EXCELLENCE IN ECONOMICS EDUCATION AND RESEARCH IN RUSSIA TENURE-TRACK AND TENURED RESEARCH CENTERS FACULTY 30 3 STUDENTS 2012 ALUMNI 2012 MAE 188MAE 1028 BAE 118 103 MiF MAE - Master of Arts in Economics BAE - Bachelor of Arts in Economics MiF 68 MiF - Masters in Finance RANKINGS SSRN (Social Science Research Network) NES is ranked the best economics institution NES’s think tank CEFIR (Centre for Economic ranks NES among the top 100 economics in the former communist countries in the and Financial Research) is ranked a top 20 departments in the world and the top research ranking by RePEc (Research Papers economic think tank in the world by RePEc. economics department outside the OECD. in Economics) and is in the top 150 best economics departments in the world. TOTAL NUMBER OF STUDENTS TOTAL NUMBER OF ALUMNI 374 1131statistics 1 45Mission 613 History 1417Governance Dear friends! TABLE OF CONTENTS The New Economic School opened its doors for is first 52 students just 20 years ago, in September 1992. Over the last 20 years NES has grown into a mature university Faculty with more than 30 resident economics faculty hired in Education the international academic market and 374 students 1825 26 33 enrolled in the masters’ and undergraduate programs. We have more than a thousand alumni that have become leaders of their generation in the international academic profession, government, international organization and Russian and international business. Our executive education program (run together with INSEAD busi- ness school) includes 554 participants. Today, NES is still Sergei Guriev growing and developing, as it has been during every year of its twenty-year history. In 2012, we have recruited Rector of the New five more economics faculty, and the first undergradu- Economic School ate students completed their first year. I am confident that in twenty years another Rector will write about their Research Projects Alumni outstanding achievements. 34 41 42 45 46 51 5255 Career development 5659 Fundraising and development 60 63NES community The mission of the New Economic School is to benefit Russia’s private and public sectors through excellence in economics education and research. NES is committed to building a sustainable economics community that should prominently represent Russia in the global economics profession: NES trains new NES produces NES brings back academic economists globally competitive foreign-trained Russian for Russia 1 economics research 2 economists to work in Russia 3 PROFESSIONALISM RESPONSIBILITY MUTUAL RESPECT VALUES INTEGRITY NES contributes to improving Russia’s public policy through both graduate training in economic policy and applied research at its Center MISSIONfor Economic and Financial Research. NES trains economics and finance professionals for Russia’s private sector. NES also provides Russian and international businesses with research, executive education, and consulting. NES aims to become a model for other institutions of developing and transition countries in building centers of excellence in economics. Through its outreach activities, NES also disseminates modern economics knowledge to other universities in Russia, the CIS, and other emerging markets. Arkady Sergei Maxim Dvorkovich Guriev Boycko George Victor Valery Soros Polterovich Vladimir Makarov Stanley Putin Zvi Gur Fischer Griliches Ofer HISTORYIlya 2012 Konstantin Strebulaev Barack Sonin Zarema Obama Don Kasabieva Erik Patinkin Berglof Vladimir Mikhail Preobrazhensky Dmitriev Peter Barry Aven Ickes Herman Gref NES Rector Valery Makarov opens the first In 1992, when Russia faced dramatic challenges of transition of Russian economists contributing to the dissemination of Advisory Board (IAB), which included leading economists from in 2002 there were 80 first-year MAE students, today there are Arts in Economics); 63 students were enrolled in the first year. academic year. NES admits the first class to market economy, leading Russian and foreign economists the modern economics through teaching and research. Most the US, Europe and Israel, developed the School’s academic 108 people. In 2007 we launched the Masters in Finance Today NES has 374 students and 30 resident faculty. of 52 students. The Academic Council teamed up to create a graduate school of modern economics. of the alumni were expected to contribute to the development curriculum and business plan, and in 1992 the New Economic program, which enrolls 30-35 students annually. In 2011 we, The School has entered its third decade with confidence, is established. The International Advisory The graduates were to get their PhDs in the leading Western of the emerging Russian market economy through policy School (NES) opened its doors for the students. In 1992, 52 together with our long-term partner, Higher School of Economics, hopes, and new plans – by 2020 to bring the number of stu- Board led by Gur Ofer begins to operate universities and come back to Russia to teach new generations making and through working in the private sector. International students joined the Master of Arts in