News

On 2 October 2009 the Finance Academy was visited by a delegation from Friedrich Ebert Foundation (Friedrich Ebert Stiftung, FRG) led by Director for Central and Eastern Europe of that Foundation Mr. Matthes Buhbe, Doctor of Political Science and Doctor Honoris Causa of the Finance Academy. The delegation also included Dr Reinhard Krumm, head of the FES office in the Russian Federation.

The programme of the German delegation's visit to the Finance Academy provided for a meeting with Prof. M.A. Eskindarov, Rector, and participation in the meeting of the Club of Political Dialogue attended by the faculty members and students of the Finance Academy.

The meeting with Rector focused primarily on the development of cooperation between the Finance Academy and Friedrich Ebert Foundation, particularly in view of the fact that a new faculty - the Faculty of Law and Political Science has been set up at the Academy. The representatives of the FES expressed their willingness to provide assistance and support to the new faculty and to the Finance Academy in general and offered, in particular, their help in finding a German partner for the new faculty, in training graduate and post-graduate students, in academic exchanges, and so on.

The meeting with Rector was also attended by Prof. V.V. Doumny, Pro-Rector for International Cooperation, and Prof. Y.A. Pleis, Head of the Department of History and Political Science.

The meeting with faculty members and more than 70 students was devoted to the results of the recent parliamentary elections in the Federal Republic of Germany and prospects for Russian-German relations. Mr. M. Buhber presented a profound analytical paper on this subject, which arouse a keen interest of the attendees, who asked numerous questions, all of which were given exhaustive answers. The meeting lasted for about two hours and, in the unanimous opinion of all its participants, was useful to both parties.

The meeting of the Club of Political Dialogue was chaired by Kirill Danilov, a third-year student of the Faculty of Law and Political Science and President of the Club, and Prof. Y.A. Pleis, the Club Adviser. Prof. V.K. Pospelov, Pro-Rector of the Finance Academy and Dean of the Faculty of Law and Political Science, was also present at the meeting.

On 28 September 2009 Prof. Jeremy D. Brown, President of Edinboro University of Pennsylvania (USA), paid a visit to the Finance Academy. He was accompanied by O.A. Zinovieva, Coordinator of International Programmes at the Centre on Russia and the USA based at Moscow State University.

The meeting was attended by B.M. Smitienko, Pro-Rector for Academic Affairs, and V.V. Doumny, Pro-Rector for International Cooperation.

The parties exchanged information on the main areas of educational and research activities carried out at the Finance Academy and at Edinboro University.

Prof. J. Brown, speaking about the various educational programmes offered to students at Edinboro University, pointed out that undergraduate programmes leading to a bachelor degree include programmes in business and economics. He also said that his university widely applies innovative teaching methods such as distance and multimedia learning.

Edinboro University, as Prof. Brown stated at the meeting, would be interested in establishing relations of cooperation with the Finance Academy. The parties further discussed individual student exchanges on double degree programmes as well as mutual credit recognition for students studying at the partner university for one or two semesters, exchange of groups of students on “summer school” programmes, a possibility of faculty exchange, including a “visiting professors” programme. The focus of discussion at the meeting was cooperation in providing distance learning facilities. The two parties agreed to continue consultations with the aim to identify the priority areas and forms of possible cooperation.

It was also agreed that a draft memorandum of understanding should be worked out as the first step on the way to interaction between the two universities.

On 22 September 2009 Mrs Isabelle Malique-Park, Head of the International Relations Office, Singapore Management University (Republic of Singapore), visited the Finance Academy on a working visit. She had meeting with prof. V. Dumny, pro-rector for International cooperation and prof. A. Ilyinsky, Dean of the International Finance Faculty (IFF).

The parties exchanged information on the main trends of activities of their universities. The colleague from Singapore informed that the Singapore Management University, founded in 2000, is a dynamically developing state university of Singapore with more than 6000 students studying at 6 faculties and carrying out many educational programs in economics, accounting, law, social sciences etc.

The Singapore Management University has more 300 international students from 40 countries of the world who study in the framework of student exchange programs based on agreements on cooperation with partner universities of all continents.

Discussed were prospects of interuniversity cooperation with the Finance Academy, primarily in the framework of student exchanges in bachelor programs for one or two semesters. Possibility of faculty members exchanges for lecturing was also discussed. The parties discussed cooperation in MBA programs, particularly short-term (1-2 weeks) study trips of MBA students.

On the invitation of A. Ilyinsky, Dean of the International Finance Faculty, Mrs Isabelle Malique-Park visited classroom studies. She highly appreciated students” language skills and academic level..

Participants of the meeting expressed mutual desire to promote contacts and to sign in the near future a Memorandum of Cooperation.

On 21 September 2009, a delegation of the Department of Education of Liaoning Province, People’s Republic of China, paid a visit to the Finance to exchange experience in organizing educational and research activities and to discuss opportunities for cooperation. The delegation consisted of Mr. Zhou Haobo, Deputy Director of the Department, Mr. Sun Hualin, Head of the Higher Education Section of that Department, Mr. Wang Qingdong, Head of the Postgraduate Programmes Section, Mr. Shi Tiemao, Pro-Rector of Shengyang Engineering and Architecture University, and Mr. Cui Zheng, translator of Liaoning University.

The Finance Academy was represented at the meeting with the Chinese colleagues by M.A. Fedotova, Pro-Rector for Research, V.K. Pospelov, Pro-Rector, V.V. Doumny, Pro-Rector for International Cooperation, A.I. Ilyinsky, dean of the International Finance Faculty, S.V. Bezhanova, Dean, International Admissions.

On behalf of the rector of the Finance Academy Prof. M.A. Eskindarov, the Chinese guests were greeted by V.V. Doumny, Pro-Rector for International Cooperation, who made a presentation of the Finance Academy informing the Chinese colleagues on the main areas of the educational, research and international activities of the Academy and dwelling, in particular, on the issues of our cooperation with Chinese universities, including Liaoning University, Dongbei University of Finance and Economics, Shanghai University of Finance and Economics and expressing our interest in strengthening partnership relations with them. V.V. Doumny emphasized that the Finance Academy takes pride in the fact that Prof. Cheng Wei, Rector of Liaoning University, is one of its graduates.

M.M. Fedotova, Pro-Rector for research, focused on the issues of cooperation with Chinese universities in the research area. She, in particular, pointed out the interest that the scholars of the Finance Academy take in studying China’s experience in preserving relative financial and economic stability at the time of the current global crisis.

Pro-Rector V.K. Pospelov briefly informed the Chinese colleagues on the transition of Russian education to the multi-level bachelor-master system based on the state standard in Economics.

Dean of the International Admissions Faculty S.V. Bezhanova reminded that more than 100 citizens of the PRC have graduated from the Finance Academy, and currently there are 370 foreign students from 45 countries, including 5 students from China, are studying with us. Ms. Bezhanova also said she hoped that the number of Chinese students would substantially increase at the Finance Academy in the near future.

Speaking at the meeting, Prof. A. I. Ilyinsky, Dean of the International Finance Faculty, said he would be ready to consider enrollment of student of the universities of Liaoning Province on both bachelor’s and master’s degree programmes run by his faculty.

The Chinese colleagues wanted to know what sources of financing there are for public educational institutions in the Russian Federation in general and, in particular, what sources of funds are available to the Finance Academy, what the system of interaction between the Government of the Russian Federation and the Finance Academy is like, and asked many other questions.

Mr. Zhou Haobo, head of the Chinese delegation, thanked for the warm reception and said the universities of Liaoning Province (there are more than 90 of them) are interested in establishing relations of cooperation with the Finance Academy, adding that he will work towards the increase in the number of Chinese students applying and entering the Finance Academy.

