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  1. Guidelines for the recognition of Russian qualifications
  2. Financial Education for all (Second edition)
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The Federal Programme for the Development of Education, aimed at the encouragement of innovations in all components of the education system, has been designed for the support of educational reforms. In recent years, the system of education of the Russian Federation has been undergoing drastic changes in the framework of the comprehensive transformation of the country as a whole. The main changes have been proceeding along the following lines:. The system of education in the Russian Federation comprises:. In the Russian Federation, all educational programmes are of two types cf.

General education is aimed at the intellectual, moral, emotional, and physical development of the individual; at shaping his or her general cultural level; at developing his or her ability to adapt himself or herself to life in society, and at the setting of the foundations which will enable individuals to make a conscious choice of a professional education programme and to cope with it.

Professional education is aimed at the continued development of an individual in the process of which he or she acquires a professional qualification and at the preparation of graduates to exercise a profession. Since in the Russian Federation all programmes, except general education programmes, lead to diplomas or to diplomas and degrees as well as to professional qualifications and give the right to exercise professions, they are called professional education programmes.

Thus professional education covers the following:. State policy in regard to education is based on the following principles:. The State guarantees its citizens the possibility to acquire formal education within its territory irrespective of race, nationality, language, sex, age, health, wealth, social and official status, social origin, place of residence, religion, loyalty, party affiliation, and previous convictions. The citizens of the Russian Federation have the right to free primary education, basic and secondary general education, and to vocational education; and on a competitive basis, to free non-university and university level higher educational and to postgraduate education in State and municipal educational establishments one course programme at each level.

The State creates special conditions for disabled citizens enabling them to receive education, to correct the abnormalities of their development, and to become socially adapted. The State also renders assistance in providing education to persons who demonstrate outstanding abilities, including special State grants as well as fellowships for study abroad. The principal language of instruction is Russian. The study of Russian as the state language of the Russian Federation in all State-accredited educational establishments, except pre-school institutions, is regulated according to the State educational standard.

The citizens of the Russian Federation have the right to receive their basic general education in their native languages as well as to choose their languages of instruction within the range of possibilities offered by the educational system. Through August , there were two federal state bodies that exercised management and administration over the educational system in the country: the Ministry of Education of the Russian Federation and the State Committee of the Russian Federation for Higher Education.

The Ministry of Education was in charge of the elaboration and implementation of state policy in the field of pre-school, general, and vocational education as well as of complementary education at the corresponding levels. The State Committee for Higher Education was responsible for the elaboration and implementation of state policy in the field of post-secondary education: non-university and university level higher education, doctoral studies, as well as of complementary education at the corresponding levels.

In August , these two federal bodies were merged into one ministry with combined functions called the Ministry for General and Professional Education of the Russian Federation. This study will refer mainly to this combined Ministry. The following main functions come under the terms of reference of the federal management and administrative bodies:. In addition to the Ministry for General and Professional Education, other bodies also active are the federal ministerial bodies for the management and administration of education those set up in federal ministries , the state managerial bodies for education in the constituent parts republics, territories, regions, etc.

All of these bodies have administrative responsibilities for the educational establishments which they set up. In the state higher education institutions, routine activities are supervised by Academic Councils that are headed by rectors. The terms of office of an Academic Council is five years. In the non-state educational establishments, supervision is the responsibility of their founders or of a trusteeship council committee appointed by the founders.

The direct administration of a higher education institution is the responsibility of the rector. The statute of the institution defines the demarcation between the functions of the Academic Council and of the rector of the institution. Depending upon the structure of a given institution, Academic Councils may be set up in the faculties. The members are elected from among the academic staff. The terms of reference of Academic Councils are defined in the statutes of the institutions in question.

Each faculty is headed by a dean who is elected by the Academic Council of the institution. Faculties are normally composed of chairs that are administered by their heads. The main sources of funding of the state educational establishments are the federal and local budgets. Non-state educational establishments are entitled to funding from these sources after they have received state accreditation. State educational establishments have the right to use other sources of funding including the following:. Educational establishments are financed by their founders. For example, the Ministry of Health and Medical Industry finances medical education institutions.

