It was just 15 years ago that the voices of outraged dons reverberated through the corridors of the University of Oxford, in protest at the mere thought that the ancient institution would have a business school. Now, it seems, departments are lining up to take advantage of a scheme for their students to learn about business.

The university is in the final stage of approval of a “1+1” programme, which will enable students to study an Oxford specialist master's degree and an MBA in two years. It is all part of the strategy of Peter Tufano, Sa?d Business School’s newly appointed dean, to enable the school to take on the big guns in the US, including Wharton and Harvard, Prof Tufano’s alma mater.

The scheme is not only remarkable for the speed of implementation – the departments involved hope to enrol students in 2012 – but because it embodies two of the most fashionable themes in business education: an interdisciplinary approach to business and a flexible approach to study.