Master's program "Public Financial Management"

​​​​​Набор: 2017 год.

Program structure: full-time

Program duration: 2 years

Faculty: Finance and Economics

Department: Public Finance Department

ICAEW as Partner in Learning (Institute of Chartered Accountants of England and Wales)

Supervised by:

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Sergey Vladimirovich Anureev,

Doctor of Economic Science, professor at Department of Public Finance, Postgraduate Diploma Program at University of California Berkeley, guides 12 courses held in English language, including author's courses on Public Finance, Finance Theory, Financial and Monetary Policy 







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Svetlana Petrovna Solyannikova,

Candidate of Economic Science, docent, head of Public Finance department, a leader in charge of more than 30 scientific research projects executed at the request of the Central Office of the Government of the Russian Federation, the Ministry of Education and Science of the Russian federation, the Ministry of Finance of the Russian Federation





​Program description

The program target is to train the professionals:

  • possessing a unique set of knowledge and skills in public finance and fluent professional English;
  • able to develop the solutions on public finance challenges on a basis of current trends analysis;
  • able to analyze the processes of macroeconomic and fiscal risks in the global context;
  • combining public and corporate finance knowledge basis for the development of realistic budgetary policy

Program unique features:

  • basic courses of the Financial University are held in English with a respect to USA and UK educational standards 
  • part of the courses are held on a basis of ICAEW (Institute of Chartered Accountants of England and Wales) study materials, the preparation to the ICAEW CFAB exams is executed
  • Three courses are held on a basis of AGA CGFM (Association of Government Accountants, Certified Government Financial Manager) study materials, the preparation to the respective CGFM exams is executed

The area of professional activities, employment and practice

A combination of public finance management knowledge, professional English language and confirmation of those by the leading international professional certificates enables graduates to work for:

  • The Ministry of Finance of Russian Federation, the Federal Treasury and other public finance authorities of Russian Federation, control and audit bodies, Financial University partner organizations and companies, those structural divisions on scientific research and international cooperation;
  • Government Relations departments of domestic and international companies taking part in execution of governmental budgetary funded programs;
  • analytical departments of Accounts chamber of Russian Federation, control and audit bodies of Russian regional administrations, audit and consulting companies;
  • Representative offices of international financial organizations and large commercial banks specializing on problems of business and investment environment in the Russian Federation
  • The program internship takes place in financial, treasury, control and audit bodies, Government Relations departments of firms and banks acting as a partners of Financial University  

Competitive advantages of the program

  • Program is executed by the Public Finance Department, formed as a successor to the Chair of Finance, which had been one of the oldest and crucial chairs since the times of Moscow Financial Institute. A large number of chiefs and leading stuff of financial authorities of the Russian Federation, including the Minister of Finance of the Russian Federation Anton Germanovich Siluanov (doctor of economic science, professor of Public Finance Department), have graduated from the Chair of Finance.
  • Involvement of the chiefs and leading stuff of financial and treasury bodies of the Russian Federation into the study process
  • The only program on Public Finance in English language among the CIS countries and Eastern Europe
  • Regular work with publications in English language in Scopus, Web of Science, IMF, the World Bank, OECD, ministries of finance and central banks of G20 countries
  • ICAEW CFAB certification (6 courses of АСА first level), preparation to the 3 independent AGA CGFM examinations

Additional competences formed by the master's program:

  • Ability to reveal the trends of public finance evolution in Russia and foreign countries, assess the impact of public finance on social and economic processes and take the reasonable decisions on public finance management (MPAC-1);
  • Ability to analyze financial statements of a public sector and use the analysis results for strategic and operational decision-making in a process of public finance management. (MPAC-2);
  • Ability to use the legal acts for reasoning and execution of decisions on public finance management. (MPAC-3);
  • Ability to assess the effectiveness of public finance management (MPAC-4);
  • Ability to assess short-term and long-term consequences of public finance management decisions, analyze their influence on investment project and cash flows in public and production sectors of economy (MPAC-5).

Program courses 

1st year:

Compulsory courses:

  • Modern Concepts of Finance and Credit (instructed in English, unique course of the Financial University professors, provides an exemption from ICAEW Business and Finance)
  • Modern Financial Markets (instructed in English, provides an exemption from ICAEW Law)
  • Advanced Corporate Finance (instructed in English, matches ICAEW Management Information and Financial Management)
  • Financial and Monetary Regulation (instructed in English, unique course of the Financial University professors)
  • Mathematical methods in finance (instructed in English, matches CFA Level 1)
  • Financial Information Reliability Control (instructed in English, matches ICAEW Assurance)
  • Modern Principles of Taxation (instructed in English, provides an exemption from ICAEW Principles of Taxation and Tax Compliance)

Elective courses:

  • Information Technologies in Scientific Research
  • Philosophy of science

2nd year:

Obligatory courses:

  • International Public Sector Accounting Standards (instructed in English, matches ICAEW Accounting and AGA CGFM Governmental Accounting, Reporting and Budgeting)
  • Financial Basis of Public Authority (instructed in English, matches AGA CGFM Government Environment)
  • Public Financial Management and Control (instructed in English, matches AGA CGFM Government Financial Management)

Elective courses:

  • Strategic Public Financial Management (instructed in English, based on CIPFA Strategic Public Finance study materials)
  • Program Budgeting in Public Financial Management
  • Public Debt Management and Public Assets Management (instructed in English, based on CPFO Public Debt Management study materials)
  • Budgetary Investments and Development Institutions 

Professors, lecturers

Financial University professors and teachers delivering the courses are proficient in scientific and teaching activities, have a command of professional English language and practical experience. 

In addition to the courses taught by the professors and lecturers of Financial University, the studies, workshops and business-games are held by Anna Borne, regional manager of ICAEW London Headquarter, and by Olga Vitalie​vna Solovyeva, scientific director of the ICAEW program in a Faculty of Economics of Lomonosov Moscow State University, doctor of economic science, professor.

Offical partners

Contact information of the Public finance department

  • Address: Maliy Zlatoustinskiy Pereulok 7, building 1, room 224
  • Tel. number: +7(495)625-29-26 (55-43)
  • E-mail: finance@fa.ru ​