“Golden Fortune” XXI century quality plan by International Rating Academy of Technologies (Ukraine, Kiev)
UNEC today
Azerbaijan State University of Economics, which was founded in 1930,
is one of the largest higher education institutions in the Southern Caucasus.
There are 10 faculties operating at UNEC with more than 18.000 students studying on 22 specialities.
More than one thousand teachers, as well as 77 professors and 326 assistant professors among whom figure actual members of the National Academy of Sciences, New-York academy of Sciences, laureates of State Awards, honoured teachers and scientists work at the University.
More than 850 students from 12 countries of the world study bachelor and master degrees at UNEC.
Awards won
“Ugur” National Award for contribution to the development of science and training of national specialists
“European Quality” award established by the European Business Assembly, European University, The Club of Rectors of Europe and Oxford University, based on survey conducted among well-known universities of Europe
«University of year» National Award
«INTELLEcT-2007» project of the year award (Information-library centre project at ASEU)
«Service to the Turkish world and Turkish culture» Award
Golden Medal of the International Academy of Professionals (Ukraine)
«Child of motherland» and «Dada Gorgud» medals (by the Supreme Council of the Dada Gorgud Foundation) for contribution to economic and social development of Azerbaijan
«Millennium award» diploma, cup and order of the «Leader of the XXI century» International Image Program for development and effective application of advanced and modern education technologies in professional activities, prompt and flexible introduction of innovations in education
It was awarded the “Best Performance” Certificate for the best presentation at the 9th Azerbaijan International Education and Career Exhibition. It is the only University awarded the Best Performance Certificate at the exhibition, where more than 130 higher education institutions from 16 countries participated.
UNEC’s Business School has been recognized as full member of the Business School Accreditation of the European Foundation for Management Development (EFMD) for the first time in our Republic.
It performs cadre’s development with the Institute of Technological Education of Western Macedonia of Greece that is the European member country for the first time in the history of Azerbaijan.
The Electronic University Platform, which carries out administration of teaching on the basis of interactive and up-to-date technologies, was first realized at UNEC.
UNEC maintained it leadership among the universities in Azerbaijan in accordance with the list revealed by most prestigious ratings of the higher education institutions of the world “The Ranking Web” and “Webometrics”. UNEC is the only university among the higher education institutions in Azerbaijan to possess these indicators.
According to the final results of the uniRank ranking, which evaluates the web popularity of universities worldwide, UNEC was ranked first in Azerbaijan. Based on the ranking evaluation, UNEC was recognized as the best and most popular university in the country in terms of internet resources.
In January, the international ranking agency Webometrics announced its “Transparent Ranking: Top Universities by Google Scholar Citations,” in which UNEC was ranked the leader among Azerbaijani universities.
In the QS Ranking for 2021 in the “Emerging Europe and Central Asia” (EECA) region, Azerbaijan State University of Economics (UNEC) was ranked among the 221-230 best universities in the region, rising by 30 positions compared to the previous year. UNEC achieved its best result in the “Employer Reputation” indicator, ranking 96th among regional universities and first among Azerbaijani universities. On April 22, Times Higher Education (THE) announced its THE Impact Rankings 2020, which measure the performance of universities based on the United Nations’ 17 Sustainable Development Goals (SDGs). In this ranking, UNEC was ranked 619th globally (601+) and first in Azerbaijan. UNEC achieved its best result in the “Decent Work and Economic Growth” goal, ranking among the top 300 universities worldwide (201-300) in this category.
The U-Multirank ranking organization, funded by the European Union’s Erasmus+ program, published its subject rankings for universities worldwide. In this year’s rankings, nearly 1,800 universities from 92 countries were evaluated based on five criteria: teaching and learning, research, knowledge transfer, internationalization, and regional engagement. In the U-Multirank subject ranking for Economics, UNEC was ranked 259th among the 302 best universities globally. In the QS World University Rankings 2022, UNEC appeared for the first time and was ranked among the 1001-1200 best universities globally. Among the ranking’s five indicators, UNEC achieved its best result in “Academic Reputation,” placing among the top 501+ universities worldwide. In the QS EECA Regional Ranking 2022, UNEC was ranked 221-230th among 450 universities in the region. Among Azerbaijani universities, UNEC achieved the best result, ranking first. UNEC’s top performance was in the “Employer Reputation” indicator, where it ranked 96th among regional universities.
According to the SCImago Institutions Rankings (SIR) for 2023, UNEC was ranked first in Azerbaijan. Globally, among 8433 universities, UNEC was ranked 691st in Economics, Econometrics, and Finance and 1256th in Business, Management, and Accounting. In Eastern Europe, UNEC ranked 33rd in Economics, Econometrics, and Finance and 69th in Business, Management, and Accounting among 803 universities. In the QS World University Rankings 2024, UNEC strengthened its position among the 1001+ best universities globally and was ranked first in Azerbaijan.
