About the University
The Federal State-Funded Educational Institution of Higher Education 'Financial University under the Government of the Russian Federation' (Financial University) is one of the oldest Russian higher education institutions where financial experts, financial law experts, economists, IT experts, mathematicians, sociologists, and political scientists are trained.
A brief history of the University
- 2010 – Financial University under the Government of the Russian Federation was established
- 1992 – Financial Academy under the Government of the Russian Federation was established
- 1991 – State Financial Academy was established
- 1946 - Moscow Institute of Finance was established (as a result of a merger of the Moscow Institute of Finance and Economics and the Moscow Institute of Lending and Economics)
- 1934 - Moscow Institute of Lending and Economics was established
- 1919 - Moscow Institute of Finance and Economics was established
Among the Financial University graduates are V. S. Pavlov, Chairman of the Government of the USSR; A. G. Zverev, I. I. Fadeev, I. N. Lazarev, V. E. Orlov, V. G. Panskov, B. G. Fedorov, Ministers of Finance of the USSR, Russian Soviet Federative Socialist Republic, and the Russian Federation; N. K. Sokolov, N. V. Garetovsky, V. V. Gerashchenko, Chairpersons of the Central Bank of the USSR and Russia; A. I. Akimov, Chairman of the Board of Gazprombank OAO; N. A. Zhuravlev, Deputy Chairman of the Federation Council Committee for the Budget and Financial Markets; A. V. Drozdov, Chairman of the Board of the Pension Fund of Russia; B. I. Zlatkis, Deputy Chairperson of the Board of Sberbank of the Russian Federation; R. V. Kopin, Governor, Chairman of the Government of the Chukot Autonomous Area; N. S. Maksimova, State Duma Deputy, member of the United Russia Party faction, member of the Accounts Commission of the State Duma, Deputy Head of the State Duma Budget and Tax Committee; M. E. Ogloblina, Adviser to the Governor of the Moscow Region; E. V. Panina, State Duma Deputy, member of the United Russia Party faction, member of the State Duma Committee for International Affairs; M. D. Prokhorov, businessman; D. A. Svishchev, State Duma Deputy, Chairman of the State Duma Committee for Physical Culture, Sports and Youth Affairs; A.G. Siluanov, Minister of Finance of the Russian Federation, First Deputy Chairman of the Government of the Russian Federation; V. E. Chistova, Deputy Chairperson of the Accounts Chamber; A. G. Khloponin, former Deputy Chairman of the Government of the Russian Federation (January 2010 – May 2018); L.V. Kuznetsov, Minister of North Caucasus Affairs (2014 – May 2018); Nguyễn Công Nghiep, Deputy Minister of Finance of the Republic of Vietnam; Cheng Wei, Rector of the Liaoning University (Shenyang, China), and others.
The University has come a long way. It has evolved from an institute and a finance and banking expert training academy into a major research and education center.
Today, the University incorporates:
- 16 Faculties, 14 research Departments, 11 teaching Departments, 11 collaborative provision departments formed in cooperation with the employers, 2 Colleges and a Lyceum.
- 2 research centers and 2 research institutes;
- Further education divisions that include 4 higher schools, 2 institutes and a research center.
In addition to the divisions listed above, the University incorporates 2 Institutes, 5 centers, one agency and a business school.
The University has 27 University Branches (incl. 13 Branches that offer higher education programs, 4 Branches that offer higher education programs and post-secondary training programs, and 10 Branches that offer post-secondary training programs). There are 5 Faculties and 62 teaching Departments in the University Branches.
The University total annual enrolment (as at the beginning of the 2017\2018 academic year) is 46,556 students (incl. 25,537 students who study in face-to-face mode, 78 students who study in off-campus/on-campus mode, and 20,941 students of correspondence study departments). There are 34,495 students of bachelor, master and specialist degree programs (incl. 10 students of specialist degree programs, 30,325 students of bachelor degree programs, 4,160 students of master degree programs) and 12,061 students of post-secondary training programs.
The Financial University is one of the leading Russian higher education institutions. It has on offer 13 bachelor degree programs with 37 concentrations; 14 master degree programs with more than 60 concentrations; 16 post-secondary training programs, and 35 professional development programs, incl. 10 МВА programs and 183 advanced training programs.
In total, there were 12,075 graduates of bachelor, specialist and master degree programs in 2016/2017 academic year (University Branches included). The number included:
- Graduates of bachelor, specialist and master degree programs:
- 3,549 students who studied in face-to-face mode;
- 161 students who studied in off-campus/on-campus mode;
- 4,837 students of correspondence study departments;
- Graduates of post-secondary training schools:
- 2,780 students who studied in face-to-face mode;
- 748 students of correspondence study departments.
The competition for the student places at the University is fairly fierce as the University ensures high quality of training and the University graduates have good employment prospects and career development opportunities after graduation.
