The university traces its roots to March 2nd, 1919 when
Moscow Institute of Finance and Economics was established
with Dmitriy P. Bogolepov being appointed as the first rector.
The main goal of the MIFE was to provide Bolshevik financiers
with a six-month course. Later the structure of the university
was changed and a three-year education at 2 faculties
(pedagogical and administrative) was offered to the learners.
It is worth mentioning that the institute was founded in the
epoch of revolution. In comparison to other Soviet universities
it had neither financial resources nor methodology foundation
of some pre-revolutionary educational institution. It was one
of the first attempts of Bolsheviks to create a brand-new
educational institution, which would embrace new goals and tasks.
May 25th, 1930 Dmitriy A. Butkov became the Head of MIFE.
In 1933-1934 MIFE was moved to Saint Petersburg, merging with
the Leningrad Financial Economic Institute.
In 1931 Moscow Accounting and Economic Institute of the USSR
State Bank was established. Due to a number of controversies
between the State Bank and the Commissariat of Finance In 1934
it was decided to reorganise it into Moscow Credit and Economic
Institute under control of the State Bank. Mikhail I. Shershonov
became the first director. MCEI was supposed to train future
economists, financiers with the theoretical and preactical
knowledge in the sphere of credit planning, money circulation,
and analysis of trading plans. At the beginning of the 1940-s the
institute moved to a new building on Kibalchicha Street, which
still opens its doors to the students of the Financial University.
In October 1941 due to the Great Patriotic work all classes were s
topped at both universities. MCEI later was evacuated to Saratov.
After the Battle of Stalingrad in August 1943 it was decided to
move the institute back to Moscow.
MFEI, which was still the part of LFEI and was evacuated to the
Northern Caucasus, Essentuki, where 130 young specialists got
their diplomas in 1942. In 1942 the institute became independent
and ten years after the merger it was returned to Moscow.
Academic Board was established in March 1944, which consisted of
Both universities remained small, but they had the same goal –
to prepare financiers for future reconstruction of the national
economy of the USSR. The same professors were teaching at these
universities, thus creating prerequisites for the future big merger
into the Moscow Financial Institute.
September 17, 1946 MFEI and MCEI were merged by the
degree of the Soviet government. The main reason for the
merger was the acute lack of economists and financiers in
Despite postwar hardships the institute was flourishing
The first year of 1946/1947:
Students – 1431 people
Graduates – 52 people
Teachers – 129 people, of those 42 had a PhD degree.
First Faculties: Financial and Economic,
Credit and Economic, Accounting and Economic,
International Economic Relations.
From September 20, 1947, by the degree of the government,
the military department was organised to prepare
Officers for the Financial Department of the highest rank.