The Novosibirsk Institute of Soviet Cooperative Trade was founded in March, 1956 by the decree of the USSR Council of Ministers and the Board of Centrosoyuz of the USSR (the Central Union of Consumer Cooperatives). It was aimed at training professional staff for consumer cooperatives of Siberia, Ural, the Far East and Kazakhstan.
The institute was temporarily housed in the building of the Regional Union of Consumer Cooperatives in the center of Novosibirsk (Krasny Prospekt, 29). The location for the construction of academic and residential buildings of the institute was chosen on the left bank of the Ob River, next to the newly built Oktyabrsky Road Bridge.
The first rector of the Novosibirsk Institute of Soviet Cooperative Trade became Professor Nikolai Protopopov, a famous geographer, social activist, head of the regional society "Knowledge".
The departments for teaching general subjects chose their academic staff mainly from those who lived in Novosibirsk. The departments for teaching special subjects were looking for experienced lecturers and professors outside Novosibirsk and Siberia, as there was a shortage of highly qualified specialists in the relevant fields in the region. The first specialists came from Moscow, Minsk, Leningrad, and Tomsk.
The Siberian Branch of the USSR Academy of Sciences founded in 1957 also played an important role in training and developing the academic and research staff of a new institute.
The brightest, the most talented and motivated out of the first graduates of the institute stayed to teach. They also started research in Economics and successfully defended first dissertations and received research degrees – Candidate of Science and Doctor of Science. Many University alumni teach at the University, hold senior positions, for example, Vice-Rector for the Quality of Educational, Doctor of Economics, Professor Zoya A. Kapelyuk; Vice-Rector for Academic Affairs and Research, Doctor of Science in Engineering, Professor Valentina I. Bakaytis; Dean of the Economics and Management Faculty, Candidate of Science in Economics, Associate Professor Oleg N. Petrushenko.
In 1960 a new building of the institute on the left bank of the Ob River was built to house rector's and deans' offices, departments for special and general subjects. Departments for natural and technical sciences, laboratories still stayed in the building of the Regional Union of Consumer Cooperatives on the right bank of the Ob River. In 1966 the main academic building was built providing all necessary facilities, lecture rooms, laboratories for students and the faculty.
In the early 70s the University campus already had all modern facilities: two academic buildings, four halls of residence, four residential buildings for faculty and staff. Later the University built a daycare center for children (140 places), a medical center, a recreational center on the bank of the Ob River.
At first the University enrolled 250 students, started with two faculties providing full-time education in Economics, Commodity Science and Trade.
The University introduced new programs, including programs of secondary vocational education, and a multilevel system of education.
Today the University has 17 departments, offers programs at all levels of study with opportunities to specialize in high-demand fields.