The International College of Economics and Finance (ICEF)

About the International College of Economics and Finance (ICEF)

ICEF| is an autonomous department of the leading Russian university in Social Sciences, the Higher School of Economics (HSE) and was established in 1997 in partnership with the London School of Economics.

Currently, ICEF offers a double-degree Bachelor's programme|. Students study for degree in Economics from the HSE, and degrees in Economics, Economics and Finance, Economics and Management, Mathematics and Economics, Banking and Finance or Accounting and Finance from the International Programmes of the University of London. The College also offers a Master's programme in Financial Economics|, which was opened in 2007 and has been implemented in cooperation with the LSE. The graduates get an MSc degree from the HSE and an official letter of validation signed by the LSE Director and HSE Rector.

Every year ICEF hires young academics with PhD in Economics and Finance from good Western universities. Now the majority of MSc courses and key specialist BSc courses are taught by ICEF full time teachers with PhD degrees. Also some of the best teachers from Russian universities and visiting teachers from the LSE and other foreign universities teach at ICEF. Teaching for the international programme in ICEF is in English.

ICEF implements its Research programme in cooperation with the LSE. The International Laboratory in Financial Economics| was opened in 2010. The foremost goal of the Laboratory is to conduct research in finance at international standards which leads to publications in top international finance and economics journals. As well as professors and students of ICEF and other HSE departments, experts from LSE, Oxford and other leading foreign universities and research centres participate in the work of the Laboratory. LFE organizes an annual academic conference on research in finance (the International Moscow Finance Conference), usually held in November. It also runs a joint LFE-ICEF weekly research seminar.

Most of ICEF graduates continue their studies on postgraduate programmes in Russia or abroad. The best ICEF graduates receive scholarships to continue their studies on MSc or PhD programmes at LSE and other foreign universities.

The ICEF academic programme is governed by its International Academic Committee, which includes representatives from LSE and HSE as well as the ICEF Directorate. The LSE project provides advice and support to the College on all aspects of its work, from research assessment to teaching quality assurance.

The bulk of ICEF's income derives from student fees but the LSE project is financed by a consortium of major Russian banks. These banks and other sponsors have enabled the College to charge lower fees and establish several levels of discounts for students.

Coordination of ICEF project at LSE is supported by:

photograph of Richard JackmanProject Director
Professor Richard Jackman
Department of Economics
Tel: +44 (0)20 7955 7499

photograph of Miriam GrossmanovaProject Manager
Ms Miriam Grossmanova
Department of Economics
Tel: +44 (0)20 7955 6512


LSE ICEF Project in 2014-2015

ICEF Director Professor Sergey Yakovlev awarded honorary degree at University of London International Programmes Graduation

photograph of ICEF Director Sergey YakovlevProfessor Sergey Yakovlev (pictured) was presented with an Honorary Doctorate of Science (Economics) by Professor Sir Adrian Smith, Vice-Chancellor of the University of London at the Graduation Ceremony in London. 

Dr Mary Stiasny, Pro Vice-Chancellor (International) and Chief Executive of the University of London International Programmes said: "Professor Yakovlev has demonstrated a clear vision for the education and transformation of higher education in Russia. His driving inspiration was to raise the importance of studies in economics and finance to international levels of excellence. The role he has played in higher education has been transformative, not only in Russia, but in uniting our two education cultures."

For further information visit the University of London| webpage.

International Workshop on Financial Economics, 7-8 November 2014

The list of speakers include Terrence Hendershott| (Haas School of Business, University of California Berkeley), Pablo Beker| (University of Warwick), Bart Taub| (Adam Smith Business School, University of Glasgow).

For more information, please see the Laboratory in Financial Economics|.

ICEF Awards Thousandth Diploma at the Graduation Ceremony

The 2014 Graduation Ceremony took place on September 11th at the official residence of the British Ambassador, in the presence of the Deputy Head of Mission at the British Embassy, Martin Harris. It was this year that ICEF awarded its thousandth diploma since its establishment 17 years ago.

ICEF BSc Graduates 2014Out of 121 students who graduated, 22 received first class, and 38 upper second-class honours degrees from the University of London. And 11 were awarded HSE diploma with honours (“red diploma”). Additionally, 36% of ICEF graduates will continue into master's programmes abroad, and many of them have received scholarships to universities such as the London School of Economics, MIT, Oxford, Columbia University, and UCLA. Three graduates (one undergraduate and two masters) were admitted to PhD programmes at UCLA, the University of California at Berkeley and the University of Pennsylvania.

