A breakthrough in a career will be provided by the specialty “Business Management. International business, its system and features International business and foreign business

The program is implemented at the faculty International business and business administration.

Program goal: training of international managers who have theoretical and practical knowledge and skills in the field of modern international management and marketing, who are able to make decisions on the strategic development of the company; managers - leaders, highly qualified heads of organizations of various industries with knowledge of a foreign language, able to work successfully in Russian and foreign companies and promote the interests of Russian business in world markets.

Program Features
The master's program is based on the practices of leading foreign universities and the experience of MGIMO in training specialists for the international management sphere and provides a high level of graduates - masters in a wide profile contemporary issues international management, corporate governance, foreign economic activity, Marketing and Public-Private Partnerships.

Great importance is attached to the practice-oriented preparation of undergraduates for work in various areas of business, as well as for scientific and teaching activities. A number of graduates of this program are currently working at the Department of Management, Marketing and Foreign Economic Activity as teachers and associate professors. The program is carried out in close cooperation with the MGIMO Incubator, where undergraduates in their free time receive additional knowledge on starting a new business in our country and learn how to develop business plans.

Teaching uses interactive teaching methods: business and role-playing games, simulation games, case studies, presentations, conferences round table, test trainings, etc., which allows students to develop practical skills and competencies in making management decisions in the field of international business.

Who are we preparing?
Graduates at the end of the program have knowledge in the field of business organization, building strategic plans for the development of an organization, developing business plans for starting a new business, are able to build effective organizational structures and relationships in a team, and have the skills of analysis financial reporting and anti-crisis regulation and management, can optimize the company's product, pricing, marketing policy in the Russian and world markets, organize advertising and PR activities, form sales promotion tools, participate in the preparation and implementation of business projects, work in consulting agencies.

They have the skills of scientific and practical research and analytical work, can work in research institutes and organizations, are ready to continue their studies in graduate school and, on the basis of a master's thesis, prepare a dissertation for the degree of candidate of economic sciences.

Master's degree gives a high level of knowledge in the field of a foreign language (English, French, German, Spanish). Graduates are able to freely read and translate business press in foreign languages, conduct business negotiations in foreign languages, and draw up trade and economic documents.

Training is carried out in the following specializations:

1. Modern practice of international business
2. International Corporate Governance Practice
3. Management of foreign economic activity of the company and modern technologies international marketing
4. Public private partnership

Major disciplines:

• Actual aspects of International management
• corporate governance ( Corporate Governance)
• Management consulting (Management consulting)
• crisis management ( Crisis management)
• Strategic management (Strategic management)
• Financial management (Financial management)
• International marketing (International marketing)
• innovation management ( Innovation management)
• Вusiness Administration (Regulation of business activity)
• Entrepreneurship (Entrepreneurship)
• International project management(Management of international projects)
• Business Planning (Business planning)
• Human resources management by human resourses)
• Organization as behavior (Organizational behavior)
• Stock exchange operations (Management of exchange operations)
• Ethic and social responsibility (Ethics and Social responsibility business)
• Private-state partnership (Private-state partnership)
• Brand management (Brand management)
• and etc.

Students of the program have the opportunity in the second year of study to continue their studies at one of the partner universities: the Sapienza University of Rome, Italy, with the University. Carl Linnaeus, Sweden, with Henley Business School, UK.

Employment prospects
At the end of the program, graduates get jobs in organizations such as:

• Russian and foreign commercial and non-profit organizations
• Russian and foreign consulting agencies
• Advertising agencies
• Russian and foreign banks
• State corporations
• Ministries and departments, government organizations
• Public organizations and funds
• Local authorities

In the field:

• Foreign economic activity and economic cooperation
• economic diplomacy
• Business analytics, consulting
• Marketing, brand management, sales organization
• Advertising, exhibitions, PR
• pharmaceuticals
• Automotive
• Fuel and energy complex
• Tourism and hotel business
• and etc.

