LIM College, which specializes in the business of fashion and its adjacent fields, is launching a Master of Professional Studies degree in the business of cannabis.
The college recently received authorization from New York State to offer this first of its kind program. The inaugural class will start in September.
In October, LIM became the first college in the U.S. to offer a Bachelor Business Administration degree program focused on the business side of the cannabis industry, as reported. The inaugural class of first-year and transfer students will enter this fall.
The MPS program will be delivered entirely online and can be completed in one calendar year. It is designed for career-changers as well as those who are interested in advancing their current cannabis-related careers. Courses will be taught by professionals currently working in the cannabis industry.
Coursework will entail retailing, social and economic justice, marketing, supply chain and regulatory compliance. Master’s degree candidates will also complete a capstone project, where they will develop a formal plan for a cannabis business and pitch it directly to industry professionals.
“We developed the master’s program in the business of cannabis with tremendous input from industry professionals. The know they type of knowledge and skills cannabis employers are seeking in job candidates. Earning an advanced degree in the business of cannabis will prepare graduates to take on leadership and management roles in one of the fastest-growing industries in the United States,” said Elizabeth Marcuse, president of LIM College.
According to the consumer analytics firm Headset, the cannabis market has the potential to reach $45.8 billion in the U.S. by 2025, with New York State projected to be the third-largest market in the nation. Globally, the market could reach $102 billion by 2026, according to Prohibition Partners. Full-time jobs in the U.S. cannabis industry expanded 32 percent to 321,000 in 2020, according to the 2021 Leafly Jobs Report.
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