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ECONOMIC SITUATION OF UKRAINE. To describe the economic situation in Ukraine let's begin with some general facts about its resources, industry and agriculture. Ukraine is rich in mineral resources. It completely satisfies her needs in iron, manganese and titanium ores, as well as in rock salt, cement, mineral paints, heat resistant clays, bromine, graphite, mercury and uranium. Ukraine has a ranking position among industrially developed countries. Black coal industry is concentrated in two basins: Donets and Lviv-Volhynia. Oil and gas industries are located in the Subcarpathian and Left-Rank regions. Ukraine's oldest industries are coal-mining and metallurgy. Metallurgical plants are spread through three regions - Donbas, Dnieper and Azov Coast. Shipbuilding is one of the important Branched. Sea vessels are built at shipyards located in Mikolayiv, Kherson and Kiev. There are many textile Enterprises in Ukraine: cotton (Kherson, Ternopil), linen (Rivne, Zhitomir), wool (Chemihiv, Lugansk), silk (Kiev, Cherkasy). Ukraine is producing modem supersonic airliners, the latest metal- cutting machine tools, computers, chemical equipment.-The chemical industry produces acids, plastics, and synthetic. There are many industrial cities in Ukraine, for example: Kharkiv, an important industrial and cultural centre; Donetsk, a Coal-mining centre; Odessa, a big sea port and a resort city; Lviv, a large industrial, scientific and cultural centre; Zaporizhya, a metallurgical centre of Ukraine; Dnipropetrovsk, a large cosmic, machine-building and metallurgical centre and others. The territory of Ukraine is criss-crossed by railroads and highways, oil, gas pipelines. Ukraine has developed transportation system, well-equipped sea ports. the favorable climate allow progress in agriculture. Ukraine is the most important producer of grain, wheat, sugar beet, flax, sunflower, fruits and vegetables. Close to 40 types of vegetable crops are grown in Ukraine: cabbage, tomato, cucumber, red beet, carrot, onion, garlic, etc. Melon-growing is practiced mainly in the south. Potatoes occupy 6 per cent of total area under cultivation. Cattle raising is the second largest component of agriculture. Good progress was registered in poultry-breeding, pond-fish culture, bee-keeping, fur-farming and rabbit- breeding. Our country is going over to a market economy. Since its independence Ukraine has faced economic problems: the slow process of privatization of state property, inconvertibility of ghrivna, shortage of hard currency, hyperinflation, low competitiveness of our goods in foreign markets and other.
THE SYSTEM OF HIGHER EDUCATION IN UKRAINE Present - day independent Ukraine has got a rather developed system of education. General secondary education is free and compulsory. The secondary school has three stages: primary, basic and senior. Later there appeared a new type of schools: gymnasiums, lyceums and private schools. Post - secondary education is provided by technical schools, colleges and institution of higher learning: universities, academies, institutes, conservatories. Almost all higher schools provide part-time, extra-mural and full time education. There are four higher educational levels of consequently four levels of accreditation of higher schools. Higher school of the first two levels of accrediting have the right to train junior specialists. The institutions of the third and fourth levels of accrediting have the right to train both bachelors and masters of science. The course of studies to get the degree of the Bachelor lasts for four years. To become a specialist or a Master of science the students have to study one-two years more. The education may be free of charge or for fee. Students who study at higher schools according to state order do not pay fee for their studying and get state scholarship. Other students who study according to contract have to pay fee and do not receive scholarship. At present plenty of higher schools are developing the system of distance education. Nowadays Ukraine numbers a total of more than 200 higher educational establishments/ Graduates from the Ukrainian institutions of higher learning may become scholars, famous writers, physicists, chemists, doctors, diplomats, lawyers, economists, mathematicians, philologists, etc.
