FACULTY OF FINANCE AND ECONOMICS 1. General information The faculty of finance and economics carries out preparation of experts for establishments of banking system, insurance organizations, off-budget funds, stock exchanges, depositaries, investment companies; also financial managers for various enterprises; experts for departments of financial management, the Federal Exchequer, fiscal bodies, control and auditing administrations. Our faculty carries out preparation of experts in two directions: «Finances and credit» (Specialty 060400), with specializations in «Finances» «Monetary Circulation and Credit» «Insurance and Off-Budget Funds» «Taxes and Taxation» (Specialty 351200) Our graduates receive qualifications: Economist or Taxation Specialist. The Faculty has four Departments: - Department of Finances. Head - Kunitsyna Svetlana Jurjevna, Ph. Doctor in Economics, Ass. Professor 664003, Irkutsk, 11 Lenina St., building 2, office 403. Tel.: (3952) 24 10 82 E-mail: email@example.com - Department of Monetary Circulation and Credit. Head - Alekseeva Irina Anatoljevna, Ph. Doctor in Economics, Ass. Professor 664003, Irkutsk, 11 Lenina St., building 2, office 401. Tel.: (3952) 24 10 81 E-mail: firstname.lastname@example.org - Department of Insurance and Off-budget Funds. Head - Bahmatov Sergey Aleksandrovich, Doctor in Economics, Professor 664003, Irkutsk, 11 Lenina St., building 2, office 415. Tel.: (3952) 24 00 10 E-mail: email@example.com - Department of Taxes and Taxation. Head - Komarova Galina Petrovna, Ph. Doctor in Economics, Ass. Professor 664003, Irkutsk, 11 Lenina St., building 2, office 405. Tel.: (3952) 24 27 48 E-mail: firstname.lastname@example.org 2. Dean of the Faculty Rusakova Oksana Igorevna, Ph. Doctor in Economics, Ass. Professor 664003, Irkutsk, 11 Lenina St., building 2, office 410. Tel.: (3952) 24 28 34 E-mail: email@example.com. 3. ECTS-coordinators of the Faculty Zhilan Oksana Dmitrievna, Ph. Doctor in Economics, Ass. Professor (Department of monetary circulation and credit). 664003, Irkutsk, 11 Lenina St., building 2, office 405. Tel.: (3952) 24 10 81 E-mail: firstname.lastname@example.org Bahmatov Sergey Aleksandrovich, Doctor in Economics, Professor (Department of insurance and off-budget funds). 664003, Irkutsk, 11 Lenina St., building 2, office 415. Tel.: (3952) 24-00-10 E-mail: email@example.com Kulijskaya Janna Sergeevna, Ph. Doctor in Economics, senior teacher (Department of finances) 664003, Irkutsk, 11 Lenina str., building 2, office 403. Tel.: (3952) 24-10-82 E-mail: firstname.lastname@example.org Sodnomova Svetlana Konstantinovna, Ph. Doctor in Economics, Ass. Professor (Department of taxes and taxation). 664003, Irkutsk, 11 Lenina St., building 2, office 405. Tel.: (3952) 24-10-82 E-mail: email@example.com 4. Research work at the Faculty Financial Management of Companies and Enterprises Financial and Investment Management Budgetary System and Budgetary Management Equity Market and Financial Instruments Banking Monetary and Credit Relations State and Commercial Insurance Risk-Management Corporate Fiscal Management Fiscal Policy Fiscal Planning. 5. Basic educational programs of the Faculty Program formats: - full-time (5 years, for admission you must have secondary school education); - part-time (5,5 years, for admission you must have secondary school education); - accelerated (2 years for those with university degrees and 3 years for college graduates). After graduation you can choose a degree program at the University Graduate School to obtain the academic degree of Master of Economics or Master of Management. Graduates of the faculty can continue education in postgraduate and doctoral studies with the subsequent defense of theses of the candidate and the doctor of economics accordingly. We offer a Master’s Program for Bachelors and Specialists in the following fields: Master of Economics: Finances; State and Municipal Finances Master of Finance: Financial Management, specialization “Financial Management in Insurance Companies”. Program formats: full-time (1,5 years); part-time (2,5 years). We offer PhD. or Post-Doctoral Programs in the specialization “Finances, Monetary Circulation and Credit”. CURRICULUM Specialty 060400 FINANCES AND CREDIT Specialization: MONEY CIRCULATION AND CREDIT 1 year of study (first and second semesters) Duration of the 1 semester: September-December. Duration of the 2 semester: January-June. Teaching Control of the results of Credits ECTS load training Sum total (hours) № Discipline Seminars Lectures Course papers Exams 1. Foreign language June Tests December 0 120 120 10 2. Physical education December 0 210 210 June 3. Russia’s history June 20 20 40 3 4. Basics of economics December 60 30 90 6 5. Microeconomics - 1 March 40 20 60 4 6. Macroeconomics - 1 June May 40 20 60 5 7. Philosophy December 20 10 30 5 8. History of economy March 20 10 30 2 9. Culturology March 20 0 20 1,5 10. Safety of life activities December 30 0 30 2 11. Mathematics - 1 December 105 70 175 9 June 12. Informatics June December 0 45 45 5 13. Basics of modern June 30 0 30 2,5 technologies 14. Psychology June 20 10 30 2 15. Nature management June 20 20 40 3 economics 2 year of study (third and fourth semesters) Duration of the 3 semester: September-December. Duration of the 4 semester: January-June. Teaching Control of the results of Credits ECTS load training Sum total (hours) № Discipline Seminars Lectures Course papers Exams Tests 1. Sociology December 10 10 20 2 2. Political science December 30 15 45 2 3. History of economics June 20 20 40 3 4. Econometrics – 1 December 45 30 75 4 5. Mathematics – 2 June 40 40 80 4 6. Economics of an enterprise December 30 15 45 3,5 7. Statistics – 1 December 30 30 60 4,5 8. Statistics – 2 June 40 40 80 6 9. Business accounting December June 70 70 140 11 10. Management December 30 0 30 2 11. Marketing December 30 0 30 2 12. International economics December 15 15 30 2 13. Automated information March 20 20 40 3 technologies in economics 14. Finances June May 40 30 70 6 15. Money, credit and banks June 40 30 70 5 3 year of study (fifth and sixth semesters) Duration of the 5 semester: September-December. Duration of the 6 semester: January-June. Teaching Credits ECTS Control of the results of training load Sum total (hours) № Discipline Seminars Lectures Course papers Exams Tests 1. Law December 30 30 60 4,5 2. Business accounting December 15 30 45 3,5 3. Economic analysis March December 50 35 85 6,5 4. Pricing December 30 15 45 3,5 5. Finances December 30 30 60 4,5 6. Money, credit and banks December December 30 30 60 5,5 7. Corporate finances June 40 40 80 6 8. Insurance June December May 70 55 12 10 5 9. Taxes and taxation June 40 40 80 6 10. Equity market June 40 40 80 6 11. Social insurance June 40 20 60 4 4 year of study (seventh and eighth semesters) Duration of the 7 semester: September-December. Duration of the 8 semester: January-June. Teaching Control of the results of Credits ECTS load training Sum total (hours) № Discipline Seminars Lectures Course papers Exams Tests 1. Basics of audit December 30 30 60 4,5 2. Budgetary system of the December 30 30 60 4,5 Russian Federation 3. Financial management December 30 15 45 3,5 4. Organization of activity in December 45 30 75 5,5 the equity market 5. Organization of the Central December 30 30 60 4,5 Bank’s activity 6. Organization of June December June 70 65 135 11 commercial banks’ activity 7. Organization and financing March 20 10 30 2,5 of investments 8. International monetary and June 40 20 60 4,5 credit relations 9. Banks’ accounting June 40 40 80 6 10. Commercial bank’s June 20 20 40 3 accounts 11. Real estate business and March 30 20 50 3,5 real estate assessment 12. Exchange activity in the June 20 10 30 2,5 equity market 13. World banking systems March 10 10 20 1,5 14. Banking marketing June 20 20 40 3 5 year of study (ninth and tenth semesters) Duration of the 9 semester: September-December. Duration of the 10 semester: January-June. Teaching Credits ECTS Control of the results of training load Sum total (hours) № Discipline Seminars Lectures Course papers Exams Tests 1. Banks’ accounting December 12 24 36 2,5 2. Liquidity of commercial December 12 12 24 1,5 banks 3. Analysis of commercial December 24 36 60 3,5 banks’ activity 4. Banking management December 24 24 48 3 5. Regulation of the equity December 12 12 24 1,5 market 6. Management of December 12 24 36 2,5 securities’ portfolio 7. Accounting in the equity December 12 24 36 2, market 5 8. Course paper on the December 0 0 0 1 organization of banking and equity market Practicum project Credits ECTS 22,5 Final interdisciplinary exam Credits ECTS 1,5 Diploma paper Credits ECTS 15 Diploma paper's defense Credits ECTS 3 AUTOMATED INFORMATION TECHNOLOGIES IN ECONOMICS Purpose: to form holistic system of knowledge about information technologies; to build long-time skills of working on a PC in the conditions of computer nets and systems; to master basics of modern methodology for elaborating automated information technologies and their practical implementation with the use of typical software packages. Contents: basics of the new information technologies and their impact on being successful in business; modern state and tendencies of hardware and software development; basics of automated solving economic problems; basics of creating information systems; the use of new information technologies of data processing in different fields; work with analytical computer programs: Audit Expert, Marketing Expert, Project Expert; complex information system of management “Galaktika”; local and global computer nets; E-mail. Year of study: 2. Lectures: 20 hours. Seminars: 20 hours. Assessment: final exam. ANALYSIS OF COMMERCIAL BANKS’ ACTIVITY Purpose: to master the basic methods of analysis and to apply them in practice on the base of published reports concerning the regional bank system. Contents: sources of information for conducting analysis; analysis of liabilities’ operations: analysis of owned capital and liabilities; analysis of assets’ operations: efficiency of the assets’ use, analysis of credit investments, analysis of investments in securities, analysis of indemnity bonds; analysis of profits: interest receipts and other profits; analysis of expenditures: interest payments and other expenses; analysis of the resources’ cost; analysis of financial results by types of profits. Year of study: 5. Lectures: 24 hours. Seminars: 36 hours. Assessment: course paper, final exam. BANKING MARKETING Purpose: to acquire knowledge in the field of specificity of bank’s activities in the market for services and to use basic marketing techniques in practice. Contents: the notion and essence of banking marketing system; features of banking products and services; marketing-mix in a bank; banks’ competition; external environment in the system of rendering banking services; marketing research in banking; communication strategy and promotion of banking services. Year of study: 4. Lectures: 20 hours. Seminars: 20 hours. Assessment: test. BANKING MANAGEMENT Purpose: to acquire knowledge in the field of banking management. Contents: peculiarities of systems analysis in a commercial bank; techniques of management in a modern commercial bank; economic processes management in a bank; strategic planning; liabilities management; own funds management; assets management; risk management; liquidity management. Year of study: 5. Lectures: 24 hours. Seminars: 24 hours. Assessment: test. SAFETY OF LIFE ACTIVITIES Purpose: to form the visioning of indissoluble unity of any activity and the requirements to safety and security of a man. Contents: basic terms and the concept of safety; legislative basis of safety of life activities in our country and abroad; harmful and dangerous factors of habitat of a man and their characteristic; theoretical and practical skills at evaluation of conditions at an object of economy in extreme situations of natural and technical character; development of measures on reduction of harmful and dangerous factors’ influence on the personnel; liquidation of consequences of extreme situations; public administration of safety of life activities (management of industrial extreme situations, civil defense, preservation of nature and labor protection). Year of study: 1. Lectures: 30 hours. Assessment: test. EXCHANGE ACTIVITY IN THE EQUITY MARKET Purpose: learn typical stock exchange structure, functions, and work mechanisms. Contents: the economic role, functions, and structure of secondary equity market; organized stock market’s specificity; stock exchange as trade organizer in the equity market; trading procedures; mechanism of stock exchange deals. Year of study: 4. Lectures: 20 hours. Seminars: 10 hours. Assessment: test. BUSINESS ACCOUNTING Purpose: to study methods and organization of business accounting; to master theoretical fundamentals and practical skills of using accounting information. Contents: objects and the field of application of business accounting; classification of an organization’s property; the essence of business accounting in the system of economic information and economic management; elements of accounting methods: balance, accounts, dual recording, appraisal, calculation, documentation, inventory, accounting; financial accounting; accounting of own capital, borrowed capital; accounting of capital assets, intangible assets; accounting of settlements, funds; accounting of labor remuneration; accounting of costs, finished goods, sales; accounting of financial results, etc. Year of study: 2, 3. Lectures: 85 