Everipedia Logo
Everipedia is now IQ.wiki - Join the IQ Brainlist and our Discord for early access to editing on the new platform and to participate in the beta testing.
Booth School of Business

Booth School of Business

The University of Chicago Booth School of Business (also known as Chicago Booth, or Booth) is the graduate business school of the University of Chicago in Chicago, Illinois. The University of Chicago, including Booth faculty, has produced more Nobel laureates in the Economic Sciences (28)[3] than any other school. Formerly known as The University of Chicago Graduate School of Business, Chicago Booth is the second-oldest business school in the U.S.,[4] and the first such school to offer an Executive MBA program.[5] The school was renamed in 2008 following a $300 million endowment gift to the school by alumnus David G. Booth. The school has the third-largest endowment of any business school.[6]

The school's campus is located in the Hyde Park neighborhood of Chicago on the main campus of the university. The school also maintains additional campuses in London and Asia (originally Singapore, but in July 2013 a move to Hong Kong was announced),[7][8] as well as in downtown Chicago on the Magnificent Mile. In addition to conducting graduate business programs, the school conducts research in the fields of finance, economics, quantitative marketing research, and accounting, among others. The Full-Time MBA Program is currently tied for third with Harvard Business School and the MIT Sloan School of Management according to U.S. News & World Report.[9]

University of Chicago Booth School of Business
TypePrivate business school
EndowmentUS $1.034 billion[1]
DeanMadhav V. Rajan
Academic staff
ca 200[2]
United States
ColorsMaroon and White
AffiliationsUniversity of Chicago
Websitewww.chicagobooth.edu [35]
Business school rankings
Worldwide overall
Times Higher Education[18]11
U.S. News & World Report[19]5
Worldwide MBA
Business Insider[20]2
Financial Times[22]7
Bloomberg Businessweek[23]5
U.S. News & World Report[25]3


The University of Chicago Booth School of Business traces its roots back to 1898 when university faculty member James Laurence Laughlin chartered the College of Commerce and Politics,[10] 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 program was offered at the school. In 1932, the school was rechristened as the School of Business.[2] The School of Business offered its first Master of Business Administration (MBA) in 1935.[11] 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 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 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.[12]

**Deans of the School of Business**
Henry Rand Hatfield1902–1904
Francis W. Shepardson1904–1906
C.E. Merriam1907–1909
Leon C. Marshall1909–1924
William H. Spencer1924–1945
Garfield V. Cox1945–1952
John E. Jeuck1952–1955
W. Allen Wallis1956–1962
George P. Shultz1962–1969
Sidney Davidson1969–1974
Richard N. Rosett1974–1982
John P. Gould1983–1993
Robert S. Hamada1993–2001
Edward A. "Ted" Snyder2001–2010
Sunil Kumar2011–2016
Madhav V. Rajan (Interim dean Douglas J. Skinner)2017–

During the latter half of the twentieth century, the business school was instrumental in the development of the Chicago School of economics, 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).[13][14] Students at the school founded the National Black MBA Association (1972), and it is the only U.S. business school with permanent campuses on three continents: Asia (2000), Europe (1994), and North America (1898).


In Chicago, the Booth School has two campuses: the Charles M. Harper Center in Hyde Park, which hosts the school's full-time MBA and Ph.D. programs, and the Gleacher Center in downtown Chicago, which hosts evening, weekend, and executive MBA programs. Chicago Booth also has a campus in London across from the Guildhall and a campus in Hong Kong.[15]


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.

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.


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.[16]

Research and learning centers

UChicago Booth School of Business interior

UChicago Booth School of Business interior

The school promotes and disseminates research through its centers and institutes; the most significant ones are:[2]

  • Accounting Research Center

  • Applied Theory Initiative

  • Center for Decision Research

  • Center for Population Economics

  • Center for Research in Security Prices

  • Chicago Energy Initiative

  • Fama-Miller Center for Research in Finance

  • George J. Stigler Center for the Study of the Economy and the State

  • Initiative on Global Markets

  • Michael P. Polsky Center for Entrepreneurship and Innovation

  • The Becker Friedman Institute for Research in Economics

  • James M. Kilts Center for Marketing

  • Rustandy Center for Social Sector Innovation


U.S. News & World Report ranks Chicago Booth in 2019 as tied for the 3rd best business school (with Harvard Business School and MIT Sloan School of Management) in the United States.[27] U.S. News also ranked the school's executive MBA program 1st[28] and its part-time program 1st in the U.S.[29] In 2018, The Economist ranked the school's full-time MBA program as 1st globally.[30] The Economist also ranked Chicago 1st each year from 2012 to 2016.[30]



The Booth school has 177 professors,[2] and includes Nobel laureates Eugene Fama and Richard Thaler, presidential appointees, and a MacArthur fellow.[31] Notable economists Kevin M. Murphy, John H. Cochrane, Luigi Zingales and Raghuram Rajan, and former Chairperson of the Council of Economic Advisers, Austan Goolsbee, are professors there.


