Smolny Beyond Borders

A Liberal Arts Initiative

War Shocks and Economic Development



Course Schedule:

Nov. 9 – Nov. 23 | Wed. 15:00-18:00 UTC & Sat. 9:00-12:00 UTC

The course is intended to discuss how economies are affected by wars. It is expected to consider the economic and social consequences of military conflicts for the countries engaged in them, both in the short and long run. Students will be introduced to several profound writings on the macroeconomic dimension of war shocks, from Keynes’s (1940) “How to Pay for the War” to the contemporary blueprint for the recovery of the Ukrainian economy, proposed under the auspices of CEPR. We will examine policymaking strategies in Russia and Ukraine to mitigate wartime macroeconomic imbalances. Besides, the course aims to provide a framework for analyzing post-war economic development, which implies a long-run footprint. With a primary application to Ukraine, we will cover the problems of compensating physical and human capital losses, boosting infrastructural investment, and upgrading the institutional environment. Overall, the course might be worth attending for anyone interested in overcoming severe economic distress caused by the ongoing war.

Prerequisites, Requirements and Certificate

For students to be enrolled, the completion of at least Introduction to Economics is a necessary prerequisite. Familiarity with the general economics sequence (Micro- and Macroeconomics) at an undergraduate level is highly desirable. Although the course is taught in Russian, students should also be comfortable reading various papers and books’ fragments in English.  

Course grading will be based on two short quizzes to be held in the second and third weeks of the course on the Brightspace online learning platform. To pass the course and obtain a certificate, a student has to collect at least 40% on each quiz.

Maximum group size – 25 participants.
Registration to this course is closed.