In order to implement the decision of the Scientific Council of UNEC dated February 29, 2016, the Faculty of Economics was established on July 13, 2016, based on the International Economic Relations and Economics and Industry faculties.
Following the decision of the Scientific Council of UNEC on May 31, 2022, the name of the Faculty of Economics was changed to the Faculty of Economics and Management as of June 28, 2022.
The Faculty of International Economic Relations commenced its activities in 1992. The establishment and operation of such a faculty were primarily linked to the collapse of the Soviet Union, the dismantling of the totalitarian regime, and the formation of free market relations, marking the beginning of the transition to a market economy. The opening and recognition of Azerbaijan in the international arena necessitated the preparation of specialists in the field of international economic relations, which in turn required the establishment of a new faculty. Initially, it was named the Faculty of Commerce and International Economic Relations, with the first student admissions in 1991 being conducted within the Faculty of Commerce.
The faculty was led by various distinguished individuals: A.H. Samadov, Doctor of Economic Sciences, Professor (1992-1995), H.A. Israfilov, Candidate of Economic Sciences, Associate Professor (1995-2000), E.I. Bayramov, Professor (2000-2004), M.G. Mammadov, Candidate of Economic Sciences, Associate Professor (2004-2014), and M.I. Barkhudarov, Associate Professor (2014-2016).
Starting in 2005, the faculty began training specialists in International Relations, leading to the establishment of the “International Relations” department within the faculty.
In 2009, for the first time in the republic, the faculty commenced training specialists in World Economy. This direction included programs in International Economic Relations, Regional International Economic Relations (European Union, CIS, North America, Southeast Asian countries), International Trade, Customs Organization and Management, and International Currency and Credit Relations, providing high-quality bachelor’s degree training.
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The Faculty of Economics and Industry was established in the 1930s and operated under various names (Planned Economics, National Economy Planning, etc.). In 1980, it merged with the Faculty of “Economics of Industry” and was subsequently renamed “Regulation of the Economy” in 1990, in line with the demands of the transition period to a market economy.
In 2009, a new faculty named “General Economics” was formed as a result of the merger of two faculties—”Regulation of the Economy” and “Economics of Production and Services.” In 2014, it was renamed the Faculty of Economics and Industry. The faculty has been led by prominent scholars, including A. Mursalov, Associate Professor (1966), A. Gasimov, Professor (1970-1975), A. Dilbazov, Professor (1975-1980), F. Guliyev, Associate Professor (1980-1982), A. Akhundov, Professor (1982-1987), K. Gafarov, Associate Professor (1987-1993), R. Mammadov, Professor (1993-1998), K. Gafarov, Associate Professor (1998-2014), and A. Guliyev, Associate Professor (2014-2021).
Currently, the faculty is known as the Faculty of Economics and Management. The Faculty of Economics and its associated departments maintain close scientific collaboration with universities in foreign countries. The faculty’s academic staff regularly presents scientific papers at various scientific forums held both abroad and in the republic. According to mutual cooperation agreements, the faculty’s professors and students participate in exchange programs at universities abroad, engage in scientific conferences, publish scientific works, attend summer schools, continue their education, and conduct various meetings.