This is probably the oldest MIT song still in reasonably common circulation. It's still sung (I believe) by the MIT Logarhythms, and appears in the MIT Songs section of How to GaMIT. The lyrics suggest that it might even date back to the period when MIT was Boston Tech, at the turn of the last century. (See the bits about Boylston Street and uniforms.)

I'm not an expert on MIT history, I just think it's neat. Corrections are appreciated. Lyrics taken from the 1998 online edition of How to Get Around MIT.

Take Me Back to Tech

I wish that I were back again at Tech on Boylston Street,
Dressed in my dinky uniform so dapper and so neat.
I'm crazy after calculus, I never had enough;
It's hard to be dragged away so young,
It was horribly awfully tough!
Hurrah for Technology, 'ology 'ology oh,
Glorious old Technology, 'ology 'ology oh!
Back in the days that were free from care in the 'ology varsity shop,
With nothing to do but analyze air in an anemometrical top.
The differentiation of the trigonometric pow'rs
The constant pi that made me sigh in those happy days of ours.
Hurrah for Technology, 'ology 'ology oh,
Glorious old Technology, 'ology 'ology oh!
Take me back on a special train to that glorious institute,
I yearn for the inspiration of a technological toot.
I'd shun the quizzical physical profs the chapel and all that,
But how I'd love to go again on a scientific bat.
Hurrah for Technology, 'ology 'ology oh,
Glorious old Technology, 'ology 'ology oh!
C-H-N-O-L-O-G and Y comes after G
(and what does that spell?)
The Massachusetts Institute of Technology!