The former Ministry of Education funded 90 pedagogical universities, 88 colleges, and 2, vocational education institutions. The former State Committee for Higher Education financed universities, academies, and institutes as well as colleges. The level of financing of educational establishments is carried out on the basis of state and local norms standards , as determined by the expense per student for each type and category of educational establishment. Federal funding norms are adopted annually by a federal law along with the adoption of the federal budget for the coming year.

The norms regarding the financing of non-state educational establishments cannot be lower than those for state educational establishments. As a result of the changes that occurred in the Russian Federation after , and in order to ensure quality and efficiency, a new national mechanism for quality control and assessment was introduced. This mechanism includes:. The State educational standard is a set of nationally recognized requirements laid down by the State which determines a mandatory minimum for the contents of educational programmes, the maximum work loads assigned to students, as well as general course loads and requirements to be met by graduates.

The State Educational Standard of Higher Professional Education was developed by teaching and methodological associations that brought together higher education institutions in relevant fields of study on the basis of a competition organized by the State Committee for Higher Education and approved by Decree No. The mandatory minimum for the content of an educational programme basic educational programme constitutes the so-called federal component of the educational programme. It can be complemented by the regional component which reflects national and regional requirements in regard to the content of education.

Each higher education establishment develops its own educational programmes which must include the federal component and may also contain the regional component and components designed by the particular higher education institution. Licensing is a procedure whereby an educational institution is granted the right to carry out educational programmes in relevant fields of study specialities and at corresponding levels of education.

It consists of the recognition of expertise, the taking of decisions, and the issuing of a duly worded authorization, i. Licensing is based on the results of an evaluation carried out by expert commissions that are composed of representatives of educational authorities federal and local , educational institutions, and the public.

The aim of the evaluation is to determine whether or not conditions for the implementation of educational programmes at a given educational establishment correspond to state and local requirements with regard to construction norms and rules, sanitary and hygienic standards, possibilities for health care for students and academic staff, the equipping of the premises and the teaching and learning processes with the proper infrastructure, the staffing of the institution, and the educational qualifications of the academic staff. The content, organization, and methodologies of the teaching and learning processes are not included in this evaluation.

The license is issued by the state education authorities or, on their behalf, by the local municipal education authorities on the basis of the conclusions of the expert commission. This licensing procedure has no equivalent in the western European countries but is somewhat comparable to state licensing procedures in the United States of America. Even though licensing grants the right to engage in educational activities, it does not confer the right to award educational certificates of the state format certifying graduation from an educational institution.

In order to earn this right, an educational institution must be accorded state accreditation. State accreditation is the formal recognition of the status of an educational establishment by the State on the basis of solid evidence that its activities conform to nationally established requirements. The procedure results in the granting to the educational institution concerned the right to award nationally recognized certificates of the state format certifying the successful completion of an educational programme, to use a State seal of the Russian Federation, and to be included in the financing scheme of the State budget.

State accreditation is applicable both to state educational establishments and to private institutions. For higher education institutions, State accreditation is regulated by a decree of the State Committee for Higher Education. Two main questions are considered during the accreditation process:. Recognition of the type of educational institution is granted on the basis of the results of an analysis and evaluation of the following:.

The recognition of the kind of educational institution is carried out on the basis of the study of the characteristics of the latter according to the typology established for educational institutions, which include:. The accreditation procedure includes both a self-evaluation and a peer review.

An educational institution wishing to be granted State accreditation should begin with the self-evaluation. The self-evaluation is carried out on the basis of the unified requirements and methodology developed by the Ministry for General and Professional Education. The next step is for the education institution to submit an application, accompanied by the self-evaluation report, for the State accreditation. Upon receiving the application, an expert group for peer review is constituted. It consists of experts from educational establishments, the academic community, research institutions, industry, etc.

Guidelines for the recognition of Russian qualifications

The expert group studies the self-evaluation report and makes an on-the-spot evaluation of the quality of the educational institution, in general, and of each of its educational programmes, in particular. By means of expert criticism and appraisal, an analysis is made of whether or not the eligible requirements for accreditation mentioned above have been met.

