UNEC has 14 faculties, where 18.5 thousand students get education, also has 5 branches, and it offers master programs in 57 specialties, employing more than 1000 teachers, including 62 professors and 344 docents, among whom there are active members of the Azerbaijan National Academy of Sciences, New York Academy of Sciences, winners of state awards, honored teachers and scientists.

With the onset of World War II, UNEC was folded into Baku State University's Department of Economics.

It remained under this name until March 1959, when war caused it to be folded back into Baku State University.

In 1966, the school separated once again, and has remained independent since, initially as the Azerbaijan National Economic Institute named after Dadash Bunyadzade.

However, the official opening of the branch of the Azerbaijan State Economic University in the city of Derbent of the Republic of Dagestan of the Russian Federation was held only in November 2016.

A joint project entitled "Entrepreneurship education: as the main factor in creation of jobs and employment in Azerbaijan" started in 2016 and is planned to be completed in 2019.

[8][9] UNEC was declared the winner of the TEMPUS IV program of the 6th convocation for a project called "Development and improvement of university management in the field of international relations".

Closing ceremony was attended by such personalities as the rector of ASUE Adalat Muradov, head of the office of the national program Erasmus+ Azerbaijan Parviz Bagirov, representative of the Ministry of Education of Azerbaijan Yashar Omarov, UK University of Warwick Fellow James Kennedy, Vice-Rector for International Relations and Programs ASUE Shahin Bayramov and as well as representatives of the Ministry of Education of Ukraine, Kyrgyzstan and Tajikistan.

[12] In addition to the London School of Economics and Politics, students can receive a second diploma from the French University of Montpellier in 2016.

[13] 2006 – Azerbaijan State University of Economics was awarded the "Golden Fortune" prize, which was held by the International Academy of Rating Technologies and Sociology.

[17] 2008 – At the conference held in Ankara, UNEC received an award for the contribution and development of the Turkic world and culture.

[18] 2009 – The International Academy of Professionals, which was established in Kyiv in 1996, awarded the "Golden Medal" to the Azerbaijan State Economic University for merits in the scientific sphere and training of personnel.

Curiously, both Yusif Vazir (Chamanzaminli) (1887-1943), the Core Author of Ali and Nino,[27] as well as Essad Bey / Lev Nussimbaum (1905-1942) both attended this school.

Vazirov attended Baku Realni High School (having transferred in as a refugee from Shusha) beginning in 1906 and he graduated in 1909.

Though Nussimbaum was often absent due to sickness and political unrest, he was enrolled from Junior Preparatory to the beginning of Fourth Grade when he fled the Bolshevik takeover of the Baku government (1920).