profiles on LinkedIn (http://www.linkedin.com/), Twitter (http://twitter.com/), Facebook (http://www.facebook.com/).
- Also, Workopolis (http://www.workopolis.com/EN/Common/HomePage.aspx), Monster (http://www.monster.ca/) and other useful sites.
- Develop social contacts
- Develop professional contacts (network!, network!, network!)
- Make a list of your dream companies (employers) and dream jobs
- Keep in touch with the Career Service Department of TRSM.
- Attend the career counseling sessions organized from time to time
- Keep track on job openings (through personal research) and keep applying for the jobs as and when you see vacancies (it is never early enough, as some applications take a long time to process and some resumes stay in the database of companies for a year or more)
- Become a member of professional organizations
- Attend the workshops, seminars, guest lectures organized from time to time at TRSM.
- When is doubt, ask! (classmates, profs, staff).
Extracurricular activities during the MBA program (my personal experience)
My initial strategy in the past was to go LEAN - to conserve time, money & energy and focus only on studies. My thinking was to focus only on activities that create value (knowledge) and exclude activites that lead to wastage of resources. Details about the concept of Lean are here (http://en.wikipedia.org/wiki/Lean_manufacturing). My intent was to give 100% in the classroom and not worry so much about the extra-curricular activities. Even though this strategy help me to understand my subjects well, I felt that I missed out on the networking aspects in the past. However, that was specific to my circumstance in the past, where going Lean was essential for me to conserve resources.
However, I realize now, that the best strategy is to participate in as many career building and networking activities. There are tons of actitivies - conferences, parties, seminars, workshops conducted in the MBA program, (especially, starting September of the year, in the Fall term) and it is a good idea to make the most of these events.
Yes, it is important to pass the MBA subject courses using the limited time available (24 hours do not seem enough in a day!), but it is also important to develop one's personality, to learn social skills, to build Social capital (http://en.wikipedia.org/wiki/Social_capital) & Social Networks (http://en.wikipedia.org/wiki/Social_network). It is important to develop self confidence, speaking skills, presentation skills, negotiation skills, interview skills, socializing skills. And this can happen only when there is a lot of interaction with classmates and with professors / staff at the MBA program. And perhaps the most important aspect of making social contacts is JOBS. The better your network, the higher your chances are, of landing a decent job after the MBA.
I intend to continue using the Lean strategy for the coming academic year too, but hope to be a bit more active in the social circuit now on. I have no plans of contesting in the Student Elections in the Fall 2011 term (I shall cheer for my classmates who do and shall wish them well). I am not sure if I shall participate in the Canadian MBA games 2012 (to be held in the University of Alberta School of Business in Edmonton, Alberta, Canada). But I shall try to work hard towards participation in MBA case competitions as and when they are conducted. Case competitions help MBA students sharpen Business Strategy skills and help become good Management Consultants and this is of great interest to me.
I do intend to get a firm grasp of all the subjects that I shall study in the program, so that I become a good MBA graduate. And when the time comes for me to implement my MBA knowledge on my first job after the program, I hope to be confident and fully ready for it!
However, I realize now, that the best strategy is to participate in as many career building and networking activities. There are tons of actitivies - conferences, parties, seminars, workshops conducted in the MBA program, (especially, starting September of the year, in the Fall term) and it is a good idea to make the most of these events.
Yes, it is important to pass the MBA subject courses using the limited time available (24 hours do not seem enough in a day!), but it is also important to develop one's personality, to learn social skills, to build Social capital (http://en.wikipedia.org/wiki/Social_capital) & Social Networks (http://en.wikipedia.org/wiki/Social_network). It is important to develop self confidence, speaking skills, presentation skills, negotiation skills, interview skills, socializing skills. And this can happen only when there is a lot of interaction with classmates and with professors / staff at the MBA program. And perhaps the most important aspect of making social contacts is JOBS. The better your network, the higher your chances are, of landing a decent job after the MBA.
I intend to continue using the Lean strategy for the coming academic year too, but hope to be a bit more active in the social circuit now on. I have no plans of contesting in the Student Elections in the Fall 2011 term (I shall cheer for my classmates who do and shall wish them well). I am not sure if I shall participate in the Canadian MBA games 2012 (to be held in the University of Alberta School of Business in Edmonton, Alberta, Canada). But I shall try to work hard towards participation in MBA case competitions as and when they are conducted. Case competitions help MBA students sharpen Business Strategy skills and help become good Management Consultants and this is of great interest to me.
I do intend to get a firm grasp of all the subjects that I shall study in the program, so that I become a good MBA graduate. And when the time comes for me to implement my MBA knowledge on my first job after the program, I hope to be confident and fully ready for it!
Accounting.
The prescribed textbook is:
Financial Accounting - a critical approach - by Friedlan
(comes with Lyryx software & Connect)
Its a good book and gives the Canadian perspective.
