NEW BUSINESS SCHOOL OPENS

Tomorrow under the direction of Dean Edwin F. Gay will begin the first academic year of the Graduate School of Business Administration, which was established in March, 1908, by votes of the President and Fellows and of the Board of Overseers of Harvard College.

By creating a Graduate School of Business Administration, Harvard University undertakes to do its share in meeting what is believed to be a growing need for efficient and systematic business training, and it plans this service to the community in the spirit which animates its general scheme of professional education.

The unique feature of the School, however, both in Harvard experience and in the educational world, is that, unlike other professional schools, of law or medicine, which started with low requirements for admission and graduation and gradually raised their standards, the new school starts with the requirement of a college degree for admission. Upon that foundation of liberal education it rests a severe two years' course, partly prescribed and partly elective, leading to the degree of Master of Business Administration and representing work in the following special fields: Banking and Finance, Accounting and Auditing; Insurance, Industrial Organization, Transportation, Commercial Law, Economic Resources, and Public Service. In the first year there will be prescribed courses in Commercial Law, Accounting, and Commercial Geography, and an opportunity of electing one or two other courses in subjects bearing on the specialty of each student. In the second year, courses will be chosen with more concentration of work on the chosen specialty, and in this sense will be elective; but each student will be required to select his courses in accordance with a carefully prepared plan approved by the School.

In addition to a variety of courses in the subjects mentioned above, the resources of the Faculty of Arts and Sciences may be drawn upon for advanced instruction in such fields as geography, mathematics, or engineering, whenever these subjects are shown to have an important bearing on the student's ultimate line of business. Courses in French, German, and Spanish Correspondence will be offered with the special object of enabling graduates of the School to read and write letters in these languages and to understand the accepted forms of business correspondence. Students who pass in the first year's work in Commercial Law will be admitted to courses in the Law of Sales, Agency, Insurance, Admiralty, Quasi-Contracts, Municipal Corporations, and Public Service, given by the Faculty of Law. In addition to students regularly enrolled as candidates for degrees, the School will admit as special students mature persons qualified by business experience or otherwise to take single courses.

Two of the most important courses to be offered will be those on "Corporation Finance" and "Industrial Organization." Each of these courses, while in charge of a professor, will consist almost wholly of lectures given on various aspects of the subject by a number of practical business men of high standing in the community. Among those who have been engaged to lecture on Corporation Finance are Herbert Knox Smith, Commissioner of Corporations in the U. S. Department of Commerce and Labor, Frederick P. Fish, Professor Edwin S. Meade of the University of Pennsylvania, James F. Jackson, ex-chairman of the Massachusetts Rail-road Commission, C. C. Burlingham of New York, receiver of the Westinghouse Company, Judge C. M. Hough of the U. S. District Court for the Southern District of New York, F. A. Cleveland of the New York Bureau of Municipal Research, and G. W. Wickersham, the New York lawyer.

Owing to the considerable demand from business men in Boston for an opportunity of attending the course in Corporation Finance, it has been decided to give this course at 4.30 instead of at 2.30 P. M.

One of the most important features of the School will be the practical work required of each student in the summer. The object of this work will be two-fold, first, to teach the students from practical experience and observation the elements of business that cannot be taught in the class-room, and secondly, to bring them in contact with the men with whom their life work is to be done. Incidentally the summer work will be useful in accustoming every student to the rough work and routine through which, if at all, his university training may enable him to rise. The School does not pretend to graduate men who will begin at the top or high up in their several lines of business. It does aim to teach, them how to work and how to apply powers of observation, analysis, and invention to practical business problems.

Classes will begin on Friday. A pamphlet has been issued giving details of the opening work. Further information may be obtained from Professor E. F. Gay, Dean of the Graduate School of Business Administration, 23 University Hall