The School of Economics and Business in Sarajevo has the longest tradition and is the largest of any educational institution in the region. Its main goal is to adopt and apply all current trends in business, economics and education to adapt to this rapidly changing, competitive environment. The School was established in 1952 as the Faculty of Economics. Its first class consisted of 105 full-time and 129 part-time students. As of 2007, 13.921 students of the four-year program, 541 students of the three-year program and 3.112 students of the two-year program have graduated from the School. The Master’s Degree was acquired by 478 applicants, while 178 doctoral dissertations have been defended. Of particular significance is the continuity of School operations throughout the past 55 years. Even in the conditions of heaviest shelling and warfare during the aggression against Bosnia and Herzegovina from 1992-1995, teaching activities did not cease, owing to the enthusiasm and dedication of employees and students. The School managed to keep the majority of its faculty members even during the most difficult periods of its history. Endeavoring to make the curriculum and syllabus as modern as possible, as well as to intensify steps towards the internationalization and international recognition of its degrees, the School was the first in Bosnia-Herzegovina to adopt and implement (during the 2001/2002 academic year) a curriculum based on the European Credits Transfer System – ECTS. An appreciable level of cooperation has been achieved with elite schools of economics both in Europe and around the world, providing students with a wider array of choices, and allowing their own independent influence on the development of the programs in which they participate, as well as their studies at partner institutions. The second step in implementing the ECTS-based concept of study at the School started in 2005 with the introduction of the “3+2” system.