The importance of international cooperation in the field of education and science was highlighted by Deputy Head of Mission at the British Embassy in Moscow, Martin Harris, and Vice-Chancellor of the University of London Professor Sir Adrian Smith. "The embodiment of a line for the educational, economic, and culture integration of our country into Europe was the main achievement of ICEF graduates", according to VTB 24 President and CEO Mikhail Zadornov, who is also a member of HSE’s board of trustees.

photograph of Richard Layard 2014|The Ceremony was special this year since it was attended by a Guest of Honour and the College’s founder Professor Lord Richard Layard| from LSE. Lord Layard (pictured right) said he was also certain that despite all difficulties and disagreements, Russian is culturally a European country and will eventually become part of a Greater Europe. In addition, HSE President Alexander Shokhin said ICEF should not stop after its first thousand graduates: "At one time, there was such a thing as 'twenty-five-thousanders' specialists that helped build socialism in rural areas. I hope that there will come a time when we will have our 25,000th graduate who will help build capitalism – not only in Russia, but on a global scale as well.”

For more information please visit the ICEF| pages. 


LSE ICEF Project in 2013-2014

International Conference and Workshop: Insolvency 2014 - Current Problems and Experiences

LSE.ICEF is inviting you to an

International conference and workshop:

Insolvency 2014 - Current Problems and Experiences,
27-28 March 2014

organised in cooperation with ICEF Moscow and University of Economics, Prague.

Venue: London School of Economics, New Academic Building (NAB), 2nd floor
Dates: Thursday 27 March 10:00-16:00, Room 2.06
             Friday 28 March 09:30-12:00

The event is free to attend however an online registration is required. For further information and registration instructions please contact Ms Miriam Grossmanova| or go to the conference website here|.

Her Royal Highness Princess Anne visits ICEF Moscow

On 4 February 2014 Princess Anne, who is Chancellor of the University of London, visited the International College of Economics and Finance in Moscow on her way to Sochi, where she was leading the UK delegation to the Olympic games. In welcoming the Princess HSE President Alexander Shokhin paid tribute to the London School of Economics role in contributing to the College's success. He said " The fact that The Princess Royal chose the HSE as one of the places she is visiting in Moscow certainly indicates that our project has been successful; much of the credit for that goes to our colleagues - professors of the London School of Economics. We attach great importance to her visit, and we believe that it will contribute to ICEF's further development and the expansion of its educational programmes". 

Afterwards, ICEF Director Sergey Yakovlev and LSE ICEF Project Director Richard Jackman introduced the Princess to ICEF teachers, students, alumni and staff (pictured below). Princess Anne was particularly interested in how the co-operation between HSE and LSE had influenced the transformation of educational standards and the approach to learning at the HSE. She also asked students, including some non-Russian students, about their reasons for choosing ICEF and their academic and career plans.

              photograph of Princess Ann at ICEF with Richard Jackman and Sergey Yakovlev 

              photograph of Princess Ann at ICEF

              photograph of Princess Ann at ICEF

              photograph of Princess Ann at ICEF     

Further information can be found at the HSE News| pages. 

LSE Pro-Director Professor Paul Kelly at ICEF Graduation Ceremony 2013

photograph of Paul Kelly at the ICEF Graduation Ceremony 2013Professor Paul Kelly (pictured left) visited ICEF on 25-26 September 2013 and met with the ICEF Directors Sergey Yakovlev and Oleg Zamkov, as well as with the ICEF academic staff and students. He also attended the ICEF Graduation ceremony on 25 September at the residence of Timothy Barrow, Ambassador of the United Kingdom to the Russian Federation where he gave a short speech and congratulated all ICEF students on their achievements.

photograph of the ICEF Graduation Ceremony 2013

Out of 107 undergraduate students who graduated this year, 29 received first class and 42 upper second-class honours degrees from the University of London. In addition the fourth cohort of students completed the ICEF Masters programme in Financial Economics and 16 students were awarded the Masters degree. Many of the graduates will continue their education at other leading universities, including those in the UK.  The graduation ceremony was attended also by Professor Sir Adrian Smith, Vice-Chancellor of the University of London, Vadim Radaev, HSE First Vice-Rector and by the college ‘godfathers’ Alexander Shokhin, HSE President, Sergey Dubinin, Head of the ICEF Board of Trustees, Richard Jackman, LSE.ICEF Director and both, ICEF Director Sergey Yakovlev and the Deputy Director Oleg Zamkov.

For more information please visit the ICEF| pages. 

