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In 1933, Purdue’s first graduate earned a bachelor’s degree in economics and he earned the first Purdue Master of Science in Economics the next 12 months. Eventually, the college turned the School of Industrial Management, which it remained until 1958 when the Department of Economics was shaped as part of the School of Science, Education and Humanities. In 1960, Purdue developed a relationship with Herman C. Krannert when he accepted Business Plan Template a management improvement program designed for executives who worked at his firm. The program was taught at Purdue, and, in 1962, a $2.73 million endowment from Herman and Ellnora Decker established Purdue’s first named faculty.