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Academic Program

Program curriculum and course descriptions

Duration of study: 4 years (8 semesters).

The academic program consists of core (required) courses in Economics, Mathematics and English, a set of specialized electives in Economics and a wide variety of general electives.  Approximately half of the program consists of Economics and Mathematics courses, another half is English courses and general electives.  

Mathematics is an important part of the program core because modern Economics is a strongly mathematized science. An accent is made on teaching the methods of optimization that are necessary for studying the Economics theory, as well as Probability Theory and Statistics that are intensively applied in Econometrics courses.      

We made English a part of the program core as well, because a modern economist cannot advance in his career without being able to communicate and write in English, regardless of the occupation he/she chooses. An advanced level of English is one of the requirements for the graduates of our program.

I. Program core equips students with enough knowledge in Mathematics, Economics and English to be able to take advanced specialized courses offered in the last two years of studies, including those that are taught in English.


  • Introduction to Economics (1st semester), 6 credit hours
  • Microeconomics (2nd and 3rd semester), 12 credit hours
  • Macroeconomics (3rd and 4th semester), 12 credit hours
  • Econometrics (5th semester), 6 credit hours                
  • Statistics (5th or 6th semester), 3 credit hours


  • Calculus (1st and 3rd semester), 10 credit hours
  • Linear Algebra (2nd semester), 6 credit hours
  • Probability Theory and Mathematical Statistics (4th semester), 6 credit hours


  • English: Beginner, 12 credit hours
  • English: Intermediate, 12 credit hours
  • English: Advanced (minimum 2 semesters, by student’s choice), 12 credit hours

Beginning and Intermediate courses must be taken during the first two years of studies. Students whose knowledge of English is sufficient, may be allowed to skip the Intermediate and/or Beginning courses. In that case, they will be required to take the same number of other electives. Every student is required to take twp Advaced English courses during the course of study.

II. Specialized courses in Economics provide in-depth knowledge of Economics, enough for a student to continue their education at a graduate level or start a career right after graduation. These courses will be offered generally during the 3rd and 4th years of studies. However, some may be taken earlier, depending on the prerequisites set by the instructor.

Students are required to take a minimum of seven courses from the following (preliminary) list. Each of the courses is worth 6 credit hours.

  • Development Economics
  • The Theory of Economic Growth
  • International Economics
  • Labor Economics
  • Contract Theory
  • Economics of the Public sector
  • Financial Markets and Instruments
  • Monetary Policy
  • Financial Accountability and Corporate Finance
  • Political Economics
  • Institutional Economics
  • The Theory of Trade Organization
  • Econometrics (advanced level)
  • Economic History
  • Economic geography
  • The History of Economic Thought             

III. General electives are intended to give students a broad education and a good understanding of some disciplines outside Economics and Mathematics. We believe that this is necessary for every student’s individual development and their future career because modern economic theory and practice relate closely to many other areas.  

Students choose their own courses and decide when it is best to take them, but they need the approval of their professor-adviser.  

Students are required to take at least one History course and one Philosophy course. There may be several different courses offered in each discipline.  

Students also have a right to replace some of the general electives with specialized Economics and Mathematics courses, provided that they have an approval of the adviser.   

A list of general electives will be expanding throughout the program’s existence and will largely depend on the research areas of interest of the professors – instructors, including visiting professors. This set of courses will consist of social sciences (History, law, Sociology, Political science, Psychology, Demographics, etc.), sciences and Mathematics courses (Logic, Information Systems and Computer Science, Differentials, Optimal Management, Game Theory, Risk Theory, etc.), and humanities (Literature, Religion History, Art History, etc.).

Each general elective is worth 6 credit hours, and, therefore, has the same weight and value as specialized courses.

Academic program summary: Students are required to earn 60 credit hours each year (+-0.5 c/h). Out of the 240 total credit hours in the program 29 have to be for Physical Education, Scientific research, internships and final assessment: 1,5 credit hours during the 1st and 2nd year, 2.5 and 23.5 – during the 3rd and 4th year respectively. This means that students will need to take 5 courses each semester during the first two years and three courses each semester during the last year of the program.  

During the first two years students can take no more than two courses  in each specialization every semester including required courses (to check specialization for each course please see Course Catalog).

Basic Study Plan (Russian version)

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