Azerbaijan State University of Economics () is a

public university A public university, state university, or public college is a university or college that is State ownership, owned by the state or receives significant funding from a government. Whether a national university is considered public varies from o ...

located in

Baku Baku (, ; ) is the Capital city, capital and List of cities in Azerbaijan, largest city of Azerbaijan, as well as the largest city on the Caspian Sea and in the Caucasus region. Baku is below sea level, which makes it the List of capital ci ...

Azerbaijan Azerbaijan, officially the Republic of Azerbaijan, is a Boundaries between the continents, transcontinental and landlocked country at the boundary of West Asia and Eastern Europe. It is a part of the South Caucasus region and is bounded by ...

. UNEC was founded in 1930, and it is one of the biggest educational institutions of the

South Caucasus The South Caucasus, also known as Transcaucasia or the Transcaucasus, is a geographical region on the border of Eastern Europe and West Asia, straddling the southern Caucasus Mountains. The South Caucasus roughly corresponds to modern Armenia, ...

. UNEC has 14 faculties, where 18.5 thousand students get education, also has 5 branches, and it offers master programs in 57 specialties, employing more than 1000 teachers, including 62 professors and 344 docents, among whom there are active members of the

Azerbaijan National Academy of Sciences Azerbaijan National Academy of Sciences (ANAS) (, located in Baku, is the main state research organization and the primary body that conducts research and coordinates activities in the fields of science and social sciences in Azerbaijan. It was ...

New York Academy of Sciences The New York Academy of Sciences (NYAS), originally founded as the Lyceum of Natural History in January 1817, is a nonprofit professional society based in New York City, with more than 20,000 members from 100 countries. It is the fourth-oldes ...

, winners of state awards, honored teachers and scientists. UNEC is a full member of the

European University Association The European University Association (EUA) represents more than 800 institutions of higher education in 48 countries, providing them with a forum for cooperation and the exchange of information on higher education and research policies. Members of ...

Federation of the Universities of the Islamic World The Islamic World Educational, Scientific and Cultural Organization (ICESCO, formerly ISESCO) is a specialized organization that operates under the aegis of the Organisation of Islamic Cooperation, Organization of Islamic Cooperation (OIC), and i ...

, University Council of

Organization of the Black Sea Economic Cooperation The Organization of the Black Sea Economic Cooperation (BSEC) is a regional international organization focusing on multilateral political and economic initiatives aimed at fostering cooperation, peace, stability and prosperity in the Black Sea ...

and Eurasian Association of Universities. Foreign students enrolled in undergraduate and graduate courses at UNEC are approximately 650 out of 18,400 student enrollment overall. In 2007, a Library and Information Center and a student Career Center started functioning at UNEC and also a new 7-floor educational building that meets the highest international standards was opened. The same year UNEC received the “European quality” award and the European Club of Rectors and

. On its Main Building on Istiglaliyyat street, a 24/7 open library is operating since 2018. The strategic direction of UNEC development was to bring the educational process up to the international standards by 2010, finishing the international accreditation process and ensuring full compliance with

Bologna Process file:Bologna-Prozess-Logo.svg, 96px, alt=Logo with stylized stars, Logo file:Bologna zone.svg, alt=Map of Europe, encompassing the entire Bologna zone, 256px, Bologna zone The Bologna Process is a series of ministerial meetings and agreements b ...

, as well as more active participation in the international market of educational services. Currently, the university is chaired by rector professor Adalat Muradov and five vice rectors.

History

Originally, it was a part of

Baku State University Baku State University (BSU) (BDU; ) is a public university located in Baku, Azerbaijan. Established on 1 September 1919 by the Parliament of Azerbaijan Democratic Republic, the university started with faculties of history and philology, physics ...

. It became a separate university in 1930. Over the years, its name has changed a number of times, and it was re-merged and re-separated from Baku State on several occasions. On its creation in 1930, the school was named the Trade-Cooperative Institute. In 1933, the government of

Azerbaijan SSR The Azerbaijan Soviet Socialist Republic, also referred to as the Azerbaijani Soviet Socialist Republic, Azerbaijan SSR, Azerbaijani SSR, AzSSR, Soviet Azerbaijan or simply Azerbaijan, was one of the constituent republics of the Soviet Union be ...

changed the name to the "Azerbaijan Social-Economic University named after

Karl Marx Karl Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, political theorist, economist, journalist, and revolutionary socialist. He is best-known for the 1848 pamphlet '' The Communist Manifesto'' (written with Friedrich Engels) ...

