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NES DELIVERS UP-TO-DATE ECONOMICS RESEARCH AND EDUCATION, MAKING A VALUABLE CONTRIBUTION TO THE RUSSIAN SOCIETY, STATE AND BUSINESS 2021 New Economic School NES MISSION «NES does not rest NES delivers up-to-date Economics research and education, making on its laurels». a valuable contribution to the Russian society, state and business.

NES nurtures a community of world-class economists in Russia by:

• educating the best professionals in Economics in line with international standards

• inviting academic talent from all over the world, including bringing Russian economists back home RUBEN ENIKOLOPOV Rector of the New Economic School • creating and supporting international research groups Full Professor • conducting internationally competitive research NES alumnus, MAE’2002

• boosting quality and prestige of Economics degrees

The New Economic School has been a lead- • shaping new approaches to economic challenges er in economic education and research in

Russia for many years. NES professors hold • helping the state institutions and businesses make managerial PhD degrees in economics and finance from decisions and shape their economic policies the world’s leading universities and publish

their research in the world’s best academic • contribute to the Russian economy by delivering quality education journals. NES graduates are highly valued in in Economics and Finance as well as by carrying out applied and various fields: business, the public sector and academic research projects academia.

NES does not rest on its laurels. The development strategy adopted this year defines our priorities for the next five years: strengthen- ing the School’s unique community, moving NES VALUES to our own campus, transition to a full cycle university by launching a PhD program, fur- ther development of the undergraduate and Professionalism master’s degree programs, and ensuring the financial independence and sustainability of Responsibility the School.

I am confident that the fulfillment of these Mutual respect ambitious goals will strengthen the leading positions of NES in the development of Rus- Integrity sian economic science and education. www.nes.ru New Economic School RANKINGS

1st place among Russian universities by the number of publications in leading international journals of economics and finance, according to the Tilburg University Ranking 1st place among Russian universities by the number of citations per one scientific publication, according to QS Rankings

2nd place place in Russia according to the Shanghai Academic Ranking of World Universities (ARWU), in Economics

1st place in the «Rating of Demand for Universities in the Russian Federation» among universities in the field of management, represented by the “Russia Today” project, “Social Navigator”

1st place in the Changellenge rating for student satisfaction with the quality of education

4 5 www.nes.ru New Economic School CONFERENCES

MARTA NES professors take part in major TROYA-MARTINEZ international research conferences:

Assistant Professor of Economics

• Annual meeting of American Economic Association (AEA) and American Finance Association (AFA) within the Annual Inter- national Conference of the Allied Social Science Associations (ASSA)

Congresses of the European Economic Association (EEA) and the European Financial Association (EFA)

National Bureau of Economic Research (NBER) meetings

“International conferenc- Center for Economic Policy Research (CEPR) meetings es are an essential part of Conferences of the Society for Financial Studies (SFS) academic life. They provide a great opportunity to get feed- Conferences of the Western Financial Association (WFA)

back on our own research, Conferences of the Financial Intermediation Research Society but also to learn about the (FIRS) latest research developments and to stay connected with the international scientific community.” NES is the first Russian university to hire professors internationally. Over 200 people a year apply for positions at NES. Candidates are interviewed at the annual meeting of AEA and AFA within the Annual International Conference of ASSA. The best candidates are invited to present their research at the Job Market Seminars at NES.

More than 90% of NES professors hold a PhD degree from the world’s leading universities such as Harvard, Oxford, Columbia Uni- versity, Massachusetts Institute of Technology, London Business School, University of California, Berkeley.

6 7 www.nes.ru New Economic School PUBLICATION SELECTED PUBLICATIONS ECONOMETRICA MARKETING SCIENCE NES professors have their papers published in the world’s Ruben Enikolopov, Maria Petrova Daria Dzyabura 2020 coauthor: Alexey Makaryn 2020 coauthors: Liu Liu, Natalia Mizik best academic journals: “Social Media and Protest Participation: “Visual Listening In: Extracting Brand Image Evidence from Russia“ Portrayed on Social Media“

TOP 8 JOURNALS IN ECONOMICS AND FINANCE:

There are two social media mechanisms The new “visual listening in” method in social inducing protest activity while the number of media changes the approach of measuring social media users influence the origin and user content and opens new opportunities the scale of protests. for marketing managers.