Economics (MAE) program, opened a new Undergraduate Program (HSE-NES Bachelor of dents to 1,000, to grow its core faculty to 55 professors, 1992 to further develop and raise quality of research and academic programs. American Friends of NES (AFNES) established in the US NES celebrates its 10th anniversary. Long-term student loan program with Russian Standard Bank launched. New NES mission and new The permanent faculty reaches 30. Sberbank 500 President Vladimir Putin congratulates the strategic plan approved program graduates its first class. The number of MiF The first 32 graduates School on the 10 years of success graduates reaches 100. leave NES. NES Alumni Association established 1996 2005 2002 Soros Foundation Center for Economic 2012 Master of Arts in Economics Masters in Finance (MiF) program launched. 33 MiF students enrolled. MiF Advisory Board founded. 1994 committed to provide and Financial Research (MAE) program’s entering NES Russian Advisory Board was transformed into the Board of Trustees of the NES Endowment long-term support (CEFIR) established Foundation to NES class expands to more 2000 than 80 students 2007 1997 2003 1992 2012 NES governance structure NES Research Center The first NES graduates returned reshaped: Valery MAE program Makarov elected as receives state established through to Russia after completing their PhDs The 44th President of the The number of NES graduates reaches 1000. HSE-NES Bachelor of Arts President of NES. Sergei accreditation. a grant from Ford to teach and do research at NES United States of America in Economics (BAE) program launched. 63 BAE students enrolled. New Strategic Guriev appointed the The first capital Foundation Barack Obama delivers Plan approved. Jointly with INSEAD and Sberbank, NES launches a large scale second Rector of the grant received 1995 1999 the Commencement executive education program “Sberbank 500”. NES opens the Center for the New School. NES Board of from McArthur Address at NES. Media and Society funded by the Open Society Institute and McArthur Foundation. Directors created to Foundation to NES Alumni Relations NES launches the Center for Demographic Research funded by the Dynasty become the ultimate start the School’s Center established Foundation. The NES Writing and Communication Center established governance body. The endowment The second cohort of 50 students NES Outreach Center opened with 2006 2009 number of resident enrolled. Prominent economists support of Soros Foundation and faculty reaches 15 2011 from the US, Europe and Israel come MacArthur Foundation. The new 2004 to teach courses at NES. Academician team – the core of the future Centre for Victor Polterovich becomes the Economic and Financial Research (CEFIR) – The first 22 students graduate from MiF Chairman of the Academic Council comes to the Russian European Center for program. Career Development Center NES Alumni Fundraising Campaign beings. Economic Policy (RECEP) created NES recruits students in Novosibirsk 2008 NES and HSE create a joint undergraduate 1998 1993 and Almaty. NES Russian Advisory Board program. NES Visiting Committee evaluates (RAB) created the quality of research and teaching 2001 2010 he became really interested and I introduced him to Gur. models), and «some kind of commercial activity, such 11 Since then Barry fell in love with NES. He plays a crucial role as consultancy for the government and private business.» in school’s operations by resolving finance issues. By now CES (as the original document already called it) was to Barry has been with us for almost 20 years. There were more be a «private shareholding company» with diverse history new people coming and the School was growing steadily stakeholders: CEMI; Moscow State University; Dialog, but surely. At first it was a tiny school, but now it has over a private investment group; an organization representing 1,000 alumni. Nowadays, the School is much larger and the Russian Government (!) that would «give the gradu- more recognizable worldwide. It is even more recognizable ate students an official status»; «a Western university […] outside of Russia than inside Russia. That’s why it is different from which CES can receive money and invite Western from other schools. professors»; and, finally, «individuals […] who make major investments in CES.» As for the governance of CES, let us Valery Makarov Sergei Guriev Erik Berglof Barry Ickes mention only that the entity was «to operate like a nonprofit institution.» As we revisit several additional Director of CEMI at the Russian Academy of Science, NES Rector, Tenured Professor, President of CEFIR Chief Economist, EBRD, Coordinator of the NES Inter- Professor of the Pennsylvania State University, President of NES, Member of the NES Board elements in this document, we can only be amazed that national Advisory Board, Member of the NES Board President and Treasurer of the American Friends of NES, of Directors much of what happened later, and what NES is at present, of Directors Member of the NES Board of Directors was already captured in the missive’s 400 words.