Finance is one of the programs in Business administration. When choosing a profession, you may face financial management and financial accounting. Generally speaking, finance means finding financial resources for the company or the state and the organization of business management. In micro level, there is a need for different financial resources to deal with business and companies. This activity can be achieved by debt or equity. You will find out by which financial themes are more effective or that both of them are financially more productive. Financial expertise teaches companies how to manage existing financial resources. In general, this means the financial sector in the area of supply and management. At the state level, the same procedure as income, taxes and so on. Identification, supply, and effective management of sources are also studied in finance. In short, finance is a management of financial sources.
Almost in many companies, there is a need for financial professionals. All companies need financial resources to carry out their activities. Financiers carry out the finding and effective management of financial resources. If you know your profession well enough, you will be able to easily work in all the private companies after graduating from this program. At the same time, you can easily find jobs in the financial ministry of the state. The main reason for choosing this profession is the ease of finding a job. In addition, financial professionals are working on a higher salary. High salary in both private companies and state-owned companies can be an incentive to choose this specialty. Financial specialty is considered to be very prestigious because it speaks figures in front of companies. The prestige of this area can be another stimulus for choosing this specialty.
Having graduated from the Finance degree, it is easy to find jobs in all the private companies. They can be employed at the financial department of companies. Also, many commercial banks have the opportunity to find jobs in the finance department, credit department, and other departments. Those who are financiers can engage in investment. Many investment opportunities exist in investment companies. Along with the private sector, there are opportunities to find jobs in state-owned enterprises. Employment opportunities are higher in the Ministry of Finance and the Ministry of Taxes.
Which knowledge will you learn?
As your specialty is a specialty of Business Management, you will have a basic knowledge of business management, ie marketing, general management, organizational skills, and so on. In the coming years, you will gain knowledge of macroeconomics and economic theory. You will learn lessons from general accounting, cost estimation, and financial analysis. Accounting and finance are very close together. Without accounting you cannot learn finance. Also, you will have financial mathematics and statistical knowledge. The investment is a very important part of the funding and you will learn about it. You will pass public finance tax, tax accounting, budget policy, and so forth.
Activity directions of the department
351 bachelors and 32 masters study at the Finance Department. Bachelor's degree is in English and Azerbaijani. 82 students were enrolled in the state order and collected more than 650 points. 13 presidency scholars study in finance English language. This year, about 20 graduates of 50 graduates have started their master's degree in a number of foreign countries such as Turkey, Italy, Hungary, and others. In the 2016-2017 academic year, 5 bachelors and one master have been trained at European universities through the Erasmus exchange program. In the 2016-2017 academic years, nearly 20 students have internships in leading companies such as SOCAR, Central Bank, and BP. Nearly 10 students have earned their scholarships in Azercell, Pasha Bank, and other institutions. More than half of our graduates work in four of the world's largest financial companies (Big Four). Some of our alumni work in government agencies and banking sectors.
Academic staff of the department
Most of the staff of the department has been trained in higher educational institutions of foreign countries. Nearly 15 books and about 200 scientific articles have been published by the staff of the department. Employees of the department have participated in lots of training and seminars in Azerbaijan and abroad. Associate Professor Elchin Suleymanov, head of the department, is an expert from the United Nations Food and Agriculture Organization (FAO) and The Korea Institute for International Economic Policy (KIEP) since 2015 and has published several reports have been the author. He became the winner of the "Scientist of 2016" award in the main nomination of Humanitarian and Social Sciences, Within the framework of the grant competition "The Most Successful Scholar - A.L.A." held for the first time by the Science Development Fund (EIF) under the President of the Republic of Azerbaijan on October 16, 2017. The articles have been published in imperial magazines such as Renewable and Sustainable Energy Reviews, Economic Modeling, Economies, Journal of Economic Journalism, International Journal of Social Sciences and Humanities Studies, and Academic Journal of Economic Studies. The impact factor of some of these magazines is around 10, and this is one of the highest indicators published in the impact-factor magazines in Azerbaijan.