The Chinese guests from Liaoning also visited the library-and-information centre of the Finance Academy and were shown its multimedia facilities and reading rooms and, finally, went around the Museum of the Finance Academy.

Prof. Alexander Pohl (FRG), Director of the European Business School (Frankfurt-am-Main), professor of the University of Trier and President of Scopevisio - a major software provider stayed at the Finance Academy as a visiting professor from 16 to 19 September 2009. Prof. A. Pohl gave lectures in English on the problems of price determination in monopolistic and polypolistic markets for the second-year students of the International Finance Faculty and third-year students of the International Economic Faculty. The lectures were delivered interactively: students asked questions and made comments in the course of the lecture at the lecturer's request. Prof. Pohl also made a speech at the open meeting of the Microeconomics Department, its subject covering latest trends in pricing. Besides the Microeconomics Department members, the meeting was attended by the heads and members of the departments of financial management, audit, economics and crisis management, marketing, and others, as well as International School of Business (more than 40 attendees). The lecture aroused much interest, and numerous questions were asked concerning both the theory and practice of price determination. All questions were given detailed educated replies. The prospects of scientific cooperation and possible implementation of joint research projects were also discussed at the meeting. Prof. Pohl was received by Prof. M.A. Eskindarov, Rector of the Finance Academy, who delivered a Certificate of the Visiting Professor of the Finance Academy under the Government of the Russian Federation to the guest. During the conversation that followed, A.Pohl expressed a high opinion of the erudition and the high level of the English language knowledge which the students showed in the course of the interactive lectures.

The two parties reached an agreement that Prof. Pohl will deliver lectures for the master's degree programme students of the Finance Academy and for the students of the International School of Business in the second semester of the current academic year 2009/2010. The issues of cooperation in the research areas were also discussed. In conclusion, the Rector of the Academy wished Prof. Pohl every success in his research, teaching and business activities.

On 17 September 2009, Prof. M.A. Eskindarov, Rector of the Finance Academy, received a delegation representing the Economic Faculty of Vienna University (Austria), including Prof. G. Pflug, Dean, and professors R. Hochreiter, R. Kowatsevitch and A. Pitchler. The delegation visited Moscow to attend a Russian-Austrian scientific seminar.

The two parties expressed their mutual satisfaction with the progress in bilateral cooperation. Added to regular student and faculty exchanges, which started in 2003, has been recent collaboration with the aim to prepare and conduct an international seminar on Modern Methods and Models of Financial Risk Management.

Prof. Eskindarov particularly emphasized the topicality of the seminar subject from the viewpoint of the current trends in the development of the real and financial sectors of the economy and pointed out the bare fact that the first in the history of the Finance Academy Russian-Austrian seminar has been held.

Prof. Pflug and his Austrian colleagues, in their turn, expressed their appreciation of the high scientific and organizational level of the seminar and spoke for the continuation of the joint research that has been commenced, suggesting that the following seminar on risk management in energy markets be held in Vienna in September 2010.

During their meeting, the two parties also discussed possibilities for the further expansion and intensification of bilateral cooperation between the Economic Faculty of Vienna University and the Finance Academy through joint educational and research projects, first of all the visiting professors project, and by intensifying scientific links.
Interested?! For more information about the seminar visit this page, please.

On 17 September 2009, Prof. M.A. Eskindarov, Rector of the Finance Academy, had a meeting with Mr. То Ngong HUONG, Rector of the Banking Academy under the State Bank of the Socialist Republic of Vietnam, who visited the Russian Federation to attend the 8th Session of the Working Group on Interbank Cooperation of the Russian-Vietnamese Intergovernmental Commission for Trade-and-Economic and Scientific-Research Cooperation, which was held on 13-15 September in Rostov-on-Don.

The meeting at the Finance Academy was also attended by Prof. B.M. Smitienko, Pro-Rector for Academic Affairs, and Prof. V.V. Doumny, Pro-Rector for International Cooperation.

The heads of the two academies exchanged information on the key issues concerning the organization of the educational process and research activities in the contemporary context.

Speaking at the meeting, Prof. Eskindarov reminded that more than 400 Vietnamese citizens graduated from the Finance Academy at different times, many of whom successfully completed post-graduate programmes, defended Candidate’s dissertations and, at present, hold leading positions in the Ministry of Finance, State Bank of Vietnam and other financial and banking institutions.

Mr. То Ngong HUONG, in his turn, expressed profound gratitude to the administration and faculty of the Finance Academy for their assistance in preparing highly-qualified specialists for the Vietnamese financial and banking sector.

Dr. То Ngong HUONG also informed his counterparts of the interest that the Banking Academy of Vietnam takes in expanding collaboration with the Finance Academy in banking education and increasing its contribution to the training of specialists for the Vietnamese banking sector through bachelor’s and master’s degree programmes and of research and teaching personnel through post-graduate and doctoral programmes.

Prof. Eskindarov, in his turn, suggested considering a possibility of faculty exchange to give lectures and conduct master-classes, as well as availability of business education programmes.

The two parties agreed to prepare a comprehensive agreement between the two academies, covering the whole range of cooperation in the educational and research areas.

Rector То Ngong HUONG nvited Prof. Eskindarov to visit the Banking Academy under the State Bank of Vietnam at any time convenient to the Russian party. The invitation was accepted with gratitude. The dates of the visit will be determined in due course.

On 7 September 2009, Ms Susan Festa, Director for International Development of the Institute of Chartered Accountants in England and Wales (ICAEW) paid a visit to the Finance Academy to discuss the accreditation of the accounting training programmes run by the Finance Academy.

In the negotiations that took place, the Finance Academy was represented by Prof. B.M. Smitienko, Pro-Rector for Academic Affairs, Prof. V.V. Doumny, Pro-Rector for International Cooperation, and Prof. V.G. Getman, Head of the Accounting Department.

Speaking about the educational programmes of the Finance Academy, Prof. Smitienko emphasized that the ICAEW's offer of accreditation is of particular importance now, in the conditions of transition in the academic year 2009-2010 to the two level (bachelor's and master's degree) system of professional education.

Ms S. Festa briefed the Russian party on the substance of the ICAEW's offer, which is accreditation of the Finance Academy's accounting training programmes with the ICAEW so that the FA graduates who have at least 1.5 years practical experience in accountancy could have an opportunity to complete the relevant study programme within a shorter period of time and take an ICAEW's professional exam in English. The representative of the Institute of Chartered Accountants handed over a set of documents containing questionnaires to be filled out in the process of preparation for accreditation. The FA negotiators also reminded Ms Festa of the Finance Academy's proposals made and discussed earlier, during the previous visit to the Finance Academy of the vice-president of the Institute of Chartered Accountants, Mr. M. Hagen, when the Finance Academy suggested that we send our faculty members to the ICAEW so that they can do short-term skill development programmes in English and Welsh companies and, in turn, receive British experts representing the Institute of Chartered Accounts in the capacity of lecturers delivering sets of lectures for the faculty members and students of the Finance Academy.

The meeting participants expressed their satisfaction with its results and agreed on the follow-up actions aiming at the implementation of the agreement that has been reached.

On 8 September 2009, a delegation from Northumbria University (Newcastle, UK) including Prof. Paul Croney, Dean of Newcastle Business School, Prof. Ceridwyn Bessant, Associate Dean for Postgraduate Programmes, and Tim Nichol, Associate Dean for Undergraduate Programmes visited the Finance Academy to discuss the issues of the development of bilateral cooperation. The delegation was received by Prof. M.A. Eskindarov, Rector of the Finance Academy. Both parties expressed a high opinion of the way the inter-university contacts are developing as well as their satisfaction with the recent signature of the Memorandum of Cooperation. The possibilities to further expand mutual contacts and, in particular, the prospects for making an agreement regarding dual master's degree programmes as well as collaboration in the area of business education were also discussed at the meeting. The Rector of the Finance Academy expressed a wish for the leading Northumbria University's experts to take part in the academic process at the Finance Academy in the capacity of visiting professors. Special attention was paid in the course of the negotiations to the consideration of plans to organize a seminar for a group of senior administrators of the Finance Academy, which, by mutual agreement, is to be held in Newcastle from 20 to 24 October this year. Prof. Eskindarov emphasized that the forthcoming seminar should focus on the problems of organization of module-based teaching, in particular, on the proportion of class work and of self-study assignments for students, and on the problems of the estate management arrangements, campus management, etc.

