International Economics: Changes after the Great Recession

Master 2020/2021

Type: Compulsory course (World Economy)

Area of studies: Economics

Delivered by: School of World Economy

Where: Faculty of World Economy and International Affairs

When: 2 year, 1, 2 module

Mode of studies: distance learning

Instructors: Alexander Kurdin, Anastasia Podrugina

Master’s programme: World Economy

Language: English

ECTS credits: 3

Contact hours: 48

Full Syllabus Ask Question

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

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

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
The student is able to learn, to acquire new knowledge and skills
The student is able to 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
The student is able to learn, to acquire new knowledge and skills.
The student is able to assess and revise the experience, to cogitate professional and social activity

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

Устный опрос
Эссе
Письменный тест
Контрольная работа
Письменный тест
Тест по темам, пройденным в онлайн-режиме
Presence and participation in discussions
Essay and class presentation
Final exam

Interim Assessment

Interim assessment (2 module)
0.4 * Essay and class presentation + 0.3 * Final exam + 0.3 * Presence and participation in discussions

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
Таранов Петр Владимирович, Попова Лариса Хачатуровна, & Куликова Ирина Викторовна. (2019). Мировая Экономика И Особенности Ее Глобализации. Государственное и Муниципальное Управление, (1), 146. https://doi.org/10.22394/2079-1690-2019-1-1-146-150

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

Course Syllabus