The Aalto University School of Economics (Aalto ECON, Finnish: Aalto-yliopiston kauppakorkeakoulu; Swedish: Aalto-universitets handelshögskola), known as Helsinki School of Economics (HSE) until 2009, is the largest and leading business school in Finland and one of the most renowned in Europe (refer to Rankings and Accreditations for details). Founded in 1911, it is the oldest business school in Finland and one of the oldest business schools in the Nordic countries. The school became part of Aalto University as of 1 January 2010. Consisting of about 3,500 students and 500 researchers, the Aalto University School of Economics is an innovative and lively community conducting high-quality research with close relations with the business community. The Aalto University School of Economics was established in Helsinki in 1904 by the business community and was given the status of a university in 1911. It operated as a private university until 1974, when the state of Finland was given the financial responsibility of the university. Nevertheless, the school has remained autonomous in its administration and internal affairs.