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The Department of Finance and Financial Management

The Department of Finance and Financial Management was established in the beginning of 2004 on the basis of the Department of Finance, which was founded in 1965. It is the basic department at the School of Finance and Banking.

Its Chairs had been:

  • 1965-1971 – Associate Prof. M. Tkachuk;
  • 1971-1982 – Associate Prof. N. Panin;
  • 1982-1987 – Dr. hab., Prof. M. Tkachuk;
  • 1987-1992 – Dr. hab., Prof. M. Fisenko;
  • 1992-2004 – Dr. hab., Prof. N. Zayats.

In May 2004 Dr. hab., Prof. Grigori Kobrinski who is a member of the Belarusian Engineering Academy, became the Chair of the department. Prof. Kobrinski's main interest is exploring the issues of enterprise financial stability. He is the author of 56 scientific publications including manuals and monographs. Besides, he supervised two successful PhD thesis.

The department faculty comprises 17 teachers including 4 professors, 9 associate professors and 4 assistant lectures (academic year 2004/2005).

The department annually trains up to 300 finance economists for financial and taxation institutions. Since 1989 it has been training specialists for the Gosstrah units. Many of the department's alumni now hold high economic positions in the Republic of Belarus and abroad.

In academic year 2004/2005 the department faculty have been giving lectures and practical classes in the following disciplines:

  • Introduction to Specialty (V. Bas, M. Pilipeyko, V. Petrushkin);
  • Enterprise Finance (G. Kobrinski, T. Vasilevskaya, T. Bondar, V. Petrushkin, V. Bas);
  • Taxation Theory (N. Martynenko);
  • Taxes and Taxation (L. Leutina);
  • Insurance (M. Zaytseva, M. Pilipeyko);
  • Finance Theory (M. Fisenko, V. Yakubovich, V. Petrushkin);
  • Financial Management (G. Kobrinskiy, V. Anosov, A. Kurlypo);
  • Financial Control and Auditing ( N. Martynenko );
  • Bond Market (Ye. Sheleg);
  • Accounting at Insurance Institutions (M. Pilipeyko);
  • Control at Insurance Institutions (M. Pilipeyko);
  • Finance (T. Bondar);
  • Financial and Credit System Development History (A. Levkovich, A. Sidorova).

In academic year 2004/2005 the department established a new specialization, Financial Management. The specialization envisages updating and developing some new disciplines like Crisis Financial Management, Controlling, Financial Analysis, Corporate Finance, etc.

Great scientific potential enables the department faculty conduct successful scientific research. Most professors and faculty annually work on exploring scientific themes ordered by the Republican Council for Fundamental Research, the Ministry of Finance, the Ministry of Education of the Republic of Belarus and other ministries and authorities as well as enterprises. Most of their suggestions and recommendation are put into practice, they are implemented within the “State Program for Insurance Sector Development in the Republic of Belarus in 2001- 2005” , approved by the Council of Ministers of the Republic of Belarus (designed by M. Pilipeyko). They were taken into account by the legislative branch while developing the following laws: “On Budget” (authors T. Sorokina, T. Vasilevskaya), “On Auditing Activities”. Besides, they were taken into consideration when developing the Taxation Code of the Republic of Belarus and some instruction materials. Moreover, they have been put into the teaching process.

The department's directions of scientific research are:

  • Theory and practice of financial management in the economic conditions of the Republic of Belarus ;
  • Developing the financial mechanism in transitional economy;
  • Developing the mechanism of the tax system unification in the Republic of Belarus ;
  • Establishing priorities and concepts of the state financial policy in transitional economy;
  • Updating the pension fund schemes in the Republic of Belarus ;
  • Developing price formation mechanism in the educational sphere;
  • Developing methods of short and long-term planning and financial estimates for business plans of economic entities;
  • Enterprise Finance.

In their scholarly and research work the department faculty aim at training scholars, doctoral and post-doctoral students as well as developing and publishing up-to-date manuals and study guides.

In pursuance of the BSEU Academic Council decision, in the beginning of 1994 the department worked out the Plan of Facultying Support for Educational Process and Scientific Activities till 2005 that envisages training faculty through master's, doctoral and post-doctoral courses. It includes teaching computer facilities and technologies to the faculty members which may be necessary for their job.

The department has established and operates a system for training scholars of higher qualification with up to 10 master's students and about 40 doctoral students and degree seekers. Those who successfully completed the above course are now among the scientists and teachers of BSEU and other higher educational establishments of Belarus.

During the recent 5 years (1999-2004) the department prepared 15 doctoral students and 3 post-doctoral students who successfully defended their theses.

Students of the School of Finance and Banking take active part in scholarly work and research. They prepare reports on topical issues of financial mechanism development, research papers and appearances in the disciplines they are study, participate in scientific and practical conferences, “round tables”, meetings and carry out research financed from both budget and commercial sources. During the recent 5 years over 150 students guided by the department faculty won prizes at students' scientific competitions.

Another form of students' scientific activities is their diploma theses. The topics of diploma theses are chosen in compliance with guidelines of the related ministries and practical training bases for under-graduate students. Moreover, suggestions and recommendations made in diploma theses are summarized to use in the department's scholarly and research work.

The department's main publications are:

The department has been maintaining active contacts with many economic ministries, agencies, enterprises, educational establishments and research organizations of Belarus , the CIS and far abroad countries for many years. They cooperate with the Ministry of Finance of the Republic of Belarus , Belgosstrah, Belarusian Insurance Union, the Russian Financial Academy and universities of Surrey ( Great Britain ) and Ontario ( Canada ). The school's students have an opportunity to attend classes in their major disciplines delivered at BSEU by professors from educational establishments of Europe, the USA and Asia as well as to get education (alongside with studies at BSEU) abroad in the framework of students' exchange programs.

It is a graduating department for specialty 1-25 01 04, Finance and Crediting (specializations Finance, Insurance and Finance and c rediting in foreign e conomic a ctivities).

Address: 26 Partizanski, Bldg 1, room 904
Minsk , Republic of Belarus
Tel./fax : +375 17 249-41-35
249-82-08 – Secretary, methodologist
249-40-34 – I. Kozlova, Deputy Dean
E-mail: fbd@bseu.by
© Belarus State Economic University
26, Partizanski Av, Minsk, 220070, Republic of Belarus
Tel.: (+375 17) 209-88-32; tel./fax: (+375 17) 296 23 66
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