Market reforms are fundamentally changing the economy, as well as consciousness of the people, and form an increasing demand for knowledge of the theoretical foundations of the market economy. Lack of this knowledge makes impossible the active behavior in a dynamic market environment, in scientific researches and in business as well.

There is an opportunity to overcome the ideologies of the past and to get closer to international standards in the development of economic thought in the post-communist countries. However, the development of economic theory has been moving slowly and inconsistently. This is evidenced by the fact that curriculums of the economists' training in universities even now include the political economy (in fact the Marxist and Leninist one), which represents a dead end in the development of economic thought.

The existence of extreme ideological political economy as an integral part of economic theory: first of all, does not promote the learning and development of economic theory as a modern system of knowledge; secondly, inhibits the approximation of the developments of national theorists to the international level, and thirdly, reduces the professionalism of students, their approach to the challenges of modern business.

The proposed textbook is an attempt to spread tools of micro-and macroeconomic analysis on the sphere of World Economy and International Economic Relations at the level of the intermediate course (an intermediate level). Our consideration of its structure makes it possible with the logical accuracy to identify and to explore the major issues that are included in the subject of World Economy and International Economic Relations

In the first part, on the basis of multidimensional methodology, the subject of the course "World Economy and International Economic Relations " " is determined from the metasystem of Global Economic Connections, and Integration and Globalization dimensions of modern World Economy and International Economic Relations System are discussed.

The second part is devoted to the analysis of microeconomic mechanism of World Economy and International Economic Relations System : the functioning of international trade relations and the international movement of factors of production.

The third part presents the researches of the macroeconomic enforcement mechanism of World Economy and International Economic Relations: the functioning of modern monetary and financial structures.

The fourth part discusses basic questions of macroeconomic policy in an open system of international economic relations.

We hope that this textbook will allow students to make the most use of the global research experience of World Economy and International Economic Relations . It will be useful in both the lecture hall and the later life.


The World Economy and International Economic Relations

The World Economy: Basic Characteristics and Structure

The modern world economy as a special organic holistic system began to form on the basis of the world market since the end of 19th - beginning of 20th centuries. Now we can talk about the world economy as a global economic system, which is based on international and world economic division of labor, internationalization and integration of production and exchange, and operates according to the principles of a market economy.

The modern world economy is a holistic system, but this integrity has been evolving gradually. It was formed with the evolution of the international division of labor, the process of internationalization of economic life of the world countries , the integration of groups of countries into regional economic complexes (unions) of interstate regulation of social and economic processes, trans-nationalization of production.

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