hours. Seminars: 100 hours. Assessment: test, two exams. BUDGETARY SYSTEM OF THE RUSSIAN FEDERATION Purpose: to provide acquaintance with following issues: the organization of Russia’s budgetary system, the formation and use of budgetary funds included in Russia’s budgetary system, the budgetary rights of the national and local governments, forms and methods of budgetary planning. Contents: budgetary system and budgetary structure; budgetary policy of the Russian Federation; budgets’ equilibrium; budgetary classification; budgetary rights of the national and local governments of the Russian Federation; interbudgetary relations and their development in the Russian Federation; planning of budgetary receipts; planning of budgetary expenditures; State regulation of the social sphere; budgetary process and budgetary planning in the Russian Federation; economic and control activities of budgetary system establishments; urgent problems of budgets. Year of study: 4. Lectures: 30 hours. Seminars: 30 hours. Assessment: final exam. MONEY, CREDIT AND BANKS Purpose: to acquire knowledge in the field of monetary circulation, credit relations and banking. Contents: origin of money; functions of money and their role in economy; forms and types of money; organization of modern monetary circulation; money turnover and its structure; principles of the organization of cash and non-cash turnover; forms of cashless settlements; the essence, elements and types of monetary systems; principles of the monetary system organization in the Russian Federation; monetary and credit regulation; laws of monetary circulation; the essence of inflation, its types and forms; methods of anti-inflation policy; notion of monetary system and its types; balance of payments and its structure; theory of credit and credit relations; forms of credit; concept of credit system and its structure; banking system: the structure, role and functions; banking operations and transactions. Year of study: 2, 3. Lectures: 70 hours. Seminars: 60 hours. Assessment: course paper, test, final exam. INFORMATICS Purpose: to acquire knowledge about the state and tendencies of development of information technologies; to develop skills allowing to use the most popular technologies of information processing by the means of computers. Contents: notion of information technology; object technology; information technology; evolution of information technologies; informational society; informational infrastructure; properties of information technologies; notion of platform; criteria of assessment of information technologies; classification of information technologies; supporting and functional information technologies; technologies of preparing text documents; technologies of data processing based on tables; notion of distributed and functional information technology; object-oriented information technologies; standards of user interface; information technologies of ultimate user; user interface and its types. Year of study: 1. Seminars: 45 hours. Assessment: test. FOREIGN LANGUAGE Purpose: to develop the basic skills of foreign spoken language and written communication, and comprehending foreign speech in everyday and business situation. Contents: the speech etiquette in everyday communication, texts of country studies, fundamentals of economics, listening comprehension, practicing making up plans, annotations, essays. Year of study: 1. Seminars: 120 hours. Assessment: test, final exam. RUSSIA’S HISTORY Purpose: to study urgent problems of Russian history, to discover general trends and peculiarities of Russian historical process; to build skills and abilities of analyzing historical factors and events. Contents: object and goals of Russia’s history course; political and economic system of Russia through the IX-XIX centuries; peculiarities of Russian modernization in the XVIII-XIX centuries; establishment and development of the Soviet system, attempts of its modernization; break-up of the USSR and its consequences; radical market reforms in Russia. Year of study: 1. Lectures: 20 hours. Seminars: 20 hours. Assessment: final exam. HISTORY OF ECONOMY Purpose: to develop skills of economic thinking on the base of large historical and economic material; to bring up skills of independent analysis; to acquire knowledge on the main historical and economic conceptions. Contents: the evolution process of economic institutes; sources of institutional changes; factors of institutions’ evolution; the main features of basis economic institutes (such as production, distribution, trade, money, credit and others) at all stages of European economic history: from prehistoric times to industrial era. Year of study: 1. Lectures: 20 hours. Seminars: 10 hours. Assessment: test. HISTORY OF ECONOMICS Purpose: to shape knowledge about the main stages of the world economic science development; to give the notion of the famous economists’ intellectual biography and contents of their main books. Contents: development of economic conceptions in Antique World and the Middle Ages; evolution of economic conceptions in rising market economy and entrepreneurship; mercantilism as the economic theory of the age of primary capital accumulation; physiocrats; English classical school of political economy; marginalism and its revolution; crisis of neoclassical line and rise of Keynesian theory; neo- Keynesian theory; history of modern (post-war) economic theories. Year of study: 2. Lectures: 20 hours. Seminars: 20 hours. Assessment: test. CULTUROLOGY Purpose: to study systems approach to the problems of the world and national culture, to master the principles of cultural analysis of reality. Contents: object and methods of culture studies, typology of culture and various ways of representing cultural material; pagan culture, its original idea, the problem of classifying spirits and gods; symbols of pagan architecture and sculpture, art and music, oral speech and writing, theatre, songs and dances; specific features of the ancient world’s science and philosophy; religious culture: architecture, sculpture, art, music, literature, philosophy and science of the medieval type; peculiarities of the secular culture of Europe, Asia and Russia. Year of study: 1. Lectures: 20 hours. Assessment: test. LIQUIDITY OF COMMERCIAL BANKS Purpose: to study condition of liquidity, the system of liquidity management, and the influence of liquidity on the financial situation of a credit organization. Contents: liquidity of a commercial bank – concept and the factors determining liquidity and solvency; management policy in the sphere of liquidity control: basic elements of management and liquidity assessment in a credit organization, control of the policy and procedures on liquidity management, development of actions for liquidity