Educational programmes

Educational Program ‘Finance’

The Department of Finance trains specialists in 4 educational programs that form a continuous educational cycle:

1) ‘Finance’ Program — Bachelor’s

2) ‘Finance’ Program — professional master’s track

3) ‘Finance’ Program — scientific-pedagogical master’s track

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All educational programs have a practice-oriented focus and were developed with the participation of employers — representatives of the financial sector and the academic community.

Educational Program ‘Finance’ (Bachelor’s)

Graduates — bachelors of finance — carry out professional, analytical, and consulting activities in the financial departments of enterprises of all forms of ownership, financial bodies and insurance organizations, banking institutions, insurance, mortgage, leasing, factoring, brokerage, pension, and investment companies, pawnshops, microcredit organizations, credit partnerships, the securities market, and the insurance, financial, investment, money, and capital markets.

Duration of Study — 4 years.

Uniqueness of the Educational Program:

• Applied nature of training; there is a laboratory and a department branch at FREEDOM FINANCE KAZAKHSTAN bank
• A focus on training finance and economics professionals able to work in various fields
• High level of faculty qualification, with 76% holding academic degrees
• The faculty includes teachers with extensive practical experience in the financial sector
• A continuous educational cycle for the student — bachelor’s, master’s, doctoral studies
• A high graduate employment rate, averaging 80% over the past 3 years
• the bachelor’s educational program passed international FIBAA accreditation within the ‘EDUQAS’ (ERASMUS) project and holds high ratings from the IAAR, IQAA, and the ‘Atameken’ NCE
• A double-degree education program is being implemented — agreements on a double-degree program have been concluded with Kangnam University in South Korea, the European University in Switzerland, the University of Economics and Human Sciences (Poland), and an agreement on a joint educational program with Yanka Kupala Grodno State University (Republic of Belarus).
• Academic Mobility
• the educational program has long-term agreements with partners — leading banks, insurance companies, and enterprises of Kazakhstan

 Objective of the EP - to provide basic professional training aimed at achieving the competencies of a bachelor of finance in public finance, financial management, banking, and insurance

Field of professional activity

Graduates of the ‘Finance’ bachelor’s program can work as financiers at enterprises, in state financial and tax bodies, banks, and insurance companies.

Bachelors of finance manage and organize finance, conduct monetary and fiscal policy at the micro and macro levels, and carry out risk management

Bachelors of this profile should analyze the financial condition of companies, help increase income, minimize costs and risks, and meet the market’s need for the provision of high-quality financial services

 Learning Outcomes

During their studies, students acquire a set of general educational, general professional, and professional competencies. Among the professional learning outcomes, graduates are able to:

• understand the organization of fiscal-budgetary and monetary regulation, the theoretical and practical aspects of the functioning of the financial-banking system;
• apply forms and methods of the financial-legal mechanism for the sustainable, stable functioning of the financial system and the business entity within the legal framework provided by the legislative acts of Kazakhstan and international legal norms;
• use financial methods of economic analysis to form management decisions;
• interpret the legal norms of organizing public and corporate finance, monetary regulation, and the activities of financial organizations;
• master the methodology and scholarly apparatus for conducting analytical work in finance

‘Finance’ Program (professional master’s track)

The professional master’s track is a practice-oriented postgraduate educational program for training management personnel for business, the financial system, state financial bodies, banking and insurance business, and investment activity, with in-depth professional training.

Duration of Study — 1 year.

Objective of the EP - to provide professional training for master’s students, competitive specialists in the financial sphere in financial management and public finance, banking and insurance business, and investment activity.

Graduates — masters of finance — carry out professional, analytical, and consulting activities in the financial departments of enterprises of all forms of ownership, financial bodies and insurance organizations, banking institutions, insurance, mortgage, leasing, factoring, brokerage, pension, and investment companies, pawnshops, microcredit organizations, credit partnerships, the securities market, and the insurance, financial, investment, money, and capital markets.

 Learning Outcomes

During their studies, master’s students acquire a set of general professional and professional competencies. Among the professional learning outcomes, graduates are able to:

• comprehend and assess the patterns of the functioning of finance within the system of macroeconomic regulation, interpret and forecast their development taking into account current realities;
• determine the legality of the activities of business entities and financial institutions, interpret the application of legal norms, and assess and rate the financial activity of economic entities;
• assess problems of financial regulation and formulate proposals for their solution, justified with scientific calculations, arguments, and practical computation;
• rank and compare financial indicators of the financial monitoring and state audit mechanism, diagnose the financial activity of economic entities, formulate conclusions, and justify financial decisions aimed at addressing identified threats;
• design budgets and financial plans at the micro and macro levels; organize and describe the procedure of actions in managing an enterprise or financial institution, interpret the application of the tools of state and corporate tax management, banking and insurance management.

‘Finance’ Program (scientific-pedagogical master’s track)

The scientific-pedagogical master’s track is a practice-oriented postgraduate educational program for training management personnel for research institutes, universities of a financial-economic profile, business, the financial system, state financial bodies, banking and insurance business, and investment activity, with in-depth scientific-pedagogical and research training

Duration of Study — 2 years.

Objective of the EP - to provide training of scientific-pedagogical personnel of higher postgraduate education and the academic sphere in public finance and financial management, banking and insurance business, and investment activity.