The outcomes of the expert group are reflected in a report conclusion which serves as the basis for taking a decision in regard to State accreditation. State accreditation of non-university level higher education establishments is conducted by the state managerial bodies of the constituent parts of the Russian Federation subjects of the Russian Federation in charge of education on the territory of which these institutions are located, with the participation of the ministries concerned. The State accreditation of university level higher education institutions is conducted by the Ministry for General and Professional Education.

The Ministry is also responsible for the elaboration of the unified methodology of the State accreditation and for the overall control of the accreditation process in the country. With this responsibility in view, a special unit for accreditation matters was set up. The Ministry for General and Professional Education aggregates the data on state accreditation, using special computer software for this purpose.

The final decision in regard to State accreditation for given institutions is taken by the state managerial body which carries out the accreditation procedure. For university level higher education institutions, the final decision is taken by the Ministry for General and Professional Education. In the case of a positive decision, the Certificate of State Accreditation is granted.

This certificate establishes the status of the educational establishment its type and kind , the list of its accredited specialities and educational programmes, and their levels non-university, university, postgraduate , the degrees and qualifications to be awarded, and the period of validity of the certificate.

The procedure for the State accreditation of educational establishments in the country was introduced in by the Law On Education. As the application of the accreditation procedure for the whole education system in the country requires a great deal of time and effort, it has been decided to consider that all the state and municipal educational establishments are accredited. The State final attestation is a special procedure aimed at the assessment of the knowledge and skills of graduates and of the correspondence of the latter to the State educational standard. The procedure is applied to those educational institutions that have successfully undergone State accreditation.

In the case of higher education institutions, it culminates in the award of a diploma of the state format and of a qualification. The State final attestation of graduates consists of one or of several evaluation procedures:. The defense of a qualifying paper or of a project is a mandatory component of the State final attestation.

In addition to the defense, the attestation procedure usually includes a final examination in an individual discipline or in an interdisciplinary one. The concrete list of evaluation procedures, programmes of final examinations, procedures and terms for the preparation of qualifying papers or projects, and criteria for their assessment are approved by the Academic Council of the institution faculty concerned. The final examination in an individual discipline reveals the knowledge and skills of graduates as set against the curriculum and covers the minimum content of the given discipline established by the particular State educational standard.

The final interdisciplinary examination in the speciality, along with the requirements for the content of individual disciplines, reflect the general requirements for graduates as set up by the State educational standard in the given field of study speciality. Qualifying papers or projects are called diploma papers and diploma projects respectively.

Their topics are set by the higher education institution concerned. Students have the right to select topics from the list provided or to propose their own topics along with a plan of development for a given topic. For the preparation of diploma papers or projects, a supervisor and consultants if necessary are appointed for each student. Before the defense can take place, all qualifying papers and projects must be reviewed by experts in the respective subjects. The State final attestation takes place before State Attestation Commissions set up by the rector of the higher education institution concerned.

The members of State Attestation Commissions are experienced professors from the given higher education institution and from other institutions, researchers from research institutions, and experts from firms, enterprises, and other such institutions. The chairperson is invited from outside the institution and is approved by the administrative body in charge of the given institution.

There are different forms of education : full-time , part-time evening and correspondence course programmes , and so-called externat a form of education that enables individuals to study independently and to take examinations. The Government of the Russian Federation establishes a list of specialities for which part-time study and externat are forbidden. The minimum requirements as to the content of education and to the knowledge and skills of graduates, set up by the State educational standard, do not depend on the form of education, and for part-time education and externat , they are the same as for full-time studies.

The number of part-time students constitutes about one third of the total number of students. Part-time students devote the majority of their time to independent studies. In order to compensate in part-time studies for the decrease in contact time, specific education technologies are used: special instructional materials and aids, forms of distance education, modern communication and information technologies, and individual and collective consultations.

The number of part-time students studying in a given group is smaller than that of full-time students. The marking system in Russia is unified for all levels of education:. The lowest passing grade is 3 for general education or satisfactory and credit for higher education. Students are only permitted to enroll in the next year of study and to be awarded a diploma if they have passing grades in each subject of the curriculum.

General education comprises three stages corresponding to the levels of educational programmes:.

