The Faculty of Business Administration and Economics has, since winter semester 2005/2006, begun to offer all perspective students newly structured bachelor and master degree programs. The standardized bachelor program can be completed in a standardized time period of 6 semesters. The bachelor degree is the first stage of the three tier study system “Bachelor-Master-Doctoral Studies”. Following the successful completion of the bachelor program, a student can deepen their attained knowledge through the varying master programs offered by the faculty. The completion of the master program satisfies the prerequisites required to complete a doctoral study program at the university, which under normal circumstances lasts 3 years.