The Budapest University of Technology and Economics ( or in short ), official abbreviation BME, is the most significant university of technology in Hungary and is considered the world's oldest institute of technology which has university rank and structure. It was the first institute in Europe to train engineers at university level. It was founded in 1782. More than 110 departments and institutes operate within the structure of eight faculties. About 1100 lecturers, 400 researchers and other degree holders and numerous invited lecturers and practising expert specialists participate in education and research at the Budapest University of Technology and Economics. Approximately 1381 of the university's 21,171 students are foreigners, coming from 50 countries. The Budapest University of Technology and Economics issues about 70% of Hungary's engineering degrees. 34 professors/researchers of the university are members of the Hungarian Academy of Sciences. Training courses are provided in five languages: Hungarian, English, German, French and Russian. The ECTS credit system was introduced in 1995. This helps students to enroll in the student exchange program of the European Union, the Socrates (also known as Erasmus), and earn a double degree through the Top Industrial Managers for Europe network. History 1635 – Archbishop Péter Pázmány, primate of Hungary, founds the University of Nagyszombat (today Trnava, Slovakia) Late 18th century – The university moves to Buda and becomes the University of Buda. 1735 – The "Berg-Schola," the world's first institute of technology, was founded in Selmecbánya, Kingdom of Hungary (today Banská Štiavnica, Slovakia) in 1735. Many members of the first teaching staff of BME arrived from Selmecbánya. 1782 – Emperor Joseph II establishes the Institutum Geometricum as part of the Faculty of Liberal Arts at the University of Buda. The Institutum, the direct predecessor of the Budapest University of Technology and Economics, is the first in Europe to award engineering degrees to students of land surveying, river control, and road construction. 1850 – The Institutum Geometricum merges with the Joseph College of Technology. 1856 – The merged institutions become the Royal Joseph Polytechnic. 1860 – Hungarian replaces Latin as the language of instruction. 1862 – Royal Joseph Polytechnic becomes the Royal Joseph University. 1872 – Royal Joseph University gains full autonomy and the right to issue engineering diplomas after five years of studies. It is among the first institutions in Europe, to train engineers on university level. 1901 – Royal Joseph University is entitled to confer