The Financial University has implemented and is improving the training scheme based upon availability of various learning paths in and modes of continuous education. The system includes post-secondary training programs, as well as bachelor, master and specialist degree programs.
The quality of training offered by the University is widely recognized and is due to the highly qualified teaching staff employed.
As at 1 September 2018, there are 1,378 teaching staff members who are based in Moscow, including 1,116 holders of academic degrees. The number includes 301 Doctors of Sciences and 815 holders of PhD degrees. There are 741 teaching staff members who have academic titles (incl. 186 Professors, 544 Associate Professors, and 11 Senior Research Fellows).
There are 1,124 teaching staff members who work in the University Branches and post-secondary training schools, including 627 instructors who teach within higher education programs, 497 instructors who teach within post-secondary training programs.
547 instructors are the holders of academic degrees. The number includes 79 Doctors of Sciences and 468 holders of PhD degrees. There are 319 teaching staff members who have academic titles (incl. 45 Professors, 274 Associate Professors).
There are 67 University researchers based in Moscow and 9 researchers based in the University Branches. Those include 62 holders of academic degrees. The number includes 25 Doctors of Sciences and 37 holders of PhD degrees. There are teaching staff members who have academic titles (incl. 14 Professors, 15 Associate Professors, and 2 Senior Research Fellows).
The University was one of the first Russian universities to open a registered endowment fund that raised 255,575,539.38 Russian Rubles (as at 31 January 2017).
The University has developed and offered an innovative program of study entitled Development of Innovative Education System for Training Financial Experts/Leaders of the Competitive Economy. The program has become an important incentive for the University further development.
The Financial University has developed the 3rd generation of federal state educational standards for training economists who major in Finance and Economics, Lending and Economics, Accounting and Audit, World Economy and International Business, Taxes and Taxation.
The University proactively uses the new learning technologies and introduces the individual student learning paths into the teaching process using a competences-based approach to training.
The Financial University has taken some restructuring measures aimed at improving quality of training within the period of 2009-2013. More than 20 new departments and new faculties were formed within the period. The newly formed faculties are the Faculty of Finance and Economics, the Faculty of Lending and Economics, the Faculty of Law, the Faculty of Sociology and Political Science, the Faculty of International Finance, the Faculty of Management, the Faculty of Mathematical Methods and Risk Analysis, the Faculty of Post-Secondary Training and Further Education. The Center for Financial and Economic Research has been formed that includes 6 research centers, namely, the Center for the Study of International Economic Relations, the Center for the Study of Economic Development Issues, the Center for Financial Research, the Center for Tax Research, and Information and Analysis Center. A Research Foundation, the Institute for Education Finance and Economics, the Institute for Legal Research and Innovation, the Center for Research and Product Innovation and a Consulting Center have also been formed.
The University has undergone structural reforms aimed at forming a comprehensive information area that have helped build a solid IT-based research and teaching process support system and the University infrastructure support system.
The University has obtained a Certificate of Conformity that confirms that the University Quality Management System is in compliance with the ISO 9001:2008 standards for doing the research and for the development and implementation of programs of study (tertiary degree programs, further and continuing education programs).
The University and University Branch Quality Assurance Standards were adopted in 2016. They are based on the Standards and Guidelines for Quality Assurance in the European Higher Education Area (ESG).
The University quality assurance policy is aimed at building a good learning environment for the applicants; developing higher education, post-secondary education, further education programs based on the research findings, professional standards and current trends in the economic and social development; updating and use of new learning technologies with a view to develop self-education skills and ensure self-realization through the support of scientific schools and fostering employees' creativity; ensuring the graduates will be in demand at the labor market; harmonizing teaching, research and industry standards in the University.
New Learning Technologies
The University is introducing such 'Bologna Process-induced' learning modes and methods into the learning process as module-based curricula models (that should replace linear curricula models), mobile learning groups, and a tutoring system.
The visiting professors and experts offer their lectures (incl. the lectures in English delivered by the professors from overseas universities). The student ranking system has been improved. New interactive teaching techniques are used (case studies, business games and role playing-based strategies, problem-solving tasks, etc.)
E-books and teaching aids, CDs, multimedia technology-based programs, incl. training firms (a program in accounting, a program in insurance), a virtual laboratory at the Department of Financial Management have been developed; e-libraries have been formed that are based at various departments, computer testing technologies have been used for testing.
Interactive distance learning technology-based system has been used when training students and offering advanced training programs.
Library and Information Facility
Today, the University Library and Information Facility includes 10 libraries based in Moscow and 28 libraries based in the University Branches located in the Russian regions. The number of items in non-e-format is 955,757.Those items include research materials, manuals, books in foreign language, theses, periodicals, fiction, rare books on economics. There are 356 PCs in the Library. The Library local area network is integrated into the University communications network. There is a collection of e-resources in the Library that supports the teaching process and the research process. In 2017, there were 66 databases that contained more than 370 mln. documents. The users can use the University IPs to gain access to the databases or can gain a remote access to them. The University E-Library was formed in 2015. It contains monographs, teaching and methodological materials, summaries of theses, articles published in journals and other materials published by the University Publishing House.
The University is engaged in the following:
- Researcher, teaching staff, doctoral study department student, postgraduate student research in the field of finance and economics;
- Undergraduate and postgraduate student research;
- Research events, incl. student research events, hosted by the University;
- Research work and publication.
The University further developed in 2017, while facilitating researcher and expert projects and rendering consulting services.
The budget-funded programs and projects implemented according to the order of the Government of the Russian Federation were on top of the University research priorities list.
54 projects were implemented in accordance with the order of the Government of the Russian Federation in 2017. The total amount of funds allocated was 155 mln. Rubles. The University won the tender competitions to implement the projects.
13 Departments, 6 teaching Departments, 2 research departments, as well as 2 departments of the University Branches, more than 390 instructors and researchers, 1 doctoral studies department student, 51 postgraduate students, 92 bachelor and master program students took part in the research work within the framework of the above projects. The researchers presented their reports to an expert commission. The commission members were the leading scholars, University employees and independent experts. The presentations of the project managers were examined by the commission that incorporated Russian Government experts from the relevant departments.
Upom completion of the projects in 2017, the experts' reports were presented to various representatives of the legislative and executive bodies.
Full texts of commissioned research work reports prepared in 2017 and project presentations are available at the University educational portal and the Russian Government database.
The University became a contractor in extra-budgetary funds use-based research services agreements and R&D agreements concluded with government institutions. The total amount of funds allocated for financing 177 projects (incl. 98 projects implemented by the University Branches) was more than 165 mln. Rubles.
The key customers in the agreements were the following institutions: the Bank of Russia, the Pension Fund of the Russian Federation, the Ministry of Economic Development of the Russian Federation, the State Duma of the Russian Federation, Federal Tax Service, Research Institute of Standardization and Unification, the Council of the Interparliamentary Assembly of Member Nations of the Commonwealth of Independent States (IPA CIS), the Center Ship-Building Industry Research Center, and other organizations. The customers obtained the work reports compiled in line with the Statement of Work upon the project completion. 36 research grants were obtained from external sources of finance (Russian Foundation for Fundamental Research, Russian Science Foundation) and 4 research projects were completed that were financed by the University Endowment Fund in 2017. The total amount of funds allocated for project financing was more than 23 mln. Rubles.
In total, more than 32 mln. Rubles were allocated to finance the University Branch research and services in 2017. The St. Petersburg, Kaluga, Tula, Chelyabinsk and Vladikavkaz Branches obtained the best results.
Thus, the grand total amount of financing obtained to conduct research within 301 projects was more than 320 mln. Rubles in 2017.
The researchers presented their key research findings to the researcher community members in publications in Russian and overseas journals with the high impact factor. They also presented the findings during the All-Russia and international conferences, forums and congresses.
In 2017, student research work and innovative business efforts were structured in accordance with the Research Work Plan and as per University rector's relevant orders to arrange research events on the Financial University premises and in other universities and organizations.
The research work included:
- 104 undergraduate and postgraduate student research events held on the Financial University premises;
- 94 undergraduate and postgraduate student research events held outside the Financial University premises, in other Moscow universities and in other Russian cities' universities. The Financial University students obtained 167 diplomas of the first, second and third grade, one cup, one medal, one grant, 5 money prizes, 5 awardee's certificates, 12 diplomas and 9 letter of commendation.
- The University cooperated fruitfully with the major event co-organizers. The list of co-organizers included the Lomonosov Moscow State University, Moscow Student Center, Education Public Policy Department, and Youth and Children Upbringing Policy Department of the Ministry of Education and Science, Federal Youth Agency of the Russian Federation. The Financial University obtained diplomas and letters of commendation from the Federal Youth Agency of the Russian Federation.
- The Financial University students participated in about 30 conferences and competitions organized outside the University premises.
