An selected group of 28 business schools of the world, that will enable it to offer a double master's degree to select students at the time of passing out. The IIMC administration calls this the first step towards "Globalisation" - a pledge it took on completing its golden jubilee in 2011.
The classification changed recently within it decided to open its doors to elite B Schools beyond Europe. The London School of Economics, HEC France, Essade Spain, HKUST Hong Kong and Richard Ivy from Canada are members of the CEMS. It still does not accept membership from B Schools in the US.
IIM Calcutta will be the first Indian B School to be part of the CEMS. It went through a year long vetting where IIMC Curriculum, teaching and examination techniques, achievements of students ans placements were considered. The confirmed factor for IIMC was its focus on quantitative course - those with a hint on operations management and finance, heavily depending on Maths and statistics. That apart, IIMC is the only one in the IIM chain to have a management centre for Human Values, which won its brownie points.
Being a CEMS member would mean that select IIMC students will now get the coveted Masters in Management Programme degree, better known worldwide as the MIM degree which has been consistently rated as one of the five best global management degrees. The institute is modifying its two year flagship programmes so that the top 27 students can also get the MIM degree at the time if graduating from IIMC. Students who enter from the 2013 academic year will be eligible for the new course.
Ashoke Banerjee, IIMC Dean said, "We limit the opportunity to 27 students because each students would be attending course modules framed by the 27 other member B Schools of CEMS on their respective campuses. To attain this double degree students will have to put in at least 75 hours of extra classroom contact apart from international projects that he/she will have to do. This is over and above attending the IIMC curriculum and exams".
Students would be admitted fro the programme only after their first year results have been declared. After completing the first term of the second year, admitted students will have to attend classes fro three months at a CEMS member school abroad, and return to IIMC fro the final term.
Banerjee also said, "The curriculum of such students in the second year here will also include extra modules designed keeping the MIM degree in mind".
The institute will tie up with foreign companies so that these selected candidates for the CEMS course will complete their summer internship with them and submit the mandatory international project.