Following negotiations with the Rector, the delegation had a number of business meetings to consider specific areas of cooperation with the vice-rectors of the Finance Academy: Prof. B.M. Smitienko, Pro-Rector for Academic Affairs; Prof. V.N. Sumarokov, Pro-Rector and Dean of the International Economic Faculty (IEF); Prof. V.V. Doumny, Pro-Rector for International Cooperation.

The delegation of Northumbria University also met with N.A. Evtikhieva, Director of the International School of Business (ISB) of the Finance Academy. The parties reached an agreement on the development of a joint dual MBA degree programme and on the participation of Newcastle Business School in the DBA programme of the ISB of the Finance Academy.

During a meeting of the Northumbria University delegation with Prof. A.I. Ilyinsky, Dean of the International Finance Faculty (IFF), the parties discussed prospects for cooperation in the area of the development and implementation of joint bachelor's and master's degree programmes. Representatives of both Northumbria University and the Finance Academy expressed their satisfaction with the results of negotiations they had held, speaking in favour of the further development of fruitful cooperation between our universities.

Delegation of Nanchan University (People's Republic of China) headed by its Vice President Chek Young visited the Finance Academy on the 24 June, 2009. Purpose of the visit was to exchange information and discuss issues of developing bilateral cooperation in educational and research spheres. The delegation was warmly greeted by the Professor M. Eskindarov, the Finance Academy Rector. He expressed appreciation of the results of interuniversity contacts which started as the result of signing on the 05.09.2009 the Protocol of Intentions and spoke for further facilitation and promotion of bilateral cooperation. An invitation to visit the Nanchan University was accepted by the Rector with pleasure. Timing of the visit will be agreed additionally.

Professor V. Doumny, Pro-rector for International Cooperation made a presentation of the Finance Academy and told about its educational and research activities.

The delegation held working meetings with V. Pospelov, Pro-rector, G. Sillaste, Head of Sociology Department, Ya. Plyais, Head of History and Political Science Department, M. Skibitsky, Professor of Philosophy Department. These meeting were devoted to discussions of specific issues of cooperation on interuniversity and interdepartmental levels.

Delegation of Kangnung-Wonju National University (South Korea) led by its President Professor Song Han visited the Finance Academy from 18 to 20 June 2009.

Prof. V. Dumny, Pro- rector for International Cooperation, made a presentation of the Finance Academy and told about its history, structure, educational and scientific research activities.

The delegation held working meetings with B. Smitienko, Pro-rector for Academic Affairs, and M. Fedotova, Pro-rector for Scientific Research. Discussed were prospects of cooperation in educational and research spheres.

The delegation also had a meeting with Professor A. Ilinsky, Dean of the International Finance Faculty (IFF). He informed the guests of the IFF curriculum. The parties agreed to start the development of joint Russian-Korean masters program in international finance.

The delegation was received by Professor M. Eskindarov, the Finance Academy Rector. During the negotiations both parties expressed their interest in facilitating cooperation.

Memorandum of Understanding and Agreement on Student Exchange were signed following the results of the visit. The parties regard them as a basis for long-term bilateral cooperation between the Finance Academy and Kangnung-Wonju National University.

On 23 June 2009 after the termination of the International scientific conference “Moscow as an Emerging Financial Center” in the premises of the Finance Academy under the Government of The Russian Fedration will be held the first meeting of the Russian-German working group cooperating in the field of development of Moscow as an International Financial Centre (IFC). The meeting is organized by State Debt Committee of the City of Moscow, Financial Agency of the City of Moscow (Mosfinagency) and Frankfurt Main Finance. The meeting will be held with participation of the members of the Advisory Consultative Board for Development of Moscow as a National and International Financial Centre. The session of the Group starts at 14/00 The Agenda of the session is given below.

Programme

On 23 June, 2009, the Finance Academy under the Government of the Russian federation and one of the leading German universities Frankfurt School of Finance and Management /University are holding an international scientific conference to the topic of Moscow as an Emerging Financial Centre (see further).

A broad range of issues are planned to be discussed at the Conference. They will be related to the theoretical and organizational aspects of the development of financial centres, their legal frames as well as possibilities and prospects for Moscow to become an International Financial Hub. Mr. Y. Roslyak, First Deputy Mayor of Moscow, Mr. D. Posch , Hessian Minister of Economics, Transport, Urban and Regional Development, Mr. S. Pakhomov, Chairman of the State Debt Committee of the City of Moscow, Mr. G. Tosunyan, President of the Association of Russian Banks as well as heads of the leading financial companies and banks of Russia and Germany, prominent Russian and German scholars will take part in the Conference.

The Conference is being supported by the State Debt Committee of the City of Moscow and by the initiative of “Frankfurt Main Finance a family brand of the Financial Hub Frankfurt/Main”.

The Conference will be held to the address: 55, Leningradskiy Avenue, Academic Council Conference Hall, room 213, opening of the Conference – 09:00; beginning of the registration - 08:30.

Please, confirm the participation in the Conference to: omns@rambler.ru, vsedoum@rambler.ru, fax (499) 157 57 12, tel. (499) 943 94 21, (499) 943 9501

Programme

On the 25 May 2009 the delegation from Glasgow University had a meeting at the Finance Academy. The main issues discussed were joint masters program and the possibility of obtaining "dual degree" for the students of the Finance Academy International Finance Faculty and Glasgow University Faculty of Law, Business and Sociology.

Glasgow University delegation included Prof. Noreen Burrows (Faculty Dean), Prof. Jo Danbolt (Deputy Dean), Prof. John Holland, Prof. Clive Emmanuel, Associate Prof. Mark Aleksanyan. At the meeting the Finance Academy was presented by Prof. B. Smitienko, Pro-rector for Academic Affairs, Prof.V. Doumny, Pro-rector for International Cooperation, Prof. A. Ilyinsky, IFF Dean, Prof. A. Suetin.

Glasgow University delegation was received by Prof. M. Eskindarov, the finance Academy Rector.

Founded in 1451 Glasgow University is the fourth oldest British university and the biggest educational institution of Scotland. It\s in the top ten leading British universities and enjoys the world glory of a university with high level of educational standards and research activities.

Faculty of Law, Business and Sociology is one of the leading centers for legal and social studies in Britain and a recognized world-level research center. More then 60% of its faculty members are in the 5 or 5 * rankings of the Royal Research Assessment Exercise (RAE).

In February of this year the Finance Academy International Finance Faculty and Glasgow University Faculty of Law, Business and Sociology signed a Memorandum of Understanding on Academic Cooperation. Last meeting was dedicated to discussions of further cooperation in educational sphere and reviewing draft bilateral Agreement. This Agreement will allow masters from the International Finance Faculty who successfully completed two or three semesters at the Finance Academy to be entitled to study during one semester at Glasgow University. After successful defense of master's thesis they will obtain masters degree of Glasgow University in International accounting and financial management or International finance and financial institutions.

Participants of the meeting took a favorable view of its results and agreed to continue alignment of masters programs and prepare the draft Agreement for signing in the near future.

