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Most of the university business schools are faculties, colleges or departments within in the university, and teach predominantly business courses. The first such 'collegiate business school' is Wharton , founded in 1881. In North America a business school is often understood to be a university , it initially taught at the undergraduate level as well. Most business schools are faculties, colleges or departments within in a university, and teach predominantly business courses. Also in North America the term "business school" can refer to a different type of institution: a two-year school that grants the Associate's Degree in various business subjects. Most of these schools began as secretarial schools, then expanded into accounting/bookkeeping and similar subjects. They are typically operated as businesses, rather than as institutions of higher learning. In Europe and Asia, some universities teach business only. The oldest business school in the world, the Ecole Supérieure de Commerce in Paris ESCP , was founded in 1819. BUSINESS SCHOOL FIRSTS
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