I only know its physics dept was considered as the last in Canada a few years ago. Not quite sure about MBA. Please check Canada Businness Magazine. You can find the Rank of MBA program and find some school outside Ontario is very good but may not be that competitive to get in.
URL: http://www.canadianbusiness.com/xta-asp/storyview.asp?nav=file&viewtype=browse&tpl=browse_frame&vpath=/2001/11/12/Feature/41082.html
URL: http://www.canadianbusiness.com/xta-asp/storyview.asp?nav=file&viewtype=browse&tpl=browse_frame&vpath=/2001/11/12/Feature/41082.html