Business studies is an academic area of study that provides the knowledge and skills needed for a career in the business realm. Studies may consist of finance, accounting, economics, organizational studies, business ethics, and marketing.

Russia or, also officially known as the Russian Federation, is a country in northern Eurasia. Education in Russia is provided predominantly by the state and is regulated by the Ministry of Education and Science. In Russia, it takes about 70 % of training time for the contact lessons with a teacher, the rest 30 % of the workload are devoted to the independent study of the material.

A Master of Science is an educational program that requires students to complete coursework, hands-on training, and a research paper in order to earn the degree. With an MSc, students have the option of specializing their degree in a chosen field or concentration.

Online or distance learning refers to the use of electronic media and information and communication technologies (ICT) in education. With online learning, one can access education at any time and from any location with an available internet connection.