The Sixth International Postgraduates and Undergraduate Student Research Work Competition (hereinafter referred to as the Competition) was held in March - May 2017. The Competition is held annually in order to create incentives for the undergraduate students and postgraduate students to be involved in financial and economic research work, build an environment needed for using their intellectual potential, improve quality of each student's training, identify talented young people and engage them in research work. The Competition examination board received 310 applications from 346 people. Undergraduate and postgraduate students of universities located in 34 cities of Russia, Belarus, the Republic of Kazakhstan, and the Republic of Moldova presented their works and participated in the Competition. Students from Belarus presented 37 papers. In total, the Financial University students presented 213 papers, including 66 papers of students of the University Branches, incl. 190 papers of bachelor and master program students, 11 papers of postgraduate students, and 12 papers of the Financial University College students. 37 participants got first-grade diplomas, 52 participants obtained diplomas of the second grade, 52 participants got third-grade diplomas, and 24 participants got awardee's certificates. We are glad that the Financial University students' papers were appreciated by the Competition examination board. Authors of 23 papers got first-grade diplomas, authors of 30 papers obtained diplomas of the second grade and authors of 35 papers got third-grade diplomas. Out of 112 instructors awarded with diplomas of Competition awardees' academic advisors, 65 people were the Financial University instructors, 19 people were the Financial University Branch instructors, 8 people taught at the Financial University Colleges and 20 people were the instructors employed by other Russian and overseas higher education institutions.
Russia: from the Crisis to Sustainable Development. Resources, Restrictions, Risks Eighth International Student Research Congress was held in April 2017. 100 events were organized on the Financial University premises, including the Tournament for Research Ideas and Business Projects competition (hereinafter referred to as the Tournament). At the end of the competition, six students got the first grade diplomas (2 students shared the first place). Such projects as Hobby Scanner: Application of IT to the Teaching Process Design, Stop Risk: Risk-Oriented Approach for Everyone, Application of the VR technology to Footwear Sales, Improving SMEs Economic Security Mechanisms were in special focus.
During the International Student Research Congress, the first- and second-year students presented their research projects and a research event for the secondary school students was organized. 157 students who had participated in the events got their first-degree diplomas (112 students shared the first place); 11 first-year students and 5 second-year students who presented their research projects got their first-grade diplomas (3 first-year and 3 second-year students shared the first place).
We should specifically mention such student projects as:
-Structural and Dynamic Analysis of the Federal (Public) Budget Deficit, Public Debt, Government Debt Servicing Expenses Compared with the Country's GDP for 5 Years, Russia's and Foreign Countries' Debt Sustainability Assessment;
- Analysis of the Russian Companies' Capitalization Dynamics and the Impact Made on It by Various Factors;
- Use of Blockchain Technology in Financial Organizations;
- Business Model Analysis Based on the Example of the State Tretyakov Gallery;
- Launch of a Coffee Coworking Space Startup;
- The Place and Role of Disruptors in the Breakthrough, Innovative Projects Implementation in Russia;
- Analysis of IT Project Development and Assessment of IT Project Attractiveness for Investors.
Representatives of 18 Financial University Branches (more than 400 people) including students from other universities (Lomonosov Moscow State University, Plekhanov Russian University of Economics, Russian Presidential Academy of National Economy and Public Administration, National Research Nuclear University (Moscow Engineering Physics Institute), etc.) took part in the Eighth International Student Research Congress.
The following student financial papers are worth mentioning:
- Crowdinvesting: a New Project Financing Format;
- The Impact of Brexit on the Russian Economy;
- The Impact of Innovative Financial Technologies on the Accounting and Tax Systems;
- Corporate Capitalization Management in a Turbulent Stock Market;
- Concession Bond Evaluation Specifics.
Panel discussion sessions and popular science lectures organized in cooperation with the Russian Academy of Sciences, workshops, competitions, trainings, business games, creative workshops, quizzes were held at the Science Festival held on the Financial University premises in October 2017. In total, more than 1,500 people, incl. university entrants and students from the leading Russian universities participated in the events held on the Financial University premises.
The Financial University representatives presented their works at the Central Platform designed at the Intellectual Center (the Lomonosov Moscow State University Fundamental Library) at the Twelfth Science Festival. Our University had the honor to be among the presenters at the Central Platform of the Moscow Science Festival where the participants' most interesting large-scale exhibits were presented and interactive presentations were made. The Science Festival Big Economy, Big Data exhibition included four research experiments, with each experiment lasting 10 to 30 minutes. They were:
1. Big Data as a Risk Management Tool
2. Find Your Hobby
3. BigLogistics, a Logistics Center
4. Grow Me (an educational online project based on the use of neural networks, Big Data and machine learning)
Youth Program within the Who Knows What Tomorrow Holds? Fourth International Financial University Forum held in November 2017 was a significant event. It included 38 thematic events (panel discussion session, master classes, round table discussion sessions, etc.) whose themes were in line with the Financial University Faculties' specialisms.
More than 2,000 undergraduate and postgraduate students, young researchers and experts, including the representatives of Moscow universities and universities of other Russian cities (incl. Lomonosov Moscow State University, Higher School of Economics, St. Petersburg State University of Economics, National Research Lobachevsky State University of Nizhny Novgorod, Southern Federal University, State University of Management, Plekhanov Russian University of Economics, Moscow State University and Moscow State Institute of International Relations (MGIMO), Russian Presidential Academy of National Economy and Public Administration, Moscow State University of Technology and Management, etc.) took part in the discussions. The representatives of the Financial University Branches attended the sessions of the Forum's Young Researcher Program. Moscow universities' undergraduate and postgraduate students were the most active participants.
