There is no need to argue that the study of the history of economic thought is as important as the study of any other science. The history of economic thought is a part of the intellectual heritage of a country and, as such, is necessary for understanding of the present status of scholarship and culture in general. Economic science in the present-day Ukraine cannot be adequately understood without knowledge of the historical processes which contributed to its development.

Mykhailo Tuhan-Baranovskyy, an economist, sociologist, historian of industrialisation and theoretician of socialism and cooperativism,was born on January 8, 1865, in the village of Solone, in the province of Kharkiv in Ukraine. On graduating from the Faculty of Physics and Mathematics at Kharkiv University (1888), he studied political economy and statistics at the Faculty of Jurisprudence at Kharkiv University, passing the Masters examination and completed his training as an economist with periods of study in St. Petersburg, Paris (1889), Moscow and London (1892). His first work, A Study of the Marginal Utility of Economic Goods( ) (1890) and above all his doctoral dissertation on The Industrial Crises in Modern England, their causes and influence on the economy( 볿 ) (1894), his masterpiece dedicated to the study of business cycles, gained him the position of assistant professorof political economy at the Faculty of Jurisprudence at St. Petersburg University (January, 1895).

His fundamental work on The Russian Factory, Past and Present( ) (1898) and the subsequent translation of his major works into German, English, French and Spanish among them, The Theoretical Foundations of Marxism ( )(1905) and Modern Socialism in its Historical Development( ) (1906) made Tuhan the most eminent Slav economist of that period (J.A.Schumpeter). From 1905 onwards Tuhan worked with the daily newspaper Rechand was recalled to the Faculty of Jurisprudence at St.Petersburg University as assistant professor. In 1913 he was appointed to the Department of Political Economy. In spite of the merit of his teaching and scientific research, culminating in his Foundations of Political Economy( 쳿) (1909), a new veto by the minister forced him to resign and from 1913 to 1917, he taught in the Department of Economics of the Imperial Polytechnic Institute in St. Petersburg.

Gradually coming to share the aspirations, ideas and political programs of the Ukrainian national and cooperative movement, Tuhan left Petrograd for Kyiv in the summer of 1917 and in August 1917 he took up the post of Minister of Finance in the Central Secretariat of the Ukrainian Central Rada.In 1918 he became the Head of the Ukrainian Academys Third (Socio-Economic) Department and founder of the Institute for the Study of Economic Cycles at the Academy. Sent as an economic adviser with the Ukrainian delegation to the Paris Peace Conference, on January 8, 1919, he died in the railroad station at Oradne on the way from Kyiv to Odesa.

All of this activity should have made Tuhan the best-known and the most influential Slav economist in the West, as well as the main link between the Austrian, German and Russian economic schools. However, his most important and original contributions to economic analysis were only partially and almost grudgingly, acknowledged by contemporaries and successors. Tuhan still awaits due recognition and documentation of his numerous contributions both to economic analysis, in the strict sense of the term and to the social sciences, in the widest sense.

Task 33. Translate the sentences into English:

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Task 34. Think over and then write for half an hour on one of the following issues:

A.What modern Ukrainian economists and managers do you know? Describe the contribution of a world-known contemporary Ukrainian economist or manager in the development of economics/ management.

B.In what fields of management are the scientists of your educational institution doing research most actively? (Talks with teachers of management subjects and acquaintance with their publications will help you).

C.Do you agree or disagree with the statement: there are still gaps in management science that need to be researched?


Task 35. Having read the material of the unit, how would you answer the questions:

What economic schools have you learned about?

Who are the representatives of the economic schools existing in Ukraine?

Which works made M. Tuhan-Baranovskyy the most eminent Slav economist of his time?

What idea expressed by M. Tuhan-Baranovskyy raised his work to the world level?

How important are the contributions into the development of economic thought made by the scholars working in Lviv?

Which of the economists you know work at Lviv Polytechnic National University?

Task 36. Choose any of the dialogues offered below. Reproduce them with a partner. Change the roles. Single out the major ideas and be ready to report them to the group.

Dialogue 1.

A: Hello.
B: Hi. Glad to see you. How are you?
A: Theres nothing particular new under the sun. What about you? Are you doing anything interesting at the moment?
B: Well, Im busy writing an article about famous scientists of the Institute of Economics and Management: professors Oleh Kuzmin, Yosyf Petrovych and Yevhen Krykavskyy, and I think you are the very person to help me.
A: Sure, Ill do my best. Ive just graduated from this Institute and will gladly tell you anything youd like to know. By the way, you really addressed the right person. I did research for my Masters work under the guidance of prof. Kuzmin, and I really benefited from it.
B: Prof. Kuzmin is Director of this Institute, isnt he?
A: Right. He is Director of the Institute of Economics and Management and Head of the Department of Management of External Economic Activity.
B: I have heard that all three scientists hold the Doctors degree in Economic Sciences. They are graduates of our University and have made and are still making valuable contribution into research and teaching at this institution.

Dialogue 2.

A: For many years the research and teaching activities of Oleh Kuzmin have been dealing with theoretical and applied issues of management. He has developed the methods of improvement of organisational structures for business operation in the market environment. He also deals with the problems of management of external economic activity, investment and innovation management, assessment and neutralisation of management risks and some others.
B: In the Internet I have found some very interesting information concerning O. Kuzmins contributions. He has written more than 350 scientific works. On the web-sites you can find his 10 monographs as well as hundreds of his presentations made at scientific conferences, both national and international.
A: This proves that Oleh Kuzmin is a versatile scientist, talented pedagogue, wise administrator and organiser. He is famous for popularisation of economic and management issues. You are lucky to have prof. Kuzmin as a scientific advisor.

Dialogue 3.

A: Professor Yosyf Petrovych is a person Im going to write about. My elder brother studies economics and he told me a lot about him.
B: Y. Petrovych is one of the most experienced professors of the Institute who has always been active in research, making young people interested in his field and trying to involve them in research activity. The scientist has published over 420 scientific works, among them 30 monographs and books, 6 textbooks (approved as manuals for students of Economics and Management). His monographs, books and articles deal with a wide range of urgent economic issues and management of organisations.
A: Y. Petrovych began his professional career in 1959 as an engineer at a research institute of Lviv Polytechnic Institute. In 1967 he obtained the Candidate Degree and in 1983 he was awarded Doctors degree in Economics.
B: In December 1991 Professor Y. Petrovych was elected Academician of the Academy of Engineering Sciences of Ukraine and in April 2002 he became Academician of the International Academy of Sciences. Under the supervision of the scientist 22 Candidate dissertations and 2 Doctoral theses have been successfully defended. For further information Id recommend you the Web site www.znc.com.ua.

Dialogue 4.

A: Do you know anything about Yevhen Krykavskyy?
B: He heads the Department of Marketing. Yevhen Krykavskyy is a leading scientist of the Institute of Economics and Management. His scientific activity is focused on economics, organisation and management in the branch of energetic; development and introduction of marketing in Ukraine; development of theory of logistics and introduction of Logistic concepts into the activity of enterprises and organisations in Ukraine. He is the author of a monograph, three manuals and many scientific publications. Professor Y. Krykavskyy actively supervises research work of the young talented scientists of the Department. Eight Candidate dissertations have been successfully defended under his supervision.
A: Now I need some time to think all the information over. Thank you.
B: You are welcome.

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