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Lecture 1 eng.doc
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2. Sense, structure and principles of international economic relations

An important element of the international economic system is international economic relations. This necessitates a systematic analysis of international economic relations: their forms, levels, subjects and principles of operation.

The structure of modern international economic relations includes the following forms:

• International trade - the exchange of goods and services between national economies;

• International movement of capital - capital flows between countries in search of more lucrative field of application;

• International labour migration - the movement of the working population between countries, mainly due to economic reasons;

• World monetary system - fixed by international agreements form of economic relations, which mediates and facilitates the realization of all other forms of IER, providing a system of international payments.

International economic relations are developing at different levels: on the one hand, depending on the extent, scale and frequency of interaction between business entities (economic ties, economic cooperation, economic cooperation, economic integration), and on the other - depending on the scope of activities:

• micro - level subjects;

• meso - level branches;

• macro - at the country level;

• goal - at the regional groupings.

The core of modern IER serves international economic activity of businesses, especially companies, aims to profit mainly due to external factors. In every country there are companies whose activities are limited to the national market, although the proportion of such firms tends to decrease. Quite a representative group is formed of companies with a focus on national and international markets. And finally, there are companies that "work" exclusively on external market.

Business enterprises in the international market is in the following forms:

1. Exports and imports of goods and services.

2. Contract, cooperative agreement.

3. Economic activity abroad.

4. Portfolio and direct investment abroad.

General Principles of IER:

1) progressive development according to objective economic laws;

2) systematic, i.e. the development of IER as a system of interrelated elements and links when changes in one element leading to mandatory changes in other element and the entire system;

3) equivalence of exchange is mutually beneficial international economic relations for all participants.

The principles formed by UN, have universal character. In addition, at the national level, bilateral and multilateral basis, in the framework of international integration groups the principles of specific nature are produced and agreed, which function only within certain arrangements.

3. Subjects and environment of international economic relations

Describing the status of participants in international economic relations, it should be noted that they act as relatively independent entities to achieve its economic interests. Among them are:

• individuals (endowed with legal capacity, individual entrepreneurs and merchants);

• legal entities (companies, enterprises, TNC);

• State;

• international organizations.

The most significant and increasing role in international economic relations is played by transnational and multinational companies (TNC and MNC).

Their work is characterized by large scale and complex character. It includes international production and investment, financial, credit, marketing and trading activities and other world economic relations, which should illustrate specific data.

Analysis of international business and its performance will not be complete unless the environment that affects it is considered. Since each of the economic relations is an "open system", its activity is dependent on the outside world. Factors affecting the activity of subjects are of two kinds: direct effects and indirect effects.

The first group includes those factors which directly influence the actions of IER subjects. They are: economic behaviour of suppliers, customers, competitors, the laws and institutions of government regulation.

Regarding indirect factors, they have no direct impact on the actions of economic relations. These factors include: the state of the economy, international political events, social and cultural factors.

Combination of the above factors creates an environment of international economic relations, i.e. a kind of aura that accompanies and mediates international business associated with movement of resources, goods, services, information, capital and labour across national borders.

If an entity starts its industrial, commercial or investment activities, it must take into account the environment and its impact on the strategy of firm behaviour in the global market.

Scientific classification environment is as follows:

1. Political and legal environment:

• political processes and institutions;

• legislation.

2. Economic environment:

• character of economic system;

• structure of the economy;

• efficiency and orientation.

3. Socio-cultural environment:

• motivation to work;

• education and training;

• communication;

• ecology.

4. Infrastructure environment and resources:

• natural resources;

• population;

• transport;

• information and communication systems.

The effectiveness of the international economic system largely depends on:

- Firstly, the degree of development of all elements of the system;

- Secondly, the pace and the dynamics of international integration processes;

-Thirdly, the speed of propagation and consolidation of post-model development worldwide;

- Fourth, unify development environment IER;

- Fifth, accelerating the formation of global regulatory mechanisms.

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