We should mention the following significant large-scale student events held on the Financial University premises in 2017. They are:
- Accounting and Legal System Reforms in Modern Russia Second All-Russia Inter-University Student Research Forum;
-Key Areas for Modernization in the Russian Economy Field Student Conference;
- International Researcher Competition of Young Accountants, Analysts and Auditors;
- Third All-Russia Student Economic Security Conference;
- FranFinance-2017 Seventh International Research Conference of Students and Young Researchers;
- Fincontest All-Russia Financial Markets Competition;
- History of Economic Thought Annual International Student Competition
FranFinance Conference is held annually in order to engage talented young people in research and to improve the status of the French language as a language used in the business communications.
The Third International Sustainable Development Issues Congress of Young Researchers (hereinafter the Congress) was held in May 2017. It was held in the Russian cities of Moscow, St. Petersburg, Barnaul, Bryansk, Vladimir, Vladikavkaz, Kaluga, Krasnodar, Kursk, Lipetsk, Magnitogorsk, Novorossiysk, Omsk, Orel, Penza, Smolensk, Tver, Tula, Ufa, Chelyabinsk, Yaroslavl and in Almaty and Pavlodar in the Republic of Kazakhstan.
The Financial University Barnaul Branch organized the Modern Professional: the Theory and the Practice Ninth International Research Conference of Bachelor and Master Program Students within the Third Congress.
The Financial University undergraduate and postgraduate students take part in the events held Moscow and other Russian cities annually. They are: the Fourth International School of Young Economists held in Sochi, Sixth Congress of Young Researchers held in the Saint Petersburg National Research University of Information Technologies, Mechanics and Optics.
The Financial University students took part in the Territory of Meanings on the Klyazma River All-Russia Youth Educational Forum in July 2017. The Forum agenda included various panel discussion sessions, master classes, business games, competitions and project accelerators. Public figures, top managers of major companies, heads of research centers and laboratories were the Forum experts and speakers.
The key issue on the Forum agenda was the future Russian economy that will be based on the digital ecosystem, FinTech and the emerging markets operations. FinTech as a New Kind of Business, the Fight for Money and Who will Win: the New Technologies of the Traditional Banks? discussion session organized by the Financial University was one of the brightest discussion at the Forum. S.A. Solonin, Director-General, QIWI and FinTech Association; A.P. Blagirev, Director for Innovations, Otkrytie Bank; A.G. Arnautov, co-founder and Director-General, FinTechLab; M.B. Popov, co-founder and Director-General, TalkBank, D.N. Marinichev, Public Representative of the Entrepreneurs' Rights Commissioner for the President of the Russian Federation were the session speakers; V.V. Maslennikov, Doctor of Economics, Professor, Deputy Vice-Rector for Research, Financial University and Yu.M. Gruzina, PhD (Economics), Deputy Vice-Rector for Research, Financial University, were the moderators. The Financial University delegation met the universities' representatives and experts and the delegation members had a unique opportunity to talk to the experts who took part in the discussion.
The Innovative Cluster for High-Tech Companies in the Far-Eastern Federal District Financial University student project was put on a shortlist by the Center for Strategic Research experts together with 5 other projects.
The Forum program also included the All-Russia Student Research Project Competition. Mark Dudko, a Financial University student, obtained 100,000 rubles as a grant to be used to implement the FinUniverse educational project. The FinUniverse is an educational platform where people can improve their financial literacy and gain investment skills by handling cryptocurrency that can be earned by doing assignments related to digital economy and by taking courses, passing tests and getting A-s at the examinations.
The Nineteenth World Youth and Students Festival (hereinafter the Festival) opened on 15 October 2017 in Sochi. Twenty-eight thousand young people from around the world got together in one of the most beautiful Russian cities to discuss global issues. The Financial University delegation included 50 students (both participants and volunteers). During the Festival, the Financial University students managed not only to build a reputation of experts in various fields, but also to talk to world-class policy-makers and businessmen. The Festival brought together the smartest young people and the best professional speakers from around the world. The information that participants obtained during the Festival could not be found in books, magazines and any other sources. Such events highlight current trends both in the international cooperation and in solving internal issues on a national level.
The Financial University students get awards at conferences and competitions held in universities in Moscow and other Russian cities annually.
Two Financial University students were the awardees and 4 students obtained diplomas of the second and third grade at the Architecture of Finance Eighth International Conference held at the St. Petersburg State University of Economics.
The Eurasian Area: Good Neighbors and Strategic Partnerships Eighth Eurasian Youth Economic Forum was organized by the Ural State University of Economics in April 2017 in Yekaterinburg. The students of the Financial University Faculty of Management got 2 diplomas of the third grade and 2 certificates.