THE JOURNAL OF FINANCE THE AMERICAN ECONOMIC REVIEW Hosny Zoabi Andrei Markevich 2019 coauthors: Moshe Hazan, David Weiss 2018 coauthor: Ekaterina Zhuravskaya “Women’s Liberation as a Financial “The Economic Effects of the Abolition of Innovation” Serfdom: Evidence from the Russian Empire”

Granting women property rights in the US in The abolition of serfdom in the Russian the 19th century greatly broadened financial Empire in 1861 led to significant growth in market value and accelerated industrialization agricultural productivity, industrial develop- and economic growth. ment and peasant’s living standards. HOSNY ZOABI MARIA PETROVA SAFMAR Associate Professor Banking Group «Alfa-Bank» Associate with tenure professor of Economics

8 9 10 www.nes.ru 2016 2018 Empirical Hypotheses” “Market Microstructure Invariance: Kylecoauthor: Albert Anna Obizhaeva ECONOMETRICA sizes, and transaction costs. (“market velocity”), the distributionof bet specific predictions for thearrival rate of bets calibrated from structural estimationimply per unitof business time. The constants are constant across assets when measured risk transfers (“bets”) and transaction costs ofdistributions hypotheses thatthe as the Market microstructure invariance isdefined Market Power” “Smooth Trading with Overconfidence and Kyle,coautors:Albert Yajun Wang Anna Obizhaeva STUDIES THE REVIEW OF ECONOMIC cantly affects theproperties of liquidity. minimize transaction costs, which signifi- their orders into multiple trades inorder to Traders usemodern trading platforms to split

2015 2016 icant role init. coup, andradio broadcasting played asignif a collapse of democracy without amilitary 1930s was the mostprominent example of The riseof the Third Reich inGermany in the Germany” “Radio and the Riseof the Nazis inPrewar Ekaterina Zhuravskaya coauthors: Maja Adena, Veronica Santarosa, Ruben Enikolopov andMariaPetrova, OF ECONOMICS QUARTERLYTHE JOURNAL Experiment in Afghanistan” Experiment Theory andEvidence from aField “Electoral Rules andPolitical Selection: Fotini Christia,Georgy Egorov Ruben Enikolopov, coauthors: Andrew Beath, STUDIES THE REVIEW OF ECONOMIC ment from Afghanistan. icy which isproved by auniquefield experi- outcomes as well as the quality of their pol- position of representative bodiesandpolicy affectmediate com- thistrade-off the and Electoral rules,suchasdistrictmagnitude,

2012 research.” on thecuttingedge ofmodern means thattheirprofessors are research level. For students, this best evidence oftheSchool’s high in economics andfinance are the in theworld’s leadingjournals “Publications by NES professors MIKHAIL DRUGOV “Innovation andForeign Ownership” Catherine Thomas Olga Kuzmina , coauthors: Maria Guadalupe, REVIEW ECONOMICTHE AMERICAN market share. vation leading to higher productivity and conduct more product andprocess inno- tive domesticfirms, which,onacquisition, Multinational firmsacquire themostproduc Academic Affairs tenure, Deputy Vice-Rector for ProfessorSAFMAR Associate with -

2011 for opposition parties. party andincreasing the percentage of votes results by decreasing supportfor the ruling ernment, cansignificantly influence election media, which isindependentfrom the gov mentary elections inRussia show that mass The electoral outcomes of the 1999parlia- Evidence from Russia” “Media andPolitical Persuasion: coauthor: Ekaterina Zhuravskaya Ruben Enikolopov andMariaPetrova REVIEW ECONOMICTHE AMERICAN New Economic School - 11 www.nes.ru New Economic School RESEARCH

NES is a research university with access to global expertise in economics. NATALYA VOLCHKOVA

NES professors are engaged in research both independently as well as within Senior Lecturer, Director of the Center scientific labs and research centers, such as: for Economic and Financial Research (CEFIR) at NES

CENTER FOR ECONOMIC “CEFIR at NES has by now AND FINANCIAL RESEARCH CSDSI NES completed over 250 projects. (CEFIR) AT NES The world economic community highly appreciates the quality CEFIR at NES is an important tool for fulfilling Focuses on research into the theoretical and the mission of the New Economic School in empirical aspects of social interaction in a het- of the Center’s research which is promoting the economic and social develop- erogeneous society (such as in Russia) with ment of Russia. various types of cultural, ethnic, geographic, confirmed by leading positions CEFIR researchers use modern scientific religious, genetic, economic, historical and re- in national and international methods to analyze economic and social pol- gional diversity. icy measures, on the basis of which they of- rankings as well as the wide fer ideas and recommendations to Russian use of its expertise by Russian authorities and businesses. CEFIR performs research for the Russian Central Bank, the CHINA-RUSSIA EURASIAN STUDIES CENTER government and business.” Accounts Chamber, the Ministry of Econom- (CREC) ic Development, the Ministry of Finance, etc. Opened in collaboration with the Hong Kong Recent research for the corporate sector in- University of Science and Technology (HK- cludes projects for SIBUR Holding, Sberbank, UST), the Society Hub of the Hong Kong Uni- CB Richard Ellis, Market Council, and others. versity of Science and Technology (Society Hub HKUST (GZ)), and the Moscow School of Management SKOLKOVO, the Center engag- es international Eurasian experts and draws on partner resources for research in the fields of economics, business and technology development, politics, the social sphere, and the en- vironmental macroregion, as well as regional, transnational and international comparative and interdisciplinary research involving China, CENTER FOR RESEARCH IN FINANCIAL Russia, and other mainland countries. TECHNOLOGIES AND DIGITAL ECONOMY SKOLKOVO-NES

Founded jointly with the Moscow School of CENTRE FOR DEMOGRAPHIC RESEARCH Management SKOLKOVO and Mastercard, the (CDR) Center conducts applied research in finance, payments, and the digital economy. Maintains a Russian birth-and-death database.

