About the Department

The Department functioning under the name of “Political Economy” has been called “Economic Theory” since 1993 at the University of Economics. This change was due to the collapse of the socialist system. At the same time, many economists say that the term “political economy” is actually associated with socialism, and in fact, it refers to the term “political economy” in many foreign countries.

In 1975-1982 the department was run by Professor Gara Sadigov, in 1987-1990, the department of “United Political Economy” was headed by Arastun Akhundov. In 1990, the chair was re-divided into two departments: the department of Political Economy (later called “Economic Theory-2″) on the Faculties of Accounting and Finance and was run by Dr. of Econ., Prof. Mammadhasan Meybullayev. Since 2014 the head of the department is Umudvar Aliyev. From October, 2015 the chair is called “Theoretical and practical economy”.

The Department developed and published programs on Economic Theory, Economic Theories and Schools, Economic Problems of Modern World, Actual Problems of Economic Theory, Macroeconomics, Economic Idea and Economic Policy, National Problems of Market Transition, Economic Development Models, Modern Problems of Economic Science, History and methodology of economics science and Islamic economy.

Employees of the department have published many monographs, textbooks and manuals and scientific articles. Prof. U.G.Aliyev’s “National Economic Problems of the Transition Period” (2008), “Actual Problems of Economics” (2013), prof. F.F. Mustafayev’s “Microeconomics” (2014), prof. Q.Manafov’s “Theoretical and Practical Foundations of Entrepreneurial Activity”, prof. T.Babayev’s “The Organization and Economic Foundations of Private Bodies in the Agrarian Division” and others.

Particular attention is paid to translation of the latest scientific works and textbooks of Azerbaijani scientists abroad. Paul Samuelson and V.Nordhauz’s “Economics” textbook has been translated and published. In recent years, translation of textbooks from other foreign languages has been successfully continued.

Along with the educational process at the department, serious work is underway in the field of scientific research. Many doctoral and candidate dissertations have been discussed and suggested to be defended. Two Turkish citizens completed their candidacy. Scientific research works are being carried out around the topics “Regularities and problems of transition to a new economic system”, “Macroeconomic aspects of national economy formation” and “National characteristics of the economic development strategy”, and scientific findings are reflected in numerous works.

Main Subjects: 

Introduction to Economy
Microeconomics
Macroeconomics
Azerbaijan Economy
History of economic thought
Economy

The department of “Theoretical and practical economy” has not only carried out effective educational process, but also carried out scientific research work. The 2016 scientific-research work is characterized by more modernity. The concept of development of the national economy and problems of its formation in the transition to the market has been studied. The goals and objectives of national economic development, the micro and macro problems of national economic development, the characteristic features of national economic development in the transition to the market, the source and factors of the formation of the national market, and the process of deciding the national economic development model are investigated here. In addition, the problem of “theoretical-methodological bases for ensuring sustainable economic development” was studied. The concept of economic development, the prerequisites and sources of sustainable economic development, the economic development and economic growth strategy, the place of the reform process in the development of the national economy and the socio-economic results of sustainable economic development were analyzed. In the near future the department will start investigating new economic problems. Planned scientific-research works for 2017-2019 reflect the study of more modern economic problems reflecting the economic reality of Azerbaijan. Thus, starting from 2017, the study of the problems of “scientific theoretical foundations of the study of the key sectors of the national economy and economics” has been set as a goal.

 

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Implementation of scientific researches in the chair resulted in the emergence and improvement of the quality of the new human resources, as well as was used in the teaching of the topics on Economic Entry, Microeconomics, Macroeconomics and introduced to various economic bodies and organizations in the form of recommendations and offers. As a result, a scientific school in the direction of macroeconomics on the specialty “Economic theory” has been formed at the Department of “Theoretical and practical economy”. Some of the employees of the department work in both university and outside the university.

Prof. G.N.Manafov serves as a Director of the Master Center, Prof. R.Ibrahimov Chairman of the Permanent Committee on Agrarian Policy of Milli Majlis, prof. F.Mustafayev Head of the Department at the Ministry of Education, Assoc. H.M.Valiyev and dos. R.Akbarov works as a Deputy Directors of the distant, correspondent and further training center.

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The  Academic Staff:

  • Dr of Econ., Prof. Umudvar Ganbar Aliyev (Head of the department) (0.5)
  • Dr of Econ. Prof. Shamil Saleh Gafarov
  • Dr of Econ. Prof. Rasim Amir Nabiyev
  • Dr of Econ. Prof. Telman Gurban Babayev
  • Dr of Econ., Prof. Gabil Nadir Manafov  (0.5) [Director of Master Center]
  • Cand. of Econ., Assoc. Prof. Professor Allazov Kazanfar Seyfaddin
  • Cand. of Econ., Assist. Prof. Alina Majid Aliyeva
  • Cand. of Econ., Assist. Prof. Akif Beyler Mammadov
  • Cand. of Econ., Assist. Prof. Farida Shamil Amirova
  • Cand. of Econ., Assist. Prof. Namig Anvar Sadigov
  • Cand. of Econ., Assist. Prof. Habib Mammad Valiyev [D/Director of the DPFEC](0.5) 
  • Cand. of Econ., Assist. Prof. Shahla Mahammad Rzayeva
  • Cand. of Econ., Assist. Prof. Leyla Zakir Aliyeva
  • Cand. of Econ., Assist. Prof.  Sadig Binyamin Nazaraliyev
  • Cand. of Econ., Assist. Prof. Eyvazova Naile Kamal
  • PhD in Econ., Assist.Prof. Gunay Mahish Panahova
  • PhD in Econ., S/t. Tamella Jalal Abbasova
  • Leector Rzayeva Khuraman Ismayil (0.5)

Consultants:

  • Dr. of Econ., Prof. Ibrahimov Eldar Rza [Chairman of the Agrarian Com. Of the Parliament](0.5)