The Hong Kong University of Science and Technology (UST) is the SAR's youngest tertiary institution and specialises in technology and business. Established in October 1991, the campus occupies a 60-hectare site on the northern end of Clear Water Bay peninsula and was built in two phases. The first phase, completed in July 1991, has a capacity of 2,000 full-time students. The second phase, completed in January 1993, has a capacity of 7,000. Three of the university's academic schools - Science, Engineering, and Business and Management - provide both undergraduate and postgraduate education. The School of Humanities and Social Science offers only postgraduate studies and general education. Currently, there are 23 undergraduate programmes offered by the three schools and 19 academic departments. All undergraduate programmes are for honours degrees and are normally full-time. Programmes work on a credit- based system and comprise a structured set of courses. Students have to accumulate between a total of 100 and 105 credits, depending on the programme. The university runs other non-faculty academic units for research and teaching development. Units include the Biotechnology Research Institute; Institute for Environment and Sustainable Development; Cyberspace Centre; Centre for Experimental Business Research; Centre for Medical Diagnostic Technology; Publishing Technology Centre and the Industrial Training Centre. There are other departments such as the library, information technology services centre, language centre, student counselling service, career centre, health centre and student amenities services, which cater for students' academic and personal development. The university currently has a student population of 7,353, including 5,609 undergraduates and 1,744 postgraduates and 440 academic staff.