The EU and Ukraine The European Union is the association of the European states participating in the European integration. Includes 27 countries. The basic proclaimed purposes of the Union are: introduction of the European citizenship; supporting of freedom, safety and legality; assistance to economic and social progress; strengthening a role of Europe in the world. 12 states-members of EU (except for the UK, Denmark and Sweden) have the general bodies and legislation of Community and uniform currency - euro. Nowadays, some countries are negotiating EU membership and Ukraine is among them. European integration has been on Ukraine's agenda since its independence. There has been a period identified as "integration without Europeanization" during the Kuchma regime. Ukraine was one of the first former Soviet Union countries to sign a Partnership and Cooperation Agreement (PCA) with the EU in the 1994 The document also provides a prospect for establishing a free trade area. According to the PCA, the parties should adhere to GATT(General Agreement on Tariffs and Trade) principles in their trade, national treatment principle, freedom on transit, and general prohibition of quantitative restrictions except for textile and some coal and steel products and nuclear materials, on which special agreements were signed. Ukraine and the EU are also actively cooperating in the network industries, such as energy, telecommunications, transport and research. Ukraine is making preparations to join the Union for the Coordination of Transmission of Electricity (UCTE). Relations with Ukraine and deepening of integration in economic and other spheres is clearly very important for the EU. It plays a vital transit role for several goods imported by the EU from the east. Looking from the EU perspective Ukraine is an important partner in the political dialogue. In the next few years it appears unlikely that Ukraine could be offered membership perspective. The debates on Ukraine's European integration will continue. It will be influenced by the domestic politics.
Types of Business Organizations There are three major kinds of business organizations: the sole proprietorship, the partnership and the corporation. The sole proprietorship is a business owned and run by one person. The main advantage of a sole proprietorship is that it is the easiest form of business to start and run. The major disadvantage of a sole proprietorship is the unlimited liability that each proprietor faces. A second disadvantage of sole proprietorship is that it has limited financial resources. A partnership is a business that is jointly owned by two or more people who have combined their talents and resources for the purpose of earning a profit. Partnerships have more advantages than sole proprietorships. Like sole proprietorship they are easy to form and often get tax benefits from the government. Partnerships have certain disadvantages too. The major disadvantage is unlimited financial liability. It means that each partner is responsible for all debts and is legally responsible for the whole business A business corporation is an institution established for the purpose of making profit. It is operated by individuals. The major advantage is the ability to acquire greater financial resources than other forms of ownership. The next advantage is that the corporation attracts a large amount of capital and can invest it in plants, equipment and research. Corporations face some major disadvantages. It is difficult and expensive to organize a corporation.
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The European Union (EU ) people can travel freely throughout most of the continent. And it's also become much easier to live and work abroad in Europe. Human dignity, freedom, democracy, equality, the rule of law and respect for human rights: these are the core values of the EU. The single market is the EU's main economic engine, enabling most goods, services, money and people to move freely. Another key objective is to develop this huge resource to ensure that Europeans can draw the maximum benefit. Staff. The European Commission is divided into departments known as Directorates General (DGs), is headed by a Director-General who reports to a Commissioner. Around 38 000 people are employed by the European Commission. In the European Parliament, around 6 000 people work in the general secretariat and in the political groups. They are joined by Members of Parliament and their staff. In the Council of the European Union, around 3 500 people work in the general secretariat. The European Union (EU) is a family of democratic European countries Locations. The European Commission is mainly based in Brussels and Luxembourg. Agencies have been set up in many EU countries to deal with specific technical, scientific or managerial tasks. The European Parliament holds its Committee meetings in Brussels and its plenary sessions in Brussels and Strasbourg. Administration is located in Luxembourg. The Council buildings are in Brussels, where most of its meetings also take place. Setting the agenda. The European Council sets the EU's overall political direction – but has no powers to pass laws. Led by its President – currently Herman Van Rompuy – and comprising national heads of state or government and the President of the Commission, it meets for a few days at a time at least every 6 months. Law-making. There are 3 main institutions involved in EU legislation: -the European Parliament, which represents the EU’s citizens and is directly elected by them; -the Council of the European Union, which represents the governments of the individual member countries. The Presidency of the Council is shared by the member states on a rotating basis. -the European Commission, which represents the interests of the Union as a whole.
