The Stockholm School of Economics (SSE; , HHS) is a private business school located in city district Vasastaden in the central part of Stockholm, Sweden. SSE offers BSc, MSc and MBA programs, along with PhD- and Executive education programs. SSE's Master program in Finance is ranked no. 18 worldwide as of 2018. The Masters in Management program is ranked no. 7 worldwide by the Financial Times. QS ranked SSE no.26 among universities in the field of economics worldwide in 2012. The school is the only privately funded university in Sweden. SSE is accredited by EQUIS and is a member of CEMS. SSE has founded sister organizations: SSE Riga in Riga, Latvia, and SSE Russia in St Petersburg and Moscow, Russia. It also operates the European Institute of Japanese Studies (Japanese, kanji: 欧州日本研究所, Japanese, romaji: Ōshū Nihon kenkyūjo), a research institute in Tokyo, Japan. History The Stockholm School of Economics was founded in 1909 on private initiative as a response to rapid industrialization and a growing need for well educated businessmen and company managers and has maintained close ties with the business community ever since. The foundation followed a substantial donation in 1903 by Knut Agathon Wallenberg. The name handelshögskola (roughly "college of commerce") was a parallel to the German term Handelshochschule, used by a number of German institutions started in the years before, commencing with Handelshochschule Leipzig in 1898. The term högskola was at this time also established for specialised higher educational institutions outside the universities, such as the Royal Institute of Technology, (Kungl.) Tekniska högskolan, which bore that name from 1877. While founded as a business school, the subject of economics featured prominently in the research and curriculum of the school from the beginning. The most well known scholars of the Stockholm School of Economics are arguably the economists Eli Heckscher (professor of economics and statistics 1909–1929, professor of economic history 1929–1945), and Bertil Ohlin (professors of economics). Heckscher is also known as the founder of economic history as an independent academic discipline and his work Svenskt Arbete och Liv is a fundamental work within this subject. Ohlin was also a leading figure within the school of doctrine with the same name, the so-called Stockholm school; a group of leading Scandinavian economists influenced by Knut Wicksell, most of them active in Stockholm, either at the Stockholm School of Economics or the Stockholm University College. This school of doctrine was