Actually no, I've found that you have too make it up instead or this method:
Google:
Quote: "If you go to the View menu and select View Properties, you get a control panel that, among other things, controls the behavior of the grid in Blender. You can define the size of each grid square and the size of the "grid floor" in perspective view, but most importantly you can set the number of times each grid square is divided. So if you're working with feet and inches, you can change this to 12. On a smaller scale, you can change it to 8 or 16.
Blender strives to be "unit agnostic," and for modeling and rendering purposes, it mostly succeeds. You can work on any scale that works for you, that is appropriate for your current project.
If you start using physics simulations, you might want to think about working on a consistent scale, like 1 BU = 1 Meter. "
3D Game Artist