On November 23, scientists from the Faculty of Economics and Management of Sumgayit State University participated in an online seminar organized by the Department of General Economic Theory and History of Economic Thought at St. Petersburg State University of Economics, entitled "Theory of Contradictory Economic Systems in the Context of S.Q. Kirdina's Ideas" (based on the monograph "X-Y Economics: Institutional Analysis").

The seminar was attended by the head of the Department of Economics of the Faculty of Economics and Management of SSU Lala Mahmudova, senior teachers of the department PhD Shahla Jamilzade and Mahammad Ahmadov. The head of the Department of Economics, Associate Professor Lala Mahmudova, greeted the seminar participants and stressed that the relations between higher education institutions are based on common values, such as relations between nations. She noted that both universities appreciate the conduct of joint research, joint seminars, conferences and scientific events. The main mission of higher education institutions is to train highly qualified specialists who have fundamental knowledge and innovative research skills in the field of multidisciplinary continuing education and scientific research in accordance with world standards, and who are competitive in the international and national labor markets. It is important to hold such seminars in this direction.

Then associate professor Lala Mahmudova spoke on the topic. She noted that the institutional matrix is a historically formed complex of basic institutions that are interconnected and regulate the activities of key social spheres (economy, politics, ideology). “X and Y matrices differ from each other, each of them has its own characteristics. Each of the types of institutional matrices is formed under the influence of the characteristics of the material and technological environment of the state. In modern times, the institutional matrix is used to find complete answers to questions related to digitalization. The institution of public and private property, which forms the economic sphere of the country with matrix X and Y, influences the state's policy of forming the information society. Today, there is no specific indicator that determines the exact share of the state in the digital sector of the country's economy. Alternatively, an e-government development index is proposed. Creation of online companies and firms in digital business, development of telecommunication networks is carried out with the direct participation of the state. In the context of the digital transformation, the ratio of public and private property, in our opinion, is determined by the share of government and business in the online environment. However, the functions performed by the state are broader. It not only provides services, but also exercises control. The institutional matrix is the basic structure of property rights and the political systems of society. Economic and political institutions are interconnected, and each society forms its own institutional matrix”.

Mahammad Ahmadov, Senior Lecturer of the Department of Economics, spoke at the seminar. He noted that a lot of work has been done in Azerbaijan in recent years in the field of institutional reforms. “These achievements were achieved primarily due to the political will of President Ilham Aliyev, the existing socio-political stability in the country, good governance, clear definition of the main goals of economic development, implementation of state programs and reforms to meet the needs of society. Reform technology is being improved in our country, which is due to program management. Over the past 18 years, more than 200 program documents have been adopted, including 12 strategic road maps, more than 90 state programs, more than 20 action plans, more than 15 national plans and programs.”

Then there were extensive discussions on the topic.