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In order to ensure the implementation of the Decision No. 183 of the Scientific Council of UNEC on May 31, 2022, from 02.09.2022, the departments of “International Economy”, “Theoretical and Practical Economy”, “Economic Regulation” and “Economic Theory” were cancelled and the “Economy” department was established on their basis.
An Intellect Competition held at UNEC: The Faculty of Finance and Accounting is the Winner (01.06.2017)
UNEC Professors: “Strategic Roadmap sets out the Precise Contours of the National Economic Development” (10.02.2017)
A Seminar held at UNEC: Development of Financial Services will provide the Sustainability of the Real Sector (19.01.2017)
Scientific Conference held at UNEC (18.05.2016)
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 has been Umudvar Aliyev. From October, 2015 the chair is called “Theoretical and practical economy”.
The name of the department of “Economic Theory-2” was renamed the department of “Theoretical and Practical Economics” by the order of the University dated 442/3/2015. The department is one of the most prestigious departments of the university. The department employs very influential economic scientists.
Professor Eldar Rza oglu Ibrahimov, one of the employees of the department, is the chairman of the disciplinary commission of the Parliament, prof. Gafarov Shamil Saleh oglu is the chairman of the EAC expert commission on economics. Professors of the department Umudvar Aliyev, Gabil Manafov are members of the editorial board and co-authors of the monograph “Heydar Aliyev Strategy of Economic Development of Azerbaijan (2019). Professor Rasim Nabiyev and Assoc.Prodessor Ali Hajiyev is one of the co-authors of that monograph.
Professor Gabil Nadir oglu Manafov is the director of the Master’s Center at the university. Professors of the department U.G. Aliyev, E.R. Ibrahimov, G.N.Manafov, R.A. Nabiyev, S.S. Gafarov take an active part in the promotion of successful economic policy in the country.
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. Planned scientific research projected for 2020-2022 reflects the study of more modern economic problems that reflect the economic reality of Azerbaijan. Thus, starting from 2020, the goal is to study the problems of “Actual problems of realization of strategic goals in terms of the Strategic Road Map for the national economy of the Republic of Azerbaijan.”
The implementation of scientific research work has led to the emergence of new staff potential and improving the quality of the department. The results gained and used in the teaching the topics on Macroeconomic, Introduction to economics and Microeconomics disciplines have been presented to different economic bodies and organizations in the form of recommendations and suggestions. As a result, a scientific school in the field of macroeconomics on the specialty “Economic Theory” was formed at the Department of “Theoretical and Practical Economics”. Employees of the department are engaged in teaching in all faculties of the University. A number of employees of the department work in responsible positions both at the University and outside the University.
According to the order of September 15, 2020, 413/3/2020 ,the department of “Economics of the enterprise” was entrusted to the department of “Theoretical and Practical Economics”.
5 professors (1 consultant), 18 associate professors, 3 senior teachers, 2 teachers, 1 assistant, 3 senior laboratory assistants, 1 laboratory assistant work at at the department of “Theoretical and Practical Economics”
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Consultants: