Western Caspian University

School of Economics

PhD in Mathematics, Head of the Department of General Economics

Afaq Hasanova Head of the Department of Management and Tourism, Associate Professor, PhD in Physics and Mathematics (Candidate of Physical and Mathematical Sciences in Mathematics) Academic Focus Areas: All sections of Higher Mathematics (in Azerbaijani, Russian, and English) Statistics Economics Microeconomics Macroeconomics International Economic Relations Financial Analysis (in Azerbaijani, Russian, and English) Education and Professional Background: Afaq Hasanova was born on August 15, 1965, in Baku. In 1982, she graduated from Secondary School No. 251 in Baku with a gold medal. The same year, she was admitted to the Faculty of Mechanics and Mathematics at Baku State University and graduated with honors in 1987. In 1990, she was admitted to the full-time postgraduate program at the Institute of Mathematics and Mechanics of the Azerbaijan National Academy of Sciences. She successfully defended her PhD dissertation in 1995. During her postgraduate studies, she also began her academic teaching career. From 1990 to 1995, she worked at the Azerbaijan State Oil Academy (now Azerbaijan State Oil and Industry University) in the Department of Higher Mathematics. Since 1996, she has been working at Western Caspian University in the Department of Economics, Marketing, and Management. She has consistently participated in international projects and has gained international professional experience by working at Nottingham Trent University (UK), Indiana and Kansas Universities (USA), and Bilgi University (Turkey). She has been awarded numerous international diplomas and certificates. Afaq Hasanova is the author of several scientific works, articles, and teaching materials. Selected Publications: “Principles of Radiation for the Helmholtz Equation in N-Dimensional Layer with Impedance Boundary Conditions”, Turkish Journal of Mathematics, Scientific and Technical Research of Turkey, Turkey, 1996. “Applied Economics”, (Junior Achievement), textbook, Western University, Baku, 2000. “Collection of Lectures and Exercises on Operational and Production Management”, teaching aid, Baku, 2014. (in Russian) “Some Applied Aspects of Game Theory”, Scientific News, Western University, Baku, 2015.

School of Economics

Professor, Doctor of Economic Sciences

Graduated with honors in 1982 from the Azerbaijan State Institute of National Economy named after D. Bunyadzade, majoring in Finance and Credit. From 1985 to 1988, pursued full-time postgraduate studies in the same field at the Azerbaijan State Institute of National Economy. In 1988, defended a candidate dissertation on the topic "State Insurance in the Agro-Industrial Complex System" in Leningrad (now St. Petersburg) in the specialty of Finance, Money Circulation, and Credit. In 1989, was awarded the degree of Candidate of Economic Sciences. Began pedagogical activity in 1989 as an assistant at the “Finance” Department of the Baku Branch of the Leningrad Finance and Economics University named after N.A. Voznesensky, by appointment of the Ministry of Education of the Russian Federation. Later held the positions of lecturer, senior lecturer, associate professor, and professor at the Department of Finance of the Azerbaijan State University of Economics (UNEC). In 2010, defended a doctoral dissertation titled "Management of Insurance Resources in the Process of Formation of the National Insurance Market in Azerbaijan." In 2011, was awarded the degree of Doctor of Economic Sciences by the Supreme Attestation Commission under the President of the Republic of Azerbaijan and in 2017 received the academic title of Professor. He is the author of the first insurance textbook written in the Azerbaijani language. Multimedia lectures on the subject “Insurance” by N. Khudiyev can be found in the Insurance course section of www.edu.cbar.az. He is the author of over 100 scientific works in the field of finance and insurance, including: 3 textbooks 2 teaching aids 2 methodological guidelines 12 subject syllabi 3 monographs and numerous scientific articles published both in Azerbaijan and abroad. He is a member of the Teaching and Methodological Council and the Dissertation Council of the Azerbaijan State University of Economics. Selected Publications: “Issues of Globalization of National Insurance Markets in the CIS”, Finance Journal, Moscow, 2004, No. 2. “Perspectives and Paths of Reforming the Oligopolistic Model of Insurance Markets in the CIS”, Finance Journal, Moscow, 2013, No. 3. “Practical Directions of Applying the Singapore Model for Increasing Foreign Investment in Azerbaijan’s Non-Oil Sector”, Bulletin of Baku State University, Series of Socio-Political Sciences, No. 3, 2019, pp. 75–84. “International Experience on Insurance of Forms from Export Risks: Existing Problems and Perspectives in Azerbaijan”, 55th International Scientific Conference on Economic and Social Development, Baku, June 18–19, 2020. “Current Status and Socio-Economic Aspects of the Agricultural Insurance System in Azerbaijan”, 70th International Scientific Conference on Economic and Social Development, Baku, June 25–26, 2021, pp. 271–276. “A Substantive Scientific-Empirical Scenario of the Financial Potential of the Karabakh Economic Region Towards the Mid-21st Century”, Scientific-Practical Conference on Building the New Economy in Karabakh: Development Impulses from Aghdam, Aghdam–Baku, September 16–17, 2021. Educational Materials (Approved by the Ministry of Education of the Republic of Azerbaijan): Curriculum: Insurance Business (Bachelor level). Order No. 545, dated April 7, 2011. Curriculum: Theoretical and Practical Issues of Insurance (Master’s level). Order No. 2210, dated December 30, 2011. Teaching Aid: Fundamentals of Insurance, UNEC Publishing, Order No. 790, July 9, 2014. Baku, 2015, 118 pages. Textbook: Insurance Business: Modern Course, UNEC Publishing, Order No. 790, July 9, 2014. Baku, 2015, 462 pages. Textbook: Insurance Business (for higher education institutions), Order F-121, dated February 12, 2018. Baku, 2018, 416 pages.   Monographs: State Insurance and Improvement of Insurance Relations, Baku: Azərnəşr, 1993. Organization of Credit Resources and Insurance of Credit Risks in Commercial Banks, Baku: Azərnəşr, 2000. Insurance Business: The Financial Potential of the Insurer and Management of Insurance Resources, Baku: Azərnəşr, 2003.

School of Economics

PhD in Economics , Associate Professor

In 1982, She graduated with honors from the Faculty of Accounting and Economics at the Bunyadzadeh Institute of National Economy (currently UNEC). In 1986, She earned the degree of Candidate of Economic Sciences (now equivalent to a PhD in Economics) from the Institute of Economics of the Azerbaijan National Academy of Sciences (ANAS). In 2006, She was awarded the academic title of Associate Professor by the Higher Attestation Commission. In 1999 (August–November), for the research conducted on the topic of the "Dutch disease problem" at the University of Oklahoma, USA, She was awarded a diploma by the university. Scientific Publications [He/She] is the author of nearly 70 scientific research works. Around 20 of these have been published in international journals, while the rest appeared in national publications. Some recent international publications include: “Modeling The Impact Of Innovation On Industrial Competitiveness And Regulation Of Leasing Relations” – 7th International Conference Science and Society – Methods and Problems of Practical Application, February 15, 2019, Vancouver, Canada; “The Problem of Migration of the Turkish People and Labor Market Liberalization” – XV International Scientific and Practical Conference Social and Economic Aspects of Education in Modern Society, July 25, 2019, Warsaw, Poland. Published in local journals: "Industrial Policy of Azerbaijan as an Essential Attribute of State Participation in Economic Development", Western Caspian University Scientific News, Series of Social and Technical Sciences, Issue 3, 2018. Educational Materials Management Accounting (textbook, co-author), Baku, 2017 Management Accounting (methodical guide, co-author), Baku, 2018 She is also the author of around 20 curricula and methodological guides for the specialties of Finance, Accounting, and Auditing. She has participated in scientific-practical conferences held in Germany, Canada, Poland, Russia, Ukraine, and Kazakhstan, where research papers were published. Since 2006, She has been working as an Associate Professor at Western Caspian University.

School of Economics

PhD in Economics

Ashraf Abulfaz oglu Hasanov was born on June 16, 1951, in Sabirabad city. He studied at Sabirabad Secondary School named after Sabir from 1958 to 1968. Between 1968 and 1972, he pursued higher education at the Faculty of Physics and Mathematics of the Lenin Azerbaijan State Pedagogical Institute (now ASU). From 1976 to 1978, he completed a two-year advanced training course at the Central Economic-Mathematical Institute of the USSR Academy of Sciences on the topic “Models for Processing Accounting and Forecast Indicators in Agricultural Sector Using Computers.” Upon the decision of the Scientific Council, he was recommended for full-time doctoral studies (aspirantura). From 1978 to 1981, he studied at the same institute as a full-time postgraduate student and, in 1983, defended his dissertation titled “Mathematical Models of the Optimal Structure of Agro-Industrial Associations in Azerbaijan,” earning the degree of Candidate of Economic Sciences. Between 1982 and 1990, he worked at the Republican Computing Center of the State Agro-Industrial Committee of the Azerbaijan SSR as a programmer, sector head, department head, and deputy director. From 1990 to 1998, he served as the director of the center. He worked as an economic advisor to the Minister of Agriculture from 1998 to 2003, as a licensed auditor from 2003 to 2005, as assistant to the Minister of Agriculture from 2005 to 2013, and as assistant to the Deputy Prime Minister from 2013 to 2015. Since December 2015, he has been retired. He holds the civil service rank of Chief Advisor. From 1982 to 2013, he gave part-time lectures in subjects such as Accounting, Management Accounting, and Financial Markets at institutions including the Azerbaijan State Oil and Industry University (formerly Oil and Chemistry Academy), UNEC, and Baku Business University. Currently, he works as a lecturer at the Department of Finance and Accounting at Western Caspian University. Selected Scientific Publications: Hasanov A.A. Transition to the digital economy and challenges in bachelors education. Materials of the scientific-practical conference of the State Statistics Committee of the Republic of Azerbaijan. 22.11.2019. HASSANOV, ASHRAF. Features of the economic development model of Azerbaijan and the problems of economic security of enterprises. The Scientific and Pedagogical News. 2020, No. 55. Гасанов Ашраф Абульфаз оглы. Особенности подхода к экономическому и социальному развитию освобожденных земель Азербайджана. Proceedings of the scientific-practical conference of the Azerbaijan Union of Economists. 10.02.2021. Гасанов Ашраф Абульфаз оглы. Основные направления социально-экономического развития Азербайджанской Республики в посткризисном периоде. Proceedings of the International Scientific-Practical Conference of Poltava State University (Ukraine). 07.05.2021. Hasanov A.A. Topical issues of teaching the subject "Audit" in the context of a digital economy. Materials of the scientific-practical conference of the Chamber of Auditors of the Republic of Azerbaijan. 01.09.2021. Hasanov A.A. Innovation management in the development of tourism in Azerbaijan. Materials of the republican scientific-practical conference titled “Global Challenges and Prospects in Economic Development” organized by Western Caspian University, dedicated to the 99th anniversary of National Leader Heydar Aliyev. 11 May 2022 / Published on 25.06.2022. Гасанов Ашраф Абульфаз оглы. Priority problems of financial market regulation. Global Challenges and Prospects in Economic Development – Proceedings of the republican scientific-practical conference organized by Western Caspian University, dedicated to the 99th anniversary of National Leader Heydar Aliyev. 11 May 2022 / Published on 25.06.2022.

School of Economics

PhD in Economics

Mansur Akif oglu Madatov PhD in Economics Lecturer at the Department of General Economics, Western Caspian University Personal Information: Born on January 12, 1976, in Aghdash, Azerbaijan. Education: 1983–1993 – Completed secondary education at the Physics, Mathematics, and Informatics Lyceum under Baku State University. 1993–1997 – Bachelor’s degree in International Economic Relations, Azerbaijan State University of Economics (UNEC). 1997–1999 – Master’s degree at the same university. Master thesis: “The Role and Features of Oil Contracts in Azerbaijan” 2000–2003 – Postgraduate studies at the Azerbaijan University of Architecture and Construction, Department of Construction Economics. 2007 – Successfully defended PhD dissertation titled “Domestic Market, Its Formation and Protection Problems” and was awarded the PhD in Economics. Currently a doctoral candidate at the Institute of Economics of the Azerbaijan National Academy of Sciences. Doctoral dissertation: “Measuring and Improving the Economic Efficiency of Human Capital Utilization” (under review). Professional Experience: 1998–2007 – Accountant at Azerbaijan University of Architecture and Construction. 2007–2021 – Expert at the Economic Policy Committee of the National Assembly (Milli Majlis) of the Republic of Azerbaijan. Since 2021 – Lecturer at the Department of Economic Theory, Baku Business University. Currently – Lecturer (part-time, 0.5 FTE) at the Department of General Economics, Western Caspian University. Monograph: World Trade Organization and Protection of the Domestic Market, Baku, 2008, 148 pages. Selected Publications in Web of Science Indexed Journals: Measuring the effectiveness of investment in education, Proceedings of the 7th International Conference on Control and Optimization with Industrial Applications, Vol. I, Baku, August 26–28, 2020, pp. 236–238. Problems of measuring human capital, Proceedings, Vol. II, pp. 224–226. Other Scientific Articles: Includes over a dozen articles focused on human capital, education economics, and income distribution, published in peer-reviewed Azerbaijani, Russian, and international journals, such as: Human capital as a development factor, International Law and Integration Problems, Baku, 2015. Approaches to the formation of the human capital concept, Construction Economics and Management, 2016. Human capital in the education system, Science and Business: Development Paths, Moscow, 2016. Analysis of income differentiation factors, Cooperation, 2018. The role of the family in forming human capital, Cooperation, 2019. Interrelation between the efficiency of human capital and economic growth, Audit, 2019. and more. Conference Participation: Participated in numerous national and international conferences in Baku, Kyiv, Moscow, and other cities. Topics include “The Impact of Education on GDP,” “Family Investment in Human Capital,” “Innovation in the Non-Oil Sector of Azerbaijan,” etc.

School of Economics

Lecturer

Asaf Garibov PhD in Economics, Associate Professor Western Caspian University, Department of Economics and Management Brief Academic Profile: Asaf Garibov holds a PhD in Economics and is an experienced associate professor with over 25 years of teaching and leadership experience in higher education. Throughout his career, he has served in senior academic and administrative roles across multiple universities. He has actively contributed to the academic and professional development of students and has participated in various research initiatives in the field of economics and management. Education: 1986–1991 – Moscow Institute of Management Major: Economics and Management in Construction – Engineer-Economist 1993–1996 – Nakhchivan State University, Postgraduate Studies Production Management – PhD in Economics Professional Experience: 1996–1999 – Nakhchivan State University – Senior Lecturer 1999–2016 – Nakhchivan State University – Head of Department, Associate Professor 2016–2020 – Baku Business University – Head of Department 2021–2024 – Baku Business University – Associate Professor 2024–present – Western Caspian University – Associate Professor Languages: Azerbaijani, Russian, Turkish, English Computer Skills: Microsoft Word, Excel, PowerPoint

School of Economics

Lecturer

Elshan Zohrap oglu Orujov Lecturer at Western Caspian University Deputy Director, World Hope International / Azerbaijan Personal Information: Born on January 16, 1988, in Qyryly village, Gazakh region, Azerbaijan. Education: 2005–2009 – Bachelor’s degree in International Relations, Azerbaijan University (graduated with honors). 2009–2010 – Completed mandatory military service in Military Unit “N” in Naftalan. 2010–2012 – Master’s degree in International Relations, Azerbaijan State University of Economics (UNEC). 2011 – Completed a 6-month training program on “Youth Work Management” in Lille, France. 2012–2016 – Doctoral studies in World Economy, Azerbaijan University. Professional Experience: 2013–2015 – Part-time lecturer at Azerbaijan University. 2016–2017 – Language specialist (English and French) at the Working Group for Assessing Damage Caused by Armenia’s Aggression Against Azerbaijan. Since 2012 – Deputy Director at World Hope International / Azerbaijan, a U.S.-based international humanitarian organization. Since 2021 – Part-time lecturer at Western Caspian University. Selected Publications: Orujov, E.Z. “Problems of Modern Relations between the Republic of Azerbaijan and the International Monetary Fund” – Republican Scientific Conference on Integration and Contemporary Scientific Issues, Lankaran University, 2017, pp. 194–196. Orujov, E.Z. “Analysis of Modern Relations Between Azerbaijan and the IMF” – Azerbaijan Agrarian Science, 2018, No. 2(251), pp. 138–140. Orujov, E.Z. “IMF Commitments During Global Financial Crises (1998–2010)” – Silk Road, 2017, No. 1, pp. 83–90. Orujov, E.Z. “The IMF During Global Financial Crises (1998–2010)” – 1st International Scientific Conference of Young Researchers, Qafqaz University, 2013, pp. 98–99. Orujov, E.Z. “The Role of the IMF Before Financial Crises” – Scientific News of UNEC, 2017, Vol. 5, pp. 136–142. Orujov, E.Z. “Historical Foundations and Global Role of the IMF” – Scientific Works of the Institute of Agricultural Economics, 2017, No. 4, pp. 196–201. Orujov, E.Z. “Financial Crises as a Product of the IMF and Developing Countries” – Cooperation, 2019, No. 1(52), pp. 174–179. Orujov, E.Z. “The IMF’s Relations with Developing Countries During Financial Crises” – Silk Road, 2017, No. 4, pp. 56–64. Orujov, E.Z. “Globalization: Economic, Political, and Social Impacts” – IV Republican Scientific-Practical Conference of Young Researchers, Baku, 2021. Orudzhov, E.Z. “Global Volatility and Financial Stability” – Ekonomika & Derzhava, Kyiv, 2017, No. 12, pp. 77–81. (in Russian) Orudzhov, E.Z. “Impact of International Capital Flows on the Crisis in Southeast Asia” – Issues of Management and Economics: Current Problems, XXV International Scientific-Practical Conference, Moscow: Internauka, 2019, No. 7(23), pp. 35–38. (in Russian)

School of Economics

Lecturer

Mammadali Mammadrasayev Lecturer, Western Caspian University Expert in Economics and Statistics Personal Information: Born on November 15, 1955, in Baku, Azerbaijan. Education: 1963–1973 – Completed secondary education at School No. 158, Yasamal District, Baku. 1973–1977 – Graduated from the Azerbaijan Institute of National Economy (now UNEC), Faculty of Finance and Statistics. Professional Experience: 1973–1981 – Economist and Senior Economist at the Central Statistics Office. 1981–1984 – Instructor and Senior Instructor at the Komsomol Committee of the October (now Yasamal) District. 1984–2000 – Chairman of the Trade Union Committee, Lecturer, and Deputy Director for Academic Affairs at the Baku Soviet Trade Technical College. 2000–2018 – Lecturer at the Baku College of Management and Technology (after the merger with the former technical college). Since September 2018 – Full-time Lecturer at the Western Caspian University. Additional Teaching Experience: Delivered part-time (hour-based) lectures at the Azerbaijan State University of Economics (UNEC) and the Academy of Labour and Social Relations. Subjects Taught: Statistics Fundamentals of Commerce

School of Economics

Lecturer

Pervin Shukurlu Lecturer, MA in Economic and Social Geography Western Caspian University Short Academic Profile: Pervin Shukurlu is a dedicated and innovative educator who specializes in teaching geography. With academic training from Baku State University and teaching experience across schools, universities, and private education centers, she prioritizes student development and modern, research-based teaching methods. Education: 2020–2022 – Master’s degree in Economic and Social Geography, Baku State University 2016–2020 – Bachelor’s degree in Geography Teaching, Baku State University Professional Experience: 2023–present – Lecturer, Western Caspian University 2021–2022 – Geography Teacher, Arab Village Secondary School, Masalli District 2020–2021 – Instructor, Private Educational Courses Skills: Subject teaching & classroom management Team collaboration with teaching staff Integration of STEAM methods Proficient in Microsoft Office Strong interest in research and methodology development