Financial Accounting - a critical approach - by Friedlan
(comes with Lyryx software & Connect)
Its a good book and gives the Canadian perspective.
Spring term 2011: My workload
ECONOMICS (MB8006):
Study before class (textbook + Blackboard notes)
Study after class
Participation in class
Online assignment
Connect - online study
ACCOUNTING (MB8004):
Study before class (textbook + Blackboard notes)
Study after class
(Its recommended to study 15 hours per week, apart from classes)
Participation in class
Lyryx practice - online labs
Connect - online study
Online quizzes
Group assignment
Individual assignment
Report submission
Mid term exam
Final exam
All this, with 4 classes per week of 3 hours each (total 12 hours, plus 8 hours commute time - to & fro - equals 20 hours spent) in addition to my part time job. Intensive indeed! This is full time work. Considering that these 2 subjects are vast, there is no end to to the amount of studying and the depth of knowledge that one can attempt to acquire. I know of some new full time classmates (class of 2012) of non-commerce background who are doing 5 courses (Accounting, Economics, Marketing, Finance plus an extra Business Statistics / Quantitative Methods from Chang school) in this Spring / Summer term and I must say they are very brave indeed. Hope it works out fine for everyone. Will need full time commitment and a lot of hard work for sure! It is certainly not possible to hold a job on the side with such work load!
Study before class (textbook + Blackboard notes)
Study after class
Participation in class
Online assignment
Connect - online study
1st Test (Wednesday, May 25, 2011)
2nd Test (Monday, June 6, 2011)
Final Exam (Wednesday, June 22, 2011)
ACCOUNTING (MB8004):
Study before class (textbook + Blackboard notes)
Study after class
(Its recommended to study 15 hours per week, apart from classes)
Participation in class
Lyryx practice - online labs
Connect - online study
Online quizzes
Group assignment
Individual assignment
Report submission
Mid term exam
Final exam
All this, with 4 classes per week of 3 hours each (total 12 hours, plus 8 hours commute time - to & fro - equals 20 hours spent) in addition to my part time job. Intensive indeed! This is full time work. Considering that these 2 subjects are vast, there is no end to to the amount of studying and the depth of knowledge that one can attempt to acquire. I know of some new full time classmates (class of 2012) of non-commerce background who are doing 5 courses (Accounting, Economics, Marketing, Finance plus an extra Business Statistics / Quantitative Methods from Chang school) in this Spring / Summer term and I must say they are very brave indeed. Hope it works out fine for everyone. Will need full time commitment and a lot of hard work for sure! It is certainly not possible to hold a job on the side with such work load!
Studying Economics today
Studying Economics today. Trying to grasp the basic concepts. Economics is new for me. It is divided into 2 parts - Micro-Economics & Macro-Economics. Learning about the Markets, Supply, Demand, Equilibrium, various Economics theories.
The text books which are recommended for us are (it is necessary to get the Connect software as well, it order to complete class assignments):
The text books which are recommended for us are (it is necessary to get the Connect software as well, it order to complete class assignments):
- C. McConnell, S. Brue, Flynn, S., T. Barbiero, MICRO-ECONOMICS, 12th Canadian edition, Toronto: McGraw-Hill Ryerson, 2010.
- C. McConnell, S. Brue, Flynn, S., T. Barbiero, MACRO-ECONOMICS, 12th Canadian edition, Toronto: McGraw-Hill Ryerson, 2010.
About FUNDING for the Ryerson MBA program
Here are some resources that I am familiar with:
Regarding Financial Aid from TRSM, you can access it at the link: http://www.ryerson.ca/mba/financialaid/ . More info at the link: http://www.ryerson.ca/tedrogersschool/tedrogersschoolawards/. Application forms for the Graduate Entrance Awards (G.E.A.) & Graduate Entrance Scholarships (G.E.S.) can be found at the links below:
Ted Rogers G.E.A. application form:
http://www.ryerson.ca/currentstudents/awards/pdfs/schol_ent_private_trsm_grad_ent_award.pdf
Ted Rogers G.E.S. application form (go to the 2nd page. 1st page is blank):
http://www.ryerson.ca/currentstudents/awards/pdfs/schol_ent_private_trsm_grad_ent_schol.pdf
Remember, if you do not fill in the applications and apply, you may not be considered for these Awards / Scholarships. So please do apply ASAP. $20,000 can help you in a big way to get your MBA education. Good luck to you !!! Hope you get $20,000 :) God Bless the late Edward (Ted) Rogers / The Rogers family of Canada for these financial Aid to students. May Ted's soul rest in peace.
