Massachusetts Institute of Technology - MIT

The Massachusetts Institute of Technology (MIT) is a private research university located in Cambridge, Massachusetts, United States. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological research. MIT is one of two private land-grant universities[b] and is also a sea-grant and space-grant university.

MIT is chartered as a non-profit organization and is owned and governed by a privately-appointed board of trustees known as the MIT Corporation. The current board, with 74 members drawn from scientific, engineering, industry, education, and public service leaders, is chaired by Dana G. Mead. The corporation approves the budget, new programs, degrees, and faculty appointments as well as electing the President to serve as the chief executive officer of the university and presiding over the Institute's faculty. Susan Hockfield is the 16th president and has served since December 2004. MIT's endowment and other financial assets are managed through a subsidiary MIT Investment Management Company (MITIMCo). Valued at $10.068 billion in 2008, MIT's endowment is the sixth-largest among American colleges and universities.

MIT is "a university polarized around science, engineering, and the arts." It has five schools (Science, Engineering, Architecture and Planning, Management, and Humanities, Arts, and Social Sciences) and one college (Whitaker College of Health Sciences and Technology), but no schools of law or medicine. The chair of each of MIT's 32 academic departments reports to the dean of that department's school, who in turn reports to the Provost under the President. However, faculty committees assert substantial control over many areas of MIT's curriculum, research, student life, and administrative affairs.

MIT students refer to both their majors and classes using numbers or acronyms alone. Majors are numbered in the approximate order of when the department was founded; for example, Civil and Environmental Engineering is Course I, while Nuclear Science & Engineering is Course XXII. Students majoring in Electrical Engineering and Computer Science, the most popular department, collectively identify themselves as "Course VI." MIT students use a combination of the department's course number and the number assigned to the class to identify their subjects; the course which many American universities would designate as "Physics 101" is, at MIT, simply "8.01."