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{{Short description|Business school of the University of Chicago}}
[[Image:UChicago Graduate School of Business skylight.jpg|thumb|300px|Windowed ceiling of the Graduate School of Business Hyde Park Center]]
{{Redirect|Booth School|the defunct school in Philadelphia|Booth School (Philadelphia)}}
{{Infobox university
| name = The University of Chicago<br>Booth School of Business
| image_name = Harper Center by Matthew Bisanz.jpg
| image_size =
| image_alt = The Harper Center
| established = 1898
| type = [[Private university|Private]] [[Postgraduate education|graduate]] [[business school]]
| affiliations = [[University of Chicago]]
| dean = [[Madhav V. Rajan]]
| faculty = ca 200<ref name="Facts">{{cite web |title=Key Facts |publisher=The University of Chicago |url=https://www.chicagobooth.edu/about/facts |access-date=March 3, 2018 |archive-date=April 22, 2020 |archive-url=https://web.archive.org/web/20200422045314/https://www.chicagobooth.edu/about/facts |url-status=live }}</ref>
| postgrad = 3,297<ref name="Facts" />
| city = [[Chicago]]
| state = [[Illinois]]
| country = United States
| endowment = $1.034 billion<ref name="Annual Report">{{cite web |title=Dean's Annual Report 2014-2015 |publisher=The University of Chicago |url=http://www.chicagobooth.edu/assests/flipbook/deansreport2015/?source=do-em-deansreport-1415-20160304#4 |access-date=March 22, 2016 |archive-date=October 21, 2016 |archive-url=https://web.archive.org/web/20161021004554/https://www.chicagobooth.edu/assests/flipbook/deansreport2015/?source=do-em-deansreport-1415-20160304#4 |url-status=live }}</ref>
| colors = Maroon and White<br/>{{color box|#800000}}&nbsp;{{color box|#808080}}
| website = {{URL|https://chicagobooth.edu}}
| logo = University of Chicago Booth School of Business logo.svg
| mascot =
}}


'''The University of Chicago Booth School of Business''' (branded as '''Chicago Booth''') is the [[Postgraduate education|graduate]] [[business school]] of the [[University of Chicago]], a [[private university|private]] [[research university]] in [[Chicago, Illinois]]. 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.<ref>{{Cite web |title=Nobel winner Booth Faculty |url=https://www.chicagobooth.edu/faculty/nobel |access-date=2020-08-05 |archive-date=2020-08-08 |archive-url=https://web.archive.org/web/20200808100909/https://www.chicagobooth.edu/faculty/nobel |url-status=live }}</ref><ref>{{Cite web |title=Chicago Booth History |url=http://www.chicagobooth.edu/about/history.aspx |access-date=2009-09-06 |archive-date=2009-06-02 |archive-url=https://web.archive.org/web/20090602073840/http://www.chicagobooth.edu/about/history.aspx |url-status=live }}</ref> The school has the third-largest endowment of any business school.<ref>{{cite news |url=http://www.ft.com/cms/s/0/80077b42-43f0-11df-9235-00144feab49a,dwp_uuid=02e16f4a-46f9-11da-b8e5-00000e2511c8.html |title=Subtle Strategist |newspaper=Financial Times |date=11 April 2010 |publisher=Financial Times, FT.com |access-date=12 April 2010 |archive-date=14 October 2022 |archive-url=https://web.archive.org/web/20221014022902/https://www.ft.com/content/80077b42-43f0-11df-9235-00144feab49a |url-status=live }}</ref>
The '''[[University of Chicago]] Graduate School of Business''' ("Chicago GSB") is one of the world's leading [[business school]]s. The GSB, as it is fondly called by students, has its main campus in the [[Hyde Park, Chicago|Hyde Park]] neighborhood in the southern part of the city of [[Chicago, Illinois|Chicago]]. It boasts the highest number of [[Nobel Prize|Nobel]]-laureate alumni and faculty of any business school [http://www-news.uchicago.edu/resources/nobel/]
[http://www-news.uchicago.edu/releases/95/951010.nrc.univ.rankings.shtml].


