The Faculty of Business and Economics was established in January 2001 as the University's tenth faculty, amalgamating the School of Business and the School of Economics and Finance. Establishing the Faculty symbolised the University's commitment to education in these areas. Both Schools in the Faculty offer research programmes leading to PhD degrees. The Faculty also offers a variety of taught master programmes, including Master of Business Administration [MBA] and Executive Stream of Master of Business Administration [EMBA-Global Asia], which are offered in partnership with London Business School and Columbia Business School; Master of Business Administration (International) [IMBA], offered in Shanghai in conjunction with Shanghai's Fudan University; Master of Finance [MFin]; and Master of Economics [MEcon]. All these programmes are designed to provide students with a deep understanding of key aspects of business and economics. Students are introduced to basic research tools in their fields and are expected to be able to conduct independent research relevant to their specialties. Through regular interactions with Faculty members, students also acquire a broader perspective on management and economic issues in and beyond Asia. The Faculty has a number of research centres, which provide a platform for students to apply theories in practice.