International Economic Relations and External Economic Activities

Profession

In the era of globalisation, international economic relations are becoming all-encompassing.
Graduates of the Bachelor’s programme “International Economic Relations and External Economic Activity” have knowledge and skills essential to conduct professional activities in international trade of goods and services, international finance, international currency and credit relations, international trade of intellectual property, international settlements and investment activities.
The programme is designed for those who wish to apply their knowledge of economics internationally.
International economist is a rather general term that encompasses several professions. In some organisations a graduate may be engaged in customs clearance, in others in looking for partners abroad and concluding contracts with them or analysing markets, consulting, minimising financial risks from foreign trade contracts, international purchase of goods and services, international payments, international business schemes, optimising taxes for international companies, attracting international finance, stock market trading, formation and development of international business, etc.
The profession of international economist has always been and remains both reputable and highly paid.

Educational Process

The educational programme is implemented at the Department of International Economic Relations of the Faculty of Economics and consists of a basic and elective courses, so that each student can participate in the development of an individual learning plan.
The 1st and 2nd years of studies are similar for all specialties in the direction of “Economics”. An international economist studies a full set of basic disciplines: “Economic Theory”, “Taxation”, “Accounting”, “Finance and Credit”, “Enterprise Economics”, “Management”, “Marketing”, etc.
During the 3rd and 4th years of studies an international economist studies a wide range of specialized disciplines: The course “World Economy” helps to gain intellectual understanding about the current stage of development of the world economy and its subjects — states, integration associations, international organizations and transnational corporations, the course is taught by the head of the Department of International Economic Relations, Doctor of Economics, Professor I.V. Andronova, who held the position of Financial Director of the MMG Group from 2004 to 2014 and now is currently engaged in consulting; “International Economic Relations” form the knowledge and skills to analyse all existing forms of international economic relations, the course is taught by N.V. Dyuzheva, PhD, Associate Professor, who is engaged in foreign economic activity consulting; “Economics and Organization of Foreign Economic Activity” covers the study of theoretical and legal foundations and applied aspects of the organization and management of foreign economic activity at the enterprise, the course is taught by Doctor of Economics, Professor, author of specialized coursebooks N.A. Volgina. These courses constitute the basic curriculum of the students of “International economy” programme. Further development of the specialty is based on an in-depth study of the subjects of the world economy, the forms and features of international economic relations and the specifics of foreign economic activity.
In-depth study of international trade is conducted within the framework of the following courses: “International Trade in High-Tech Products and Technology Transfer”; “Fundamentals of International Logistics”; “International Settlements and Currency Transactions”; “International Integration Processes”; “Fundamentals of Trade Policy”; “Fundamentals of International Trade” (in English); “Trade Finance and Export Support”; “Global Energy Market”.
In-depth study of international capital flows is conducted within the framework of the following courses: “International Financial Markets”; “World Financial Centers”; “International Investment Strategies”; “International Payment Instruments”; “Islamic Finance”; “International Financial Reporting Standards”; “Free Economic Zones and Offshore”; “World Financial Architecture”; “Monetary and Financial Integration of the EU”.
The study of the most important form of international economic relations — international migration — is realized in the framework of such courses, as “The Global Labor Market and International Migration”; “Passport and Visa Diplomacy”.
In-depth study of the features and specifics of foreign economic activity is implemented through the following courses: “Theory and Practice of International Business”; “International Settlements and Currency Transactions”; “Project Approach to the Implementation of Foreign Economic Activity of International Companies”; “Foreign Trade Insurance”; “Electronic Commerce in international Business”; “Business Protocol and Etiquette in international Business”; “Legal Regulation of Foreign Trade”; “Foreign Trade of the Regions of the Russian Federation”; “Fragmentation of Production and Cross-border Value Chains”; “International Statistical Databases”.
In order to understand the processes taking place in the world economy and identify Russian economic interests and mechanisms for their promotion in the international arena, the following courses are included in the educational process: “Russia in the Global Economy”; “China in the World Economy”; “USA in the World Economy”; “Geoinformation Technologies in International Economic Relations”; “Militarization of the World Economy”; “Geopolitical and Economic Interests of the Russian Federation in the World”; “Gas Wars in the XXI Century”.
All courses are taught by Doctors and Candidates of Economic Sciences with practical experience. For example, “The World Labor Market and International Migration” is conducted by Doctor of Economics, Professor, Corresponding member of the Russian Academy of Sciences, Director of the Institute of Sociology of the Russian Academy of Sciences S.V. Ryazantsev; “Islamic Finance” and “International Financial Markets” are taught by Candidate of Economic Sciences, Associate Professor Irina Ahmed Zein Aidrus, who has extensive experience in introduction of Russian companies to the markets of the Middle East.

Practice

During their studies, students undertake three types of internships: educational internship, industrial and pre-graduation internship.
The internship is conducted at the following organisations and enterprises:
— Institute of Social and Political Studies of the Federal Research Sociological Centre of the Russian Academy of Sciences;
— Russian Union of Industrialists and Entrepreneurs (RSPP);
— State Atomic Energy Corporation Rosatom;
— Agency for Human Capital Development in the Far East and the Arctic;
— Moscow Domodedovo Airport;
— Ministry of Economic Development of the Russian Federation;
— Russian Export Centre;
— Technopolis Moscow special economic zone;
— Russian International Affairs Council and other commercial and non-commercial organisations.
Students of the programme are actively involved in scientific work and have every opportunity to form a serious scientific portfolio through participation in Russian and foreign student conferences, business games, master classes, round tables, Olympiads and publication of scientific articles.
Every year, the educational process includes master classes delivered by representatives of leading Russian and foreign companies on topical issues of global economics and politics, where students have the opportunity to discuss not only the practical aspects of international business and foreign economic activity, but also issues of further employment and career development as an international economist. Regular meetings are held with distinguished alumni and major specialists working for organisations such as Lukoil, Sibur, Eurasian Economic Commission, Russian Helicopters, Yandex, VTB and other representatives of the international business community.
The programme also organises economic schools and scientific trips for students to universities in China, Colombia, South Africa, Peru, Brazil, Bahrain, Serbia and other countries.
Every year students take part in international olympiads in global economics and international business, participate in international scientific conferences, including the youth section of the international conference “Current Problems of the Global Economy”, held for over 23 years by the IER department.

Career

Most graduates of the “International Economic Relations” and “External Economic Activity” specialties continue their Master’s studies in “International Trade” and “International Logistics” programmes, thus improving their qualifications. However, due to the peculiarities of Master’s degree programs all graduates have to combine study and work. Graduates of the bachelor’s and master’s programmes assist with job search, CV writing and interview preparation.
Graduates of the profile are successful professionals in their field:
— Roman Karlash (Russian Federation) — graduated with bachelor’s and master’s degrees (2015) in the IER department, started with entry-level positions at Yandex, and is currently working as director of smart devices sales at Yandex;
— Daniil Baturin (Russian Federation) – graduated with the bachelor’s degree (2021) working at VTB Bank with countries in Africa;
— Fofana Musa (Mali) is an employee of the Central Bank of Mali;
— Diaz Ramos Juan Esteban (Venezuela) is an undergraduate student (2021) who owns his own foreign trade business in the Venezuelan oil and gas sector;
— Fadul Annour (Chad) — Bachelor’s graduate (2019) who successfully runs a commission business and is a trade intermediary between African and Russian companies. He maintains contacts with chambers of commerce in more than 20 countries and seeks trade partners for firms wishing to export their products to Russian and foreign markets.