The master’s program “Financial Management Technologies and Financial Innovations in the Public Sector” is aimed at training specialists who, first of all, have the skills to manage cash flows and financial risks as well as implement financial innovations in the public sector, and secondly, can apply economic and mathematical tools, information and communication technologies for financial management of the state, state corporations and institutions, ensuring their financial stability and long-term sustainability. It is the only master’s program in Russia at the intersection of public and corporate finance, which is partially implemented in English. It involves the study of modern financial management technologies and financial innovations and focuses on training financiers who can work equally professionally in financial authorities, state and private corporations, audit and consulting companies. The program is implemented in cooperation with the Ministry of Finance of Russia and professional certifications (ICAEW, AGA), equated in the UK and the USA to the master’s degree. Curricula of the program and syllabi are coordinated by specialists from the Ministry of Finance of Russia and the Federal Treasury. The program combines classical and innovative academic disciplines on public sector finance management, as well as disciplines based on materials from English-language professional certifications and international financial organizations. The most important component of the program is that most of the disciplines are taught in English, since a significant part of the information about financial innovations in the public sector is presented in English, with external events and shocks being the main challenges and drivers of the Russian economy. The master’s program is one of the leaders in the proportion of alumni working in key financial bodies and organizations of the Russian public sector and continuing their postgraduate studies.
Our alumni are employed by the Ministry of Finance of the Russian Federation, the Federal Treasury and other financial bodies; departments for working with public authorities of large international and domestic companies involved in implementing state programs and projects; analytical departments of the Accounts Chamber of the Russian Federation, control and accounting bodies of the subjects of the Federation, audit and consulting companies; representative offices of international financial organizations and large commercial banks, etc.
The Department of Public Finance has been training specialists for key financial regulatory authorities and organizations of the financial sector of Russia for many decades. The faculty liaise with the Ministry of Finance of the Russian Federation, the Bank of Russia, the Big Four audit companies, the largest banks, where our graduate students have internships and work.
75% of the disciplines are taught in English, using educational materials of professional certifications of Great Britain and the USA and publications of international financial organizations. English-language professional certifications are currently valued in the labor market more than the diplomas of many British universities.
Our faculty are specialists in public sector finance with foreign education, and practical experience in working at financial authorities and financial sector institutions. Such a combination of education and experience of teaching staff is a rare find even in top American universities.
The trend of the last decade is the convergence of concepts and tools of public and corporate finance management. The syllabi and textbooks focus on such dual qualifications. Our students are in demand both in the financial bodies of the public administration sector and in the financial departments of large commercial organizations, financial sector institutions and consulting.
Students are trained using new technologies of budget planning and forecasting, budget execution on the basis of the state integrated information system for public finance management “Electronic Budget”.
