Economic Cybernetics

"Economic Cybernetics" is a modern prestigious profession. It is focused on information systems in the management of economic subjects and in the making of managerial decisions based on computer modeling of economic systems and processes, the use information technologies

    The training of students in "Economic Cybernetics" is based on:
  1. general economic education;
  2. in-depth training in the computer modeling of economic processes;
  3. the study of modern information systems and technologies.

In his professional activity a specialist in "Economic Cybernetics" is capable of using modern mathematical methods and models, information systems and applied software products. He has a deep knowledge of the economy and excellent computer skills.

    He has the following abilities and skills:
  • ability to find information necessary for the modeling of economic objects and processes, verify it and use it for building of economic and mathematical models;
  • ability to build economic and mathematical models considering the development of systems;
  • ability to use the software, which makes it possible to realize models on computers;
  • ability to interpret the obtained results and on their basis make managerial decisions for all levels of economic hierarchy;
  • ability to carry out systemic analysis of economic systems, develop the software for managerial decisions of complex economic systems;
  • possess the necessary skills for working with electronic payment systems; prepare payment documents for automated processing;
  • ability to analyze and manage systemic risks; provide technical and economic substantiation for information systems’ projects, assess their efficiency;
  • ability to conduct dealing operations; give estimates of the main parameters of currency agreements; analyze and manage risks during the realization of dealing operations;
  • ability to realize computer networks projects with the use of modern software complexes; to choose the conditions for data transfer;
  • ability to project structured cable networks; analyze the quality of computer networks’ functioning; carry out networks’ re-engineering;
  • ability to manage informatization projects by using modern theoretical basis and software instruments;
  • ability to take into account changes of the money value in time; to use the theory of simple and compound interest;
  • ability to take into account inflation; to assess the rate of return at different frequencies of interest calculation;
  • ability to use the technique of discounted money flows for the assessment of investment projects;
  • ability to calculate payment flows, considering the rate of return and the probability of payment;
  • ability to assess the volume of liabilities for standard contracts of life insurance and pension annuities, using these data for the calculation of tariffs, reserves and conditions for early termination of contracts.

The Chair of "Economic Cybernetics" has its internal website, a functioning scientific circle, a SISCO Networking Academy of the Cisco Systems Company - the world leader in the production of networking equipment, a class-room for dealing operations with information terminals from Thomson Reuters Eikon, a Microsoft Dream Spark program, which allows students and lecturers to use the licensed software of Microsoft, including Windows, Visual Studio, Project, Visio and other products on their personal computers.

Our students receive the same general economic training as students of other economic specialities including: microeconomics, macroeconomics, international economics, regional economics, business administration, statistics, management, marketing, money and credit, finance, accounting, etc. It enables the students to carry out the modeling of economic processes, primarily in financial management, management and marketing.

The students have a profound understanding of the following:

  • understanding of the methodology, which allows to construct, analyze and use adequate mathematical models for economic processes; goals, tasks and specific features of mathematical modeling for economic systems, major stages of modeling, methods of constructing forecast data for economic processes.
  • Understanding of the methodology of the system analysis of economic subjects, modern software, which provides the analysis of economic systems.
  • Understanding of theoretical positions, practical approaches and modern instruments for the management of informatization projects, essence of corporate information systems, which are built on the basis of the concepts МRP, МRPII, ЕRP, CSRP; models of file-server and customer-server technologies; technologies for the creation of complex systems; methods and models of management of logistical processes, the notion of controlling as an instrument of management, characteristics of the main structural components of the modern corporate information systems.
  • Understanding of the modern technologies of computer networks, protocols of data transfers, methodology for the creation of structured cable systems, standard models of computer networks, methodological and technical aspects of computer networks projection.
  • Understanding of the principles of payments systems; conception, functioning principles, structure and technical characteristics of the modern electronic payment systems; methods and technologies of payment systems security; methods of payments in inter-bank payment systems.
  • Understanding of the architecture, equipment and software of modern dealing information systems; organization of dealing operations on the stock market and inter-bank market.
  • Understanding of the methods and processes to evaluate the efficiency of creation and functioning of information systems.
  • Understanding of actuarial work; basic notions and methods of the probability theory and mathematical statistics; determination of insurance rates in life insurance and risk insurance; main formulas in the theory of compound interest; elementary interest rate stochastic models; formulas for assessing the value of insurance annuities; correlation between the annuities value and payments on life insurance; bankruptcy models of insurance companies; dependency of financial indicators on the relationship between the basis used for tariffs calculation and the basis used for reserves calculation.

A graduate can work as director of a small enterprise, director of a commercial firm, director of a firm specializing in information technologies, administrator of databases, data administrator, task administrator, system administrator, analyst of computer communications, analyst of computer systems, analyst of computer data bank, engineer of computer systems, engineer of computer software, developer of computer systems, programmer, system programmer, computer engineer, consultant on efficiency of enterprises, computerization expert, specialist of state authority (computerization services), economist, economic advisor, specialist in accounting and analysis of economic activity, specialist in statistics, financial specialist.