The paper deals with the logic and priorities of Russian economic policy in 2005. Among the main trends the author discusses: factors of economic growth; institutional and dirigiste approaches to consolidation of economic growth; the role of "national projects" announced in 2005 in economic policy debate; "diminishing returns" of economic legislation and priority of reforming the judicial system (law enforcement institutions) and human capital development over economic reform per se. The paper also deals with the priorities for 2006 and forthcoming years.

     The article substantiates the necessity of non-renewable resources funds creation in oil exporting countries. It also provides the analysis of results and specific features of fiscal policy as well as of oil export windfall revenues allocation in countries dependent on fluctuations of non-renewables prices. The article contains Russia’s Stabilization Fund effectiveness assessment and provides guidelines for further improvement of its mechanism.

     Relying on a wide range of foreign sources, the author presents the concept of "high" and "low" roads to national economic competitiveness and argues that, over the past fifteen years, the Russian economy has been gradually slipping down toward the "low road" and "immiserising economic growth". Russia is in urgent need of a visionary national strategy of integration into global market economy that would take into account the world-wide dominance of post-industrial "knowledge economy". Current government economic policy should focus on creating enabling conditions for Russian companies to learn to compete with the leading trans-national corporations on their own terms, i.e. mostly by enhancing their products’ and services’ innovativeness and attractiveness for the most demanding global consumers rather than by minimizing costs and prices.

     The theory and principles of construction of basic derived indicators of exchange rate dynamics, their economic interpretation and tendencies in the real effective exchange rates dynamics in the countries with transition economy, including Russia, are considered in the article. It is attempted to generalize the methods adopted in the international practice in calculating the real effective exchange rate, to ground the efficiency of the approaches to calculation of basic derived indicators of the rouble’s exchange rate dynamics adopted by Bank of Russia, to estimate the prospects of dynamics of the real effective exchange rate of the rouble.

     The author elaborates on methodological issues of current tendencies in neoclassical theory and demonstrates the necessity of an alternative model of science, which he calls "realist". According to this perspective, constant and regular conjunctions of economic life events should not be the main object of analysis. Rather, the author proposes to consider structures and mechanisms governing events in question. Instead of deductivism, which, as Lawson believes, is a fundamental feature of orthodox economics, the abductive method of economic explanation is proposed that entails investigation of major powers, on which any social phenomenon depends. Society is thereby regarded not as a closed, but rather as an open system.

     Constructive criticism of new institutional and resource-based approaches in the theory of the firm is conducted in the article, allowing to outline elements of the synthetic approach to the studies of economic organization. In the course of market replacement by the firm, novel and unique qualities arise, organization-specific knowledge and particular system of social relationships in the first turn. Necessary elements of the synthetic theory should include the analysis of specific productivity, specific social interactions within the firm, and organization-specific knowledge.

     Russia’s state capitalist economy causes abnormal forms of mutual relations of state authorities and business based on corruption and stealing of public resources. According to V. Ryzhkov, the liberal idea about a free man is characterized not only by philosophic but also by economic content. Liberalization of power and economy should provide reorientation of public expenses from coercive structures and state apparatus to science, education, health care, etc.

     "The Third Way" concept is still widespread all over the world. Growing socio-economic uncertainty makes the authors revise the concept. In the course of discussion with other authors they introduce a synergetic vision of the problem. That means in the first place changing a linear approach to the economic research for a non-linear one.

     Real estate cadastre is considered in the article in the context of interaction with state management tools. Benefits of cadastre usage are illustrated with developed countries practice. The author analyzes the cadastre management process and technologies, estimates quality and quantity criteria proposed by modern experience of various countries. Main tendencies of the world cadastre development arise from the European Union cadastres specifics. Characteristics of real estate objects registration in developed countries and in Russia are compared.