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General education programmes now comprise eleven years of studies, while before , they lasted ten years. The extension of total duration occurred at the expense of an earlier school enrollment at the age of 6 7, before So students normally finish secondary complete general education at the age of There are also twelve-year schools for part-time education and education in the arts. At present, the system of general education includes 66, educational establishments in which 20,, students are enrolled.

Some private schools have been established over the last years. The official name of general education schools is the Secondary General School. During the last years, new types of schools called gymnasia and lycei singular: gymnasium and lyceum , that can be state and private, were set up.

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The duration of studies in gymnasia and lycei can exceed that of Secondary General Schools, and their educational programmes can be more advanced. General education curricula normally stipulate thirty-four weeks of study per year and, as a rule, twenty-seven to thirty-eight hours of study per week. The academic year starts on 1 September and runs through the beginning of June. School examinations are scheduled in June. For certain categories of students, the stipulated period of study can be changed according to the specific State educational standard. A Basic Curriculum for General Education Table 1 has been developed which lays down the State requirements as to the minimum content of education and the workload of students.

Technology normally includes Drawing and a number of disciplines for the imparting of certain professional skills: basic skills of general utility for pupils Home Economics, Sewing, Cooking, Metal Work, Carpentry, etc. In addition to these required fields of study, the Basic Curriculum provides for disciplines which could be added because of being specific to the particular region in which the school is located as well as optional disciplines in accordance with the interests of pupils.

In practice, each school designs its own curriculum, basing it upon the Basic Curriculum. Russia has well-developed networks of schools offering advanced programmes which are based on the Basic Curriculum and can be offered in a number of ways:. Primary general education and basic general education are compulsory. On the completion of basic general education a nine-year programme , students take final examinations the procedure is called the State final attestation and are awarded, if they pass, the Certificate of Basic General Education Attestat ob Osnovnom Obshchem Obrazovanii Annex 2, Fig.

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As a result of the State final attestation, students may or may not be encouraged to continue their education. The Certificate entitles its holder to be admitted either to secondary complete general education or to vocational education, as well as to non-university level higher education. The number of disciplines subject to final examinations should not be fewer than five: two federal compulsory written examinations composition and mathematics and no less than three optional examinations at the choice of the student.

In addition to the results of the final examinations, school leaving certificates include a supplement Annex 2, Fig. The old version of the certificate Attestat o Srednem Obrazovanii has no supplement, and the grades are listed on the certificate itself. The number of subjects may vary from seventeen to twenty. Final and annual examinations are two-thirds written and one-third oral; examinations taken during the learning process are in the reversed proportion.

The school leaving certificate Certificate of Secondary Complete General Education entitles its holder to pursue professional education: either vocational education, or both non-university and university level higher education. In the last few years, numerous private schools have been established. The authorization to grant nationally recognized certificates certificates of the State format is linked to success in the State accreditation procedures.

Certificates awarded by non-accredited institutions of non-State format do not grant the right to be admitted to higher education institutions. Vocational education nachalnoe professionalnoe obrazovanie is the initial stage of professional education. It is aimed at the training of skilled workers , usually on the basis of basic general education.

Vocational training for certain occupations may be based on secondary complete general education. Educational programmes for persons wishing to take up vocational education after basic general education are different from those offered to persons who have finished secondary complete general education. A total of 3, educational institutions, some of which are private, with an enrollment of 1,, students offer course programmes in vocational education in the country.

Admission to vocational education institutions normally does not require any entrance examinations. The first kind of vocational education is offered by vocational education institutions called Professional Schools Professionalnoe Uchilishche. In these institutions, educational programmes are aimed at the acquisition of professional qualifications and mainly cover subjects for professional training. The duration of these educational programmes is:. Such a Diploma also entitles its holder to pursue non-university level higher education in case studies are pursued in the same profile, educational programmes can be shortened , however this type of vocational education does not give the right of access to university level higher education.

The second kind of vocational education is offered by vocational education institutions called Professional Lycei Professionalnye Litsei. In these institutions, educational programmes, in addition to the professional education component, also include a general education component educational programme of the tenth and eleventh grades. After passing the State final attestation, graduates of a Professional Lyceum are awarded diplomas that not only give them the right to exercise a profession but also indicate that they have received secondary complete general education.

