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The NES 25th Anniversary Conference
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On November 13, to mark the NES 25th Anniversary, the Department of Humanities and Languages held Day of English. Students of NES MA and BA and the Skolkovo International Gymnasium competed in a quest checking their knowledge of the English language and English-speaking cultures. The English faculty led 6 stations:
  • Asking for Cash Station, where students competed to write the best request for scholarship money to their dream university (Ashley Squires and Matthew Overstreet)
  • Business Negotiation Station, where teams had a chance to go head to head negotiating real-world case studies (Kevin Cancellaro)
  • Don’t get me wrong Station, at which teams had to solve pronunciation puzzles (Tatiana Skopintseva)
  •  Translation/Interpreting Station, where students tried their hand at translating and competed against other students for the title of best translator (Ekaterina Semyonova)
  •  Trivial Pursuit Station, where students tried to guess the topic with clues from cue cards (Alyona Ovchinnikova)
  •  Visual Riddle Station, where students competed to connect the meanings of obscure and interesting visual cues (Anna Volchanskaya)
The event ended with an award ceremony and a hilarious pizza party. The Department is very much grateful to the students who took part in the quest and the NES staff for their help and support.
On October 30 the Chairman of the Management Board of Morgan Stanley Bank Mikhail Soloviev  has given a lecture for students, graduates and friends of NES: «Investment banking challenges and work in this sector».

He described the main problems of the sector: difficulties with passive investments, accumulating funds in one hands, the absence of decision makers and unreliability of neural networks. Also Mikhail Soloviev doesn't advise to invest in Bitcoin because it isn’t reliable currency.

He has also told about hiring process at Morgan Stanley Bank in Russia. In one year the bank hires one-two employees from Russia to the Moscow office, and 10-11 people a year in Moscow and London banks for work on the Russian direction.

In 2007 NES, with the aid of Morgan Stanley, has started the «Master of Finance» program. More details are available here.
On October 25th, Artem Zheleznov, Head of Strategic Development at Moscow Exchange, has described the looming new opportunities and threats for financial market infrastructure and described the new trends in capital market development.  He also underscored the importance of financial startups and innovation in the sector. According to Artem, the key trends of fintech in capital market are: reduction of intermediaries’ role on capital market, work with big data, blockchain, development of products for retail investors, crowdfunding and financial startups growth. The Moscow Exchange has created LLC «MB Innovatsii» for work with startups. In the next four years the Exchange will invest up to 1,2 billion rubles in innovative projects. Public lecture was held under the auspices of NES’s 25th anniversary and «Masters in Finance» programme 10th anniversary.

Presentation «Fintech on capital Markets. MOEX Experience»

On October 30 NES CSDSI started the 3rd workshop "Imperfect Markets: Collusion, Networks, and Crowdfunding" for young scientists and students. During 4 days 15 researchers and experts will familiarize 35 participants with modern analysis methods and imperfect market theory applications including collusion issues, network analysis concepts and various aspects of crowdfunding interaction models. The workshop is funded by RSF Project No. 15-18-30081 (Sergei Izmalkov as a principal investigator). Program >>>

The paper by Olga Kuzmina and Olga Kuznetsova (BAE'2016) "Operational and Financial Hedging: Evidence from Export and Import Behaviorhas been accepted by Journal of Corporate Finance
The paper by Andrei Markevich and Ekaterina Zhuravskaya "The Economic Effects of the Abolition of Serfdom: Evidence from the Russian Empirehas been accepted by American Economic Review
In October 2017 Petr Aven has endorsed two professorship positions for NES professors for 2017-2018 academic year: Petr Aven assistant professor of Finance Olga Kuzmina (PhD, Columbia University, Graduate School of Business), and Alfa-Bank Banking Group assistant professor of Economics Maria Petrova (PhD, Harvard University). 
Petr Aven is the Chairman of the Board of Directors of Alfa-Bank Banking Group and the board member of the NES Board of Directors and NES Endowment Fund since 2012. 
In 2016 the management of Alfa-Bank has established Alfa-Bank Banking Group professorship for assistant professor of Economics Maria Petrova, and Petr Aven professorship for associate professor of Finance Ruben Enikolopov (PhD, Harvard University), for 2016-2017 academic year.  
“I support NES as I believe that it is impossible to build an efficient economy is a state with no or very few qualified economists.” – said Petr Aven. 
NES accepts the support with deep gratitude and expresses its sincere appreciation to Mr. Aven personally and to the Alfa Bank.  
NES has three Thomson Reuters terminals Thomson Reuters database became available to NES’s students and professors In September NES signed an agreement with Thomson Reuters for access to data terminals. Thomson Reuters is a leading provider of analytical information around the world. The system has lots of economic and finance data. Three terminals set in a School’s computer class. 
Irina Denisova Is a Winner of the ARETT Medal

On October 6, NES Professor Irina Denisova got the ARETT (Association of Russian Economic Think Tanks) Medal “In Recognition of Research in Economic Analysis.”

ARETT Medal is awarded to leading Russian economists for the outstanding individual contribution to the development of economic analysis in Russia. In 2016, one of the experts who was awarded this medal was NES Professor Natalya Volchkova.

Congratulations to professor Denisova! >>>

New Economic School Congratulates All With the Start of the New Academic Year!

And so the 2017–2018 Academic Year began! We congratulate all students and professors!

On September 1, 2017, Mr. Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, Chairman of the Board of Directors of NES, visited the School. He greeted our freshmen on the beginning of the academic year and wished them excellent grades and interesting studies.

Professor Shlomo Weber, NES Rector, also addressed the students, and Zarema Kasabieva, Vice-Rector for Educational and Students Affairs, spoke about NES, its history and achievements.

