The Institute of Economics and Management is a private higher educational institution of applied character owned by Nonprofit Association ECOMEN (registration number: 80128270).

Training activity has been conducted since 1993. Since that time the Institute has prepared more than 1700 specialists, who successfully work both in Estonia and in more than 30 other countries. In 1997 the Institute was reorganized out of the International Environment and Technology College (IETC) - the first private educational institution in the northeastern part of the country.

In 1999 the college was renamed into Sillamyae Institute of Economics and Management (SIEM), and in 2005 got its current name – Institute of Economics and Management.

The Institute offers two majors – ‘Business Economics’ and ‘Business Management’. These majors and respective specializations were accredited by the Estonian Higher Education Quality Assessment Council on 19 May, 2008.

12 августа 2010 года Институт получил бессрочную государственную лицензию на право ведения учебной деятельности по направлению «Бизнес и управление» (постановление Правительства ЭР №112).

Presently there are over 600 students studying in the Institute and every year brings even more young people. Studies take place in Tallinn and in Sillamyae, Narva and Kohtla-Järve in the north-eastern region of Estonia.

The basic language of instruction is Russian. Partially classes are given in Estonian, English, German and Italian languages.

The Institute is a part of higher education system of Estonia and the European Union.

Mission

The main mission of the Institute is providing a path for the students to become environmentally sensible, socially responsible and economically-minded professionals with global understanding of challenges facing humanity in the 21st century. This environment, social economic approach lies in the conceptual essence of the Institute, encouraging our alumni for dynamic self-progress. The Institute curricula have been compiled with respect to these particular values. Within the period of taking classes and lectures in the Institute  students should acquire not only a certain  amount  of  applied  fundamental  knowledge and practical skills but also (and maybe exactly this is of primary importance) to get in the know how to acquire knowledge and skills. The new millennium will demand the ability to face rather often and quite complicated changes in the fields of their specialization, the ability to learn new methods, approaches and technologies considering limited resources and social consequences of any, even locally motivated, decisions.

Goals

- to create for Russian-speaking young people of Estonia possibilities of obtaining higher education in a native language;

- to form a teaching staff body capable not only of delivering lectures in consistency with today’s trends and requirements of the world economic development but also  of assisting with concrete scientific, consulting and designing advice to businesses;

- to provide instruction of specialists in the sphere of economy and management who meet modern requirements of the labor market;

- to give students the opportunity to specialize in a more specifically concentrated professional sphere within the framework of their major;

-  with the teaching process itself to contribute to integration of the society in Estonia and inclusion of the Russian-speaking community through the alumni of the Institute into an active part of scientific and professional potential of Estonia.

Problems

Restoration of independence of Estonia, change in social and political guiding lines and transition from the planned to the market economy set to the government a complicated mission of training specialists in various fields of activities ready to act under new state conditions. Moreover, special attention should be paid on instructing specialists in the field of economics and management.

Exactly such understanding of the importance of this problem made the Institute decide to concentrate its effort in the field of training economists and managers for enterprises of various spheres of activity (industry, tourism, municipal economy, power engineering, welfare, environmental protection, etc.).

The programs for the two interrelated majors ‘Business Economics’ and ‘Business Management’ and curricula for specializations were designed. In the process of working-out the programs and curricula peculiarities and prospects for development of Estonian economy as well as new trends typical of modern market economy, technologies and methods of economic and managerial actions were taken into consideration.