Azerbaijan State University of Economics () is a public university located in Baku, Azerbaijan. UNEC was founded in 1930 and it is one of the biggest educational institutions of the South Caucasus. UNEC has 14 faculties, where 18.5 thousand students get education, and it offers master programs in 57 specialties, employing more than 1000 teachers, including 62 professors and 344 docents, among whom there are active members of the Azerbaijan National Academy of Sciences, New York Academy of Sciences, winners of state awards, honored teachers and scientists. UNEC is a full member of the European University Association, Federation of the Universities of the Islamic World, University Council of Organization of the Black Sea Economic Cooperation and Eurasian Association of Universities. Foreign students enrolled in undergraduate and graduate courses at UNEC are approximately 650 out of 18,400 student enrollment overall. In 2007, a Library and Information Center and a student Career Center started functioning at UNEC and also a new 7 floor educational building that meets the highest international standards was opened. The same year UNEC received the “European quality” award and the European Club of Rectors and European University Association. On its Main Building on Istiglaliyyat street, a 24/7 open library is operating since 2018. The strategic direction of UNEC development was to bring the educational process up to the international standards by 2010, finishing the international accreditation process and ensuring full compliance with Bologna Process, as well as more active participation in the international market of educational services. Currently the university is chaired by rector professor Adalat Muradov and five vice rectors. History Originally it was a part of Baku State University. It became a separate university in 1934. Over the years its name has changed a number of times and it was re-merged and re-separated from Baku State on several occasions. On its creation in 1930, the school was named the Trade-Cooperative Institute. In 1933, the government of Azerbaijan SSR changed the name to the "Azerbaijan Social-Economic University named after Karl Marx" (similar to the naming of the Azerbaijan Medical University named after Nariman Narimanov), and introduced curricula on accounting, law and finance. In 1936 the name was tweaked to the "Azerbaijan Social-Economic Institute named after Karl Marx". With the onset of World War II, UNEC was folded into Baku State University's Department of Economics. By 1944 the school was separated again, this time as the Azerbaijan National