recovery, the role of Russian Bank’s regional establishments in assessment and control of liquidity risk; methods and instruments of liquidity management; ways of liquidity regulation; liquidity management on the base of economic features: parameters of liquidity, analysis of general liquidity, analysis of instant and current liquidity; mechanism of liquidity management on the base of monetary flows; foreign experience in liquidity management. Year of study: 5. Lectures: 12 hours. Seminars: 12 hours. Assessment: test. MACROECONOMICS - 1 Purpose: to teach students to analyze phenomena and processes at the level of economy as a whole; to give knowledge for understanding economic policy of the State and the processes of globalization in the world economy. Contents: problems of the national economy; goals of national economy and assessment of the performance; the theory of general economic equilibrium; the classical and Keynesian models of economic equilibrium; modern theories of “new classicists” –theory of rational expectancies, theory of supply economics, monetarism; the problem of macroeconomic instability, inflation and unemployment, and their interrelation; cyclic fluctuations in the economy; theories of the State and state regulation of the economy; economic growth. Year of study: 1. Lectures: 40 hours. Seminars: 20 hours. Assessment: course paper, final exam. MARKETING Purpose: to give knowledge of modern marketing theory and skills of marketing research and marketing management. Contents: basic marketing concepts; marketing environment; marketing information; marketing research, methods of marketing research; market segmentation and positioning of goods on the market; marketing mix; product; price, pricing; place; promotion; market analysis; strategic marketing management; organizational structure of marketing; international marketing. Year of study: 2. Lectures: 30 hours. Assessment: test. MATHEMATICS–1 Purpose: to get mathematical background (basic notions and methods of mathematical analysis, linear algebra and differential equations), which is necessary for studying advanced courses in mathematics and economics, to get acquainted with applications of mathematics in economics. Contents: set theory, theory of limits of numerical sequences and functions, basics of differential calculus of one-variable and multivariable functions, integral calculus of one-variable functions, elements of vector and matrix algebra, systems of linear algebraic equations, numerical and power series, ordinary differential equations of first and second order, applications in economics (marginal analysis, theories of consumption and production, primary market models, and economic dynamics models). Year of study: 1. Lectures: 105 hours. Seminars: 70 hours. Assessment: final exam. MATHEMATICS–2 Purpose: to familiarize students with decision-making techniques in the problems of optimal resources use; to learn to build mathematical models correctly, and to choose methods of their solving with theories of linear, non-linear and dynamic programming involved. Contents: optimization models in economics; linear programming; graphic method and simplex-method in LP; dual problems, the basic theorems of a duality and their economic sense; post-optimal analysis; special linear programming problems; transport problems and methods of their decision; examples of non-linear economic- mathematical models; convex programming; Kuhn and Tucker theorem and its economic interpretation; methods of dynamic programming; network models. Year of study: 2. Lectures: 40 hours. Seminars: 40 hours. Assessment: final exam. INTERNATIONAL MONETARY AND CREDIT RELATIONS Purpose: to study the set of international relations in the field of money and credit, concerned with the movement of goods, capitals and services between countries; to study the theory and practice of world money-market functioning, activities of international financial and credit institutes, organization of monetary relations on the territory of the Russian Federation. Contents: monetary relations and monetary mechanism; notion and types of monetary market; exchange rate risk and the factors influencing its occurrence; basic forms of monetary policy; the review of monetary legislation in developed countries; organization of foreign trade crediting in our country and abroad. Year of study: 4. Lectures: 40 hours. Seminars: 20 hours. Assessment: final exam. MANAGEMENT Purpose: to study the rules of formation, functioning and development of modern systems of management at an organization performing in competitive environment. Contents: modern trends in management theory and practice widely used abroad and actively studied in Russia; systems analysis of management processes; methods of management at an enterprise; human resources management; management ethics. Year of study: 2. Lectures: 30 hours. Assessment: test. MICROECONOMICS - 1 Purpose: to acquaint students with the instruments of microeconomics; to use these instruments for studying market agents’ behavior and analyzing markets functioning. Contents: general features of market, the mechanism of its functioning; the theory of consumer choice – cardinal and ordinal methods of measuring utility; production and entrepreneurial activity; a firm in the market; total, average and marginal product; isoquanta and isocosts: production cots; profit in accounting and economic senses; models of perfect and imperfect competition – pure monopoly, oligopoly, monopolistic competition; markets for the factors of production – market for capital, labor and land. Year of study: 1. Lectures: 40 hours. Seminars: 20 hours. Assessment: final exam. INTERNATIONAL ECONOMICS Purpose: to form an idea of the world economy, elements of which are interdependent and correlated; to teach to realize specific economic processes in the context of global development. Contents: the world economic system through interconnection between national and global economy; key problems of the world economic development in the end of the 20th – beginning of the 21st century; participation of single countries and regions in the world economy; the economic cycle peculiarities of the countries with advanced economy; features of economic development of the new industrial countries, countries with economy in transition, and developing states. Year of study: 2. Lectures: 15 hours. Seminars: 15 hours. Assessment: test. WORLD BANKING SYSTEMS Purpose: to acquire knowledge in the field of banking systems’ construction and foreign banking systems functioning. Contents: peculiarities of various bank groups functioning, such as gross- banks, Raiffaizen banks, depositary, business and credit institutes with specific goals, and private bankers; operational experience of foreign commercial banks; special