On November 1, our department was renamed after Oleg Balatskyі and from now on its Oleg Balatskyi Department of Management. The name is not random, it is Doctor of Economics, Honored Worker of Science and Technology of Ukraine Oleg Fedorovych Balatskyі has founded the Department of Management. Professor Balatskyi has started an economic school in Sumy. His methods and ideas have inspired many people to study environmental economics. He was the first scientist in the country who theoretically developed and proved experimentally the vitality of the Environmental Economics which was new field at that time. The Institute of Finance, Economics and Management has grown from the "Economics" section of the Department of Mechanical Engineering Technology that was supervised by Oleg Balatskyі.

There are 6 doctors of sciences and more than 30 PhD in Environmental Economics got their academic degrees under supervision of Professor Balatskyі.

The fruitful scientific work of Professor Balatskyі was highly praised. He was awarded with a medals and awards during his life.

Lyudmyla Mykolayivna Balatskaya congratulated the department on this event:

«I congratulate the teachers and students of the Department of Management with the this acknowledgement of the name of Professor Balatskyі, the founder of the scientific school.   The department is known for the achievements in trainings of high-class specialists in economics and management in our country and abroad. I'm sure, that maintaining and preserving traditions of founders the team is able to make a significant contribution to the development of new challenging research projects.

I wish everyone health, success, new projects and a little luck and personal well-being!»