The Chicago Booth Alumni has a community of over 49,000 members[32] and is supported by 60+ alumni clubs worldwide.[33] Alumni include Satya Nadella, Jon Corzine, Peter G. Peterson, Philip J. Purcell, Todd Young, Howard Marks, Megan McArdle, John Meriwether, and Susan Wagner.


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 (ISSN 1934-0060 [36] ) as a separate newsletter featuring articles about faculty research. That subsequently evolved into a quarterly magazine, which in 2016 relaunched as Chicago Booth Review.

See also

  • Glossary of economics

  • List of United States business school rankings

  • List of business schools in the United States


Citation Linkwww.chicagobooth.edu"Dean's Annual Report 2014-2015". The University of Chicago. Retrieved March 22, 2016.
Sep 24, 2019, 2:56 AM
Citation Linkwww.chicagobooth.edu"Key Facts". The University of Chicago. Retrieved March 3, 2018.
Sep 24, 2019, 2:56 AM
Citation Linkpoetsandquants.com"Chicago Booth racks up yet another Nobel".
Sep 24, 2019, 2:56 AM
Citation Linkwww.chicagobooth.edu"Chicago Booth History". Booth School of Business. Retrieved September 6, 2009.
Sep 24, 2019, 2:56 AM
Citation Linkwww.emba.org"History of Executive MBA Council". Executive MBA Council (www.emba.org). Archived from the original on 2009-07-12. Cite uses deprecated parameter |deadurl= (help)
Sep 24, 2019, 2:56 AM
Citation Linkwww.ft.com"Subtle Strategist". Financial Times, FT.com.
Sep 24, 2019, 2:56 AM
Citation Linkchronicle.comU. of Chicago to Move Asia M.B.A. Program From Singapore to Hong Kong The Chronicle of Higher Education July 11, 2013
Sep 24, 2019, 2:56 AM
Citation Linkwww.wsj.com"University of Chicago Moves Asia M.B.A. Program to Hong Kong from Singapore The School Cites 'Proximity to China' as a Prime Attraction" Wall Street Journal July 11, 2013
Sep 24, 2019, 2:56 AM
Citation Linkwww.usnews.com"rankings". www.usnews.com. Retrieved 2019-05-15.
Sep 24, 2019, 2:56 AM
Citation Linkbooks.google.comHooper, Frederick; Graham, James (1901). Commercial Education at Home and Abroad: A Comprehensive Handbook. Macmillan and Company. p. 141.
Sep 24, 2019, 2:56 AM
Citation Linkbooks.google.comBoyer, John W. (2015-09-23). The University of Chicago: A History. University of Chicago Press. ISBN 9780226242514.
Sep 24, 2019, 2:56 AM
Citation Linknews.uchicago.edu"Alumnus David Booth gives $300 million; University of Chicago Booth School of Business". University of Chicago News. November 8, 2008. Retrieved July 25, 2019.
Sep 24, 2019, 2:56 AM
Citation Linkmagazine.uchicago.edu"Centennial Report, University of Chicago Magazine, December 1997". magazine.uchicago.edu.
Sep 24, 2019, 2:56 AM
Citation Linkwww.chicagobooth.edu"History". The University of Chicago Booth School of Business.
Sep 24, 2019, 2:56 AM
Citation Linkwww.chicagobooth.eduChicago Booth Campuses, University of Chicago Booth School of Business.
Sep 24, 2019, 2:56 AM
Citation Linkprograms.chicagobooth.eduHonors, Booth School of Business, University of Chicago (last accessed March 21, 2017).
Sep 24, 2019, 2:56 AM
Citation Linkwww.topuniversities.com"QS Global MBA Rankings 2019". Quacquarelli Symonds. 2019. Retrieved 2019-07-25.
Sep 24, 2019, 2:56 AM
Citation Linkwww.timeshighereducation.com"World University Rankings 2019 by subject: business and economics". Times Higher Education. 2019. Retrieved 2019-07-24.
Sep 24, 2019, 2:56 AM
Citation Linkwww.usnews.com"Best Global Universities for Economics and Business". U.S. News & World Report. 2019. Retrieved 2019-07-24.
Sep 24, 2019, 2:56 AM
Citation Linkwww.businessinsider.com"The 50 best business schools in the world". Business Insider. 2015. Retrieved 2019-07-24.
Sep 24, 2019, 2:56 AM