WorldClass Economics Education and Research in Ukraine KSE

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World-Class Economics Education and Research in Ukraine

World-Class Economics Education and Research in Ukraine

KSE founders: • Economics Education & Research Consortium (EERC) • The Victor Pinchuk Foundation

KSE founders: • Economics Education & Research Consortium (EERC) • The Victor Pinchuk Foundation

KSE contributors Core Sponsors: • • • Eurasia Foundation Victor Pinchuk Foundation Open Society

KSE contributors Core Sponsors: • • • Eurasia Foundation Victor Pinchuk Foundation Open Society Institute Swedish Ministry for Foreign Affairs Swedish Agency for International Development (SIDA) The Global Development Network Scholarships and Other Support Providers: • • Citigroup Foundation Concorde Capital Dragon Capital Finnish Embassy to Ukraine Kytasty Foundation SEB Bank Swedbank EERC/KSE Faculty

KSE MA Program As an international consortium of donors, 12 years ago, in Kyiv,

KSE MA Program As an international consortium of donors, 12 years ago, in Kyiv, EERC created the western-standard Master’s Program in Economics, similar to other schools, also created by international donors: • Center for Economic Research and Graduate Education (Prague) • Central European University (Budapest) • New Economic School (Moscow)

KSE MA mission • To create a new generation of economists • To create

KSE MA mission • To create a new generation of economists • To create a sustainable local capacity for economic research and education

KSE International Advisory Board • • Professor Robert Baldwin, University of Wisconsin, USA Professor

KSE International Advisory Board • • Professor Robert Baldwin, University of Wisconsin, USA Professor Charles Becker, Duke University, USA Professor Irwin Collier, Freie Universitat Berlin, Germany Professor Paul Gregory, University of Houston, USA Professor John Earle, Central European University, Hungary Professor Peter Kennedy, Simon Fraser University, Canada Professor Larysa Krasnikova, Na. UKMA, Ukraine Professor Joseph Pelzman, George Washington University, USA • Professor Mark P. Taylor, Global Market Strategies Group, UK • Professor Jürgen Wolters, Freie Universitat Berlin, Germany

KSE Board of Directors • Victor Pinchuk, Honorary Chair • • • • Max

KSE Board of Directors • Victor Pinchuk, Honorary Chair • • • • Max Alier, International Monetary Fund Anders Aslund, Co-Chair; Peterson Institute for International Economics Tom Coupe, Ex officio, KSE Richard Ericson, Chairman of the Research Network IAB; East Carolina University Paul Gregory, Chairman of the KSE IAB; University of Houston Sten Luthman, Swedish Ministry of Foreign Affairs Hryhoriy Nemyria, Vice Prime Minister for Foreign Affairs William Newton-Smith, Open Society Institute (OSI) Gerardo della Paolera, Global Development Network Leonid Petukhov, Geo Alliance Concern Irina Paliashvili, RULG-Ukrainian Legal Group, P. A. Regina Yan, Co-Chair; Eurasia Foundation Yuriy Yekhanurov, Ukrainian Presidential Secretariat

KSE VIP-persons • The Honorary Chairman of the Kyiv School of Economics: Victor Pinchuk

KSE VIP-persons • The Honorary Chairman of the Kyiv School of Economics: Victor Pinchuk • Co-Chairs of the KSE Board of Trustees: Anders Åslund (Peterson Institute for International Economics) and Regina Yan (Eurasia Foundation) • KSE Director: Tom Coupé

The Kyiv School of Economics is • an internationally recognized Centre of Excellence that

The Kyiv School of Economics is • an internationally recognized Centre of Excellence that ranks with the best schools in Central and Eastern Europe • competitive on the world market, in both economics education and research • a school that produces the future generation of economists in the region. • financially stable: in addition to support from international and local donors, the Victor Pinchuk Foundation has committed to support KSE with 10 million dollars for 10 years.

KSE offers students • KSE offers 2 MAs: MA in Financial Economics and MA

KSE offers students • KSE offers 2 MAs: MA in Financial Economics and MA in Economic Analysis • KSE provides unique training in economics modelling and analysis • All classes taught in English • An academic curriculum modelled on the best economics and financial economics graduate programs in North America and Western Europe • A joint program with the University of Houston that provides KSE students with a master’s degree in economics accredited in the US

KSE offers students • Active partnerships with foreign educational and research institutions (Stockholm School

KSE offers students • Active partnerships with foreign educational and research institutions (Stockholm School of Economics, Norwegian Institute of International Affairs, CERGE-EI, Prague and many others) • Opportunities for internships at the best Ukrainian companies, government structures and international institutions • Unmatched access to economics literature, Western textbooks, statistical databases, econometrics software, and modern computing facilities

