World economy and International economic relationships Akelyev Evgeny DhD, Associate professor Department of Economics, TPU

List of topics Main actors of international economic relations and their interconnections; Specific features of International economics; Global economic, political, social and ecological problems; International migration of labor force and capital International financial system

1.1. Main “actors” of international economic relations and their interconnections International economic institutions. Transnational companies International integration unions

World economic institutions criticism 1. Free trade leads to a divergence instead of convergence of income levels within rich and pour countries; 2. Commercial issues takes priority over development; 3. Financial aid is always bound to conditionalities and they retard social stability; 4. They are run by a small number of economically powerfull countries;

International financial institutions 1. World Bank 2. European Investment Bank 3. Asia Development Bank 4. European Bank of reconstruction and Development 5. Inter-American Development Bank Group 6. African Development Bank 7. Islamic Development Bank

Specific features of International economics. Globalization. International economic integration. Global trade relations regulation. The rise of developing countries (BRIC). Transnational migration. Huge role of international (Transnational) companies in world economy.

Economic problems 1. Global imbalances in development, financial and economic crisis (capitalism crisis???); 2. Global poverty 3. Energy security 4. Food crisis

Questions for discussion International financial institutions: objectives and results; Climate change: myths and reality; Alternative energy: water, solar, wind e.t. – volumes of possible energy supply; Capitalism crisis; Problem of global poverty; World food crisis; Globalization: positive and negative sites;

References www.globalissues.org http://data.worldbank.org/indicator