The International Institute of Economics, Law and Management (IIELM) was established in 1996 on the initiative of North Rein-Westphalia State government (Germany) and Nizhny Novgorod Region administration as a structural unit of Nizhny Novgorod University of Architecture and Civil Engineering.

This is one of a few institutions of higher education in Russia that grants its students an opportunity to receive a diploma acknowledged in Western Europe. The Diploma is considered to be equal to diplomas of Fachhochschule Koeln and Aachen (Germany), and Hogeschool Zuyd (The Netherlands).

IIELM is financed by European Union, Russian Federation Government, and the government of North Rein-Westphalia.