The UW-Madison School of Business undergraduate program moved up two spots, from 14th to 12th in the newest U.S. News and World Report ranking.
The School of Business has wavered between the 14th and 10th spots on the list for the past five years, according to School of Business Dean Michael Knetter, in a survey he says is fair but not particularily scientific.
The rankings are based on the results of a survey taken by deans and senior faculty of accredited business schools which asks them to rate the quality of undergraduate programs nationwide.
Two UW-Madison business programs in particular were ranked highly. The Real Estate program and the Insurance program were ranked third and fourth, respectively.
\I feel objectively our undergrad program is stronger than is indicated by a number-four ranking in terms of quality of students, faculty, curriculum and placement,"" said Kerry Vandell, Tiefenthaler Professor of Real Estate and Urban Land Economics.
""The new ranking results from a fundamental commitment by the state, the university and our alumni to excellence in education and research. Extremely talented faculty, administrative staff and students are drawn to the programs as a result,"" said Mark Browne, professor of actuarial science, risk management and insurance.
The business school's high rank can be partially attributed to the school's emphasis on quality education and the need to acquire real-world job skills.
""Students learn practical skills, get numerous opportunities to interact with industry professionals, and can travel both domestically and internationally to see how real estate markets work in other places,"" said Timothy Riddiough, director of the Center for Real Estate at UW-Madison.
By gaining experience in their respective fields while still in the business school, students are able to not only broaden their horizons but also to make themselves more valuable to employers after graduation.
""Bloomberg Markets magazine recently established that Wisconsin and Harvard have graduated the most CEOs of S&P 500 companies today,"" Knetter said. ""We want to make sure that 20 years from now we still have that kind of track record.""
The business school's faculty should also be given credit for the impressive ranking. According to Caitlin Fitzpatrick, a senior majoring in Real Estate and Accounting, quality instructors with real-world expierence are able to bring that experience back and integrate it into their teaching methods, which has helped contribute to the excellence of the business school.
But it is not just the professors.
""Best part about teaching? The smart, energetic, creative students,"" Riddiough said.
Currently there are about 1,300 undergraduate students enrolled in the business school and more apply for admission each semester.
""I did my undergrad work at UW, and the students continue to get better and better. Given the current level of competition, I would have never been admitted into UW-Madison in the first place-no lie,"" Riddiough said.
