Bucharest Academy of Economic Studies

The Bucharest University of Economic Studies (Romanian: Academia de Studii Economice din București, abbreviated ASE) is a public university in Bucharest, Romania. Founded in 1913 as the Academy of Higher-level Commercial and Industrial Studies (Academia de Înalte Studii Comerciale și Industriale (AISCI)),it has become one of the largest economic higher education institutes in both Romania and South-Eastern Europe. The Bucharest Academy of Economic Studies is classified as an advanced research and education university by the Ministry of Education. It is one of the five members of the Universitaria Consortium (the group of elite Romanian universities). Established on 6 April 1913 by the Royal Decree of Carol I of Romania, the Academy of Higher-level Commercial and Industrial Studies was the first economic higher education institution established in Romania. In 1947, the Academy was reorganised and merged with the Academy of Cooperative Studies to form the Academy of Commercial and Cooperative Studies. During the Communist Era, in August 1948, it turned into the Institute for Economic Sciences and Planning, according to the model provided by the Soviet higher education institutions. During the 1967-1968 academic year, the Institute was reorganised again and became the Bucharest University of Economic Studies, a name which the university still holds today.