5 Financial University students obtained diplomas at the Digital Technologies for Sustainable Economic Growth International Student Research Conference organized by the Moscow State University and Moscow State Institute of International Relations (MGIMO).
4 Financial University students obtained diplomas at the ICT and Mathematical Modeling of High-Tech Systems Seventh All-Russia Conference organized by the Peoples' Friendship University of Russia.
5 Financial University students obtained diplomas at the Economics as a Fundamental General Discipline Third International Research Conference.
Economics and Management International Student Competition was held at the St. Petersburg State University of Economics from 9 to 14 October 2017. The Financial University was represented by the students of the Faculty of Finance and Economics, the Faculty of Financial Markets and the Faculty of Management. The Financial University students occupied 3 first places, 2 second places and one third place. They also were the winners in the Quality Business Presentation category.
A group of Financial University postgraduate students occupied the 2nd place in The Best Economist in Education and Science category at the Economist of the Year Annual All-Russia Competition.
A group of authors of the work titled Russia's Economic Development Program - 2022: the Sectoral Aspect of Import Substitution obtained a grant of 500 thousand rubles.
Takhir Gainutdinov, a Financial University graduate, was the winner at the All-Russia Competition for the Russian Academy of Sciences Award. The got the award and the money prize of 25,000 rubles.
The following was part of the University researcher activities:
- 374 research forums, congresses, conferences, including 49 international events, were organized;
- Administrative and methodological assistance was rendered to teaching and research departments, faculties during the event arrangement period;
- Cooperation was established with the Financial University partners (Collegium of the Military Industrial Commission of the Russian Federation, Chamber of Commerce and Industry of the Russian Federation, Free Economic Society Public Organization and others) in order to arrange joint research events;
- A database of research conferences was built, with the conference key characteristics itemized;
- Academic and research cooperation with government institutions, research departments and other universities was established (Economic Potential of the Industrial Development at the Service of the Defense Industry Third Conference was held; collaborative provision Department of XBRL Technologies was opened; Capital of Revolutions International Research Conference was held and other arrangements were made);
- The Financial University organized international research events (Who Knows What Tomorrow Holds? Fourth International Financial University Forum; Great Economists and Great Reforms Sixth International Research Conference; National Associations of Business Ethics: International Experience and Opportunities for Russia International Research Conference; World Economy and World Finance: Evolution of Ideas and Modern Strategies Third International Research Conference; Today's Political Economy International Round Table Discussion Session).
Who Knows What Tomorrow Holds? Fourth International Financial University Forum was the key event of the year 2017. It was attended by more than 4,000 participants from 32 countries of the world. Heads of government institutions, renowned Russian and overseas experts, bankers and business community representatives discussed ways to overcome the crisis and tried to develop a strategy for restarting economic growth in Russia in the new reality.
Robert James Shiller, Professor of Finance at the Yale School of Management, holder of the Nobel Memorial Prize in Economic Sciences, delivered an open lecture. 64 sessions were held in priority areas of Russia's social and economic development within the framework of the Forum. The Forum drew a wide response of the researcher, business and political community and got much attention from the major media.
Economic Potential of the Industrial Development at the Service of the Defense Industry Third Conference was held on 24-25 October 2017. It was attended by about 600 people. The event was supported by the Collegium of the Military Industrial Commission of the Russian Federation.
The Financial University built a good environment for an open discussion by representatives of government institutions, industry, academic community of the ways to develop practical and legal solutions in order to improve budget spending efficiency and ensure growth of defense industry enterprises' economy's potential. The participants have summarized the experience of defense industry enterprises, developed recommendations for the industry's economic management mechanism improvement, have assessed innovation introduction efficiency and the way executives are trained, have examined the financial management techniques and the reasons for the high loan debt in the industry.
Smart Technologies in Education: a Portrait of a Graduate - 2020 International Research Conference was held in March 2017. It was attended by 1,400 people, including government officials, heads of community associations, university rectors (65 universities from 47 Russian cities), headmasters of post-secondary training schools, representatives of 130 employers and representatives of 50 employers' professional associations, overseas experts from France, Great Britain, Poland, Armenia, Kyrgyzstan.
Capital of Revolutions International Conference was held on 4 – 6 October 2017. During the conference, a revolutionary period poster exhibition was organized in partnership with the State Central Museum of Contemporary History of Russia. The conference was timed to coincide with the 100th anniversary of the epoch-making event, the Great Russian Revolution of 1917, which predetermined the course of events in the world during the 20th century. About 700 people took part in the three-day conference. More than 350 people filed applications and wished to make a presentation.
Great Economists and Great Reforms Sixth International Research Conference was held in September 2017. The conference was dedicated to the 150th anniversary of the publication of the first volume of The Capital by K. Marx, a great German economist, sociologist, philosopher, public figure. The book can be seen as an independent study.
