The University of Miami is set to launch its first fully-online Master of Business Administration (MBA) program, school officials announced Tuesday.

The university's School of Business Administration will expand its online master's degree offerings with a MBA program. First classes will begin in September 2015.

"The launch of our Online MBA program represents our commitment to developing innovative programs that enable busy professionals to earn a business degree from the University of Miami no matter where they live and work," Gene Anderson, dean of the University of Miami School of Business Administration, said in a statement. "Like our other fully-online programs, this new offering provides participants with a rigorous, yet flexible, curriculum that is taught by the same world class professors who teach our on-campus programs."

Like the school's existing on-campus Professional MBA program, the fully-online MBA program will offer a "challenging curriculum" focused on global strategic thinking and analysis. The program will be the third fully-online master's program to be launched by the School in 2015, following master's programs in finance and accounting.

Participants in the program will also have to take one elective course.

"The course can be taken online or during a one-week residency on the School's main campus in Coral Gables, Fla.," school officials said. "An optional on-campus orientation at the beginning of the program is also offered."

The university is now accepting applications for the online MBA program.