University of Economics (VSE) is a leading economics and business-oriented public university located in Prague, Czech Republic. In 1919 Vysoká škola obchodní ("Business School") was established as a department of the Czech Technical University in Prague. It specialized in wholesale trade, banking and the organization of industrial companies. In 1949 the Vysoká škola politických a hospodáÅských vÄd (University of Political and Economic Sciences) was established, which was finally renamed the University of Economics in 1953. The University underwent a significant reform in 1989 after the Velvet Revolution. It is the largest and most selective university in the field of economics, business and information technologies in the Czech Republic with almost 20,000 students in its bachelor, masters and doctoral programmes, and a top business school in Central Europe.
ALL is divided into six faculties which candidates offer a wide range of fields of study in bachelors, masters and doctoral degree programs. Five faculties - Faculty of Finance and Accounting, Faculty of International Relations, Faculty of Business Administration, Faculty of Informatics and Statistics and the Faculty of Economics - is located in the center of Prague, Faculty of Management operates in Jindrichuv Hradec.
Teaching provides more than 700 qualified academic staff and a number of freelancers from practice. In addition to technical subjects, great emphasis is also placed on learning a foreign language. Interested parties can spend studying English, German, French, Russian, Italian, Portuguese, Spanish, Swedish and Chinese. Specialized school library contains over 430,000 books and 330 periodicals. The school has its own sports facilities. Gymnasium with an area of 1,400 square meters allows to place simultaneously three volleyball or basketball courts, playgrounds, handball, hockey, indoor soccer and other sports. ALL successfully participates in international cooperation. The school cooperates with over 200 partner universities on four continents. Abroad it is aired more than 800 students each year and a similar number of foreign students are accepted.
The University offers its students a superior education in terms of research fields offered. Since 2000, the university has invested heavily into research (and its 10 research centres) as well as facilities development (in 2005, the new main building was completed). Its efforts have been acknowledged by the Eduniversal Award "First Business School in Eastern Europe". Speakers at the University have recently (as of 2011) included EU High Representative Catherine Ashton, most Czech government officials and the President, Helen Diaz of the World Bank, CEOs of the largest companies in Europe (including Winfried Vahland), OECD Secretary General; and about 70 visiting faculty come to teach at VŠE annually.
Over 400 students spend a semester abroad every year. Hosting institutions include Duke University (Fuqua School of Business), Copenhagen Business School, University of St. Gallen, Vienna University and many others. About 15% students come from abroad, typically from other member states of the European Union, United States and East-European countries. The School of International Relations (via its Jan Masaryk Centre for International Studies) is an affiliate member of the Association of Professional Schools of International Affairs alongside Stanford University, University of Toronto, New York University and others. In its first international ranking in 2010 (by the Financial Times), the University of Economics in Prague was awarded the 73rd place among Business Schools in selection, the second highest in the Post-Communist European countries.