Sergey Stepanov
- Associate Professor: Faculty of Economic Sciences / School of Finance
- Associate Professor: International College of Economics and Finance
- Programme Academic Supervisor: HSE/NES Programme in Economics
- Sergey Stepanov has been at HSE University since 2013.
Education and Degrees
Vrije Universiteit Brussel
Thesis Title: Essays on Law and Corporate Governance
New Economic School
Moscow Aviation Institute
Awards and Accomplishments
Best Teacher — 2022, 2020
Courses (2024/2025)
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1, 2 module)Rus
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 1, 2 module)Rus
- Financial Economics: Corporate Finance (Master’s programme; International College of Economics and Finance; 2 year, 1, 2 module)Eng
- Financial Economics: Corporate Finance (Mago-Lego; 1, 2 module)Eng
- Private Equity and Venture Capital (Mago-Lego; 3 module)Eng
- Past Courses
Courses (2023/2024)
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1, 2 module)Rus
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 1, 2 module)Rus
- Financial Economics: Corporate Finance (Mago-Lego; 1, 2 module)Eng
- Financial Economics: Corporate Finance (Master’s programme; International College of Economics and Finance; 2 year, 1, 2 module)Eng
- Private Equity and Venture Capital (Mago-Lego; 3 module)Eng
- Private Equity and Venture Capital (Master’s programme; International College of Economics and Finance; 2 year, 3 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 1 year, 1-4 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 2 year, 1-3 module)Eng
Courses (2022/2023)
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1, 2 module)Rus
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 1, 2 module)Rus
- Financial Economics: Corporate Finance (Master’s programme; International College of Economics and Finance; 2 year, 1, 2 module)Eng
- Financial Economics: Corporate Finance (Mago-Lego; 1, 2 module)Eng
- Master's Thesis Pre-defence (Master’s programme; Faculty of Economic Sciences; 2 year, 4 module)Eng
- Private Equity and Venture Capital (Master’s programme; International College of Economics and Finance; 2 year, 3 module)Eng
- Private Equity and Venture Capital (Mago-Lego; 3 module)Eng
- Private Equity and Venture Capital (Master’s programme; International College of Economics and Finance; 1 year, 3 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 2 year, 1-3 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 1 year, 3 module)Eng
Courses (2021/2022)
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1, 2 module)Eng
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 1, 2 module)Eng
- Financial Economics (Master’s programme; International College of Economics and Finance; 2 year, 1, 2 module)Eng
- Private Equity and Venture Capital (Master’s programme; International College of Economics and Finance; 1 year, 3 module)Eng
- Private Equity and Venture Capital (Master’s programme; International College of Economics and Finance; 2 year, 3 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 1 year, 1-4 module)Eng
Courses (2020/2021)
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 3, 4 module)Eng
- Corporate Finance (Bachelor’s programme; Faculty of Economic Sciences; 3 year, 3, 4 module)Eng
- Financial Economics (Master’s programme; International College of Economics and Finance; 2 year, 1, 2 module)Eng
- Private Equity and Venture Capital (Master’s programme; International College of Economics and Finance; 2 year, 3 module)Eng
- Private Equity and Venture Capital (Master’s programme; International College of Economics and Finance; 1 year, 3 module)Eng
- Research Project Seminar (Optional course (faculty); Faculty of Economic Sciences; 1-3 module)Rus
- Research Seminar (Bachelor’s programme; International College of Economics and Finance; 4 year, 2-4 module)Eng
- Research Seminar in Financial Economics (Master’s programme; International College of Economics and Finance; 2 year, 1-3 module)Eng
Participation in Conferences
August 2014 EEA-ESEM conference, Toulouse
June 2014 North American Summer Meeting of Econometric Society, Minneapolis, U.S.
May 2014 Presentation at Goethe University, Frankfurt, Germany
April 2014 XV International Academic Conference on Economic and Social Development, Higher School of Economics, Moscow
September 2013 Annual meeting (“retreat”) of sister institutes of Stockholm Institute of Transition Economics, Stockholm, Sweden
December 2012 New Economic School 20th Anniversary Conference
November 2011 The First International Moscow Finance Conference (hosted by ICEF, Higher School of Economics), Moscow, Russia
November 2011 NES\HSE Annual Conference 2011, Moscow, Russia
August 2011 Asian Meeting of Econometric Society, Seoul, Korea
June 2011 North American Summer Meeting of Econometric Society, St. Louis, MO,U.S.