Contacts:

Scientific supervisor of the program: Nozdreva Raisa Borisovna, Honored Scientist of the Russian Federation Professor Doctor of Economics, Professor of the Department of Management, Marketing and Foreign Economic Affairs Honorary Professor of MGIMO

Program coordinator: Member of the Faculty of International Business and Business Administration Sigaeva Elena Vyacheslavovna
Tel.: + 7 495 234-84-96
E-mail:

Form of study: full-time
Training period: 2 years.
Class start time: 14:15

Can do international business individual entrepreneurs, legal entities, state and corporate organizations.

Characteristics

International business is characterized by:

• lack of territorial restrictions for the conclusion of transactions;
• high economic efficiency without reference to the national characteristics of states;
• global coverage — the interaction of subjects is based on international legal and economic laws.

Forms

Export-import trade

Export is the sale of raw materials and products produced in the territory of one state to another for the purpose of further resale or processing. Import - the purchase of materials and goods manufactured by another state for sale or processing in the territory of one's own country. Export-import trade can be based on both the sale of goods and the provision of services.

Foreign investment

Direct financing of projects in the territory of other states. The funds invested make it possible to control industrial enterprises that have received financial support, companies and assets located in other countries.

signs

International business has the following features:

• Availability. International business relations are a good opportunity for companies to develop and reach a new level of development, even in the face of strict government regulation.
• Technological globalization. Modern communications allow, being anywhere in the world, to conclude transactions and control the process of fulfillment of obligations by business partners.
• Interrelation of national and international aspects. International business takes into account the national and cultural characteristics of all participants in financial relationships.
• Stepwise development. Each company that has begun to work within the framework of international business goes through the stages from foreign trade to the conclusion of transactions with multinational corporations.
• financial content. The purpose of international business is to make a profit.
• Competence. The success of the company depends on the ability of the management to use the methods and techniques in practice. effective work in its market niche.

Specialties that relate to the field of business and management traditionally occupy leading positions in the world rankings of the most prestigious professions. Accordingly, specialists in the field of business and / or management are the permanent leaders in terms of financial income.

One of the main advantages of business education is its relevance and relevance in the global market. Before successful businessmen and managers have the broadest prospects for career growth, and, in accordance with world rankings, it is easier for them to find a stable and well-paid job.

In domestic realities (we are talking about large corporations and leading brands), specialists who have foreign diplomas are especially highly valued in the labor market. In Western companies, the approach to doing business, innovation and analysis is very different from Ukrainian traditions. Therefore, a specialist who has knowledge of the rules for organizing business in the West is able to competently set the direction for the development of a domestic company or correct an already taken course. And such skills are highly valued by employers, including financially. It's no coincidence top management leading companies seeks to study abroad with internships in large Western structures.

Education in the field of business and management abroad can be implemented at several levels: business courses, undergraduate, magistracy. The choice of the level depends on the needs and possibilities of the student.

Internships and advanced training courses

Universities in many countries can offer foreign students not only undergraduate or graduate programs, but also short-term professional courses advanced training, at the end of which a certificate is issued.

These are the most economical programs. For a short time professional education abroad presents an opportunity to study the real experience of foreign specialists. Many professional development programs include field trips.

Internships are also possible - training in practice or internship and work abroad. A paid internship lasts from a year to a year and a half and is considered work in the process of which training and the exchange of professional experience take place. For students, this is a great opportunity to gain work experience before graduation. And most likely, when applying for a job, this particular line in the resume will become decisive.

Business-Oriented BBA Programs

Business and management programs provide an excellent foundation for obtaining an academic degree and a further career in business. In business education, as in any other, the first step is the Bachelor of Business Administration(BBA) in areas such as commerce (Commerce) and business management (Business administration).

The curriculum of the program covers a wide range of major functional areas of the specialty, namely: management, organizational behavior, accounting, finance, marketing, sales, operations management, information technology, law, human resource management. Students learn the basics of economics and quantitative analysis.

At the same time, the curriculum has a pronounced practical orientation. It promotes individual improvement through the development of skills such as decision making, teamwork, leadership, negotiation, communication and presentation.

The average duration of study in the BBA program may vary, but more often it is 3-4 academic years.

