The Department of Economics was founded in the year of 1991.

Research and teaching staff of the chairs of the department of economics is staffed by highly qualified specialists who have extensive experience in teaching and research: PhDs,, professors A.D. Borodayevsk, corresponding member of the Russian Academy of Sciences R.I. Zimenkov, B.V. Salikhov, I.N. Platonova, A.M. Mogzoyev, O.F. Timofeeva, G.Y. Kiperman, E.I. Ivanova,E.Sh. Kachalova, N.M. Svetlov, G.F. Krasnozhenova, O.V. Romashov, `A.A. Gorsky, Yu.B. Bashin, Yu.B. Krasnozhenov, A.N. Tarakanov, G.G.Ilyina, N.V. Yevtropov, V.A. Vinokurov, associate professors T.Yu. Yashechkina, M.A. Razorenova, V.V. Grebenik, O.F. Krivtsov, A.V. Moretsky, N.S,. Markina, O..P. Romashkina.

The leading scientists of the chairs of the Department of Economics have published numerous textbooks, manuals, monographs and scientific articles

The academic process at the Department of Economics is carried out by the following chairs:
♦ Chair of the world economy;
♦ Chair of management and marketing;
♦ Chair of tourism;
♦ Chair of accounting, analysis and audit;
♦ Chair of linguistics and professional communication in economics.

The main objective of the Department of Economics is to form future graduates who possess the skills for professional communication in a foreign language.
The training of bachelors and specialists in economics is the result of a joint effort of the economic and linguistic chairs.
The joint operation of the economic and linguistic chairs is aimed at the training of specialists (bachelors and specialists in the world economy, management, marketing, tourism, accounting, analysis and audit), with the knowledge of two or more foreign languages, which permits to achieve the level of compliance with the European educational standards.

The Department’s curriculum programmes presuppose the following practical training: introductory (the 3rd year), industrial placement (the 4th year), internship (the 5th year). Students of the Department of Economics undergo it in the leading international companies, organizations and state bodies: The Chamber of Commerce and Industry of the Russian Federation, the Ministry of Economic Development and Trade of the Russian Federation, the Russian Association of Marketing Specialists, the Ministry of Foreign Affairs of the Russian Federation, the Central Bank of Russia, the State Duma, the Public Company «Siemens», the Public Company «Norilsky Nickel», the Private Company «PricewaterhouseCoopers Audit», the Institute for Logistics and Marketing, Limited Liability Company “Rosgosstrah-Stolitsa”, Open Joint Stock insurance company “Reso-Garantiya”, Russian International News Agency (RIA Novosti) (PR division), the world-famous hotels «Ararat Park Hyatt», «Renaissance», «Hilton» and others.

The development of the relations between the chairs for the sake of interdisciplinary approach lets the staff bend every effort to develop students’ modern economic thinking as well as the knowledge of economic terms combined with the overall understanding of the economic processes in Russia and in the country of the studied language.

Students take an active part in scientific research as well as in international conferences. Since 2001 the Department has hosted an annual international theoretical and practical conference for young scientists and undergraduates with plenary meetings in English. The working languages for sections are English, German, French, Spanish and Chinese.

The Department of Economics of the Faculty of Economics and Law publishes collected scientific articles of post-graduate students and professors “The MSLU bulletin”, series “Economics”.

The Faculty keeps in contact with universities of France, Germany, Spain, the USA, the UK, Poland, China, Bulgaria, Hungary and other countries. Annual international students’ conferences and international scientific seminars are held on a constant basis. The Faculty provides for the student research group (SRG). Students have the possibility to undergo an in-depth study-course in the foreign partner universities.