Wirtschaftsuniversität Wien ("WU Wien" [ˈveˈuː ˈviːn] or just "WU" [ˈveˈuː] in Austria and Germany) or Vienna University of Economics and Business is the largest University focusing on business and economics in Europe and, in terms of student body, one of the largest universities in Austria. Until 2008, its official name in English was "Vienna University of Economics and Business Administration". WU Wien was founded on October 1, 1898 as k.u.k. Exportakademie in a similar vein to the London School of Economics and Political Science, to provide professional training to future businessmen and thus stimulate the Austro-Hungarian empire's economy. From humble beginnings as a professional school, it quickly grew to become an important institution, which was awarded the status of a fully-fledged Hochschule (an educational institution equivalent to a university, but specializing in a certain field such as technology or business or art) in 1919. At that time, it was renamed to Hochschule für Welthandel.