MBA Exchange at UNC
Kenan-Flagler
Business School
SPRING 2016 – UNIVERSITY OF NORTH CAROLINA AT
CHAPEL HILL
287658
Contents
1.
Introduction ............................................................................................................................. 2
2.
Preparation for exchange ........................................................................................................ 2
3
2.1
Preparation process, including F-1 Visa .......................................................................... 2
2.2
Housing in Chapel Hill area ............................................................................................. 3
2.3
Mandatory health insurance ............................................................................................. 5
Exchange life .......................................................................................................................... 6
3.1
Exchange duration ............................................................................................................ 6
3.2
UNC Campus ................................................................................................................... 6
3.3
MBA Exchange buddy program ...................................................................................... 6
3.4
Opening a bank account ................................................................................................... 6
3.5
Food in Chapel Hill .......................................................................................................... 7
3.6
Travelling during the exchange ........................................................................................ 8
3.7
Tar Heels sports culture.................................................................................................... 8
3.8
Weather in Chapel Hill ..................................................................................................... 9
4
Courses available for MBA Exchange students...................................................................... 9
5
Ending notes.......................................................................................................................... 13
1
1. Introduction
I had not heard about UNC Kenan-Flagler before doing research about available exchange slots
within Aalto University. However, UNC Kenan-Flagler is really respected and highly ranked
university in United States. For example, when I told my undergraduate exchange friends from
United States that I’m going to UNC for a MBA exchange – they were really impressed and
knew exactly what kind of university this is. For full-time students, it is really hard to get into the
program and they also pay a fortune from their degree. This sets expectations really high for their
courses and within almost all courses – expectations were met.
This report aims to give you some useful information about Chapel Hill and UNC Kenan-Flagler
Business School. Please read through older travelling reports: they are great and the information
in them is still valid.
2. Preparation for exchange
2.1 Preparation process, including F-1 Visa
Patricia is the contact person in UNC Kenan-Flagler and she was helpful and responded to
emails really quickly. Before and during the exchange, she was the person who helped exchange
students with course registration, housing and other things related to UNC and Chapel Hill.
Overall, preparation for exchange took time but it was manageable.
First email regarding exchange was sent 27th August 2016. This included process of applying for
exchange - This was just a formality; you can’t be denied based on this application process. This
email also included information about other required tasks such as sending a bio, resume and
professional picture. You also needed to express mail financial certificate proofing that you have
the necessary funds for the exchange (~$9000 was required). Proof can be bank statement signed
by your bank as well as proof letter from Kela that you will receive benefits during the exchange
period. Deadline for all these tasks was October 1st. After this was finished, your F-1 visa
process is ready to start.
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Once your financial documents are approved you will receive 'Form I-20' (Certificate of
Eligibility). This is a document that you need to present at the time of your visa interview. The
I-20 is a form issued by the school which shows that you are eligible to attend this institution as a
non-immigrant in student status.
After filling multiple internet forms, completing payments and acquiring visa picture you are
allowed to book an interview. Interview seemed to be just a formality: it took ~5min and you
were just asked why are you going to United States and why. Make sure you book your visa
interview as soon as possible!
See more information about visa process from US Department of State Student Visas and ICE
Process timeline:

