About Azerbaijan State University of Economics

About Azerbaijan State University of Economics (UNEC)

Preparation of highly educated economists in our country had begun since the 20s of the last century. The process was initiated on November 16 1920, when one of the five faculties of the Polytechnic Institute established by the Azerbaijan Revolution Committee was the faculty of economy. In 1922 the economic department in the Azerbaijan State University of Social Sciences was established and operated till 1930.
According to  the decision of Azerbaijan SSR Council of Committee of People’s Commissars dated to June 19, 1930 Azerbaijan State University was divided into the separate institutes and as a result on the basis of economic section in it Azerbaijan Trade – Cooperation Institute was established based on  economic department of Azerbaijan State University. This is how UNEC was founded.
In January 1933 Azerbaijan Socio-economical Institute was founded based on Azerbaijan Trade-Cooperation Institute which included also small institutes like Socialist Calculation, Soviet Building and Law, Finance, Planning–Economy, that were previously subordinate to different ministries and institutions.
In 1941 with the beginning of the Great Patriotic War some institutes and Azerbaijan Institute of National Economy as well joint to the Azerbaijan State University, but during  1945- 1959 it continued its activity independently.
On March 14, 1959 according to the USSR Council of Ministers’ conformed resolution the activity of the Azerbaijan Institute of National Economy had been again interrupted and leading personnel of the institute joint Azerbaijan State University.
On December 29, 1966 independent activity of Azerbaijan Institute of National Economy named after Dadash Bunyadzadeh was rehabilitated and again was closed in 1987, right after that Baku branch of Leningrad Financial-Economical Institute named after N. Voznesenski was established.
In June 1990, according to the resolution of the USSR Committee of Ministers Azerbaijan State Economic Institute  again began its activity.
At least, on June 13 2002,  according to the decree # 349 of President of Azerbaijan Republic on the basis of Azerbaijan State Economical Institute and Baku Science of Commodities Institute new higher school, i.e. Azerbaijan State University of Economics (UNEC) was founded. Thus, established in 1930,  our University turned from a small faculty to one of the leading institutions of Azerbaijan and  Caucasus’ biggest higher economic institutions and now it is considered as the main center for preparation of highly qualified specialists on such important fields as agriculture, trade, finance, statistics, tax system, marketing, management in our country. Our aim is focused to convert our university to the modern electronic university integrated into  the world education in future.
The most important event that is remembered in UNEC’ s life is a visit of Heydar Aliyev, our great national leader. Participation of former president of Azerbaijan Republic in ASUE’s 70th Anniversary Ceremony held on June 13, 2002, became eternal event memories of many thousands. Care and attention to selfless scientists and teachers, Azerbaijan science and education occupies a special place in Heydar Aliyev’s  statehood activity. Our honourable President Mr. Ilham Aliyev gave the highest appreciation to the fundamental quality changes which are going on in the University recently, on the occasion of the 75th Anniversary of the University.
According to the decree of the President our 8 collaborators were rewarded with Medal  for Prosperity, and 14 were named “Honorable Teachers”. The 8th of October was written through golden letters to UNEC’s history as the most significant and important day. President Ilham Aliyev took part at the opening ceremony of  UNEC’s new building and made speech.
President Ilham Aliyev had said: “ I think Azerbaijan cadres must be on the leading positions. For this reason their level of knowledge must be high, they must know the meaning of the world scale management and show their professionalism. UNEC has given great contributions and  efforts in this field…..I wish all higher schools in Azerbaijan were at such level.”

Prof. Dr. Adalat J. Muradov, UNEC, Azerbaijan, Editor-in-Chief

 Prof. Dr. Adalat J. Muradov  
Rector of Azerbaijan State University of Economics 


Prof. Rawi E. Abdelal, Harvard University, USA, Editor-in-Chief

Prof. Rawi E. Abdelal

Herbert F. Johnson Professor of International Management, Harvard Business School/Director of the Davis Center for Russian and Eurasian Studies, Harvard University.


Associate Professor, Dr. Nazim O. Hajiyev, UNEC, Azerbaijan, Managing Editor

Associate Professor, Dr. Nazim O. Hajiyev
Director of UNEC Business School, Associate professor of Department of Economics and Business management in UNEC Business School,
Visiting Scholar in Davis Center for Russian and Eurasian Studies, Harvard University