Notable Chicago Booth alumni include [[James O. McKinsey]], founder of [[McKinsey & Company]]; [[Susan Wagner]], co-founder of [[BlackRock|Blackrock]]; [[Eric Kriss]], co-founder of [[Bain Capital]]; [[Satya Nadella]], current CEO of [[Microsoft]]; and other current and former CEOs of Fortune 500 companies such as [[Allstate|Allstate Insurance]], [[Booz Allen Hamilton]], [[Cargill]], [[Chevron Corporation|Chevron]], [[Chipotle]], [[Credit Suisse]], [[Domino's Pizza|Dominos]], [[Goldman Sachs]], [[IBM]], [[Morgan Stanley]], [[Morningstar, Inc.|Morningstar]], [[PIMCO]], [[Reckitt Benckiser]], and [[Starbucks]].
Both the full-time [[Master of Business Administration|MBA]] and [[EMBA]] program are ranked among the top business schools in the world:


==History==
* #2 ''[[BusinessWeek]]'' biennial rankings, 2004
The University of Chicago Booth School of Business traces its roots to 1898 when university faculty member [[James Laurence Laughlin]] chartered the College of Commerce and Politics,<ref>{{Cite book |url=https://archive.org/details/commercialeduca00coungoog |title=Commercial Education at Home and Abroad: A Comprehensive Handbook |last1=Hooper |first1=Frederick |last2=Graham |first2=James |date=1901 |publisher=Macmillan and Company |pages=[https://archive.org/details/commercialeduca00coungoog/page/n211 141] |language=en}}</ref> 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.
* #5 ''[[Economist]] Intelligence Unit'', 2003
* #6 ''[[U.S. News & World Report]]'', 2004
* #5 ''[[The Wall Street Journal]]'', 2003
* #4 ''[[Financial Times]]'', 2004
* #3 ''[[Forbes]]'', 2003
* #1 ''[[The Economist]]'' poll of polls [http://www.economist.com/displaystory.cfm?story_id=1383461]
* #1 ''[[Financial Times]]'' Asia


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''.<ref name="Facts" /> The School of Business offered its first [[Master of Business Administration]] (MBA) in 1935.<ref>{{Cite book |url=https://books.google.com/books?id=XdcpCwAAQBAJ&pg=PA442 |title=The University of Chicago: A History |last=Boyer |first=John W. |date=2015-09-23 |publisher=University of Chicago Press |isbn=9780226242514 |language=en |access-date=2018-12-20 |archive-date=2022-10-14 |archive-url=https://web.archive.org/web/20221014022901/https://books.google.com/books?id=XdcpCwAAQBAJ&pg=PA442 |url-status=live }}</ref> 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''.<ref>{{cite web |url=https://news.uchicago.edu/article/2008/11/06/alumnus-david-booth-gives-300-million-university-chicago-booth-school-business-na |title=Alumnus David Booth gives $300 million; University of Chicago Booth School of Business. |work=University of Chicago News |date=November 8, 2008 |access-date=July 25, 2019 |archive-date=October 14, 2022 |archive-url=https://web.archive.org/web/20221014022902/https://news.uchicago.edu/story/alumnus-david-booth-gives-300-million-university-chicago-booth-school-business-named-his |url-status=live }}</ref>
[[Image:UChicago Graduate School of Business interior.jpg|thumb|300px|Interior of the Graduate School of Business Hyde Park Center]]
{| class="wikitable" style="float:right;"
|+ '''Deans'''
|-
! Name
! Tenure
|-
| Henry Rand Hatfield
| 1902–1904
|-
| Francis W. Shepardson
| 1904–1906
|-
| [[Charles Edward Merriam|C.E. Merriam]]
| 1907–1909
|-
| [[Leon C. Marshall]]
| 1909–1924
|-
| William H. Spencer
| 1924–1945
|-
| [[Garfield V. Cox]]
| 1945–1952
|-
| [[John E. Jeuck]]
| 1952–1955
|-
| [[W. Allen Wallis]]
| 1956–1962
|-
| [[George P. Shultz]]
| 1962–1969
|-
| Sidney Davidson
| 1969–1974
|-
| [[Richard N. Rosett]]
| 1974–1982
|-
| John P. Gould
| 1983–1993
|-
| [[Robert Hamada (professor)|Robert S. Hamada]]
| 1993–2001
|-
| [[Ted Snyder (economist)|Edward A. "Ted" Snyder]]
| 2001–2010
|-
| [[Sunil Kumar (academic administrator)|Sunil Kumar]]
|2011–2016
|-
|[[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 ([[Master of Business Administration|EMBA]]) program (1943), and for offering the first weekend MBA program (1986).<ref>{{cite web |url=http://magazine.uchicago.edu/9712/9712centennial2.html |title=Centennial Report, University of Chicago Magazine, December 1997 |website=magazine.uchicago.edu |access-date=2006-09-27 |archive-date=2006-09-17 |archive-url=https://web.archive.org/web/20060917020116/http://magazine.uchicago.edu/9712/9712centennial2.html |url-status=live }}</ref><ref>{{cite web |url=http://www.chicagobooth.edu/about/history |title=History |website=The University of Chicago Booth School of Business |access-date=2009-09-06 |archive-date=2017-04-07 |archive-url=https://web.archive.org/web/20170407213418/https://www.chicagobooth.edu/about/history |url-status=live }}</ref> 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).
The 2004-2005 full-time program comprises 1088 first- and second-year students. Chicago GSB also offers a part-time MBA program with identical curriculum, faculty, and classes to the full-time program. The part-time program is domiciled at the GSB's Downtown Chicago campus, but students in both the full-time and part-time programs may register for classes at either the Hyde Park Center or the downtown campus.