Why is KSE different? • Hard Work • Modern, Advanced Economics • Western-trained Faculty

Why is KSE different? • Hard Work • Modern, Advanced Economics • Western-trained Faculty

What is special about KSE? • KSE faculty include experienced Western and Western-trained professors

What is special about KSE? • KSE faculty include experienced Western and Western-trained professors (with Ph. D. degrees from abroad, great teaching experience and publications in international journals) • KSE invites top professors to teach at the program or visit the program to give a public and academic lectures

Why is western-trained faculty important? • • Best Guarantee for ‘Modern’ economics Best Guarantee

Why is western-trained faculty important? • • Best Guarantee for ‘Modern’ economics Best Guarantee for international approach Best Guarantee for quality education Best Guarantee for quality research

KSE professors Full-time faculty (name, degree, university where degree was obtained): • • •

KSE professors Full-time faculty (name, degree, university where degree was obtained): • • • Elena Besedina, Ph. D. , Bocconi University Tom Coupé, Ph. D. , Free University of Brussels Olena Nizalova, Ph. D. , Michigan State University Denys Nizalov, Ph. D. , Michigan State University Pavlo Prokopovych, Ph. D. , University of Michigan Oleksandr Shepotylo, Ph. D. , University of Maryland at College Park Hanna Vakhitova, Ph. D. , University of Kentucky Volodymyr Vakhitov, Ph. D. , University of Kentucky Olesia Verchenko, Ph. D. , University of Virginia Valentin Zelenyuk, Ph. D. , Oregon State University

KSE professors Visiting professors (name, affiliation): • • • Roy J. Gardner, Indiana University

KSE professors Visiting professors (name, affiliation): • • • Roy J. Gardner, Indiana University Iikka Korhonen, Helsinki School of Economics and Business Administration Lilia Maliar, University of Alicante Seguei Maliar, University of Alicante Aaron Mehrotra, Economist, Institute for Economies in Transition/ Bank of Finland (BOFIT) Arne Melchior, NUPI Topi Miettinen, Research Fellow, Stockholm School of Economics (SITE) Bent Sorenson, University of Houston Robert Swidinsky, University of Guelph Matti Viren, Professor, University of Turku

KSE professors Part-time faculty, residing in Ukraine (name, degree, university where degree was obtained;

KSE professors Part-time faculty, residing in Ukraine (name, degree, university where degree was obtained; affiliation): • Larysa Krasnikova, Candidate of Economic Sciences, Institute of Cybernetics; Na. UKMA • Irina Lukyanenko, Doctor of Economic Sciences, Kyiv National Economic University; Na. UKMA • Edilberto Segura, MBA, Stanford University and Ph. D. , Columbia University; Sigma. Bleyzer • Volodymyr Shportyuk, Candidate of Physical and Mathematical Sciences, Kyiv State University; Na. UKMA

KSE curriculum First Year Courses: • Macroeconomics • Mathematics for Economists • Microeconomics •

KSE curriculum First Year Courses: • Macroeconomics • Mathematics for Economists • Microeconomics • Statistics and Econometrics

KSE curriculum Second Year Courses: MA in Financial Economics MA in Economic Analysis •

KSE curriculum Second Year Courses: MA in Financial Economics MA in Economic Analysis • Monetary Economics • Issues in Financial Economics and Strategy (Top Professors Course) • Theory of Corporate Finance • Financial Economics I • Emerging Capital Markets • Financial Economics II • Issues in Financial Economics • Money and Banking • International Finance • Research & Economic Policy Analysis Workshop • Thesis Workshop • Public Economics I • New Economic Geography • Issues in Financial Economics and Strategy (Top Professors Course) • Economic Policy Analysis I • Labor Economics I • International Trade I • Issues in Microeconomics I: Information Economics • Advanced Macroeconomics I • Industrial Organization I • Economics of Europe • Game Theory • Demography and Transition • Research & Economic Policy Analysis • Thesis Workshop

Tuition at KSE The tuition fee at the Kyiv School of Economics is Euro

Tuition at KSE The tuition fee at the Kyiv School of Economics is Euro 3, 000 per student per year. For Ukrainian Students: • For the first year of studies (2010 -11 academic year), KSE provides: • 10 full first-year scholarships covering the full first-year tuition fee of the top 10 students based on the admission exams • 20 partial first-year scholarships covering half of the first-year tuition fee (i. e. Euro 1, 500) of the students ranked from 11 to 30 on the admission exams. For the second year of studies (2011 -12 academic year), KSE provides: • For the MA in Financial Economics: 3 full second-year scholarships (covering the full second-year tuition fee) and 7 partial second-year scholarships (covering half of the second-year tuition fee, i. e. Euro 1, 500). • For the MA in Economic Analysis: 7 full second-year scholarships (covering the full second-year tuition fee) and 13 partial second-year scholarships (covering half of the second-year tuition fee, i. e. Euro 1, 500).

