Financial University under the Government of the Russian Federation

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Coordinates: 55°48′01″N 37°31′45″E / 55.800256°N 37.529274°E / 55.800256; 37.529274

Finance University under the Government of the Russian Federation (FinU)
Finuniver mainbuilding.jpg
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
MottoЦеним 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!
TypePublic
Established1919
Endowment268 million RUB (2017) [1]
PresidentMikhail Eskindarov
RectorStanislav Prokofiev[2]
Academic staff
2,999[3]
Students45,666 (fall 2020)[4]
Undergraduates29,494 (fall 2020)[4]
Postgraduates4,192 (fall 2020)[4]
340
Address
Leningradsky Prospekt 49
, ,
Russia

55°48′01″N 37°31′44″E / 55.8003°N 37.5289°E / 55.8003; 37.5289
Colors  Dark Turquoise [5]
Websiteen.fa.ru

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 is considered among top five universities in Russia according to Forbes[6] and RBC[7] as well as one of the oldest Russian universities preparing economists, financiers, philosophers , bankers and financial lawyers.[8]

FinU had several bygone names:

  • 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.

The university is well known for its strong alumni network and famous graduates including the third wealthiest person in Russia, Mikhail Prokhorov, Deputy Prime Minister Alexander Khloponin, Finance Minister Anton Siluanov, Governor of Krasnoyarsk Krai Lev Kuznetsov, CEO of Gazprombank Andrey Akimov and some others who have taken up leading positions in politics, business and academia. According to CEO magazine, the Financial University is ranked first in the country in terms of the number of billionaires who studied there.

History[edit]

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 D.P Bogolepov – 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.[9]

In 1991, Moscow Finance Institute was renamed to "State Finance Academy" and in 1992 Russian President Boris Yeltsin changed its name to the "Finance Academy under the Government of Russian Federation" giving a governmental status to the institution.[9]

In 2009, the Finance Academy celebrated 90 years of its history and received congratulations from numerous business and government officials, including Prime Minister Vladimir Putin and Finance Minister Alexey Kudrin.

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.[10]

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.[11]

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.

Departments and faculties[edit]

The system of higher education established at Finance University includes:

  • a pre-university specialised programme to prepare school pupils for entrance to the university
  • university programmes (bachelor's degree – certified specialist's degree – master's degree)
  • post-graduate and doctorate studies
  • second professional higher education in finance and economics
  • short-term professional retraining and skill development
  • MBA, EMBA, DBA, and MPA programmes

Faculties[edit]

  • Higher School of Management
  • School of Economics and Business
  • School of Finance
  • School of Information Technologies and Big Data Analysis
  • School of International Economics Relations
  • School of Law
  • School of Social Science and Mass Communications
  • School of Taxes, Audit, and Business Analysis

Departments[edit]

Academics[edit]

Admissions[edit]

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.[12] It is the third best result among higher educational institutions (after Moscow State University and Moscow Institute of Physics and Technology).

Research profile[edit]

Finance University actively 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.).[13]

Reputation and rankings[edit]

Based on the average score of the Unified State Examination in 2010, the university is ranked number 5 overall out of 476 Russian institutions of higher education and number 3 among institutions specializing in social sciences.[14] Integrated ranking of the Russian journal "Finance" put the Financial University as the best higher institution for economics and finance in 2010.[15] 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".[16]

Russian University Rankings
2013 2012 2011 2010 2009
Ria Novosti / HSE – EGE General 10th[17] 14th[18] 6th[19] 5th[20] 3rd[21]
Expert RA – General 12th[22] 14th[23] - - -
Ria Novosti / HSE – EGE Social Sciences 4th[24] 6th[25] 5th[26] 3rd[27] 1st[21]

Notable alumni[edit]

Financial University is well known for its strong alumni network in business, academia and politics. Among the graduates are:

Academia[edit]

Business[edit]

Law[edit]

Politics[edit]

Sport[edit]

International cooperation[edit]

The Financial University has entered into 17 new agreements with partner institutes of Australia, UK, Germany, Spain, China, United States, Czech Republic and other countries, including:

Interesting facts[edit]

Financial University is a member of the Russian Law Journal consortium.

See also[edit]

References[edit]

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External links[edit]