==Campuses==
In addition, Chicago GSB offers an Executive MBA program. This program is offered in its permanent campuses on three continents (Downtown [[Chicago]], [[London]] and [[Singapore]]).
In Chicago, the Booth School has two campuses: the Charles M. Harper Center<ref>{{Cite web |url=https://www.chicagobooth.edu/why-booth/global-footprint/north-america/harper-center |title=Explore the Harper Center |access-date=2021-10-19 |archive-date=2022-10-14 |archive-url=https://web.archive.org/web/20221014022902/https://www.chicagobooth.edu/why-booth/global-footprint/north-america/harper-center |url-status=live }}</ref> in [[Hyde Park, Chicago|Hyde Park]], which houses the school's full-time MBA and Ph.D. programs, and the Gleacher Center<ref>{{Cite web |url=https://www.chicagobooth.edu/why-booth/global-footprint/north-america/gleacher-center |title=Explore Gleacher Center |access-date=2021-10-19 |archive-date=2021-10-19 |archive-url=https://web.archive.org/web/20211019203322/https://www.chicagobooth.edu/why-booth/global-footprint/north-america/gleacher-center |url-status=live }}</ref> in [[downtown Chicago]], 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]],<ref>{{Cite web |url=https://www.chicagobooth.edu/why-booth/global-footprint/europe |title=Learn More about Booth in Europe |access-date=2021-10-19 |archive-date=2021-10-19 |archive-url=https://web.archive.org/web/20211019203319/https://www.chicagobooth.edu/why-booth/global-footprint/europe |url-status=live }}</ref> a short walk from [[St Paul's Cathedral]], hosting the EMBA Program in Europe and Executive Education classes. Lastly, Chicago Booth has a campus in [[Hong Kong]], located in the [[University of Chicago Francis and Rose Yuen Campus|Hong Kong Jockey Club University of Chicago Academic Complex]].<ref>{{Cite web |url=https://www.chicagobooth.edu/why-booth/global-footprint/asia |title=Building Connections in Asia |access-date=2021-10-19 |archive-date=2021-10-19 |archive-url=https://web.archive.org/web/20211019203319/https://www.chicagobooth.edu/why-booth/global-footprint/asia |url-status=live }}</ref><ref>[https://www.chicagobooth.edu/about/locations Chicago Booth Campuses] {{Webarchive|url=https://web.archive.org/web/20190212125350/https://www.chicagobooth.edu/about/locations |date=2019-02-12 }}, University of Chicago Booth School of Business, home to the Executive MBA Program Asia, Executive Education courses, and The Hong Kong Jockey Club Programme on Social Innovation.</ref>


==Academics==
Students in the full-time program at the Hyde Park campus have access to a unique curriculum structure not found at other top American institutions. Rather than taking a fixed set of classes with their entering cohort, students craft their own curriculum according to a basic set of requirements from courses across the GSB and the University at large. This allows for a student taking a course in microeconomics, for example, to select from offerings ranging from a basic introduction to consumer and firm theory, through to the doctoral sequence taken by graduate students in the department of economics. This format has made the school a leading producer of highly quantitative graduates, especially in the fields of finance and applied economic theory. Students can opt to pursue one or more of the following areas of study (concentrations):
Chicago Booth offers Full-time, Part-time (Evening and Weekend) and Executive MBA programs. Starting in the 2024–2025 academic year, Booth intends to offer a Master in Finance and Master in Management degrees for recent college graduates who studied humanities, arts, social sciences, biological sciences, or physical sciences in college, and are interested in jobs that value business-oriented skills and knowledge.


