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In a ranking released last week by Bloomberg Businessweek of the best business schools nationwide, the Wharton School came in third for master's of business administration.

The rankings were determined based on surveys from students and recruiters, both comprising 45 percent of the total portion. The remaining 10 percent was based on faculty research.

Up one place since the last rankings were released in 2008, Wharton nonetheless dropped seven spots in the student surveys.

While students gave Wharton an A grade in terms of career services, teaching received a C.

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