Bachelor 2020/2021

Russian Economy

Type: Elective course (World Economy)

Area of studies: Economics

Delivered by: School of World Economy

Where: Faculty of World Economy and International Affairs

When: 4 year, 3 module

Mode of studies: offline

Instructors: Leonid M. Grigoryev

Language: English

ECTS credits: 4

Contact hours: 44

Course Syllabus

Abstract

Russian economy has been developing under idiosyncratic factors, but no comprehensive overview had been taught so far. The historic, demographic and political context is important just as patterns of consumption or energy balance. The purpose of this discipline is to analyze Russia’s economic development, its transformation process and the role in the global economy. This course is aimed to deepen the students’ knowledge about the Russian economy. Topics and discussions cover the two important features: i) the place Russia possesses (and possessed) in the world, ii) various social and economic issues studied by Russian and foreign economists. In addition to advanced studies of Russian economy, the discipline encourages students to master their communication skills, analytical capabilities and academic writing.

Learning Objectives

• To analyze Russia’s economic development, its transformation process and the role in the global economy.
• To deepen the students’ knowledge about the Russian economy.

Expected Learning Outcomes

• Names facts/events of Russian history in the VIII-XIX centuries
• Describes economic and political situation in Russian Empire in the end of XIX – beginning of XX centuries
• Describes Russian transformation processes from the XX century and up to the present time
• Describes privatization processes and their results in the ownership structure in Russia and the role of public policy in the field of private property institutions and their legitimacy; corporate control and behavior of firms.
• Desribes inequality within Russia based on the 7level structure
• Describes Russian integration after the collapse of the USSR and current regional specifics and regional problems
• Articulates key factors and stages of growth, the problems of fixed capital accumulation, interest rates and inflation, analyzes state policy in the field of economy, business cycles.
• Formulates Russia's place in the global finance system. and can describe the key macroeconomic indicators of Russia
• Describes the changes in energy consumption and production in Russia
• Describes the processes of liberalization of the movement of goods, capital and labor; information revolution and the spread of innovation in Russia
• Articulates standardization and adaptation problems of industrial sector of Russia
• Describes main issues of entrepreneurship in Post-Soviet and modern Russia
• Describes current role of the state in the economy

