Trump wisdom on offer at $300

There isn't much New York real-estate magnate Donald Trump doesn't know about business - and now he wants to share his knowledge through a virtual university.

His latest venture is named, of course, Trump University. It enters a crowded field of online business education with a unique selling point that relies on undercutting prices and a learning process that relies heavily on peer review. A third of students who have inquired about enrolment live outside the US.

"At its core, Trump University is an attempt to offer the finest business knowledge at affordable prices to busy people seeking to get ahead in their careers," said Mr Trump, who is funding the university himself and expects it to turn a profit this year.

"The people who enrol might not have the time to take classes in a traditional setting, or they may be unable to make the financial commitment required," he added.

The university is certainly non-traditional. It has no classes, few teachers and offers no degrees. It has only three courses: real estate, marketing and entrepreneurship. Three more are planned.

Students will complete assignments and exchange them with classmates to review. They can also submit questions to Mr Trump or to a handful of business professors from Dartmouth, Columbia and other mainstream US universities.

Courses cost $300 (£165), with a money-back guarantee. There are plans for international expansion. The target audience, the university says, is small-business owners, entrepreneurs and other mid-career professionals.

"People are looking beyond the traditional business education model, which involves hours in the classroom and relies primarily on book learning," Mr Trump said. "People need education fast, and it has to be practical, something they can apply immediately to real-world business problems."