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Luigi Bocconi University was established in Milan (Italy) in 1902 with a generous endowment from Ferdinando Bocconi, a wealthy merchant who thereby meant to commemorate his son Luigi disappeared in the battle of Adowa (Ethiopia, March 1st 1896) during the colonial war. Bocconi University was the first Italian institution of higher education to grant a degree in economics.
Bocconi is a private institution, but promotes and practices equality of opportunity among its many generations of students, by actively subsidizing the education of disadvantaged students; its first Rector and President,