The university also educates 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]], [[economics]], [[quantitative marketing research]], and [[accounting]], among others. PhD graduates include [[Cliff Asness]] and John Liew, who co-founded money management firm [[AQR Capital|AQR]], and Ross Stevens, who founded Stone Ridge Asset Management.<ref>{{Cite web |last=People |title=People |url=https://www.stoneridgeam.com/people.html |access-date=September 18, 2024 |website=Stone Ridge Asset Management}}</ref> In April 2023, Stevens donated $100 million to support Chicago Booth's PhD program, which is now named the Stevens Doctoral Program.<ref>{{Cite web |last=Nietzel |first=Michael |date=April 29, 2023 |title=$100 Million Gift For The University of Chicago Booth School of Business |url=https://www.forbes.com/sites/michaeltnietzel/2023/04/29/100-million-gift-for-the-university-of-chicago-booth-school-of-business/ |access-date=September 18, 2024 |website=Forbes.com}}</ref>
* [[Accounting]]
* Analytic Finance
* [[Econometrics]] and [[Statistics]]
* [[Economics]]
* [[Entrepreneurship]]
* [[Finance]]
* General Management
* Human Resource Management
* International Business
* [[Management]] and [[Organizational Behavior]]
* [[Marketing]] Management
* Operations Management
* [[Strategic Management]]


===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.<ref>[http://programs.chicagobooth.edu/convocation/prepare/honors.aspx/ Honors] {{Webarchive|url=https://web.archive.org/web/20181113025814/https://programs.chicagobooth.edu/convocation/prepare/honors.aspx/ |date=2018-11-13 }}, Booth School of Business, University of Chicago (last accessed March 21, 2017).</ref>


===Research and learning centers===
The University of Chicago Graduate School of Business boasts many 'Firsts':
[[Image:UChicago Graduate School of Business interior.jpg|thumb|right|upright=1.2|UChicago Booth School of Business interior]]
The school promotes and disseminates research through its centers and institutes; the most significant ones are:<ref name="Facts" />


*Accounting Research Center
* First business school to have a Nobel laureate on its faculty ([[George Joseph Stigler|George Stigler]], 1982)
*Applied Theory Initiative
* First and only business school to have had six Nobel Prize winners: Stigler; [[Merton Miller]], 1990; [[Ronald Coase]], 1991; [[Gary Becker]], 1992; [[Robert Fogel]], 1993; and [[Myron Scholes]], 1997.
*[[Center for Decision Research]]
* First to initiate a [[Ph.D.]] program in business (1920).
*Center for Population Economics
* First to offer an executive M.B.A. degree program (1943).
*[[Center for Research in Security Prices]]
* First to offer an executive M.B.A. program in Europe and Asia.
*Chicago Energy Initiative
* First and only business school to have campuses on three continents (in [[Chicago]], [[London]], and [[Singapore]])
*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 [[Gary Becker|Becker]] [[Milton Friedman|Friedman]] Institute for Research in Economics
*[[James M. Kilts]] Center for Marketing
*Rustandy Center for Social Sector Innovation


==Rankings==
{{Infobox business school rankings
| QSglobal = 14
| FT = 10
| BWg = 2
| USNWRg = 3
| QSUSA = 8
|FTus=6|LinkedIn=9}}


