Faculty of Economics and Management

İndustrial Economics

Azerbaijan State Oil and Industry University

Department of Industrial Economics 


        The department of "Economics, organization and management of industry" was established in 1920. The first head of the department was associate professor N.Dubrovsky, and in 1954-1981 the head of the department was professor AMAlibeyova.

        The department has been operating since 1987 under the name "Economics and management of the engineering industry."

The department was headed by corresponding member of ANAS, professor Akif Musayev in 1987-1999, professor Mushvig Atakishiyev in 2000-2012, professor Gazanfar Suleymanov in February 2012-2016. The department of "Industrial Economics and Management" was established on 04.02.2016 and from that time until May 2021 the department was headed by Professor Ganimat Safarov.

In July 2021, the department of "Industrial Economics and Management" was renamed the Department of "Industrial Economics". Since then, the department is headed by Professor Arif Alakbarov.

        At present, the department has 26 employees, including 2 professors, 9 associate professors, 1 head teacher, 1 teacher, assistant, phd-4 people, assistant-3 people, laboratory assistant-6 people.

In the department specialists are trained in “Business Administration”, “Economics” and “International Trade and Logistics”.

        "Business management" - learns to participate in market segmentation using related subjects such as management, marketing, economic regulation, international and domestic establishment and development of business, economic evaluation of investment, international law, business process analysis and the use of econometric methods for this purpose.

Achieved competence of specialists trained in the specialty "Business Management":

-establishment and development of international and domestic business;
     -economic evaluation of investment;
    - business process analysis and use of econometric methods for this purpose;
    - to participate in market segmentation using related subjects such as   management, marketing, economic regulation.

        Specialists trained in "Economics" specialize in economic processes in the world and in the country, different industries and sectors of the economy, economic evaluation of various types of business projects, analysis of foreign economic activity, decision-making in management and administration, digital economy and information and communication technologies. , studies research and their economic justification, project evaluation, application of econometric models to the economy, analysis of economic indicators of the enterprise and their successful decision-making.

       Achieved competence of specialists trained in "Economics":

   - mastering the production process of industrial enterprises,
  - organization and management of production in industrial enterprises,
  - economic evaluation of projects,
  - basics of accounting and auditing,
  -analysis of production and economic activity of the organization (enterprise),
  -management of material, labor and financial resources,
  -building a business plan,
  -preparation and analysis of economic, financial and financial reports in the          
  - basics of economic regulation,
  -  economic justification of innovation projects,
  -use of information and communication technologies and econometric methods in economic reports.
        The main purpose of international trade and logistics is to study international markets, trade and especially international cargo transportation in a globalized world, to train personnel who are able to apply this knowledge in various areas of business (international relations, logistics departments).


        Achieved competence of specialists trained in "International trade and logistics"

-in-depth knowledge of economics and commercial subjects;
- work with information on international economy;
- technological literacy, language skills.
- Ability to implement projects, research skills;
- general business literacy, communication skills, stress tolerance, initiative, ability to present results, be responsible.


The department carries out research work by the state budget.