Wharton School

The Wharton School ( WHOR-tən) is the business school of the University of Pennsylvania, a private Ivy League research university in Philadelphia. Established in 1881 through a donation from Joseph Wharton, a co-founder of Bethlehem Steel, the Wharton School is the world's oldest collegiate business school. It is one of six Ivy League Business Schools, and is the business school which has produced the highest number of billionaires in the US.

The Wharton School awards undergraduate and graduate degrees with a school-specific economics major and concentrations in over 18 disciplines in Wharton's academic departments. The undergraduate degree is a general business degree focused on core business skills. At the graduate level, the Master of Business Administration program can be pursued by itself or along with dual studies leading to a joint degree from its law, engineering, and government schools.

In addition to its tracks in accounting, finance, operations, statistics, and other academic departments, the doctoral and post-doctoral programs co-sponsor several diploma programs in conjunction with other schools within the university.





== History ==





=== Founding ===



Joseph Wharton, a native Philadelphian, was a leader in industrial metallurgy who built his fortune through the American Nickel Company and Bethlehem Steel Corporation. As Wharton's business grew, he recognized that business knowledge in the United States was only taught through an apprenticeship system, and such a system was not viable for creating a wider economy during the Second Industrial Revolution.

After two years of planning, Wharton in 1881 founded the Wharton School of Finance and Economy through a $100,000 initial pledge, making it the first business school established in the United States. ESCP Europe, established in 1819, and a few other business schools were established in Europe prior to Wharton's founding The school was meant to train future leaders to conduct corporations and public organizations in a rapidly evolving industrial era.