According to the latest ranking of the Webometrics Ranking Agency, UNEC was named the best university in Azerbaijan, securing first place. UNEC ranked 2960th among 31,606 universities worldwide, advancing by 684 positions compared to July of the previous year and by 38 positions compared to January. UNEC has thus entered the top 10% of universities globally. In Europe, UNEC ranked 972nd among 5985 universities, and in Central and Eastern Europe, it secured 206th among 2692 universities. UNEC was awarded the “Outstanding Academic Performance” Award by the Independent Agency for Accreditation and Rating (IAAR). The IAAR-EUR rankings are determined based on information submitted by universities and expert reviews. The evaluation criteria include academic performance (70%) and the reputation of higher education institutions as assessed by international experts and employer feedback (30%). In the UI GreenMetric Rankings 2024, UNEC was ranked among the Top 3 universities in Azerbaijan and the Top 1000 globally. This ranking, which evaluates universities’ sustainability efforts, included 1477 higher education institutions from 95 countries.
History of UNEC
Training of professional economists with higher education was started from the 20s of the past century. Thus, one of the five faculties created at Polytechnological Institute by the Revolutionary Committee of Azerbaijan was the faculty of economy. Economy section was established within the faculty of public sciences at the Azerbaijan State University in 1922 and that section prepared professional economists till 1930.
November 16, 1920
Today’s Azerbaijan State Economic University was founded with the separation of then Azerbaijan State University in different institutes and establishment of the Azerbaijan Trade Cooperation Institute based on its Economy section according to the decision of the People’s Commissars Council of Azerbaijan SSR.
June 19, 1930
Azerbaijan Social Economic Institute was created on the basis of the Azerbaijan Trade Cooperation Institute covering small-scale institutes such as Socialist accounting, Building of Soviet and Law, Finance, Plan-economy operated under different ministries and agencies.
January, 1933
With the outbreak of the Great Patriotic War, a number of institutes, including the Azerbaijan People’s Economy Institute were merged with the Azerbaijan State University, and then operated as a separate institute between 1945-1959.
1941
Operation of the Azerbaijan People’s Economy Institute was suspended again with the relevant decision of USSR Soviet of Ministries with key economic-oriented specialities gathering at the Azerbaijan State University.
March 14, 1959
Operation of independent Azerbaijan People’s Economy Institute named after Dadash Bunyadzade was suspended again in 1987 and Baku branch of the Leningrad Financial-economic Institute named after N.Voznesenski was created on its basis.
December 29, 1966
Operation of the Azerbaijan State Economic University was restored with the decision of USSR Council of Ministers.
July 1990
A new Azerbaijan State Economic University was established on the basis of the Azerbaijan State Economic Institute and Baku Merchandising Institute according to the Decree #349 of the President of the Republic of Azerbaijan. Thus, our university which was founded in 1930 grew from a small faculty into one of the leading universities of Azerbaijan, becoming one of the largest higher education institutions in the Caucasus region, which is considered as the main centre preparing high quality specialists in important fields such as industry, agriculture, trade, finance, statistics, tax system, marketing and management in our country. Our objective is to turn the University into modern electronic university successfully integrated to the world education system in the future. The most memorable event the life of University of Economics was the arrival of the Great Leader Heydar Aliyev at the University. Participation of Heydar Aliyev, then President of the Republic of Azerbaijan in the celebration of the 70th anniversary of University of Economics was an unforgettable event in the memory of our multi-thousand staff. Care to and focus on science and education of Azerbaijan, courageous scientists and teachers was in the limelight of political activity of Heydar Aliyev.
June 13, 2000
The highest appreciation of drastic quality improvements recently carried out in the University was given Mr. Ilham Aliyev, President of the Republic of Azerbaijan at the event dedicated to the 75th anniversary. According to the Presidential Decree, 8 staff members of the University were awarded with the “Progress” medal and 14 persons were received the name of the “Honored teacher”. His excellency Mr. Ilham Aliyev, President of the Republic of Azerbaijan was also participation in the opening ceremony of the new building of University of Economics and delivered a strategic speech. Mr. President, Ilham Aliyev highly appreciated reforms implemented at University of Economics, conveyed his best wishes to staff members and wished success in their operation. The President said: «I think that Azerbaijani professionals should hold key positions. To this end, they should acquire higher skills, get deep knowledge about business management at the global level and show their qualities. The Azerbaijan State Economic University did a great job to this direction and will hopefully make contributions in the future as well... I wish that all higher schools of Azerbaijan to have the same level of quality».
October 8, 2007
The newly reconstructed Academic Building No. 3 of the Azerbaijan State University of Economics (UNEC), located in the Yasamal District of Baku, was officially inaugurated. The President of the Republic of Azerbaijan, His Excellency Ilham Aliyev, and the First Lady, Mehriban Aliyeva, attended the opening ceremony of the new academic facility on Murtuza Mukhtarov Street. During the visit, the President and First Lady were acquainted with the modern facilities and infrastructure of the building. The Minister of Education, Emin Amrullayev, and the Rector of UNEC, Professor Adalat Muradov, provided detailed information regarding the completed works. It was noted that the construction of the new academic building, adhering to contemporary standards, commenced in 2018. The structure was built while preserving the façade of the previous building, incorporating modern architectural features and meeting state-of-the-art campus standards. The new academic complex, comprising four interconnected buildings, has the capacity to accommodate 3,000 students specializing in technical and technological disciplines. The facility includes 30 classrooms, six lecture halls, six language laboratories, 14 advanced laboratories equipped with the latest technological innovations, a spacious gymnasium, a two-story library, and both large and small conference halls. The complex has been designed to provide a comprehensive and modern environment conducive to high-quality education and academic excellence.
September 3, 2020