Chicago Booth was ranked #1 by both ''Forbes'' and ''The Economist'' in 2019. ''[[U.S. News & World Report]]'' ranks Chicago Booth in 2022 and 2023 as the #1 business school in the United States.<ref>{{Cite web |year=2023 |title=Best Business Schools |url=https://www.usnews.com/best-graduate-schools/top-business-schools/mba-rankings |access-date=March 7, 2023 |magazine=U.S. News & World Report}}</ref> ''U.S. News'' also ranked the school's executive MBA program #1<ref>{{cite web |year=2020 |title=Best Executive MBA Programs |url=https://www.usnews.com/best-graduate-schools/top-business-schools/executive-rankings |work=U.S. News & World Report}}</ref> and its part-time program #1 in the U.S.<ref>{{cite web |year=2019 |title=Best Part-time MBA Programs |url=https://www.usnews.com/best-graduate-schools/top-business-schools/part-time-rankings |work=U.S. News & World Report}}</ref> In 2019, ''[[The Economist]]'' ranked the school's full-time MBA program as #1 globally.<ref name="Economist">{{Cite news |title=Full-time mba ranking |url=https://www.economist.com/whichmba/full-time-mba-ranking |access-date=August 3, 2020 |newspaper=The Economist}}</ref> ''The Economist'' also ranked Chicago #1 each year from 2012 to 2016 and 2019.<ref name="Economist" /> The Financial Times Rankings 2019 awarded Chicago Booth third place in Open Executive Education.<ref>{{Cite web |title=Business school rankings from the Financial Times – FT.com |url=http://rankings.ft.com/businessschoolrankings/executive-education-open-2019 |url-status=dead |archive-url=https://web.archive.org/web/20201023091045/http://rankings.ft.com/businessschoolrankings/executive-education-open-2019 |archive-date=2020-10-23 |access-date=2020-01-20 |website=rankings.ft.com}}</ref> Poets and Quants ranked the school #2 in their 2019 ranking.<ref>{{cite web |date=25 November 2019 |title=Stanford GSB Cruises into First in P & Q's 2019–2020 MBA Ranking |url=https://poetsandquants.com/2019/11/25/poets-and-quants-2019-2020-mba-ranking/4/}}</ref>
Other notable faculty members include:
* [[Eugene Fama]], “Man Who Launched Modern Finance” - financial economist and originator of [[efficient market theory]]
* [[Steven Levitt]], economist, author of [[Freakonomics]], [[John Bates Clark Medal]] recipient and director of the [[Initiative on Chicago Price Theory]]
* [[Kevin M. Murphy]], economist, [[John Bates Clark Medal]] recipient and [[MacArthur Fellows|MacArthur Fellow]]
* [[Richard Thaler]], behavioral economist


==People==
Research and Learning Centers
The GSB promotes and disseminates research through numerous centers and institutes:


=== Faculty ===
* Center for Decision Research
{{Main|List of University of Chicago Booth School of Business faculty}}
* Center for Population Economics
* Center for Research in Security Prices
* George J. Stigler Center for the Study of the Economy and the State
* Institute of Professional Accounting
* Michael P. Polsky Center for Entrepreneurship
* James M. Kilts Center for Marketing


The Booth school has 177 professors,<ref name="Facts" /> and includes Nobel laureates [[Eugene Fama]] and [[Richard Thaler]] and [[MacArthur Genius Grant|MacArthur Fellow]] [[Kevin M. Murphy]].<ref name="ViewBook">{{cite web |url=https://www.chicagobooth.edu/faculty/directory/m/kevin-m-murphy |title=Kevin Murphy Bio |year=2017 |publisher=The University of Chicago |access-date=January 3, 2018 |archive-date=January 4, 2018 |archive-url=https://web.archive.org/web/20180104073537/https://www.chicagobooth.edu/faculty/directory/m/kevin-m-murphy |url-status=live }}</ref> Other notable economists at the school include [[Luigi Zingales]] and [[Raghuram Rajan]], and former Chairperson of the [[Council of Economic Advisers]], [[Austan Goolsbee]], who is currently on leave as President of the Federal Reserve Bank of Chicago.<ref>{{Cite web |title=Board of Governors of the Federal Reserve System |url=https://www.federalreserve.gov/aboutthefed/federal-reserve-system-chicago.htm |access-date=September 18, 2024 |website=Federal Reserve}}</ref>
==See also==
* [[MBA]]
* [[business school]]
* [[M7 (business school)]]


