The Master of Sciences of Pharmacy (MPharm) is the standard master's degree program in Pharmacy. It is the oldest honourable Diploma (Degree) authorized from the European Faculties of Pharmacy as it takes four years to complete. It is based on a credit system higher than the normal Bachelor of Pharmacy degree (BPharm) and the American Pharmaceutical Diploma, Doctor of Pharmacy,(PharmD). The Faculty is a member of the Association of European Faculties of Pharmacy and its graduates meet all the requirements for the profession as defined by the European Union. In the initial three years students revise and broaden their knowledge of elementary natural and medical subjects to the level required for understanding specific subjects from the field of Pharmacy. Students attend lectures and seminars and take part in practical pharmacy placements. During the last year of study they work on their thesis. The programme is concluded by defending the thesis and taking the final state examination. Then the students are awarded the master's degree (abbreviated Mgr.). The study programme is compliant with EU directive 2005/36/EC. Graduates awarded the master's degree can later sit for a thorough state exam including an advanced thesis defence. After passing they are awarded the "Testing Board" degree (abbreviated EPhB). Graduates can apply for postgraduate after studying several branches of Pharmacy in the five accredited years. After defending their dissertation, submit their researches in their selected branches of Pharmacy and passing the final state examination they are awarded the degree. The master's program is offered in different specialized areas, one major being Clinical Pharmacy. Clinical pharmacy specialization enables pharmacists to deliver higher levels of clinical services. In some countries these specializations are happening with residency programs  Other specializations are available related to pharmaceutical industry careers. The Faculty closely cooperates with industry and runs a Faculty Pharmacy on the premises. It cooperates with private and public pharmacies in the country where students conduct their placements and also with the Chamber of Pharmacists and the Association of Pharmacy owners.