Macquarie Graduate School of Management stays autonomous

MACQUARIE Graduate School of Management will remain autonomous from the university's faculty of business and economics, vice-chancellor Steven Schwartz announced yesterday after months of uncertainty.

MACQUARIE Graduate School of Management will remain autonomous from the university's faculty of business and economics, vice-chancellor Steven Schwartz announced yesterday after months of uncertainty.

Accepting the recommendation from a panel set up to review the school's status when the trend in Australia and the US is for business schools to join faculties within the universities which house them, Professor Schwartz said there had been "no compelling argument for integration to occur". "Rather (the panel) regarded the MGSM's autonomy as a major strength and point of differentiation in the sector," Professor Schwartz said.

Before establishing the panel, Professor Schwartz had expressed strong doubts about Macquarie following the trend. This followed earlier suggestions the university might fold MGSM into it economics faculty.

Deputy vice-chancellor (provost) Judyth Sachs said the review had found "a loyal alumni community, an engaged student body and committed business partners all dedicated to an autonomous MGSM". She said the school was successful, citing its appearance in the 2009 London Financial Times Executive Education Rankings Top 50 for the second consecutive year.

The review also recommended the school concentrate on future direction, with challenges including how to respond to the global financial crisis. The priority was to select a new dean, Professor Sachs said, and she hoped to appoint a search firm by the end of the week.

Yesterday Macquarie claimed the MGSM would be Australia's only autonomous graduate business school, a claim dismissed as premature by Melbourne Business School.

"Melbourne Business School is a stand-alone business school, as it has always been," associate dean, MBS academic programs, Jenny George, said. "We are currently in negotiations with Melbourne University, but nothing is yet finalised."