" (similar to the naming of the Azerbaijan Medical University named after Nariman Narimanov), and introduced curricula on accounting, law and finance. In 1936, the name was tweaked to the "Azerbaijan Social-Economic Institute named after Karl Marx". With the onset of

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

, UNEC was folded into

's Department of Economics. By 1944 the school was separated again, this time as the Azerbaijan National Economic Institute. It remained under this name until March 1959, when war caused it to be folded back into Baku State University. In 1966, the school separated once again, and has remained independent since, initially as the Azerbaijan National Economic Institute named after Dadash Bunyadzade. In 1987, the name was changed to the Finance-Economic Institute; and in 2000 the name was finally changed to its current form by an act of the Azerbaijani government.

Derbent branch

The

Derbent Derbent, also historically known as Darband, or Derbend, is the southernmost city in Russia. It is situated along the southeastern coast of the Dagestan, Republic of Dagestan, occupying the narrow gateway between the Caspian Sea and the Caucas ...

branch of the Azerbaijan State Economic University was founded in 1993 by

Heydar Aliyev Heydar Alirza oghlu Aliyev (10 May 1923 – 12 December 2003) was an Azerbaijani politician who was a Soviet party boss in the Azerbaijan Soviet Socialist Republic from 1969 to 1982, and the third president of Azerbaijan from October 1993 to ...

. However, the official opening of the branch of the Azerbaijan State Economic University in the city of Derbent of the

Republic of Dagestan Dagestan ( ; ; ), officially the Republic of Dagestan, is a republic of Russia situated in the North Caucasus of Eastern Europe, along the Caspian Sea. It is located north of the Greater Caucasus, and is a part of the North Caucasian Fede ...

of the

Russian Federation Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

was held only in November 2016. The total area of the Derbent branch is more than 11 thousand km2. There are 32 classrooms in the university, with a total capacity of 1,000 students. In the first year, 69 people were recruited to the university. At the moment, students can study in four areas: *

World economy The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production (economics), producti ...

Finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

and credit *

Accounting Accounting, also known as accountancy, is the process of recording and processing information about economic entity, economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activit ...

, analysis and

audit An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing al ...

* General Economy Along with this, branch students also can enjoy all the privileges and international relations of the university – so they can also receive double diplomas and participate in international exchanges.

Zagatala branch

Under the Azerbaijan State University of Economics, there is also a branch in one of the north-western cities of Azerbaijan – Zagatala. The basis of the Zagatala branch was laid on the basis of the branch of the Azerbaijan State Pedagogical University under the decree of the President of the Republic of Azerbaijan of April 29, 2016. The official opening of the branch took place on September 15, 2016. Training takes place in 4 main directions: *

Business management Business administration is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. Overview The administration of a business includes the performance o ...

* Finance * Accounting *

Economy An economy is an area of the Production (economics), production, Distribution (economics), distribution and trade, as well as Consumption (economics), consumption of Goods (economics), goods and Service (economics), services. In general, it is ...

The first set included 113 students from 37 different regions of Azerbaijan.

International cooperation

The Azerbaijan State University of Economics has connections with foreign universities. Thus, ASUE cooperates with the Siegen University of Germany in the direction of organizing summer and winter schools. In 2016, a winter school was held at the University of Siegen, in which participated teachers and students from both universities. A joint project entitled "Entrepreneurship education: as the main factor in creation of jobs and employment in Azerbaijan" started in 2016 and is planned to be completed in 2019. UNEC was declared the winner of the

TEMPUS The TEMPUS (Trans-European Mobility Programme for University Studies) is a program that encouraged higher education institutions in the EU Member States and partner countries to engage in structured cooperation through the establishment of "c ...

IV program of the 6th convocation for a project called "Development and improvement of university management in the field of international relations". As a winner, ASUE was awarded a grant for implementation by the

European Commission The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...

