College of Business and Economics

Lehigh University introduced business courses in 1898, nearly two decades after the opening of The Wharton School of Business and Economy, the first business college in the United States. These courses included economics, finance, and business law. John Lanney Stewart, a graduate from the Wharton School of Business and Economy, was the sole professor for these courses.

The 1909 Register announced the courses in business administration for the first time. It listed the required courses as economics, finance, accounting, business law, mining, metals, and transportation industries. These business courses were offered through the arts and sciences department. As a result, Enrollment in the arts and science department increased greatly due to the business offerings. With this popularity, the Board of Trustees promised to strengthen the faculty teaching for business courses.

In 1918, the College of Business Administration was formed due to the fact that the business world had become more and more complicated and technical. In 1918, 27 courses were offered: 77 students enrolled in these classes, which took place at Christmas-Saucon Hall. During this time period, the College of Engineering enrollment was up to over 900. In 1923, the University named Dr. Neil Carothers the head of the College of Business Administration.

In 1935, as Deanships were created, Carothers was the first dean of the College of Business. This proved to be a successful move, as the college became a member of the American Association for Collegiate Business Schools. This association acknowledges high performing business schools in hope to raise business standards around the country. During World War II, many faculty members were involved in war duties. In 1943, only 472 students enrolled at Lehigh, a mere 28 of these in the College of Business Administration. Fortunately, once the war ended, enrollment in the University was up to 3,025 with a high of 728 in The College of Business Administration.

Once the college moved locations to Drown Hall in 1950, The College of Business Administration began a Masters in Business Administration in 1951. Its purpose was to develop young men for top positions in management. This program was also available for students who did not graduate with a business degree, but who were still interested in Lehigh’s MBA program. The first degree was awarded in 1953.

Despite the college’s overall successful trend, the administration suffered for a few years following the deanship of Carl Allen. Carl H. Madden took up after Allen and struggled with the faculty and the board of trustees to be productive. Madden took a leave of absence only to never return, leaving the college vulnerable. Luckily, Reed Tripp took deanship and proved to revitalize the college. In 1964, the college received it’s first donations. The Richard K. Mellon Foundation donated one hundred thousand dollars for a Frank L. Magee Professorship in Business Administration. Additionally, Dreyfus and Company (a firm on Wall Street started by Lehigh’s own Jack Dreyfus) donated twenty thousand dollars in hopes of giving students a real experience with investing.

In 1966, the college reorganized and began offering majors in a variety of new fields that included economics, economic statistics, finance, foreign careers, marketing and accounting. After this major remodeling of the school’s programs, the college changed it’s name to the College of Business and Economics to better represent it’s focuses. This made the college stand out as a versatile organization with a broad array of skills to be taught to it’s students.

This broadening of programs was a widespread trend in higher education and was a part of modern advancements that changed the business world and business education along with it. With the introduction of computers and the introduction of a four-semester set of mathematics courses tailored to probability and calculus (an advancement for business students because they originally had to take an engineering oriented math course), the College of Business and Economics found itself at a new height of both productivity and popularity.

In 1978, Richard Barsness served as dean and recognized that the college’s growing popularity meant that drown hall was not large enough to house all of the business classes. A plan was initiated to tear down Taylor Stadium and build the Philip Rauch Center for Business Communications. The building was finished in 1990 and has since marked the ascent of the College of Business and Economics to becoming as reputable as it is. Lehigh University has always been known for it’s engineering school, but in 2014 it’s business program is widely recognized as one of the top in the country.

Will McCurdy '18 and Peik Shelton '18