This paper focuses on the issue of multiculturalism and multi-confessionalism management through higher education system in the North Caucasus, Russia, Pyatigorsk State University (PSU) in particular, and in the world in general. The authors show the positive effect of educational strategy on economic development of the regional socio-economic system through the emphasis on the necessity to shape a universal scheme for intercultural understanding and tolerance fostering. The article gives the analysis of the modern international experts’ points of view on the problem and point out the necessity to appeal to the higher education resources in economic development of multicultural regions. Subsequently, the authors concentrate on the positive change in the North Caucasus in previous decades due to the constructive transformations in multicultural society according to the Federal government policies. The article provides exemplification of PSU initiatives – the educational techniques for multiculturalism education through intercultural communication training. Nationality centered approach is described as an efficient tool for the ethnic cultures interaction and economic growth in the North Caucasus, Russia and suggested as a universal strategy for higher education.Keywords: education, intercultural communication, multiculturalism, the North Caucasus, tolerance, foreign languages, polyconfessionalism.