The famed Massachusetts Institute of Technology, commonly known by its initials as MIT is a privately managed research university situated in Cambridge, Massachusetts. MIT demonstrates a dynamic emphasis on technological and scientific research. Featuring one college and five schools, MIT contains no less than 32 academic departments.
The renowned institution was created in 1861 as a result of the United States’ rapid industrialization in that period of time. The newly founded institution chose to follow the European polytechnic university model, providing a strong foundation in laboratory work. In its early years close affinity with cutting-edge industry came about as a result of MIT’s focus on applied technology at both graduate and undergraduate levels. However later reforms in its curriculum saw a change in focus towards fundamental research in the sciences. The Massachusetts Institute of Technology was accepted into the Association of American Universities in 1934.
The research staff at MIT were in the vanguard in research into radar, computers and inertial guidance for military technology at the time of World War II and during the Cold War. In fact during the latter post-war era defense research greatly contributed towards the brisk development of the campus and number of faculty members.
Over the past half century the educational departments at MIT have expanded in scope, and you will now find such disciplines as economics, biology, political science, management and linguistics in addition to the earlier staples in the fields of engineering and the physical sciences.
In recent years MIT has enrolled more than 4,000 undergraduate students and over 6,000 graduate students each year. More than 1,000 academic staff members are on the faculty. Over the years 76 Nobel Laureates, 35 MacArthur Fellows and 50 National Medal of Science winners have been associated with the institute.
In 2009 the university received an endowment of $8 billion and expended $718.2 million in research related expenditures. The Massachusetts Institute of Technology fosters a dynamic entrepreneurial atmosphere and it has been said that the combined income of companies created by MIT alumni would be equivalent to the 17th largest economy on the globe.
Various events and festivals open to the general public are conducted by MIT.
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