Established in 1972, the Graduate Institute of Management Sciences offered the master's degree in management sciences concentration on system analysis. Two more concentrations, management sciences and management information system, were added in the following year. In 1975, it began to offer the PhD degree in management sciences. Concentration on managerial economics was added to the master's program in 1978. In 1998, the name of the graduate institute of management sciences was changed into the department of management sciences which offered the undergraduate degree in management sciences. In the academic year of 2002, the department splits into two units. One is called the Department of Management Sciences and Decision Making that offers the undergraduate degree; the other unit is called the Graduate Institute of Management Sciences that offers the MBA, EMBA, and PhD degrees.