October 1: Exchange Application due the latest

September - October: You will be registered at UNC

November: You will receive your admission package and visa documents

December: Online Course registration

December: Prepare your immunization and register your health insurance

January 6 - 8: Expected arrival

January: Monday, 11th and Tuesday, 12th - mandatory orientation

January 13: Mod III first day of classes
2.2 Housing in Chapel Hill area
There are three main alternatives for housing:
1. ON Campus Housing: Application was open starting November 2 at 8 am EST (Eastern Standard
Time). The application portal for housing was in Connect Carolina. In 2016, all exchange students
who applied for on-campus housing were accepted. However, some exchange students had to live in
older apartments (these houses are not available for housing after Spring 2016). Housing allocation
was done based of who was the fastest applicant – therefore, make sure you complete your
application immediately when it come available.
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Until Spring 2016, most MBA exchange students were able to get offers from 1101 Mason Farm
Road. However, these will not be available for future exchange students after Spring 2016. Future
exchange students will still be offered on-campus housing from different dormitories / houses – I
heard rumours that they will be offered from Beauty Hill.
Housing in 1101 Mason Farm Road cost ~$3800 for the Spring semester and you were allowed to
stay there until 31 May. Most of the apartments were shared with one roommate. You were allowed
to apply also for private apartments but they cost a few hundred dollars more than apartments with
roommates. UNC connected roommates based on their personalities and living preferences. These
questions were asked during housing application.
2. OFF campus housing: There are various off-campus locations where many MBA students live.
Most are on bus-lines, but very few are in walking distance from the university, even though the
advertisement of the housing complex site may indicate it. For off-campus housing, see also
previous exchange reports. In my opinion, most important factor would be to know where other
exchange students live. If most of the exchange students would live on-campus, you should as well.
If most are living off-campus, you should figure out where and have housing nearby there. I would
have missed best parts of this exchange if I had not lived at 1101 Mason Farm road this semester
because many of the coolest parties / gatherings happened casually. Only small share of parties was
pre-planned with people living off-campus.
Patricia’s list of possible neighborhoods:

Alta Springs - 5 miles from the Business School. Lots of our MBAs live there. Very
popular place. Need car or be prepared to take the bus. On bus routes.

Meadowmont - 4 miles from Business School, close to Alta Springs.

Autumn Woods - 3 miles from Business School, need car. On bus route.

Glen Lennox - 1 mile from Business School. 6 months leases only. Would
recommend car.

Sunstone - 2 miles from Business School. Close to shopping. Would recommend car.

Southern Village - 3 miles from Business School - great for couple with kids,
shopping, movie theatre close by
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Patricia’s sources for checking off-campus housing locations:

Walk score: If you know a street address just type in the search field to see how it
compares and what is close by. http://www.walkscore.com/score/Franklin-StreetChapel-Hill-NC-27514

