The Applied Information Science in Economics is a professional qualification awarded generally in Russian Federation. The degree inherited from the USSR education system also known as Specialist degree, which after the Soviet Union was extended to 5 years. The degree is awarded after five years of full-time study and includes several internships, course-works, thesis writing and defense. The degree has similarities with German Magister Artium or Diplom degree. However, due to the Bologna Process number of such degrees are declining.