Azerbaijan State University of Economics

About

Azerbaijan State University of Economics (abbreviated as UNEC; Azerbaijani: Azərbaycan Dövlət İqtisad Universiteti) is a public university located in Baku, Azerbaijan. Founded in 1930, as a specialised economic institution in Soviet Azerbaijan, it is currently one of the largest and oldest educational institutions in Transcaucasia. UNEC, employing more than 1000 academic staff, including 120 professors and 600 associate professors, has 22 thousand students in 14 faculties across 5 branches in Baku, Zagatala, and Derbent. The University is a full member of the European University Association, Federation of the Universities of the Islamic World, University Council of Organization of the Black Sea Economic Cooperation and Eurasian Association of Universities.

Originally, it was a part of Baku State University. 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 changed the name to the "Azerbaijan Social-Economic University named after Karl Marx" (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, UNEC was folded into Baku State University'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.

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 European University Association. 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, 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.

The Derbent branch of the Azerbaijan State Economic University was founded in 1993 by Heydar Aliyev. However, the official opening of the branch of the Azerbaijan State Economic University in the city of Derbent of the Republic of Dagestan of the Russian Federation 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 Finance and credit Accounting, analysis and audit 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.

Adapted from Wikipedia (CC BY-SA). Photography via Wikimedia Commons.