In 1961, The College of Business was formed with departments of Business Education, Accounting, Management and Finance, and Marketing. Dr. Robert Thistlethwaite was honored by being named the first dean of the college.
The College began offering an Ed.D. in Business Education and an M.S. in Accounting Science in 1962.
As the Management and Finance department grew the decision for the creation of distinct departments resulted in the creation of, in 1963, the Finance Department and the Management Department.
Wirtz Hall, the new home for the college, was completed at a cost of $1.75 million.
Built in 1964, Wirtz Hall was named for William W. Wirtz, a professor of foreign languages from 1910-1918 and former member of NIU's governing board from 1949-1953.
In 1967, the first M.B.A. degree was awarded and the Master of Accounting Science degree was established. By 1969, the College of Business undergraduate programs were accredited by the AACSB.