Officially founded in 1906 as the Department of Commerce within the Faculty of Arts, the Faculty of Management originated from a two-year commerce program. The Commerce program is named the School of Commerce, and the first Bachelor of Commerce (BCom) degrees are awarded by McGill in 1915. The McGill School of Commerce was founded in 1920, independent of the Faculty of Arts. The Graduate School of Business Administration was established in 1963 and graduated its first MBA class in 1965. The Graduate School of Business Administration was later merged with the School of Commerce in 1968 to form the Faculty of Management.