ICEF Moscow - Job Openings

Assistant Professor in Economics
Assistant Professor in Financial Economics

Deadline: 22 November 2013

For more information, please refer to the ICEF| pages.

Third International Moscow Finance Conference, November 8-9, 2013

Keynote speakers: Rajnish Mehra|, University of California Santa Barbara and Marco Pagano|, University of Naples.

For more information, please see the Laboratory in Financial Economics| website.


LSE ICEF Project in 2012-2013the logo of ICEF for its 15 years

ICEF is celebrating the 15th Anniversary

New LSE Director Craig Calhoun in Moscow 

Craig Calhoun giving a lectureProfessor Calhoun visited ICEF in September 2012 at the occasion of the 15th anniversary of ICEF’s establishment. He gave an open lecture at the HSE International College of Economics and Finance (ICEF) on ‘Social and Political Challenges Facing Global Capitalism’. More information can be found at the HSE News| page. 

MSc Graduation 2012Professor Calhoun also attended the ICEF Graduation Ceremony, which was followed by the Reception for ICEF Alumni at the Residence of the British Ambassador. He personally presented MSc students with their special LSE letters in recognition of the academic links between ICEF and LSE. For further information, please visit the HSE pages|.

LSE ICEF Director Professor Jackman given an Honorary Award of HSE

photograph of Richard JackmanProfessor Richard Jackman| (pictured) has been presented with a medal by the rector of the Higher School of Economics (HSE), Professor Yaroslav Kuzminov, who honoured Professor Jackman’s long standing work and involvement in the ICEF project since it was established 15 years ago, in partnership with LSE. Professor Kuzminov said: ‘Richard Jackman is the first foreigner to receive this award, the Honorary Award of the HSE, and he fully deserves this honour’. The award was presented at the ICEF graduation ceremony held at the Residence of the British Ambassador in Moscow on Tuesday 25 September, in the presence of the British ambassador to Russia and LSE Director Professor Craig Calhoun.

Professor Janet Hartley presented with Letter of Commendation of the HSE

photograph of Janet HartleyNovember 26, 2012  A former Pro-Director for Teaching and Learning at the London School of Economics, Professor Janet Hartley|, has been presented with the Letter of Commendation of the HSE for the long-standing work and involvement in the ICEF project since it was established 15 years ago.

Please see more on the ICEF| website.


Second International Moscow Finance Conference, November 9 -10, 2012

Conference will be held within the framework of ICEF 15th anniversary.
Keynote speaker: Dr Dimitrios Tsomocos, Oxford University.

For more information please see the announcement at the ICEF Events| and ICEF News| pages.   


Past Activities

LSE ICEF Project in 2011-2012

First International Moscow Finance Conference

November 19-19, 2011

Hosted by the International Laboratory in Financial Economics (LFE) at the International College of Economics and Finance (ICEF) Higher School of Economics, Moscow (Pokrovski Boulevard, 11).

More information about the First International Moscow Finance Conference|.

LSE ICEF Project in 2010-11

In September 2010 University of London degrees were conferred on 79 ICEF undergraduate students (18 with first class honours) and HSE master degrees on further 20 students, in a ceremony at the British Embassy in Moscow attended by the new Vice Chancellor of the UoL, Professor Geoffrey Crossick and by LSE Pro Director Professor Janet Hartley.

Former LSE Director Howard Davies visited ICEF Moscow in November 2010 for the third year running. He gave a public lecture entitled "Europe-The Lost Continent?", which generated a great deal of interest.

In January, 2011 LSE organized a Reception on the occasion of the visit by ICEF Director Sergey Yakovlev. The reception was hosted by Pro Director Janet Hartley and was attended by a large number of ICEF Alumni studying or working in London.  

Photograph of the reception with Richard Jackman Photograph of the reception with Richard Jackman and students

In 2010, the total number of ICEF students has grown by 20%. And more than 50% of ICEF's BSc graduates received either a First or Upper second class degree. Almost half of ICEF graduates went on to continue their education on Masters and PhD programs at leading world universities.

ICEF will continue in its efforts to become an integral part of the international research and educational community. ICEF plans to open a new "Accounting and Finance" degree on the Bachelor program, which has proven to be one of the most popular degrees offered by the University of London in association with the LSE via the International Programmes system.

Most recently, ICEF has set up an International research laboratory in Financial Economics with the participation of LSE. In November 2011 ICEF International Laboratory in Financial Economics (LFE) plans to host its First International Conference on Financial Economics|.

BSc 2010 Graduation  

BSc Graduation 2010

MSc 2010 Graduation 

MSc Graduation 2010