Ivy League business schools

Of the eight universities belonging to the Ivy League in the United States, six have business schools. They are:

Two Ivy League universities, Brown University and Princeton University, do not have business schools. Princeton is home to the Bendheim Center for Finance, which specializes in quantitative finance and offers an undergraduate finance certificate and the masters in finance degree. Brown offers a Business Economics track within its Commerce, Organizations and Entrepreneurship concentration. [cite web|url=http://coe.brown.edu/concentration/econ.html|title=Business Economic Track|publisher=Brown University|accessdate=2008-01-18]

All Ivy League business schools are located in the Northeast region of the United States and are privately owned and controlled. According to the "Financial Times," as of 2006 they "continue to dominate the top echelons of the MBA market" globally. [ [http://news.ft.com/cms/s/46cd5f78-919c-11da-bab9-0000779e2340,dwp_uuid=b29636b0-20ee-11d8-81c6-0820abe49a01.html Financial Times: Ivy League business schools top global MBA rankings] .]

Use of the term "Ivy League"

While the term Ivy League comes from an athletic conference with eight schools as members, the term is also used to refer to those eight schools considered as a group. In a wider sense, it is used to refer to the social group that is strongly associated with these schools.

History

The creation of business schools at Ivy League universities occurred over a period of nearly a century, beginning with the Wharton School of the University of Pennsylvania, founded in 1881 by Joseph Wharton, which was the first collegiate (undergraduate) business school in the world. [ [http://125th.wharton.upenn.edu/celebrate/leadership.html Wharton official Web site] ] Wharton's founding mission was to transform the study of business from a trade into a rigorous profession. Wharton created the first business school textbooks and subsequently became the first academic institution to develop administrative services in career management and academic advising.

In 1900, the Tuck School at Dartmouth was founded as the world's first graduate school of business. In 1921, Harvard Business School became the first business school to offer the MBA degree. During that same year, the Wharton School established the first business school research center, the Industrial Research Unit. Harvard Business School offered the first business school entrepreneurship course in the United States in 1947.

Ranking and reputation

Some publications' most recent rankings of full-time MBA programs at these schools are shown below. Each ranking emphasizes different criteria. "US News" emphasizes academic reputation, "BusinessWeek" student satisfaction, "Wall Street Journal" recruiter satisfaction, and "Forbes" return on investment. These four rankings are the major US national rankings. "Financial Times" and "The Economist" rank business schools worldwide. The "Financial Times" also produces a "ranking of rankings", which orders the top-ten MBA programs based on their average ranking in five of the individual surveys ("The Economist", "BusinessWeek", "Wall Street Journal", "Forbes", "Financial Times") [N.B. the 2007 ranking of rankings is based on prior year rankings] .

"US News" consistently ranks all Ivy schools among the top 25 business schools in the United States. The US News top 5 has been virtually unchanged every year for the last 15 years, consisting of Harvard and Wharton, plus non-Ivy schools Stanford Graduate School of Business, the MIT Sloan School of Management, the University of Chicago Graduate School of Business and the Kellogg School of Management.Fact|date=May 2008

References