This diploma gives its holder the right to be admitted to university level higher education institutions in case studies are pursued in the same profile, university programmes can be shortened. There are two kinds of higher education in the Russian Federation:. Despite the different levels of education, these two kinds of higher education have the following common features:.

About private institutions offering educational programmes in such fields as law, economics, and management have been established over the last few years. Educational institutions for non-university level higher education are generally known as Tekhnikums or Uchilishcha. Since , a new type of institution has emerged, namely, the College. Colleges can be independent educational institutions or constituent parts of a university, academy, or institute.

They offer educational programmes of non-university level higher education of advanced type as well as two-year programmes leading to the award of the Intermediate Diploma.

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At present, there are colleges in the country. The admission procedure for a college is regulated by Decree No. Admission is competitive , and applicants have to pass admission tests in the form of entrance examinations, interviews, and so forth in order to demonstrate their abilities to pursue educational programmes. The list of admission tests is determined by the educational establishments themselves. In , there were applicants per vacant places. It should be noted that in the Russian Federation applicants are allowed to apply to only one educational establishment at a time. The main prerequisite for admission is the completion of secondary complete general education grade However, a number of educational establishments offer course programmes following completion of basic general education grade 9.

The number of applicants with basic general education is declining. In , they constituted only one-third of the total number of applicants. As a rule, educational programmes for a Tekhnikum Uchilishche cover the humanities, the social and the natural sciences, including economics and mathematics, general professional and specialized disciplines, as well as practical training.

Educational programmes for Colleges, in addition to the educational programmes for Tekhnikums Uchilishcha , include up to a one-year programme covering a more profound form of theoretical education and professional training, including more in-depth practical training.

For those entering a Tekhnikum Uchilishche or a college after basic general education grade 9 , possible educational programmes also include disciplines for secondary complete general education. The curricula stipulate forty-five weeks of study per year. The average time ratio of theoretical education to practical training is 1 to 1. The total workload of a student is fifty-four hours a week, including classwork and independent studies, while the contact workload is thirty-six hours a week. For part-time evening education, classwork amounts to sixteen hours per week. In the case of correspondence education, each student must be provided with the opportunity to have contact hours a year.

On the successful completion of studies and the passage of the State final attestation, students are awarded the corresponding diploma Annex 2, Fig. The Diploma supplement contains the list of subjects taught during the period of studies and the grades earned. The diplomas of non-university level higher education entitle their holders either to pursue professional activities in accordance with the qualifications stipulated or to be admitted to university level higher education in the same conditions as for holders of school leaving certificates. University level higher education institutions may give credits and offer shortened programmes to graduates of a Tekhnikum Uchilishche or a college who continue their education in the same speciality.

According to the Standard Statute for University Level Higher Education Establishments adopted by the Government of the Russian Federation on 26 June and based on the Law On Education , higher education in the country is built upon the following typology of establishments:. Universities : higher education institutions the activities of which are aimed at the development of education, science, and culture through the conducting of fundamental and applied research and the offering of training programmes at all levels of higher, postgraduate, and continuing education in a wide range of natural and social sciences and the humanities.

A university must be the leading research and methodological centre in the areas of its activity. Universities are now subdivided into the following groups:. Technical Universities former Polytechnic and Specialized Institutes ;. Academies : higher education institutions the activities of which are aimed at the development of education, science, and culture through the conducting of fundamental and applied research and the offering of training programmes at all levels of higher, postgraduate, and continuing education in a single major area of science, technology, or culture.

An academy must be the leading research and methodological centre in its area of activity. Institute : independent higher education institutions or divisions of universities or academies which offer educational programmes at all levels of higher, postgraduate, and continuing education in a number of fields of science, technology, and culture and conduct research. This new typology is replacing the old typology of the former Soviet Union, in which higher education institutions consisted of the following types of establishment:.

Universities - typically offering a broad range of disciplines especially in the humanities and the sciences;. Polytechnic Institutes - typically offering a variety of technological disciplines;. Specialized Institutes - typically offering education in only one major discipline, for example, medicine, agriculture, economics, teacher education, etc.