==External link==
===Alumni===
{{Main|List of University of Chicago Booth School of Business alumni}}
* http://gsb.uchicago.edu
The Chicago Booth Alumni has a community of over 49,000 members<ref>{{cite web |url=http://www.chicagobooth.edu/programs/full-time/student-experience/alumni-network |title=Alumni Network |website=The University of Chicago Booth School of Business |access-date=2016-01-20 |archive-date=2019-03-27 |archive-url=https://web.archive.org/web/20190327111951/https://www.chicagobooth.edu/programs/full-time/student-experience/alumni-network |url-status=live }}</ref> and is supported by 60+ alumni clubs worldwide.<ref>{{cite web |url=http://www.chicagobooth.edu/alumni/clubs |title=Clubs |website=The University of Chicago Booth School of Business |access-date=2010-05-06 |archive-date=2020-04-07 |archive-url=https://web.archive.org/web/20200407104520/https://www.chicagobooth.edu/alumni/clubs |url-status=live }}</ref> Alumni include [[Satya Nadella]], [[Jon Corzine]], [[Peter G. Peterson]], [[Philip J. Purcell]], [[Todd Young]], [[Howard Marks (investor)|Howard Marks]], [[Megan McArdle]], [[John Meriwether]], and [[Susan Wagner]].
* http://www.chicagogsb.edu


== Publications ==
[[Category:University of Chicago]]
Chicago Booth currently publishes three academic journals:<ref>{{Cite web |title=Journals |work=The University of Chicago Booth School of Business |accessdate=2021-02-23 |url=http://www.chicagobooth.edu/faculty/journals |archive-date=2021-02-16 |archive-url=https://web.archive.org/web/20210216202822/https://www.chicagobooth.edu/faculty/journals |url-status=live }}</ref>
[[Category:Business schools|Chicago]]
*''[[Journal of Accounting Research]]''
*''[[Journal of Law and Economics]]''
*''[[Journal of Political Economy]]'' (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'' ({{ISSN|1934-0060}}) 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]]

==References==
{{Reflist|colwidth=30em}}

==External links==
{{Commons category-inline}}
*{{Official website|http://www.chicagobooth.edu }}
*[https://www.lib.uchicago.edu/e/scrc/findingaids/view.php?eadid=ICU.SPCL.GRADSCHOOLBUSINESS Guide to the University of Chicago Graduate School of Business Records 1935-1976] at the [https://www.lib.uchicago.edu/scrc/ University of Chicago Special Collections Research Center]

{{UChicago|academics}}
{{Authority control}}

{{Coord|41|47|21|N|87|35|44|W|type:edu_region:US-IL|display=title}}

{{DEFAULTSORT:Chicago Booth School of Business, University of}}
[[Category:Business schools in Illinois|University of Chicago Booth School of Business]]
[[Category:Booth School of Business| ]]
[[Category:Rafael Viñoly buildings]]
[[Category:Universities and colleges established in 1898]]
[[Category:Schools of the University of Chicago]]
[[Category:1898 establishments in Illinois]]
[[Category:M7 business schools]]

Latest revision as of 07:49, 16 November 2024

"Booth School" redirects here. For the defunct school in Philadelphia, see Booth School (Philadelphia).
The University of Chicago
Booth School of Business
The Harper Center
TypePrivate graduate business school
Established1898
Endowment$1.034 billion[1]
DeanMadhav V. Rajan
Academic staff
ca 200[2]
Postgraduates3,297[2]
Location
Chicago
,
Illinois
,
United States
ColorsMaroon and White
   
AffiliationsUniversity of Chicago
Websitechicagobooth.edu

The University of Chicago Booth School of Business (branded as Chicago Booth) is the graduate business school of the University of Chicago, a private research university in Chicago, Illinois. 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.[3][4] The school has the third-largest endowment of any business school.[5]

Notable Chicago Booth alumni include James O. McKinsey, founder of McKinsey & Company; Susan Wagner, co-founder of Blackrock; Eric Kriss, co-founder of Bain Capital; Satya Nadella, current CEO of Microsoft; and other current and former CEOs of Fortune 500 companies such as Allstate Insurance, Booz Allen Hamilton, Cargill, Chevron, Chipotle, Credit Suisse, Dominos, Goldman Sachs, IBM, Morgan Stanley, Morningstar, PIMCO, Reckitt Benckiser, and Starbucks.

