Description of the Course «World Economy and the Development of
Financial Markets»
The half-year course «World Economy and the Development of Financial Markets» is
implemented at the Faculty of Economics and Finance of the North-West Institute of Management of
the Russian Federation Presidential Academy of National Economy and Public Administration. The
faculty conducts the education of bachelors and masters in Economics and Finance to ensure the needs
of various businesses and international organizations which are represented in the Russian Federation
and abroad.
The module «World Economy and the Development of Financial Markets» enables students to
study the basics of the international financial market. In addition to general theoretical issues, the
module considers the basic principles of the functioning of the world economy. Students discover the
ways of conducting international trade activities, practical issues of currency transactions. The issues
related to the functioning of the stock market are given in details and the problems of risk management
are highlighted. Students master the materials on the formation and development of the banking
system of the country, the important attention is paid at practical aspects of the functioning of the
financial system. In the process of learning, students solve cases and carry out practical tasks.
The module has an applied character and consists of 8 disciplines, of which 5 are compulsory, 3
disciplines are optional. The student needs to get 30 credits to pass this module.
Courses
Credits.
Compulsory Disciplines
Principles of Economics
4 credits
World Economy
4 credits
International Economic Relations
4 credits
International Financial Markets
4 credits
International Trade Policy
4 credits
Optional Disciplines
Economic Aspects of the Intellectual Property Protection
3 credits
Credit Risk Management
3 credits
Principles Of Banking
3 credits
Execution factor markets Securities And Portfolios
3 credits
Russian as Foreign language
4 credits
1. Basic Principles of Economics.
The real and financial sector of the economy: the principles of work and the main
macroeconomic indicators. Financial markets: the main segments and principles of operation.
Fundamentals of the economy of the firm: the concept of a firm, the main indicators of the effectiveness
of the firm. Factor markets: the labor, capital and land market. The mechanism of finding equilibrium in
markets. Competition in the market: types of market structures (oligopoly, monopoly, duopoly, perfect
competition). The world market and international trade: the world economy and patterns of its
development, International trade, payment and trade balance of the state.
2. World Economy.
History of Trade. Tendencies of economic development. Globalization. Macroeconomic
indicators. System of national accounts. Countries classifications by UNDP, IBRD, IMF, WTO. Global
Competitiveness Index. Countries’ ratings. The role of multinational corporations in the world economy.
The WTO, ECOSOC, OECD, UNCTAD and other international economic organizations activity.
Demographic, labor and natural resources of world economy. International management of natural
resources. Branch structure of the world economy. Agriculture: export and import, support measures,
methods of the policy analysis. Industry: economic geography, industrial policy and support measures.
Marine transport: state, types and owners of the fleet, shipping costs.
3. International Economic Relations.
Modern world economic order. International trade. Structure of world export. Methods of trade
research. Trade in commodities industrial production. Price information sources. Regional economic
integration. History, methods of studying, interconnection with the WTO. Integration at the Asian
continent. Characteristic and problems of a modern financial system. Concept of currency system.
Exchange arrangement and exchange restrictions. International loans. Direct foreign investments:
streams, motives, policy, theory, methods of regulation, guarantee to investors. International economic
aid. International migration. Conventions. Statistics. Consequences for the host and home countries.
National labor migration policy. Policy of regional blocs.
4. International Financial Markets.
The current problems of the world currency systems. Dollar/ Yang problem in the world
economy. The exchange rate regimes (free floating, dirty floating, pegging). International monetary
policy. International stock markets and problems of its regulations. Current modern models of
regulation (as an example regulation in the USA, Germany, Great Britain and others). Financial assets
evaluation: basic methods and approaches. Discounting. Major financial models: CAPM model, WACC
model. Main portfolio theories. Sharp and Trainers indicators. Methods of calculation and economic
interpretation. World financial problems. The source of instability in the world currency system.
5. International Trade policy.
System of trade measures. Tariff measures. Non-tariff measures. Measures in force in EEU and
EU. Disputes in the WTO: Russia as respondent, China as respondent. The interests of the countries in
the WTO. Comparative characteristic of China and Russia obligations to the WTO. Technique of antidumping investigations.
6. Economic Aspects of the Intellectual Property Protection.
Measures on protection of intellectual property rights. Standards concerning the availability,
scope and use of intellectual property rights. Countries` obligations on the protection of their
intellectual property rights in WTO. Monitoring the implementation of the agreement. Methods of
protection of intellectual property rights (on the example of Russia and China). Responsibility for
violation of intellectual property rights. The principle of exhaustion of the exclusive right to a trademark
in Russia and China. The problem of gray imports in Russia. Comparative analysis of the application of
copyright and trademark rights in Russia and China.
7. Credit Risk Management.
Definition of the Risk. Classification of risk. Credit risk strategy and credit risk management
procedures. Credit granting criteria and credit granting process. Measurement of credit risk and the
management information system. Mitigation of credit risk. Policies to reduce risk. Credit risk
management. Interest rate risk management. Credit risk strategy and credit risk management
procedures. Credit analysis. Credit management. Customer monitoring. Internal risk rating system.
Stress tests. Peculiarities of the Risk Management in Russian the commercial banks.
8. Principles of Banking.
Classification of banks. Assets and Liabilities of the commercial bank. Credit operations of the
commercial bank. Types of Deposit Accounts. Common-Deposit Account Products. Role of financial
intermediation. Main functions of the commercial bank in market economy. Regulation of banks.
Investment activities of banks. Basic operations of banks. Russian banking system. Banking system
worldwide.
9. Execution factor markets Securities and Portfolios.
Risk and return of a single financial asset. Risk and return of a portfolio: portfolio analysis.
Benefits of diversification. Mean-standard deviation portfolio theory. Asset pricing models.
10. Russian as Foreign language.
Contemporary methods of teaching Russian as a foreign language. Contemporary educational
technologies for teaching Russian as a foreign language at Beginners level. Phonetics and intonation in
teaching Russian as a foreign language. Forming grammar competence when teaching Russian as a
foreign language based on communication and activities approach. The lexical aspect in teaching
Russian as a foreign language. Game tasks in a lesson of Russian as a foreign language. Text and
opportunities for using it in a practical course of Russian as a foreign language. Literary text as a
resource for teaching oral communication in a practical course of Russian as a foreign language.
Teaching writing and written language. Interactive teaching technologies for Russian oral
communication in the lessons of Russian as a foreign language Interactive teaching technologies for
Russian oral communication: using videos in the lessons of Russian as a foreign language. Interactive
teaching technologies for Russian oral communication in lessons of Russian as a foreign language: using
multimedia presentation in lessons of Russian as a foreign language. Multimedia technologies in
teaching Russian as a foreign language. Contemporary methods to assess the quality of students'
training
ADRESS OF THE FACULTY OF ECONOMICS AND FINANCE.
RUSSIA. SAINT-PETERSBURG. DNEPROPETROVSKAYA STREET 8.
e-mail: tereladze-di@sziu.ranepa.ru
(812) 335-94-63