A profile of Kirill Lysenko, a second-year master's student in World Economy.

Kirill Lysenko, talks about his experience, professional interests, and the place of the world economy in his and our lives. 

“If you successfully choose your labor and put your whole soul into it, then happiness itself will find you.” (Konstantin Dmitrievich Ushinsky) 

 

Meet Kirill Lysenko, a second-year master's student in World Economy, a graduate of the bachelor's program in World Economy, a medalist of the Higher League Olympiad, an analyst in the Sovereign and Regional Ratings Department at Expert RA, a guest lecturer at the Faculty of World Economy and International Affairs, (WEIA), and a laboratory assistant at the Center for Comprehensive European and International Studies, (CCEIS). Kirill talks about his experience, professional interests, and the place of the world economy in his and our lives. 

 

Tell us, why did you continue studying in the field of World Economy?

During my bachelor’s studies at the WEIA Faculty, I became acquainted with many current issues in the field of world economy and gained the necessary foundation for their analysis. Overall, by the end of my fourth year, it was already clear that I had at least three bundles of neural connections in my brain suitable for application in the labor market: one responsible for economics, the second for languages, and the third for mathematical and statistical tools. And it seemed to me that the most natural way to develop and apply these three bundles was precisely to continue studying and working in the field of world economy. 

Moreover, by that time, my perception of this subject area had shifted from the category of "sounds cool, probably there are high salaries in this field" to "this is such an unplowed field, there is still so much to explore, apply, and change here." At the time of choosing my master's program, I had no desire to leave the country, and within the country, I saw no better alternatives than my alma mater. So, it could be said that all the road signs pointed directly to the World Economy Master's program. 

 

Are you satisfied with your choice? Tell us, what do you like most about our program?

Absolutely! 

I like that my master's program, like my bachelor's program, is not “а Potemkin village”. Here, there is a genuine desire to provide knowledge and opportunities for its application. There are no useless subjects created just for the appearance of education, no incompetent teachers, and no feeling of hopelessness within the university walls. 

The World Economy program is a boiling broth, and once you enter it, you are thoroughly imbued to the bone with the latest information about the mechanisms underlying global economic processes, as well as the tools necessary for the work of a modern economist. The "chefs" preparing you are experts recognized in the scientific community and specialists-practitioners working on real-world cases from various commercial and departmental organizations. 

Moreover, here you are not only taught but also given the opportunity to experience the role of creators yourself through numerous projects that you are invited to participate in from the first day of your enrollment in the program. 

 

What exactly are you working on in your master's thesis, and why did you choose this topic?

In my master's thesis, which I am writing under the supervision of Professor Anastasia Podrugina, I am investigating what has determined the share of income allocated by Chinese households to savings over the past 15 years. 

The topic is quite extensive. It includes the analysis of factors influencing the income level and economic security of different social groups, the assessment of the credit and investment situation in China, and the construction of econometric models from macro to micro levels. 

I chose this topic due to its relevance: China's current development model, which the country's authorities are trying to move away from, is largely oriented towards a high level of investment, based on strong savings activity of the population. 

At the same time, the potential for development through export expansion is limited in the face of increasing international protectionism, and domestic demand is also relatively weak due to the high propensity to save. 

Essentially, unraveling the knot of savings patterns is an important step towards understanding the root causes and ways to eliminate the existing structural imbalances in the economy of the country, which is Russia's largest trading partner. 

 

Do you have any scientific publications? What are they about?

Yes, I do. 

Starting from my fourth year of bachelor's studies, I gradually began to participate in writing various articles and continued this activity in my master's studies. 

Most of the work was created as part of our department's project on the impact of sanctions on the global economy. For example, within this project, in 2023, prof. Podrugina and I published a paper on the international surge in inflation from 2021-2023. In the same year, an article with E.A. Makarova and E.V. Smolovik was published on the state of the green bond market under conditions of sanctions shocks. 

In 2024, this list was supplemented by an article on the 2023 banking crisis in the United States, as well as a chapter with prof. Podrugina in the textbook "Macroeconomics. A Practical Guide to Country Analysis" on international reserves. 

Some of the results of our project on the impact of sanctions on the global economy were presented at a student conference in Yerevan in 2024. In addition to research in the field of international finance, during my master's studies, I also participated in writing a manual by the Center for African Studies on E-Governance in the African continent. 

 

 

 

Please share how you manage to combine your master's studies with work and other scientific activities.

Patience and hard work will overcome everything. There are no time management secrets sold by fraudsters and coaches. I simply do what I enjoy, so I'm willing to devote almost all my time to it without burning out. Moreover, all my activities complement each other very well. My research activities at HSE University allow me to gradually improve my understanding of the world economy. 

Simultaneously, my analytical work at the rating agency prevents me from sitting in an ivory tower and gives me the opportunity to engage with the everyday reality of the financial world. And teaching is an ideal indicator for the quality and relevance of all this knowledge, as well as a driver for filling in any possible gaps in it. 

 

Tell us, how did you get into teaching? Was it scary to start?

When I was in my first year of master’s studies, there was a need to replace a seminar instructor in the online minor "Financial Decisions in International Companies." I was offered this position and out of curiosity, I decided to try it. It was indeed scary to start. And it was also scary to start another course, "International Finance: micro and macro aspects," which I took on in my second year, but in an offline format. 

However, both times, the fear quickly subsided, and I was overcome by the enthusiasm associated with the incredibly pleasant moments of realizing that you had either managed to explain something previously unclear to them, or tell them something new and interesting, or organize the class in an effective way. 

 

Do you plan to continue pursuing academic and teaching activities?

Yes, I do not intend to abandon this part of my life. Therefore, I decided to apply for doctoral studies in World Economy this year. I have already applied for the first wave of the entrance competition and passed all the exams. The knowledge gained at HSE University has served me very well here – thanks to it, for example, I managed to get the highest score on the written exam. The lists of accepted students will only be available in May, so even though the total scores are quite good, I won't celebrate prematurely. 

 

Have the skills and knowledge gained in the master's program been useful in your work and research activities?

Yes, and again yes. During the rating analysis of sovereign governments, I have repeatedly mentally revisited various moments from macrofinance classes and corrected myself, recalling important details that the teachers emphasized. During academic research on the banking sector and debt markets, the in-depth knowledge of banking regulation gained in the master's program has been repeatedly useful. And in my potential Ph.D. dissertation, which I want to dedicate to the impact of macroprudential regulation on the real estate market in China, I will use almost the entire explosive mixture of competencies gained in my track, from corporate finance to public finance. 

 

Why study other countries and the global economy at all?

There is no economy but the world economy. Everything is interconnected. For example, economic shocks in some countries often have external effects on other states. Moreover, there are many channels for these interconnections. The influence can manifest itself through changes in trade turnover, destabilization of external bank funding, and sudden capital flight, etc. If we want to understand what is happening in our economy, we cannot do without considering all the key external factors; otherwise, we are doomed to draw false conclusions. Accordingly, to be guaranteed to be correct in the economic discourse, it is necessary to carefully study the world economy. And then you will have the truth with you, which is where the power is found. 

And besides, specialists in the field of world economy with a good level of training are in great demand today. Our state and business are actively looking for alternatives to the markets of goods and capital of unfriendly countries. Therefore, today employers need people with expertise who can quickly and efficiently assess the situation in these areas and find solutions for establishing operations in them. However, the era of researchers of markets of unfriendly countries has not passed either – many Western organizations are still interested in cooperating with us, despite the political backdrop. 

 

 

 

The interview was conducted by Margarita Bostanchian