The transformation of the old institutions into new institutional types is still in progress. Former Polytechnic Institutes and Specialized Institutes are still trying to broaden their programmes and are being renamed Universities or Academies. At present, the system of university level higher education consists of state higher education establishments. They consist of:.

Along with the state sector, there is also a sector of municipal higher education establishments run by local and regional authorities as well as a sector of non-state higher education establishments run by private, public, and religious organizations. During the last few years, about non-state higher education institutions , mostly private ones, have been set up and have received the status of licensed by the Ministry for General and Professional Education. This private sector is still expanding.

The new private institutions are particularly active in such fields as Law , Management , and Finance. Most of them are small institutions. Only a few of them have their own premises and facilities. The others are using the facilities of neighbouring state establishments of higher education and research. Students are eligible to be considered for transfer to other higher education institutions provided that the higher education institution concerned agrees to enroll them and that they have been successfully assessed.

As for students enrolled in the non-state sector, they can be transferred to state higher education institutions but only from the accredited non-state higher education institutions. The terms of transfer are determined by the statutes of the higher education establishment to which the transfer is sought.

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  • Students of non-accredited non-state higher education institutions wishing to enroll in state higher education institutions must initiate general admission procedures including the passing of entrance examinations. Having succeeded in enrolling in a state higher education institution, they are eligible to be considered for pursuing shortened course programmes taking into account the courses they have taken in the non-accredited non-state higher education institution, assuming that they meet the requirements of the State educational standard for the given speciality. Traditionally, a diploma granting admission to university level higher education institutions may be earned at institutions offering secondary complete general education and non-university level higher education.

    Admission to higher education establishments is competitive. The selection is based on entrance examinations, school leaving certificates, interviews, etc. The entrance examinations are the major component of the selection procedure. The number and the list of entrance tests are stipulated by the admission regulations of given educational institutions. The subjects of the entrance examinations are set by the individual institutions according to the requirements of the faculties to which admission is sought.

    Following the decree of the State Committee for Higher Education of 26 April , the subjects and their contents that are selected for entrance examinations should correspond to the subjects and their contents taught in secondary general schools. Higher education institutions, therefore, may choose subjects for the entrance examinations from the following list: History, Social Sciences, Russian Language and Literature, Foreign Languages, Mathematics, Physics, Chemistry, Biology, Geography, etc.

    University level higher education establishments are entitled to reduce the number of examinations and to change the nature of tests for individuals who have graduated either from institutions of secondary complete general education and have been awarded a medal or from non-university level higher education institutions and have been awarded an honours diploma or other awards. Admission depends on the grades obtained in the examinations and on the number of places available.

    For candidates with identical examination results, the decision for admission may be based on the school leaving certificate. The number of applications may be several times higher than the capacity of the faculty, depending on the reputation of the institution and on the general interest in the subject. In , only 40 percent of the total number of applicants were enrolled in higher education institutions. In the Russian Federation, a person is permitted to apply only to one educational institution at a time. After the changes of the early 's, higher education institutions have been authorized to allocate a portion of their places to fee-paying students.

    Since competition for these places is not as high as for the places financed by the state, admission requirements may be lower, and students may be admitted with lower grades. Since , Russian higher education has had a multi-level structure , and higher education institutions may confer the following degrees and diplomas:.

    The term, multi-level, indicates that degrees now may be obtained at three levels instead of at only one level, as in the former Soviet Union. In addition to the traditional Specialist Diploma, an Intermediate Diploma, a Bakalavr Diploma, and a Magistr Diploma were introduced after the changes in the early 's and are modeled on the Anglo-Saxon system of Bachelor's and Master's Degrees. The Magistr is based upon and comes after the Bakalavr.

    In order to establish the relationship between these qualifications in the future, the Government of the Russian Federation adopted the State Educational Standard of Higher Professional Education of 12 August It designates three levels of studies :. Level 1 comprises the first two years of studies for the Bakalavr or Specialist Diplomas and is concentrated on compulsory fundamental courses in the given speciality.