12 13 www.nes.ru New Economic School QUALITY EDUCATION

NES professors hold PhD degrees in economics and finance. The majority of them have teach- ing and research experience at the leading foreign universities. The student-faculty ratio at NES is less than five students per faculty member, which ensures that every student has direct access to professors throughout the learning process.

According to the Changellenge survey, 100% of students are satisfied with the quality of education provided by NES.

NES adheres to high education standards, which, among other things, exclude any possibil- ity of charting and plagiarism. The School established the Code of Ethics for the purpose of guiding its students.

OLEG ITSKHOKI WHO ARE OUR APPLICANTS: NES Alumnus, MАЕ’2004 Statistically, most winners and the average admissions score for awardees of school contests in 360 applicants who enroll on a paid Professor of Economics, University of /400 California, Los Angeles (UCLA) economics and mathematics basis is 360 out of 400. prefer the NES/HSE Bachelor’s Member of NES International Advisory Program. Board Future students of master’s programs have a deep knowledge of mathematics and English. “Nowadays, NES is well known to the world’s leading scientists. When it comes to NES Master’s degree programs attract graduates from the leading universities of Russia: young economists from

Russia, it is assumed that Bauman MOSCOW STATE they are NES graduates”. TECHNICAL UNIVERSITY

MGIMO UNIVERSITY

14 15 www.nes.ru New Economic School BACHELOR OF ARTS IN ECONOMICS, MASTER OF ARTS IN ECONOMICS (MAE) 4 YEARS NES-HSE JOINT PROGRAM (BAE) The first NES educational program, launched in 1992 BACHELOR’S 2 YEARS MASTER’S PROGRAM FEATURES: PROGRAM FEATURES: PROGRAM

• Diplomas from the two leading economics • Development of soft skills • The first program taught at NES, which gave • Excellent career prospects: graduates are education institutions in Russia the School its reputation as a first-class highly demanded in business, finance, • Academic exchanges with world’s leading educational institution consulting and the public sector. • Impressive number of up to date courses universities in economics • Program provides fundamental knowledge in • Opportunity to enter top universities’ PhD the field of economics Specialties: • Flexible program - more than 50% Programs immediately after graduation • data analysis of courses are elective • Academic educational exchanges with the • economic policy • Great job opportunities in business and world’s leading universities • finance • Variety of courses outside economics: consulting • economic development advanced mathematics, programming, • Opportunity to enter top universities’ PhD • Industrial organization theory machine learning, social science and programs • trade humanities • advanced macroeconomics

ANDREI MARKEVICH SERGEI IZMALKOV Full Professor, Co-Director of the Joint Senior Lecturer, Director of the NES-HSE Bachelor’s Program Master of Arts In Economics Program

“We have created a program with an “Our main goals are to help students individual approach, which allows to choose and build their careers as each student to build his or her own well as to give them up-to-date knowl- learning path and maximize their edge of economics and other disci- abilities. plines in related fields. A modern economics education gives The Master of Arts in Economics Pro- our graduates the opportunity to work gram is a springboard for those who in major Russian and international know what they want: to become a companies and to enter PhD programs partner in consulting, a professor in at the world’s leading universities – one of the leading universities, minis- Harvard, Stanford, Princeton, ter in the government, or to start their Berkeley”. own company - and there are many such graduates; at the same time it is a testing ground for those who are unsure – they can try different direc- tions and see, for example, whether a research career is suitable for them. We strive to be the best at what we do, and we expect the same from the students”. 16 17 www.nes.ru New Economic School MASTER IN ECONOMICS AND DATA SCIENCE MASTERS IN FINANCE (MIF)

Joint program of NES and Yandex School 2 YEARS PROFESSIONAL PROGRAM FEATURES: of Data Analysis RETRAINING DIPLOMA • Intended for professionals with work Specializations: PROGRAM FEATURES: experience and technical background, who aim • Asset Management for a successful career in the financial sector • A combination of applied knowledge in • More than 40 elective courses • Banking advanced data analysis techniques, machine • Corporate Finance • Flexible program: on-the-job training or full • Digital Finance learning, and fundamental academic training • Term project on solving a specific problem immersion (without combining with work) in economics with real business data • Economics & Data Analysis • The curriculum is based on the best foreign • Management • Study at two educational platforms at once: • All applicants who pass the general compe- models of master programs in finance; it is a • Quantitative Finance at NES jointly with the Master of Arts in Eco- tition for admission to Yandex School of Data partner program of the CFA Institute nomics program and at the Economics and Analytics and get the minimum required score Data Analytics School at Yandex in English get a 100% study grant.

