The W. P. Carey School of Business’ Executive Masters of Business Administration program in China made England’s Financial Times list of top 50 EMBA programs in the world for the second year in a row.

The new rankings were announced Monday as part of the Times’ ongoing global business school ranking system. ASU moved from 42 in 2008 to 41 in 2009 in the rankings released Monday focused on EMBA programs, which are designed to give executives the opportunity to continue their education through a part-time program.

This year’s rankings are based on a survey of 2006 graduates asking how the program has impacted their careers since graduation, according to the Times’ Web site.

W. P. Carey Dean Robert Mittelstaedt said much of the school’s success comes from its ability to attract high-quality students.

“It’s very unusual to see such high-ranking senior students in a program like this,” Mittelstaedt said. “The students are very demanding — we knew that going in, and we tailored our program to that.”

In six short years, the program has grown to be a huge success, said the school’s finance department chair Jeffrey Coles. The list of alumni includes the China’s former Vice Minister of Finance and current mayor of Shanghai.

“We manage to attract fantastic students,” Coles said. “Could you imagine teaching the head of the SEC or the head of the Federal Reserve?

These are the kinds of students we’ve been teaching [in China].”

The department’s emphasis on finance and accounting, which are becoming increasingly important in China’s rapidly-privatizing economy, has been the key in attracting elite students, Coles said.

“As you reduce state ownership and state protection, [Chinese] enterprises are going to be exposed more and more to global economic forces, which means Chinese executives need to be exposed to education in accounting and finance,” Coles said.

Buck Pei, dean of the program, could not be reached for comment but released a statement Monday stating the faculty also contributed to the school’s reputation.

“We probably have the most exciting faculty lineup and the most prestigious EMBA program overall in China because we have students who are senior-level executives and government officials in charge of policymaking that can influence millions of people,” Pei said.

Reach the reporter at derek.quizon@asu.edu.