Purpose A modern trend in the educational environment in recent years has been the permanent education system with the involvement of online study modes. It is based on multidisciplinarity and adaptivity of educational technologies, starting with the basic level of education – bachelor’s degree, and ending with gaining competences in the field of engineering and economics throughout the whole professional life of a student. The purpose of this paper is to perform a detailed analysis of development of permanent education in Russian universities, focusing on statistical data on popularity of jobs as to professional groups among employers and determining peculiarities of permanent education, based on the distinguished peculiarities of permanent education and requirements of business to develop a model of engineering and managerial education that would integrate two blocks of the educational process – engineering and economic, as well as include modern technologies of teaching. Design/methodology/approach The authors propose the modern model of engineering management education that is implemented in the Russian technical universities. Its distinctive feature as compared to the conventional educational technologies is gaining competences in the field of economics and management at the same time with engineering education at the second stage of education – the master’s program. The proposed model of engineering and management education results in obtainment of two diplomas by the student who is awarded with a master’s degree in engineering and a master’s degree in economics. A difference of the offered model from the traditional educational technologies is obtaining competences in the sphere of economics and management together with engineering education at the master’s program. The result of the offered model of engineering and managerial education is graduate’s receiving two diplomas with master’s degree of engineer and master of economics. The paper shows the existing mechanism of implementing the model of engineering and economic education in a technical university by the example of the master’s program in Economics “Evaluation of economic risks during technological decisions (in oil processing and oil chemistry).” Findings The offered model of engineering and managerial education will allow training the engineers of a new type, who will be able to adapt to new tendencies and initiate the changes that are necessary for effective functioning of business in the conditions of digital economy. Originality/value The offered model of engineering and managerial education should be acknowledged as an innovational educational project that raises demand for graduates through their adaptability to employer’s needs and their usage of new tools of management that are based on exchange of information data and that form managerial task for information provision of the process of decision making and their further execution.

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