The business school is part of the research university, a twentieth-century invention that established the research profession and professoriate and integrated the values of professional science into higher education and in industry. The research university performed two new values and purposes, knowledge discovery and occupational training, in addition to the university's traditional function of cultural preservation. In and through the research university, the business school and the college acquired professional status that exceeded that of the previous sole profession, the ministry. Both institutions, and the research university in general, organized under the value of specialization and the value-creating synergy between basic science and applied science. Science was professionalized in the technical institute and the graduate school, as exemplified by the Carnegie Institute of Technology and the University of Chicago, respectively. This chapter discusses the history of the research university and the rise of the scientific tradition. It looks at the classical college, the scientific school, and University Extension.