![]() It utilizes a 4-1-4-based academic calendar. It has a total undergraduate enrollment of 4,512, its setting is urban, and the campus size is 168 acres. Secretary General Kofi Annan and Federal Reserve Bank Chairman Ben Berna Massachusetts Institute of Technology is a private institution that was founded in 1861. Distinguished alumni include Apollo 11 astronaut Buzz Aldrin, former U.N. The "Independent Activities Program," a four-week term between fall and spring semesters in January, offers special courses, lectures, competitions and projects. Research expenditures at MIT have typically exceeded $650 million each year, with funding coming from government agencies such as the Department of Health and Human Services and Department of Defense. Among its graduate schools are the highly ranked School of Engineering and Sloan School of Management, in addition to strong programs in economics, psychology, biology, chemistry, earth sciences, physics and mathematics. MIT focuses on scientific and technological research and is divided into five schools and one college.
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