A Brief Overview of the New Economic School

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A Brief Overview of the New Economic School

• Moscow
• June, 2001

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NES, an agent for change

• We see a country transforming its system of
  higher education to meet the demands of the
  modern world, with institutions like the new Law
  Faculty at Novgorod University, and the New
  Economic School in Moscow.
• President Bill Clinton, in his address to the
  Russian Duma, June 5, 2000
• "It is such a pleasure to know that the New
  Economic School is achieving the goals of
  preparing for Russia specialists with higher
  economic training in accordance with leading
  international standards.
• Alexei Kudrin, Minister of Finance, Russian
  Federation

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The Mission of NES

• To create and sustain a first rate Russian
  Graduate School of Economics.
• Teaching
• Research
• Outreach

4
The Mission of NES II

• Training a new generation of professional
  economists for Russia
• 100 NES graduates currently pursuing PhDs in top
  western programs
• Bringing NES graduates and others back to Russia
• Placement of qualified NES graduates in teaching
  positions in universities in Moscow and
  throughout CIS
• Placement of NES graduates both with MAs and
  PhDs as professional economists in the public
  and private sectors of Russia

5
Bringing Back Economists

• Five Tenure-Track Assistant Professors at NES
• Sergei Guriev, MIT Post-Doc
• Kirill Sossunov, Australian National University
• Stanislav Anatoliev, Wisconsin
• Konstantin Sonin, Harvard Post-Doc
• Oleg Zamouline, Michigan
• Three more in 2002
• Plus CEFIR
• Ekaterina Zhuravskaya, Harvard
• Ksenia Yudaeva, MIT
• Irina Denisova, Manchester

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Teaching, then and now

• In 1992, NES instruction was
• 80 visitors, 20 Russian
• In 2001, NES instruction is
• 20 visitors, 80 Russians
• How did we make this change without sacrificing
  the quality of education?
• Modern economics curriculum supervised by IAB
• Training and development of Russian faculty on
  site
• Cooperation with CEMI
• Bringing back trained Russian PhDs
• Inviting Russian PhD students as interns

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NES Teaching

• Nine years of teaching modern economics in Russia
• Over 230 graduates with Masters Degrees
• About 150 graduates working in Moscow
• In public service at the Central Bank and
  Ministry of Finance
• Private sector
• International Financial Institutions
• IMF
• World Bank

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Private Sector Placements

• Boston Consulting
• Tyumen Oil Company
• Yukos
• JPMorgan
• KMPG
• Troika-Dialog
• Accenture

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Research

• The Research Center, established in 1995
• Completed projects have produced over 140
  research reports
• Over 46 research projects on topics such as
• Measurement of Poverty in Russia
• Pension reform in Russia
• Health reform in Russia
• Fiscal Federalism
• Barter in Russia
• Corporate Governance in Russia
• Finance in emerging markets
• Foreign Direct Investment
• Two annual research conferences since 1995

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Outreach

• Dissemination of Economics throughout Russia
• Workshops in Economics and Econometrics
• Partnership Program

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Outreach Workshops

• Yekaterinburg
• Novosibirsk
• Voronezh
• Sochi
• Tomsk
• Perm
• Irkutsk

• Vladivostok
• Nizhni Novgorod
• St. Petersburg
• Moscow
• Kislovodsk
• Kostroma

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NES Outreach Covers the Nation
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Partnership Program

• Working with universities in the regions to build
  up Economics
• Voronezh State University
• Urals State University, Yekaterinburg
• Far Eastern State University, Vladivostok
• Faculty exchanges, summer schools and joint
  research projects

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Teaching and Research Infrastructure

• Modern Economics Library, with
• More than 7,000 books
• 50 economics journals with over 10,000 volumes
• J-Stor (thanks to MacArthur)
• EconLit
• High-speed internet connection for research
• Two computer labs for students

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NES, A Unique Governance Structure

• True partnership of Russia and the West
• International Advisory Board
• Comprised of distinguished economists from Russia
  and the West
• Joint decision making on
• Development
• Hiring
• Finance

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International Advisory Board

• Gur Ofer, Hebrew University, Coordinator
• Beth Allen, University of Minnesota
• Olivier Blanchard, MIT
• Erik Bergloef , SITE, Stockholm School of
  Economics
• Roman Frydman, New York University
• Bronwyn Hall, Berkeley, University of California

• Barry W. Ickes, Pennsylvania State University
• Jan Magnus, Tilburg University
• Valery Makarov, Director of CEMI and Rector of
  NES
• Victor Polterovich, CEMI and NES
• Gerard Roland, Free University of Brussels

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Russian Advisory Board

• Maxim, Boycko, Chair
• Director, Video International
• Peter Aven,
• President, Alfa Bank
• Sergei Alexsashenko,
• Deputy Director, Inteross
• Mikhail Dmitriev,
• First Deputy Minister of Economy
• Arkady Dvorkovitch,
• Deputy Minister of Economy
• Graduate of NES1994
• Yegor Gaidar,
• Director, Institute for the Economy in Transition
• Murad Sargysyan,
• Director, Lusine Construction Company

• Ruben Vardanian,
• President, Troika Dialog
• Sergei Vasiliev,
• Carnegie Moscow
• Andrei Vavilov,
• Director, Institute for Financial Studies
• Sergei Vorobiev,
• Managing Partner, Ward Howell International
• Oleg Vyugin,
• Chief Economist, Troika Dialog
• Yakov Urinson,
• Deputy CEO, UES
• Alexander Zakharov,
• Director, Moscow Interbank Stock Exchange

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Strategic Goals

• Build the faculty
• 15 full-time tenure-track faculty
• Increase enrollment
• Increase the student body to 200
• To sustain NES as a world class institution

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Future Developments

• Executive Education Program
• Continuing Education Program
• The establishment of a PhD program
• The establishment of a unit for policy analysis
  on current issues in Russia

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Future Developments II

• House of Economics
• Uniting
• NES
• CEFIR
• EERC
• Providing both a physical and institutional home

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Changes in Funding Sources
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Critical Initiatives Long Term

• Stable finance is critical for long-term
  development
• Soft money cannot support tenure track faculty
• Build an endowment
• Increase fundraising in Russia
• Student-loan fund combined with tuition
• Repayments capitalize the fund over time

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NES, The Final Word

• NES
• nes (Hebrew)
• Miracle