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University of Chicago Booth School of Business

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University of Chicago Booth School of Business
NameUniversity of Chicago Booth School of Business
CaptionThe Charles M. Harper Center in Hyde Park, Chicago
Established1898
TypePrivate business school
DeanMadhav Rajan
ParentUniversity of Chicago
CityChicago, Illinois
CountryUnited States
CampusesHyde Park (Chicago), London, Hong Kong
Websitehttps://www.chicagobooth.edu/

University of Chicago Booth School of Business. It is the graduate business school of the University of Chicago, founded in 1898 as the College of Commerce and Politics, making it the second-oldest business school in the United States. The school is renowned for its foundational contributions to economics and finance, particularly through the Chicago school of economics, and for its rigorous, discipline-based approach to business education. It offers a full-time MBA, an executive MBA program, and a Ph.D. program across campuses in Chicago, London, and Hong Kong.

History

The institution was established in 1898 with a gift from John D. Rockefeller as the College of Commerce and Politics at the nascent University of Chicago. Under the leadership of its first dean, Edmund J. James, it pioneered the world's first executive education program and the first Ph.D. program in business. A pivotal figure in its development was James Laughlin, who helped shape its early economic focus. In 1916, the school awarded the first Ph.D. in business to Arthur H. Cole. The school's identity became inextricably linked with the Chicago school of economics, profoundly influenced by faculty like Milton Friedman, George Stigler, and Gary Becker, all Nobel laureates. It was renamed in 2008 following a $300 million gift from alumnus David G. Booth, co-founder of Dimensional Fund Advisors.

Academics

The academic philosophy emphasizes a discipline-based approach rooted in the foundational concepts of economics, psychology, statistics, and the social sciences. The core MBA curriculum is known for its flexibility, requiring only one foundational course in each of these areas. The school offers a full-time MBA program, an executive MBA program spanning its three campuses, and a highly selective Ph.D. program. Distinctive programs include the Harry L. Davis Center for Leadership and the Polsky Center for Entrepreneurship and Innovation, which oversees the New Venture Challenge. The school also grants a Master of Science in Analytics and various non-degree executive education certificates.

Campuses and facilities

The school operates three permanent, global campuses for degree programs. The primary campus is the Charles M. Harper Center in Hyde Park, designed by architect Rafael Viñoly and opened in 2004. The London campus is located in the City of London at One Bartholomew Close, near the Bank of England. The Asian campus is situated in the Mount Davis area of Hong Kong. Each campus features state-of-the-art trading rooms, behavioral labs, and collaborative spaces. The school's Gleacher Center in downtown Chicago serves as a hub for its executive MBA program and executive education.

Notable faculty and alumni

The faculty is distinguished by its scholarly impact, having produced ten Nobel laureates in Economic Sciences, including Eugene Fama, Lars Peter Hansen, Richard Thaler, and the late Merton Miller. Other eminent scholars include Steven Levitt, co-author of Freakonomics, and former dean Edward Snyder. Its alumni network of over 56,000 includes leaders in finance, such as Satya Nadella of Microsoft, Jon Corzine former CEO of Goldman Sachs, and Peter Peterson, co-founder of The Blackstone Group. Notable graduates in government include Rahm Emanuel, former White House Chief of Staff, and Suzan DelBene, a U.S. Representative.

Research and centers

Research is central to the school's mission, characterized by empirical, data-driven analysis that challenges conventional wisdom. Key research institutes include the Becker Friedman Institute for Economics, the Fama-Miller Center for Research in Finance, and the Kilts Center for Marketing. The Energy Policy Institute at the University of Chicago and the Rustandy Center for Social Sector Innovation address applied policy and social impact. Faculty research has fundamentally shaped modern finance through the efficient-market hypothesis and behavioral economics, with work regularly featured in journals like the Journal of Political Economy.

Rankings and reputation

The school is consistently ranked among the top business schools globally. Its MBA program is perennially placed in the top five by publications such as U.S. News & World Report, the Financial Times, and Bloomberg Businessweek. It is particularly renowned for its strength in economics and finance, often ranking first for specialties in these areas. The school's executive MBA program is also highly ranked. Its reputation is built on a legacy of academic rigor, influential scholarly output, and a powerful global network of alumni in leadership positions across corporate finance, investment management, and entrepreneurship.

Category:University of Chicago Category:Business schools in Illinois Category:Educational institutions established in 1898