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Financial and Economic University of Mongolia

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Description of Financial and Economic University of Mongolia

  • Established: 1924
  • Location: Ulaanbaatar, Mongolia
  • Language of instruction: Mongolian
  • Type: state.

The University of Finance and Economics of Mongolia was founded in 1924, and since then the main principles of the institution have remained unchanged:

  • To develop each student’s natural data and desire to use them for the benefit of society
  • Constantly improve and improve the quality of education
  • Find an individual approach to each student
  • To serve as a role model for other Mongolian universities, to be a leader in training personnel in the field of business and economics.

The University was the first higher educational institution in Mongolia to receive the award of the Mongolian Management Association in the nomination “Organization of Management of Excellence”.

The University has a Student Development Center, which consists of:

  • Main Service Department
  • Consulting center
  • Student Employment Support Center.

The center was created with the financial support of the Ministry of Education, Arts and Culture of Mongolia. The main tasks:

  • To provide comprehensive assistance to students in employment
  • Organize leisure activities for students
  • Create a staff base of students (part-time) and graduates (full-time employment)
  • Organize community service
  • Create student development programs
  • Collaborate with authorities and private organizations
  • Provide discounts for students registered at the center for public transport
  • Help in obtaining timely and qualified medical examination.

Programs and prices, tuition fees in Financial and Economic University of Mongolia

Program name
All year round
Check with our specialists
There are either 2 semesters or 3 trimesters (terms) in one academic year
All year round
Check with our specialists
There are either 2 semesters or 3 trimesters (terms) in one academic year

Accommodation, meals, prices

Across the street from the main building is a student dormitory, where all foreign students can get a place. The accommodation is double, the rooms are fully furnished. Cafes, shops and supermarkets are within walking distance.


  • The only financial and economic university in Mongolia
  • Collaboration with many Russian and European universities, including the creation of research collaborations
  • Extensive selection of study specialties
  • Opportunity to receive education both in-person and in absentia
  • University - winner of many awards, awarded prestigious awards

Facilities and equipment at Financial and Economic University of Mongolia

A large role in the self-education of students is played by the university library, which has been operating since 1924. The library has 13 employees, it consists of 8 departments and is designed for the simultaneous stay of 220 students. The fund includes more than 65,000 publications, including:

  • Books in Russian, Mongolian, English and other languages
  • Textbooks, periodicals, teaching aids and multimedia files.

Each student is assigned an identification number, after entering which the fund of not only the library of the Financial and Economic University of Mongolia, but also partner universities becomes available. During the sessions, reading rooms work in a special enhanced mode.

Admission dates and extra charges

The academic year at the university begins in September. Additional costs include payment of room and board.

Entry requirements, how to apply, what is required to enrol

Applicant must provide:

  • Certificate of general secondary education
  • USE certificates with the required number of points in core subjects of the chosen specialty
  • HIV certificate
  • Copy of passport.

Scholarships Financial and Economic University of Mongolia

Students who work 15 credit hours in one semester and earn an average grade of 3.4 or higher are listed on the UFE President. A student who is on the president’s list for the second time receives the title of “Best Student of the University,” with which he is offered a discount of 25 to 100% on tuition fees.

Another measure of support is grants from sponsoring enterprises that are awarded for academic excellence.

Institution on the map

Residence permits, citizenship and other services

  • Guardianship services during the studies
  • Student supervision

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Recommendations on when to apply

Language courses, schools and children's language camps Primary and secondary education - private schools Preparation programmes for entering universities - higher education Higher education (after completing accredited programs A-level, IB, High School) - Bachelor, Master, MBA
- we recommend to apply 6-9 months before the start of the course (some camps and schools offer discounts for early booking or for lengthy study programs)
- there are some very popular and high demand children's camps, where the applications need to be submitted 1 year in advance (in particular Switzerland , Great Britain , USA , Canada , Austria)
- we recommend to apply one year before the start of the training program,
- some schools have a specific time frame (September-November - please specify an individual school)
- some schools require tests in several stages (UKISET, internal tests of the school: English, mathematics, logics, subjects, interview, some require a personal visit)
- we recommend to apply one year before the start of the program,
- for Foundation and Pathway programs, IELTS and TOEFL certificates are usually required, respectively

- recommended submission one year before the start of the program,
- the deadline normally closes in January, for TOP HEIs and, as a rule, in March in other universities
- for a bachelor, a Foundation or Pathway preparatory program a completed A-level, IB, High School + IELTS / TOEFL are required
- for Masters you need a graduated higher education, in some cases you need a pre-Masters program
- MBA requires completed higher education, work experience preferably at least 2-3 years, etc.

Similar educational institutions

Mongolian State University
from 770.00 $ / year

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Egor Eremeev
Current material has been prepared by Egor Eremeev
Education: Westminster University (Business & Management), London.
Egor studied and lived in the UK for 8 years and graduated from the university of Westminster. He is currently the co-founder and the director of business development at Smapse Education and personally visits foreign schools and universities, interviews students studying in those institutions.
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