Azerbaijan State Economic University (ASEU) (Azerbaijani: Azərbaycan Dövlət İqtisad Universiteti (ADIU)) is a public university located in Baku, Azerbaijan. Azerbaijan State Economic University (ASEU) that founded in 1930 is one of the biggest educational institutions of the South Caucasus countries. At ASEU there are functioning 14 faculties, 16 thousand students get education and there are magistrates upon 57 specialties, more than 1000 teachers work there, including 62 professors and 344 docents, among which there are real members of National Academy of Sciences, New-York Academy of Sciences, winners of state rewards, deserved teachers and scientists. ASEU is a full member of the European Association of Universities, Association of Islam Countries Universities, University Council of Black Sea Economic Cooperation Organization and Eurasian Association of Universities. There are 650 students and magistrates from 10 countries of the world getting education at ASEU. In 2007 the informative-library center and the student carrier center has started functioning at ASEU and also a new 7 floor educational building that meets the highest world standards was opened. In the same year ASEU received "European quality” reward and the International reward named after Socrat that founded by the European Business-assembly, European Club of Rectors and European Association of Universities. The strategic direction of ASEU development is to bring up the educational process to world standards by 2010, finishing the international accreditation process and full joining to Bologna System, also more active participation on the international market of educational services. History Main building facing Istiglaliyyat street Originally a part of Baku State University, it became a separate, independent institution in 1934. Over the years its name has changed a number of times and it was re-merged and re-separated from Baku State on several occasions. On its creation in 1930, the school was named the Trade-Cooperative Institute. In 1933, the government of Azerbaijan SSR changed the name to the "Azerbaijan Social-Economic University named after Karl Marx" (similar to the naming of the Azerbaijan Medical University named after Nariman Narimanov), and introduced curricula on accounting, law and finance. In 1936 the name was tweaked to the "Azerbaijan Social-Economic Institute named after Karl Marx". With the onset of World War II, ASEU was folded into Baku State University's Department of Economics. By 1944 the school was separated again, this time as the Azerbaijan National Economic Institute. It remained under this name until March 1959, when war caused it to be folded back into Baku State University. In 1966 the school separated once again, and has remained independent since, initially as the Azerbaijan National Economic Institute named after Dadash Bunyadzade. In 1987 the name was changed to the Finance-Economic Institute; and in 2000 the name was finally changed to its current form by an act of the Azerbaijani government. In Kurban Said's landmark novel, Ali and Nino, the ASEU building served as Ali's high school.