The new academic year at NES kicked-off with the orientation for the first-year students. >>>

NES-HCEO Summer School on Socioeconomic Inequality

On August 28–September 1, Center for the Study of Diversity and Social Interactions at New Economic School (NES CSDSI) and the Human Capital and Economic Opportunity Global Working Group (HCEO) at the University of Chicago jointly organized the NES-HCEO Summer School on Socioeconomic Inequality (SSSI Moscow) which took place at NES.

34 participants from 25 universities and 13 countries studied the current research on inequality and program evaluation and presented their own research. The experts of the school were professors Lawrence Blume (Cornell University and IHS Vienna), Steven Durlauf (University of Chicago), Ruben Enikolopov (NES and Pompeu Fabra University), Jeffrey Smith (University of Michigan), Petra Todd (University of Pennsylvania), and Shlomo Weber, NES Rector. >>>

NES-HCEO Summer School’s page (description, program, and slides) >>>
3 Questions with Shlomo Weber on the HCEO website >>>

New Book by Ashley Squires

This book describes the presence of Christian Science in American literature at the turn of the 20th century

On August 7, Ashley Squires’s book, Healing the Nation: Literature, Progress, and Christian Science, was released by Indiana University Press. Squires is an assistant professor at the Department of Humanities and Languages and Director of the Writing and Communication Center at NES. Congratulations to the author!

Exploring the surprising presence of Christian Science—a Protestant religious denomination—in American literature at the turn of the 20th century, Ashley Squires reveals the rich and complex connections between religion and literature in American culture. Mary Baker Eddy’s Church of Christ, Scientist, founded in the middle of the 19th century, was one of the fastest growing and most controversial religious movements in the United States, and it is no accident that its influence touched the lives and work of many American writers, including Frances Hodgson Burnett, Theodore Dreiser, and Mark Twain.

In a moment when the struggle between religion and science framed debates about how the United States was to become a modern nation, the Christian Science movement contributed to popular narratives about how to heal the nation and advance the cause of human progress, Squires concludes. >>>

Ashley Squires’s book on Amazon >>>

The paper by Denis Davydov, Alexander Shapoval, and Shlomo Weber "Linguistic equilibrium with local and world languages: challenges of globalization" has been accepted for publication in The World Economy
BankEx Fin-Tech Startup Announces Pre-ICO Result of 1.5 Million USD

BankEx was founded in 2016 as an independent fin-tech laboratory by Igor Khmel (MAE’2006)

August 1. BankEx, a fin-tech startup offering blockchain-based financial products and fund-raising solutions, has raised the equivalent of 1.5 million USD in token private placement. BankEx was founded in 2016 as an independent fin-tech laboratory by Igor Khmel, a former head of the fin-tech laboratory at Sberbank, graduate of the Moscow Institute of Physics and Technology, New Economic School (MAE’2006), and Stanford Business School.

During a pre-sale via the Waves and Ethereum platforms, 6m PBKX tokens worth 1.5m USD (at the exchange rate registered on August 1, 2017) were sold. 90% of the tokens were sold in private placement with entry barrier set at 10 BTC. At the ICO start, all current PBKX tokens held by buyers will be converted into public BKX tokens at an exchange rate of 1:1.

Professional financial market and crypto industry participants were the main buyers, among which were Asian and European crypto tycoons (Japan, the Netherlands) and several Russian crypto funds.

In total, BankEx has received 70 pre-ICO inquiries from 70 buyers from 12 countries, including Canada, Japan, Australia, France, Austria, Switzerland, the Netherlands, Norway, Croatia, Romania, Russia, and Latvia.

According to BankEx founder and CEO Igor Khmel, the first BankEx Foundation ICO issue is planned in autumn 2017. During ICO, 100-150m BankEx tokens worth no less than $20-50m will be sold, mainly to institutional clients. BankEx has already received hard commitments on ICO participation from accredited investors in New York and Palo Alto, including family offices of major New York financiers. In the United States, BankEx tokens will have the status of securities and will be distributed among professional market participants only.

About BankEx

BankEx develops a proof-of-asset protocol for real, financial and crypto assets on blockchain-based infrastructure. The system will function based on the so-called smart assets (internal tokens), which will be issued so that authorized participants can digitalize their assets and raise funds using the benefits of the global market. >>>

NES 25 Family Boat Trip & Fun

On July 29, NES 25 Family Boat Trip & Fun event—boat trip for NES community members—took place. Professors, staff, students, alumni, NES friends, and the families of NES people—all were guests aboard the Port Arthur river cruise ship.

At the beginning of the trip, Zarema Kasabieva, Vice-Rector for Educational and Students Affairs, said that such journeys were the NES’s old tradition.

This trip was full of different funny activities, many of which were dedicated to the NES’s 25th anniversary. It was a genuine NES holiday! >>>

Coming soon
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New Economic School is celebrating its 25th anniversary this year! We invite you to take part in key event of the celebration: the NES 25th Anniversary Conference which will take place December 18-19, 2017 in Moscow, in the Metropol Hotel. Registration for general participants is open >>> If you have any questions, please do not hesitate to contact us at Find out more on the conference website >>>
On December 12–16 NES CSDSI organizes the 5th winter school «Towards Effective and Equitable Development: the Role of Institutions and Diversity». The deadline for application is November 9. Details >>>
More events >>>
NES in Media
13.11.2017 Forbes: Leadership In Russia: Hacking, Trust And Where Do We Go From Here? Comments by Shlomo Weber and Oleg Shibanov >>>
20.09.2017 WNYC: What Would Be the Best Universal Language? (Earth 2.0 Series). The second episode with Shlomo Weber on Freakonomics Radio >>>
Media archive >>>

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