While applications to MBA programs have historically run counter-cyclical to economic conditions (applications are up during periods of uncertainty and down in good times), this doesn't seem to be the case in the current downturn. According to data released by the Graduate Management Admission Council, applications to full-time, two-year MBA programs were down this year by 9.9 percent from 2010. Worldwide, 63 percent of programs reported a decline in applications received in 2011, compared to 47 percent reporting declines in 2010.
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