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Institute of Economics and Finance news, 6–8 May

Over the three-day working week the SUM Institute of Economics and Finance has held an Olympiad, organised a round table discussion and published economic studies. We’ve put together a review of the most notable events.

On 6 May the Banking and Entrepreneurship Department organised a banking and risk management Olympiad for 3rd-year students as part of its research work with students. 8 people made it to the final. Yelena Dubinina won first place, scoring 16.5 points. The runners up of the closely fought competition were Yuliya Plotnikova (2nd place), Alina Savelyeva, Andrey Gostev and Anna Mikhaylova (3rd place). We congratulate the winners and wish them continued success in their work!

On the same day 3rd-year Taxes and Taxation students took part in a round table discussion organised by the Accounting, Audit and Taxation Department on ‘Current Issues in the Implementation of State Tax Policy’. Participants of the event discussed current issues in Russian tax policy in the context of the digitalisation of the economy as well as changes in the working conditions of employees of economic services.  

Joint research by Ekaterina Karelina (PhD in Economics, Professor, Chair of Foreign Languages at Moscow State Technological University (STANKIN)) and Yevgeny Smirnov (Doctor of Economics, Chair of World Economy and International Economic Relations at SUM) has been published in the monograph Transformation of the Model and Strategy of Socio-economic Development in China.

The monograph analyses the transformation of the social and economic development strategy in China in the 21st century.‑ Given the ongoing globalisation of the world economy and the corresponding expansion of world economic relations, the need for reliable mechanisms for regional trade and economic cooperation is more pressing than ever in order for the national economy to function more effectively.‑ This will ensure that the appropriate level of external economic security for the country is achieved. This becomes particularly important in an unstable world economy, which is related to constantly recurring crises in the economic development of countries in the modern world.

The article Digital Transformation Management: Scientific Approaches and Economic Policy by associate professors V V Aturina, I S Mog and S M Smagulova of SUM’s Department of World Economy and International Economic Relations has been published in the journal Upravlenets (Manager).  The authors give their opinion on the most important problems and trends in the digital transformation of the economy in the context of revolutionary technological changes. The theoretical and methodological basis of the study includes traditional ideas about technological development and its impact on global reproduction as well as concepts of the digital economy. Areas of high uncertainty were identified based on an analysis of the vectors of digital transformation. A concept also took place of the importance of creating growth conditions for companies which use digital technology intensively to expand.

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