The University of Helsinki is a university located in Helsinki, Finland since 1829, but was founded in the city of Turku (in Swedish Åbo) in 1640 as The Royal Academy of Turku, at that time part of the Swedish Empire. It is the oldest and largest university in Finland with the widest range of disciplines available. Around 36,500 students are currently enrolled in the degree programs of the university spread across 11 faculties and 11 research institutes. As of August 1, 2005, the University complies with the standards of the Europe-wide Bologna Process and offers Bachelor, Master, Licenciate, and Doctoral degrees. Admission to degree programmes is usually determined by entrance examinations, in the case of bachelor degrees, and by prior degree results, in the case of master and postgraduate degrees. Entrance is particularly selective (circa 15% of the yearly applicants are admitted). It has been ranked a top 100 university in the world according to the 2012 QS, Times Higher Education and the Academic Rankings of World Universities. The university is bilingual, with teaching provided both in Finnish and Swedish. Teaching in English is extensive throughout the university at Master, Licentiate, and Doctoral levels, making it a de facto third language of instruction. Remaining true to its traditionally strong Humboldtian ethos, the University of Helsinki places heavy emphasis on high-quality teaching and research of a top international standard. It is a member of various prominent international university networks, such as Europaeum, UNICA, the Utrecht Network, and is a founding member of the League of European Research Universities.