Program BBA is an independent initial stage of professional education or is included in the framework of continuing education and can be considered as a preparatory stage for a higher level - obtaining an MBA (Master of Business Administration) degree - Master of Business Administration.

At this stage, students gain knowledge in such areas as enterprise management, personal and human resource management, marketing, law and others.

Requirements for admission to the BVA

Graduates of secondary general education schools who do not have the appropriate qualifications and sufficient practice in the field of management and management. The BBA program can also be considered as a post-graduate education, i.e. based on previous higher education.

If we are talking about education abroad, today it is much more cost-effective to get a bachelor's degree in native land, and to go to overseas lands for postgraduate programs, for example, for an MBA degree.

MBA - sounds proud. And promising

Most of the board members of companies have an MBA degree. Of course, yesterday's graduates are unlikely to be immediately offered a job leadership position in the management of the company. Although such options are possible if it is a non-profit organization or a developing startup. But over time, you will definitely earn the position of CEO (Chief Executive Officer), literally - chief executive officer or other senior official companies ( CEO, chairman of the board, president, director).

In terms of lines of business, if you have a Master of Business Administration (MBA) degree, your options are virtually unlimited. You can do almost anything you want. An MBA holder is a desirable candidate for most employers.

"The career prospects for MBA applicants are promising," the Graduate Management Admission Council said in a report. GMAC is an organization that brings together the world's leading business schools, as well as the owner and administrator of the GMAT (The Graduate Management Admission Test) - the first and only standardized test designed specifically for business schools today.

The reason for this, according to GMAC, will be a change in the priorities of employers. The main goal in the new year for many respondents will be to increase productivity. Graduates of business schools are trained to cope with such tasks, the respondents are convinced.

According to two of the largest GMAC surveys, 74% of employers surveyed indicated they plan to hire professionals with degrees in business administration. In addition, 22% of employers said they are going to expand the range of vacancies for graduates of these qualification programs.

Another study of the dynamics of global labor markets, conducted earlier by TopMBA.com with a larger sample, including a survey of 12,100 companies from 42 countries, also showed a 36% increase in demand for specialists with an MBA degree.

The data obtained only confirms the recent trend towards hiring specialists with an MBA degree - this allows many companies to maintain their competitiveness in the face of a tightening economic situation. Accordingly, the number of those wishing to enroll in business administration programs will also increase. Therefore, if you are aiming for the maximum in your future career, the MBA is for you.

Studies show that 78% of business school graduates decide to get a business education while working as a middle or senior manager. 18% enter the MBA while still working as line specialists. Thus, managers who are set up for a successful career plan it from the very first steps. And only 4% of those who entered the MBA program are business owners.

Where to get a business education

According to BusinessTimes, there are about 10,000 business schools in the world today. In the rankings of the most prestigious schools in the world, institutions in the USA, Canada and Europe are in the lead, although Asian schools have also begun to appear recently. educational establishments.

The cost of an MBA in business schools

In institutions included in the TOP-25 best schools world, the cost of education is approximately 35,000-50,000 dollars per year (not including the cost of accommodation, meals, transfers, medical insurance and educational materials). Therefore, a two-year MBA program will cost an average of about $100,000.

At universities and mid-level business schools, the cost of a year of study is 15,000-20,000 euros for Europe and 20,000-25,000 dollars in the USA.

Requirements for applicants for an MBA degree

University Diploma;

Level in English IELTS 6.5 - 7.0;

2-3 years of experience in a high responsibility position;

Age over 21 years old.

The duration of the MasterofBusinessAdministration program is 1-2 years.

Who is leading in the field of international business education today

The world leaders in MBA education - the USA are gradually losing ground. One of the main trends of the last five years has been a decrease in the number of Europeans who send documents and GMAT test results to American business schools.

