Alexey S. Makarov
- Department Head, Professor: HSE Campus in Nizhny Novgorod / Faculty of Economics / Department of Financial Management
- Alexey S. Makarov has been at HSE University since 2002.
Education, Degrees and Academic Titles
2011
Doctor of Sciences* in Finance, Monetary Circulation and CreditMari State Technical University
Thesis Title: The Theory And Methodology of a Firm Financial Policy Development
2005
Associate Professor2002
Degree in JurisprudenceLobachevsky State University of Nizhny Novgorod
1998
Candidate of Sciences* (PhD) in Accounting and StatisticsKazan Institute of Finance and Economics
1995
Degree in EconomicsAll-Russian Distance-Learning Institute of Finance and Economics in Nizhny Novgorod
1992
Degree in Radio Physics and ElectronicsLobachevsky State University of Nizhny Novgorod
* Candidate of Sciences
According to the International Standard Classification of Education (ISCED) 2011, Candidate of Sciences belongs to ISCED level 8 - "doctoral or equivalent", together with PhD, DPhil, D.Lit, D.Sc, LL.D, Doctorate or similar. Candidate of Sciences allows its holders to reach the level of the Associate Professor.
According to the International Standard Classification of Education (ISCED) 2011, Candidate of Sciences belongs to ISCED level 8 - "doctoral or equivalent", together with PhD, DPhil, D.Lit, D.Sc, LL.D, Doctorate or similar. Candidate of Sciences allows its holders to reach the level of the Associate Professor.
* Doctor of Sciences
A post-doctoral degree called Doctor of Sciences is given to reflect second advanced research qualifications or higher doctorates in ISCED 2011.
A post-doctoral degree called Doctor of Sciences is given to reflect second advanced research qualifications or higher doctorates in ISCED 2011.
Courses (2026/2027)
- Corporate Finance (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 2, 3 module)Rus
- Corporate Finance (Mago-Lego; Faculty of Economics)Rus
- ESG Concept: Transformation of the Economy and Business (Bachelor’s programme; Faculty of Economics field of study Economics, Management; 4 year, 1 module)Rus
- Economic Analysis of Organizations (Bachelor’s programme; Faculty of Economics field of study Economics; 1 year, 4 module)Rus
- Financial Policy of a Firm (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 2, 3 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 2 year, 1-3 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1-4 module)Rus
- Research Seminar "Professional Research in Business and Economics" (Bachelor’s programme; Faculty of Management (Nizhny Novgorod) field of study Economics, Management; 4 year, 1-3 module)Rus
- Research Seminar "Research Program in Business and Economics" (Bachelor’s programme; Faculty of Management (Nizhny Novgorod) field of study Economics, Management; 3 year, 1 module)Rus
- Past Courses
Courses (2025/2026)
- Corporate Finance (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 2, 3 module)Rus
- Corporate Finance (Mago-Lego; Faculty of Economics; 2, 3 module)Rus
- ESG Concept: Transformation of the Economy and Business (Bachelor’s programme; Faculty of Economics field of study Economics, Management; 4 year, 1 module)Rus
- Economic Analysis of Organizations (Bachelor’s programme; Faculty of Economics field of study Economics; 1 year, 4 module)Rus
- Financial Modeling of Investment Projects (Bachelor’s programme; Faculty of Economics field of study Economics, Management; 4 year, 2 module)Rus
- Financial Policy of a Firm (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 2, 3 module)Rus
- Fundamentals of Finance and Economic Analysis of the Company (Bachelor’s programme; Faculty of Economics field of study Economics, Management; 2 year, 3, 4 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 2 year, 1-3 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1-4 module)Rus
- Research Seminar "Professional Research in Business and Economics" (Bachelor’s programme; Faculty of Management (Nizhny Novgorod) field of study Economics, Management; 4 year, 1-3 module)Rus
- Research Seminar "Research Program in Business and Economics" (Bachelor’s programme; Faculty of Management (Nizhny Novgorod) field of study Economics, Management; 3 year, 1 module)Rus
- Research Seminar "Research Results Presentation Skills" (Bachelor’s programme; Faculty of Management (Nizhny Novgorod) field of study Economics, Management; 3 year, 4 module)Rus
Courses (2024/2025)
