Chicago Booth History
The University of Chicago Booth School of Business is the second-oldest school in the U.S. - and second to none when it comes to influencing business education and business practices. Here are some highlights from Chicago Booth’s rich history of innovation.
1895
"Scientific guidance and investigation of great economic and social matters of everyday importance are the crying needs."
—William Rainey Harper
President of the University of Chicago
1898
The College of Commerce and Politics founded at the University of Chicago to offer practical business instruction
1902
Henry R. Hatfield is named first Dean and school is renamed the College of Commerce and Administration
1916
Materials for the Studies of Business Series—the first comprehensive business curriculum—is developed at Chicago. School is renamed the School of Commerce and Administration
1922
First doctoral program in business offered
1928
The Journal of Business, first academic business journal, is founded at Chicago
1929
First university to grant a PhD in business to a woman, Ursula Batchelder Stone
1932
School is renamed to the School of Business
1933
First program to educate hospital administrators
1935
Business student Jay Berwanger wins the first Heisman Trophy. First MBA is awarded.
1938
Evening MBA program begins in downtown Chicago
1942
Chicago awards its first MBA to an African American, Lionel Wallace. Undergraduate program is phased out; focus is placed on graduate education
1943
First Executive MBA program for experienced managers offered
1959
Renamed the Graduate School of Business
1960
James Lorie and Lawrence Fisher establish the Center for Research in Securities Prices, enabling rigorous empirical analysis of stock prices and investment theories
1964
Dean George P. Shultz develops first minority scholarship program at a business school
1970
Chicago Booth students found the National Black MBA Association (the Association was incorporated in 1974)
1982
First business school faculty member, George Stigler, to receive a Nobel Prize in Economic Sciences
1986
Chicago Booth offers first Weekend MBA program
1988
The LEAD program begins with the aim of fostering the development of students' leadership capabilities
1990
Merton Miller wins a Nobel Prize for demonstrating that the laws of microeconomics apply to corporate finance
1991
Ronald Coase wins a Nobel Prize for his work showing that property rights and transaction costs shape the organization of economic activity
1992
Gary Becker wins a Nobel Prize for extending microeconomic analysis to a wide range of human behavior
1993
Robert Fogel wins a Nobel Prize for using economic tools to understand historical institutions and trends
1994
New downtown campus opens, offering greatly improved classrooms and conference facilities. Executive MBA program goes global, debuting in Barcelona
1994
Executive MBA classes begin at Chicago Booth’s new campus in Barcelona
1997
Myron Scholes, MBA ’64, PhD ’70, a former faculty member, wins a Nobel Prize for his role in developing the formula used to value stock options
1998
Chicago Booth celebrates its centennial
2000
Executive MBA Program classes begin at Chicago Booth's new Singapore campus
2002
Chicago Booth breaks ground for a new Hyde Park campus
2004
The new Charles M. Harper Center opens in Hyde Park
2005
Chicago Booth announces relocation of Barcelona campus to London – campus opens in Summer 2005
2008
David Booth, '71, gives a $300 million gift to the renamed University of Chicago Booth School of Business - the largest donation ever made to a business school. Learn more about David Booth >