The reason for the decline in interest is the high cost of US business school programs. For example, the cost of a two-year course at one of the best business schools in the United States, Stanford Graduate School of Business, is more than $150,000. For comparison: the cost of studying at one of the leading business schools in Canada, the Richard Ivey School of Business at the University of Western Ontario, which has the best rates average salary graduates (more than 100 thousand US dollars according to the FT) is 90,000 CAD (the duration of the program is 17 months). The cost of studying for intermediate level programs is from $ CAD 24,000 per year. Today MBA programs and EMBAs from Canada's business schools are top priorities for students from many countries. There are several reasons for this.

First of all, a significant increase in the quality of the business programs themselves in Canada and their recognition at the global level. Today, about 10 Canadian business schools feature in the latest Financial Times ranking of the world's best MBA schools.

Another reason why more students choose Canada is its flexible visa rules: while the US and the UK are tightening visa rules, Canada, which is also an English-speaking country, is taking steps to simplify the visa procedure.

In addition, at a time when the UK intends to abolish the two-year work permit for foreigners after graduation, many Canadian states are trying to attract qualified specialists from among international students.

A targeted government program to attract foreign students and the actual policy of Canadian business schools have led to a clear increase in interest in MBA programs in Canada from applicants from other countries.

Specialty "International Business"

The more companies enter the world market, the more professionals are required who can do business at the international level, who thoroughly know the conditions of international activity, the system of foreign economic regulation, international Management and marketing. In the age of globalization, one of the most popular specialties has become the specialty "International Business".

The specialty "International Business" is among the top five most promising professions, which in the near foreseeable future are designed to provide their owners with not only interesting work, but also a high income.

One of the important advantages of studying abroad in the specialty "International Business" is the learning strategy, which in almost all Canadian universities provides for the inseparability of theory from practice. This is reflected in the use of such forms of training as structured discussions, business games, trainings, master classes, and case studies. Practicing major specialists from among top and middle managers are necessarily invited to give lectures.

Already at the very beginning of training, literally from the first courses, part of the practical training takes place at enterprises or in companies. To improve the qualifications of students, universities send them to participate in international competitions and programs, as well as organize internships in other countries.

What is taught

Students in the specialty "International Business" study the following major disciplines:

• customs regulation of export-import operations
• business planning in foreign economic activity
• business plan as a model of an investment project
• international economic cooperation
• international financial relations
• joint venture
• entrepreneurial risks
• international trade
• international trade in services
• international transport operations
• international Business
• international information business
• international marketing
• strategic management
• logistics
• international competition
• and etc.

In addition to these disciplines, each university also teaches its own subjects that determine the profile of specialization. This is the so-called “university component”, which is determined by the university itself. The choice of “university components” reveals the specificity and spirit of a particular educational institution.

For example, several political science disciplines are introduced into the specialty curriculum, such as Canada's Foreign Economic Policy.

After graduation

Students of the specialty "International Business" after completing their undergraduate studies can either continue their studies in the magistracy at the same faculty under the program of specialization "International Business". Or enroll in MBA programs in the chosen country or partner universities located in other countries, such as the USA, Great Britain, Canada, Czech Republic, Poland, Sweden, France, Australia, New Zealand and others.

The diploma program is mainly applied in nature and provides an opportunity to work in not too high managerial positions in such areas as marketing, accounting, personnel management, etc. It is valuable that the specialty "International Business" does not prevent graduates from getting a job not only in international, but also in domestic companies - large and small.

If you are interested business education abroad or come company - our consultants will answer all your questions!

Form of study: full-time, only paid places

Duration of training: 2 years (120 ECTS)

Diploma: master's degree in "management" of the state standard

Teaching language: English

Classes are held in the evening format (usually 3 weekday evenings per week and Saturday)

The Master of International Business (Master of International Business) trains specialists-generalists who understand how international companies and in what global economic, political and cultural environment they operate. MIB is aimed at motivated students who wish to pursue an international career in corporate business, government organizations or start your own company.

A wide and varied set of courses allows students to gain knowledge in a variety of areas of business and international relations, and the availability of elective courses gives flexibility in drawing up their own educational trajectory. The best academic teaching staff is involved in the International Business program.

The program is practice-oriented: most of the courses are taught by top managers of international companies. MIB Business Partners organize numerous master classes and also offer projects for the Business Consulting course.