September 2010 Annual meeting (“retreat”) of sister institutes of Stockholm Institute of Transition Economics, Stockholm, Sweden
April 2010 XI International Academic Conference on Economic and Social Development Problems, Higher School of Economics, Moscow, (as a discussant)
August 2009 24th Annual Congress of the European Economic Association, Barcelona, Spain
April 2009 X International Conference on the Problems of Economic and Social Development, Higher School of Economics, Moscow
November 2008 XXIV New Economic School research conference, Moscow
May 2008 Comparative Analysis of Enterprise Data, Central European University Budapest, Hungary
September 2007 The Global Institute 3rd China-Russia Conference, Beijing, China
March 2007 World Wide Junior Corporate Scholar Forum, Columbia Law School, NY, USA
November 2006 XX New Economic School research conference, Moscow
August 2006 21th Annual Congress of the European Economic Association, Vienna, Austria
August 2005 32nd meeting of the European Finance Association, Moscow, Russia (as a discussant)
July 2005 Conference in tribute to Jean-Jacques Laffont, Toulouse, France
August 2003 18th Annual Congress of the European Economic Association, Stockholm, Sweden
February 2003 Jamboree of the Enter Doctoral Network, Tilburg, The Netherlands
December 2002 Conference “The State of Economics and of Transition, Honoring 10 years of the New Economic School”, Moscow, Russia
April 2000 VII New Economic School research conference, Moscow
Employment history
2005 - 2013: New Economic School, Assistant Professor
2013 - present: NRU Higher School of Economics, Assistant Professor
Courses in 2013-2014
Financial Economics 2 (Corporate Finance), case studies, ICEF Master's program (Fall)
Private Equity and Venture Capital, ICEF Master's program (Spring)
Corporate Finance, Joint HSE&NES BA in Economics program (Spring)
The Faculty of Economic Sciences wishes colleagues and students a Happy New Year!
As we look forward to 2025, FES professors took part in preparing a joyful video message for both students and colleagues. In this sincere address, they convey their warmest wishes and congratulations, while sharing their aspirations for a year filled with hopes for fruitful endeavors and remarkable accomplishments!
‘I Don't Even Know What I Like More: Running or Working’
Sergey Stepanov is an Associate Professor at ICEF and the School of Finance. He is also the Academic Supervisor of the HSE/NES Programme in Economics, a joint programme that teaches students fundamental knowledge of economics, modern methods of economic analysis, and mathematical methods for solving economic tasks. Sergey spoke to Olga Krylova about the joint programme, his research work with colleagues and students, and his second big passion—running.
Welcome to Hogwarts of Finance: ICEF Held Master’s Students Initiation Ceremony
The students, lecturers and office of the MSc Financial Economics got together for the Welcome Pizza Day, an opportunity to talk informally that involved absorbing presentations and revealed exciting things about each other’s personalities.
"Face-to-face interaction is irreplaceable in academia": HSE and NES teamed up for Microeconomics Workshop
On October 14, ICEF HSE, HSE Faculty of Economic Sciences, and NES hosted a one-day, multiple-session workshop that featured the research being conducted by their scientists. A live streamed event held offline, the workshop proved another confirmation that digital services can never replace face-to-face communication.
A Biased Evaluation of Employees’ Performance Can Be Useful for Employers
In assessing an employee’s performance, employers often listen to his immediate supervisor or colleagues, and these opinions can be highly subjective. Sergey Stepanov, an economist from HSE University, has shown that biased evaluations can actually benefit employers. An article substantiating this finding was published in the Journal of Economic Behavior and Organization.
'One great thing about careers in academia is freedom'
In October 2020, ICEF Associate Professor Sergey Stepanov had his article accepted for publication in Journal of Economic Behavior and Organization. It explores how a career concerned agent’s performance can be evaluated in the most optimal way. In this interview, Sergey shares his experience of doing a PhD in Brussels, why economics is an inexhaustible source of research ideas, and how principals can achieve better personnel management practices from a scientific perspective.
ICEF Academia has welcomed its new class
It’s a fact that ICEF students are awarded two degrees when they graduate. There is, however, a third school many of them attend along with HSE and The University of London – ICEF Academia. Offering a programme of advanced courses, research opportunities, discussion venues and academic career guidance, ICEF Academia traditionally hosts welcome meetings and the year 2020 was not an exception. This year’s event was held online and here is how it went.
Neighbours: Who is Close to HSE in Rankings. Economics
We continue talking about universities that are alongside HSE in the 51–100 group in various subject areas in the QS ranking. Today we have economists speaking about their ‘neighbours in the ranking’.
'We Follow the Traditions and Standards of the Best Business Schools'
In 2016, the Strategic Corporate Finance (SCF) programme is celebrating its 10th anniversary and is becoming fully English-taught. Anastasia Stepanova, a graduate of the programme and its current academic director, told us about the unique features of studying in the programme.
‘Our Programme Keeps Developing!’
Maxim Nikitin, HSE Professor and Academic Supervisor of the ICEF Masters Programme in Financial Economics, tells us about the programme’s achievements and innovations, about its intake procedure in 2015, and about the 2014 and 2015 graduates.