History of NES



The New Economic School was founded on May 5, 1992 by Valery Makarov, Academician of the Russian Academy of Sciences, and Gur Ofer, Professor at the Hebrew University of Jerusalem. Valery Makarov became the first Rector of NES. Later, Gur Ofer was awarded for his unique contribution to the establishment of economic education in Russia and his studies of Soviet and Russian economy. NES International Advisory Board started its work even before the School's opening and included the leading economists from the world's best universities.


"During the market economy period in Russia there was no classical economic education, but there was a significant ideological part that dominated thoroughly. At first there was an idea to establish a school in econometrics, and then I suddenly met my friend Gur Ofer, Professor at the Hebrew University of Jerusalem. We started to talk about how to open this school, and he immediately told me: "Why econometrics? It is necessary to make a school in all subjects, to provide a real education".

Valery Makarov


"My involvement with NES changed my life in many respects. It is gratifying to think that it also improved the lives of many young people and gave them tools with which they could contribute to the quality of life to many more".

Gur Ofer


The new university aimed to provide modern economic education and research for Russian society, business and public sector. The "Master of Arts in Economics" program was launched in September of the same year, and the first 37 students started their classes in the building of the Central Economics and Mathematics Institute of the Russian Academy of Science. CEMI RAS and Lomonosov Moscow State University became the founders of NES. 


Meeting of International Advisory Board. From left to right: Michael Bruno, Zvi Griliches, Roman Frydman, Gur Ofer, Valery Makarov, Barry Ickes, 1993


NES library also has its own history. Since 1995 it has been named after Don Patinkin, renowned economist who taught at NES and made an invaluable contribution to the development of the School. Don Patinkin's library was donated to the School, and students can still read books from the professor's collection.


Don Patinkin Library at NES

Don Patinkin

Don Patinkin Library at NES


In June 1994 the first students graduated from NES, among them – future alumni of Harvard University, Yale University, Massachusetts Institute of Technology and other prestigious foreign universities. At the same time, NES Alumni and Friends Association was founded. Now the NES community includes more than two thousand graduates.


First NES graduating class







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