Map for apartment complex locations and closeness to shopping
centers: https://www.google.com/maps/d/edit?mid=zBXkiUNhpzzs.khujR6rZDLsA
&usp=sharing
3. Housing offer from full-time MBA students: For example, apartment and a car combo was
available for exchange duration from full-time MBA student who went for exchange himself.
These alternatives will be available for you and Patricia will send information via email.
2.3 Mandatory health insurance
Health insurance is mandatory at UNC Kenan-Flagler. I bought Finnish insurance and got it
waivered without any issues at UNC. When you are buying your insurance, make sure to tell
your insurance company that you need summary of the insurance in English because some
companies might not offer this service. In addition, make sure to communicate required terms to
the insurance company so you don’t need to adjust insurance process at any times. Getting
Finnish insurance saved me ~600€ and it also included insurance for luggage. UNC KenanFlagler insurance is with Blue Cross and I heard mixed feelings about this insurance. Some said
that doctor visits very extremely long and comprehensive and everything was perfect. Some said
that they were just asked to meet some other specialists that was not covered by the insurance as
well as I heard that one of my friends had to also pay for getting stiches.
All students must complete the Immunization Record and Medical History Form online. If you
do not have records of childhood immunizations, you can get all shots done at UNC Hospital for
a special fee (not for free). TB Skin Test needs to be done in the US but some European
countries (Finland included) are exempted from this test.
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3 Exchange life
3.1 Exchange duration
Spring 2016 exchange duration: 7th January – 5st May 2016. Move in and move out dates for
campus housing: 1 January – 31 May.
3.2 UNC Campus
UNC campus is really comprehensive and almost everything is available for free. For example,
following activities are available for free: two gyms, climbing walls, group exercise sessions,
individual and team sports teams with free usage of indoor and outdoor fields, sports equipment
for use (e.g. basketballs, footballs, tennis rackets, badminton rackets etc.). For example, I played
with UNC MBA soccer team and in intermural futsal league with undergrads and other MBA
exchange students.
Business building is ~25min walking distance away from Franklin Street where all restaurants
and bars are. In addition, most of the sport facilities and other important areas are close to
Franklin street. Therefore, you should consider finding accommodation either close to Business
Building or Franklin Street. Both alternatives have pro’s and con’s but make sure you are close
to one of these places.
3.3 MBA Exchange buddy program
Few weeks before exchange, Patricia sent email regarding buddies. You filled your professional
and personal interests and UNC matched you to a full-time MBA student with as close
preferences as possible. For example, my buddy picked me up from airport and helped me with
checking in to the apartment. We also had dinner and he drove me to a grocery store. This was
really nice and helpful for the first day of exchange. Buddy was also really convenient for some
questions related to course selection and other issues before the exchange.
3.4 Opening a bank account
I opened bank account to Wells Fargo bank during the second week of studying. Make sure to
ask Wells Fargo for exact bank details for international transfers – their normal information
package only included transfers within United States. Overall, opening bank account was really
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simple and only your passport was required for opening the account. Wells Fargo doesn’t charge
any service fees from UNC students and your debit card is integrated into your student card.
However, different from Finland, if your balance becomes negative, your card still works but
bank will charge you special fee per every charge. Therefore, make sure your balance always
stays positive.
3.5 Food in Chapel Hill
There are few food halls at UNC campus. They cost $12 each time or you could buy meal plan
for the whole exchange. At least during 2016, meal plans were really expensive and therefore it
would have not made any sense to buy one for the exchange (food plans would also limit
yourself to eat always at food halls which would be bad because it was common to go out for
dinner in larger groups). There were large variety of food and deserts in the food halls – they
were buffet style and people tend to study there especially during exam periods (and save money
by entering early and staying there for a long time). Most of the food at halls was unhealthy,
including pizza, fried chicken, hamburgers and large varieties of desserts. However, there was
also fruits, salads and soups that were healthier.
Other alternative is eating out at Franklin Street or other nearby areas. There were many good
restaurants nearby – selection was decent especially for semester long exchange.
Campus housing where we lived had good kitchens so exchange students prepared their food
most of the time at home. You should try out all local grocery stores at the beginning of
exchange so you will find your favourite. In 2016, most of the exchange students started with a
trip to Walmart to buy all necessary items as well as food. However, after the first trip, most of
the people started doing grocery shopping at Harris Teeter. During the end of the exchange,
many people had switched to Food Lion as well. On top of these retailers, you should also check
out at least Wholefoods – it is expensive but at the same time probably the nicest grocery stores
nearby.
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3.6 Travelling during the exchange
