FORTUNE -- Last year, New England College in Henniker, N.H., welcomed the first students into its dedicated MBA in Digital and Social Media. Among the first of its kind, the two-year program -- with classes on everything from the psychology of social media to digital marketing -- set out to train the next generation of social media managers and professionals for a brave new marketplace.

Whether their positions will still exist by the time they graduate in 2014 is anyone's guess.

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