Hamline University has entered into the business world – the business-school world that is.

Hamline University launched its new School of Business last week, a move which adds another player in the Twin Cities business-school market.

Hamline School of Business Dean Julian Schuster said the move to open a business school will be a benefit for Hamline.

“This is going to have an excellent effect on Hamline,” he said. “We have always had a long-standing tradition of being a liberal arts college, and now we’re moving away from that as to provide for the business- oriented.”

Previously, Hamline University offered an undergraduate program in economics and a graduate program in business administration.

“It just seemed natural to combine the two,” Schuster said.

The new business school will offer undergraduate degree programs in business administration and economics with concentrations in finances, management, marketing, general business and international business.

The graduate programs include business administration, public administration and nonprofit administration.

Schuster said the business administration program will be the “backbone” of the curriculum.

Students who wish to enter the business school will be required to pass Hamline’s general admission requirements.

“Right now, we’re very selective and we’re going to continue to follow that path,” Schuster said.

With a new business school in the Twin Cities, there’s a possibility of competition between schools.

Hamline joins the ranks of other Twin Cities business schools, including Carlson School of Management and St. Thomas’ Opus College of Business.

Carlson ranked 27th in the U.S News and World Report’s most recent annual rankings, but Schuster said he isn’t looking to compete with other established schools.

“What we want to do is continue to self-improve,” Schuster said.

Carlson school representatives didn’t return phone calls regarding the new Hamline business school.

Several University students said they don’t see Hamline’s business school as much of a competitor for Carlson.

First-year business student Eric Semborski said it would be really tough to consider going anywhere else besides Carlson.

“A lot of it is for its reputation and also just because it’s part of the University of Minnesota,” he said.

Fellow first-year business student Brian Johnson also said reputation makes all the difference when deciding on business schools.

“I’d probably rather go somewhere that has a reputation or a track record,” he said. “I have nothing to compare (Hamline’s business school) to.”

Schuster said Hamline will look at ways to improve the business school so it can cater to as many students as possible.

“Our school is going to be mission-driven and market-centered,” he said.