The College of Liberal Arts offered business courses as earch as 1923. A separate School of Business Administration was created in 1928. By the twenty-first century the Farmer School of Business has six departments: accountancy; decision sciences,; and management information systems; economics; finance; management; marketing; as, at Hamilton and Middletown, business technology. Master's degrees in business administration; accountancy, and economics were offered, and faculty and students flocked to the Institute for Entrepenerial Excellence; Center for Governance, Risk Management and Reporting; and Interactive Media Studies. In 2007 thanks to a 30 million leadership gift from Richard and Joyce Farmer Family Foundation, the school broke ground on a new world class facility for the school, with plans to open in 2009.