Carnegie Mellon University

Business Concentration Areas

Our program's uniqueness is based on our business core courses and concentration areas.


Ten concentration areas allow for the development of depth in a particular area of business practice.

Each area has an array of courses that focus on current practices, while benefiting from the research of faculty and business leaders who anticipate the knowledge and skills which will be required in the future. Students must complete at least one area, with three courses.

To see the lists of courses in the area specializations, click on the drop-down menus shown below.

Accounting is an essential subject of study in top business programs. While Introduction to Accounting is a required core course in our Business major, students will take the following courses to build an in-depth area of mastery grounded in analytics, decision-making and strategy.

Choose three elective courses:

    • 70-422  Managerial Accounting
    • 70-424  Corporate Financial Reporting I
    • 70-427  Modern Banks: Strategy and Regulation
    • 70-428  Financial Statement Analysis
This area is designed to provide students with the knowledge and skills that help business leaders apply analytics to improve operation performance and strategic decision-making. Students will learn practical research skills through applied mathematics and statistics in order to report meaningful information and insights from datasets.

Choose three elective courses:

    • 70-374  Data Mining & Business Analytics
    • 70-455  Modern Data Management
    • 70-460  Mathematical Models for Consulting
    • 70-462  Stochastic Modeling and Simulation
    • 73-374  Econometrics II
    • 73-365  Firms, Market Structures and Strategy
Technology is rapidly changing business practices in all areas. The Business Technology focus area prepares students for careers where business and technology intersect, whether that be in finance, marketing, operations or entrepreneurship. Students pursuing this area benefit from Carnegie Mellon’s reputation as a leader in computing and analytic applications of technology. The business and technology area is regularly ranked as #1 in the U.S. News & World Report ranking of management information systems.

Required course:

    • 70-455 Modern Data Management

Choose two elective courses:

    • 70-374 Data Mining & Business Analytics
    • 70-339 Information Technology for Finance
    • 70-443 Digital Marketing and Social Media Strategy
    • 70-453 Business Technology for Consulting

Entrepreneurship at Carnegie Mellon is characterized by experiential learning geared toward leading change, innovation and growth in startups, emerging companies and mature organizations. It seeks to bridge the gap between cutting-edge research and the creation of economic value through commercialization of ideas for products and services. 

The hub of entrepreneurship at the Tepper School is the Swartz Center for Entrepreneurship, a campus-wide center for innovation that brings together business, technology and design within our dynamic, renowned startup community.

Required courses:

    • 70-415 Introduction to Entrepreneurship, or
      • 70-414  Introduction to Entrepreneurship for Engineers
      • 70-420  Introduction to Entrepreneurship for Scientists
      • 70-421  Introduction to Entrepreneurship for Computer Scientists
      • 70-425  Entrepreneurship for the Creative Industries
    • 70-416  New Venture Creation

 Choose one elective course:

    • 70-395  Funding Entrepreneurial Ventures
    • 70-438  Commercialization and Innovation
    • 70-439  Entrepreneurial Teams
    • 70-449  Social, Economic and Information Networks

The Finance concentration prepares students to work in a variety of financial institutions, including asset management and commercial and investment banking to supply the analysis necessary to make profitable decisions.

Required courses:

    • 70-492 Investment Analysis
    • 70-495 Corporate Finance

Choose one elective course:

    • 73-338 Financial Crises and Risk 
    • 70-353 Economic Foundations of Regulation: Applications to Financial Markets
    • 70-398 International Finance
    • 70-497 Derivative Securities
Information design has emerged as a critical success factor in all forms of communications related to strategy, marketing and operations effectiveness. Big data analytics is an important reason why visualization has become a key element of displaying data effectively. Students in this concentration learn the principles and techniques that make such meaningful display possible.

Required course:

    • 70-160 Introduction to Graphic Communications: Processes and Materials

Choose two elective courses:

    • 70-196 Publishing on the World Wide Web
    • 70-347 Publishing Management in the Information Age
    • 70-349 Color Reproduction & Management
    • 70-514 Independent Study: Graphic Media Management

Students completing this concentration gain knowledge and understanding of management issues faced by multinational companies in creating and exploiting their global presence. Culture, languages and local customs, and the detailed relationships between these and strategic management decision-making and effectiveness, are explored in an integrated international framework.

Choose three elective courses plus the Independent Study:

    • 70-342 Managing Across Cultures
    • 70-365 International Trade & Law
    • 70-430 International Management
    • 70-480 International Marketing
    • 70-508 Independent Study in International Management (three-unit minimum). This involves cultural preparation for the experience abroad.

Experience Abroad:

The International Business Area requires at least one semester of study abroad, or a substantial internship abroad (e.g., one summer or one semester), or both. Study abroad programs should provide substantial immersion in the culture. Contact the Area Advisor for assistance.

Language Requirement:

Students must demonstrate conversational proficiency in a language other than English, to the satisfaction of the Area Advisor. (This may be, but is not necessarily, the same language used during the experience abroad.) Proficiency may be demonstrated in several ways, including:

    • Long-term residence in a country that requires knowledge of the language (normally the case for international students).
    • Language courses, normally including at least one intensive course that lasts several weeks. A few semesters of high school or college study do not necessarily satisfy the requirement.
    • Successful completion of at least one semester of courses taught in the language in a country where it is spoken, or employment that requires conversational knowledge of the language.
The Tepper School is one of the pioneers and has fundamentally changed how scholars think about organizations. This area of study builds on the program’s strengths in groups, negotiation and conflict management, social networks within and between organizations, and organizational learning and management. Within the framework of the business major's analytical decision-making, this area introduces models and techniques that build leadership skills for organizational success.

Choose three elective courses:

    • 70-318 Managing Effective Work Teams 
    • 70-321 Negotiation and Conflict Resolution
    • 70-342 Managing Across Cultures
    • 70-341 Organizational Communication
    • 70-437 Organizational Learning and Strategic Management
    • 70-440 Corporate Strategy
Students pursuing the Marketing concentration area learn how to apply the latest in research and data analytics to problems of creating and sustaining customer engagement through brand development, advertising and marketing communications strategies. Both consumer and industrial marketing are supported through courses emphasizing behavior, data analytics and supply chain issues.

Required courses:

    • 70-481 Marketing Research

Choose two elective courses:

    • 70-385  Consumer Behavior
    • 70-482  Pricing Strategy
    • 70-483  Advertising & Marketing Communications
    • 70-485  Product and Brand Management

Students completing this concentration gain knowledge and understanding of management issues involved in the design, production and distribution of goods and services. Because operations management provides the tools to analyze, improve and position a firm's operations to achieve competitive advantage, marketing and financial success, it is also highly important to consulting firms specializing in these areas.

Required courses:

    • 70-471 Supply Chain Management

Choose two elective courses:

      • 70-460 Mathematical Models for Consulting
      • 70-462 Stochastic Modeling and Simulations
      • 70-477 Real Options