History of the Financial University

Moscow Institute of Finance and Economics (1919-1934)

The first campus on Tversky Boulevard, 12

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.

Moscow Credit and Economic Institute (1934-1946)

The second campus on Babushkinskiy pereulok

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 18 professors.

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.

Moscow Financial Institute (1946-1953)

The first campus on Tversky Boulevard, 12

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 the country. Despite postwar hardships the institute was flourishing rapidly.

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.