The University of Chicago Booth School of Business (Chicago Booth or Booth) is the graduate business school of the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...

. Founded in 1898, Chicago Booth is the second-oldest business school in the U.S. and is associated with 10 Nobel laureates in the Economic Sciences, more than any other business school in the world. The school has the third-largest endowment of any business school. Notable Chicago Booth alumni include

James O. McKinsey James Oscar McKinsey (June 4, 1889 – November 30, 1937) was an American accountant, management consultant, professor of accounting at the University of Chicago, and founder of McKinsey & Company.Flesher, Dale L. and Tonya K. Flesher.McKinsey, ...

, founder of

McKinsey & Company McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and ...

; Susan Wagner, co-founder of

Blackrock BlackRock, Inc. is an American Multinational corporation, multi-national investment company based in New York City. Founded in 1988, initially as a Enterprise risk management, risk management and fixed income institutional asset manager, BlackR ...

; Eric Kriss, co-founder of

Bain Capital Bain Capital is an American private investment firm based in Boston. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, and real estate. Bain Capital invests across a range of industry se ...

; Satya Nadella, current CEO of

Microsoft Microsoft Corporation is an American multinational technology corporation producing computer software, consumer electronics, personal computers, and related services headquartered at the Microsoft Redmond campus located in Redmond, Washing ...

; and other current and former CEOs of Fortune 500 companies such as

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Booz Allen Hamilton Booz Allen Hamilton Holding Corporation (informally Booz Allen) is the parent of Booz Allen Hamilton Inc., an American management and information technology consulting firm, headquartered in McLean, Virginia, in Greater Washington, D.C., with 8 ...

Cargill Cargill, Incorporated, is a privately held American global food corporation based in Minnetonka, Minnesota, and incorporated in Wilmington, Delaware. Founded in 1865, it is the largest privately held corporation in the United States in ter ...

Chevron Chevron (often relating to V-shaped patterns) may refer to: Science and technology * Chevron (aerospace), sawtooth patterns on some jet engines * Chevron (anatomy), a bone * '' Eulithis testata'', a moth * Chevron (geology), a fold in rock ...

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Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

, IBM,

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

, Morningstar,

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, and

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History

The University of Chicago Booth School of Business traces its roots back to 1898 when university faculty member

James Laurence Laughlin James Laurence Laughlin (April 2, 1850 – November 28, 1933) was an American economist and Professor at Cornell University, Harvard University, and the University of Chicago, who helped to found the Federal Reserve System and was "one of the ...

chartered the College of Commerce and Politics, which was intended to be an extension of the school's founding principles of "scientific guidance and investigation of great economic and social matters of everyday importance." The program originally served as a solely undergraduate institution until 1916, when academically oriented research masters and later doctoral-level degrees were introduced. In 1916, the school was renamed the ''School of Commerce and Administration''. Soon after in 1922, the first

doctorate A doctorate (from Latin ''docere'', "to teach"), doctor's degree (from Latin ''doctor'', "teacher"), or doctoral degree is an academic degree awarded by universities and some other educational institutions, derived from the ancient formalism ''l ...

program was offered at the school. In 1932, the school was rechristened as the ''School of Business''. The School of Business offered its first

Master of Business Administration A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

(MBA) in 1935. A landmark decision was taken by the school at about this time to concentrate its resources solely on graduate programs, and accordingly, the undergraduate program was phased out in 1942. In 1943, the school launched the first

Executive MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accoun ...

program. The school was renamed to ''Graduate School of Business'' (or more popularly, the ''GSB'') in 1959, a name that it held till 2008. That year alumnus

David G. Booth David Gilbert Booth (born 1946) is an American businessman, investor, and philanthropist. He is the executive chairman of Dimensional Fund Advisors, which he co-founded with Rex Sinquefield. Career Booth graduated from Lawrence High School in ...

gave the school a gift valued at $300 million, and in honor of the gift the school was renamed the ''University of Chicago Booth School of Business''. During the latter half of the twentieth century, the business school was instrumental in the development of the

Chicago School of economics The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigle ...

, an economic philosophy focused on free-market, minimal government involvement, due to faculty and student interaction with members of the university's influential Department of Economics. Other innovations by the school include initiating the first PhD program in business (1920), founding the first academic business journal (1928), offering the first Executive MBA ( EMBA) program (1943), and for offering the first weekend MBA program (1986). Students at the school founded the

National Black MBA Association {{advert, date=May 2014 The National Black MBA Association (NBMBAA) is a non‐profit organization founded in 1970 at the University of Chicago, dedicated to the enhancement and development of educational and economic empowerment for African Americ ...

(1972), and it is the only U.S. business school with permanent campuses on three continents: Asia (2000), Europe (1994), and North America (1898).

