Azerbaijan State University of Economics

Public university in Baku, Azerbaijan

Azerbaijan State University of Economics is a public university located in Baku, Azerbaijan. UNEC was founded in 1930 and it is one of the biggest educational institutions of the South Caucasus. 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, New York Academy of Sciences, winners of state awards, honored teachers and scientists. UNEC 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. 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 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.

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.

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 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. 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+ Azerbaijan Parviz Bagirov, representative of the Ministry of Education of Azerbaijan Yashar Omarov, UK University of Warwick 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 (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 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.

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. 2009 – The International Academy of Professionals, which was established in Kyiv 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 – Business School ASUE was recognized as a full member of the Accreditation of the Business School of the European Foundation for Management Development (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". 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.