credit and financial institutes; banking policy and rendering banking services; methods of human resources management in banking; issues of State regulation of bank systems’ activity and creating databases about condition of enterprises, incidents with receipts and “super indebtness”. Year of study: 4. Lectures: 10 hours. Seminars: 10 hours. Assessment: test. ТAХЕS AND TAXATION Purpose: to study the organization of mobilization of tax receipts in the budgetary system; to master methodology, methods and skills of calculating taxes. Contents: tax relations and their participants; rights and obligations of participants; tax obligation: occurrence and execution; systems of taxation; methodology, methods and practice of calculating taxes and filling out tax declarations. Year of study: 3. Lectures: 40 hours. Seminars: 40 hours. Assessment: final exam. ORGANIZATION OF COMMERCIAL BANKS’ ACTIVITY Purpose: to study basics of banking, to give understanding of economic sense in banking operations, and to study their influence on economic processes in a society. Contents: commercial bank – the second level of banking system; resources of a commercial bank; insurance system of natural persons’ deposits; assessment of financial condition and methods of determining the borrower’s credit status; forms of providing credit recurrency; contractual relations between a bank and a client; assets’ operations; banking risks; operations with precious metals and stones; banking services; bank interest. Year of study: 4. Lectures: 70 hours. Seminars: 65 hours. Assessment: course paper, test, final exam. ORGANIZATION AND FINANCING OF INVESTMENTS Purpose: to provide active assistance to: investment process at microeconomic and macroeconomic levels, the growth of production potential, and overcome of economic crisis. Contents: analysis and synthesis of investment activity; evaluation of investment decisions; development of investment projects and programs; process of portfolio selection assessment; working out effective mechanism of investments regulation at different levels of administration; elaboration of proposals considering the increase of investment attractiveness of regions and the country as a whole; organization and financing of investments as an essential and important element of the financial and economic mechanism of management. Year of study: 4. Lectures: 20 hours. Seminars: 10 hours. Assessment: test. ORGANIZATION OF THE CENTRAL BANK’S ACTIVITY Purpose: to study legal basics of the first level of banking system – Central Bank’s functioning. Contents: banking system and its structure; legal provision for Bank of Russia’s activity; organization of the public registration of credit organizations; licensing of banking activity; surveillance of credit organizations’ activities; measures for the prevention of credit organizations’ bankruptcy; temporary administration. Year of study: 4. Lectures: 30 hours. Seminars: 30 hours. Assessment: final exam. ORGANIZATION OF ACTIVITY IN THE EQUITY MARKET Purpose: to study the organization and procedures of conducting professional activity in the equity market. Contents: legislative basics of conducting professional activity in the equity market; the organization and procedures of different types of professional activity in the equity market: brokerage, dealership, securities management, depositary activity, activity on conducting the register of securities owners, clearing activity, activity on the organization of trade in the equity market; licensing of professional activity in the equity market. Year of study: 4. Lectures: 45 hours. Seminars: 30 hours. Assessment: final exam. AUDIT BASICS Purpose: to provide students with theoretical basics of auditing and its functioning in Russia and foreign countries; to develop practical skills on the organization of auditing and techniques of auditors’ control of the enterprises. Contents: theoretical basics of the financial control and audit – the essence of financial control, its classification, forms, methods, techniques, and the place of audit in the system of financial control; history of audit in Russia; the notion, objectives, and principles of audit activity; issues of legislative regulation of audit, features of certification and licensing; standards of audit; international experience of audit standardization; professional ethics of an auditor, relationships between auditor and client; techniques of audit revisions; financial analysis in audit activity; audit of accounting policy and constituent documents; audit of operations on purchase of fixed and intangible assets, and audit of long-term financial investments; audit of operations in the production process; audit of operations on selling production and determining of financial results; audit of operations on payments, settlements, etc. Year of study: 4. Lectures: 30 hours. Seminars: 30 hours. Assessment: final exam. BASICS OF MODERN TECHNOLOGIES Purpose: to teach future specialists to analyze concrete technological and production processes as economic objects, to solve the problems of assessing the economic efficiency of technological processes and economic projects investments on the base of innovational technologies. Contents: notion of production and technological processes as economic objects, the laws of their development; optimization of technological systems and selection of the most efficient technological processes; technical, ecological and economic basics of modern technologies in the main industries; market aspects of technological development. Year of study: 1. Lectures: 30 hours. Assessment: test. BASICS OF ECONOMICS Purpose: to form modern economic thinking and to study methodology necessary for understanding and analyzing real processes in Russian economy. Contents: main stages and schools of economic theory; object and method of economic theory; economic systems and general principles of economy’s organization; commodity-money economy; commodity and economic good; theory of money and laws of money circulation; the system of ownership relations and economic theory of property rights. Year of study: 1. Lectures: 60 hours. Seminars: 30 hours. Assessment: test. COMMERCIAL BANK’S ACCOUNTS Purpose: to acquire knowledge on the problems and issues of formation and providing the accounts of a commercial bank to the Russia’s Central Bank and its regional establishments. Contents: forms of accounts; deadlines for submitting accounts to the Bank of Russia, normative documents for filling out the accounts. Year of study: 4. Lectures: 20 hours. Seminars: 20 hours. Assessment: test. POLITICAL SCIENCE Purpose: to acquire systematic understanding of political institutions, processes, and technologies of political goals’ achievement in their interrelation with economic