Campuses

In Chicago, the Booth School has two campuses: the Charles M. Harper Center in

Hyde Park Hyde Park may refer to: Places England * Hyde Park, London, a Royal Park in Central London * Hyde Park, Leeds, an inner-city area of north-west Leeds * Hyde Park, Sheffield, district of Sheffield * Hyde Park, in Hyde, Greater Manchester Austra ...

, which houses the school's full-time MBA and Ph.D. programs, and the Gleacher Center in

downtown Chicago ''Downtown'' is a term primarily used in North America by English speakers to refer to a city's sometimes commercial, cultural and often the historical, political and geographic heart. It is often synonymous with its central business distri ...

, which hosts the part-time Evening and Weekend MBA Programs, Chicago-based Executive MBA Program, and Executive Education courses. Chicago Booth also has a campus in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

, a short walk from

St Paul's Cathedral St Paul's Cathedral is an Anglican cathedral in London and is the seat of the Bishop of London. The cathedral serves as the mother church of the Diocese of London. It is on Ludgate Hill at the highest point of the City of London and is a Grad ...

, hosting the EMBA Program in Europe and Executive Education classes. Lastly, Chicago Booth has a campus in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

, located in the Hong Kong Jockey Club University of Chicago Academic Complex.

Academics

Chicago Booth offers Full-time, Part-time (Evening and Weekend) and Executive MBA programs. The university is also a major center for educating future academics, with graduate programs offering the A.M. and Ph.D. degrees in several fields. In addition to conducting graduate business programs, the school conducts research in the fields of

finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

economics Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and intera ...

quantitative marketing research Quantitative marketing research is the application of quantitative research techniques to the field of marketing research. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive ...

, and

accounting Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "languag ...

, among others.

Academic concentrations

Students in the Full-time MBA, Executive MBA, and Part-time MBA programs can concentrate in one or more of 14 areas, although some concentrations' required coursework may necessitate schedule modifications for students enrolled in the part-time program.

Honors

Chicago Booth grants "High Honors" to the top five percent of the graduating class and "Honors" to its next 15 percent, based on GPA averages of all MBA graduates from the previous academic year.

Research and learning centers

The school promotes and disseminates research through its centers and institutes; the most significant ones are: *Accounting Research Center *Applied Theory Initiative * Center for Decision Research *Center for Population Economics *

Center for Research in Security Prices The Center for Research in Security Prices (CRSP) is a provider of historical stock market data. The Center is a part of the Booth School of Business at the University of Chicago. CRSP maintains some of the largest and most comprehensive proprieta ...

*Chicago Energy Initiative *Fama-Miller Center for Research in Finance *

George J. Stigler George Joseph Stigler (; January 17, 1911 – December 1, 1991) was an American economist. He was the 1982 laureate in Nobel Memorial Prize in Economic Sciences and is considered a key leader of the Chicago school of economics. Early life and e ...

Center for the Study of the Economy and the State *

Initiative on Global Markets The Initiative on Global Markets (IGM) is a research center at the University of Chicago Booth School of Business in the United States. The initiative supports original research on international business, financial markets, and public policy. The I ...

*Michael P. Polsky Center for Entrepreneurship and Innovation *The

Becker Becker () is one of the German-language surnames, along with Bäcker and Baecker, that derive from the root, which refers to baking. The surname began as a name for a baker (and thus his family). In northern Germany it can also derive from the ...

Friedman Friedman, Friedmann, and Freedman are surnames of German origin, and from the 17th century were also adopted by Ashkenazi Jews. It is the 9th most common surname in Israel (8th among Jews) and most common exclusively Ashkenazi name. They may refer ...

Institute for Research in Economics *

James M. Kilts James M. Kilts was a chief executive officer of The Gillette Company. He negotiated the sale of the company to Procter & Gamble for US$57 billion. Press investigators estimate that he stood to gain more than $165 million personally in the purchase. ...

Center for Marketing *Rustandy Center for Social Sector Innovation

Rankings

Chicago Booth was ranked No. 2 by Poets & Quants in their 2021-2022 annual MBA rankings.

People

Faculty

The Booth school has 177 professors, and includes Nobel laureates

Eugene Fama Eugene Francis "Gene" Fama (; born February 14, 1939) is an American economist, best known for his empirical work on portfolio theory, asset pricing, and the efficient-market hypothesis. He is currently Robert R. McCormick Distinguished Servic ...

and

Richard Thaler Richard H. Thaler (; born September 12, 1945) is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was p ...

and

MacArthur Fellow The MacArthur Fellows Program, also known as the MacArthur Fellowship and commonly but unofficially known as the "Genius Grant", is a prize awarded annually by the John D. and Catherine T. MacArthur Foundation typically to between 20 and 30 ind ...

