Sustainable Development Goals at Baku State University.

A scientific seminar was held at Baku State University (BSU) jointly organized by the Faculties of Mechanics and Mathematics, International Relations and Economics. At the event, Professor Elshar Orujov, Head of the Department of Mathematical Economics at the Faculty of International Relations and Economics, and doctoral researcher Nazrin Burcaliyeva delivered a presentation on “Spectral Cointegration Analysis of Financial-Economic Time Series.”

The presentation highlighted the non-linear characteristics of financial-economic processes in modern conditions and emphasized the necessity of modifying classical econometric estimation methods in response to new challenges. In line with the requirements of innovative econometric models, the importance of developing models for linear and non-linear trend-based fluctuation processes was underlined. The analysis covered stationary oscillatory harmonic components, oscillatory components with evolutionary amplitudes, quadratic and exponential trends, as well as long-term equilibrium movements of real practical time series using cointegration approaches. Additionally, correlation coefficients derived through sine and cosine functions, periodogram and spectrogram analyses were reviewed.

The seminar also focused on Fourier causality analysis and the construction of the Fourier ECM model for non-stationary time series using explicit mathematical expressions. Challenges arising during the modeling process—including theoretical and statistical issues—were discussed, with explanations offered on potential solutions. The adequacy of estimated spectral cointegration relationships, as well as the accuracy of model outcomes for short-term and long-term dynamics, was examined.

The session concluded with a Q&A segment, during which the speakers answered participants’ questions.

SDG 4 (Quality Education), SDG 8 (Decent Work and Economic Growth) SDG 9 (Industry, Innovation and Infrastructure)