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a candle for my son!

Romanian Version

Iulian Vacarel
Member of the Romanian Academy

Born on November 15, 1928, in Valenii de Munte, Prahova County, in a family with six children. His father - Nicolae, was a farmer and his mother - Ioana, a housekeeper

Married to Jeana Vacarel (b. Dona), professor of biology


  • 1947 - graduate of "Spiru Haret" Commercial High School, Ploiesti
  • 1947-1948 - attended the courses of the Faculty of Commercial Sciences, Bucharest
  • 1948-1950 - after the education reform, is sent to continue his studies at the Faculty of Finance and Credit, where he graduates as first in his series
  • 1950-1954 - PhD Studies, obtaining the title of PhD in Economy in 1954, at the State Economic Institute in Moscow. Dissertation on "Financing the Heavy Industry in Romania"

Professional Career

  • 1954-1960 - economist, scientific researcher and other executive positions, Ministry of Finance
  • 1960-1978 - successively general secretary, deputy minister and first deputy minister of finance. Main preoccupations:
    • preparation of the draft state budget
    • monitoring the execution of the approved state budget
    • elaboration of the state budget closing account
    • participation at the elaboration of the draft cash and credit plans, of other substantiating value-based plans
    • analysis of the economic-financial activity at micro, medium and macroeconomic levels
    • participation at activities of large complexity and amplitude like:
      - reassessment of the fixed assets and establishment of the regulating their paying off
      - optimization of material stocks and circulating means normative
      - readjustments of wholesale prizes and identification of the financial influences thus resulted
      - elaboration of input-output balances
      - upgrading of the methodology for financial planning and establishment of financial indices
      - improvement of the techniques used to design and maintain the financial equilibrium at the level of the national economy, on economic sectors and enterprises, as well as in territorial profile
      - harmonization, at the level of international standards, of the working instruments and the regulations concerning the insurance for goods, persons and for civil responsibility
  • 1978-1987 - ambassador extraordinary and plenipotentiary of Romania to the Kingdom of Belgium and the Grand-Duchy of Luxembourg, as well as de facto representative of Romania to the European Economic Communities. Main coordinates of his activity abroad in the economic field:
    • promotion of the commercial exchanges with the EEC countries, especially with Belgium and Luxembourg
    • identifying the non-tariff obstacles limiting the commercial relations and the economic and technical-scientific cooperation with Belgium and Luxembourg, with a view to eliminating them
    • improvement of the generalized custom schemes granted to Romania by EEC in order to attain the level benefiting the other developing countries
    • enlarging the legal framework ruling the relations of trade, cooperation and in other fields between Romania and the EEC etc

Academic Activity

  • 1954-1969 - associate professor, Academy of Economic Sciences, Bucharest
  • Since 1965 - guidance for PhD Candidates, specialties finances, credit, money circulation, insurance and reinsurance
  • 1969-1999 - university professor, Academy of Economic Studies, Bucharest, for the following disciplines: "Romania's Finances", "Finances of Capitalist States", "Financial Equilibrium", "International Tax Mechanisms", "International Financial Relations", "Insurances and Reinsurances", "Public Finances"
  • Since 1999 - consulting professor, Academy of Economic Studies, Bucharest

Other responsibilities

  • former member of the Editorial Staff of the revues "Finante si credit" (Finance and Credit) and "Viata Economica" (Economic Life)
  • former member of the Higher Education Diploma Commission at the Ministry of Education
  • member of the Editorial Council of the Romanian Academy Publishing House
  • member of the Editorial Staff of the revues "Romanian Economic Review" si "Revista romana de economie" (Romanian Revue of Economy)

