DailyBrief: US MBA losing its spark? And why the US may see a Republican President soon

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Market Watch

• Indian benchmark indices ended the day flat with the Sensex up 33.21 points at 64,975.61 and Nifty gaining 36.80 points to close at 19,443.50.
• All sectors barring IT and Banking (marginally down), ended the day in the green.

US MBA losing its spark? Top-ranked MBA programs struggle to reverse declining applications

Top-ranked MBA programs in the US have seen a consistent decline in applications since at least 2017, with a notable drop even after a temporary increase during the pandemic years, according to reports.

• Full-time MBA enrollment has slightly decreased at top-ranked schools, contrary to a general increase across a broader range of U.S. business schools.

Yes, but: While domestic applications have declined, there has been an increase in international demand, with some schools seeing international applicants comprising 60% to 90% of their total applications.

• This is because schools are strategically increasing international student enrollment to maintain class sizes, despite the challenges these students may face in the U.S. job market.

Why is this happening? A strong U.S. economy and employment rebound post-2020 layoffs may have contributed to the decline in applications, as potential students chose to remain in their jobs.

• Online and specialized master’s programs in fields like finance and business analytics may be diverting potential students from traditional MBAs.

However, the recent polarization across campuses in the US is also a factor that may contribute to the problem going forward.

• Alumni of top schools in the US have written to their Alma Maters demanding an end to “wokeism” on campuses. They highlighted the recent pro-Palestine protests on campuses which eventually turned anti-Semitic as particular problem areas which schools had to rectify.

The bottom line: With reduced domestic admission numbers, and sky-high fee structures, these schools will have to work much harder to market their brand to international students.

Hi, I’m Gaurav Jeyaraman, the editor of this newsletter. We’d like to hear some feedback on our newsletter: what works and what doesn’t work? WhatsApp me directly and tell me what you think.

Polls show Trump narrowly leading Joe Biden in hypothetical rematch

A recent CNN poll shows former President Donald Trump leading President Joe Biden in a hypothetical 2024 rematch, with Trump securing 49% of the support among registered voters compared to Biden's 45%.

• Just a quarter of Americans (25%) say Biden has the stamina and sharpness to serve effectively as president, while 53% feel Trump does.
• 61% of all Americans say Biden is more a part of the problem, compared to 57% who think that Trump is.

Joe Biden losing: The poll suggests Biden's support has significantly weakened among key demographic groups that were critical to his 2020 election win, particularly among younger voters, independents, and voters of colour.

• This is mainly due to the Biden administration’s ambiguous approach to the Israel-Palestine conflict.
• Biden's approval rating stands at a paltry 39%, with 61% of those polled disapproving of his performance - a trend that is worse than most modern presidents at the same point in their reelection bids.
• Biden's support also falls short in matchups with other potential rivals, including former South Carolina Governor Nikki Haley and Florida Governor Ron DeSantis.

The big picture: Primary matchups for both parties suggest a Biden vs. Trump election is the most likely scenario as of now.

• Trump holds 61% to DeSantis’ 17% and Haley’s 10% on the GOP side, with no other candidate in double digits among Republican-aligned voters.
• Biden holds 71% support among Democratic-aligned voters compared to Minnesota Rep. Dean Phillips’ 11% and author Marianne Williamson at 8%.

However, despite Trump's slight edge over Biden, both candidates have unfavourable ratings among the public, with 56% unfavourable for Trump and 59% unfavourable for Biden.

ICYMI

• BJP MP Nishikant Dubey says that the Lokpal anti-corruption body has ordered a CBI probe into corruption allegations against TMC MP Mahua Moitra.
• New emails reveal that the Department of Homeland Security (DHS) set up a Stanford University “disinformation” group, called the Election Integrity Partnership (EIP), to censor speech just before the 2020 election.
• China has emerged as the world's largest official debt collector, with over $1 trillion owed to it through its Belt and Road Initiative (BRI).
• Bihar’s Nitish Kumar has issued an apology over controversial comments made about women's education and its role in population control, which were described as “vulgar” and “derogatory” by the opposition.
• The Aligarh Municipal Corporation passed a unanimous resolution to rename Aligarh to Harigarh.
• Who’s going to take the last open spot for the semi-finals of the 2023 ODI World Cup?
• Has Dior replaced Bella Hadid with an Israeli model?