- guys One of the effects of the Industrial Revolution was the creation of formal business education in the United States. Specialized institutes began cropping up around the nation to provide training for men and women. They were taught special skills in the disciplines of office procedures, stenography, bookkeeping, and filing. As formal business education evolved, more specialized institutions of learning emerged, focusing in areas such as business management, accounting, and economics. The Wharton School of Finance and Commerce, at the University of Pennsylvania, gained the distinction of becoming the first institution created for such specialized training. Below are links to information about education and higher learning in the areas of business and finance.