Known as the Queen of the Danube, Budapest is considered to be one of the world's most beautiful cities. Already a historic and cultural hub, Budapest is rapidly developing into a commercial and financial center within the European Union. Today, it plays an important role in the U.S. economy as well.
Budapest is centrally located in the heart of Europe with convenient rail and airport service to all parts of Europe and the northern Mediterranean.
Corvinus University Home Page [1]
August 25 - The Budapest Parade. Not for anyone over the age of 30, this end of summer parade includes a line of slow moving semi trucks representing various dance clubs. Revelers dance to music blaring from the truck beds as the parade travels down Andrassy Street to Hero Square where the party continues all night.
August 20 - St. Stephen's Day. This is the day Hungarians observe their independence, in a fashion similar to our Fourth of July. There is a full day of celebrations and events including an air show over the Danube River, punctuated by a race which brings out the Red Bull Racing Team. This race features planes flying under the Elizabeth and Chain Bridges. The night is capped off by a massive fireworks display over the Danube.
September 5 to 9 - The Budapest International Wine Festival. . This wine festival is an event not to be missed! The open-air festival in the Castle District of the Buda Hills reflects Hungary's culture as a wine country. For one low price, you can taste wines from every wine growing region in Hungary. Each of the 22 separate wine growing regions specializes in grapes that grow particularly well in the region's soil and weather. It is a wonderful chance to learn about wine, culture, geography and history without even realizing it.
September 30 - The Budapest Marathon. After seeing virtually no runners in Budapest since arriving, it is a truly unique sight to see thousands of runners taking over the streets for the day.
October 12 to 21 - Budapest Autumn Festival. This is an arts festival featuring music, theater, pottery, painting, etc. In the words of Joe Walsh, "Ain't never been there, they tell me it's nice." For information while in Budapest call + 36 1 486 3300.
December 1 to 24 - The Budapest Christmas Fair. The fair is in Vorosmarty ter (square) located at one end of a tremendous shopping and walking street called Vaci Ut. The other end of this street is Corvinus University. Small merchants build temporary huts to sell local items and arts here. This a very good time to eat some great street food and pick up some Christmas gifts for the folks back home. The full length of Vaci is lit to the hilt with Christmas lights.

Links:
[1] http://www.uni-corvinus.hu/index_angol.php?org=2&LNG=eng
[2] http://www.earth-photography.com/Countries/Hungary/Budapest_photos.html