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Regular version of the site
Master 2019/2020

International Economics: Changes after the Great Recession

Type: Compulsory course (World Economy)
Area of studies: Economics
When: 2 year, 1, 2 module
Mode of studies: distance learning
Master’s programme: World Economy
Language: English
ECTS credits: 3

Course Syllabus

Abstract

This course aims to make graduate students familiar with the major concepts, factual materials and debates in global transformational processes since the last quarter of the 20th century. The course is aimed to develop the students’ comprehension of the complexity of the global socio-economic transformations for roughly four decades. On the one hand, in this period of history we observe a great success of development policies and technological changes. On the other hand, crisis and commodity price fluctuations, Great Moderation and Great Recession were in the center of events. This course’s focus is also on the comparison of three main types of economic systems: Anglo-Saxon, Continental and Asian by now. The course covers many issues to compare legal systems, corporate governance, financial market, energetic systems, human capital, inequality, social policies, etc. Special attention is paid to corruption and organized crime
Learning Objectives

Learning Objectives

  • To make graduate students familiar with the major concepts, factual materials and debates in global transformational processes since the last quarter of the 20th century.
  • To develop the students’ comprehension of the complexity of the global market, socio-economic complexities of transformation for roughly four decades.
Expected Learning Outcomes

Expected Learning Outcomes

  • Able to learn, to acquire new knowledge and skills.
  • can work with the information: to find, assess and use the necessary information from different sources
  • can assess and revise the experience, to cogitate professional and social activity
Course Contents

Course Contents

  • History of economic development
    Demography and Growth - stylized facts. Role of institutions in economic history. Great Divergence. Understanding of Great Divergence and opportunities for a new global convergence
  • Three types of economic and legal systems
    The Anglo-Saxon system, the Continental (European) system, the Asian system and their evolution. Convergence and Divergence of systems. Russian system as a hybrid. Comparative Law and Economics: Main principles and cases from different legal and economic systems
  • Economic Growth and Technological Progress
    Development of global markets for goods, global financial and labor markets. Trends and Theories. Creation and implementation of innovations: Main drivers and impediments.
  • Global Development in 1975 – 2016
    Emerging of Global problems. Turning to the sustainable development. Key factors: Geography of Growth, Poverty, Energy, Food and Water.
  • Business Organization in the modern economy
    Ownership and business. Market-based corporate governance and corporate control: differences, mixes and compositions. Bankruptcy, Mergers, and Complexity of Privatization. Effectiveness of decision making in the corporate world. Modes of governance in global value chains.
  • Russian hybrid system as emerged from Transformation of 1990s.
    Economy of the SU (and Comecon) and Russia – what is the difference after all.
  • Industries and markets of the global economy
    Trends of global industrial production. Industrial organization in the globalized economy. Metamorphoses of competition at a global market level.
  • Developing world: New approach to growth.
    From Poverty to Middle income trap. Focus on BRICS. Periodization of growth, driving factors, success and standing problems
  • Maturing Postindustrial world
    New problems: European Union, Japan, the US. Future for the EU: Centralization or Coordination
  • Great Moderation – Spectacular Growth of 1990-2008 and “mines”
    Financial world: fragility or resilience? Global Imbalances. Great Recession of 2008-2009 and its long-term consequences, business cycle. Possibility of the new global crisis
  • Emerging markets and their role in global economy
    In this module we will discuss causes and consequences of emerging market-crises in 1980s and 1990s, impact of the global financial crisis of 2008-2009 on emerging-market economies, the increasing role of emerging-market economies in the global economy.There will be 5 parts of video-lectures of 15-25 minutes length.
  • EMEs, globalization and international trade
    In this module we will discuss consequences of globalization, changes in international financial institutions, emerging-market economies and global and regional trade systems.There will be 5 parts of video-lectures of 12-20 minutes length.
  • Social structure and policy
    "Social lifts" and mobility. Diverse and common interests of main social groups: Elites, Middle Class, Working Poor, Very Poor. Mobility between groups. Wealth and income disparities around the globe: Difference between countries and social inequality inside countries. Drivers of social unrest: Significance of Poverty V Inequality. Access to public goods and justice for all. Inclusive society
  • Corruption, organized crime and common actions against them in the globalized economy.
    Corruption – definition and classification. Complexity of definition, key principles, economic analysis. Social conditions for developing corruption, organized crime (mafia). Organized Crime and Corruption as “normal institutions”? Corruption: Anglo-Saxon, Continental, Asian regimes.
  • Global Governance in Transition
    The United States and their new global role in the XXI century: Global leadership or Global security? Challenges from other powerhouses. New global standards of institutional environment. Protection of human rights and democratic institutions. Civil society. The limits of national sovereignty and the external enforcement of the global institutions. Political or Economic logic in global affairs.
  • World on the move – new drivers
    New tech. revolution, National issues, Terrorism, Elite’s Conflicts. Main results and implications for Russia
Assessment Elements

Assessment Elements

  • non-blocking Устный опрос
  • non-blocking Эссе
  • non-blocking Письменный тест
  • non-blocking Контрольная работа
  • non-blocking Письменный тест
    Тест по темам, пройденным в онлайн-режиме
Interim Assessment

Interim Assessment

  • Interim assessment (2 module)
    0.25 * Письменный тест + 0.05 * Письменный тест + 0.3 * Устный опрос + 0.4 * Эссе
Bibliography

Bibliography

Recommended Core Bibliography

  • Grossmann, V. (2005). Helpman, E.: The Mystery of Economic Growth. Journal of Economics, 85(3), 297–300. https://doi.org/10.1007/s00712-005-0116-z
  • Saskia Sassen. (2008). Introduction to Territory, Authority, Rights: From Medieval to Global Assemblages. Introductory Chapters. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.pup.chapts.8159.1

Recommended Additional Bibliography

  • Blanc-Jouvan Xavier. (2014). Jan M. Smits (ed.). -Elgar Encyclopedia of Comparative Law, 2nd ed., 2012. Revue Internationale de Droit Comparé, (1), 184. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsper&AN=edsper.ridc.0035.3337.2014.num.66.1.20363.t19.0184.0000.2
  • Olivier Cattaneo, Gary Gereffi, & Cornelia Staritz. (2010). Global Value Chains in a Postcrisis World : A Development Perspective. The World Bank. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.wbk.wbpubs.2509