Corpus Chrisi College, University of Cambridge campus buildings, green grass, two people walking

IBUS 6997: Global Medical Valuation Lab

Graduate Global Enrichment in Cambridge, UK

Program Dates:

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Travel Dates: July 7 - 20, 2024

Pre-Departure classes: Saturdays, 9am - 12pm CST on

May 25, June 8, June 15, June 22

*Note that all pre-travel class sessions are required for participation and can be attended virtually.

Program Details

    Innovations in medical technologies are one of the leading areas of economic growth in the world. Whether new technologies take the form of pharmaceuticals, medical devices, biotechnology, information technology or some combination of these innovations, the opportunities for both private enterprise and social welfare are substantial. However, these innovations are not without cost, and require reimbursement from either a privately or publicly financed health care delivery system to enter the marketplace. Thus, the strong demand for the valuation of new medical technologies continues to grow due to the confluence of an aging society seeking new therapeutic agents to enhance health and productivity and unyielding medical care price inflation.

    This course is offered as a collaboration between the Carlson School of Management and the University of Cambridge in Cambridge, United Kingdom. The program is a mix of class sessions, research, site visits, and group work. This Lab is geared to provide participants with an opportunity to work in cross cultural teams with students from two universities on a valuation project.

    The course is designed to: increase students' ability to work in diverse teams; help students develop a more robust understanding of how to evaluate a new technology or service from a global perspective; and increase students’ tolerance for working through ambiguous situations.

    Students participating in this class gain resume quality experience working on live projects, increasing their knowledge of the business environment in Europe, and developing life-long friendships with fellow students.

    The immersion portion of this class will take place in Cambridge, United Kingdom. Cambridge is a university city located on the River Cam, approximately 55 miles north of London. Cambridge is at the heart of the high technology “Silicon Fen,” which contains industries such as software and bioscience and many start-up companies born out of the university. Over 40 per cent of the workforce have a higher education qualification, more than twice the national average. The Cambridge Biomedical Campus, one of the largest biomedical research clusters in the world, includes the headquarters of AstraZeneca and the relocated Royal Papworth Hospital.

    Founded in 1209, the University of Cambridge is the fourth-oldest university in the world. The University is made up of 31 Colleges, six Schools and over 150 Faculties and Departments. More than 20,000 students from 140 countries attend the University. Cambridge promotes the interface between academia and business, and has a global reputation for innovation creating an exciting partnership opportunity for the Valuation Laboratory.

     

    Students will be housed at Homerton College, University of Cambridge. Most of the accommodations will be single occupancy en suite rooms. Guests are not permitted during the program. Breakfast daily, a welcome dinner, and a closing dinner are provided.

     

    • Four graduate elective credits
    • Grading is A-F basis

    Current Students: This program is open to Carlson School graduate students as well as students from nine other University of Minnesota colleges as detailed in the Valuation Lab’s Memorandum of Agreement including: College of Science and Engineering, School of Public Health, College of Liberal Arts, School of Nursing, Law School, College of Design, Medical School and the College of Pharmacy. Students must be in good academic standing, with a minimum GPA of 3.0 at the time of application. The application process is competitive, and space is limited. Meeting the minimum requirements does not guarantee acceptance. 

    University of Minnesota Alumni: This program is open to Carlson School alumni who earned a graduate degree as well as graduates from any of the nine other University of Minnesota colleges as detailed in the Valuation Lab’s Memorandum of Agreement including: College of Science and Engineering, School of Public Health, College of Liberal Arts, School of Nursing, Law School, College of Design, Medical School and the College of Pharmacy. The application process is competitive and space is limited. Preference will be given to alumni with MILI Affiliate status, alumni who have earned their specialization or previously taken the Valuation Lab course.

    Non-University of Minnesota & BAM Students

    If you are an alumnus of another AACSB accredited program, you are invited to take this class on a space available basis. Please refer to the AACSB website for a list of accredited institutions to see if your institution is included. If so, you will only need to complete the application linked under the "Application & Admissions" section of this page.

    U.S. citizens will need a valid passport to travel to the United Kingdom. If you already have a passport, you need to check the expiration date and confirm that it is more than seven months after the program ends. If you do not have a passport, or your passport needs to be renewed, you will need to apply for one immediately upon confirmation.

    A visa is a document that proves that travel into a particular country has been approved by their governing body. U.S. citizens do not need a visa to enter the UK. Non-U.S. passport holders should check with the British consulate regarding visa requirements and fees. If you carry a passport other than a U.S. passport and are required to carry a visa into the UK, you will be responsible for securing your visa; you will work closely with the Program Manager to make sure you have any University-specific documentation that you need.

     

    The application cycle is open and the priority deadline is April 15. To submit your application, please visit the Apply page. There is a $50 application fee.

    After the priority deadline if the program is not full, applications will be accepted on a rolling basis. Priority deadline applications will be reviewed and students will be informed of their status no later than May 15.

     

    For Students: Most financial aid may be applied to study abroad. University of Minnesota students are eligible for education abroad scholarships. Please see Financial Aid and Fellowships webpages for more information including deadlines.

    For Alumni: There is no financial aid available through the University. If currently employed, please check with your employer for potential professional development funds.

     

    This course is open to current graduate students and alumni. Please see below for details:

    Current University of Minnesota Graduate Students

    • You will need to apply for the program through the application linked under the "Application & Admissions" section of this page.  You will get permission to register for IBUS 6997 after confirming your participation.

    University of Minnesota Alumni 

    • You will only need to complete the application linked under the "Application & Admissions" section of this page.

    Non-University of Minnesota Students/Alumni

    • If you are an alumnus of another AACSB accredited program, you are invited to take this class on a space available basis. Please refer to the AACSB website for a list of accredited institutions to see if your institution is included. If so, you will only need to complete the application linked under the "Application & Admissions" section of this page.


     

Cost Estimate (Summary)

*Calculated based on the 2023-2024 Online/PT MBA tuition rate. Students enrolled in another degree program will be charged the tuition rate for four credits associated with their degree program. Please see One Stop for more information about tuition and fees or contact us with questions.

For Enrolled Students Fees
Program Fee (includes program administration, international health insurance, housing, some meals, course materials, transportation to site visits) $3500
International Airfare between Minneapolis and London, UK $1500
Passport and Visa expenses (based on prices for U.S. citizens) $165
Daily Living Expenses (includes incidentals, local transportation, and other expenses not covered by the program fee) $365
Meals not covered in the program fee (most lunches and dinners) $1070
Tuition for Four Academic Credits (not including collegiate, graduate student assembly, or transportation fees)* $6,640
Total $13,240
For Alumni Fees
Program Fee (includes program administration, international health insurance, housing, some meals, course materials, transportation to site visits) $3500
International Airfare between Minneapolis and London, UK $1500
Passport and Visa expenses (based on prices for U.S. citizens) $165
Daily Living Expenses (includes incidentals, local transportation, and other expenses not covered by the program fee) $365
Meals not covered in the program fee (most lunches and dinners) $1070
Total $6,600

Details:

Academic term(s)
Summer Term
Degree level
Graduate
Region
Europe
Country
United Kingdom
Host School
University of Cambridge
Office
Carlson Global Institute (CGI)
Program Model
Instructor-led