The University of Pennsylvania (commonly referred to as Penn or UPenn) is an American private Ivy League research university, established in 1740 and located in Philadelphia, Pennsylvania. Founded by Benjamin Franklin, it is one of the Colonial Colleges and one of 14 founding members of the Association of American Universities.
Penn was one of the first academic institutions to follow a multidisciplinary model pioneered by several European universities, concentrating multiple “faculties” (e.g., theology, classics, medicine) into one institution. It was also home to many other educational innovations. The first school of medicine in North America (Perelman School of Medicine, 1765), the first collegiate business school (Wharton, 1881) and the first student union (Houston Hall, 1896), were all born at Penn.
The Wharton School, established through a donation from Joseph Wharton, is the business school of the University of Pennsylvania. The school’s faculty is the world’s most published and most cited among business schools, and both Business Week and The Financial Times have consistently ranked Wharton among the world’s top institutions for business education. The Wharton School is the only undergraduate business school in the Ivy League.