Scholarships for international students The students from Belarus and Moldova accepted to KSE are

Scholarships for international students The students from Belarus and Moldova accepted to KSE are awarded with full scholarships funded by the Swedish International Development Agency (SIDA) and the Norwegian Ministry of Foreign Affairs

KSE opportunities • KSE offers great knowledge and skills • KSE provides great career

KSE opportunities • KSE offers great knowledge and skills • KSE provides great career opportunities: - Public sector (think tanks, government) - Private sector (consulting, banks, investment, audit, industry) - International organizations (IMF, World Bank, etc) • KSE provides opportunities for continuing studies at the Ph. D. level abroad

KSE (EERC) graduates • Total graduates: 442 • Went to study abroad: more than

KSE (EERC) graduates • Total graduates: 442 • Went to study abroad: more than 100 graduates (already obtained a Ph. D. degree: 46 individuals) • Current Placement: - Working in government & public sector: 23% - Working in private sector: 60% - Studying at Ph. D programs abroad: 17%

KSE (EERC) graduates international

KSE (EERC) graduates international

Recent alumni successes • Recent KSE alumni continue to excel both in academia and

Recent alumni successes • Recent KSE alumni continue to excel both in academia and business. For example, eleven students of the class of 2009 have been accepted by top PHD programs in Western Europe and the United States. • PHD Placement of the Class of 2009: 1. Bostashvili Davit – University of Houston (USA); 2. Croitorov Olga – Universidad Carlos III de Madrid (Spain) 3. Gerasymenko Iuliia – Universidad Autonoma de Barcelona (Spain); 4. Grygorenko Oleksandr – CERGE-EI; 5. Grynkiv Galyna – Penn. State University (USA); 6. Iurchenko Oksana – CERGE-EI; 7. Ponomar’ova Yana – ESSEC (France); 8. Pypko Sergii – Penn. State University (USA); 9. Sikora Iryna – University of Alicante (Spain); 10. Yatsynovich Yury – University of California, Berkeley (USA). 11. Olha Zadorozhona - Bocconi University (Italy);

Recent alumni successes • • • In 2009 “Business” Magazine featured the macroeconomics forecasts

Recent alumni successes • • • In 2009 “Business” Magazine featured the macroeconomics forecasts of the most reputed Ukrainian think tanks. Three out of these 4 thinks tanks are represented by KSE graduates: Dmytro Boyarchuk, KSE’ 2003, Executive Director, CASE; Ildar Gazyzulin, KSE’ 2003, Chief Economist, ICPS; and Veronika Movchan, KSE’ 1999, Research Director, IER. Also in 2009, Eugen Dubogryz, KSE'2003, was named among the top three investment analysts - European Emerging Markets Metals and Mining, according to the 2009 Extel Survey According to the 2009 Thomson Reuters Extel Survey, the analytical team of Dragon Capital, which includes 3 KSE alumni, has been recognized as the best analytical team in Ukraine. According to the 2008 Thomson Reuters Extel Survey (Focus CIS), the analytical team of Concorde Capital has been recognized as the best analytical team in Ukraine. The leaders of the team are Vladimir Nesterenko, KSE’ 2004, and Alexander Parashiy, KSE’ 2004. Alina Slyusarchuk, KSE’ 2008, has been appointed as an Associate in the Research Department of Institutional Sales and Trading Division of Morgan Stanley (London). Yuriy Gorodnichenko, KSE’ 2001, is Assistant Professor at the University of California, Berkeley. Andriy Norets, KSE’ 2002, is Assistant Professor at Princeton University. Victor Tsyrennikov, KSE’ 2002, is Assistant Professor at Cornell University. Bogdan Povoroznyk, KSE’ 2004, has been appointed as Economic Analyst at the Office of the Chief Economist, EBRD. Iryna Ivaschenko, EERC’ 1998, has been appointed as IMF Resident Representative in Budapest.

