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+7 (495) 772-95-90
Address: 11 Pokrovsky Bulvar, Pokrovka Complex, room S724
SPIN-RSCI: 2637-1510
ORCID: 0000-0002-5565-682X
ResearcherID: K-4786-2015
Scopus AuthorID: 15925928600
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S. Yakovlev
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Maxim Nikitin

  • Tenured Professor
  • Maxim Nikitin has been at HSE University since 2006.


ICEF research capacity development

Education and Degrees

  • 1999

    PhD in Economics
    University of Pittsburgh

  • 1999

    Doctoral programme in Economics
    University of Pittsburgh

  • 1993

    Master's in Economics
    European University Institute in Florence

  • 1992

    Master's in Economics
    Central European University

  • 1990

    Candidate of Sciences* (PhD) in Economics
    Lomonosov Moscow State University

  • 1987

    Degree in Economic Planning
    Lomonosov Moscow State University

  • 1987

    Degree in Economics
    Lomonosov Moscow State University

* 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.

Professional Interests

Awards and Accomplishments

Student Term / Thesis Papers

Full list of of student term / thesis papers

Courses (2020/2021)

Courses (2019/2020)

Courses (2018/2019)

Courses (2015/2016)

Editorial board membership

2006: Member of the Editorial Board, Российский экономический журнал.

Participation in conferences


HSE Conferences

  • XIII Annual Scientific Conference of the SU-HSE (Moscow, Russia), April, 2012, "Liability and Disputes under Third-Party Financing of Litigation"
  • XII Annual Scientific Conference of the SU-HSE (Moscow, Russia), April, 2011, "Double contagion: The impact of globalization and exchange rate regime on financial Fragility"
  • XI Annual Scientific Conference of the SU-HSE (Moscow, Russia), April, 2010, "Pre-trial Bargaining and Litigation Outcomes: The Role of Self-Serving Bias", "Settlement and Litigation under Divergent Beliefs."
  • X Annual Scientific Conference of the SU-HSE (Moscow, Russia), April, 2009, "Bank Spreads and Business Cycles ". 
  • IX Annual Scientific Conference of the SU-HSE (Moscow, Russia), April, 2008
  • VIII Annual Scientific Conference of the SU-HSE (Moscow, Russia), April, 2007  
  • VII Annual Scientific Conference of the SU-HSE (Moscow, Russia), April, 2006
  • International Conferences
  • LBS (30/05/2014) London (paper presentation at research seminar)
  • University of Belgrad conference (19/09/2012) Serbia
  • The 22nd Stony Brook Game Festival of the Game Theory Society. (Groan Brook, USA). Paper: "Playing against an Apparent Opponent: Liability and Litigation under Self-Serving Bias".
  • National Bank of Serbia, Invited presentation, Belgrade, Serbia, November 2010
  • Rimini Conference on Economics and Finance, Rimini, Italy, June 2010, "The Impact of Globalization and Exchange Rate Regime on Financial Fragility."
  • Midwest Macroeconomics Meetings, Michigan State University, East Lansing, MI, USA, April-May 2010
  • Missouri Economics Conference, Columbia, MO, March 2010
  • Первый Российский экономический конгресс, Москва, декабрь 2009, "Bank Spreads and Business Cycles".
  • Eastern Finance Association Annual Meeting, New Orleans, USA, April 18 – 21, 2007
  • National Bank of 17-th International Conference on Game Theory, Stony Brook, NY, USA, July, 2006
  • ASSET 2006 Annual Meeting at Universidade Catolica Portuguesa, November, 2006
  • Midwest Macroeconomics Meetings, Washington University, Saint Louis, MO, USA, May, 2006
  • Conference on Open Macroeconomics and Development. Aix en Provence, France, April, 2006
  • European Economic Association Meetings, Amsterdam, Holland, August, 2005


Timetable for today

Full timetable

ICEF Master's Programme Included in Top-100 of QS Business Masters Rankings

MSc in Financial Economics, offered by ICEF, has been ranked 89th out of 166 programmes. In total, five HSE programmes were included in the QS Business Rankings this year.

Five HSE Master's Programmes Included in Top 100 of QS Business Masters Rankings

This year, the Master’s Programme ‘Strategic Management in Logistics’, offered by the HSE Graduate School of Business, ranked 34th in the Supply Chain Management Programme ranking, a new addition to the QS Business Masters Rankings. This is the fifth HSE programme to be included the QS Business Rankings. Four others have ranked among the top 100 for several years now.

We Forecast a Severe Global Recession

ICEF held a round table on Global Economy Challenges in 2020. Mr Thanassis Gontikas, Senior Vice-President of Edmond de Rothschild Bank (EdR) in Switzerland, was invited as a speaker.

‘Successful Admissions Is the Result of Daily Work over Several Years’

Academic Supervisors of HSE programmes have been awarded bonuses for activities contributing to the university’s development. Active attraction of international students to HSE has become one of the assessment criteria.

ICEF Education: Focusing on Internationalisation at Home

Academic Heads of the ICEF undegraduate and graduate programmes kindly share the unique features and advantages of ICEF study programmes for students.

ICEF Master’s Programme: 10 Years of Success

The ICEF Master’s Programme in Financial Economics, which was launched in September 2007 with the support of several Russian and international corporate donors, turns 10 this year. Below, the programme’s Academic Supervisor Maksim Nikitin discusses some of the achievements the programme has made over the last decade, as well as some of the changes that will be implemented over the next academic year.

ICEF Master’s Programme: Financial Experts Today

On November 13, 2016, the Master’s Programme in Financial Economics will hold an Open House. Maksim Nikitin, Academic Supervisor of the programme, spoke to the HSE News Service about who contemporary financial experts are and where ICEF Master’s graduates find jobs today.

HSE Researchers Receive Gaidar Award for Young Economists

HSE Professors Alexander Tarasov and Roman Zakharenko have received the Gaidar Award for Young Economists for their article on the connection between trade costs and defense spending. A special award also went to the paper ‘Bad News: An Experimental Study on the Informational Effects of Rewards,’ whose authors include HSE Associate Professor Anton Suvorov. 

‘Our Key Advantage is the International Nature of the Programme and Unique Combination of Theory and Practice’

Master’s programme in Financial Economics of HSE’s International College of Economics and Finance is taught entirely in English and strives to attract applicants who are interested in macro and microeconomics, corporate finance, and econometrics. Maxim Nikitin, the head of the programme has talked to HSE News Service about the programme.

‘Our Programme Keeps Developing!’

Maxim Nikitin, HSE Professor and Academic Supervisor of the ICEF Masters Programme in Financial Economics, tells us about the programme’s achievements and innovations, about its intake procedure in 2015, and about the 2014 and 2015 graduates.

From My Point of View, That Was the Best Outcome

Artem Neklyudov, ICEF BSc Graduate 2007, last year completed his PhD in finance at Carnegie Mellon university. In this interview he talks about what influenced his decision to become an academic, how to find work after graduating, and why research involves teamwork.

‘Changing Europe’ In Moscow

From August 1st – 5th, an international Summer School on East-European studies took place at the Higher School of Economics. This time, participants discussed the influence of the global economic crisis on the politics and economies of Central and Eastern European countries.