Financial University under the Government of the Russian Federation
Summary
Financial University under the Government of the Russian Federation (FinU or Financial University; Russian: Финансовый университет при Правительстве Российской Федерации) is a public university located in Moscow, Russia. It was considered among top five universities in Russia in 2010 according to Forbes[8] and RBC[9] as well as one of the oldest Russian universities preparing economists, financiers, philosophers, bankers and financial lawyers.[10] It was ranked between # 1,001 and 1,200 globally in 2023 in the QS World University Rankings.[6]
Finance University under the Government of the Russian Federation (FinU)
Finance University under the Government of the Russian Federation (FinU) main building
Other name
FinU, FinUniversity, or literally Financial University
Former names
Moscow Institute of Economics and Finance, Moscow Finance Institute, State Finance Academy, Finance Academy under the Government of the Russian Federation
Motto
Ценим прошлое, но основываясь на достигнутом, строим будущее! (Russian)
Motto in English
We appreciate the past, we look at what we've achieved, and we build the future!
Moscow Institute of Economics and Finance (1919–1946)
Moscow Finance Institute (1946–1990)
State Finance Academy (1991–1992)
Finance Academy under the Government of the Russian Federation (1992–2010)
Financial University consists of eight faculties, 40 departments, three institutes, two high schools, two research institutes, eight centers, two training – science laboratories, a network of regional offices – 11 branches and four offices open in seven regions of Russia.
Historyedit
History of Financial University started in December 1918 when the People's Finance Commissar decided to create a specialized financial institution of higher education – the first in the history of Russia – Moscow Institute of Economics and Finance. It was opened on 2 March 1919, and its first rector was Dmitry Bogolepov [ru] – the Moscow State University graduate, the Deputy People's Finance Commissar of RSFSR. In September 1946, the institute was consolidated with Moscow Credit-Economic Institute training students since 1931. As a result of merger of these two institutions of higher education Moscow Finance Institute was formed, with Nikolai Rovinsky as its rector. It began with two thousand students and four faculties: Finance, Economic, Accounting, Credit, Monetary Economics, International Economic Relations. The Military Department opened later, in 1947.[11]
In 1991, Moscow Finance Institute was renamed to "State Finance Academy" and in 1992 Russian PresidentBoris Yeltsin changed its name to the "Finance Academy under the Government of Russian Federation" giving a governmental status to the institution.[11] In 2009, the Finance Academy celebrated 90 years of its history.[citation needed]
On 14 July 2010, the Russian Government approved a new Charter for the institution changing its name from the "Finance Academy" into the "Finance University" and made it an official consultative body to the government.[12]
On 4 March 2011, KPMG opened its own department at the university to enhance cooperation based on lectures and practical activities covering audit, International Financial Reporting Standards, taxation and corporate finance.[13]
In 2011–2012 Financial University finished acquisition of three higher education institutions in Russia: State University of the Russian Ministry of Finance, Tax Academy of the Russian Federation, All-Russian Distance Institute of Finance [ru].[citation needed]
Departments and facultiesedit
The system of higher education established at Finance University includes:
a pre-university specialised programme to prepare school pupils for entrance to the university
Admission requirements are among the highest in Russia. In 2009 Finance University received 80 applications per one budget place. According to the research published by State University – Higher School of Economics, successful applicant of the year 2009 required to have on average 85 points of the Unified State Examination score in each subject in order to enter the course.[14]
Research profileedit
Finance University carries out research activities. These include both fundamental and applied research in the areas of finance, money circulation and credit, insurance, accounting and audit, business evaluation, international monetary relations; research done for post doctoral and PhD dissertations; development of expert-and-analytical materials requested by the bodies of legislative and executive power; organisation of scientific events (conferences, seminars, "roundtables", etc.).[15]
Reputation and rankingsedit
It was ranked between # 1,001 and 1,200 globally in 2023 in the QS World University Rankings.[6] Based on the average score of the Unified State Examination in 2010, the university was ranked number 5 overall out of 476 Russian institutions of higher education and number 3 among institutions specializing in social sciences.[16] Integrated ranking of the Russian journal "Finance" put the Financial University as the best higher institution for economics and finance in 2010.[17] The university became the competition winner "Golden Medal "European Quality" in the category of "100 Best Institutions of Higher Education in Russia". Furthermore, according to the ranking of Huazhong University of Science and Technology, the Finance University is placed third among top 100 Russia's institutions of higher education. The Financial University was also ranked among 32 best business schools in the world (1st in Russia and 16th in Europe) in 2013 by the "Ranking Web of World Business Schools".[18]
Review of Business and Economics Studies (also known as RoBES) is a quarterly peer-reviewedacademic journal covering economics and business. It was established in 2013. It is published by Financial University under the Government of the Russian Federation.
