The Saint Petersburg State University of Engineering and Economics is one of the oldest universities in Russia and also is known as ENGECON (Russian: ИНЖЭКОН). It is specialized in the fields of economics, management, statistics, logistics and finance. At the postgraduate level, it is a business school. At the undergraduate level, it also teaches economics. ENGECON has an International branch outside the Russian Federation in Dubai. The history of the University begins in 1906 when Higher Commercial Courses of M.V. Pobedinski were arranged in Saint Petersburg. In 1919 the courses were altered into Institute of National Economy and in 1930 the Leningrad Institute of Engineering and Economics was set up. In 1992 the Institute received the Academy status and in 2000 the Academy became the University. It is possible to receive Bachelor degree (4 years), Master (2 years) and traditional for Russia - Specialist degree (5 years). After receiving specialist degree students may apply for futher postgraduate degree - Candidate of sciences (kandidat nauk), which is equivalent to PhD. Major part of courses is given in Russian, though there are several programs given in English.