Paul Robin Krugman (born February 28, 1953 (age 59) Albany, New York) is an American economist, Professor of Economics In 2008, Krugman won the Sveriges Riksbank Prize in Economic Sciences. As of 2008, Krugman has written 20 books and has published over 200 scholarly articles in professional journals. He has also written more than 750 columns dealing with current economic and political issues for The New York Times. Krugman considers himself a liberal, calling one of his books and his New York Times blog "The Conscience of a Liberal". Personal life. Krugman is the son of David and Anita Krugman and the grandson of Jewish immigrants from Brest-Litovsk.[20] He was born in Albany, NY/ Krugman's first wife was award-winning designer/artist Robin L. Bergman. He is currently married to Robin Wells, his second wife, an academic economist. Krugman giving a lecture at the German National Library in Frankfurt in 2008. From 1982 to 1983, he spent a year working at the Reagan White House as a staff member of the Council of Economic Advisers. He has been a research associate at the National Bureau of Economic Research since 1979. Most recently, Krugman was President of the Eastern Economic Association. Krugman's main contribution is his analysis of the impact of economies of scale/ In 1978, Krugman wrote The Theory of Interstellar Trade/ New trade theory Prior to Krugman's work, trade theory emphasized trade based on the comparative advantage of countries with very different characteristics, such as a country with a high agricultural productivity trading agricultural products for industrial products from a country with a high industrial productivity. Many models of international trade now follow Krugman's lead. This way of modeling trade has come to be called New Trade Theory. New economic geography It took an interval of eleven years, but ultimately Krugman's work on New Trade Theory (NTT) converged to what is usually called the "new economic geography" (NEG), which Krugman began to develop in a seminal 1991 paper in the Journal of Political Economy. Awards -1992, Fellow of the American Academy of Arts and Sciences (AAAS).[31] -1995, Adam Smith Award of the National Association for Business Economics in Germany. -2004, Doctor of Humane Letters honoris causa, Haverford College[86] -2008, Sveriges Riksbank Prize in Economic Sciences (informally the Nobel Prize in Economics) for Krugman's contributions to New Trade Theory.[87] He became the twelfth John Bates Clark Medal winner to be awarded the Nobel Memorial Prize. -2012, Doctor honoris causa from the Universidade de Lisboa, Universidade Técnica de Lisboa and Universidade Nova de Lisboa[88][89]
EMPLOYMENT AND UNEMPLOYMENT Two measures are used to determine the success people have in finding employment, or work. The first if unemployment rate and the second is the employment rate. The most popular measure of unemployment is the unemployment rate, which is determined by dividing the number of unemployed persons by the total number of persons in the civilian labor force. The employment rate is a measure of the people actually working as opposed to the number willing available to work. Unemployment is the state of being out of work. There are: frictional unemployment, seasonal unemployment. structural unemployment, technological unemployment Frictional unemployment is due in some friction (the imperfections of the labour market, such as the time lost between two jobs, lack of information). Suggested remedies are: more and better information, job- centers, placement agencies. "Seasonal unemployment" is due to the seasonal pattern of work in some industries. Careful planning of work in the building industry and the encouragement of a second season in tourism may help to mitigate the problem. "Structural unemployment" is not due to any lack of jobs, but to a mismatch between the type and/or location of jobs offered and the qualifications and/or location of the job seekers. "Technological unemployment" results from the replacement of workers by labour-saving machines, computers, microprocessors, etc., or to use the appropriate economic jargon, from an increase in the capital-labour ratio |
Globalization refers to the increasing global relationships of culture, people, and economic activity. It is generally used to refer to economic globalization: the global distribution of the production of goods and services. Globalization may contribute to economic growth in developed and developing countries through increased specialization and the principle of comparative advantage. Positive. Liberals generally argue that higher degrees of political and economic freedom in the form of democracy and capitalism in the developed world are ends in themselves and also produce higher levels of material wealth. They see globalization as the beneficial spread of liberty and capitalism. Cosmopolitanism is the ideology that all human ethnic groups belong to a single community based on a shared morality. A cosmopolitan community might be based on an inclusive morality, a shared economic relationship, or a political structure that encompasses different nations. Supporters of democratic globalization believe that the economic development was the first phase of globalization, and should be followed by a phase of building global political institutions. Negative. Some countries have embraced isolationism. For example, the North Korean government makes it very difficult for foreigners to enter the country and strictly monitors their activities when they do. "Anti-globalization" activities include attempts to demonstrate sovereignty, practice democratic decision-making, restrict the international transfer of people, goods and disfavored beliefs, particularly free market deregulation. Critics argue that globalization results in: -Poorer countries suffering disadvantages: While it is true that free trade encourages globalization among countries, some countries try to protect their domestic suppliers. -Weak labor unions: Unions lose their effectiveness and workers their enthusiasm for unions when membership begins to decline. -An increase in exploitation of child labor: Countries with weak protections for children are vulnerable to infestation by rogue companies and criminal gangs who exploit them.
