KEF School of Economics opens admission for students of provincial universities


The KEF School of Economics for students of provincial universities is conducted by BEROC Economic Research and Outreach Center jointly with IPM Research Center with the assistance of IPM Business School.

The School’s objectives are to improve the knowledge of students of provincial economic universities, forge local communities of students interested in economy, and enhance the understanding of Belarus’s economy among the youth. 
The students will have an opportunity to take courses on micro- and macroeconomics as well as econometrics, and to improve their knowledge of Belarus’s economy. The School’s faculty includes Alexander Chubrik and Igor Pelipas of IPM Research Center – the leading independent experts on Belarus’s economy; and Victor Arshavski and Lev Lvovski of BEROC Economic Research and Outreach Center pos-sessing PhD’s in Economics of the world leading universities. 
Please, see the more detailed information about the School below.
The School’s courses will take place via video conferencing in all oblast centers of Belarus (IPM Business School Oblast Offices) from 6pm to 9pm from January 22 to February 2, 2018. The lectures will take place in the course of 10 days (each weekday during January 22-26 and January 29-February 2) by 4 aca-demic hour increments per day. The final group discussion will take place February 3 (Saturday) in Minsk. Travel costs to Minsk will be covered. The students who have completed all courses and success-fully passed the final exam will receive graduation certificates.
Russian is the working language of the School. The students who have successfully passed the admission competition will be provided a grant completely covering training costs under the condition of attending not less than 80% of classes. 
The applicants shall comply with the following requirements:
  • being a senior-track (3-5 year) student of a provincial higher educational establishment of Belarus at the time of application;
  • possessing English knowledge sufficient to read course materials;
  • possessing high average grade (not less than 7.5 on the 1-10 scale).
Economy major shall not be a mandatory requirement for student enrollment in the School.  We welcome applications from students of non-economic majors (in particular, students of mathematics and physics departments).
The applications can be submitted via BEROC website ( until January 5, 2018.  Admission competition results will be announced by January 12, 2018.
School Curriculum
1. Statistics and econometrics (by Igor Pelipas, PhD Econ.) 
  • Introduction to temporal series econometrics: key concepts and analytical methods;
  • Econometrics in action: analysis of monetary targeting empirical basis in Belarus.
2. Macroeconomics (by Lev Lvovski, PhD) 
  • What is macroeconomics? The main fields of study, postulates and the global macroeconomic situation;
  • Money and financial system fundamentals. What is money and why we need it? Financial system functions and the role of financial institutions in responding to asymmetric data challenges;
  • Macroeconomic balance model, aggregated demand and offer;
  • Fiscal policy, international trade;
  • Externalities, the fundamental macroeconomic theorem, taxing basics;
  • Functions of the state and economic inequality.
3. Microeconomics (by Victor Arshavski, PhD) 
  • What is the scope of microeconomics? Resource limitations and trade-off choice, comparative advantages, alternative costs; 
  • Supply and demand theory. Effects of taxing and other forms of state intervention. Elasticity;
  • Types of market frameworks: perfect competition, monopoly, oligopoly.  Price discrimination, anti-trust legislation, regulation of natural monopolies.
4. Economy of Belarus (by Alexander Chubrik) 
5. Group discussion (final School day in Minsk) – designing reforms for Belarus’s economy.

The event will take place within the framework of the “Development of the Kastryčnicki Economic Fo-rum” Project – an open-dialogue platform to review the potential avenues of economic reforms in Belarus aimed at more effective and inclusive civil participation in economic policy- and decision-making on na-tional and sub-national levels. 
 The project is funded by the European Union