Professor at Business School

Nikoloz Kavelashvili is currently Board Member of National Bank of Georgia. He is also Professor at Ilia State University (ISU) Business School. Until early 2016 he served as Deputy Head of Administration and Chief Financial Officer at ISU. Before ISU, for more than five years, he was Director of the Georgian Regional Development Fund, a project of Millennium Challenge Georgia Fund (MCG). The Regional Development Fund aimed to develop the Georgian Economy through investing risk capital in regional Georgian small and medium enterprises. Before MCG, he was the Vice President and Georgia Country Manager for Bedminster Capital Management LLC a USD 200 million investment fund, supported by the Overseas Private Investment Corporation, an agency of the United States Government. Nikoloz Kavelashvili also worked as the Executive Director of the Open Society Georgia Foundation, Head of Conoco’s Batumi office, International Monetary Fund (IMF) and United Nations Development Program (UNDP) offices in Georgia and completed an internship at the United Nations Headquarters.
Nikoloz Kavelashvili holds PhD in Business Administration from ISU, MA in Economics and Finance from State University of New York at Binghamton and MS in Physics from Tbilisi State University.

Scientific interests / research interests

Finance, Banking, Portfolio Management, Developmental Economics, Econometrics, Monetary Policy

Featured publications

“Financial Systems at Two Universities in the United States and Implementation of Similar System at Ilia State University” October 2014, International Research and Exchanges Board


 Introduction to Efficient Market Hypothesis.“  (in Georgian) Ilia State University -2013

Articles in magazines

„Coulthe Prices of Securities be Forecasted.“  „Forbes“ Georgia, August 2013

Overview and Ranking of Georgian Banks  „Forbes“ Georgia, June 2013

Current Courses

Course Catalog

Current Courses

  • Managerial Finance 1, Managerial Finance 2, Portfolio Management

Managerial Economics ISU 2008-2011
Introduction to the Financial Markets ISU 2011
Public Sector Economics ISU 2011-2012
Microeconomics ISU 2009-2010
Financial Analysis For Managers Free University 2007-2009
Investments Free University 2008-2009
Financial Accounting Agrarian University 2012 (Spring semester)