Course Contents

• History of Russia from Stepy, Vikings and Bizantium: geography, area, borders and neighbors, wars and losses, VIII-XIX centuries.
  Prerequisites, patterns of the key facts/events of Russian history in the VIII-XIX centuries. Specific characteristics of both geographical position and social structure of the Russian society. The aim of the lecture is to help students form a holistic view about the main stages of Russia historical development, and to analyze special features and events of these stages. Such discussion also provides information on the influence of these events on the current state of Russian economy.
• Comparative economic and social development, internal and external circumstances in Russia by 1913.
  This topic is dedicated to economic and political situation in Russian Empire in the end of XIX – beginning of XX centuries. We compare Russian economic indices to those of major actors on the international arena and reflect on social reforms carried out at that time.
• Socio-economic development of Russia in the XX-XXI centuries: transformation and changes.
  This lecture is devoted to Russia transformation processes from the XX century and up to the present time. The lecture provides information on the factors of demographics, human capital and natural capital. The lecturer and students discuss the level of socio-economic development of the country, as well as the losses caused by wars and social experiments.
• Ownership transformation; institutes of property (privatization) and corporate control
  In this lecture we consider privatization processes and their results in the ownership structure. Discussion on the topic includes the role of public policy in the field of private property institutions and their legitimacy; corporate control and behavior of firms. We also consider the legitimacy of international and Russian private property rights.
• Demographic situation. Social transformation of society (7 level structure), social inequality, poverty, middle class, elites
  We discuss inequality in various countries and inequality within Russia based on the 7level structure. The lecture provides information on lower, middle, upper classes, class stratification theory. Various inequality features appear during the discussion, i.e. the middle class and the poor and key differences between them, the highest class and the elite theory. We also consider migration issues, its types and causes to and from Russia, external and internal migration.
• Regional integration in the Post-Soviet Space.
  From the USSR and COMECON to Russia and New States. Restoration of growth, deindustrialization, institutes’ building. Russian regional specifics and regional problems.
• Macroeconomics and Growth: inflation, growth rates, interest rates, policy, ruble exchange rate.
  We discuss key factors and stages of growth, the problems of fixed capital accumulation, as far as interest rates and inflation. We also analyze state policy in the field of economy, business cycles and consider the factors that influence the volatility of ruble exchange rates.
• Russia and the world economy: macroeconomic differences.
  This lecture continues the previous one but focuses on Russia in particular and its place in the global finance system. We describe the key macroeconomic indicators of Russia: GDP growth rates, total GDP, GDP per capita etc. and talk about Russian banking system. We touch upon dissimilarities in Russian and some foreign economic systems as well.
• Globalization and Russia: foreign trade, migration, investment, information and innovation
  Factors involved in the concept of globalization. In particular, we discuss the processes of liberalization of the movement of goods, capital and labor; information revolution and the spread of innovation. The lecture emphasizes the role of globalization in economic development and the place of Russia in global globalization process.
• Energy: world dynamics, technology and environment, interfuel competition and energy transition
  The lecture highlights the changes in energy consumption and production in the world and innovations in energy industry. We discuss uneven distribution of resources, energy conflicts and fuel transit. All the counterparties engaged in energy sector have their own interests here: consumers, companies, ministries (taxes), countries (access). We talk about these interests and define the concept “inter-fuel competition”. We also provide information on the transition to alternative energy sources and the role of the energy sector in the Russian economy.
• Industry in the 21st century: structural shifts and adaptation problems
  The lecture describes the world industrial sector: its structure and dynamics. We talk about the types of different countries according to their level of economic development (developed, developing, economies under transition) and these countries’ industrial development. We also discuss standardization and adaptation problems and highlight industrial sector of Russia (i.e. transition to the new industry classification, regional differences).
• Enterprise problems and behavior: Sources of investments and Innovations
  The topic covers the main issues of entrepreneurship in Post-Soviet and modern Russia. We provide the outlook on its institutional basis, international interconnections of the companies and their hurdles and talk about the role of innovations for successful activity. We aim to show differences
• Public sector: the budget and interest rates, environment and urbanization, human capital and defense. Strategic planning – existing programs
  The role of the state in the economy is always under discussion. We consider whether the state should simply establish rules or be a key participant in the economic process. We also ask what areas of activity should be under the control of the state and how this control should look like. The discussion aims to analyze the role of Central Bank and public debt issues as far as the role of the state in Russia. We highlight state budget of the country and pay attention on strategic planning (priorities, benchmarks, resources). Finally, we consider what are the key budget support programs for the state.

Assessment Elements

• Test 1
• Class attendance
• Test 2

Interim Assessment

• Interim assessment (3 module)
  0.5 * Class attendance + 0.5 * Test 2

Bibliography

Recommended Core Bibliography

• Ekaterina V. Slesarenko. (2019). Structural modernization as the basis of progressive and safe social-economic development of the Russian economy. Aktualʹnye Problemy Èkonomiki i Prava, (1), 993. https://doi.org/10.21202/1993-047X.13.2019.1.993-1006
• Leonid Markovich Grigoryev, Pavlyushina Victoria Alexandrovna, Vlada Vladimirovna Brilliantova, & Nesipli Mavlit-Alievna Kulaeva. (2019). Models of Russian Economic Growth: Personal Consumption Trends. Prostranstvennaâ Èkonomika, (2), 150. https://doi.org/10.14530/se.2019.2.150-168

Recommended Additional Bibliography

• Экарева И.Л. - The History of Russia in the World Contex - Русайнс - 2016 - 144с. - ISBN: 978-5-4365-1195-5 - Текст электронный // ЭБС BOOKRU - URL: https://book.ru/book/921486