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Wharton Business School in the University of Pennsylvania, Philadelphia, Pennsylvania, is one of the best and most recognized schools of business in the United States. It is, in fact, the very first American business school to be developed. Wharton is a highly respected academic institution for would-be businessmen and entrepreneurs-in-training. It is also the institution of choice for many beginners in business who want to learn from some of the best instructors in the world.

Early history

Wharton Business School began as The Wharton School of Finance and Economy in 1881, actually the first school of business in the world. It was founded by Joseph Wharton, a philanthropist and industrialist in Philadelphia. Wharton had built his empire focusing on industrial metallurgy, running both the Bethlehem Steel Corporation and the American Nickel Company.

Wharton had dreamt of building a school that will educate and develop students for future jobs as leaders in both business and the government. As an academic institution, the Wharton School was the very first to publish textbooks in business, the first to establish an entrepreneurship center, the first to create a program for students in international management, the first to establish a Master's program in real estate and healthcare, the first to develop a program for executive development and the first to establish a research center.

The Wharton School symbol, the anvil, is a homage to its founder's contributions to the industry of metal and metal works.

Wharton Business School academics

The academic programs available in the Wharton Business School include:

Undergraduate Program

The four-year undergraduate program has a total of 37 courses, all of which allow a student to earn a degree in Bachelor of Science in Economics. The courses include, among others, subjects in accounting, finance, informational management and marketing.

MBA Program

The MBA Program at Wharton is one of the most famous in the U.S. and around the world. It is one of the few masteral in business programs that allow students to create their own major, individualized according to their desired courses of study and preferences. All they have to do is complete a core curriculum for their first year and then proceed to complete the master's program according to their goals and interests.

The highest honor in the MBA Program is called the Palmer Scholar, which is conferred to the graduating class' top 5%. Students who complete the first year of their MBA program with the highest cumulative GPA are given the Ford Fellowship.

Doctoral Program

The Doctoral Program at Wharton Business School offers 12 fields of specialization. This program is full-time and awards successful students with a PhD instead of a DBA that other programs offer. The program will require at least 4 years to complete and includes specializations such as Business & Public Policy, Statistics, Real Estate, Insurance & Risk Management, Finance and Ethics & Legal Studies, among others. Students entering the Doctoral Program are funded.

Students and Alumnae

The Wharton Alumni network boasts of over 81,000 members spread across more than 140 countries. To date, there are 82 alumni clubs often participating in the annual reunion, along with Global Alumni Forums. Some of the more famous Wharton Business School graduates include many of the presidents, CEOs and chairman of the top companies in the world, business and political leaders around the world and academic pioneers.

Admissions

The admissions policy at Wharton is one of the toughest and most selective. Student applicants will be required to have excellent scores in GMAT, high GPA and a list of credentials usually considered essential for admission.

Generally, applications to Wharton Business School are accepted using two methods: the paper format and online through www.wharton.upenn.edu. Application requirements to different programs may vary.