Graduates — masters of finance — carry out research and teaching activities at universities, as well as professional, analytical, and consulting activities in the financial departments of enterprises of all forms of ownership, financial bodies and insurance organizations, banking institutions, insurance, mortgage, leasing, factoring, brokerage, pension, and investment companies, pawnshops, microcredit organizations, credit partnerships, the securities market, and the insurance, financial, investment, money, and capital markets.

 Learning Outcomes

During their studies, master’s students acquire a set of general professional and professional competencies. Among the professional learning outcomes, graduates are able to:

- integrate and evaluate key paradigms and concepts, the patterns of the functioning of finance within the system of macroeconomic regulation, interpret and forecast their development taking into account current realities;

• determine the legality of the activities of business entities and financial institutions by applying legal norms, and assess and rate economic entities;
• analyze the state of the financial market using modern methods of assessing risks and threats; identifying problems of fiscal and monetary regulation, formulating proposals for their solution based on scientific justification and practical calculations;
• diagnose the financial activity of economic entities by analyzing the risks of the organization’s internal and external environment and develop anti-risk measures aimed at addressing identified threats;
• calculate financial indicators and evaluate the effectiveness of investment projects; is able to design budgets and financial plans at the micro and macro levels, applying the tools of state and corporate tax management, banking and insurance management.

‘Finance’ Program (Doctoral)

Goal of the educational program is to train teacher-researchers able to develop and implement innovative ideas in scientific-pedagogical and professional activity in finance, in demand by society and actively contributing to the country’s modernization on a systematic scientific basis

Period of study – 3 years.

Area of professional activity

· Fundamental and Applied Economic Research

· Higher economic education

· Consulting

· Financial Management

The objects of professional activity are:

· Research institutes

· Higher Education Institutions

· Consulting Organizations

· Analytical centers and departments of government organizations, national companies, chambers of commerce and industry, and other business associations

· Institutions and organizations of the financial sector

· State financial bodies

· Companies, enterprises, and organizations

Learning Outcomes

During their studies, doctoral students acquire a set of basic, general professional, and specialized competencies; upon completion, they are able to:

• develop economic development strategies in finance, applying financial methods of planning and forecasting to identify socio-economic problems and solve them at the meso and macro levels of the economy, demonstrating a systematic understanding of the field of research;
• critically evaluate financial regulation processes, identifying problems of fiscal and monetary regulation, formulating proposals for their solution based on scientific justification and practical calculations;
• integrate key paradigms and concepts, the patterns of the functioning of finance within the system of macroeconomic regulation, and the interpretation of their development taking into account current realities;
• apply methods of project development and effectiveness evaluation;
• develop recommendations for improving the effectiveness of financial institutions based on a comprehensive analysis of the internal and external factors of their activity

The Department of Finance, which is one of the leading departments and an educational-scientific structural unit of the Faculty of Business and Management. The department employs 17 full-time faculty members, including 2 doctors of science, 8 candidates of economic sciences, and 1 PhD; the proportion of degree holders is 65%.

The ‘Finance’ program (Bachelor’s, Master’s) passed international accreditation by the independent international agency FIBAA and also holds high ratings from the IAAR and IQAA agencies.

The "Finance" educational program actively participates in academic mobility programs. Thus, partner academic mobility of faculty, master's students, and students is implemented on an ongoing basis with the following universities: KANGAM University in South Korea, Yanka Kupala State University of Grodno (Republic of Belarus), Kuban State Agrarian University named after I.T. Trubilin (Krasnodar, Russia), Sh. Yessenov Caspian University of Technology and Engineering, and the A.K. Kusainov Eurasian Humanities Institute.

The faculty of the Department of Finance ensure the textbook provision for the disciplines of the Finance educational program. Thus, in recent years, the textbook "Money. Credit. Banks" was published, recommended by the Republican Educational and Methodological Council, edited by G.S. Seitkasimov and A.A. Mussina, 5th edition, supplemented and revised, with a volume of 28 printer's sheets. The authors included: Doctor of Economic Sciences, Professor Mussina A.A., Candidate of Economic Sciences, Associate Professor Alina G.B., Candidate of Economic Sciences, Associate Professor Dzhumabekova A.T. Study guides were published: by Candidate of Economic Sciences, Associate Professor Lukpanova Zh.O. "Investment Project Design" with a volume of 12.2 printer's sheets, 2022; by Berstembayeva R.K. Financial Recovery of Companies. 2019. (14 printer's sheets); by Toizhigitova Zh.A. Insurance. 2020. (11.4 printer's sheets); by A.T. Dzhumabekova Payment Systems. 2021. 15.6 printer's sheets.

To ensure the employment and completion of professional work placements by students and master’s students of the Finance program, the department actively cooperates with employers — representatives of business structures, government bodies, and financial institutions.

There are long-term memorandums and cooperation agreements with JSC SB "Sberbank", JSC "Forte Bank", JSC "First Heat Land" "JUSAN BANK", JSC " Freedom Finance Bank", JSC "KaspiBank," JSC "Otbasybank," JSC "Eurasian Bank," Insurance Company "ASKO," State Institution "State Revenue Department 'Astana-zhana kala' of the State Revenue Department for the city of Astana of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan," JSC "National Company Kazakhstan Temir Zholy," JSC "Insurance Company NOMAD Insurance," State Revenue Department for the Baikonyr District of the State Revenue Department for the city of Astana of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan. The employment of students and master's students of the "Finance" educational program over the past 3 years averages 80%.