On 25 May 2009, a delegation form Zagreb School of Economics and Business (ZSEB) headed by Mr. G. Nyarvo, Rector, paid a friendly visit to the Finance Academy. Our Croatian colleagues thanked for an interesting presentation of video information about the Academy and, in turn, talked in detail about the history and successful activities of the first private higher school in Croatia, which has recently celebrated its 15th anniversary. As Prof. Nyarvo said, international finance, banking, and management programmes run at ZSEB on the postgraduate (master’s degree) level and at the faculty of business administration are based on the world’s best traditions accepted by higher schools in the USA, UK, France, etc.

Prof. B.M. Smitienko, Pro-Rector for Academic Affairs, Prof. V.V. Doumny, Pro-Rector for International Cooperation, Prof. A.L. Denisova, Director of the Institute of Business Administration and Business, Prof. I.Z. Yarygina, Head of the Department of International Monetary and Financial Relations, took part in the discussion of prospects of cooperation between our two institutions. The two parties agreed to prepare a draft agreement of cooperation covering exchange of students, faculty members, and trainees as well as joint research projects on the topical problems of the world economy and international monetary, credit and financial relations and expressed their satisfaction with the results of the first meeting and hope for the development of broad and productive relationship.

From 3 to 11 May 2009, a group of 17 students of the finance Academy, representing the faculties of management, international economic relations, mathematical methods in economics and risk analysis, part-time, finance and credit, taxes and taxation, and law, accompanied by V.V. Doumny, Pro-rector for International Cooperation, and Ms T.N. Semenova, Head of the Department for Extracurricular Activities, went on a study tour of the cities of Lecce and Bari, South of Italy.

Cooperation in the educational and research areas between the Finance Academy, on the one hand, on the one part, and universities of Bari and Salento (the city of Lecce) has been successfully developing during the last ten years. One of the important components of this cooperation is regular exchange of groups of students and faculty members for short-term visits. In November 2008, a group of students and faculty members from Salento University paid a visit to the Finance Academy. The trip of the Finance Academy students to Italy in May was a return visit.

Most of the time on the Italian land was spent in Lecce.

In evidence of great attention that the administration of Salento University paid to the visit of the Finance Academy delegation goes the fact that it was received by Prof. Dominico La Forgia, Rector, who attended the farewell event as well. Prof. La Forgia welcomed the delegation heartily and said that he attaches great importance to the development of relations of cooperation with the Finance Academy. He made a brief presentation of Salento University, pointing out its two most prominent features – focus on the most advanced scientific research and international character of all the University’s activities.

The Economic Faculty of Salento University, which is named after the prominent Italian economist Antonio de Vitti de Marco, was presented by its Dean, Prof. Stephano Adamo.

Salento University was founded in 1956 and now has 28,000 students, 750 faculty members, and the administrative staff of 635, working and studying on the University’s three campuses, in its 22 research centres and institutes.

There are 10 faculties at Salento University. The Economic Faculty set up in the academic year 1987/88, which in fact hosted the Finance Academy’s group of students, is one of the leading faculties at that University.

Transition of Italian higher education institutions, including Salento University, to the multi-level system of education is already underway; the duration of the first level (bachelor’s degree) programme is 3 years, the second level (master’s degree) programme is 2 years (providing for intensive specialization). Graduates have prospects in а) civil service, b) further education on MBA programmes, c) research career after completion of doctoral studies.

The programme of the visit proposed by the Economic Faculty of Salento University included, first of all, some class-room learning sessions.

It began with a lesson of “Italian for foreign students” during which are students learned some most commonly used and useful Italian words and expressions.

The Finance Academy students were offered a set of six lectures on the topical problems of economic development in the conditions of the global financial crisis with focus on the processes occurring in economies of transition. The lectures were delivered by the leading professors of the Economic Faculty: Camilla Mastromarco (The Sources and Determinant Factors of Production Growth in Countries with Economy in Transition), Donatella Porrini (The Policy of Protection in the Conditions of Financial Crisis), Paolo Locci (Balance of Stability: Modern System of Communications), Vinchenco Gentile (Insurance markets in Countries with Economy in Transition: Overall Review and Prospects), Alessandro Peluzo (Psychological Factors Influencing the Use of Innovations by Entrepreneurs and their Approach to Marketing), Irene Prete (Consumption and Propensity to Consume Organic Food Products). All lectures aroused much interest and were followed by students’ numerous questions, often turning into discussion.

The study tour programme further included visits to three enterprises:

• a coffee plant (Quarta Caffe);
• meat-processing plant (sausage manufacture Salumificia Scarlino);
• foot-ware factory (Gruppo Filanto).

In all three enterprises, our students were given an opportunity to see the successive stages of the production process, to get acquainted with the principles of business management, safety arrangements and precautions, etc. The three visits impressed the students greatly, and they asked the managers many questions about the workers’ and employees’ salaries and emoluments, sales and distribution, marketing, etc.

Finally, cultural and sports events were an important part of the programme of the delegation’s stay in Lecce. Our students were invited to measure strength in a football match with the picked team of Salento University. The students of the Finance Academy showed their worth, winning a prize by good play in the end.

The cultural programme included a tour of the city of Lecce with a walk around its historic centre, a ride along the seacoast in the town of Otranto, a visit to the Cestine natural park in Akaia, etc.

The final event in Lecce was a function attended, apart from our delegation, by the faculty members and students of Salento University as well as students from the USA and other countries who were then studying in Lecce. Rector of Salento University personally presented a certificate of successful completion of the study programme to each student of the Finance Academy. The group leader was handed over a commemorative badge of the University Sports Centre of the city of Lecce for achievements in sports (football match).

Our students made a presentation of the finance Academy and gave a concert which greatly impressed the audience.

On 9-10 May our delegation stayed Bari. There the students were received by Prof. Giuseppe Patruno, Dean of the Economic Faculty of the University of Bari, who wished the group an enjoyable stay in Bari and reminded of the partnership relationship binding our institutions.

The delegation of the Finance Academy made a tour of the city of Bari and attended a celebration ceremony held on the occasion of the Feast of St. Nicholas the Wonderworker.

During the business meetings that were held in the course of the visit, the delegation leader and representatives of the administration of Salento University and the University of Bari discussed possibilities for wider inter-university cooperation in the future. An agreement has been reached with Salento University to intensify efforts in organizing Italian language courses at the Finance Academy as well as on the exchange of papers written by the scholars of the two universities for publication in scientific journals on a permanent basis, etc. The issues discussed with the representatives of the University of Bari included a possibility of reciprocal study tours for groups of students and faculty members in the year 2010, development of a joint educational double-degree programme with English as the language of instruction, as well as research cooperation – a joint research project, exchange of publications, etc.

A group of students of Cologne University, one of the most old, biggest and leading German universities, visited the Finance Academy on 10-20 May of this year.

The visit was held in the framework of interuniversity cooperation in education and research which is being implemented during the last three years on the basis of effective Memorandum. The visit was the forth student exchange between the Cologne University and the Finance Academy (group of the Finance Academy students visited Cologne this April).

Study tour of Cologne University students was very intensive. They listened to lectures of leading Finance Academy professors. Prof. V. Doumny, pro-rector for international cooperation, made a presentation of the Finance Academy.

Lectures delivered by leading Finance Academy professors on Russian Culture and Art, Russian Rapidly Growing Firms and Crisis, Russian Financial Market, Global International Relations in the Beginning of the 21 Century, Place and Role of Russia in World Economy were very rich in content.

Students also visited different financial and credit institutions, among them VTB Bank, Ernst &Young auditing company, ROSNO insurance company.

German students also enjoyed interesting cultural program. They visited the State Tretyakov Art Gallery, Kolomenskoye open-air museum, museums of the Moscow Kremlin and Christ the Savior Cathedral, Vorobevskye Gory, Victory Park memorial complex and State Pushkin Fine Arts museum.