and social development; to use acquired knowledge for qualified participation in political life of the country as well as for an economist’s professional activity. Contents: issues of government and administrative relations; provision of social and political stability in the history of political ideas and modern political theory; institutional aspects of politics, political relations and processes; subjects of politics; political management and political marketing; political and electoral technologies; political culture and political ideologies; world politics and international relations. Year of study: 2. Lectures: 30 hours. Seminars: 15 hours. Assessment: test. LAW Purpose: to acquire deep knowledge in the field of legal regulation of social relations, including property relations; to understand the features of the main branches of law in order to behave properly and skillfully. Contents: general clauses on the state structure of the Russian Federation (the system of legislative, executive and juridical authorities); general statutes of the civil law (the notion of object and method of civil law, the main principles and sources of civil law, notion of entrepreneurial activity, subjects of entrepreneurial activity, the basics of contract law, the main types of contracts); general statutes of the labor law (labor contract, labor time and rest period, wages). Year of study: 3. Lectures: 30 hours. Lectures: 30 hours. Assessment: final exam. PSYCHOLOGY Purpose: to acquire theoretical and practical knowledge in the field of psychology, to study how to apply psychological knowledge in practice in the sphere of economic activities. Contents: object and structure of modern psychology; object and fields of research of economic psychology; perception and attention; factors determining attention; attentiveness as a property of the personality and as a condition; memory; thinking and intellectual features of the personality; self-consciousness and its functions; the meaning of life and personal growth; humanistic psychology; communicative competence; model of communication; psychology of money, the attitude of a person to money; money-saving behavior, expenses, debts. Year of study: 1. Lectures: 20 hours. Seminars: 10 hours. Assessment: test. REGULATION OF THE EQUITY MARKET Purpose: to acquire theoretical knowledge about the basics of equity market regulation, structure of the object regulated, and subject structure of stock market regulation system; to make comparative analysis of equity market regulation systems in different countries. Contents: equity market regulation system: basic ideas and notions; the object of regulation: contents and structure; regulation subject; State regulation infrastructure; peculiarities of state regulation in the equity market; self-regulation processes in the equity market; foreign experience of stock market regulation; equity market regulation system in pre-revolutionary Russia; regional level of stock market regulation; activity of Irkutsk regional division of the Russia’s Federal Commission for the Equity Market. Year of study: 5. Lectures:12 hours. Seminars:12 hours. Assessment: test. REAL ESTATE BUSINESS AND REAL ESTATE ASSESSMENT Purpose: to give general concepts of real estate activity and real estate assessment, to reveal the essence of realtor and real estate appraiser’s activity, to give theoretical base for conducting realtor and real estate appraiser’s activity. Contents: the legislation regulating realtor activity and real estate assessment; the market for real estate in Russia, its development and prospects; procedures of operations with real estate and application of this knowledge in practice; principles and the process of real estate assessment; making contracts in practice of real estate appraiser and realtor. Year of study: 4. Lectures: 30 hours. Seminars: 20 hours. Assessment: final exam. EQUITY MARKET Purpose: to acquire theoretical knowledge of the basic stock instruments, organization and functioning of the equity market; to gain skills of analyzing information on the condition and forecast development of the equity market. Contents: securities: notion, properties, types, classifications; bonds; national and municipal government papers; bills of exchange; depositary and savings certificates; housing certificates; joint-stock companies: basics of corporate board; shares; derivative securities: notion, types, purpose; securities issue; circulation of securities; equity market: concept, types, and structure; players in the equity market; basics of organization and activity of investment funds and share investment funds; infrastructure of the equity market; basics of portfolio investments in the equity market; regulation of the equity market. Year of study: 3. Lectures: 40 hours. Seminars: 40 hours. Assessment: final exam. SOCIAL INSURANCE Purpose: to study theoretical basics of social insurance and practical issues of modern international and national systems of social insurance; to generate modern economic thinking in the field of social insurance and employees’ social security. Contents: essence and functions of social insurance; subjects of social insurance; international practice and international legislation in the field of employees’ social insurance; legal regulation of social insurance system in the Russian Federation; basic types of social insurance carried out in the Russian Federation; social off-budget funds, their essence and main functions; basic financial sources of social insurance system of in the Russian Federation; pension insurance: the essence, the basic participants, relations between participants; basic kinds of labor pensions and the technique of their calculation; basic objectives and principles of the obligatory medical insurance system in the Russian Federation; Federal and Territorial funds of obligatory medical insurance; types of the hardship allowances given to citizens of the Russian Federation from the Social Insurance Fund; main principles and goals of obligatory social insurance of accidents in the production process and occupational diseases, objects, subjects, insurants and insurers, types of insurance coverage. Year of study: 3. Lectures: 40 hours. Seminars: 20 hours. Assessment: test. SOCIOLOGY Purpose: to acquire theoretical knowledge about functioning of society as a social system and build skills on research of social reality. Contents: history of theoretical and empirical sociology; social categories, society, personality, social groups, social institutes, social relations and interaction, social structure, social stratification, social control and deviant behavior, social processes; methods of sociological research, theoretical and practical knowledge of conducting sociological research. Year of study: 2. Lectures: 