. In 2017, this project, whose goal was the formation of international relations based on the attraction of students and teachers in the international educational environment, was realized. Closing ceremony was attended by such personalities as the rector of ASUE Adalat Muradov, head of the office of the national program

Erasmus+ Erasmus+ is the European Commission's programme for education, training, youth, and sport for the 2021–2027 period, succeeding the previous programme (2014–2020). As an integrated programme, Erasmus+ offers more opportunities for the mobi ...

Azerbaijan Parviz Bagirov, representative of the Ministry of Education of Azerbaijan Yashar Omarov, UK

University of Warwick The University of Warwick ( ; abbreviated as ''Warw.'' in post-nominal letters) is a public research university on the outskirts of Coventry between the West Midlands and Warwickshire, England. The university was founded in 1965 as part of ...

Fellow James Kennedy, Vice-Rector for International Relations and Programs ASUE Shahin Bayramov and as well as representatives of the Ministry of Education of Ukraine, Kyrgyzstan and Tajikistan. In 2015, for the first time in Azerbaijan, ASUE joined the International Program of the London University – the

London School of Economics The London School of Economics and Political Science (LSE), established in 1895, is a public research university in London, England, and a member institution of the University of London. The school specialises in the social sciences. Founded ...

(LSE). Within the framework of this program, ASUE students receive education both in accordance with the curriculum of ASUE and in the curriculum of the London School of Economics. Students are provided with all the necessary materials and benefits, and upon completion of the training, the students of this program receive two diplomas. In addition to the London School of Economics and Politics, students can receive a second diploma from the French

University of Montpellier The University of Montpellier () is a public university, public research university located in Montpellier, in south-east of France. Established in 1220, the University of Montpellier is one of the List of oldest universities in continuous opera ...

in 2016. This can be done in two ways: students can go to the University of Montpellier from the third year to continue their studies for a year there, or continue their studies at ASUE, but according to the curricula of Montpellier. In both cases, students receive accreditation and a second diploma from the University of Montpellier.

Awards and certificates

2006 – Azerbaijan State University of Economics was awarded the "Golden Fortune" prize, which was held by the International Academy of Rating Technologies and Sociology. The university participated under the nomination "Rating of popularity". The award was given for the creation of a new model of economic education in the territory of the CIS. Before, ASUE received the "Silver Fortune" award in 2002. 2006 – ASUE was nominated for the National Award "Uğur". The prize was awarded for the fact that the university contributed to the development and advancement of science, as well as to the development of national cadres. 2007 – The university received the "University of the Year" award, which was held at the national level. 2007 – ASUE was awarded the “Intellect – 2007” Prize for the creation of the project of the Information and Library Center in ASUE. 2008 – At the conference held in Ankara, UNEC received an award for the contribution and development of the Turkic world and culture. 2009 – The International Academy of Professionals, which was established in

Kyiv Kyiv, also Kiev, is the capital and most populous List of cities in Ukraine, city of Ukraine. Located in the north-central part of the country, it straddles both sides of the Dnieper, Dnieper River. As of 1 January 2022, its population was 2, ...

in 1996, awarded the "Golden Medal" to the Azerbaijan State Economic University for merits in the scientific sphere and training of personnel. 2009 – The "Child of Motherland" award and the "Dada Gorgud" medal were awarded to the university rector for the fact that the university made a contribution to the development of Azerbaijan, from both economic and social sides. The award was presented by the Supreme Council of the Dada Gorgud Foundation. 2010 – Within the framework of the international image program "Millennium Award" ASUE received three awards – a diploma, a cup and an order for the fact that the university used modern educational technologies and introduced innovations in the educational system. 2015 – The university was awarded the certificate "Best Performance" for the best presentation at the 9th Azerbaijan International Education and Career Exhibition. This is the only university that received the certificate "Best Performance" at the exhibition, which was attended by more than 130 institutions of higher education from 16 countries. 2015 – Business School ASUE was recognized as a full member of the Accreditation of the Business School of the

European Foundation for Management Development The European Foundation for Management Development (EFMD) is an international not-for-profit association based in Brussels. Europe's largest network association in the field of management development, it has over 890 member organizations from acade ...