History

[edit]

The University of Chicago Booth School of Business traces its roots to 1898 when university faculty member James Laurence Laughlin chartered the College of Commerce and Politics,[6] 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.[7] 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.[8]

Deans
Name Tenure
Henry Rand Hatfield 1902–1904
Francis W. Shepardson 1904–1906
C.E. Merriam 1907–1909
Leon C. Marshall 1909–1924
William H. Spencer 1924–1945
Garfield V. Cox 1945–1952
John E. Jeuck 1952–1955
W. Allen Wallis 1956–1962
George P. Shultz 1962–1969
Sidney Davidson 1969–1974
Richard N. Rosett 1974–1982
John P. Gould 1983–1993
Robert S. Hamada 1993–2001
Edward A. "Ted" Snyder 2001–2010
Sunil Kumar 2011–2016
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).[9][10] 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).

Campuses

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In Chicago, the Booth School has two campuses: the Charles M. Harper Center[11] in Hyde Park, which houses the school's full-time MBA and Ph.D. programs, and the Gleacher Center[12] in downtown Chicago, 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,[13] a short walk from St Paul's Cathedral, hosting the EMBA Program in Europe and Executive Education classes. Lastly, Chicago Booth has a campus in Hong Kong, located in the Hong Kong Jockey Club University of Chicago Academic Complex.[14][15]

Academics

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Chicago Booth offers Full-time, Part-time (Evening and Weekend) and Executive MBA programs. Starting in the 2024–2025 academic year, Booth intends to offer a Master in Finance and Master in Management degrees for recent college graduates who studied humanities, arts, social sciences, biological sciences, or physical sciences in college, and are interested in jobs that value business-oriented skills and knowledge.

The university also educates 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, economics, quantitative marketing research, and accounting, among others. PhD graduates include Cliff Asness and John Liew, who co-founded money management firm AQR, and Ross Stevens, who founded Stone Ridge Asset Management.[16] In April 2023, Stevens donated $100 million to support Chicago Booth's PhD program, which is now named the Stevens Doctoral Program.[17]

Honors

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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.[18]

Research and learning centers

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UChicago Booth School of Business interior

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

Rankings

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Business School
International Rankings
U.S. MBA Ranking
QS (2025)[19]8
Financial Times (2024)[20]6
LinkedIn (2023)[21]9
Bloomberg (2024)[22]2
U.S. News & World Report (2024)[23]3
Global MBA Ranking
QS (2025)[24]14
Financial Times (2024)[25]10


Chicago Booth was ranked #1 by both Forbes and The Economist in 2019. U.S. News & World Report ranks Chicago Booth in 2022 and 2023 as the #1 business school in the United States.[26] U.S. News also ranked the school's executive MBA program #1[27] and its part-time program #1 in the U.S.[28] In 2019, The Economist ranked the school's full-time MBA program as #1 globally.[29] The Economist also ranked Chicago #1 each year from 2012 to 2016 and 2019.[29] The Financial Times Rankings 2019 awarded Chicago Booth third place in Open Executive Education.[30] Poets and Quants ranked the school #2 in their 2019 ranking.[31]

People

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Faculty

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Main article: List of University of Chicago Booth School of Business faculty

The Booth school has 177 professors,[2] and includes Nobel laureates Eugene Fama and Richard Thaler and MacArthur Fellow Kevin M. Murphy.[32] Other notable economists at the school include Luigi Zingales and Raghuram Rajan, and former Chairperson of the Council of Economic Advisers, Austan Goolsbee, who is currently on leave as President of the Federal Reserve Bank of Chicago.[33]

Alumni

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Main article: List of University of Chicago Booth School of Business alumni

The Chicago Booth Alumni has a community of over 49,000 members[34] and is supported by 60+ alumni clubs worldwide.[35] Alumni include Satya Nadella, Jon Corzine, Peter G. Peterson, Philip J. Purcell, Todd Young, Howard Marks, Megan McArdle, John Meriwether, and Susan Wagner.

