Future international students will pay $55,200, a 20% increase, to undertake a University of Otago master of business administration degree, reflecting its top ranking among New Zealand MBAs.
The Otago University Council this week decided the new fee would be effective immediately.
The fee increase, from the previous $45,776, will not apply to any international student "already enrolled in, or formally committed to enrolment in", the domestic New Zealand-based MBA programme.
Otago Business School dean Robin Gauld said the Otago MBA had "fallen below other New Zealand MBAs in terms of pricing and well below competitors in the international market".
Despite costing less, the Otago MBA was "ranked significantly higher than any other New Zealand MBA globally".
The Otago MBA had been ranked ninth in Oceania in the latest international QS MBA rankings, and was "the only New Zealand MBA to be included in this list".
Auckland charged $72,000 for its MBA course, Massey $59,790 and Waikato $60,190.
The full-time Otago MBA is a two-phase programme which can be completed in 15 months to two years depending on the elective choices in the second phase.
Otago University would have 25 MBA students on campus this year, including 14 international students, a university spokeswoman said.