MIB students have access to double degree programs, as well as participation in international academic mobility. The structure of the program is available.

Program Benefits

The main advantage of the program is its practical orientation:

• thanks to the evening format of training, students can combine work with study;
• most courses in the program are taught by leading international business practitioners, enriching educational process personal examples and business cases;
• in the first year of study, students carry out a real consulting project for a company - a partner of the program;
• in the learning process, students are offered many master classes, case studies and seminars conducted by top managers of international companies;
• practical work experience is desirable for training, but this is not a prerequisite for admission;
• business partners of the program provide places for internships and internships;
• valuable knowledge and skills about the possibilities of successful career building are acquired by students on the Career Development course;

Program partners

Business partners

Business partners of the program conduct master classes, trainings, and also participate in student consulting projects. Program partners include: PricewaterhouseCoopers; Baker & McKenzie; Kimberly-Clark Corporation; SC Johnson; Roche & Duffay; Mondelez International; METRO Cash and Carry; Michelin etc. etc.

Partner Universities

Employment of graduates

Graduates of the "International Business" program are managers, executives, consultants and strategists of international companies, their branches and foreign representative offices.

The combination of the competencies of a manager, a political scientist and an economist gives graduates a competitive advantage over their colleagues in the profession, including foreign ones, already at the start of their professional career.

Graduates master's program"International Business" will have the following competencies:

• Analyze the domestic and foreign market;
• Assess the political and economic opportunities and risks of doing business in individual countries and regions;
• Manage corporate finances and make investment decisions;
• Get to know the business cultures of the world and gain leadership skills business negotiations;
• Understand the specifics of doing business in the political, legal and socio-cultural contexts of various countries;
• Find and evaluate new market opportunities, form and evaluate business ideas, develop business plans to create a new business;
• Choose the right marketing strategy, effectively use marketing and advertising tools;
• Manage projects of consulting work with the client;
• Solve strategic planning problems and choose the best corporate strategy;
• Implement business internationalization projects;
• Understand the role of international political and economic organizations in the activities of international companies;
• Identify, analyze and present the data needed to carry out a study or project.

Graduates and students of the program work in companies such as:

Accenture
PwCp
Heineken
Danone
Ernst&Young
Henkel
Toyota
JTI

Standard Chartered Bank Dubai
Procter & Gamble
KPMG
L'oreal
Mars
Michelin
Nike
Pernod Ricard

Burger King
Raiffeisenbank
Kraft Foods
Uber Technologies Inc.
Vogue
Yandex
Huawei
Fater

international Business- this is the economic (entrepreneurial) activity of an international company, based on the advantages of the international division of labor and the processes of internationalization of production and capital in order to maximize profits.

The importance of international business is extremely high - up to 90% of the export of capital and world trade, including 86% of trade high technology falls to the share of business structures - participants in this process; they control about 55% of all types and varieties of assets.

International business - a complex contractual system of interrelated diverse forms, types and varieties of entrepreneurial activity with the participation of foreign partners, subject to a clear delineation of rights, obligations, obligations and requirements for entities; they cover all areas and sectors of the economy. Applied types of production and economic relations between the subjects have a strict and clear criterion verified classification. This form of entrepreneurship is distinguished by the originality of goals, objectives, mechanisms, structure and functions, as well as a clear contractual and legal basis for business relations between partners.

Fundamentally important in the concept of international business as a type of activity is the breadth of the concept. Business is not only production and its organization, including planning and provision, it is not only marketing activities, including advertising and pricing policy, this is not the management of an international company and financial support - it's all in the complex.

Business is a qualitatively different type of activity in comparison with its components. Due to the complexity of business activities, as well as the responsibility of entrepreneurs for the result of the business as a whole, the problems of organizing a business are not so much in the development of individual aspects, but in the careful coordination of the entire complex: production, supply, marketing, management, information support, technical policy and financing. At the same time, for the majority of international companies, due to the main "deficit" in the conditions of the world market - limited financial resources - the issues of mobilizing and using financial resources are of paramount importance.