As a result of the Financial University staff active engagement in research, the bibliometric and scientometric indicators have been significantly improved and the researchers' publication indicators went up.
This put the Financial University in a better position in the university and research center rankings, according to the data available in the Russian Science Citation Index database, namely:
- The University Hirsch Index grew from 134 to 143;
- The University occupied a better position in the Russian Science Citation Index university rankings:
- 2nd place (category: number of citations over the past 5 years);
- 2nd place (category: number of publications over the past 5 year);
- 5th place (the Hirsch Index).
The Financial University had the following rankings in the 2017 calendar year:
|Description||2017 ||2016 |
|Number of publications indexed by the Russian Science Citation Index ||15,350||11 ,802|
|Number of papers in the journals ||7,216||6,063|
|Number of papers in the journals listed by the Russian State Commission for Academic Degrees and Titles ||4,202||3,113|
|Number of citations in the Russian Science Citation Index ||55, 730||42 ,757|
|The Hirsch Index ||143||134|
|Median impact factor||0.334||0.316|
|Number of publications in the Web of Science||153||50|
|Number of citations in the Web of Science||208||49|
|Number of publications in the Scopus system||269||143|
|Number of citations in the Scopus system||469||203|
Seven PhD and doctoral thesis examination boards (hereinafter thesis examination boards) are operational at the Financial University as per the order of the Ministry of Education and Science of the Russian Federation. All the above-mentioned thesis examination boards have a right to examine the PhD and doctoral theses in the following fields:
- 08.00.01 Economic Theory (economic sciences);
- 08.00.05 Economics and National Economy Management (by sector and field: management; marketing; business economics; innovation management; regional economy; economics, business, industry and sector planning and management) (economic sciences);
- 08.00.10 Finance, Money Circulation and Credit (economic sciences);
- 08.00.12 Accounting, Statistics (economic sciences);
- 08.00.13 Mathematical and Instrumental Methods Used in Economics (economic sciences);
- 08.00.14 World Economy (economic sciences).
Thirteen doctoral theses and 137 PhD theses were defended before the thesis examination boards in 2014-2017. Decree No. 1792-r of the Government of the Russian Federation of 23 August 2017 gives the Financial University a right to independently award doctoral and PhD degrees. A PhD and doctoral thesis examination board formation concept has been developed, regulatory documents have been approved by the Financial University management, the Financial University thesis examination boards' composition is determined. In accordance with Financial University order No. 1512-o of 31 August 2017, a commission chaired by Professor M. A. Eskindarov, the University Rector, Doctor of Economic Sciences, member of the Russian Academy of Education, develops the Financial University by-laws.
Cooperation with the international partners is an integral part of the University operations.
The Financial University international partners include:
- Research centers, universities and other HEIs;
- Insurance Expert and Banker Training Centers;
- Business Schools;
- Education Institution and Program Certification and Accreditation Centers, International Examination Centers that issue internationally recognized certificates;
- Banks, insurance companies, audit companies, product manufacturers;
- Overseas research foundations.
The University proactively cooperates with the partners from such countries as Austria, Bulgaria, UK, Germany, Spain, Italy, China, the Netherlands, USA and France.
The number of the University overseas partners has increased recently. The University had 30 international partners representing 18 countries in 1994, and today the University has close ties with 120 partner organizations, education institutions, research centers, financial institutions and banks from 50 countries of the world.
Over 300 international partner delegations came on a visit to the Financial University during the last 5 years. There were more than 800 international visitors in total. About 700 teaching staff members and administrative staff members went abroad on business trips during the same period.
There are 5 bachelor double degree programs on offer developed in cooperation with the following partners:
University of Northumbria at Newcastle (UK)
University of Portsmouth (Portsmouth, UK)
University of London (UK) (International Programs)
Bloomsburg University of Pennsylvania (Bloomsburg, USA)
Ecole Supérieure de Commerce (Graduate School of Management) (Troyes, Champagne-Ardenne, France)
There are 8 master double degree programs on offer developed in cooperation with the following partners:
University of Glasgow (Glasgow, UK)
University of Birmingham (Birmingham, UK)
Dublin Institute of Technology (Dublin, Ireland)
Banking Institute/Higher School (Prague, Czech Republic)
EMLYON Business School (Lyon, France)
Business School, Ecole Supérieure de Commerce (Graduate School of Management) (Troyes, Champagne-Ardenne, France)
École Nationale d'Assurances (National School of Insurance) (Paris, France)
Conservatoire National des Arts et Métiers (Cnam) (Paris, France)
There are 42 student exchange programs organized in cooperation with the following universities:
University of Vienna (Vienna, Austria)
Bremen University of Applied Sciences (Bremen, Germany)
University of Cologne (Cologne, Germany)
University of Potsdam (Potsdam, Germany)
Otto Beisheim Higher School of Management (Koblenz, Germany)
Frankfurt School of Finance and Management (Frankfurt on the Main, Germany)
University of Bari Aldo Moro (Bari, Italy)
University of Perugia and the University of Salento (Lecce, Italy)
University of Alcalá (Alcalá de Henares, Spain)
King Juan Carlos University (Madrid, Spain)
University of Cadiz (Cadiz, Spain)
Complutense University of Madrid (Madrid, Spain)
Jacksonville University (Jacksonville, USA)
The University of Western Ontario (London, Ontario, Canada)
Liaoning University (Shenyang, China)
University of International Business and Economics (Beijing, China)
Central University of Finance and Economics (Beijing, China)
University of St. Gallen (St. Gallen, Switzerland)
Jean Moulin - Lyon 3 University (Lyon, France)
Toulouse 1 University Capitole (Toulouse, France)
Conservatoire National des Arts et Métiers (Cnam) (Paris, France)
London Metropolitan University (UK)
Anglia Ruskin University (UK)
University of Derby (UK)
Pforzheim University (Hochschule Pforzheim) (Germany)
John Cabot University (Rome, Italy)
Roma Tre University (Universitá degli Studi Roma Tre) (Italy)
Polytechnic University of Milan (Italy)
Higher School of Management at Angers (ESSCA) (with campuses located in Paris, Budapest and Shanghai) (France)
Groupe ESC Clermont Graduate School of Management (France)
Paris Diderot University - Paris 7 (France)
Toulouse Business School – Groupe ESC Toulouse (France)
EMLYON Business School (Lyon, France)
The University of the South, Toulon-Var (France)
The University of Nice Sophia Antipolis (France)
University Institute of Lisbon (ISCTE-IUL) (Portugal)
Kanagawa University (Japan)
Surrey International Institute – Dongbei University of Finance and Economics (SII-DUFE) (China)
Institute for Advanced Studies (Austria)
The Neapolis University Cyprus in Pafos (Cyprus)
Maria Curie-Skłodowska University in Lublin (Poland)
Adam Mickiewicz University in Poznań (Poland)
There are 2 international МВА programs organized in cooperation with the following Universities:
- Frankfurt School of Management and Finance (Frankfurt on the Maine, Germany);
- International Academy of Business (Alma-Ata, Kazakhstan).
Cooperation in Research
The key areas of cooperation are the following:
- Organization of international research conferences, symposia, seminars, roundtable discussions on the Financial University premises;
- Participation in the international research conferences, congresses, symposia, and seminars that are held abroad;
- Participation in joint research projects;
- Organization of youth international programs;
- Preparation of international publications of papers authored by the Financial University teaching staff
- Exports of educational services (training of experts who could offer their services abroad).
The number of international students at the University has increased significantly recently. There were 292 international students from 38 countries in 2004 and there were 340 international students in 2008. As at early 2015, there were 1,137 international students at the University from 45 countries of the world.
Over the past 5 years, 160 international teaching and expert community members participated in internship programs at the University.
Visiting Professors/Import of Educational Services
During the past 2 years the renowned economists, civil servants, policy makers and representatives of the business community came to the Financial University to offer a lecture or a series of lectures to the University students.
There were the following persons among the visiting lecturers:
- Muhammad Yunus, a Nobel Peace Prize winner;
- Grzegorz Witold Kołodko, a renowned Polish politician and scholar;
- Herta Däubler-Gmelin, former member of Bundestag, Chairman of the Committee for Human Rights and Humanitarian Aid;
- Martin Hagen, President of the Institute of Chartered Accountants in England and Wales (ICAEW);
- Manfred Weber, Chief Executive Officer at the Association of German Banks;
- P. Ostling, Director General and CEO at the Kungur Oilfield Equipment and Services;
- Ichak Kalderon Adizes and L. Dore, renowned American scholars;
- P. Schmidt, D. Haase, and A. Pohl, renowned German scholars;
- R. Frehner, a Swiss banker;
- D. Townsend, practicing British auditor and prominent expert in international financial reporting standards;
- Jesús Huerta de Soto, Professor at the King Juan Carlos University (Madrid, Spain);
- Edouard-François de Lencquesaing, Professor, Advisor to the Government of France, President, European Institute of Financial Regulation (EIFR) (France);
- István Lengyel, Secretary-General, Banking Association for Central and Eastern Europe (BACEE);
- Aydın Adnan Sezgin, Extraordinary and Plenipotentiary Ambassador of Turkey to the Russian Federation;
- Frank Cohen, President of SAP EMEA;
- Celia Correa, Head of the Federal Budget Secretariat at the Ministry of Planning, Budget and Management (MPOG) (Brazil); and some others.