Well organized and packed program of stay allowed the German students in a short period of time to shape a better outlook on the general economic situation in the country and enrich knowledge of Russian history and culture.

Before their departure on 19 May a group of German students was received by prof. M. Eskindarov, the Finance Academy Rector. He presented them with certificates of successful completion of the educational and familiarization program. Students expressed their appreciation of the possibility to visit one of the leading Russian economic universities. Prof. M. Eskindarov supported exchange of the study tours between the Cologne University and the Finance Academy and highlighted its contribution to promoting better understanding between the two universities' students. He spoke for further development and facilitation of interuniversity exchange in educational and research spheres.

Michel G. Maila, PhD, Vice-President of the World Bank Group, visited the Finance Academy on 13 May 2009.

A lecture on the current problems of contemporary international finance delivered by Mr. Maila for the students of the International School of Business of the Finance Academy focused on the comprehensive analysis of the causes of the world financial crisis and, particularly, on its lessons. Due to the lecturer's high professional level and twenty-five-year experience in international banking, he was able to give an in-depth review of the most complex pressing problems in the development of the financial sector of the economy. The issues discussed in the lecture aroused considerable interest of the audience.

At a meeting held by the Department of International Monetary and Financial Relations, which Mr. Maila attended, the guest and the faculty of the Department discussed possibilities for cooperation in the educational and research areas. The authorized representative of the International Finance Corporation (IFC) in Central and Eastern Europe Mr. Thomas Kraus took part in the discussion, answering the numerous questions of the attendees.

Mr. Maila was received by Prof. M.A. Eskindarov, Rector of the Finance Academy. The two parties discussed a possibility for the representatives of the World Bank to give lectures at the Academy and other issues of prospective cooperation between the Finance Academy and the World Bank structures.

On 18 May 2009, the Finance Academy was visited by Walter B. Gyger, Ambassador Extraordinary and Plenipotentiary of the Swiss Confederation in the Russian Federation, accompanied Mr. A.A. Melnikov, science and technology specialist of the Embassy of Switzerland in Moscow.

The Ambassador had a meeting with Prof. M.M. Eskindarov, Rector of the Finance Academy, which was also attended by M.A. Fedotova, Pro-Rector for Research, and V.V. Doumny, Pro-Rector for International Cooperation. Both parties expressed their satisfaction with the progress of cooperation in ducation and research between the Finance Academy and its partner institutions in Switzerland and spoke for the further extension of this cooperation in a number of areas.

Firstly, promotion of the programmes of academic mobility: student exchanges between the Finance Academy and Swiss universities with students being enrolled on the courses run by the partner institutions, exchange of groups of students on study tours, participation of Russian students in annual student forums, etc., held in Switzerland.

Secondly, drafting of proposals by the Finance Academy to promote interaction in the area of research, in particular, initiate a research project to be implemented jointly with a Swiss partner within the framework of intergovernmental science and technology cooperation, exchange of researchers to implement the project as well as exchange of publications.

Thirdly, Prof. M.A. Eskindarov, Rector of the Finance Academy, welcomed his guest's intention to facilitate visits of prominent Swiss scholars and practitioners, first of all, finance and banking experts, to the Finance Academy for the purpose of lecturing before the FA faculty members and students.

The parties expressed satisfaction with the outcome of the negotiations and agreed to continue the constructive dialogue.

From 7 to 9 May 2009, the Finance Academy hosted a delegation from the University of Central Florida, Faculty of International Business (USA). The delegation, which consisted of eight members and was headed Dr. Doan Modianos, Associate Vice-President for Strategic Planning, visited the Academy as part of the activities provided for by the Agreement of Cooperation between the two institutions.

On 8 May the American delegation had a meeting with the representatives of the Finance Academy, including Prof. V.N. Sumarokov, Pro-Rector and Dean of the International Economic Faculty; O.V. Kuznetsov, Pro-Rector for Business Education; Prof. E.I. Shokhin, Head of the Department of Financial Management; Ms T.N. Sedash, Associate Professor at the same department; Prof. A.I. Ilyinsky, Dean of the International Finance Faculty; Mrs S.V. Bezhanova, Dean, International Students Faculty, and others.

The meeting was opened by Prof. V.N. Sumarokov, Dean of the International Economic Faculty, who, on behalf of M.A. Eskindarov, Rector of the Finance Academy, welcomed the American delegation in Moscow and congratulated all the present at the meeting on Victory in the Second World War commemorated on 9 May. Pro-Rector O.V. Kuznetsov made a presentation on the Finance Academy for the American guests.

Dr. D. Modianos, in his turn, made a presentation of the University of Central Florida.

During the meeting, the two parties discussed the issues of cooperation in business education, student and faculty exchanges, joint research activities, and showed special interest in a possibility of running joint distance learning and double-degree programmes. The parties also discussed organization of the academic process in educational establishments in Russia and in the USA.

On 8 and 9 May the American delegation, accompanied by the third-year students of the Faculty of Finance and Credit and second-year students of the Faculty of International Economic Relations, had a chance to visit the sights of Moscow and to watch the preparations and celebration of the Victory Day. According to the American students, they were greatly impressed by Moscow and by the Finance Academy and will retain unforgettable memories of the visit.

The Russian-Spanish Conference Financial Markets of Russia, Spain and Latin America under the Conditions of World Financial and Economic Crisis took place at the Finance Academy on 14-15 May 2009.

The Conference was held in the framework of an agreement between the Finance Academy and Santander Bank - the largest Spanish and one of the largest European banks - as part of the project on scientific research of international financial system planned for 3 years. As its first stage the Finance Academy professors participated in the conference National Banks and Insurance Systems of Developing Markets under Globalization held at the Alcala University in May 2008. Moscow Conference in 2009 was the second stage of the project.

Participating in the Conference were faculty members of three Spanish universities - Alcala University, King Juan Carlos University, Compultence University of Madrid and the Finance Academy, as well as Mr Luis Barranco, trade attach? of Spanish embassy in Moscow, and Mr Tverdokhleb, Santander's representative in Moscow and manager of the Santander Universities project. The Conference attracted much interest of the faculty, post graduate and undergraduate students of the Finance academy.

Addressing the conference Mr Eskindarov, the Finance Academy's rector, emphasized scientific and practical significance of the project sponsored by Santander and implemented by the finance academy and Spanish universities and supported further facilitation of cooperation between the universities.

Professor Rubtsov, a research supervisor, dwelled upon the Conference goals and highlighted that it will allow not only to find answers to the questions about the crisis causes, methods of its overcoming and creating new more effective and crisis proof architecture of financial markets but will as well promote "construction of bridges" between the researches from two countries and enrich Russians and Spaniards with the knowledge on the structure of financial systems of respective countries.

Topics of the presentations can be divided into two blocks. The fist block dealt with the general problems of financial sector development under the crisis and state of the banks. The second block referred to insurance business. The reports listed below are in succession they were presented at the conference.

Professor Lavrushin, head of the Monetary and Credit Relations and Banks Department focused on the problems of the Russian banking system development under the modern financial and economic crisis.

Professor Ignatio Alvares Peralta (Compultence University of Madrid) made a presentation on the specifics of the modern financial and economic crisis in the world and in Spain in comparison with other countries. Excessive "financialization" of economy is, in his view, the main reason of the crisis.

Professor Mirkin, director of the Financial Markets and Applied Economics Institute gave an analysis of financial crisis in Russia outlining its specifics in comparison with other countries, especially Latin American countries, and envisaged ways of overcoming the crisis.

Professor Dumnaya, head of Microeconomics Department, presented the results of the Department's research related to analysis of successes and failures of rapidly developing Russian companies (gazelles).

