Yes, it is very important not to confuse the undergraduate business programs with the graduate programs. Many of the top MBA schools don't even have an undergraduate business program at all. Examples of this would be: Harvard, Stanford, Duke, Yale, Northwestern, UCLA, and the University of Chicago.
Also, Business Week's list tends to give more emphasis to how the students and placement people rate the schools than the academics overall. Thus, if you look at USNWR's rankings, they will be quite a bit different.
On USNWR's list, schools ranking significantly higher than on BW's list would be: USC (9th), Indiana (11th-tie), Illinois (13th), and Carnegie Mellon (8th).
On USNWR's list, schools ranking significantly lower than on BW's list would be: BYU, and Notre Dame (neither makes top 25)--also Villanova drops to about 16th and Cornell to 11th (tied with Indiana).
Last edited by Calcruzer; 12-18-2008 at 02:03 PM.