B2966 - BUSINESS AND ECONOMICS IN EURASIA

Learning outcomes

Students are expected to develop a deep knowledge of the transformation of business and economy in the broad Eurasian space, as well as to increase their ability to analyse future trends in the development of national economies in the area.

Course contents

This course aims to familiarise students with the economic trends and business environment in Russia and Eurasia since the break-up of the Soviet Union. The focus is on the development and most important aspects of contemporary state capitalist systems in Russia and the successor states of the USSR. Throughout the course we will investigate the Soviet legacy and how Russia and Eurasian states have adapted to global realities. We will focus on topics at the intersection of state, society and economy, such as reforms, privatisation and living standards in Russia in the 1990s; centralisation and the emergence of oligarchs in Russian state capitalism; the role of oil and gas rents in the Russian economy and energy dynamics in the region as a whole; issues of corruption and informality in Russia and the wider region; and attempts to forge an economic union in the post-Soviet space. An important theme throughout the course will be the experience of western/foreign companies doing business in Russia and the successor states of the USSR. Finally, we will reflect on the future prospects of these economies in light of the Russian invasion of Ukraine, economic sanctions, climate change and possible future developments in global energy markets.

Readings/Bibliography

Åslund, Anders, How Capitalism was Built: The Transformation of Central and Eastern Europe, Russia, and Central Asia (2013) Cambridge University Press

Åslund, Anders, Russia's Crony Capitalism: The Path from Market Economy to Kleptocracy, (2019) Yale University Press

Teaching methods

Lectures in presence with power points and abundant class participation

Assessment methods

Written midterm (short essay) test, short research paper and final exam.

Office hours

See the website of Carolyn Ann Kadas