SumDU – one of the project winners of EU Erasmus+ Program competition 2019: Development of higher education potential

Education, Audiovisual and Culture Executive Agency (EACEA) announced the results of the competition 2019 in direction “Development of higher education potential” of the European Union Erasmus+ Program. Overall European Committee selected 163 projects including 8 projects with participation of Ukraine, that will commence their activity in October 2019. General budget of the projects for Ukraine is more than € 7 150 000.

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SumDU students – winners and awardees of the European Universities Combat Games

Sportsmen students of the Medical Institute of SumDU Kyrylo Samotuh, Artem Khomula, Anastasiia Antipina and Andrii Toroshanko (graduate of the Kyiv College of Communication that successfully passed entrance exam to SumDU Master’s degree programme) together with Ukrainian team took part in prestigious student competition – First European Universities Combat Games that took place in Zagreb (Croatia) from July 30th to August 3rd.

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Sumy State University is the first among Ukrainian HEIs according to the Webometrics Ranking

Spanish National Research Council published the first edition of the international Ranking Web of Universities (Webometrics). Now Sumy State University is the first among higher education institutions of Ukraine.

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SumDU archers won two medals for Ukraine at the World Universiade in Italy

On the last days of the World Universiade, which was held in Naples, Italy, the archers from Sumy State University won two bronze medals at once!

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Balatskyi Academic and Research Institute of Finance, Economics and Management of SSU is a leader of education in Economics, Management and Administration around our region. It has a quarter-century experience. The fact of quality and traditions of economic education shows that the Institute is one of the oldest economic schools in Sumy region, as well as a provider of personnel for enterprises, establishments and educational institutions.

Balatskyi Academic and Research Institute of Finance, Economics and Management was founded in May, 1991 as a Faculty of Economics, later as a Faculty of Economics and Management. In 2015, Faculty was reorganized into Balatskyi Academic and Research Institute of Finance, Economics and Management.

Nowadays, the Institute has more than 120 lecturers. Most of them are PhDs. Also, there are 20 Doctors of Science and Professors. Nowadays, the Institute is headed by its graduate Tetyana Vasylyeva, Doctor of Economics, Professor.

The Institute provides an opportunity for its students to learn subjects with the international professors. Especially, the Professor of London School of Economics and Politics – one of the 3 leading economic HEIs in the world – the Professor of the University New Brunswick (Canada), the Professor of Technical and Humanitarian Academy (Poland), as well as other Professors and Associate Professors from the USA, Belgium, Canada, Israel, Poland, Bulgaria and the Czech Republic have been working at the Institute.

Balatskyi Academic and Scientific Institute of Finance, Economics and Management presents:

• 8 undergraduate programmes;
• 11 postgraduate programmes;
• 11 PhD programmes.
• 5 Departments:

Economics, Entrepreneurship and Business Administration
Head: Leonid Hryhoriiovych Melnyk
Economic Theory
Head: Viktoriya Shkola
Marketing and Management of Innovative Activity
Head: Serhii Illiashenko
Head: Oleksandr Telizhenko
Finance and Entrepreneurship 
Head: Volodymyr Boronos


Balatskyi Academic and Scientific Institute of Finance, Economics and Management actively participates in the international educational grant and exchange programmes: Erasmus+, Baltic University Programme, Fulbright Programme, DAAD, ITEC and others.

Institute actively implements own programmes of the academic mobility:

  1. “Double degree” jointly with the University of Economics and Humanities (Bielsko-Biala, Poland).
  2. Scholarship programme “Parallel studying”, Master’s Degree programme jointly with Tianjin Technological University (Tianjin, People’s Republic of China).
  3. “Short-term studying/training” jointly with the Technical and Humanitarian Academy (Bielsko-Biala, Polish Republic).
  4. “Short-term studying /training” jointly with the University “Prof. D-r Asen Zlatarov” (Varna, Bulgaria).
  5. “Practice training” jointly with SITA Starol Sp.zo.o. (Chorzow, Polish Republic).

Current Projects:

  • Educational grant from Switzerland National Scientific Fund (SNF) within the programme of cooperation between Switzerland and Western European Countries SCOPES IZ74Z0_160564 “Increase of the energetic security through Switzerland-Ukrainian-Estonian institutional partnership”, which is realized by consortium, which included Institute of Economics and Environment St Gallen University (Switzerland), Faculty of Economics and Business-Administration University of Tartu, Balatskyi Institute FEM Sumy State University.
  • Jean Monnet module 53185-EPP-1-2014-1-UA-EPPJMO-MODULE “Using the best EU practices for sustainable economy forming in Ukraine”
  • Jean Monnet module 573581-EPP-1-2016-1-UAEPPJMO-MODULE on “EU trade opportunities and challenges for Ukraine”
  • Ukrainian-Lithuanian project “Development of institutional and economic basis for sustainable development and green economy forming at regional level”


Institute’s scientific interests comprise problems of the environmental economics and loss indemnity, which are connected with the environmental pollution; theories of the investment and innovative processes management mechanisms; methodologies and methodic to evaluate enterprise economic potential; formation of the territories social and economic development strategies; social and economic problems of the informational society, etc.

Scientific directions:


  • Public management Mechanism for Administrative and Territorial Systems
  • Intellectual Capital
  • International Cooperation in Space
  • Behavioral Economics
  • Corporate Culture and Management of Consumer Capital
  • Internet Channels for Products Promotion
  • Reengineering of Business Processes


  • Investment Potential of the Economy
  • Interaction of the Real and Financial Sectors of the Economy for Social and Macroeconomic Stability
  • Investments, Entrepreneurship and Startups


  • Environmental Marketing
  • Ecological and Economic Security
  • Health Economics
  • Ecological and Economic Problems of Power Supply, Air Emissions Control at the International Level


  • Managing the Enterprises’ Innovative Development
  • Marketing and Management of Innovations
  • Methodology of Innovative Solutions


  • Fundamental basics of Sustainable development and Development of the Information Society
  • The Sustainable Development Theory


  • Renewable Energy
  • Energy Conservation
  • Waste: Recycling, Reuse and Recover Raw Materials

Scientific R&D Labs of Institute

  • Lab of Social and Economic Research at the Department of Management;
  • Lab “AFiNa - Actual Finance Analytics” at the Department of Finance and Entrepreneurship;
  • Lab “Problem Scientific and Research laboratory of Economics of sustainable development and environmentally sound nature use” at the Department of Economics, Entrepreneurship and Business Administration.

6 scientific journals with the international index ISSN are published:

  • SumDU Bulletin: Economics Series;
  • Economic Processes Management;
  • Mechanism of Economics Regulation;
  • Marketing and Management of Innovations;
  • Business Ethics and Leadership ;
  • SocioEconomic Challenges (SEC).

Contact us

Doctor of Economics, Professor Tetyana Vasylyeva
This email address is being protected from spambots. You need JavaScript enabled to view it.
Deputy Director for International Activities
Ph.D., Tetyana Pimonenko
This email address is being protected from spambots. You need JavaScript enabled to view it.

Contact us

2, Rymskogo-Korsakova st., 40007 Sumy,Ukraine

International Students Office:
Tel/fax: +38 (0542) 33-71-14

International Affairs Office:
Tel/fax: +38 (0542) 33-10-81


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