Increased necessity in quantitative methods of analysis along with rapid progress of electronic computer stimulated intensive research in mathematical direction of economic science. To develop a new scientific direction on the economic faculty of LSU the new laboratory of economic-mathematical methods was founded in 1959. Eminent Soviet economist professor V.V. Novozhilov became the first laboratory research manager /he became the Lenin Prize laureate in the economic field in 1965/. It was organized the 6th year in 1959, the most clever and persistent economic faculty graduates began to study modern mathematics foundations, its application to economic theory and solution of direction-finding problem.

The curriculum for 6th year students was worked out by eminent Soviet mathematician academician L.V.Kantorovich /he was awarded Nobel Prize for Economics in 1975/. The 6th year graduates strongly contributed to create the St. Petersburg and Moscow economic-mathematical schools. In 1960 the economic faculty founded a department of economic-mathematical accounts. It was the first in the state to begin the training of specialists in the field of application of math modeling and computer engineering in economic researches, economic process planning and management. In the nomenclature of specialties the new specialty received the name “economic cybernetics”; in 1990 it became the official name of the economic-mathematical accounts department.

Economist-mathematician is a broad specialist-analytic in the field of preparation and realization of economic solutions based on the use of economic-mathematical models and computers. A specialist is devoted to work in all the sectors of the national economy, in enterprises of all kinds of property, in scientific research institutions, state and regional authorities, in financial institutions /banks, investment funds, insurance companies/. Economist-mathematician can contribute to prognostics, planning, economical activity and finances analysis, management, creation of modern informational technologies for economic resolution support. 

The department develops the concept of training economists-mathematicians and it is reflected in curriculum. That concept is based on an idea that modern economist-analytic needs to have fundamental understanding on economic theory along with mathematic theory as well as he or she has to have the most relevant knowledge in the field of computer systems for economic resolution support. Good theoretical understanding and knowledge of informational technologies foundations provides future specialist with the ability to independently learn new spheres of knowledge, to accomplish difficult economic analysis on micro and macro level.
However, economist-mathematician is a specialist primarily for solving practical tasks on the basis of modern methods and models of quantitative evaluation of economic decisions.

However, an economist-mathematician is a specialist primarily for solving practical tasks on the basis of modern methods and models of the quantitative evaluation of economic decisions. This is why the curriculum is focused on developing specific economic disciplines that teach the quantitative side of economic events.  These disciplines include accounting, statistics, along with such applied economic-mathematical courses as econometrics, inventory management theory, queuing theory, game theory, graph theory, network planning, and logistics. The foundations of management, marketing, financial management, enterprise economics, financial institutes, ecology and nature management economics, and regional economics set the basics for students to understand and learn a variety of decision-making tasks which an economist can be faced with.
In developing market economy problems to base and choose investment and financial decisions, problems of risk measuring and evaluation are increasingly becoming relevant in the global market and the local market. That is why since 1993/94 school year the economic cybernetics department started the specialization its students in four relevant directions of mathematical methods appliance:

• Risk management
• Macroeconomic forecasting and model-building
• Financial market operations research

The students’ specialization begins at the 3d year and is implemented via the special courses system /obligatory for chosen specialization and optional/. In the 3rd year each student has his or her settled research manager among the department’s professors and assistant professors. Under the research manager the student generates research in practical work and writes papers on the research. The 5th year students do production practical work, prepare and defend their diploma theses and pass the state examination on their specialty.
The 4th year students in addition to normal classes begin their internship in their field.

Department scientific potential shows up in large quantity of publications, monographs and textbooks. Department lecturers actively participate in the execution a set of applied ordered researches in the fields of:

• equity market analysis and planning their turnover in banking
• development of business projects of the organization of trust companies
• development of systematic provisions and forecasts for realty firms for growth
• estimation of the privatized business value
• analysis and predicting a business financial position
• insurance companies ratings
• analysis and estimation of investment projects
• development of methods of complex planning and nature-conservative activity management in its region

Department lecturers successfully participate in international programs and seminars, results of foreign contacts are actively used in the study process.