SPECIALTIES OF THE DEPARTMENT OF BUSINESS ECONOMICS AND INTERNATIONAL ECONOMIC RELATIONS
SPECIALTY 051 ECONOMICS
“Economics is the art of satisfying unlimited needs with limited resources” (Peter Lawrence)
“Knowledge of economics is an investment in the future, because everything we will need tomorrow is written by economics today”
Economics in all its manifestations has firmly entered the life of mankind: at a minimum, without knowledge of the basics of economics, it is impossible to correctly distribute the family budget, at a maximum, the well-being of entire states depends on the professionalism of economists. Therefore, the profession of economist has been very popular among applicants for more than one decade. Economists are in demand wherever it is necessary to plan and calculate finances, where it is necessary to control the expenditure of funds, analyze the results of the enterprise’s work. The value of the economist’s profession is simply invaluable, since he is obliged to predict in advance the value of certain indicators, see the dynamics of the development of the enterprise, region, state, and warn the manager against wrong actions. It is the economist’s profession that allows you to understand from the inside what mechanisms work in the economic life of society, how they can be managed in order to achieve maximum results.
The main tasks of an economist:
planning of material, labor and financial costs, rational use of all types of resources
determining internal and external factors influencing the economic results of production and sales of products, profitability, financial condition and solvency of the enterprise
increasing the efficiency of the enterprise, taking into account the analysis of its financial and economic activities, developing measures to ensure the economy mode
justifying which of the selected areas of activity is profitable, which project should be suspended or closed altogether
An economist is able to provide a complete economic analysis of the work of an enterprise or an entire industry and determine a further development strategy.
Such professionals are highly valued in the labor market. Career opportunities for an economist
are practically limitless, as is the level of salary. Specialists in the economic sphere are always among the leaders in demand on the labor market: they are needed by a wide variety of enterprises in any field of business, state authorities, state and financial institutions.
Economists are professionals who are perfectly versed in complex legal acts, resolutions, orders and instructions. They easily understand accounting, auditing, taxation, analysis of economic activity. Many graduates have created their own business – they carry out successful entrepreneurial activities in various areas of business (production, trade, restaurant business, provision of services).
The main advantage of the specialty 051 “Economics” is its relevance, since economists have always been and will be in demand.
In addition, the graduate has the following advantages, such as:
➤ versatility – you can find a job in any field of business;
➤ high demand in the labor market;
➤ high level of wages;
➤ the opportunity to successfully start your own business with minimal costs, as economic knowledge will allow you to calculate all risks and prospects in advance;
➤ the opportunity to work effectively in your specialty in any country in the world.
SPECIALTY 292 INTERNATIONAL ECONOMIC RELATIONS
International economic relations have their roots in ancient times. The beginning of their development is considered to be the first elementary forms of “international” trade, which embodied the natural exchange between individuals, families, tribes, etc. The first objects of “international” exchange were surpluses of individual goods and means of production.
International trade first manifested itself as trade between countries during the period of the slave system. Then the main objects of exchange were luxury items, some types of raw materials, and slaves.
During the period of capitalism, international trade gained special development. The transition from natural production to commodity-money relations, the emergence of large-scale machine production, improved transportation conditions, and the development of market relations stimulated the spread of foreign trade. During this period, almost all countries of the world were involved in trade. The world market is being formed, and at the end of the 19th century, with the transition to monopoly capitalism, a world economic system was formed. It was during this period that international relations ceased to be limited only to trade. Factors of production also became their object.
The beginning of the internationalization of economic relations, together with international capital, contributed to the emergence of monopolistic associations.
Monopolistic capital of economically developed countries began to penetrate the territory of less developed ones, and, gaining ground, secured not only economic, but also political and administrative domination over the “absorbed” state capital. This process led to the completion of the formation of the territorial division of the world between developed countries and the distribution of colonies. A specific colonial division of labor began, in which the metropolitan countries imposed a specialization that was profitable for themselves on the colonial countries, which completely subordinated the economy of dependent countries to the export of a certain type of raw material.
After the end of World War I, the process of decolonization began, which ended in the 1960s, and as a result of which the world economy took on a modern form. The features of this economy are the interpenetration of economic systems, the transformation of national production into international production, its acquisition of international and transnational features; the intensification of joint entrepreneurial activity with the large-scale involvement of foreign capital, the formation of international economic complexes, the emergence of international property.
At the end of the 19th century, the international economy was interpreted as the total interaction of all national economies and international economic relations. In a broad sense, international economics is a theory used to study the economy of the modern interdependent world.
In a narrow sense, international economics is a part of the market economy that studies the patterns of interaction between subjects of foreign economic activity and international economic relations in the international exchange of goods and services, the movement of factors of production, and the creation of international economic policies of countries.
International economics, as the youngest component of modern economic theory, was initially studied only in the prism of macroeconomics and microeconomics, and only at the end of the 19th and beginning of the 20th centuries was it formed as a separate science.
The main purpose of an international economist is to work in the bodies and institutions of the Ministry of Foreign Affairs in executive positions in diplomatic missions (assistant vice-consul and attaché, referent, diplomatic agent, diplomatic courier, secretary of a diplomatic agency).
In addition, a specialist in international economic relations will have the opportunity to hold positions of mid-level executive employees in state structures and institutions (state administrations, international departments of relevant ministries, etc.) and in private structures that carry out activities in the field of international economic relations (foreign economic departments of firms, expert groups, etc.) and in international advisory organizations of an economic profile, companies, transnational corporations, commercial banks.
Graduates of this specialty will be in demand as specialists for work in:
➤state agencies, regional bodies of state power and administration – as junior and support staff of international departments, departments and foreign missions (experts, consultants);
➤international organizations – as experts, consultants;
➤in Ukrainian and foreign business structures, non-profit and public organizations that maintain international relations or deal with international issues – as junior and support staff (experts, information collection officers, executive secretaries of projects);
➤in higher education institutions with international issues, academic and research organizations of an international profile – as researchers and teaching staff;
➤in transnational corporations, banks, insurance companies, investment funds, international organizations, state and local government bodies at enterprises of all forms of ownership; in research institutes