Professor Jose Maria Sanches Lopes (King Juan Carlos University) made a report in which he focused on the world financial crisis' influence on the Spanish economy.

Professor Yarygina, head of the International Monetary and Credit Relations Department tacked the problems of the state and private partnership in the Russian Federation.

Professor Abramova, Monetary and Credit Relations and Banks Department, described the problem of the financial crisis influence on the national monetary system.

Professor Vicente Gonzales Catala (Alcala University) tackled the problems of converging banking, insurance and other financial institutions.

Professor Rubtsov , head of the Securities and Financial Engineering Department presented the results of the comparative quantitative and qualitative analysis of the Russian and Spanish financial markets with the charts and pictures illustrating peculiarities of the two countries' financial markets structures.

N. Stanik, professor, Securities and Financial Engineering Department, made a report on the Financial Crisis - Inevitability as a Result of the System Failure, in which she gave reasons for the modern financial crisis and outlined the emerging world financial structure.

Professor Alejandro Larriva (Alcala University) described the specifics of auditor's profession in Spain - education, certification, code of conduct and professional associations.

Professor Ryakhovskaya, head of the Economics and crisis Management Department presented a report Bankruptcy of Credit and financial Institutions under the Conditions of the World Financial and Economic Crisis which described the specifics of Russian bankruptcy legislature and state of the affairs in this sphere in Russia in 2008-2009.

Doctor Sara Otal (Alcala University) presented an interesting report on the peculiarities and structure of the Spanish banking sector and challenges it faces under the financial crisis.

Professor Goncharenko, head of the Tax and Taxation Department, informed Spanish colleagues on special features of bank taxation in the Russian Federation.

Second block of problems talked at the conference related to insurance markets development in Russia and Spain.

Professor Miguel Anxel Martinez (Alcala University) briefed Russian participants of the conference on the specifics and structure of insurance industry in Spain and gave the analysis of its compatitiveness.

Professor Orlanyuk-Malitskaya, head of Insurance Department, presented a similar report on the Russian insurance market.

Associate professor Nasyrova, Insurance Department, in elaboration of prof. Orlanyuk-Malitskaya's report gave an analysis of the insurance regulatory system in Russia.

All the repots were followed by heated debates on the relevant topics.

Prof. Rubtsov, research supervisor, and prof. Dumny, the Finance Academy pro-rector, summarized the results of the Conference. The conference's participants spoke for facilitation of research activities of the international financial system. Based on the exchange of opinions in course of mutual consultations the participants agreed to streamline the agenda of the 2010 scientific and practical conference due to take place in Madrid.

On 14 and 15 May 2009, the Finance Academy will be hosting a Russian-Spanish Research and Practice Conference on Financial Markets in Russia, Spain, and Latin America in the Conditions of the World Financial and Economic Crisis which has been prepared in conformity with the agreement of cooperation between the Finance Academy and Santander Bank. The conference marks the second stage of joint work on a three-year (2007-2010) international financial system research project. Papers will be contributed by the scholars of the Finance Academy, Alcala University, Rey Juan Carlos University, and Complutense University (Madrid). The conference will be held in the Conference Hall 213 at 55, Leningradsky Prospect:

14 May from 10:00 to 17:00 (9:30 - 10:00 - registration)
15 May from 10:00 to 15:00

All the interested are welcome to attend!

A group of students from Cologne University (Germany) arrived at the Finance Academy in 11 Many 2009. They will be staying at the Academy till 20 May. The programme of their visit to the Finance Academy includes courses of lectures by our leading professors, visits to industrial enterprises and commercial companies, and numerous sightseeing tours and visits to Moscow's museums.

A delegation of the University of Central Florida (USA) headed by Dr. Doan Modianos, Associate Vice-President for Strategic Planning, arrived at the Finance Academy on 7 May 2009. The delegation will stay at the Academy till 9 May. The delegation members will have a meeting with the representatives of the chief administration of the Finance Academy, and go on sightseeing tours around Moscow on the holiday days dedicated to the celebration of the Victory Day.

Mr. Vladimir K a r a s e k a leading professor from Banking Institute, Prague, the Czech Republic, was at the Finance Academy as a visiting professor from 6 to 11 April 2009. He gave lectures for the students of the Institute of Accelerated Programmes, Institute of Business Administration and Business, Faculty of International Economic Relations.

The lectures were devoted to such topical issues as:

• international monetary and financial relations in the conditions of the ongoing world financial and economic crisis;
• transformation of national banking systems in the EU countries, the Czech Republic, first of all;
• government support to business;
• regional economic cooperation.

  Besides, Prof. K a r a s e k delivered a lecture for the faculty members of the Department of International Monetary and Financial Relations and took part in a scientific discussion on the Issues of the Development of International Monetary and Financial Relations in the Conditions of the Ongoing Financial Crisis at that Department. The scholars also discussed possibilities for scientific cooperation between the Finance Academy and Banking Institute on an inter-departmental level.

  On 10 April, Mr. Karasek was received by Prof. M.A. Eskindarov, Rector of the Finance Academy. During the meeting, the parties expressed mutual interest in the expansion of cooperation. Mr. Kar?sek handed over to Prof. M.A. Eskindarov a letter of invitation from Prof. Frantisek Jirasek, Rector of Banking Institute, to attend an international conference "Ten Years of Private Higher Education in the Czech Republic" due to be held in Prague.

  
  
  

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  From 14 to 18 April 2009, Dr LEONID TIMOCHOUK, Head of Exchange Risks at Calyon Bank, London, UK, was at the Finance Academy as a visiting professor. Mr. TIMOCHOUK is a well-known expert in exchange risks and financial derivatives. He gave a set of lectures on Global Exchange and Stock Markets: Risk Management Issues for post-graduate students (master's degree programme) at the International Finance Faculty. Besides, an overview lecture on Financial Risks and Derivatives was delivered for students at the Institute of Business Administration and Business.

  At a meeting with the faculty members of the Department of International Monetary and Financial Relations Mr. TIMOCHOUK spoke about exchange and stock markets in the conditions of the world financial crisis. Having exchanged opinions on the current problems of the development of modern banking systems, both the lecturer and his audience expressed mutual interest in carrying out joint research.

  On 17 April, Mr. TIMOCHOUK was received by Prof. M.A. Eskindarov, Rector of the Finance Academy. Dr TIMOCHOUK highly appreciated the level of professional education and language skills of the Finance Academy students. It has been agreed that Dr TIMOCHOUK will continue cooperation with the Finance Academy in the capacity of a visiting professor.
  
  

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  Mr Rolf Peter Frener (Switzerland), Vice president of RBS Coutts Ltd, is presently lecturing at the Finance Academy as a visiting professor.
  Mr Frener gives lectures at the Faculty of International Economic Relations, International Finance Faculty and International Business School.
  On 24, April 2009 at 10:00 Mr Frener will deliver a scientific report World Financial Architecture in Post-Crisis Period: Swiss Banker's Viewpoint. The presentation is due to take place at the Finance Academy Academic Council's meeting (55, Leningradsky prospect, room 213).

  Rolf P. Frehner

  Originally educated in Mathematics at the Swiss Federal Institute of Technology he joined Credit Suisse in 1985. There he first worked for the Controlling and Accounting Department, where he developed a new model for the management information system (MIS) on a detailed base and introduced this concept within the company. Later he was responsible for the integration of Swiss Volksbank, a bank, which was in trouble and bought by Credit Suisse in 1993. After this successful merger Mr Frehner took over responsibility for the Treasury and Finance Division, rank of Managing Director, responsible for achieving sustainable trading contribution to the bank's ROE target. In this time he was also managing the balance sheet of Credit Suisse in which he introduced new ALM methods and risk managing tools and concepts. His latest job within Credit Suisse Group was at Winterthur Insurance, a Credit Suisse company, where he was responsible for managing all assets of Winterthur Group abroad as Head Asset Management International. He was member of the Board of several Winterthur subsidiaries abroad as well as Chairman of the Board of WIMCO (Winterthur Investment Company, New York).

  In 2005, Rolf moved to Liechtensteinische Landesbank, located in Vaduz, where he took responsibility for the newly created department "Private Banking CEE". In this time Mr Frehner founded and acted as first president of the "Swiss Russian Forum", a foundation to enhance the relationships between Russia and Switzerland in different sectors.

  Since 2008, Mr Frehner is responsible for the Eastern- and Central-Europe Department in RBS Coutts Ltd., a bank owned by Royal Bank of Scotland (RBS), but regulated and managed totally under Swiss law. There he is ranked as an Executive Vice President.

  Zurich, March 2009

  
  
  

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  On 13 April 2009, Prof. Grzegorz Kolodko, a renowned Polish economist and politician, professor at the Leon Kozminski Warsaw Academy of Entrepreneurship and Management in Warsaw (WSPiZ) and Director of TIGER - Transformation, Integration and Globalization Economic Research Centre, made a presentation of his book World on the Move at the Finance Academy.

  The meeting with Prof. Kolodko was opened by Prof. M.A. Eskindarov, Rector of the Finance Academy.

  Speaking before a large audience of the faculty members and students of the Finance Academy, Prof. Kolodko outlined the concept of his book and went on to set forth his views on current developments in the economic and social life of different countries as seen through the perspective of globalization, pointing out its complex and contradictory nature. The lecturer also gave a critical overview of the history of market reforms in the countries of Central and Eastern Europe and negatively assessed the theory and practice of neo-liberalism. The presentation of the book revealed its author's ambition - to cover the entire world in its complexity and diversity by reaching beyond just one country, one epoch, one scientific discipline, one paradigm.

  Prof. Kolodko set forth his views on the causes of the current global financial and economic crisis, ways to overcome it, and on the immediate and longer-term prospects of the world development.

  Russia was given special attention to in Prof. Kolodko's lecture. He particularly pointed out its growing role in the world economy.

  After his lecture Prof. Kolodko answered the numerous questions asked by the attendees.

  In conclusion Prof. Eskindarov thanked the Polish guest for his most interesting, impressive and informative speech, wished him every success in creating new works, which will enrich modern science, and expressed his hope that Prof. Kolodko will find time for lectures and presentations at the Finance Academy in the future.

  
  
  

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  The delegation of the Tsenov Economic Academy (Svishtov, Bulgaria) lead by its Rector associate professor d-r Velichko Adamov visited the Finance Academy from 30 March to 3 April.

  Bulgarian colleagues took part in the annual march scientific and practical conference "Raising the Competitiveness of Professional Financial and Economic Education in Russia". At the plenary meeting Rector of the Tsenov Economic Academy made an interesting and relevant report "Ensuring scientific research and transfer of knowledge at master's level in the sphere of financial and economic education". The report integrated the experience of the On-line education and research center of Republic of Bulgaria.

  Negotiations between the rectors of two academies were held. It was stated that traditional nearly half of the century partnership relations are developing successfully both at the university and department levels incorporating collaboration in different spheres of education and research. Special emphasis was put on the concrete ways of promoting and enhancing cooperation between the two universities in particular the exchange of students and professors groups taking part in educational trips.

  The state and prospects of joint scientific research with participation of two creative groups of the two universities' scientists was also discussed. Very important for the development of cooperation in research was an agreement that doctor V. Adamov will join the international editorial board of the theoretical and scientific and practical journal Vestnik of the Finance Academy and the Tsenov Economic Academy will become an associate member of the journal's editorial board, and respectively that professor M. Eskindarov will join the editorial board of the theoretical and scientific and practical journal Naronokhozyastvenny Arkhiv published by the Tsenov Economic Academy and the Finance Academy will become an associate member of the Tsenov Economic Academy's editorial board.

  The most important result of the Tsenov Economic Academy' delegation visit to Moscow was signing the Contract on Cooperation between the two academies which opens new prospects for further advancing bilateral relations in educational and research spheres.
  
  

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  Professor Grzegorz W. Kolodko's lecture "Modern Economic Crisis and its Long-term Consequences for Countries and the World" and presentation of his new book "Moving World" will take place on 13, April 2009 at the Finance Academy under the Government of the Russian Federation at the address: 55 Leningradsky avenue, room 213 - the Academic Council Meeting Hall

  Professor Grzegorz W. Kolodko is an economist, expert in market transformation of post socialist countries and globalization, architect of Polish economic reforms, twice (1994 - 1997 and 2002 - 2003) Finance Minister and Deputy Prime Minister of Poland, professor at the Warsaw Academy of Business and Management named after Leon Kozminsky, head of the Transformation, Integration and Globalization Economic Research Center, TIGER).

  During Mr Kolodko's time in office Poland achieved impressive results. He played key role in finding successful solutions for the transitional period challenges, per capita GDP growth was more than 30%. G. Kolodko actively contributed to Poland's integration into the EU and its joining the OECD.

  He worked for international organizations (UN, World Bank, IMF) and at academic institutions of many countries of the world.

  Professor Kolodko lectured at a number of major universities including universities of Yale and California. He published 38 books and about 300 articles. His works are translated into 24 foreign languages, most of them into English.

  Professor Kolodko's new book "Moving World" (literal translation from Polish is "nomadic" or "wandering" world) was published in Poland in spring of 2008 and became a bestseller. It sold 50000 copies last year. With this regard Polish weekly Politika (January 2009) called professor Kolodko "man of the year" with a title of "wandering prophet".

  The book is dedicated to the problems of world social and economic development, its principles and trends and is meant for wide public. The author in a fascinating style tells about the reasons and ways of development and offers his view of the near and distant future.

  To understand the ongoing world processes which determine the future of the humanity one needs a wide view expanding beyond the limits of one country, one epoch, one scientific discipline, one paradigm. The author offers new indicators of development and formulates new approach to the theory of economic growth.

  The book is accompanied by an internet portal with factual and statistical information on relevant issues (www. wedrujacyswiat.pl).

  Russian edition was published in March 2009 ((М. : Маgistr, 2009. 576 с. ISBN 978-5-9776-102-3).

  References

  Grzegorz Kolodko played an important role in transformation of Polish economy. He knows the world well and made many original comments on the problems and trends of its development. Reading this book will be useful for anyone who is interested in economic development.
  Robert Mandell, Nobel Prize winner for economics

  Grzegorz W. Kolodko is one of the most penetrating observers of the world economy with many years of academic and practical experience. His works always become an important starting point for discussions on globalization.
  Francis Fukuyama, author of "The End of History".

