Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


Students will augment their understanding and knowledge of the Russian economy. The focus of the course is on general structure of the Russian economy, main principles of its functioning and its place and role in the world economy.

Credits: 6

Schedule: 26.10.2020 - 09.12.2020

Teacher in charge (valid 01.08.2020-31.07.2022): Svetlana Ledyaeva

Teacher in charge (applies in this implementation): Svetlana Ledyaeva

Contact information for the course (applies in this implementation):

CEFR level (applies in this implementation):

Language of instruction and studies (valid 01.08.2020-31.07.2022):

Teaching language: English

Languages of study attainment: English


  • Valid 01.08.2020-31.07.2022:

    The course provides an introduction to the Russian economy. We will begin with the insight into economic history of Russia from Tsar Period (starting from Peter the Great) and proceed to the years of transition from Soviet to market economy. We then progress to the discussion of current issues of the economic development of Russia. These issues include economic geography of Russia, Russian financial system, sectorial analysis of the Russian economy, international economic relations of Russia with the rest of the World and some others. Special attention will be given to the current situation in Russia, i.e. Russian economy under sanctions. This will include such issues as the economic and political causes of Russia-Ukraine crisis, Western sanctions on Russia and countersanctions of Russia, the consequences of sanctions for Russia, its main partners and global economy in general.

Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

        One individual home assignment/essay, 15 % of the grading
        Case study/group homework, 15% of the grading
        Case study discussion/Presentation on the group homework, 10 % of the grading
        Term paper, 40 % of the grading
        Final exam, 20 % of the grading



  • Valid 01.08.2020-31.07.2022:

        Lectures 22h
        Home assignments 20h
        Term paper 50h
        Class presentation and discussion of group homework  10h
        Preparing for lectures 20h
        Revision/self study  20h
        Preparation for exam 15h
        Exam 3h
        Total: 160


Study Material
  • Valid 01.08.2020-31.07.2022:

    Oxford Handbook of the Russian Economy, Edited by Michael Alexeev and Shlomo Weber, 2013.


    Articles, book chapters, etc. as specified by the instructor.

    Book chapters of the course book will be uploaded on the course web page.

  • Valid 01.08.2020-31.07.2022:

    Principles of Economics (31A00110 or 31A00210) course or equivalent studies.

SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth