UNEC prepares highly qualified specialists in the fields of economics, technical and technological sciences, as well as the humanities and social sciences. The university employs close to 800 academic staff members and provides education to more than 21,000 students. Its teaching and learning processes are aligned with
international standards, and UNEC maintains extensive partnerships with leading universities around the world.Scientific research activities, innovative academic practices, and a comprehensive digital learning environment have positioned UNEC among the foremost universities in the region.
Our Rectors
Our History
6 November 1920
The preparation of highly qualified economists in our country began in the 1920s. One of the five faculties established within the Polytechnic Institute, founded by the Azerbaijan Revolutionary Committee, was the Faculty of Economics. In 1922, the Economics Division was opened within the Faculty of Social Sciences of the Azerbaijan State University, and this division trained economists until 1930.
19 June 1930
On the basis of the decision of the Council of People’s Commissars of the Azerbaijan SSR, the Azerbaijan State University was reorganized into separate institutes. The establishment of the Azerbaijan Trade and Cooperation Institute on the foundation of the University’s Economics Division laid the groundwork for what would later become the Azerbaijan State University of Economics.
January 1933
The Azerbaijan Social Economy Institute was established on the basis of the Azerbaijan Trade and Cooperation Institute. This new institution brought together smaller institutes previously operating under various ministries and agencies, including the Institutes of Socialist Accounting, Soviet Governance and Law, Finance, and Planning Economics, thereby consolidating a strong academic capacity.
1941
With the outbreak of the Second World War, several institutes, including the Azerbaijan Institute of National Economy, were merged into the Azerbaijan State University. From 1945 to 1959, the institute once again operated independently.
14 March 1959
In accordance with the decision of the Council of Ministers of the USSR, the operations of the Azerbaijan Institute of National Economy were once again suspended, and the leading economics-related specialties were concentrated within the Azerbaijan State University. Large-scale preparatory work was undertaken to restore the independent activity of the Azerbaijan Institute of National Economy. Teaching facilities, auxiliary buildings, laboratories and classrooms, and thousands of book volumes previously transferred to the University were returned. The main academic building located at 6 Kommunist Street (now 6 Istiglaliyyat Street), which currently serves as UNEC’s main building, was reallocated to the Institute.
1987
The Dadash Bunyadzada Azerbaijan Institute of National Economy, which had earlier regained its independence, was dissolved once more and replaced by the Baku Branch of the N. Voznesensky Leningrad Finance and Economics Institute.
1965
The reinstatement of the Azerbaijan Institute of National Economy was directly linked to the economic reforms driven by rapid industrial development following the September 1965 Plenum. On 10 February 1966, the Council of Ministers of the USSR adopted a decree on re-establishing the Azerbaijan Institute of National Economy in Baku. Based on this decision, the Azerbaijani Government issued a resolution enabling the Institute to resume independent operations. According to the resolution, the Faculties of General Economics and Commodity Studies of the Azerbaijan State University were transferred to the Institute.
29 July 1990
After operating for three years as the Baku Branch of the Leningrad Institute of Finance and Economics, the institution was reestablished as the Azerbaijan State Institute of Economics by decree of the Council of Ministers of the USSR in July 1990. Following its reestablishment, the Azerbaijan Institute of National Economy (now renamed the Azerbaijan Institute of Economics) swiftly regained its former reputation and became one of the largest and most highly sought-after higher education institutions of independent Azerbaijan.
13 June 2000
By Presidential Decree No. 349, the Azerbaijan State Institute of Economics and the Baku Institute of Commodity Studies were merged to form the Azerbaijan State University of Economics. Thus, the institution founded in 1930 evolved from a small faculty into one of the most prominent universities in the country and the largest center of economics education in the Caucasus. One of the most significant moments in the University’s history was the visit of National Leader Heydar Aliyev. On 13 June 2002, President Heydar Aliyev attended the 70th anniversary celebration of the University—an event that remains a lasting memory for the UNEC community. His unwavering support for science, education, and dedicated scholars played a vital role in the development of higher education in Azerbaijan.
8 October 2007
The substantial reforms implemented at the University in recent years received high recognition from President Ilham Aliyev during the institution’s 75th anniversary celebrations. The President attended the opening ceremony of the University’s new academic building and delivered a landmark speech, highly praising the ongoing reforms and extending his best wishes to the University staff. President Ilham Aliyev stated: “I believe that Azerbaijani specialists must hold the leading positions in our country. For this to happen, their knowledge must be of the highest level. They must understand global business management and demonstrate professionalism. The Azerbaijan State University of Economics plays an exceptional role in this process, and its contributions will be significant. I hope all universities in Azerbaijan will reach this level.”
3 September 2020
UNEC’s Academic Building No. 3 in Yasamal District was fully reconstructed and inaugurated. President Ilham Aliyev and First Lady Mehriban Aliyeva attended the opening ceremony of the new facility on Murtuza Mukhtarov Street. The renovated complex, designed in line with modern campus standards and enriched with contemporary architectural elements, comprises four interconnected buildings and can accommodate 3,000 students in technical and technological specialties. The building houses 30 classrooms, 6 lecture halls, 6 language laboratories, 14 state-of-the-art laboratories, a large sports hall, a two-story library, and large and small conference halls.
