The Joseph L. Rotman School of Management commonly known as the Rotman School of Management, the Rotman School or just Rotman, is the University of Toronto's graduate business school, located in Downtown Toronto. The University of Toronto has been offering undergraduate courses in commerce and management since 1901, but the school was formally established in 1950 as the Institute of Business Administration, which was then changed to the Faculty of Management Studies in 1972 and subsequently shortened to the Faculty of Management in 1986. The school was renamed in 1997 after the late Joseph L. Rotman (1935–2015), its principal benefactor.