(EFMD) for the first time in Azerbaijan. 2016 – UNEC retained its leadership among universities in Azerbaijan in accordance with the list identified by the rankings of the world's higher education institutions "The Ranking Web" and "

Webometrics The science of webometrics (also cybermetrics) tries to measure the World Wide Web to get knowledge about the number and types of hyperlinks, structure of the World Wide Web and using patterns. According to Björneborn and Ingwersen, the definiti ...

". 2016 – According to the latest results of 2016, introduced by UniRank, which determines the popularity of the world universities on the Internet, UNEC was the first among universities in Azerbaijan.

Honorary doctorates

* H.E Mr.

, former president and national leader of

Azerbaijan Republic Azerbaijan, officially the Republic of Azerbaijan, is a Boundaries between the continents, transcontinental and landlocked country at the boundary of West Asia and Eastern Europe. It is a part of the South Caucasus region and is bounded by ...

* H.E Mrs.

Suzanne Mubarak Suzanne Saleh Mubarak ( , []; born 28 February 1941) is the widow of Egyptian former President of Egypt, president Hosni Mubarak and was the First Lady of Egypt during her husband's presidential tenure from 14 October 1981 to 11 February 2011. ...

, former First Lady of Arab Republic of Egypt * Dr.

Ismail Serageldin Ismail Serageldin (; born 1944 in Giza, Egypt), Founding Director of the Bibliotheca Alexandrina (BA), the new Library of Alexandria, inaugurated in 2002, is currently, Emeritus Librarian, and member of the Board of Trustees of the Library of Alex ...

, director of

Bibliotheca Alexandrina The Bibliotheca Alexandrina (Latin, 'Library of Alexandria'; , ) (BA) is a major library and cultural center on the shore of the Mediterranean Sea in Alexandria, Egypt. It is a commemoration of the Library of Alexandria, once one of the larg ...

* H.E Mr.

Konstantinos Stephanopoulos Konstantinos "Kostis" Stephanopoulos (, 15 August 1926 – 20 November 2016) was a Greek conservative politician who served two consecutive terms as the president of Greece from 1995 to 2005. Life and career Stephanopoulos was born in Patr ...

, former President of

Greece Greece, officially the Hellenic Republic, is a country in Southeast Europe. Located on the southern tip of the Balkan peninsula, it shares land borders with Albania to the northwest, North Macedonia and Bulgaria to the north, and Turkey to th ...

Joseph Stiglitz Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, political activist, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2 ...

, Nobel prize winner * Erik Stark M, Nobel Prize Laureate in Economics, Professor at University of Harvard * Finn Erlinq Kidland, Nobel Prize Laureate in Economics, Professor at University of Carnegie-Mellon University, Norway * Christopher A. Pissarides, Nobel Prize Laureate in Economics, Head of Chair and program director at London School of Economics * Robert Mandell, Columbia University Professor – US, Nobel Prize Laureate *

Roger Myerson Roger Bruce Myerson (born March 29, 1951) is an American economist and professor at the University of Chicago. He holds the title of the David L. Pearson Distinguished Service Professor of Global Conflict Studies at The Pearson Institute for the ...

, Nobel Prize Laureate in Economics, Professor of Arizona University (USA) *

Kenneth Arrow Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, mathematician and political theorist. He received the John Bates Clark Medal in 1957, and the Nobel Memorial Prize in Economic Sciences in 1972, along with ...

, Nobel Prize Laureate in Economics, Professor at Harvard University (USA), Founder of School of Economy

Rectors

* Mehdi bay Ismayilov (1930–1934) * Rashid Qayıbov (1934–1937) * Macid Quliyev (1937) * Habib Huseynov (1937–1939) * Bilqeyis Hashimzade (1939–1941) * Aliqulu Farajov (1945–1950) * Xurshud Mammadov (1951–1954) * Shamil Aliyev (1955–1959) * Sarvar Aslanli (1966–1973) * Zeynal Alakbarov (1973–1986) * Ragib Guliyev (1986–1989) * Fuad Alasgarov (1989–1992) * Hasan Gasimov (1992–1994) * İslam Garayev (1994–2000) * Ali Abbasov (2000–2004) * Shamsaddin Hajiyev (2004–2014) * Adalat Muradov (2014-right now)

