Ulaanbaatar (Ulan Bator) is the biggest city in Mongolia and the capital city of the country. It has an estimated population of around 1.3 million people. The unemployment rate increased in Mongolia from the first quarter to the second quarter of 2015. It went from 7.4 to 7.8 percent in this period. Between 1990 and 2015 the average rate of unemployment was at 6.1 percent. In 2012 the country saw a record high rate of unemployment of 10.3 percent. The most renowned university in Mongolia is the National University of Mongolia in Ulan Bator. It is the oldest university in Mongolia. It has 12 schools and faculties in the city. Faculties include: Business, International Relations, Law, Engineering and Applied Science and the School of Arts and Sciences.
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