What Is the Booth School of Business?

The University of Chicago’s Booth School of Business—often referred to colloquially as the “Booth School”—is the graduate business school of the University of Chicago. It is generally considered one of the finest graduate business schools in the world, with its Master of Business Administration (MBA) program rated as the #1 MBA program in the world by both Forbes and The Economist in 2019.

The Booth School holds the special distinction of having produced 28 Nobel laureates in the field of economics, more than any other institution. Founded in 1898, it is the second-oldest business school in the United States, second only to the University of Pennsylvania’s Wharton School.

Key Takeaways

  • The Booth School is a graduate business school located at the University of Chicago.
  • It has long been considered among the finest business schools in the world.
  • The school is known for its quantitatively rigorous orientation and for its unmatched influence within the field of economics.

Understanding the Booth School of Business

Located in Chicago’s Hyde Park neighborhood and with ancillary campuses in London and Hong Kong, the Booth School is known for its MBA program as well as its advanced research in quantitatively demanding fields such as finance and economics. In addition to its full-time MBA program, the school offers Ph.D. programs as well as weekend and evening MBA programs. Moreover, the Booth School was the first of any American B-School to offer an Executive MBA program (EMBA).

Among the 12 research and learning centers located at Chicago Booth are the Fama-Miller Center for Research in Finance, the George J. Stigler Center for the Study of the Economy and State, and the Becker Friedman Institute for Research in Economics. These institutions all bear the names of illustrious individuals famous for their ground-breaking work at the University of Chicago.

Specifically, Eugene Fama and Merton Miller are both Nobel laureates who made famous contributions to the field of financial economics—including the Modigliani-Miller theorem and the Fama and French Model. Similarly, George J. Stigler, Gary Becker, and Milton Friedman are all Nobel laureates and pioneers of the so-called Chicago School of Economics.

Real-World Example of the Booth School of Business

Today, the Booth School’s full-time MBA program is known for offering a curriculum that is both flexible and rigorous. It requires students to complete 20 courses in areas such as accounting, operations management, economics, and statistics. Special courses on leadership are also required, including one mandatory course called Leadership Effectiveness and Development (LEAD).

Upon graduation, Booth School graduates join an alumni network over 50,000 strong. This community includes many notable members, such as Satya Nadella, CEO of Microsoft (MSFT); Jon Corzine, former CEO of Goldman Sachs (GS); and Howard Markets, founder of Oaktree Capital Management.