London School of Economics
The London School of Economics was founded in 1895 by Beatrice and Sidney Webb, initially funded by a bequest of £20,000 from the estate of Henry Hunt Hutchinson. Hutchinson, a lawyer and member of the Fabian Society, left the money in trust, to be put "towards advancing its [The Fabian Society's] objects in any way they [the trustees] deem advisable". The five trustees were Sidney Webb, Edward Pease, Constance Hutchinson, William de Mattos and William Clark.
Adam Smith School of Economics and Finance
The Adam Smith Business School (formerly known as 'Adam Smith School of Economics and Finance') at Glasgow University continues an academic record which dates back to the father of economics, Adam Smith (1723–1790). Serving as Professor of Moral Philosophy, he published a series of seminal works such as The Theory of Moral Sentiments, The Wealth of Nations and Lectures on Jurisprudence; the culmination of which set a foundational precedent for classical economic theory 300 years after the university's inception in 1451.