Faculty of Economics and Management

İndustrial Economics and management

Azerbaijan State Oil and Industry University

Department of Industrial Economics and Management

    “Department of Economics, Organization and Management of Industry” was established in 1920. The first head of the department was PhD N.Dubrovski, and in 1954-1981 professor A.M.Alibayova led the department. Then S.Agayev was the head of the department. The department had been operating under the name of Economics and Management of Engineering Industry since 1987.

         In 1987-1999, corresponding member of ANAS, professor Akif Musayev, 2000-2012 professor Mushfig Atakishiyev, till February, 2012-2016 professor Gazanfar Suleymanov led the department.

         In accordance with the order № 04.151 dated 03.02.2016 by the rector of ASOIU, on the basis of the Department of Economics and Management of Machine-Building Industry, the Department of “Industrial Economics and Management” was established in 04.02.2016. Since that time, Professor Ganimat Safarov has been the head of the department.

         In the department, such disciplines as “The history and methodology of the World economy, “Modern problems of international economic relations”, “International Finance”, “Tax system”, “International Business”, “Accounting and Audit”, “Economics and Management of Production”, “Macro and Microeconomics”, “World Economy”, etc. are taught at bachelor and master’s level.

         The department carries out Scientific research works on various areas of industry. For the last 5 years, 140 scientific articles, 5 monographs, 4 textbooks and discipline programs have been published in this direction.

         Presently, the department has 26 employees, including professor-1, assistant professor-10, senior lecturer-1, teacher-1, assistant, doctor of philosophy on Economics -3, assistant -2, assistant teacher, doctor of philosophy on Economics- 1, assistant teacher -7.

         The department trains specialists on such specialties as  “Business Administration”, and “Economy”.

“Business Administration” studies how to participate in market segmentation using such close disciplines as construction and development of international and domestic business, economic evaluation of investment, international law, business process analysis and using econometric techniques for this purpose, management, marketing and economic regulation.

a) Disciplines taught to bachelors on the specialty “Business Administration”:

- Introduction to Economics;

- Microeconomics;

- Macroeconomics

- World economy;

- Statistics;

- Accounting;

- Audit;

- Taxes and taxation;

- Human resources management

- Project management;

- Business ethics and social responsibility;

 - Business Administration;

- International Business;

- Cooperative management;

- Business Security;

- International Economic Relations;

- Business Infrastructure;

- Business activity analysis;

- Financial Management;

- Business management;

- The economy of a company;

- Business Project Management;

- Technical foreign language

b) Specialists’ acquired competence trained on the specialty “Business Administration”

- construction and development of international and domestic business;

- economic evaluation of investments;

- international law;

- business processes analysis and using econometric techniques for this purpose;

- Participation in market segmentation using such closedisciplines as management, marketing, economic regulation.

c) A specialist trained within the specialty “Business Administration” works in the following areas:

- Business-analyst in the energy market;

- Financial investment analysis of international oil and gas projects;

- International oil and gas market and oil products marketing;

- Management of international oil and gas contracts;

- Oil and gas trading;

- Management of the International oil and gas Corporation;

- Strategic management;

- State regulation of the power engineering sector and energy policy.


Specialists trained on the specialty “Economics” studyeconomic processes going on in the world and country, individual industries and sectors of the economy, economic evaluation of various styled business projects, analysis of foreign economic activity, decision making in management, digital economics and information-communication technologies, scientific research development and their economic grounding, project evaluation, application of econometric models to the economy, analysis of economic indicators of an enterprise and making successful decisions.

a) Disciplines taught to bachelors trained on the specialty “Economics”:

- Introduction to Economics;

- Microeconomics;

- Macroeconomics;

- Econometric;

- World economy;

- Azerbaijan economy;

- Statistics;

- Accounting;

- Audit;

- Finance;

- Banking;

- Taxes and taxation;

- Management;

- Marketing;

- Human resources management;

- Economic Informatics;

- Business correspondence;

- The economy of the environment;

- Economy of social spheres;

 - Economy of a company;

- Agrarian economy;

- Cost and cost formation;

- Economic law;

- Economic regulation;

- History of economic thinking;

- Financial Management;

- Production organization and management;

- Strategic planning and management;

- Technical-economic analysis;

- Evaluation of investment projects;

- Modern strategic analysis.

b) Specialists’ acquired competence trained on the specialty “Economy”

- mastering the production process of industrial enterprises;

- organization and management of production in industrial enterprises;

- economic evaluation of projects;

- fundamentals of accounting and audit;

- analysis of the production economic activity of an organization (enterprise);

- management of material, labor and financial resources;

- business plan development;

- compilation and analysis of economic, financial, and labor reports at the enterprise;

- fundamentals of economic regulation;

- economic grounding of innovation projects;

- the use of information-communication technologies and econometric techniques in economic reports.

c) A specialist trained within the specialty “Economics” works in the following areas:

- in industrial enterprises: departments of economics, forecasting, personnel management, finance, accounting, marketing;

- in research institutes: departments of economic evaluation of projects and other departments related to economics;

- business analyst in the energy market;

- international economic cooperation;

- international currency-credit organizations;

- international business and tourism;

- international management and oil and gas trading;

- international oil and gas management;

- power engineering sector;

- logistics and sales;

- risk management.

  1. The department carries out research work on “Development of innovative development strategy of industries”. The research work on “Mechanisms for the development of innovative development strategy in industries” is carried out for 2019.
  2. The department has prepared 27 articles for the 2018-2019 academic year and submitted them to various journals, including SCOPUS.
  3. The department has published 2 textbooks for the 2018-2019 academic year.
  4. The department prepares a textbook (“Introduction to Economics”).
  5. Assistant of the department - Sabina Sabir Sadigova defended her dissertation for the degree of Philosophy Doctor on Economics in 2018.
  6. Having defended her dissertation in 2018, Narmin Jafarova was honored with Doctor of Philosophy academic degree on economics.
  7. Three employees of the department, assisstant professors: Samira Mammadova, Akima Akhmedova, Saadat Zeynalova, assistant, p.d.e. Zaur Asadov are working on their doctoral thesis on economics.
  8. One assistant of the department (Rana Mammadova) and 1 assistant teacher (Jale Muradova) are working on their doctoral thesis on economics.