Publishing Activity

  • university courses, several editions
  • numerous studies of fundamental and applicative research, at the level of enterprise, economic branch, at macroeconomic level and at world economy level
  • works - selective list
    • Probleme ale teoriei finantelor (1963) (Problems of Finance Theory)
    • Tendinte in evolutia postbelica a finantelor publice: tari dezvoltate, tari in curs de dezvoltare (1968) (Trends in post-war evolution of the public finances in the developed and developing countries)
    • Finantele Romaniei (1974) (Finances of Romania)
    • Finantele si cerintele dezvoltarii agriculturii pe plan mondial (1976) (Finances and the requirements of agriculture development at a world level)
    • Finantele publice. Teorie si practica (1981) (Public Finances: Theory and Practice)
    • Probleme ale dezvoltarii economiei mondiale: imperative, obstacole, alternative (1989) (Issues of the world economy development: imperatives, obstacles, alternatives)
    • Relatii financiare internationale (1995) (International Financial Relations)
    • Politici economice si financiare de ieri si de azi (1996) (Economic and Financial Problems from Yesterday and Today)
    • Finante publice (co-author and coordinator - 1992 and 1999) (Public Finances)
    • Asigurari si reasigurari (co-author and coordinator - 1993 and 1998) (Insurances and re-insurances)
    • Politici fiscale si bugetare in Romania 1990-2000 (2001) (Fiscal and Budgetary Policies in Romania 1990-2000)
  • took part in the elaboration of following documents of retrospective and prospective analysis:
    • Schita privind strategia infaptuirii economiei de piata in Romania (An Esquisse of Strategy on carrying out the market economy in Romania - 1990)
    • Strategia nationala de pregatire a aderarii Romaniei la Uniunea Europeana (The National Strategy for Romania's Preparation to Adhere to the European Union - "Snagov I", 1995)
    • Evaluarea starii economiei nationale (An Assessment of the National Economy State - ESEN 1, chapter "Public Finances - 1999-2000)
    • Strategia nationala de dezvoltare economica a Romaniei pe termen mediu (The National Strategy of Romania's Mid-Term Economic Development - Snagov II, 2000)
    • Evaluarea starii economiei nationale (An Assessment of the National Economy State - ESEN 2, chapter "The System of taxes and tariffs in the European Union and Romania - 2001)

Participation at international manifestations

  • colloquia and symposiums on economic, financial, monetary etc matters in:
    • Paris (1966)
    • Bucharest (1969, 1971, 1990)
    • Oxford (1970)
    • Moscow (1976)
    • Brussels (1979)
  • congresses of the International Institute of Public Finance: Nuremberg (1971), New York (1972), Barcelona (1973), Neptun (1974), Nice (1975), Edinburgh (1976), Varna (1977)
  • First Congress of Third World Insurances (Manila, 1977)
  • meetings of the Council on Mutual Economic Aid  (COMECON) and of the International Bank of Economic Cooperation: Warsaw (1963, 1967), Bucharest (1963), Moscow (1964), Leningrad (1967)
  • meetings of the Joint Commission Romania - European Economic Community (1978-1986)
  • meetings of the Joint Commission Romania-Belgo-Luxembourger Economic Union (1978-1986)
  • academic sessions organized in Brussels, Luxembourg, Liege, Mons, Antwerpen, Charleroi, Tournay, Waregem, Willebroek, Gand, Louvaine la Neuve etc
  • lectures for the Parliamentary Group of Friendship Belgium-Romania and several groups of members of the European Parliament (1978-1986)


  • since 1969 - member of the International Institute of Public Finances. Member of the Board of Directors (1973-1978)
  • since 1970 - corresponding member of the Academy of Social and Political Sciences
  • 1993-1994 - corresponding member of the Romanian Academy
  • since 1994 - full member of the Romanian Academy
  • since 2001 - President of the Romanian Academy Commission on economic history and history of economic thinking
  • member of the National Council of the General Economists Council of Romania

Orders, Medals and Awards

  • 1964 - Prize of the Ministry of Education
  • 1974 - Prize "P.S.Aurelian" granted by the Romanian Academy


Bucharest, Sector 1, 10, Eng.Cucu Starostescu St., Apt.4

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