Famous graduates

* Ismat Abbasov, Deputy Prime Minister of Azerbaijan Republic * Avaz Alakbarov, former Minister of Finance of Azerbaijan Republic * Fizuli Alakbarov, former Minister of Labor and Social Protection of Population of Azerbaijan Republic * Azer Amiraslanov, The chief of Department for Agrarian Policy Issues of the Presidential Administration of Azerbaijan Republic * Heydar Asadov, Minister of Agriculture of Azerbaijan Republic * Rufat Aslanli, Chairman of State Committee for Securities of Azerbaijan Republic * Nazim Ibrahimov, Chairman of State Committee on Work with Diaspora of Azerbaijan Republic * Telman Ismailov, Ex Businessman * Karam Hasanov, Chairman of State Property Issues Committee of Azerbaijan Republic * Mikayil Jabbarov, Minister of Education of Azerbaijan Republic * Eldar Mahmudov, former Minister of National Security of Azerbaijan Republic * Fazil Mammadov, Minister of Taxes of Azerbaijan Republic * Ali Masimov, former acting Prime Minister of Azerbaijan Republic * Salim Muslumov, Minister of Labor and Social Protection of Population of Azerbaijan Republic *

Shahin Mustafayev Shahin Abdullah oghlu Mustafayev (; born 13 June 1965) is an Azerbaijani politician serving as the Deputy Prime Minister of Azerbaijan. Early life Mustafayev was born on 13 June 1965 in the village of Jujevan in the Noyemberyan District of th ...

, Minister of Economy and Industry of Azerbaijan Republic * Elman Rustamov, Chairman of the Management Board of Central Bank of Azerbaijan * Aris Hüseynov, Economist-Accountant of BCC Group of Companies

Interesting facts

Setting for Novel ''Ali and Nino''

Kurban Said's landmark novel, '' Ali and Nino'', opens in a classroom in the Economics University building in Baku. Ali Khan, the protagonist, took his final graduation exams in that building, which is located on one of Baku's most prestigious streets – Independence (Istiglaliyyat), though at the time of the novel, it was called Nikolay Street, named after the Russian czar Nicholas II. Nino's school, now Public School No. 132, was located across the street. Curiously, both Yusif Vazir (Chamanzaminli) (1887-1943), the Core Author of ''Ali and Nino'', as well as Essad Bey / Lev Nussimbaum (1905-1942) both attended this school. Vazirov attended Baku Realni High School (having transferred in as a refugee from

Shusha Shusha (, ) or Shushi () is a city in Azerbaijan, in the region of Nagorno-Karabakh. Situated at an altitude of 1,400–1,800 metres (4,600–5,900 ft) in the Karabakh mountains, the city was a mountain resort in the Soviet Union, Soviet ...

) beginning in 1906 and he graduated in 1909. Lev Nussimbaum attended Men's Gymnasium No. 2, which at that time (1914-1920) was housed inside Baku Realni. Though Nussimbaum was often absent due to sickness and political unrest, he was enrolled from Junior Preparatory to the beginning of Fourth Grade when he fled the Bolshevik takeover of the Baku government (1920). This school offered classes through Eighth Grade. Documents indicate that Nussimbaum failed his Azerbaijani class in 1919, the only time records exist showing that he had enrolled in Azerbaijani.Azerbaijan Republic State History Archives: Fund 392, List 1, Case 470, Page 13. Photo of Lev Nussimbaum's grade report is published in "Secrets in the Archives: Lev Nussimbaum's Early School Record in Baku," in Azerbaijan International, Vol. 15:2-4 (2011), p. 153. Available i
English
o

For the first time in the country, the 7/24 library at UNEC allows students to easily prepare for classes and exams.

Gallery

File:Ilham Aliyev inaugurated newly reconstructed education facility No.3 of UNEC 21.jpg File:Ilham Aliyev inaugurated newly reconstructed education facility No.3 of UNEC 16.jpg File:Ilham Aliyev inaugurated newly reconstructed education facility No.3 of UNEC 20.jpg

References

External links

Azerbaijan State Economic UniversityOfficial Telegram pageOfficial Instagram pageOfficial Facebook pageOfficial WhatsApp channelEducation Consultancy in Azerbaijan
{{authority control Business schools in Azerbaijan Universities and colleges established in 1930 1930 establishments in the Transcaucasian Socialist Federative Soviet Republic Derbent Universities in Baku 1930 establishments in Azerbaijan