Machine Learning

Popular NYU-Stern Professor Offers His Classes For Free on Coursekit, 1,800 Sign Up

Why buy an MBA, when you can get the class for free?
screen shot 2012 02 02 at 12 54 54 pm Popular NYU Stern Professor Offers His Classes For Free on Coursekit, 1,800 Sign Up

A sample question

This semester, Coursekit, an academic social network of sorts that gives teachers and students a way to communicate outside of class, tried a little experiment from the Peter Thiel school of thought.

Coursekit founder Joseph Cohen, a Wharton drop-out and TechStars New York alum, was already familiar with the work of Aswath Damodaran, a professor at NYU’s Stern School of Business with a big academic following. So last year, he cold-emailed Mr. Damodaran to encourage him to join Coursekit’s pilot program. “I don’t think he was looking [for a solution like] Coursekit,” Mr. Cohen told Betabeat by Gchat. “But when he saw what it could do…he and I really hit it off.”

This semester, Mr. Damodaran decided to take it one step further and offer both his Corporate Finance and Valuation classes to anyone around the world, for free*. Considering that an MBA from NYU-Stern costs $100,894 for residents (with a “recommended annual budget of $82,867), we’d say that’s a pretty good deal. (*Beer pong networking sessions with the future 1 percent not included.)

The first lecture started Monday, said Mr. Cohen. Without any press, almost 1,800 students signed up from 40 countries, representing six continents. “I believe in a future where you don’t need to go to school to get an ‘education.’ This is a taste of that,” he added.

On his blog, Musings on Markets, Mr. Damodaran called it, “a small challenge to the ‘university’ business model.” (The scare quotes are his). “For hundreds of years, we (as consumers) have had no choice. Universities have operated with little competition and substantial collusion,” he writes.

“But I think that the game is changing, as technology increasingly undercuts the barriers to entry to this business. I am not just talking about online universities (which, for the most part, have gone for the low hanging fruit) or the experiments in online learning from MIT, Stanford and other universities. These are evolutionary changes that build on the university system and don’t challenge it. I am talking about a whole group of young companies that have made their presence felt by offering new tools for delivering class content and learning. I am convinced that the education market is going to be upended in the next decade and that the new model is going to do to universities what Amazon has done to brick and mortar retailers.”

Unlike Coursekit competitor/nemesis Blackboard, a clunky closed-off system Betabeat first used back in 2006 during our own stint at an NYU grad school, the lectures and content will stay up accessible to all on line.

In a message to students, Mr. Damodaran said, “I want to make this class the very best class you have ever had (not just online but ever).” But he did offer a conciliatory note to his NYU employers:

“Just to be clear, my first obligation is to the students in my MBA classes and I will not stint or compromise on that obligation, but I view delivering a great learning experience to those taking the class online as a close second. Note also that you will not get any credit from NYU for taking this class.”

Sort of puts the question of whether you’re getting an MBA for the knowledge or the connections in stark contrast, doesn’t it?

Follow Nitasha Tiku on Twitter or via RSS. ntiku@observer.com

Comments

  1. Guest says:

    I received my MBA from Stern and, while the education was excellent, I don’t feel that the classroom knowledge was anything that I needed to be there to learn. I could have used online syllabi and a library card, along with several websites, to get 99% of the classroom learning. In my opinion, the MBA provides the ability to network, attend after-class events that you would be unable to attend otherwise, and add 3 letters to your resume which all businesses seem to respect… I say seem because business professionals are always amazed when I tell them I graduated with distinction yet was unable to get a job. If I spent the same amount of time doing some hard core networking and learning on my own, I would have saved over 100K and would probably be further along in my career today.

  2. Peter says:

    How can I obtain the code for coursekit, to take the free Corporate finance course?

    1. Jim says:

      You can just go to coursekit.com/finance and then click the blue ‘Join Now’ button on the right side of the page.