Department of Economics

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About Us

EUSP Department of Economics is one of the few places in Russia providing MA-level economic education on par with international standards. The course curriculum developed in the Department has its roots in 1992 when a set of modern economics courses would be regularly taught to graduates in St.Petersburg by a group of local specialists of international standing. Since 1996 the Department of Economics has built upon the previous work of its staff by expanding and launching its MA-level programmes in economics, doing its utmost in complying with the best traditions in high-quality economic education of Europe and the US.

About Our MA Progammes

The Department has been continuously updating and revising its educational programme in line with latest tendencies and developments in economic science and demands of the labour market.  In that respect valuable advice is provided by the International Advisory Board of the Department consisting of world-class academics. In recent years, the Department has also been actively enlisting help in teaching and research activities from researchers representing leading Western research centres and universities. Our MA Programmes in Economics and Finance are absolutely top-notch in Russia!

About the Faculty

The Department ensures high-quality education through a thorough selection process of the faculty who have among them 5 Doctors of Science (Rus.), 9 Candidates of Science (Rus.), 4 professors with PhD degrees from Western universities. All our lecturers and researchers are constantly involved in various research projects, frequently attend international conferences and often visit universities and research centres outside Russia. From time to time we also host visiting faculty from universities in Europe, Israel and Australia.

About Being a Research University in Russia

We are convinced that teaching modern advanced courses in economics is impossible without active academic work in parallel, so our faculty is engaged in research projects focusing on issues of macroeconomic policy, economic growth and development, game theory, econometrics, natural resources economics, etc. At the same time, studying economics is impossible without students’ own research efforts, so that our MA programme includes several different research projects on which students work under the guidance of or, in some cases, alongside the faculty members. For Russia implementing the concept of "research university" is still rather new, and we pride ourselves in being one of a few pioneers in that respect!

About Where We Stand Vis-à-vis Our Competitors

According to the data of the Russian Ministry for Education and Science, EUSP ranks 4th among Russian universities by average income of its graduates (2015). The Vladimir Potanin Foundation places EUSP 8th in its annual rankings (2015) of Russian universities by concentration of talants supported by the Foundation. In 2014 two students of the Department of Economics were awarded the prestigious scholarship by the Foundation.

Besides, according to research done by The University Times, an Internet portal, in 2012 the Department of Economics was among the top two leading institutions of higher economics education in the city of St.Petersburg. We have also consistently made it to the top 10 of best Russian centres in economic research according to RePEc.

About 30% of our alumni have already received either PhD degrees from leading Western universities or Candidate of Science degrees from prestigious Russian institutions; others are still on their PhD track. Judging by these statistics alone, we currently are among true leaders in economic education in St.Petersburg and Russia!

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Events Calendar



Next Public Event




Most Recent News

The World Bank Russia Economic Report #34

Balancing Economic Adjustment and Transformation


BHansl smPresenter: Birgit Hansl, Lead Economist for Russia



Where: Conference Hall

When: 8 October, 6:00pm




Invitation to publish in EUSP WP Series

The EUSP Department of Economics invites submissions from authors not directly affiliated with EUSP for publication in its working paper series.


9 September 2015 - The Vladimir Potanin Foundation has published its annual rankings of Russian universities. EUSP occupies the top 8th position in the country. An excellent result as it is last year we were in top-2. The lowering in rankings this year is due to a lower number of our students and lecturers who applied for the financial support from the Foundation. We look forward to improving our score in 2016!

Department News

For the archived news from previous years please consult this page.


9 September 2015 - The Vladimir Potanin Foundation has published its annual rankings of Russian universities. EUSP occupies the top 8th position in the country. An excellent result as it is last year we were in top-2. The lowering in rankings this year is due to a lower number of our students and lecturers who applied for the financial support from the Foundation. We look forward to improving our score in 2016!


1 September 2015 - According to the recent data from the Russian Ministry of Education and Science, EUSP ranks 4th in the country by average income of its graduates. This news will surely be welcomed by EUSP students and applicants to its MA programmes!


1 September 2015 - Maxim Bouev, Head of the Department, gave two interviews to the St.Petersburg Vedomostit.Petersburg Vedomosti (in Russian), the main local daily, and the BBC Russian Service (in Russian). He expressed his views on current developments in the Russian economy and the recent devalution of the ruble.


10 June 2015 - EUSP hosted a very interesting master-class (the links is in Russian) about career building in the financial industry. The event was organised by the Department of Economics in collboration with Changellenge, Moscow Exchange and VTB24 bank.


9 June 2015 - Yulia Vymyatnina (BP Professor of Economics), and Dmitry Didukh (1st year student) gave a lecture "How Crypto Currencies Affect the Economy" at the IT bar KL10CH. The file with the presentation is available here (in Russian).


8 June 2013 - Kirill Ilinski (Fusion AM, London) gave his last topical seminar in the series on modelling in finance. The course had run since May 2012. The last lecture was called "Arbitrage - A Vicious Passion" and attracted huge interest: it was attended by many industry professionals from St.Petersburg and Moscow, who stayed in the city after two yearly conferences InvestFunds and the so-called "Anti-public Options Conference" (please see the previous news entry below). Kirill Ilinski should be back at EUSP in Autumn 2015 in order to give another seminar, bringing together all the threads touched upon in his modelling course over the last 3 years.


4-6 June 2015 - Maxim Bouev, Head of the Department, took part in two important events notable in the Russian financial industry's life: Investfunds Forum VI - a conference for institutional investors, organised by CBonds (a financial info agency), and the XI International Conference «Theory and Practice of Derivatives Trading» (aka the "Anti-public Options Conference").


4 June 2015 - LektoriumTV has added videos of the lectures by Laurence Kotlikoff (Boston University, USA), that he gave at EUSP on 21 May 2015. The videos are also available from the Video Archive.


3 June 2015 - EUSP continues to collaborate with the New Economic School (NES) in Moscow: this week the Department of Economics hosted a seminar by Valery Charnavoki, NES professor, who spoke on Business Cycles and Monetary Policy in Countries Exporting Natural Resources.

Contact Us


Contacts for mass media:

Kirill Borisov, Professor of Economics
macroeconomics, development and growth, pension systems, energy dependence
Maxim Bouev, Professor of Applied Finance, Head of the Department
labour markets, informal economies, corruption, international finance, financial markets, derivatives, economic crises
Yulia Vymyatnina, British Petroleum Professor of Economics
macroeconomic policy, banks, central banks, monetary policy, energy markets, customs union (Russia-CIS countries)



Department of Economics
European University at St. Petersburg
3 Gagarinskaya Street
St. Petersburg, 191187

Tel. +7 (812) 386 76 32

Department Administrator: Elena Koltsova
Project coordinator: Lina Korotkova