Department of Economics

The Department of Political Economy was established in 1958 as a result of MGIMO’s merger with the Institute of Foreign Trade MFT of the USSR, and immediately became one of the main departments of the School of International Economic Relations.

The Department has always been headed by prominent professional scientists: Prof. A.Monakhimovich in 1954-1967, Prof. S.Sergeev in 1967-1972, Prof. M.Zakalinskiy in 1972-1974, Prof. V.Trepelkov in 1974-1990, Prof. M.Chepurin in 1990-2008, Prof. S.Ivashkovskiy in 2008-2018.

Since 2018 the Department is headed by Prof. Olesya Ryazanova, Doctor of Economics.

In 1991 the Department was renamed as the Department of Economics. It was not just a change of the door sign, but a fundamental transformation in the very content of the discipline taught by the Department, whose main purpose was deideologization of the economic science and transition to the study of subjects based on the achievements of modern economic thought.

Currently, the Department provides teaching of Economics (Micro- and Macroeconomics), History of economic thought, Economic history.

These courses are taught on the basis of the works of the greatest economic theorists, such as A.Smith, E.Böhm-Bawerk, A.Marshall, C.Menger, F.Hayek, J.M.Keynes, J.Schumpeter, R.Coase, D.Nort, J.Buchanan, P.Samuelson, M.Friedman, R.Solow and others.

The authoring team of the Department created a fundamentally new textbook – “The Course of Economics” (editors – Prof. M. Chepurin and Prof. E. Kiseleva), which has seen 7 editions over the past 20 years and firmly occupies the first place in the ratings of major publishing companies, surveys of business literature editors, etc. In 1993, the textbook received one of the awards in the “Humanitarian studies in higher education” contest.

In addition to the basic textbook, the authoring team of the Department published a textbook named “Fundamentals of the Theory of Transition Economics” (editors – Prof. M.Chepurin and Prof. E.Kiseleva), “Practice Book in Economics”, which also saw 7 editions, textbooks of Prof. T.Timoshina “The Economic History of Russia” and “The Economic History of Foreign Countries”, textbooks by Prof. S.Ivashkovskiy “Microeconomics” and “Macroeconomics”, as well as textbooks “Economics for Managers: Micro- and Macro-levels” Fundamentally new programs of the courses “History of economic thought” and “Economic history” were developed and introduced into the educational process.

The scientific work of the teaching staff and postgraduate students of the Department is closely connected with the educational process and is aimed at understanding the theoretical and practical problems of the modern market economy: the interaction of the market mechanisms and government regulation.

Since 2009 operates ”Oeconomicus’’ – a student club headed by Senior Lecturer A. Makarenko. The club discusses on a regular basis current economic issues, history of the Russian economy, and current economic policies of the Russian government and foreign countries. The club maintains close cultural contacts with the Ministry of Foreign Affairs, as well as ties with a number of large Russian companies.

Professors, lecturers and postgraduate students of the department regularly publish monographs and articles, participate in scientific and theoretical conferences and seminars, including international ones. The Department maintains close scientific contacts with the Faculty of Economics of the Moscow State University, the E.Gaidar Institute of Economic Policy, the Institute of Economics of the Russian Academy of Sciences, the Higher School of Economics, the Expert Institute of the Russian Union of Industrialists and Entrepreneurs, etc.


Department of Economics

Prof. Olesya Ryazanova, Doctor of Economics


+7 495 225-37-28 (inner 11-26)
Room: 4006