November 1, 2020, is a date that will be remembered in the history of Sumy State University. On this day, the Department of Management was renamed to Oleg Balatskyi Department of Management.
Oleg Fedorovych Balatskyі founded the Department of Management, was a pioneer of economic science in Sumy region, and was a co-founder of the national school of Environmental Economics. His academic and scientific activity became a catalyst for economic education at the university level in Sumy. Training of highly qualified professionals gave a powerful impetus to the development of universities in Sumy region and beyond. The graduates from the scientific school of Professor Balatskyі became acknowledged scholars, heads of the departments, and high authorities of universities in Sumy region. The existence of this school enabled the opening and development of faculties in Economics, Business, and Management at many universities and institutions.