You generally should buy flight tickets as early as possible from Helsinki to RDU (RaleighDurham International Airport). I paid ~€600 for roundtrip and I booked tickets in November.
One of my flights was only with one connecting flight and the second had two connecting
flights. You usually fly thorough New York but there are also straight flights from London and
Paris to RDU.
During the exchange, you should travel around United States. During our road trips, we visited
places such as Richmond, Virginia Beach, Washington DC, Philadelphia, Charleston, Charlotte,
Outer Banks, Savannah and Myrtle Beach. During our 2-week-long Spring Break in the middlepoint of our exchange, we went to Cancun, Mexico and San Francisco with our exchange friends.
You also can travel during the semester: professors usually allow missing 2 lectures per module
(e.g. classes for 1 week, always discuss this with your professors beforehand). Therefore, I did a
weeklong trip to Miami Beach during the Module 3 and weeklong trip to New York during
Module 4. Also, you should consider visiting places such as Atlanta, Chicago, Nashville and
New Orleans.
3.7 Tar Heels sports culture
Students are very proud of their school and people take college sports very seriously. For
example, “Tar Heels” basketball got to national championship final in 2016 and it was really
amazing to experience. Atmosphere was even more emotional than during World Championship
ice hockey Finland – Sweden final game. It is common to see huge parties at Franklin Street with
burning sofas after winning important games, e.g. games against Duke or important games
related to national championships.
Tickets to UNC basketball games are free – make sure you participate on-time to online raffles.
In addition, you usually can enter basketball games even without tickets if the game is not really
important – just go to the stadium and ask people. We tried this once and after asking few people
we were connected with one girl who had 50+ tickets and we got free tickets. These tickets are
un-used tickets that had been given out in online raffles. However, exchange students did not win
any tickets to the most wanted game, UNC – Duke, mostly because each UNC full-time student
is promised one free ticket to this special game. Tickets for UNC – Duke game cost $300+ and
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all bars are full that day. Make sure to go watch important games early enough at some bar in
Franklin street since bars will be full even hours before the game.
3.8 Weather in Chapel Hill
Weather was nice and warmer that I had expected during the Spring semester. However, weather
was very unpredictable since there were even 10-15 Celsius degree differences between days in
the same week. For example, last Christmas was extremely hot in Chapel Hill with 20+ Celsius
degrees while during February 2015 there was winter storm with over 10 cm of snow. In 2016,
there were few snowy days and school was cancelled those times.
4 Courses available for MBA Exchange students
UNC requires you to take 3 classes and 4.5 credits per module. At the same time, there is no
maximum amount of credits that is allowed to study but 12 credits are required from the whole
exchange by Aalto (6 credits per module). Typically, MBA students take 4-5 classes per
module. One class has usually 20 in class contact hours and 30 non class contact hours.
Courses are often case based and require group meetings, attendance, etc. Semesters are
divided to modules: Module 1 and 2 are during Fall semester and Modules 3 & 4 are during
Spring semester. Surprisingly many exchange students were required to study only 9 credits (3
courses per module) and all students I talked to get better exchange rate from UNC credits to
home credits (most students got ~2.5 ECTS per UNC credit).
Studying 12 credits per semester would be tough if you only chose finance classes or classes
that are known for their high workload. However, with non-finance classes (and especially with
weekend classes) the workload was clearly lower than within finance studies at Aalto
University. Therefore, with right course selection, you will have a lots of free time to explore
North Carolina and other states in United States.
Overall, I was really impressed about the courses I took as well as of the courses available to be
chosen. All my courses (expect Financial Modelling) had class size of 15-30 students and class
discussions were really engaging. Courses grades were following: fail, low pass, pass, high pass.
High passes were given to 15-35% of students, depending on professor. Low-passes and fails
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were given only when professor though it was necessary – this usually happened with students
who failed to complete assignments or failed to attend classes.
According to honour code, everybody was required to buy course packages if it was available for
the class. Course packages included cases and articles and it cost usually between $20-$130 per
course. For example, I spent ~$300 for all 8 courses I had.
Evaluation of courses:
Sales
Instructor: Dave Roberts, Medium workload, 2 credits, Mod 3
Grading 3/3
This course included 2-day weekend workshop on SPIN selling on top of the regular two classes
per week. This was clearly the best university course I have ever had in my life. Professor was
amazing and he was talking about really relevant areas within sales and in corporate life overall.
This course included 3 written case-ups and a sales simulation as a final exam which tested how
you are able to use learned skills in real life. This course mainly focused on consultative sales,
e.g. how salesperson can create value to the buyer instead of just “selling” services or items as