Types of economic systems Market economy A Market Economy is an economy in which decisions regarding investment, production and distribution are based on supply and demand[1] and the prices of goods and services are determined in a free price system. Capitalism. In general, investments, distribution, income, and pricing is determined by markets. Laissez-faire. It is generally understood that the necessary components for the functioning of an idealized free market include the complete absence of government regulation. Social market economy/ The social market economic model is based upon the idea of realizing the benefits of a free market economy, especially economic performance and high supply of goods. Market socialism/Market socialism refers to various economic systems where the means of production or dominant economic institutions are either publicly-owned or cooperatively-owned but operated according to the rules of supply and demand. Cooperative socialism/ a form of market socialism in which enterprises are owned and managed cooperatively by the workers. Socialist market economy/ in which most of the economy is under state ownership. Mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies. The basic plan of the mixed economy is that the means of production are mainly under private ownership; that markets remain the dominant form of economic coordination. A planned economy is an economic system in which decisions regarding production and investment are embodied in a plan formulated by a central authority, usually by a government agency. The most extensive form of a planned economy are command economy, centrally planned economy, or command and control economy.] A planned economy may consist of state-owned enterprises, cooperative enterprises, private enterprises directed by the state, or a combination of different enterprise types. Advantages of economic planning The government can harness land, labor, and capital to serve the economic objectives of the state. The state can begin building a heavy industry. Disadvantages of economic planning Inefficient resource distribution: surplus and shortage. Suppression of economic democracy and self-management
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Management styles Management styles are characteristic ways of making decisions and relating to subordinates. Autocratic. An Autocratic style means that the manager makes decisions unilaterally, and without much regard for subordinates. As a result, decisions will reflect the opinions and personality of the manager; this in turn can project an image of a confident, well managed business. Consultative. decisions take into account the best interests of the employees as well as the business. Democratic. In a Democratic style, the manager allows the employees to take part in decision-making: therefore everything is agreed upon by the majority. Laissez-faire. In a Laissez-faire leadership style, the leader's role is as a mentor and stimulator, and staff manage their own areas of the business. This style brings out the best in highly professional and creative groups of employees; however in cases where the leader does not have broad expertise and ability to communicate a strong vision, it can degenerate into disparate and conflicting activities.
Odessa State Economic University I am very happy and proud that I am a student of the Odessa State Economic University. Odessa State Economic University is one of the largest higher schools in Ukraine. This prominent centre of economics was founded in June 1921. Nowadays more than six thousand students study at our University. They study either full time, by correspondence or in the evening department. There are five day - time departments, such as: the Department of Management and Economics of Production, the Department of International Economics, the Finance Economic Department, the Credit Economic Department, the Accounting Economic Department. To enter the University one has to pass two written examinations in Ukrainian and Mathematics. At present course of studies lasts for five years. At the end of their studies the students submit a graduation paper and take the state examinations. The University maintains stable scientific relations with many higher schools of Bulgaria, Germany, France, Cuba, New Zealand, Great Britain and others. Students' and teachers' exchange often takes place nowadays. They cooperate in publishing scientific works and take part in conferences. The students of the University have proper education facilities; they can spend their free time with interest. The University has at its disposal 6 buildings with house libraries and reading - rooms. They, as well as twenty lecture-rooms and laboratories are provided with latest scientific and methodological literature. Now the OSEU has its Internet Club and its own Web Site. There are 4 hostels, 2 canteens, a club, and sports-camp in Karolino-Bugas, sports-halls and sports-grounds near the hostels. Our university trains specialists not only for our country. Since 1971 it trains specialists for more then 50 countries of Asia, Africa and Latin America. They work at home as engineers, department chiefs, managers, bankers. Some of them stay in Odessa for postgraduate study. Many well-known scientists and economists can be found among the graduates of Odessa Stale Economic University. A great number of our graduates work at various offices, firms, plants, saving-banks, joint ventures, joint stock companies, insurance companies, etc. For me as a fresher everything is interesting and new. I understand that it won't be easy for me to study at the University. But I'll try to overcome all the difficulties and to study well because I want to be a good and highly qualified specialist in economics. We study at the University five times a week. Our lessons begin at 8 a.m. and end at 1 p.m. I try not to miss classes on any subject, to attend all the lectures and answer the questions at the seminars. At the lectures I always make notes because it helps me to understand better, to leam and to prepare the material for the seminarsSo I understand that I have to work hard and I'll try to do my best to be a good specialist and economist.