Kevin M. Murphy Kevin Miles Murphy (born 1958) is the George J. Stigler Distinguished Service Professor of Economics at the University of Chicago Booth School of Business and a Senior Fellow at the Hoover Institution. In 1997 Murphy was awarded the prestigi ...

. Other notable economists at the school include John H. Cochrane,

Luigi Zingales Luigi Zingales (; born 8 February 1963 in Padua, Italy) is a finance professor at the University of Chicago Booth School of Business and the author of two widely-reviewed books. His book '' Saving Capitalism from the Capitalists'' (2003) is a stu ...

and

Raghuram Rajan Raghuram Govind Rajan (born 3 February 1963) is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. Quote: "I am an Indian citizen. I have always b ...

, and former Chairperson of the

Council of Economic Advisers The Council of Economic Advisers (CEA) is a United States agency within the Executive Office of the President established in 1946, which advises the President of the United States on economic policy. The CEA provides much of the empirical resea ...

Austan Goolsbee Austan Dean Goolsbee (born August 18, 1969) is an American economist and writer. He is the Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business.

Alumni

The Chicago Booth Alumni has a community of over 49,000 members and is supported by 60+ alumni clubs worldwide. Alumni include Satya Nadella,

Jon Corzine Jon Stevens Corzine ( ; born January 1, 1947) is an American financial executive and retired politician who served as a United States Senator from New Jersey from 2001 to 2006 and the 54th governor of New Jersey from 2006 to 2010. Corzine ran fo ...

Peter G. Peterson Peter George Peterson (June 5, 1926 – March 20, 2018) was an American investment banker who served as United States Secretary of Commerce from February 29, 1972, to February 1, 1973, under the Richard Nixon administration. Before serving as Sec ...

Philip J. Purcell Philip J. Purcell (born 1943) is an American businessman. Purcell is a former chairman and CEO of Morgan Stanley, where he worked in the late 1990s and 2000s. He was previously chairman and CEO of Dean Witter, Discover and managed the firm unde ...

Todd Young Todd Christopher Young (born August 24, 1972) is an American attorney and politician serving as the senior United States senator for Indiana, a seat he has held since 2017. A member of the Republican Party, Young previously served as the U.S. r ...

Howard Marks Dennis Howard Marks (13 August 1945 – 10 April 2016) was a Welsh drug smuggler and author who achieved notoriety as an international cannabis smuggler through high-profile court cases. At his peak he claimed to have been smuggling consignmen ...

, Megan McArdle, John Meriwether, and Susan Wagner.

Publications

Chicago Booth currently publishes three academic journals: *''

Journal of Accounting Research The ''Journal of Accounting Research'' is a leading peer review, peer-reviewed academic journal associated with the University of Chicago. It was established in 1963 and is published by Wiley-Blackwell on behalf of the Accounting Research Center (F ...

'' *''

Journal of Law and Economics ''The Journal of Law and Economics'' is an academic journal published by the University of Chicago Press. It publishes articles on the economic analysis of regulation and the behavior of regulated firms, the political economy of legislation and leg ...

'' *''

Journal of Political Economy The ''Journal of Political Economy'' is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics. In the past, the ...

'' (with the Department of Economics)

''Chicago Booth Review''

''Chicago Booth Review'' is a magazine devoted to business research, particularly research conducted by Chicago Booth's own faculty. In addition to covering new findings in finance, behavioral science, economics, entrepreneurship, accounting, marketing, and other business-relevant subjects, the magazine features essays from Chicago Booth faculty and other academics. It is published quarterly in print and several times a week online. ''Chicago Booth Review'' is the most recent of several successive vehicles Chicago Booth has used to convey its intellectual capital to an outside audience. Starting in the 1960s, the school published the Selected Papers series, a collection of articles written by faculty members or excerpted from faculty speeches. In 1997, Booth launched ''Capital Ideas'' () as a separate newsletter featuring articles about faculty research. That subsequently evolved into a quarterly magazine, which in 2016 relaunched as ''Chicago Booth Review''.

References

External links

*
Guide to the University of Chicago Graduate School of Business Records 1935-1976
at th
University of Chicago Special Collections Research Center
{{DEFAULTSORT:Chicago Booth School of Business, University of

University of Chicago Booth School of Business The University of Chicago Booth School of Business (Chicago Booth or Booth) is the graduate business school of the University of Chicago. Founded in 1898, Chicago Booth is the second-oldest business school in the U.S. and is associated with 10 N ...

Rafael Viñoly buildings Educational institutions established in 1898 Schools of the University of Chicago 1898 establishments in Illinois