- Accounting and Analysis (Bachelor’s programme; Faculty of Management (Nizhny Novgorod) field of study Economics, Management; 2 year, 3, 4 module)Rus
- Corporate Finance (Advanced Level) (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1, 2 module)Rus
- Corporate Finance (Advanced Level) (Mago-Lego; 1, 2 module)Rus
- ESG Concept and Business Transformation (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 1, 2 module)Rus
- ESG Concept and Business Transformation (Mago-Lego; 3 module)Rus
- Economic Analysis of Organizations (Bachelor’s programme; Faculty of Economics field of study Economics; 1 year, 4 module)Rus
- Financial Policy of a Firm (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 4 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 2 year, 1-3 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1-4 module)Rus
- Modern research in finance (Postgraduate course field of study Postgraduate Studies; 2 year, 2 semester)Rus
- Research Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1, 4 module)Eng
- Research Seminar "Professional Research in Economics and Finance" (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 1 module)Rus
Courses (2023/2024)
- Accounting and Analysis (Bachelor’s programme; Faculty of Management (Nizhny Novgorod) field of study Economics; 2 year, 3, 4 module)Rus
- Corporate Finance (Advanced Level) (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1, 2 module)Rus
- Corporate Finance (Advanced Level) (Mago-Lego; 1, 2 module)Rus
- ESG Concept and Business Transformation (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 1, 2 module)Rus
- ESG Concept and Business Transformation (Mago-Lego; 3 module)Rus
- Economic Analysis of Organizations (Bachelor’s programme; Faculty of Economics field of study Economics; 1 year, 1, 2 module)Rus
- Financial Policy of a Firm (Bachelor’s programme; Faculty of Economics field of study Economics, field of study Economics; 4 year, 3 module)Rus
- Financial Policy of a Firm (Bachelor’s programme; Faculty of Economics field of study Economics; 5 year, 1, 2 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1-4 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 2 year, 1-3 module)Rus
- Modern research in finance (Postgraduate course field of study Postgraduate Studies; 2 year, 2 semester)Rus
- Research Seminar "Professional Research in Economics and Finance" (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 1 module)Rus
Courses (2022/2023)
- Accounting and Analysis (Bachelor’s programme; Faculty of Economics field of study Economics; 2 year, 1-4 module)Rus
- Corporate Finance (Advanced Level) (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 2, 3 module)Rus
- Corporate Finance (Advanced Level) (Mago-Lego; 2, 3 module)Rus
- Financial Policy of a Firm (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 3 module)Rus
- Mentor's Seminar (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1-4 module)Rus
- Research Seminar "Professional Research in Economics and Finance" (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 1 module)Rus
Courses (2021/2022)
- Accounting and Analysis (Bachelor’s programme; Faculty of Economics field of study Economics; 2 year, 1-4 module)Rus
- Advanced Corporate Finance (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1, 2 module)Rus
- Research Seminar "Actual Problems of the Economy and Finance of the Firm" (Master’s programme; Faculty of Economics field of study Finance and Credit; 1 year, 1-3 module)Rus
- Research Seminar "Professional Research in Economics and Finance" (Bachelor’s programme; Faculty of Economics field of study Economics; 4 year, 1 module)Rus
Editorial board membership
2010: Member of the Editorial Board , Финансовая аналитика: проблемы и решения.
Supervisor of the following Doctoral theses
for a Candidate of Sciences degree
- 1Estimating the impact of corporate governance on default risks of russian companies
- 2A. Averyanov The impact of disclosing information about a company's corporate social responsibility policy on its market value
Employment history
The total period of research and pedagogical work is 26 years, including 20 years at the Higher School of Economics - Nizhny Novgorod.
9
Oct
2017
Two Master’s Programmes at HSE Nizhny Novgorod Accredited by ACCA
Master’s programmes in Economics and Finance offered by the HSE campus in Nizhny Novgorod have received accreditation from the АССА (Association of Chartered Certified Accountants).