Glasgow Caledonian University (informally GCU or Caledonian or Caley) is a public university in Glasgow, Scotland. It was formed in 1993 by the merger of The Queen's College, Glasgow (founded in 1875) and Glasgow Polytechnic (founded in 1971). As of 2015 it is one of Scotland's largest universities with nearly 20,000 students. It is regularly ranked among the UK's top 10 modern universities. Nobel Peace Prize laureate Muhammad Yunus was installed Chancellor of the University in 2012, as the first non-British international figure to hold the office of University Chancellor in Scottish history. Pamela Gillies CBE FRSE has been the Principal and Vice-Chancellor of the University since 2006. Independent research carried out in 2015 revealed that the University contributes over £480m to Scotland’s economy each year with the quantifiable lifetime premium of a one-year class of graduates estimated at around £400m, bringing the University's total annual economic impact to around £880m in Scotland alone.