All submissions undergo a double-blind peer review. The review is carried out by the editorial board members and external experts on behalf of the editorial board. All reviewers must be experts on the subject of the reviewed materials.[39]
2013-2022: Dr. Alexander I. Ilyinsky ru:Ильинский, Александр Иоильевич[42]
Notable papersedit
According to Google Scholar, the following three papers have been cited most frequently:
Dźwigoł H. Interim Management as a New Approach to the Company Management. Review of Business and Economics Studies. 2020;8(1):20-26.
Anton K. A structural model of exchange rate dynamics. Review of Business and Economics Studies. 2014(3):86-92.
Eroshkin S.Y., Kallaur G.Y., Papikian L.M. Lean Construction and BIM: Complementing Each Other for Better Project Management. Review of Business and Economics Studies. 2016;4(4):17-22.
Notable alumniedit
Among the graduates are:
Academiaedit
Alla Gryaznova – economist, former rector and current president of the Finance University[43]
Vladimir Golubkov – chief executive officer of Rosbank[61]
Politicsedit
Alexey Navalny – politician, political prisoner, investigative blogger, World Fellow at Yale University's "World Fellows Program,[62] Moscow mayor candidate
N.V. Garetovsky – chairman of the board of the USSR State Bank in 1987–1989[70]
Sergey Shakhray – deputy prime minister of Russia in 1991–1996, Russian constitution author and chief of staff of the accounts chamber of the Russian Federation[71]
Nathalie Péchalat – French ice dancer, the 2009 French national champion and the 2009 Grand Prix Final bronze medalist
Khabib Nurmagomedov –mixed martial artist, former UFC Lightweight champion and a two-time Combat Sambo World Champion.
International cooperationedit
Before the 2022 Russian invasion of Ukraine and the cutting of academic cooperation with Russia by a significant part of the international community, the Financial University had entered into 17 new agreements with partner institutes of Australia, UK, Germany, Spain, China, United States, Czech Republic and other countries, including:
University of London, UK – cooperation in the Bachelor of Science programmes offered through the International Programmes
Santander, Spain – sponsorship of educational and scientific cooperation programs of the Finance Academy and Spanish universities and establishment of the Research Center for the world financial system
Following the 2022 Russian invasion of Ukraine, the government of Ukraine has introduced sanctions against the Financial University,[73] its rector Stanislav Prokofiev,[74] and president Mikhail Eskindarov.[75][76] In March that year, Prokofiev and Eskindarov had signed an open letter of Russian university rectors supporting the invasion.[77] The sanctions include an indefinite termination of any cultural exchange, scientific cooperation, educational and sports contacts, entertainment programs of Ukrainian entities and persons with the Financial University as well as a visa ban and asset freeze for Prokofiev and Eskindarov.[76]
Other factsedit
Financial University is a member of the Russian Law Journal consortium.[citation needed]
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^University of Finance under the Government of the Russian Federation - SANCTION LISTS / SANCTIONS IMPOSED ON LEGAL ENTITIES, War and Sanctions database, National Agency on Corruption Prevention
^ abУКАЗ ПРЕЗИДЕНТА УКРАЇНИ №401/2022 Про рішення Ради національної безпеки і оборони України від 9 червня 2022 року "Про застосування персональних спеціальних економічних та інших обмежувальних заходів (санкцій)" [Decree by the President of Ukraine #401/2022] - Official website of the President of Ukraine, 9 June 2022
^Обращение Российского Союза ректоров [Appeal by the Russian Rector Union] - Russian Rector Union official website, 4 March 2022
External linksedit
Media related to Finance University at Wikimedia Commons
Official website
Scientific Electronic Library
QS Rankings Guide on the Financial University
Official Website of the Financial University
Comprehensive Guide on Rankings of Russian Universities Based on Different Criteria (in Russian)