DARIA DZYABURA ANNA OBIZHAEVA Associate Professor with tenure, Academic Moscow Exchange Full Professor of Finance, Director of Master in Economics and Data Director of the Masters in Finance Program Science Program

“Economic models, analytical tools, “If you want to become a top-notch and real data are the three ‘pillars’ on financial professional and a leader which this program is built. We teach who will shape the future, this is the how to extract meaning from data and program for you.” turn it into economic decisions both in business and in the public sphere.”

PROGRAM 2 YEARS DIPLOMA OF PROFESSIONAL RETRAINING PARTNER YANDEX SCHOOL OF DATA ANALYSIS 4-10 CERTIFICATE OF ADVANCED MONTHS TRAINING IN THE SELECTED The program is supported SPECIALIZATION by XTX Markets UP TO 2 CERTIFICATE OF COURSE MONTHS COMPLETION

18 19 www.nes.ru New Economic School FINANCE, INVESTMENT, BANKING (MAF/MSF) CORPORATE TRAINING

PROGRAM FEATURES: TWO MODES: NES offers a wide range of corporate educational programs in finance, • Applied program: partnerships and lectures Master of Arts in Finance (MAF) economics, and business: from top business representatives 2 YEARS MASTER’S PROGRAM • 60% of courses focus on finance, 30% – • LECTURES • 1-3 days – Super intensive courses on applied micro- and macroeconomics, Master of Science in Finance (MSF) econometrics and machine learning 1 YEAR PROFESSIONAL • MASTER-CLASSES • NES Weekend • The programs are accredited by the prestig- RETRAINING • SEMINARS ious international association ACCA (Associa- • 1-6 months – Advanced professional tion of Chartered Certified Accountants) Specializations: • TRAININGS training • banking • Students are not only trained but also employed by such companies as UBS, • corporate finance McKinsey&Company, Bain&Company, BCG, • asset management PROGRAM BENEFITS: Moody’s Investors Service, VTB Capital, • financial mathematics Renaissance Capital, Sberbank, DOM.RF, • finance and IT • Lecturers with academic degrees from the A wide range of training programs: Yandex and many others. • economics and data analysis world’s leading universities and invited • resource economics business experts • macroeconomics • behavioral economics • Focus on practical skills with the use of • corporate finance gamification elements (real business cases, • derivatives games and simulations) • investment business • Courses at the basic, advanced and expert • financial risk management level – according to the expertise of the • statistics audience • econometrics OLEG SHIBANOV • big data analysis Senior Lecturer, Director of the Master of • Development of a unique education • strategy proposal, according to the client’s goals • corporate governance Arts in Finance and Master of Science in and challenges Finance Programs

“If you are motivated to build a career WE ARE TRUSTED BY: in finance or consulting, want to use modern methods of data analysis, and develop your teamwork skills – we CENTRAL BANK MINISTRY OF FINANCE would love to see you. The Master’s OF RUSSIA OF THE RUSSIAN FEDERATION program is aimed at improving your tools for working in the industry, and our main value is your career.

We believe in helping future leaders ACCOUNTS CHAMBER OF of the financial industry become THE RUSSIAN stronger, and we see that in our FEDERATION graduates. Contact us, we’re ready to discuss your request!”

Russian Agricultural Bank

20 21 www.nes.ru New Economic School PROSPECTS ALUMNI

% % PUBLIC SECTOR AND ACADEMIA: 90 OF GRADUATES 80 INTERNATIONAL ORGANIZATIONS: Georgy Egorov (MAE’2003) are professionally employed in the join the business sector, and work mainly for Professor, Northwestern University first three months after graduation leading Russian and foreign companies from Arkady Dvorkovich (MAE’1994) the financial and real sector Chairman of the Skolkovo Foundation Council, Oleg Itskhoki (MAE’2004) President of FIDE Professor, University of California, Los Angeles

% choose an academic career at the Irina Yakadina (MAE’1994) 16 leading world’s universities Anna Mikusheva (MAE’2002) $ 1300-1700 Senior Economist at the International Monetary Professor, Massachusetts Institute of Technology average salary of NES graduate Fund at the start of the career Anna Pavlova (MAE’2002) % Ksenia Yudaeva (MAE’1994) work in the public sector Professor, London Business School 4 First Deputy Governor, Bank of Russia Ilya Strebulaev (MAE’1999) Alexei Zabotkin (MAE’2005) Professor, Stanford Graduate School of Business Deputy Governor, Bank of Russia NIKOLAY STORONSKY NES Alumnus, MAE’2007 FINANCE AND BUSINESS: ENTREPRENEURSHIP:

Founder of Revolut, International Alexander Gerko (MAE’2003) Fintech Service Dzhangir Dzhangirov (MAE’2004) Vice President and Head of Market Risk Founder of XTX Markets at Sberbank “NES is awesome because in such a Olga Kotsur (МАЕ’2009) short period of time it was able not Alexander Kuznetsov (MAE’2002) Founder of Mercaux Vice President of EvrazHolding only to teach the entire market what Dmitry Matskevich (MIF’2012) a real economics education looks like, Natalya Puzyrnikova (MIF’2009) Venture entrepreneur, founder of Flocktory and but it gathered considerable human First Vice President of Gazprombank Dbrain

capital. NES attracts people with Vladimir Sakovich (MIF’2013) Ilya Shirokov (MAE’2004) strong technical and economics back- General Director of Skolkovo Ventures Founder of JOOM grounds who love challenges, enjoy self-development and seek to benefit Dmitry Sotnikov (MAE’2002) Nikolay Storonsky (MAE’2007) Founder of Revolut the world. The School consolidates Vice President for Investment Projects of NLMK Group knowledge and develops a way of thinking which will become the basis Yulia Timonina (МАE’1997) for future international companies”. Partner of EY

22 23 www.nes.ru New Economic School BARACK OBAMA ILYA STREBULAEV

President of the United States of America NES Alumnus, МАЕ’1999 (2009-2017) delivered a speech at the NES Professor at Stanford Graduate School of Commencement Ceremony in 2009 Business, Member of The NES International Advisory Board

”I was greatly impressed by the stu- ”The New Economic School gave me the dents of the New Economic School, opportunity to make my dreams of doing who are eager to take advantage of research and giving lectures at one of the the opportunities of the 21st century.” best universities in the world come true. Giving NES support has become my priority since I became a Professor at Stanford University in 2004. By helping the School, I help the young generation of NES students fulfill their dreams.”

UNIVERSITIES AND BUSINESS SCHOOLS ATTENDED BY NES ALUMNI: UNIVERSITIES AND BUSINESS SCHOOLS EMPLOYING NES ALUMNI AS PROFESSORS:

• Carnegie Mellon University • Princeton University • London Business School • Tilburg University • Columbia University • Stanford University • London School of Economics • University of California, Davis • Cornell University • University of Cambridge • Massachusetts Institute of Technology • Univetsity of California, Los Angeles (UCLA) • Duke University • University of Chicago • Michigan State University • University of Cambridge • Harvard University • University College London • Northwestern University • University of Chicago • London Business School • University of Michigan • Paris School of Economics • University of Glasgow • London School of Economics • University of Oxford • Pompeu Fabra University • University of Illinois at Urbana-Champaign • Massachusetts Institute of Technology • University of Pennsylvania • Princeton University • University of North Carolina at Charlotte • Northwestern University • Yale University • Stanford University • University of Texas at Dallas • Pennsylvania State University • The University of Sydney • University of Toronto

24 25 New Economic School CAREER

CENTRAL BANK OF RUSSIA ACCOUNTS CHAMBER OF THE RUSSIAN FEDERATION Россия

MINISTRY OF FINANCE Ministry of Economic OF THE RUSSIAN FEDERATION Development MINISTRY OF ENERGY of the Russian Federation OF RUSSIAN FEDERATION

Rostec

26 27 www.nes.ru New Economic School PUBLIC EDUCATIONAL

PROJECTS NES Public Lectures feature leading Russian and prestigious universities, including Sergei Guriev international experts who deliver lectures on eco- (Sciences Po), Ilya Strebulaev (Stanford Gradu- nomics and finance and their impact on modern ate School of Business), Ekaterina Zhuravskaya Contributing to public education is a part of the NES mission. The School runs life. NES has held more than 40 public lectures (Paris School of Economics); business leaders, two major projects aimed at a wide audience on a regular basis. They are public since the project’s launch. Starting from March including Dzhangir Dzhangirov, Vice-President, lecture series and educational podcasts on economics and finance. 2020 the lectures have been held online, which Head of the Risk Management Block at Sberbank, allowed NES to significantly expand the project’s Olga Kotsur, Founder of Mercaux platform, and audience and geography. The speakers included many others. NES professors and guest lecturers. Among them are winners of the Alfred Nobel Prize in Econom- All public lectures are free of charge. ics Jean Tirole and Esther Duflo; professors from

ELIANA LA FERRARA

Professor at Bocconi University, Fellow of the American Academy of Arts and Sciences, President of the European Economic Association (2018)

“The New Economic School is an excellent institution. I have met many superb Russian economists, and I cannot think of one that In December 2020, Among the guests we welcomed Ksenia Yudae- the New Economic va (First Deputy Chairman of the Central Bank of wasn’t coming from NES.” School jointly with the Russian Federation), Oleg Itskhoki (Profes- VTimes Media laun- sor at the University of California in Los Angeles), ched a series of pod- Olga Skorobogatova (First Deputy Chairman of casts, «Economics the Central Bank), Andrey Sharonov (President Out Loud» supported of Moscow School of Management SKOLKOVO), by the SAFMAR Charitable Foundation. and Pavel Teplukhin (General Partner of Matrix The project features NES professors discussing Capital). the most relevant economic, social, and political issues worldwide. The conversations are followed The podcast is available at the VTimes website by the insights from the scholars, financial exec- as well as at digital platforms (Apple Podcasts, utives, entrepreneurs, and government officials. Google Podcasts, Yandex.Music).

28 29 www.nes.ru New Economic School NOBEL LAUREATES 11 IN ECONOMICS GAVE LECTURES AT NES

ESTHER DUFLO

Professor at the Massachusetts Institute of Technology, 2019 Sveriges Riksbank Esther Duflo Paul Milgrom Rober Engle Eric Maskin Prize in Economic Sciences in Memory of Alfred Nobel

“If you want to be an economist, you have to study at the New Economic School.”

James Heckman Roger Myerson Bengt Holmström Jean Tirole

Robert Shiller Robert Aumann Lawrence Klein

30 31 www.nes.ru New Economic School 47mln $ SUPPORT in donations have been received by NES over the last 15 years

over over over OF MASTER’S 900 DONORS 40% DEGREE STUDENTS 200 STUDENTS have supported NES since receive scholarships are granted scholarships its establishment and grants from the funds of the NES Alumni Association

FULL PROFESSOR 2/3 10 2 POSITIONS OF THE DONORS NAMED PROFESSOR are financed from the are the School’s partners and POSITIONS Endowment Fund revenue friends, who have already provided support before

ENDOWMENT FOUNDATION The Russian and international business community trust in NES. The endowment is yet another proof of this confidence.

An endowment is vital for a research universi- heres to its principles in fact, not in word. ty. It enables the institution to diversify budget sources, ensures stable financing of professor According to the NES development strategy, by positions and secures the financial stability and 2025 the size of the Endowment Fund should independence of the School. It allows the School increase up to 3.5-4 billion rubles through the to guarantee its commitment to the mission. use of the whole range of financing tools with the separation of operational fundraising and ”Access Industries Inc., which I own, It is difficult to pursue high goals with- the Fund itself, as well as through the growth of LEONARD out stable sources of funding. At the same financial contributions to operational activities facilitates the development of time, the growth of the endowment is a sign with the income from applied research and cor- BLAVATNIK economic science all over the world. of public confidence that the School ad- porate programs. Chairman of the Board of Directors This is Harvard, this is Oxford, these of Access Industries Group are many other, less noticeable Member of NES Endowment Foundation projects. % Board of Trustees, investor and Why NES? Because I try to help, first $ 5,363,636 90 of the individuals philanthropist of all, the best, those who have the amounted the volume of the Fund as of who contributed to NES Endowment Fund ability and desire to achieve the December, 2020 are NES alumni highest results. And NES meets these criteria.’’

32 33 www.nes.ru New Economic School HOW TO HELP?

ENDOWMENT NAMED PROFESSORSHIPS

The NES Endowment Foundation was estab- One of the School’s strategic priorities is hiring KSENIA YUDAEVA lished in 2007 - it was one of the very first insti- professors in the international job market. The tutions of this kind in Russia. The Endowment annual salary of named professor positions at NES Alumna, MAE’1994 lays the foundation for NES’s sustainable de- NES established with the support of private First Deputy Governor, the Central Bank of velopment: it accumulates contributions and donors is significantly higher than in any other the Russian Federation donations from individuals and companies. Russian university. The annual income from the investment of Member of NES Board of Directors assets can be used to fund the school’s primary activities, large infrastructure or it can be reinvested.

SCHOOL’S PRIMARY ACTIVITIES ”I am a NES graduate and I believe that the education Funds are used to support, develop and improve educational programs and services, hire I received at the school has leading world-class professors, rent a campus radically changed my life. and cover monthly operating expenses.

By supporting NES, I support a young generation of peo- STUDENTS SCHOLARSHIPS ple who can receive a unique high-quality education, which The funding of named scholarships gives the most talented and hardworking students will also allow them to reach a chance to study at NES. In the 2019-2020 a whole new level in their academic year, 86% of students in master’s programs received scholarship support. Grant EVGENY YAKOVLEV future career.” support, state scholarships, and scholarships established by the school’s alumni are also SAFMAR Associate Professor of Economics with tenure available to students. In the 2019-2020 academic year, more than half of the graduate students received financial support in the form of full or partial tuition waivers and dor- mitory housing.

34 35 New Economic School RESEARCH DEVELOPMENT DEVELOPMENT OF EDUCATIONAL STRUCTURE OF INCOME IN ACADEMIС YEAR 2019-2020 ($) PROGRAMS Includes the support of research conferences, seminars, lectures by NES professors, By choosing educational programs as an and funding for research labs and research endowment, you invest both in the improve- 7,852,523 Donations centers. ment of existing educational programs and in the development and implementation of new 715,253 Paid Services ones. DEVELOPMENT OF ACADEMIC IN- FRASTRUCTURE AND RESOURCES PUBLIC EDUCATIONAL PROJECTS 10,800,547 USD We need to introduce modern IT-technolo- The school regularly holds public lecture se- TOTAL INCOME 1,566,524 Educational Services gies to ensure an effective educational pro- ries and produces podcasts on economics. IN ACADEMIС YEAR cess, improve the technical equipment in our Also, NES regularly delivers winter and sum- 2019-2020 classrooms, replenish the library fund and mer schools for advanced training, develops expand the range of available electronic re- methodical materials and evaluates educa- 147,377 Finance Activities sources necessary for research work. tional programs in the field of economics, fi- 200,969 Endowment nance and management, etc. for higher edu- 317,901 Grants cation institutions.