To the generic features of international business should include:

• ? exchange of activities between subjects of international economic relations;
• ? the desire of each participant in the exchange of activities to realize their interests, regardless of whether the interests of counterparties are realized in this case or not;
• ? the desire to impose their interests in the event that counterparties refuse to accept conditions that do not suit them business communication(transactions);
• ? manifestation of personal or collective initiative in the process of preparing and conducting a transaction;
• ? the ability and willingness to take personal (or collective) risk in order to conduct a transaction on favorable terms;
• ? ability, willingness and ability to various tricks business communication, pursuing the goal of achieving the greatest benefit;
• ? the ability to take alternative steps in different directions in order to ensure vantage point for the subsequent conduct of selected methods of business communication;
• ? the ability to differentiate the probable and actual results of transactions, determine the priorities of activities and subordinate them to the logic of business communication.

Strategic goal international business - maximizing the value of the business (income, profit) in the process of implementing various international transactions.

tactical target- implementation of this strategic setting in relations with each specific counterparty on each occasion using specific conditions for implementation, terms and subject of the transaction.

International business is system, covering the totality of counterparties of international economic relations and integrating their activities into one whole.

The subject of international business all elements of production relations come into play, primarily direct producers and their industrial and commercial groupings. It is advisable to analyze the functioning of the latter in conjunction with the study of their system economic interests as incentives for the expansion and deepening of international relations in production. The subjects of international business are state structures in cases where they act as direct participants in transactions (providing government orders to entrepreneurs, determining prices, the composition of benefits in the implementation special works and etc.). State structures, along with international economic organizations, may also have an indirect impact on the subjects of business relations, being guarantors of the implementation of legitimate business.

The main aspects of motivation, that encourage an international company to carry out international business are:

• ? expansion of sales (profit per unit of production can increase as sales are carried out abroad);
• ? acquisition of resources (the use by manufacturing companies of the necessary types of products and services, semi-finished products, components and end products in other countries);
• ? diversification of sources of supply and distribution (elimination of fluctuations in the level of their sales and profits due to suitable foreign markets, as well as due to the mismatch of economic cycles in different countries peace).

The international business system has the necessary system properties ( integrative qualities of the system), thanks to which these relations are a holistic formation. The main integrative qualities of the international business system are:

• a) socio-economic sovereignty all subjects of business relations, regardless of their functional role in the business system;
• b) consensus interests of all subjects of business relations.

Subject sovereignty business relations means that the legitimate activities of these entities are under the protection of the authorities and administration of the state and no other entity has the right to interfere in it and forcibly impose its own conditions for transactions. However, sovereign subjects of business relations do not have complete independence from their counterparties, and if they have freedom in making decisions and conducting them, then we must not forget that this freedom has a certain scope for implementation, due to the desire of each of the subjects of business relations to preserve and reproduce their own sovereignty .

Consensus of Interest means in the system under consideration the mutual obligations of all participants in business relations not to violate the sovereignty of their counterparties. Such obligations are not accepted directly by the participants in transactions when they are concluded - they are formed in the process of development and constant reproduction of business relations on the basis of mutual benefit of the parties and constitute required condition business systems.

The sovereignty of the subjects of business relations and the consensus of interests of these subjects determine each other. Contradictions between entrepreneurs should not lead them beyond the existing public consensus of interests, become an interstate problem and become hopeless.

International business as a systemic phenomenon has its own internal impulses for development ( competition), provisioning and playback system ( direct connections of subjects of business relations), infrastructure (stock exchanges, banks, information systems, consulting and audit companies, educational institutions, etc.) control system ( management), a system for studying counterparties (marketing), performance evaluation system (money).

Forms of doing international business include trade in goods and services, transportation, licensing, franchising, turnkey projects, management contracts, and direct and portfolio investments. They (forms of international business) are characterized by international business processes occurring in the world economy and arising in the field of international economic relations (business relations).

The process of globalization of the world economy reflects characteristics inherent in international business, which is carried out in accordance with projects aimed at resolving global problems modernity - providing resources, protecting environment, construction of intercontinental communications, infrastructure facilities of regional importance, etc., which requires international association.