how it is usually perceived. Professor also included few classes on politics which I specifically
enjoyed.
Negotiation
Instructor: Noah Eisenkraft, Low workload, 1.5 credits, Mod 3
Grading 3/3
Weekend course with 3 full day classes (Friday – Sunday). Days went fast and since we had
multiple negotiations every day and they were really interesting and fun. Between negotiations,
we were taught tactics and theory behind negotiation and then we applied what we had learned in
our negotiations. We had individual real-life negotiation as a homework (25% of grade) and
group research project (25% of grade) where each team member interviewed some professional
negotiator and where we summarized what key-takeaways can be learned from the chosen area
of negotiations.
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Consumer Behavior
Instructor: Claudia Carolyn Kubowicz, Medium workload, 1.5 credits, Mod 3
Grading 2.5 / 3
Lectures twice a week. This course had great guest lecturers from different industries, including
retired guy from Coca Cola and the president of a Nascar race driving team. You were also
required to read multiple Harvard cases and other additional readings to be ready for the class
discussions. This course had a take home-exam which was individual 10-page write-up which
had 5 pages on food retailing in USA and 5 pages on what should Walmart do to grow their
business.
Decision Making in Energy Industry
Instructor: Philip Rogers, Low workload, 1.5 credits, Mod 3
Grading 2 / 3
Weekend course with 3 full day classes (Friday – Sunday). Professor shared interesting tips for
problem solving using excel as well as he shared interesting war stories from his own significant
experience from energy industry. During this course, I learned how to use solver more efficiently
as well as how to use Palestine excel add on. This course could have been taught in a faster
tempo: especially during day 2, I got a little bit frustrated for class moving too slowly.
Financial Modelling
Instructor: Scott Rostan, Low workload, 1.0 credits, Mod 4
Grading 2 / 3
Lectures only once a week. Course had on-class closed book final exam and a fairly small group
project. If you have done management consulting or / and investment banking internships, this
course is not that useful because this course assumes that you have not used excel before.
However, if you are not confident with excel – this is a great course for you. This course was
taught by former investment banker and current CEO of Training the Street company who is
hired by leading investment banks to train their new recruits how to use excel. Professor is great
but this course itself was on too basic level for my personal needs.
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Strategic Economics
Instructor: David Dicks, Medium workload, 1.5 credits, MOD 4
Grading 3/3
Lectures twice a week. You were required to solve assignment of the day and return it to each
class of the module. Course had both mid-term and final exams but final exam grade could be
used to replace mid-term grade. Professor was really enthusiastic and good. This class was about
game theory and it was one of the coolest and most useful courses that I’ve studied so far. This
course developed thinking and understanding on how to take into account other people’s
responses to your own actions. For example, this thinking could have prevented many price wars
within different industries as well as it helped realizing how incentives should be used in many
business decisions.
Cross-cultural Competency
Instructor: Tim Flood, Low workload, 1.5 credits, Mod 4
Grading 2/3
Weekend course with 2 full day classes (Friday – Saturday). Weekend included various
discussions, group work and interactive tasks. We prepared and presented (10min presentation
following 5min Q&A) UNC Kenan-Flagler advertisement in teams and this advertisement was
targeted to people with different cultural background. We also completed personal CultureActive
test that revealed what kind of cultural profile you have. In addition, this framework (combined
with database of different country profiles) is supposed to help people to adjust their behavior
when working with different kind of people. Course had a take-home assignment where we
virtually completed several assignments (case write-up, video and factsheet) from country that
was assigned to teams by our professor. Take-home assignment was presented virtually to other
groups at the end of the semester.
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Corporate Strategy
Instructor: Patia McGrath, Medium/high workload, 1.5 credits, MOD 4
Grading 2.75/3
Lectures twice a week. Small case-write up (max 1 page) required to be sent before each class.
For every class, additional reading was also assigned. Professor had been executive in GE and
she got her MBA from Harvard. Professor structured class discussion really nicely and kept class
discussions in relevant areas. Due to mandatory case-write ups, students were well prepared for
each class and this was clearly seen from class discussions. We also had group project with
work-in-progress project presentation where we received feedback from other students on how to
continue working on our final project.
5 Ending notes
I would highly recommend UNC Kenan-Flagler for your exchange destination since it is
amazing opportunity to experience one of the top MBA programs in United States. I was really
impressed from their course offering and their professors and I learned valuable real-life skills
such as how to do sales or negotiations in different situations as well as how you should take into
account politics during different times of your career. These academics combined with great
people, campus and atmosphere made UNC an ideal place for my master’s level exchange.
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