Publications

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Chicago Booth currently publishes three academic journals:[36]

Chicago Booth Review

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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) 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

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References

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  1. ^ "Dean's Annual Report 2014-2015". The University of Chicago. Archived from the original on October 21, 2016. Retrieved March 22, 2016.
  2. ^ a b c d e "Key Facts". The University of Chicago. Archived from the original on April 22, 2020. Retrieved March 3, 2018.
  3. ^ "Nobel winner Booth Faculty". Archived from the original on 2020-08-08. Retrieved 2020-08-05.
  4. ^ "Chicago Booth History". Archived from the original on 2009-06-02. Retrieved 2009-09-06.
  5. ^ "Subtle Strategist". Financial Times. Financial Times, FT.com. 11 April 2010. Archived from the original on 14 October 2022. Retrieved 12 April 2010.
  6. ^ Hooper, Frederick; Graham, James (1901). Commercial Education at Home and Abroad: A Comprehensive Handbook. Macmillan and Company. pp. 141.
  7. ^ Boyer, John W. (2015-09-23). The University of Chicago: A History. University of Chicago Press. ISBN 9780226242514. Archived from the original on 2022-10-14. Retrieved 2018-12-20.
  8. ^ "Alumnus David Booth gives $300 million; University of Chicago Booth School of Business". University of Chicago News. November 8, 2008. Archived from the original on October 14, 2022. Retrieved July 25, 2019.
  9. ^ "Centennial Report, University of Chicago Magazine, December 1997". magazine.uchicago.edu. Archived from the original on 2006-09-17. Retrieved 2006-09-27.
  10. ^ "History". The University of Chicago Booth School of Business. Archived from the original on 2017-04-07. Retrieved 2009-09-06.
  11. ^ "Explore the Harper Center". Archived from the original on 2022-10-14. Retrieved 2021-10-19.
  12. ^ "Explore Gleacher Center". Archived from the original on 2021-10-19. Retrieved 2021-10-19.
  13. ^ "Learn More about Booth in Europe". Archived from the original on 2021-10-19. Retrieved 2021-10-19.
  14. ^ "Building Connections in Asia". Archived from the original on 2021-10-19. Retrieved 2021-10-19.
  15. ^ Chicago Booth Campuses Archived 2019-02-12 at the Wayback Machine, University of Chicago Booth School of Business, home to the Executive MBA Program Asia, Executive Education courses, and The Hong Kong Jockey Club Programme on Social Innovation.
  16. ^ People. "People". Stone Ridge Asset Management. Retrieved September 18, 2024.
  17. ^ Nietzel, Michael (April 29, 2023). "$100 Million Gift For The University of Chicago Booth School of Business". Forbes.com. Retrieved September 18, 2024.
  18. ^ Honors Archived 2018-11-13 at the Wayback Machine, Booth School of Business, University of Chicago (last accessed March 21, 2017).
  19. ^ "2025 QS Global MBA:United States". Quacquarelli Symonds.
  20. ^ "Financial Times USA MBA Rankings 2024". Financial Times.
  21. ^ "LinkedIn MBA Rankings 2024". LinkedIn.
  22. ^ "Best B-Schools". Bloomberg Businessweek.
  23. ^ "2023 Best Business Schools Rankings". U.S. News & World Report.
  24. ^ "QS Global MBA Rankings 2025". Quacquarelli Symonds.
  25. ^ "Global MBA Ranking 2024". Financial Times. 11 February 2024.
  26. ^ "Best Business Schools". U.S. News & World Report. 2023. Retrieved March 7, 2023.
  27. ^ "Best Executive MBA Programs". U.S. News & World Report. 2020.
  28. ^ "Best Part-time MBA Programs". U.S. News & World Report. 2019.
  29. ^ a b "Full-time mba ranking". The Economist. Retrieved August 3, 2020.
  30. ^ "Business school rankings from the Financial Times – FT.com". rankings.ft.com. Archived from the original on 2020-10-23. Retrieved 2020-01-20.
  31. ^ "Stanford GSB Cruises into First in P & Q's 2019–2020 MBA Ranking". 25 November 2019.
  32. ^ "Kevin Murphy Bio". The University of Chicago. 2017. Archived from the original on January 4, 2018. Retrieved January 3, 2018.
  33. ^ "Board of Governors of the Federal Reserve System". Federal Reserve. Retrieved September 18, 2024.
  34. ^ "Alumni Network". The University of Chicago Booth School of Business. Archived from the original on 2019-03-27. Retrieved 2016-01-20.
  35. ^ "Clubs". The University of Chicago Booth School of Business. Archived from the original on 2020-04-07. Retrieved 2010-05-06.
  36. ^ "Journals". The University of Chicago Booth School of Business. Archived from the original on 2021-02-16. Retrieved 2021-02-23.
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