ODESSA REGION Odessa region is located in the far Southwest of Ukraine and borders on Vinnitsa, Kirovograd, and Nikolaev regions, as well as on the countries of Moldova and Romania. The region occupies the territory on the Northwest Black Sea coast, from the river Danube delta to the Tiligoulskiy estuary (300 kilometres of coastline), and 200-250 kilometres from the Black Sea to the north. Odessa region is largest in Ukraine: its total area is 33,300 square kilometres (an approximate size of Belgium or the Netherlands) which is about 5.5% of Ukraine's territory. The capital city of the region is Odessa, situated on terraced hills overlooking Odessa Bay, an inlet of the Black Sea that forms a natural harbour. The city is among the largest ones in Ukraine; it serves as the southern gateway of the state. It is an important agricultural, transportation, industrial, scientific, cultural, and resort centre, with a population of about 2,300,000. The coastline position of the region on the international border is economically important. The wide outlet into the basin of the Azov and the Black Seas and into large rivers (the Danube, the Don, the Dnieper, and the Dniester) defines the advantages and transportation means. The effective sea and river waterways allow the economic relations to extend to Eastern and Central Europe (via the river Danube). Odessa sea port and other ports of the region are situated at the junction of intensive international sea and river transport connections; this defines a great distribution potential of the ports. Natural Resources Distinctive features of the regional natural resources are the favorable climate, the sea, curative mud and salted water of the estuaries, sand beaches, and mineral water springs. Along with historical and cultural monuments, these resources form a great and diversified recreational and spa resort potential. Minerals discovered in the region and attracting practical interest today are used as raw materials for construction. Mining of sea sands, sandstone-shell mixture for industrial use, construction and agriculture is carried out on the Black Sea shelf. Odessa region employs intensive steppe agriculture and developed irrigation network. The natural conditions are favourable for cultivation of winter wheat, corn, barley, soy, millet, and sunflowers. A diversified manufacturing centre, Odessa produces a wide range of machinery and equipment, as well as chemicals. Shipyards and an oil refinery are important to the economy. Food processing in flour mills, stockyards, canneries, and sugar refineries is developed due to the proximity to rich Ukrainian farmlands.