What should we understand by the term "globalization"? Is the current globalization a direct continuation of the internationalization of capital, the beginning of which is attributed by the French historian F. Braudel to the 16th-17th centuries and which he called the process of creating a “world economy” around some centers of the formation of European capitalism (Genoa, Holland, England)? Or is the current internationalization something fundamentally new? So, in particular, T. Levitt designated with this word the phenomenon of merging markets individual products produced by large international companies. The Japanese K. Ohmae believes that the economic nationalism of individual states has become meaningless, while “global firms” are acting as strong actors on the economic stage. The Frenchman B. Badi identifies three dimensions of this concept: 1) globalization is a historical process; 2) globalization means the homogenization of the world; 3) globalization is a growing interdependence.

And although the problem of “globalization” is still debatable, each of the stated points of view has the right to exist, since we are talking about several really important processes: the internationalization of the economy; development unified system world communications; changing and weakening the function of the nation state; revitalization of the activities of transnational non-state entities.

Globalization means drawing the whole world into an open system of financial, economic, socio-political and cultural ties based on the latest communication and information technologies.

Hence, the process of globalization is comprehensive. Its various facets are included in the study of almost all social disciplines. Concerning economic science, then it focused its main attention on five areas: financial globalization (global financial markets); formation and functioning of global international companies; gradual change of the process of regionalization of the global economy by multi-layered, multi-network structures of trade relations; globalization of markets for goods and services (growth and transformation of international trade); convergence trend, globalization of science and technology, globalization of labor.

Yes, the result financial globalization, interdependence of financial markets, are five major developments.

First of all, this is the termination of state regulation of financial markets in most countries and the liberalization of foreign transactions.

Secondly, it is the development of technological infrastructure.

Thirdly, this is the emergence of new financial products, such as secondary securities (futures, options, swaps, etc.).

Fourth, speculative movements of financial flows, which today are rapidly moving from market to market, from one security or currency to another.

Fifth, they are market potential firms, such as Standard Poor or Moody's, which are trying to establish common rules for all markets in the world.

Thus, capital is created from capital and the nominal value rises. The consequence of this process is the increasing concentration of value and the creation of value in financial sector, in a global network of capital flows driven by networks information systems and their support services. The globalization of financial markets is the backbone of the new global economy.

The subject and driving force of globalization processes are industrialized countries, international companies based there and world financial centers.

The essence of globalization lies in the fact that the number of subjects of international relations has increased, while earlier, in the era of international relations proper, all ties necessarily passed through the national state. Now, in addition to states, international governmental and non-governmental organizations, international companies, even individuals have entered the international arena. In connection with the multiplicity of global actors, the question arises: how to regulate their actions in the interests of all inhabitants of the globe? Apparently, on the basis of universal ethics and morality. Suppose, in the economic field, all merchants, all entrepreneurs adhere to the same rules of conduct in their activities, based on a single idea of ​​honor, dignity, justice, etc. Then the norms of entrepreneurial ethics themselves form a reliable regulator of commodity relations, which significantly reduces transaction costs.

Basis for globalization a new infrastructure based on modern information technology and telecommunications, as well as a policy of liberalism pursued by governments and international institutions.

In the visible future, globalization will entail: the unification of regulation and control over markets; improving access for all participants to any markets; standardization of requirements for the movement of capital, the investment process and the global payment and settlement system; intensification of integration regional processes; opening of closed banking systems. There are suggestions that there is movement towards the universalization of the currency and the creation of a single capital market.

Thus, the global economy is a new historical reality, different from the world economy. World economy is an economy in which capital accumulation occurs throughout the world. The global economy is a completely new phenomenon, it is an economy in which the key components have the institutional, organizational and technological capabilities to work as a whole in real time or at some selected time on a global scale.

• Braudel F. Civilization materielle economique et capitalisme. T. III. Paris, 1979.
• Ohmac K. The Bordless World: Power and Straftegy in the Interlinked Economy. Fontana, 1990.
• Badie B. La fin des territories. Paris, 1995.