Azerbaijan State University of Economics

The Azerbaijan State University of Economics is a public institution of higher education that can be found in Baku, Azerbaijan. Since its establishment in 1930, UNEC has grown to become one of the largest educational institutions in the South Caucasus region. More than 1000 teachers are employed by UNEC, including 62 professors and 344 docents. Among these teachers and docents are active members of the Azerbaijan National Academy of Sciences and the New York Academy of Sciences, as well as winners of state awards, honoured teachers, and scientists. UNEC has 14 faculties, where 18.5 thousand students get their education, and it offers master programmes in 57 specialties. The United Nations Educational, Scientific, and Cultural Organization (UNEC) is a full member of the European University Association, the Federation of the Universities of the Islamic World, the University Council of Organization of the Black Sea Economic Cooperation, and the Eurasian Association of Universities. There are roughly 650 international students currently enrolled at UNEC in either undergraduate or graduate level programmes, out of a total student body of 18,400.

In 2007, UNEC constructed a Library and Information Center as well as a student Career Center. In addition, a brand new 7-story instructional facility that is up to the most stringent international standards was also inaugurated that year. In the same year, UNEC was honoured with awards from the European University Association, the European Club of Rectors, and the "European quality" award. Since 2018, an open library has been housed in the Main Building of the institution, which is located on the street of Istiglaliyyat.

The strategic direction for the development of UNEC was to bring the educational process up to the international standards by the year 2010, finish the process of international accreditation, and ensure full compliance with the Bologna Process, as well as participate more actively in the global market for educational services. At the moment, Professor Adalat Muradov serves as both the rector of the institution and one of its five vice rectors.

When it was first established, it was a department of Baku State University. In 1934, it was officially established as a stand-alone university. Over the course of its history, it has undergone a number of name changes, and there have been several instances in which it has remerged with or been severed from Baku State. The institution first opened its doors in 1930 under the moniker of the Trade-Cooperative Institute. In 1933, the government of the Azerbaijan SSR changed the name of the university to the "Azerbaijan Social-Economic University named after Karl Marx." This was done in a manner comparable to the naming of the Azerbaijan Medical University after Nariman Narimanov. At the same time, the university began implementing new curriculums in the areas of accounting, law, and finance. The name of the institution was changed in 1936 to the "Azerbaijan Social-Economic Institute named after Karl Marx." As World War II broke out, the United Nations Economic Commission (UNEC) was absorbed into the Department of Economics at Baku State University. By 1944, the school had once again become its own entity, this time operating as the Azerbaijan National Economic Institute. It continued to operate under this name until March 1959, when, as a result of the conflict, it was merged back into Baku State University.

The institution went its own way for the last time in 1966 and has remained autonomous ever since. It was originally known as the Dadash Bunyadzade Azerbaijan National Economic Institute. It was renamed the Finance-Economic Institute in 1987, and then in 2000, by an act of the Azerbaijani government, it was eventually converted to its present form, which is its current name.