Main employers of our graduates (private sector) Investment Funds and Banks • • •

Main employers of our graduates (private sector) Investment Funds and Banks • • • Alfa Bank Alfa Capital Castle Finance Citi Ukraine Concorde Capital Dragon Capital Foyil Asset Management Horizon Capital Hypovereinsbank Ukrayina Index Bank ING Bank Ukraine KINTO • • • • Midland Group Millennium Capital Morgan Stanley OTP Bank Phoenix Capital Princeton Partners Group Raiffeisen Bank “Aval” SARS Sigma. Bleyzer Troika Dialog VAbank Ukr. Sibbank Uni. Credit

Main employers of our graduates (private sector) Strategic Consulting • • • Bain &

Main employers of our graduates (private sector) Strategic Consulting • • • Bain & Company Boston Consulting Group Roland Berger Strategy Consultants Audit • Deloitte • Ernst & Young • KPMG • Pricewaterhouse. Coopers Industry and Other Private Sector • Colliers International • Consortium "Industrial Group" • DTEC • Fed. Ex Corporation • General Electric • Kraft Foods Ukraina • Kvazar Micro • Metinvest Holding • Nescafe • PBN • Procter & Gamble • Prudens • SCM • Studio 1+1 • Tetra Pak • Ukrtransnafta

Main employers of our graduates (Public sector) Academia • • • Auburn University, USA

Main employers of our graduates (Public sector) Academia • • • Auburn University, USA Cornell University, USA DIW – Berlin, Germany Florida Atlantic University, USA Georgia State University, USA Hebrew University, Israel Maastricht University, Netherlands Princeton University, USA State University of Pennsylvania, USA SUNY - Stony Brook, USA University of Alberta, Canada • • • University of California Berkeley, USA Warwick Business School, UK University of British Columbia, Canada University of Bonn, Germany University of California, Irvine, USA University of Memphis, USA University of Saskatchewan, Canada Virginia Commonwealth University, USA Yale University, USA

Main employers of our graduates (Public sector) International Organizations • European Bank for Reconstruction

Main employers of our graduates (Public sector) International Organizations • European Bank for Reconstruction and Development (EBRD) • International Finance Corporation (IFC) • International Monetary Fund • United Nations Development Program • World Bank Local Policy Institutes • BEST • Institute for Economic Research and Policy Consulting (IER) • Institute for Social and Economic Research (CASE) • International Centre for Policy Studies (ICPS) Government Agencies • Ministry of Finance of Ukraine • National Bank of Ukraine • National Electricity Regulatory Commission of Ukraine • State Tax Administration

Positions that our graduates occupy • • Vice President Chief Economist Deputy Director Head

Positions that our graduates occupy • • Vice President Chief Economist Deputy Director Head of Research Chief Consultant Financial Analyst Research Associate Assistant Professor

KSE Public Lectures From left to right: Dr. Robert Engle (Nobel Prize 2003), Dr.

KSE Public Lectures From left to right: Dr. Robert Engle (Nobel Prize 2003), Dr. Francis Fukuyama and Victor Pinchuk

KSE Public Lectures From left to right: Colin Powell (Former US Secretary of State)

KSE Public Lectures From left to right: Colin Powell (Former US Secretary of State) and Victor Pinchuk

Our Students and VIP-Persons Victor Pinchuk, with our students James Wolfensohn with our students

Our Students and VIP-Persons Victor Pinchuk, with our students James Wolfensohn with our students

Our Students and VIP-persons Vitaliy Klichko (right) and our student (left)

Our Students and VIP-persons Vitaliy Klichko (right) and our student (left)

Our Students and VIP-persons Svyatoslav Vakarchuk and Andriy Shevchenko with our students

Our Students and VIP-persons Svyatoslav Vakarchuk and Andriy Shevchenko with our students

Houston MA Degree

Houston MA Degree

Admission Exams • The criteria for admission include meeting a minimum score on the

Admission Exams • The criteria for admission include meeting a minimum score on the KSE General Admission Test which consists of three parts - mathematics, economics and English. An overall score, including interview results, will be assigned to each applicant who has been admitted to the interview. • Maximum number of points an applicant can receive is 100, among which: • KSE General Admission Test – 70 points. Out of which: - Economics Part – 30 points - Mathematics Part – 30 points - English Language Part – 10 points • Interview – 30 points

KSE admission requirements Admission to the KSE is based on merit and is open

KSE admission requirements Admission to the KSE is based on merit and is open to any citizen of Ukraine, Belarus and Moldova who meets the basic eligibility requirements: • Completed specialist’s or bachelor’s degree • Proficiency in English • Strong mathematical skills • Submission of required documents for admission by the specified deadline • A prior specialization in economics is not essential.

How to apply to KSE? Deadline for receipt of the applications is June 28,

How to apply to KSE? Deadline for receipt of the applications is June 28, 2010. The KSE General Admission Test and interviews will be held in Kyiv on July 5 -7, 2010. All information is available online: www. kse. org. ua

Visit our web site www. kse. org. ua

Visit our web site www. kse. org. ua