Our history
The Institute of Economics, which has made great contributions to the development of economic science in Azerbaijan, has passed a very honorable historical development path. The Institute of Economics was established on April 14, 1958 by the decision of the Council of Ministers of the Azerbaijan SSR on the base of the Economics and Geography sector, which was previously organized in 1935 under the Azerbaijan branch of the USSR Academy of Sciences, and the Economics sector, which operated under the Azerbaijan Academy of Sciences since 1945. During the years of independence, it continued its activities as an institute of ANAS.
By the Decree of the President of the Republic of Azerbaijan “On Some Measures Related to Improving Management in the Field of Science and Education in the Republic of Azerbaijan” dated July 28, 2022, the Institute of Economics of ANAS was placed under the subordination of the Ministry of Science and Education of the Republic of Azerbaijan.
When the institute began its activities (1958-1960), its structure consisted of 5 departments - "Political Economy and Economic Thought", "Industrial Economics", "Agricultural Economics", "Localization of Socialist Production" and "History of the National Economy". In the following periods (1961-1965, 1966-1970, 1971-1985, 1986-1990), the scientific research work carried out at the institute, taken as a whole, was aimed at fulfilling the important economic problems and state tasks of those periods, determined by the governments and state bodies of the former Union and the Republic.
One of the most important aspects characterizing the level of scientific research carried out at the Institute of Economics in the 1970s and 1980s is that during this period, 23 scientific results of the institute's employees were evaluated by the Presidium of the Academy of Sciences of the former USSR as the most important achievements of Soviet science and included in the Report of the Presidium of the Academy of Sciences of the USSR.
Along with Azerbaijan's independence on October 18, 1991, the transition to a market economy marked as the beginning of a new stage in the development of our country's economy and economic science, and also set tasks for the Institute of Economics in line with the requirements of the new era. During the years of independence, the Institute of Economics carried out successful and significant scientific research works in the direction of the formation and development of the independent national economy of Azerbaijan, and rendered important services in the training of professional national personnel and economists.
More than 900 Ph.D. scientific degrees and more than 100 doctoral dissertations have been defended in the Specialized Doctoral and Candidate Dissertation Councils operating at the Institute for many years. Published more than 1,500 monographs and books.
On October 18, 2018, the 60th anniversary event of the Institute of Economics was held in the main building of ANAS. The meeting was attended by members of the Government and Milli Majlis, heads and employees of institutes of ANAS, rectors of higher education institutions, well-known economists, and guests from foreign countries - China, Georgia, Ukraine, Kazakhstan, Russia and Kyrgyzstan.
By the Decrees of the President of the Republic of Azerbaijan dated October 16, 2018, 7 employees of the Institute of Economics - 5 of them were awarded with the "Honorary Diploma of the President of the Republic of Azerbaijan" and 2 of them were awarded with the "Progress" medal for their services to the development of economic science. In addition, about 20 more employees of the Institute were awarded with the "Honorary Decree" of the Department of Social Sciences of ANAS, taking into account their productive scientific activities.
Professor Pei Changhunga of the Institute of Economics of the Chinese Academy of Social Sciences, Professor Vladimer Papava an Academician of the Georgian National Academy of Sciences, and Professor Inna Shteinbuka of the University of Latvia are Honorary Doctors of the Institute of Economics.
At the Institute of Economics of the Ministry of Science and Education has 12 scientific departments, 1 scientific center, as well as 1 administrative department:
Department of “Theoretical Basis of Economic Policy”
Department of “Problems of Monetary and Fiscal Regulation”
Department of “Economic Problems of the Agricultural Sector”
Department of “Problems of Industrial Policy and Investment”
Department of “Problems of Demography and Employment”
Department of “Regulation of Foreign Economic Activity”
Department of “Regulation of the Business Environment and Development of Entrepreneurship”
Department of “Innovative Economy and Digital Transformation”
Department of “Inclusive Social Development”
Department of “Problems of Regional Development and Use of Natural Resources”
Department of “Economics of the Service Sector”
Department of “Mathematical Support of Economic Research”
Scientific Center:
Scientific Center for Post-Conflict Territories Rehabilitation
Administrative Departments:
Department of Public Relations
Department of Education
Department of Human Resources
Department of Work with supply and documentation
Accounting
Library
The main directions of the Institute's activity are fundamental researches of the problems of socio-economic development of the independent national economy of Azerbaijan, problems of macroeconomic development.
The Institute of Economics, is one of the main centers of fundamental and applied economic research in Azerbaijan, had a scientific research direction in 2024 - 2025 - on "Directions for the implementation of national priorities of socio-economic development in Azerbaijan in the medium and long term". In 2026-2027, scientific research will be carried out on "Directions for the structural transformation of the economy of the Republic of Azerbaijan".
The Institute of Economics participates in the preparation and implementation of various state programs, is included at the expert level in various working groups established by government agencies. The Institute's scientists are represented in the working groups of the Interdepartmental Center under the Coordination Headquarters for the centralized resolution of issues in the liberated territories of the Republic of Azerbaijan, established by the Decree of the President of the Republic of Azerbaijan dated November 24, 2020.
In 2015-2025, 91 monographs, 2064 scientific articles, including 604 of them published abroad (219 of them published in journals with impact factors) were published by scientific staff regarding the results of scientific researches conducted at the Institute. 90 Doctor of Philosophy and 13 Doctor of Sciences’ dissertations were defended at the Dissertation Council of the Institute of Economics.
There are 163 employers in Institute of Economics. 2 of them are the corresponding members of ANAS, 21 of them are doctors of sciences, 48 are doctors of philosophy in economics, and 44 are scientific researchers.
From 1958 to 1964, the Institute of Economics established its director was H.T. Huseynov, Ph.D in Economics; from 1964 to 1989, was academician A.A. Mahmudov; from 1991 to 1998, was corresponding member of ANAS A.K. Alasgarov; from January 1999 to June, 2008, corresponding member of ANAS, Doctor of Economics, professor Sh.M. Muradov; from June, 2008 to May, 2014, was Doctor of Economics, professor I.H. Aliyev. Since May, 2014, the Institute has been headed by Doctor of Economics, professor Nazim Muzaffarli (Imanov).