10 hours. Seminars: 10 hours. Assessment: test. STATISTICS – 1 Purpose: acquiring theoretical knowledge and practical skills in using statistical methodology of calculation and analysis. Contents: subject, method, goals and the main categories of statistics; statistical inquiry, grouping of collected statistical data; the method of relative and average numbers; analysis of variance, sampling observation and index calculus; temporal sequences of data, statistical methods of revealing relations between phenomena. Year of study: 2. Lectures: 30 hours. Seminars: 30 hours. Assessment: test. STATISTICS – 2 Purpose: acquiring theoretical knowledge and practical skills in using statistical methodology of calculation and analysis of economic figures in social and economic spheres of activities of enterprises and organizations with different forms of ownership. Contents: subject, method and goals of statistics in different branches and spheres of economy; classifications and groupings in economical statistics; population statistics; living standard statistics; national wealth statistics; building major macrofigures in the system of national economic accounting; products’ statistics; statistics of number and structure of an enterprise’s employees; labor hours statistics; statistics of capital assets and inventory; statistics of material security; statistics of wages and efficiency of production; statistics of financial results. Year of study: 2. Lectures: 40 hours. Seminars: 40 hours. Assessment: final exam. INSURANCE Purpose: to form the students’ modern economic thinking; to teach using all known methods of insurance protection for providing continuous production, preservation of personal property, and coverage in the case of unexpected unfavorable circumstances. Contents: the economic essence of insurance; the main notions and principles of insurance; the forms of insurance; classification of insurance industries; insurance market and its elements; state regulation of insurance activity; organization of insurance company’s activity; property insurance of juridical persons and individuals; life insurance, accident insurance, medical insurance, liability insurance, business risks insurance, reinsurance. Year of study: 3. Lectures: 70 hours. Seminars: 55 hours. Assessment: course paper, test, final exam. MANAGEMENT OF SECURITIES’ PORTFOLIO Purpose: to acquire theoretical knowledge of the basic approaches to formation of securities portfolio, organization and functioning of the equity market; to gain skills of analyzing information on the condition and forecast development of the stock market. Contents: securities: types and properties; shares: Russian specificity; agency pass-throughs and corporate bonds; bills; derivative securities: notion, types, purpose; the Russian equity market: structure, principles of work; players in the equity market: investment companies, share investment funds; strategy of work in the equity market; determining investments’ riskiness; methods of the equity market analysis: technical and fundamental analysis; formation of portfolio: theoretical aspects and Russian specificity; ways of diversification and escalating of position; capital management. Year of study: 5. Lectures: 12 hours. Seminars: 24 hours. Assessment: test. BANKS’ ACCOUNTING Purpose: to acquire knowledge of banks’ accounting, including the organization of accounts in the banking sphere; organization and the order of accounting and reflecting bank operations, to learn to draw balance and form accounting reports of a bank. Contents: basics of the organization of business accounting in banks; documentation and document circulation in a bank; organization and the order of accounting settlement operations; accounting of inter-bank calculations; accounting of cash operations; organization and the order of accounting deposit operations; organization and the order of accounting loan operations; accounting of operations on formation of the chartered capital; organization and the order of accounting securities; organization and the order of accounting of internal bank operations. Year of study: 4, 5. Lectures: 52 hours. Seminars: 64 hours. Assessment: two exams. ACCOUNTING IN THE EQUITY MARKET Purpose: to gain skills of conducting accounting of operations with securities, internal accounting of professional participants in the equity market; to study features of accounting of assets and liabilities’ operations in the banks – professional participants in the equity market. Contents: general knowledge on accounting of securities, internal accounting of professional participants of the equity market; assets’ operations with securities, liabilities’ operations with securities; accounting of issuing and placing securities; calculation and payment of dividends on stock; depositary operations. Year of study: 5. Lectures: 12 hours. Seminars: 24 hours. Assessment: test. PHILOSOPHY Purpose: to develop creative abilities and philosophic way of thinking, to acquire theoretical and methodological approaches to world outlook as well as professional, moral and civic qualities. Contents: ancient philosophy and urgent problems of individuals and society that are being studied in the modern philosophic literature; the object and social functions of philosophy; historical typology of philosophic ideas of the essence and the existence of the world, the nature and the structure of mentality, truth and spiritual and practical cognition of reality; the main problems of social philosophy: peculiarities of social philosophic cognition; the systematic character of social organization; contents and interaction of the main spheres in social life; genesis and structure of the people’s spiritual activity, social mentality and culture; the origin and essence of man. Year of study: 1. Lectures: 45 hours. Seminars: 30 hours. Assessment: final exam. FINANCIAL MANAGEMENT Purpose: to provide students with the basics of financial management at an enterprise (a firm, a corporation) and develop skills of applying acquired knowledge. Contents: object of financial management; time value of money (basics of financial mathematics); assessment of financial assets (corporate bonds, common and privileged stock); cost of capital sources; weighted average cost of capital; estimation of investment projects (criteria of estimating investment projects and conditions of their application); financial performance of a company (ratios used in financial management); financial leverage (European and American approaches to financial leverage estimation); financial risk; operational leverage; business-risk; aggregated risk of the company (combined affect of financial and operational levers); assortment policy of an enterprise; dividend policy (fundamental theories and practical methods of dividend policy); working capital management (basics of managing net working capital, accounts payable and receivable, inventories, and cash); combination of long- term and short-term activities; matrices of financial strategies. Year of study: 4. Lectures: 30 hours. Seminars: 15 hours. Assessment: test. FINANCES Purpose: to provide students with theoretical basics and principles of financial relations and the mechanism of their formation; to reveal the meaning of economic category "finances" and its relation to other economic categories; to learn existing types of financial relationships composing the financial system of a country; to show their role in this system; to learn methods of formation of financial resources of the country; to study budget and tax systems of different countries, state funds and credit, forms and methods of financial management in different spheres of financial system; to learn how to link internal disciplines within the course of "Finances" and financial theory with external disciplines. Contents: essence and functions of finances; financial theory development by fundamental economic schools; financial policy and financial management; state budget; taxes; state credit; state budget expenditures; local finances; special government funds; corporate finances. Year of study: 2, 3. Lectures: 70 hours. Seminars: 60 hours. Assessment: course paper, test, final exam. CORPORATE FINANCES Purpose: to receive basic knowledge on how to manage corporate revenues and expenses, equity and capital, financial in-flows and out-flows, and how to organize finances of a company in the best way. Contents: theory of corporate finance; enterprise as capital economy and common financial conditions; managing, planning and forecasting revenues and expenses of an enterprise; financial resources of an enterprise and self-financing; formation and use of working capital; enterprise’s investment policy; investment efficiency estimation; financial planning, forecasting, and budgeting; estimation of financial performance of the company and financial risk management; features of corporate finances in different industries of economy. Year of study: 3. Lectures: 40 hours. Seminars: 40 hours. Assessment: final exam. PRICING Purpose: to acquire knowledge of objective laws of market pricing, to study mechanisms of pricing and price control of economic subjects in the conditions of market economy and existing conjuncture. Contents: methods and ways of price management; pricing; pricing process; pricing management of economic subjects in different industries and spheres of economy; types of prices and the system of prices; prices’ differentiation; State regulation of prices in market conditions; pricing policy and the strategy of enterprises; pricing in the major branches of the national economy; pricing in the consumer market, the market of services and the world commodity market. Year of study: 3. Lectures: 30 hours. Seminars: 15 hours. Assessment: test. ECONOMICS OF AN ENTERPRISE Purpose: to give knowledge of forms and methods of conducting economic processes of an enterprise, to study economic efficiency of market economic system. Contents: an enterprise in system of market economy; forms of organization of production and their influence on economics of an enterprise; fixed capital, output of an enterprise and their influence on economics of an enterprise; circulating assets of an enterprise; methods of determining an enterprise’s needs in circulating assets, indices of efficiency of the use of circulating assets, enhancing use of circulating assets; the staff of an enterprise, labor remuneration and their influence on economics of the enterprise; categories of industrial personnel and features of structure industry enterprise’s staff; concept of labor productivity, motivation for work; labor remuneration and principles of its organization at industry enterprises; forms and systems of labor remuneration; investment policy of an enterprise; costs at an enterprise, cost structure of an enterprise; prime cost of production and its types; classification of costs by elements and calculation articles; finding break-even point; nature protection costs at industry enterprises; methods of production costs’ reduction; price for production and its functions, types of prices and their structure, main scheme of price formation, choice of a method of pricing; quality, standardization and certification of production and their influence on economics of an enterprise; scientific and technological advance at an enterprise; bankruptcy of enterprises. Year of study: 2. Lectures: 30 hours. Seminars: 15 hours. Assessment: final exam. NATURE MANAGEMENT ECONOMICS Purpose: to form a new viewpoint which helps make decisions concerned with rational use of natural resources and environment protection. Contents: modern theory and practice; problems in development of ecological policy considering large ecological reserves of Russia; other problems in natural resources’ use; estimation of costs and benefits from ecological and environmental protection; consolidated international efforts. Year of study: 1. Lectures: 20 hours. Seminars: 20 hours. Assessment: test. ECONOMIC ANALYSIS Purpose: to master basics of assessing the results of an enterprise’s economic activity and revealing the factors that have influenced the results. Contents: complex analysis of economic activity: object and method of economic analysis; analysis of production; analysis of using the main factors of production; analysis of production costs; financial analysis (analysis of financial statements): analysis of property status of an enterprise; analysis of the balance’s liquidity; solvency analysis; analysis of financial stability; analysis of business activities; analysis and forecasting of bankruptcy. Year of study: 3. Lectures: 50 hours. Seminars: 35 hours. Assessment: test, final exam. ECONOMETRICS–1 Purpose: to get basic knowledge of probability theory, mathematical statistics and econometrics. Contents: combinatorial calculus, the probability concept, computations using probabilities, random variables and their common distribution, expected value and variance; estimations and their properties, point and interval estimations, hypothesis testing; the General Linear Statistic Model (GLSM): classical assumptions of variables and random error, the Ordinary Least Squares (OLS) method of estimation, properties of OLS estimators; violation of classical assumptions of the GLSM: multicollinearity, heteroscedasticity, autocorrelation, dummy variables, the Generalized Least Squares method; simultaneous-equations models; dynamic models. Year of study: 2. Lectures: 45 hours. Seminars: 30 hours. Assessment: test.
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