Institute of finance and economics of Mongolia
Encyclopedia
The Institute of Finance and Economics (IFE) is one of the largest educational institutions of Mongolia
. The institute is on the banks of Selbe river at the heart of Ulaanbaatar
city. The institute offers bachelor's and master's programs.
, its name was changed again to College of Finance and Economics, and the school extended its curriculum to most of the current spectrum.
The last name change happened in 1997, when postgraduate courses were introduced. Subjects include business administration, financial management, accounting and bookkeeping.
The earlier structure of the Union was the Student Council which was relatively small, founded in 1997. Until 2001 there was no stability in student organization activity. In 2001, the Student Council changed its name to Student Union and started to expand. On April 10, 2004, Student Union changed its name to back to Student Council. The reason of this change is uncertain. The latest change of its name occurred on October 1, 2007: the Student Council changed its status as non-government organization hence called Student Union under the chairmanship of Yusuntsagaanii Nomin-Erdene. The new Union adapted its constitution from the Student Council of Mongolian University of Science and Technology
. However, there was need of changing the constitution as more clarified and complex constitution was urgent task. In early May 2008, the first draft of the constitution was presented by Sukhbaataryn Unur during the first student assembly. Little amendments were made and finally the constitution was ratified by the student assembly and signed by steering committee members Gelegbaataryn Uuganbayar (chairman), Mendbayaryn Baigalmaa (vice chair), Uvgunkhuugiin Erdenebat, Tsogbayar, Zolchimeg on May 26, 2008.
According to the constitution, the Student Union is divided into three branches similar to the state by based on separation of powers
. The Student Assembly, Executive Committee, Control Council are the legislature
, executive
, judiciary
bodies of the Union respectively.
The Student Union is governed by the Student Assembly, although day-to-day workings of the Union are handled by the Executive Committee. Representatives for the Student Assembly, the Chair's Office are elected/appointed between October and November each academic year.
Mongolia
Mongolia is a landlocked country in East and Central Asia. It is bordered by Russia to the north and China to the south, east and west. Although Mongolia does not share a border with Kazakhstan, its western-most point is only from Kazakhstan's eastern tip. Ulan Bator, the capital and largest...
. The institute is on the banks of Selbe river at the heart of Ulaanbaatar
Ulaanbaatar
Ulan Bator or Ulaanbaatar is the capital and largest city of Mongolia. An independent municipality, the city is not part of any province, and its population as of 2008 is over one million....
city. The institute offers bachelor's and master's programs.
History
The institute was founded on June 1, 1924 as the School of Custom's Officers in Ulaanbaatar. In 1931 it changed its name to School of Accounting, adding more subjects. In 1946, shortly after the World War IIWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, its name was changed again to College of Finance and Economics, and the school extended its curriculum to most of the current spectrum.
The last name change happened in 1997, when postgraduate courses were introduced. Subjects include business administration, financial management, accounting and bookkeeping.
Faculties
- Faculty of EconomicsEconomicsEconomics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and EconometricsEconometricsEconometrics has been defined as "the application of mathematics and statistical methods to economic data" and described as the branch of economics "that aims to give empirical content to economic relations." More precisely, it is "the quantitative analysis of actual economic phenomena based on... - Faculty of HumanityHumanitiesThe humanities are academic disciplines that study the human condition, using methods that are primarily analytical, critical, or speculative, as distinguished from the mainly empirical approaches of the natural sciences....
- Faculty of Business Administration
- Faculty of Accounting
- Faculty of BankBankA bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
ing and Financing - Faculty of Information TechnologyInformation technologyInformation technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
Notable alumni
- Yumjaagiin Tsedenbal, the leader of People's Republic Mongolia
- Jigjidiin Mönkhbat, 1968 Summer Olympics1968 Summer OlympicsThe 1968 Summer Olympics, officially known as the Games of the XIX Olympiad, were an international multi-sport event held in Mexico City, Mexico in October 1968. The 1968 Games were the first Olympic Games hosted by a developing country, and the first Games hosted by a Spanish-speaking country...
silver medalist in men's freestyle middleweight wrestling
Student Union
The IFE has a Student Union formed by students themselves. Financially supported from the school administration, the Union organizes socio-cultural activities as well as extra curricular academics activities.The earlier structure of the Union was the Student Council which was relatively small, founded in 1997. Until 2001 there was no stability in student organization activity. In 2001, the Student Council changed its name to Student Union and started to expand. On April 10, 2004, Student Union changed its name to back to Student Council. The reason of this change is uncertain. The latest change of its name occurred on October 1, 2007: the Student Council changed its status as non-government organization hence called Student Union under the chairmanship of Yusuntsagaanii Nomin-Erdene. The new Union adapted its constitution from the Student Council of Mongolian University of Science and Technology
Mongolian University of Science and Technology
The Mongolian University of Science and Technology is a multidisciplinary and multileveled center for education, training and scientific research based in Ulaanbaatar, Mongolia...
. However, there was need of changing the constitution as more clarified and complex constitution was urgent task. In early May 2008, the first draft of the constitution was presented by Sukhbaataryn Unur during the first student assembly. Little amendments were made and finally the constitution was ratified by the student assembly and signed by steering committee members Gelegbaataryn Uuganbayar (chairman), Mendbayaryn Baigalmaa (vice chair), Uvgunkhuugiin Erdenebat, Tsogbayar, Zolchimeg on May 26, 2008.
According to the constitution, the Student Union is divided into three branches similar to the state by based on separation of powers
Separation of powers
The separation of powers, often imprecisely used interchangeably with the trias politica principle, is a model for the governance of a state. The model was first developed in ancient Greece and came into widespread use by the Roman Republic as part of the unmodified Constitution of the Roman Republic...
. The Student Assembly, Executive Committee, Control Council are the legislature
Legislature
A legislature is a kind of deliberative assembly with the power to pass, amend, and repeal laws. The law created by a legislature is called legislation or statutory law. In addition to enacting laws, legislatures usually have exclusive authority to raise or lower taxes and adopt the budget and...
, executive
Executive (government)
Executive branch of Government is the part of government that has sole authority and responsibility for the daily administration of the state bureaucracy. The division of power into separate branches of government is central to the idea of the separation of powers.In many countries, the term...
, judiciary
Judiciary
The judiciary is the system of courts that interprets and applies the law in the name of the state. The judiciary also provides a mechanism for the resolution of disputes...
bodies of the Union respectively.
The Student Union is governed by the Student Assembly, although day-to-day workings of the Union are handled by the Executive Committee. Representatives for the Student Assembly, the Chair's Office are elected/appointed between October and November each academic year.