DONATIONS BY TYPES OF SUPPORT IN ACADEMIC YEAR 2019-2020 ($) STRUCTURE OF EXPENSES IN ACADEMIC YEAR 2019-2020 ($)

4,109,715 NES professors salaries 2,047,845 Rent of buildings and premises 6,244,564 Statutory Activities 1,843,955 NES general staff salaries 883,963 Visiting professors 828,240 Named Professorships 384,644 Events organization expenses 274,658 Financial duties 192,328 Scholarships Support of academic activities DONATIONS 101,756 Grants 188,398 BY TYPES 183,054 Support of student activities OF SUPPORT 437,724 Educational Programs 121,879 Research 80,498 Endowment 103,380 Study materials, including subscriptions 168,396 Educational Public Projects 62,839 Travel expenses

8,053,506 USD TOTAL 43,464 Taxes, fees, charges 30,418 Staff trainings 10,302,962 USD 24,750 Other TOTAL

36 37 www.nes.ru New Economic School GOVERNANCE

BOARD OF DIRECTORS ALEXEI KUDRIN Chairman of the Accounts Chamber of the Russian Federation, Chairman of the NES Alexei Kudrin Ruben Enikolopov Board of Directors Chairman of the Accounts Chamber of the NES Rector, Full Professor Russian Federation, Chairman of the NES Board of Directors Barry Ickes ”I have long ago decided to Professor, Pennsylvania State University; support advanced education Petr Aven President, American Friends of NES (AFNES) projects. Those that provide Chairman of the Board of Directors, Alfa Banking Group Valery Makarov unique opportunities in the field Honorary President of NES, Academician of of education and science are of Erik Berglof RAS, Research Director of CEMI RAS, particular interest for me. Chief Economist, Asian Infrastructure Director of the Graduate School of Public Investment Bank Administration of Lomonosov Moscow State This is exactly what the New University Economic School is today.” Maxim Boycko Visiting Lecturer, Department of Economics, Andrei Vavilov Harvard University Board Chairman, SuperOx company

Arkady Dvorkovich Shlomo Weber Chairman of the Skolkovo Foundation, NES President, NES Professor, Research President of FIDE Director, The NES Center for the Study of Diversity and Social Interactions (CSDSI) NES, Dzhangir Dzhangirov Co-Director, China-Russian Center for Eura- Senior Vice President, Head of Risk Unit, sian Studies Sberbank Ksenia Yudaeva Mikhail Dmitriev The Central Bank of Russia, First Deputy President, Business Partnership Governor ”New Economic Growth”

38 39 www.nes.ru New Economic School ARKADY ANNA DVORKOVICH MIKUSHEVA NES alumnus, MAE’1994 NES Alumnа, MAE’2002 Chairman of the Skolkovo Foundation Council, Professor of MIT, Coordinator of NES President of FIDE, Chairman of the NES International Advisory Board Endowment Foundation Board of Trustees

”NES has always stood out due to the “NES has radically changed my career and synergy of foreign and Russian professors, a life plans. For me, the School has opened a high share of subjects and scientific works in door to a new profession, which I truly love English and, accordingly, greater and which brings me joy. I’m thankful to engagement of professors in the global NES and I think that the main mission of the economic space. NES is not just an School is to open new professional paths for economic school, it is a scientific and students, captivate them with economics and educational organization that sets high show them new opportunities for building a standards in research and education productive and creative career”. within Russia.”

NES ENDOWMENT FOUNDATION BOARD OF TRUSTEES INTERNATIONAL ADVISORY BOARD (IAB)

Petr Aven Valery Makarov Professor Erik Berglof Professor Oleg Itskhoki Chairman of the Board of Directors, Honorary President of NES, Academician of Chief Economist, Asian Infrastructure Professor Oleg Itskhoki Alfa Banking Group RAS, Research Director of CEMI RAS, Director Investment Bank University of California, Los Angeles (USA) of the Graduate School of Public Administra- Leonard Blavatnik tion, Lomonosov Moscow State University Professor Victor Chernozhukov Professor Anna Mikusheva Massachusetts Institute of Technology Massachusetts Institute of Technology, Chairman of the Board of Directors, IAB Coordinator Access Industries Group Andrei Vavilov Professor Steven Durlauf Board Chairman, SuperOx company Harris School of Public Policy, Professor Anna Pavlova Arkady Dvorkovich University of Chicago (USA) and NES London Business School Chairman of the Skolkovo Foundation, Oleg Vyugin President of FIDE, Chairman of the NES Chairman of the Board of Directors, Professor Mikhail Golosov Professor Ilya Strebulaev Endowment Foundation Board of Trustees SAFMAR Financial Investments University of Chicago Graduate School of Business, Stanford University Vladimir Kremer Professor Georgy Egorov Kellogg School of Management, Professor Ekaterina Zhuravskaya Managing Director, Vice-Chairman of the Northwestern University Paris School of Economics Management Board, RENOVA Group Professor Barry Ickes Pennsylvania State University