  This book is a masterpiece created by a thinker who at the same time is a practitioner in economic transformation and politics of the real world.
  Justin Ifu Lin, World Bank Deputy President

  "God is everywhere, Kolodko was everywhere" - this is what they say in Warsaw about the twice Deputy Prime Minister and Finance Minister, scholar and traveler. Numberless pins marking most distant and exotic places of the world on the map in his office are good evidence to this. Professor Gjegosh Kolodko takes us to exiting journey around territories, ages and disciplines including yet unknown. Not everyone will undoubtedly agree with him, but he will definitely become interested, inspired and light with a thought.
  Professor D. Mario Nuti, La Sapienca Rome University
  
  

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  On 2-4 March 2009, Prof. M.A. Eskindarov, Rector of the Finance Academy, received representatives of foreign partner institutions who arrived in Moscow to take part in the celebration of the 90th anniversary of the Finance Academy, including:

  • Prof. V.A. Khmelnitsky, First Pro-Rector of Belorussian State Economic University,

  • delegation of D.A. Tsenov Academy of Economics, Svishtov, Bulgaria, led by Prof. A. Sarkisyan, Pro-Rector,

  • Mr. B. Henwood, Chairman of M.L.S. International College (Management and Language Specialists), Bournemouth, United Kingdom,

  • Prof. A. Abishev, Rector of T. Ryskoulov Kazakh Economic University, Republic of Kazakhstan,

  • delegation of Liaoning University, Shenyang, China, led by Prof. Cheng Wei, Rector,

  • Prof. A. Budnikowski, Rector of Warsaw School of Economics, Poland,

  • Prof. A. Juszczyk, Director of E. Lipinski Higher School of Economics and Law, Poland,

  • delegation of Cologne University, Germany, led by Prof. W. Delfmann, Deputy Dean of the Faculty of Management and Economics,

  • delegation of Bloomsburg University of Pennsylvania, USA, led by Prof. D. Soltz, President,

  • Ms F. Rahimova, Deputy Minister of Education, Republic of Tadzhikistan,

  • Prof. A. Vahabov, Rector of the Academy of Banking and Finance, Republic of Uzbekistan,

  • Prof. A. Bekmuradov, Pro-Rector of Tashkent State Economic University, Republic of Uzbekistan,

  • delegation of Donetsk National University, Ukraine, led by Prf. V. Shevchenko, Rector,

  • delegation of the University of Banking of the National Bank of the Ukraine, led by Prof. T. Smovzhenko, Rector,

  • Dr. F. Jirasek, Rector of the Institute of Banking, Prague, Czech Republic.

  Meetings were also held with Prof. A. Darbinyan, Rector of Russian-Armenian (Slavonic) University; Prof. D. Dickinson, Director of the Business School of Birmingham University, United Kingdom; Prof. Timothy Nichol, Associate Dean of Newcastle Business School, Northumbria University, United Kingdom; delegation of the University of Bari, Italy, led by Prof. Giuseppe Patruno, Dean of the Economic Faculty.

  Long-term agreements of cooperation were signed as a result of negotiations with Prof. P. Sobich, representative of the Higher School of Bremen/University, Germany; Prof. V. Zapatero, Rector of University of Alcala, Spain; Prof. P. Gonzales-Trevijano Sanches, Rector of Rey Juan Carlos University, Madrid, Spain; Prof. D. Laforgia, Rector of the University of Salento, Lecce, Italy; Prof. A. Korolchuk, First Pro-Rector of Kyiv National University of trade and Economics, Ukraine. The meetings and negotiations that were held defined the main ways and forms of the development of cooperation between the Finance Academy and its partners in the educational and research areas.

  
  
  

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  On 26 October - 2 November 2008, the Finance Academy hosted a group of twenty one students and four teachers from the University of Salento (Lecco, Italy). The Finance Academy has been developing relations of cooperation based on an inter-university agreement with that university for more than 10 years. One of the important components of this cooperation is regular student and faculty exchange between the two institutions, aiming to facilitate better mutual understanding.More...
  
  

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  Pro-rector, Doctor of Sciences, Economics, Professor Boris Smitienko "Integration of Science and Education in Innovative University" More...
  
  

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  On 22 September, two professors from Complutense University (Madrid, Spain), Prof. Jose Antonio Nieto and Dr. Jesus Garcia de Madariaga, arrived at the Finance Academy. Their visit was arranged as part of the Agreement on Cooperation between the Finance Academy and Santander Bank (Spain). More...
  
  

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  Mr. Rolf P. Frehner, Senior Vice-President of RBS Coutts Bank Ltd (Switzerland) paid a visit to the Finance Academy on 24 September 2008.More...
  
  

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  On 12 September 2008 the Finance Academy was paid a visit by Mr. Martin Hagen, Vice-President of the Institute of Certified Accountants of England and Wales (ICAEW). Mr. Hagen was accompanied by Mr. Geoffrey Townsend, director of TMK Steel Ltd, practicing auditor and professor of the Finance Academy, and Ms Natalia Klimova, Head of the ICAEW Representative Office.More...
  
  

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  On 8 September 2008,a delegation from the University of Western Ontario (Canada) headed by Prof. Chuck Ruud, coordinating cooperation between our institutions, paid a short visit to the Finance Academy. More...
  
  

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  Students from Cologne University (Germany) on a study tour in Moscow More...
  
  

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  On 20 May 2008 the Finance Academy under the Government of the Russian Federation and Bankovni institut (Vysoka skola), Czech Republic, signed an Agreement on Cooperation aiming at the development of joint educational programmes and research activities. More...
  
  

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  On 25 April 2008, the Academic Council of the Finance Academy considered a resolution to confer the title of Doctor Honoris Causa of the Finance Academy under the Government of the Russian Federation on the prominent American scholar, world-famous expert in management, Ichak Kalderon Adizes. More...
  
  

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  On 11 December 2007 dr. Lawrence Schafer, professor of the Department of Law at the School of Social Sciences and Law, Oxford Brookes University (United Kingdom) visited the Finance Academy. More...
  
  

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  On 28 September 2007, a Framework Agreement on Intentions and Cooperation was signed with Banco Santander (Spain) More...
  
  
  
  

  Mikhail A. ESKINDAROV
  Rector of the Finance Academy under the Government of the Russian Federation
  D.Sc. (Economics), Professor

  
  
  THE FINANCE ACADEMY TODAY

  The Finance Academy under the Government of the Russian Federation is a leading educational, research and methodology centre offering educational programmes in the specialty areas of Finance and Credit; Taxes and Taxation; Accounting, Analysis and Audit; World Economy, Mathematical Methods in Economics; Crisis Management; State and Municipal Administration; Jurisprudence. It is a major research-and-education complex comprising a broad network of regional branches and representative offices throughout the country - from Ulianovsk to Blagoveschensk, a university with 21000 students annually studying on an extensive range of programmes and tens of thousands of specialists attending skill development courses every year.

  The multi-level system of higher education established at the Academy includes:

  • a pre-university specialized programme to prepare schoolchildren for entrance to the Academy
  • university programmes (bachelor's degree - certified specialist's degree - master's degree)
  • post-graduate and doctorate studies
  • second professional higher education in finance and economics
  • short-term professional retraining and skill development
  • MBA programmes

  Being a leading institution of higher education, the Academy heads the All-Russian Education-and-Methodology Association (EMA) of more than 700 Russian higher education institutions offering educational programmes in the specialty areas of economics and finance. The Academy is a major centre of theoretical and applied research focusing on the current problems of finance, money circulation and credit, insurance, accounting and audit, business evaluation, international monetary relations, and analytical materials are prepared for the legislative and executive authorities of the Russian Federation by the experts of the Academy.

  The Academy actively cooperates in educational and research programmes with foreign universities and financial institutions in over 50 countries of the world, including development and implementation of joint educational programmes, student and faculty exchanges, joint research projects, etc. Programmes leading to "dual degrees" are implemented in collaboration with a number of leading universities in Germany, the USA, and France.

  Our graduates constitute the elite of the country's financial and economic system, holding positions of responsibility in the bodies of state power and administration, in politics and business. Among them are: A.F. Borodin - President of the Bank of Moscow; V.A. Dmitriev - Chairman of the Board of the Bank for Foreign Economic Affairs (Vnesheconombank); A.I. Kazmin - President-Chairman of the Board of the Savings Bank of Russia (Sberbank); L.K. Kudelina - Chief of Economic and Financial Service of the RF Ministry of Defence; D.L. Orlov - President of AKB Vozrozhdenie Bank; E.V. Panina - Vice-President of the Russian Union of Industrialists and Entrepreneurs, deputy of the State Duma; A.G. Siluyanov - Deputy Minister of Finance of the RF; A.G. Khloponin - Governor of Krasnoyarsk Region.