I was looking at that program also and would like to hear from others.  I just completed my MPA from USC.  I thought the MAPEB offered better analytical and practical skill sets than the MPA, which has advantages in the workplace.  I also like how the MAPEB has different tracks (Risk Management, Financial Policy, Public Policy etc.).   
  
My concern is it does not appear that there is a program administrator that runs this actual degree.  Rather CGU lumps various courses and churns out a sexy title for a degree: Master of Politics, Economics, and Business.  If you look at the courses in the degree program, there is no politics course and only one economics course.  It's like 75% business.  So I don't think it gives the politics and economics discipline any justice by awarding this degree.  But I could be wrong! 
  
Overall, I feel CGU is small and from what I've seen on this board lacks student funding, which is crucial for Grad School.  Also, I really can't find anyone who graduated from this program, which is an ominous sign. 
  
I live near the campus so it would be ideal to attend here.