The New University of Lisbon (Portuguese: Universidade Nova de Lisboa, pronounced [univɨsiˈdad(ɨ) ˈnɔvɐ dɨ liʒˈboɐ], also known as Nova or UNL for short) was established in 1973 and is the youngest of the three public universities of Lisbon, in Portugal. Since 2006, the THE - QS World University Rankings has ranked the New University of Lisbon as one the world's 500 best universities. The university is especially strong in the field of Arts and Humanities, being ranked number 245 in the world in 2008, as well as in the Business and Economics field. It was created in 1973 as part of a program of expansion and diversification in higher education in Portugal and was a response to ever an increasing demand for higher education in the city and surrounding areas of Lisbon. During its first years, the University offered mainly graduate and specialist programs. Since the end of 1977, when the first regular programs started, the university has been expanding steadily. The University, as well as its Units, enjoys scientific, academic and administrative autonomy and, as a state institution, is mainly funded by Ministry of Higher Education and Science.