Just who was W. P. Carey, anyway?
ASU's business college marks 60 years
Nearly 100,000 people have been launched into the business world from Arizona State University.
It's an impressive number, and only after six decades of work.
The W. P. Carey School of Business is marking its 60th anniversary as a standalone college this year, having started out as the College of Business Administration in 1955 with 800 students and 11 faculty. This year, the school has more than 10,000 undergraduates, nearly 1,000 graduate students and more than 250 faculty members — including a Nobel laureate.
Amy Hillman, dean of the college, is proud of the school's past, but is also looking ahead.
"Out of humble beginnings, ASU's W. P. Carey School of Business has accomplished extraordinary things over its 60-year history," she said. "We are a story of pioneers, visionaries, innovation and leadership — a story of faculty, staff, students and administrators forging new areas of study for a world constantly changing through technology and increasing globalization.
"What is most striking about this story, though, is that it’s still being written. We are proud of where we came from and even more excited about where we are going."
Looking into the future is rather difficult, so let's examine portraits of history from one of ASU’s biggest colleges.
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1916 — The Tempe Normal School begins offering a “commerce” class. A few years later, students would be able to choose a business career or secretarial track.
University Archives, Arizona State University Libraries
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1946 — With soldiers returning from World War II and attending college on the GI Bill, Arizona State College anticipates more interest in careers other than teaching, so a bachelor of science in business administration is offered. A state-of-the-art business administration building is built in 1950.
University Archives, Arizona State University Libraries
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1955 — The College of Business Administration is founded. The goal was to match education to real-world business requirements. Two years later, master’s degrees were offered and the executive-education program was launched.
University Archives, Arizona State University Libraries
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1980 — Glenn Overman retires after 25 years as the dean of the college. During his era, a new business administration building was completed and then expanded. Also, the school became accredited by the Association to Advance Collegiate Schools of Business and started a cooperative program with the Universidad Autonoma de Guadalajara in Mexico.
University Archives, Arizona State University Libraries
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1995 — The college is 25th in U.S. News and World Report’s first ranking of undergraduate business programs. Three years later, the technology-focused executive MBA program debuts in Beijing.
University Archives, Arizona State University Libraries
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2003 — William Polk Carey announces a $50 million gift on behalf of the W. P. Carey Foundation to endow the college of business, which is named for him. It is the largest gift in ASU’s history. Carey, who made his money through a corporate real-estate financing firm bearing his name, is the grandson of John Samuel Armstrong, the legislative founder of ASU.
University Archives, Arizona State University Libraries
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2004 — W. P. Carey faculty member Edward C. Prescott becomes ASU’s first Nobel winner. He shares the Nobel Memorial Prize in Economic Sciences with Finn Kydland of the University of California, Santa Barbara, for their contributions to dynamic macroeconomics.
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2013 — Amy Hillman becomes the first female dean of the school.
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2015 — The W. P. Carey School of Business offers 28 undergraduate majors, 14 master's and eight doctoral programs. A bachelor’s in retail management is created as part of ASU’s innovative “College Achievement Plan” partnership with Starbucks. There are nearly 100,000 undergraduate and graduate alumni.
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