    After this period, students may either continue their studies or, if they do not want to do so, leave the institution with an Intermediate Diploma;. Level 2 is the continuation of studies for the Bakalavr degree the duration of which is at least another two years. It leads to the four-year Bakalavr degree;. Level 3 represents an educational level common both to the Magistr Diploma and to the Specialist Diploma. Magistr degree programmes are based on Bakalavr degree programmes, while Specialist Diploma programmes are not. This Diploma is conferred in all fields of study. Courses follow a curriculum that imparts the fundamental contents of the education offered in the appropriate field of study.

    The Diploma is not a degree; it is only an intermediate qualification. However, the Diploma gives its holder the right to exercise a professional activity in accordance with the level of education it represents. The Diploma is issued at the request of the student. The Diploma supplement lists the results of the normal examinations taken during the first two years of study. The Intermediate Diploma is called upon to facilitate mobility among the different types of higher education institutions.

    The Bakalavr degree is conferred after at least a four-year course of study.

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    Bakalavr programmes can cover all disciplines except medicine. The function of the Bakalavr degree is to provide a more academically rather than professionally oriented education. The Bakalavr degree is a prerequisite for admission to Magistr studies. In the meantime, the State Committee for Higher Education has published for the Bakalavr degree the State Educational Standard of Higher Professional Education , Moscow, , that describes the structure, aims, and contents of education.

    Each Bakalavr programme contains a defined portion of fundamental education with courses taken from the humanities, the social sciences and economics, and the natural sciences. The continuing stages provide basic professional and specialized education as well as field work relating to professional training. Examinations must be taken and passed at the end of each semester. The State final attestation includes the defense of a thesis prepared over a period of four months and State final examinations. Following a successful attestation, a State Diploma Annex 2, Fig. The supplement to the Diploma Annex 2, Fig.

    The traditional qualification of Specialist Diploma Annex 2, Fig. It opens access to professional practice e. The qualification of Specialist Diploma is conferred after studies lasting five to six years. The diploma is awarded in all fields of study specialities. Students are required to take and to pass examinations at the end of each semester. The State final attestation for a Specialist Diploma covers the defense of a project or a thesis and State final examinations.

    The procedure for the State final attestation and for the award of the Diploma as well as the content of the supplement to the Diploma are the same as for the Bakalavr degree. A Magistr programme is at least a two-year course programme centred more around research activities than the Specialist Diploma. The license to conduct Magistr studies is granted by the Ministry for General and Professional Education only to those higher education institutions that are accredited and possess adequate academic staff and facilities.

    The State educational standard defines only general requirements for Magistr educational programmes and not the requirements regarding the content of education.

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    Higher education establishments in Russia interested in introducing Magistr degree programmes are free to make their own decisions regarding the contents of programmes. The recommendations prepared by the teaching and methodological associations of higher education institutions are taken into consideration. Access to Magistr studies is open to the holders of the Bakalavr degree.

    For the holders of the Bakalavr degree wishing to pursue a Magistr programme in the same field of study speciality , the higher education institutions themselves set up admission procedures examinations, interviews, etc. Part 3 Managing a Private Equity Investment The Managerial Process Fundraising Investing Managing and Monitoring Exiting Listing a Private Company.

    Techniques of Equity Value Definition His research activities focus on the relationship between banking and industrial system, facing issues both of banking credit risk management and of corporate finance and capital structure. He is the author of numerous books and articles on the subject. He has got a long experience as independent director in several boards of corporations and financial institutions as well as advisor of investment committees among them: SIAS S. She conducts research about private equity, start-ups and performance measurement systems.

    In the past, she has worked with J. This compendium provides an excellent up-to-date discussion of the most important aspects focusing on the European landscape. Students and young practitioners in the Venture Capital and Private Equity or affiliated industries will very much appreciate its content. We are always looking for ways to improve customer experience on Elsevier.

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    Skip to content. Search for books, journals or webpages All Pages Books Journals. View on ScienceDirect. Authors: Stefano Caselli Giulia Negri. Paperback ISBN: Imprint: Academic Press. Published Date: 3rd January Page Count: For regional delivery times, please check When will I receive my book?