A university is an institution of higher education and research, which grants academic degrees at all levels (bachelor, master, and doctorate) in a variety of subjects. A university provides both tertiary and quaternary education. The word university is derived from the Latin universitas magistrorum et scholarium, roughly meaning "community of masters and scholars".

The first "universities"

Relative to the above definition, there is controversy as to which university is the world's oldest. Takshashila University[ may be the earliest, historically-documented universities. The original Latin word "universitas", first used in time of renewed interest in Classical Greek and Roman tradition, tried to reflect this feature of the Academy of Plato. If we consider university simply as a higher education institution, then it could be Shang Hsiang, founded before the 21st century BC in China according to legend.Later Taixue and Guozijian serve as the highest level of educational etablishment while academies became very popular as non-governmental etablishments teaching Confucianism and Chinese literature among other things. The choice for the oldest university is usually among Constantinople, Al Karaouine or Al-Azhar universities. Nalanda University, founded in Bihar, India around the 5th century BC conferred academic degree titles to its graduates, while also offering post-graduate courses. Another Indian university whose ruins were only recently excavated was Ratnagiri University in Orissa. Al-Azhar University, founded in Cairo, Egypt in the 10th century, offered a variety of post-graduate degrees, and is often regarded as the first full-fledged university. The University of Constantinople, founded in 849, by the regent Bardas of emperor Michail III, is generally considered the first institution of higher learning with the characteristics we associate today with a university (research and teaching, auto-administration, academic independence, et cetera). The Guinness Book of World Records recognizes the University of Al Karaouine in Fez, Morocco as the oldest university in the world with its founding in 859.

Universities around the world

The funding and organization of universities is very different in different countries around the world. In some countries universities are predominantly funded by the state, while in others funding may come from donors or from fees which students attending the university must pay. In some countries the vast majority of students attend university in their local town, while in other countries universities attract students from all over the world, and may provide university accommodation for their students.

From : en.wikipedia.org