Program terms
- Core curriculum
- The required courses every student takes, usually early in the program. It typically covers accounting, finance, marketing, operations, statistics, economics, strategy and leadership.
- Electives
- Courses you choose yourself after or alongside the core.
- Concentration
- A group of electives in one area, such as finance or marketing. Some schools call it a major or specialization. It may or may not appear on your transcript.
- Cohort
- A group of students who start together and take some or all classes together. Executive programs often keep one cohort for the whole program.
- Section
- A smaller group within a large class, often used for core courses.
- Lockstep
- A program where every student takes the same courses in the same order.
- Residency or immersion
- A short in-person session in an online or executive program, held on campus or in another city.
- Synchronous and asynchronous
- Live classes at a set time, and self-paced work you complete before a deadline.
Teaching terms
- Case method
- Teaching through written accounts of real business situations. Students read the case beforehand and discuss what the manager should do.
- Experiential learning
- Hands-on projects, often with real companies or nonprofits, that apply classroom ideas.
- Simulation
- A game or exercise where teams run a model business and see the results of their decisions.
- Trek
- A student-organized trip to visit companies in an industry or region.
Admissions terms
- Rounds
- Fixed application periods, each with its own deadline and decision date. Common in full-time programs.
- Rolling admissions
- Applications reviewed as they arrive, with decisions sent through the year.
- Test waiver
- Permission to apply without a test score, based on criteria the school sets.
- Deferred admission
- An offer that lets you start a year or more later. Some schools run programs that admit college seniors for a later start.
- Waitlist
- A list of applicants who may be offered a place if spots open up.
- Employer sponsorship
- Support from your employer, which may mean time off, money or both. Some executive programs ask for a letter confirming it.
Money terms
- Cost of attendance
- A school's estimate of the full cost of a year of study, including tuition, fees and living costs.
- FAFSA
- The Free Application for Federal Student Aid, used to apply for federal aid in the United States. See the financing guide.
- Fellowship
- A scholarship, sometimes with extra duties or a program attached.
- Tuition assistance
- Money an employer pays toward your education, usually with conditions.
- Opportunity cost
- What you give up to study, such as salary during a full-time program.
For how these fit together, start with the home page and the four format guides linked below.