40 41 New Economic School CONTACTS

GOVERNANCE KEY DEPARTMENTS

Ruben Enikolopov Vitaly Voronin FUNDRAISING DEPARTMENT EVENT DEPARTMENT NES Rector, [email protected] Vice-Rector in Finance, Director of the Natalia Pavlova, Head, [email protected] Olga Evsikova, Head, [email protected] Endowment Foundation, [email protected] Shlomo Weber COMMUNICATION DEPARTMENT INTERNATIONAL COOPERATION DEPARTMENT NES President, [email protected] Zarema Kasabieva Elena Morozova, Director, [email protected] Alena Ovchinnikova, Head, Vice-Rector for Enrollment, Student Affairs and [email protected] Dmitry Kondratyev Alumni Relations, [email protected] ADMISSION AND MARKETING DEPARTMENT Executive Director, [email protected] Elizaveta Aleksakhina, Director, [email protected] CAREER AND LEADERSHIP DEVELOPMENT Mikhail Drugov CENTER Maxim Bouev Deputy Vice-Rector for Academic Affairs, DEVELOPMENT DEPARTMENT / PARTNER PRO- Svetlana Volkova, Director, [email protected] Vice-Rector for Strategic Development, [email protected] GRAM DEPARTMENT / NES BUSINESS ACADEMY [email protected] Ilya Zharov, Director, [email protected] ALUMNI RELATIONS & STUDENT AFFAIRS DEPARTMENT HUMAN RESOURCES DEPARTMENT Irina Sibiryakova, Director, Svetlana Kustova, Director, [email protected] [email protected]

PROGRAMS RESEARCH CENTERS

BACHELOR OF ARTS IN ECONOMICS MASTER OF SCIENCE IN FINANCE CENTER FOR ECONOMIC AND FINANCIAL CENTER FOR RESEARCH IN FINANCIAL (NES-HSE joint program) Elena Simonova, Executive Director, RESEARCH (CEFIR) TECHNOLOGIES AND DIGITAL ECONOMY Natalia Petrova, Executive Director [email protected] Natalya Volchkova, Academic Director, SKOLKOVO-NES Lyudmila Medvedeva, Program Coordinator [email protected] Oleg Shibanov, Director, [email protected] [email protected] MASTERS IN FINANCE Irina Luchenkova, Executive Director, CENTER FOR THE STUDY OF DIVERSITY AND CHINA-RUSSIA EURASIAN STUDIES CENTER MASTER OF ARTS IN ECONOMICS [email protected] SOCIAL INTERACTIONS (CREC) Galina Benevolenskaya, Executive Director, Shlomo Weber Shlomo Weber, Co-Director, [email protected] [email protected] NES AND YANDEX SCHOOL OF DATA ANALYSIS Academic Director, [email protected] Alexandra Mastakova, Program Manager, JOINT PROGRAM CENTRE FOR DEMOGRAPHIC RESEARCH (CDR) [email protected] Irina Shafranskaya, Executive Director, Eugeniy Andreev [email protected] Leading Researcher, [email protected] MASTER OF ARTS IN FINANCE Elena Simonova, Executive Director, [email protected]

CONTACTS New Economic School +7 (495) 956-95-08 121353, Moscow, Skolkovskoye Highway, 45 www.nes.ru, e-mail: [email protected]

42 43 New Economic School NES TODAY

STUDENTS ALUMNI

2020 Program Total number Number Annual Number of Total number (01.09.2020) launch of students of admitted tuition fee graduates of graduates year students in 2019 (USD) 2020 (years to date)

MAE 1992 87 58 6 974 24 1386

MiF 2007 51 31 9 078 9 220

MsEE/MAEE 2014 9 0 7 368 5 44

MsF/MAF 2015 108 56 7 368 38 142

BAE 2011 246 100 7 105 59 335

EDA 2019 9 10 6 974 - -

TOTAL 510 255 135 2127

Annual budget 2019-2020, USD 9 782 mln

Costs per student, $ per year 23 000

Academic staff, total: 66 full time professors 37 part-time professors 29

Governance: Board of Directors 13 NES Endowment Foundation Board of Trustees 7 International Advisory Board 11 NewEconomicSchool

New Economic School 121353, Moscow, Skolkovskoye Highway, 45 +7 (495) 956-95-08 www.nes.ru