Regarding the TA / GA positions (Teaching Assistants / Graduate Assistants), the link is as below.
https://www.taga.ryerson.ca/jobs/index.cfm?fuseaction=apl.jobs
If you find a good fit to your background, do apply. It helps to have TA / GA experience. I hear that these positions pay well, anywhere upto $25 to $35 per hour (limited hours per week). Keep checking the TA/GA website from time to time as these jobs go fast!
Regarding bank Loans, one can apply from the country of origin. For Canadian citizens & PRs (Permanent Residents), there are ofcourse, the Big 5 banks (TD, BMO, CIBC, RBC & Scotiabank) apart from smaller banks. These banks require that you have a good credit history / score and also a guarantor for loans, in case you default and fail to pay back the loan. The problem, though, for a new immigrant to Canada is to find such a guarantor. Personally, I could not find a guarantor and hence, I was unable to secure funding from a bank.
For international students, they have to enquire from their country of origin for bank loans for international studies. For India (my country of birth and upbringing, before coming to Canada and becoming a Canadian citizen), I know that banks like State Bank of India, ICICI bank, Canara bank etc do offer student loans for international studies.
The limiting factor for most students trying to get into the MBA program is FUNDING. Thus, it is very important to plan ahead and plan well. There are some students blessed with abundant resources from various sources, but the rest of us have to be careful with spending during the program, in order to be able to manage finances until the course is complete. The worst thing that can happen (apart from continuity of studies being affected by lack of money) is studies being disturbed because of constant worries about finances. I wish you smooth sailing during your Ryerson MBA program!
Cheers!
Gerry Som.
Ryerson MBA Full Time student, Class of 2012.
- OSAP (Ontario Student Assistance Program)
- Bank loans (these usually need a guarantor)
- Private loans (from family / friends)
- Personal Savings (from the past)
- Part Time job (to cover living expenses)
- TA / GA work on campus (limited positions & hours available)
- Ted Rogers Scholarship / Award ($20,000 each, 18 available per year)
- Other scholarships outside Ryerson, offered by other communities (example Italian heritage) & other professional societies
- Bursary from Ryerson University
- Emergency funding upto $500 for international students (enquire with Ryerson Students Union office)
Regarding Financial Aid from TRSM, you can access it at the link: http://www.ryerson.ca/mba/financialaid/ . More info at the link: http://www.ryerson.ca/tedrogersschool/tedrogersschoolawards/. Application forms for the Graduate Entrance Awards (G.E.A.) & Graduate Entrance Scholarships (G.E.S.) can be found at the links below:
Ted Rogers G.E.A. application form:
http://www.ryerson.ca/currentstudents/awards/pdfs/schol_ent_private_trsm_grad_ent_award.pdf
Ted Rogers G.E.S. application form (go to the 2nd page. 1st page is blank):
http://www.ryerson.ca/currentstudents/awards/pdfs/schol_ent_private_trsm_grad_ent_schol.pdf
Remember, if you do not fill in the applications and apply, you may not be considered for these Awards / Scholarships. So please do apply ASAP. $20,000 can help you in a big way to get your MBA education. Good luck to you !!! Hope you get $20,000 :) God Bless the late Edward (Ted) Rogers / The Rogers family of Canada for these financial Aid to students. May Ted's soul rest in peace.
Regarding the TA / GA positions (Teaching Assistants / Graduate Assistants), the link is as below.
https://www.taga.ryerson.ca/jobs/index.cfm?fuseaction=apl.jobs
If you find a good fit to your background, do apply. It helps to have TA / GA experience. I hear that these positions pay well, anywhere upto $25 to $35 per hour (limited hours per week). Keep checking the TA/GA website from time to time as these jobs go fast!
Regarding bank Loans, one can apply from the country of origin. For Canadian citizens & PRs (Permanent Residents), there are ofcourse, the Big 5 banks (TD, BMO, CIBC, RBC & Scotiabank) apart from smaller banks. These banks require that you have a good credit history / score and also a guarantor for loans, in case you default and fail to pay back the loan. The problem, though, for a new immigrant to Canada is to find such a guarantor. Personally, I could not find a guarantor and hence, I was unable to secure funding from a bank.
For international students, they have to enquire from their country of origin for bank loans for international studies. For India (my country of birth and upbringing, before coming to Canada and becoming a Canadian citizen), I know that banks like State Bank of India, ICICI bank, Canara bank etc do offer student loans for international studies.
The limiting factor for most students trying to get into the MBA program is FUNDING. Thus, it is very important to plan ahead and plan well. There are some students blessed with abundant resources from various sources, but the rest of us have to be careful with spending during the program, in order to be able to manage finances until the course is complete. The worst thing that can happen (apart from continuity of studies being affected by lack of money) is studies being disturbed because of constant worries about finances. I wish you smooth sailing during your Ryerson MBA program!
Cheers!
Gerry Som.
Ryerson MBA Full Time student, Class of 2012.
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