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Money Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. History. The use of barter-like methods may date back to at least 100,000 years ago. The system of commodity money eventually evolved into a system of representative money. Paper money or banknotes were first used in China during the Song Dynasty. Banknotes were first issued in Europe by Stockholms Banco in 1661. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set. By the beginning of the 20th century almost all countries had adopted the gold standard. After World War II, at the Bretton Woods Conference, most countries adopted fiat currencies that were fixed to the US dollar. The US dollar was in turn fixed to gold. Functions. Medium of exchange. When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange. Unit of account. A unit of account is a standard numerical unit of measurement of the market value of goods, services, and other transactions. Store of value.To act as a store of value, a money must be able to be reliably saved, stored, and retrieved – and be predictably usable as a medium of exchange when it is retrieved. Types of money Commodity money. Commodity money value comes from the commodity out of which it is made. The commodity itself constitutes the money, and the money is the commodity. Representative money. money that consists of token coins, or other physical tokens such as certificates, that can be reliably exchanged for a fixed quantity of a commodity such as gold or silver. Fiat money. Fiat money or fiat currency is money whose value is not derived from any intrinsic value or guarantee that it can be converted into a valuable commodity. Currency/ Currency refers to physical objects generally accepted as a medium of exchange. These are usually the coins and banknotes of a particular government. Commercial bank money/ Commercial bank money or demand deposits are claims against financial institutions that can be used for the purchase of goods and services. Commercial bank money is created through fractional-reserve banking/
What is Economics about? Economics is exciting and important. The great issues that confront us today - among them international conflict, unemployment, inflation, poverty, discrimination, and environmental pollution have economic roots, liven the small. In order to analyze these problems, big or small, we must understand the economic forces that shape them. Economies is a social science concerned chiefly with the way society employs its limited resources, which have alternative uses, to produce goods and services for present, and future consumption. first, why is economics a social science? Because it deals with the interactions of people. Second, what are resources, and what does it mean to say that they are limited? Resources comprise anything that can be used to produce goods and services. This includes human resources - labor and the skills workers possess; and material resources, such as machinery, buildings, and land. Resources are limited in the sense that, taken together, people want more goods and services than can be produced . Unlike history, mathematics, English and chemistry, economics is a subject that most students encounter only briefly sometimes not at all, before they begin college. Economics has some similarities to mathematics because logical reasoning and mathematical tools are used in it extensively. It also has some similarities to history because economics studies people as they interact in social groups. Like English grammar, economics has a few simple rules and principles, but from these principles economics can derive many conclusions. Economics is the science of making choices. In fact, economics is the study of the choice that people make and the actions that they take in order to make the best use of scarce resources in meeting their wants. Economics is about the everyday life.
Management Management is the running of the organization, winch in economic theory is sometimes regarded as a factor of production with land, labour, and capital. Management has two main components: an organizational skill, including the ability to delegate, and an entrepreneurial sense. The organizational skill, involving the principles arid techniques of management, is taught at colleges and business schools; the entrepreneurial sense, - recognising and making use of opportunities, predicting market needs and trends, and achieving one’s goals by sustained, drive, skilful negotiation and articulate advocacy, are not so easily taught, although contact with the market place in association with a successful entrepreneur will encourage an inherent ability to develop. Top management includes the chief executive of an organization, his deputy or deputies, the board of directors, and the managers in charge of the divisions or departments of the organization. Middle management consists largely of the managers to whom top management delegates the day-to-day running of the organization. Management is usually broken down into the categories formalised in line and staff management: the line managers organize the production of the goods or oversee the services provided‘by the organization, while the staff management provides such support as personnel management, transport management, service management, etc. Planning, organizing, leading, controlling.
CAREER OF AN ECONOMIST One of the fastest-growing areas for careers is in the field of business and economy. The 21 th century business world is changing dramatically. Competition is becoming increasingly global, new markets are opening all over the world. To function in such business world it is necessary to understand the principles of business. The new era of business performance requires new business people who know how to start, operate and sustain business and economy as a whole. To my mind economics and economy are the best places to use our capacities, desire to work and to realize our abilities and intellect. Therefore, nowadays, an economist is one of the most interesting, exiting and important careers. Economists are concerned with the production, distribution and consumption of goods and services and are interested in helping society to get as much satisfaction's possible from its limited resources. They study the ways, which individuals and society choose to use limited resources such as natural resources, labour, factories and machines in an effort to satisfy unlimited wants of individuals and the society. An economist has to play a vital role in modern life of any society. Economist collects, processes and analyzes data to determine the costs and benefits in using limited resources in various ways. The area of interests for the economist is also related to the economy’s growth. Economists are employed in a number of different job settings. Many of them are employed by various government establishments including a wide range of different agencies, scientific research institutes. They collect and analyze information about economic conditions in the nation and about changes in government policies. There are also economists who teach and do research at colleges and universities. Economists must have thought understanding of fundamental economic subjects such as economic theory, enterprise economy, analysis of enterprise’s activity, financial analysis, fundamentals of management, marketing, accounting, mathematical methods of economic analysis, basic statistic procedures and a lot more. At the same time training in computer science and foreign languages are becoming increasingly important in the career of an economist. I’m a second year student now and I must say that I had made the right choice. I’m glad and proud that I’m a student of Odessa National Economic University and in the near future I’ll become an economist. I’ll try to do my best to be a good specialist and a good economist.
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