• L. Grebnev - Russian Education in the Mirror of Demography

• Yu. Sizov - Urgent Problems of the Russian Stock Market Development
• Yu. Danilov - The New Role of the Capital Market in Russia

• V. Radaev - Changes in Competitive Environment in the Russian Markets (The Case of Retailing Chains)

• D. Tushunov - Credit Activity of Russian Enterprises
• A. Akhmeduev - Management of State Unitary Enterprises
• V. Rashnikov, A. Morozov - Magnitogorsky Metallurgy Combinat in the Russian Economy

• V. Novikov - Historical Optimism and Heuristic Potential of the Political Economy of Socialism

• R. Nureev - Public Choice Theory. A Textbook. Chapter 12. Constitutional Economics
• L. Kleyeva - Teaching Economics in Distant Form

• S. Dzarasov - The Economy: Market or Mixed? (On the Book by A. Porokhovsky "The Vector of Economic Development")

• M. Chardymsky - Industrial Enterprises of the All-Russia Association of the Blind: Present State, Peculiarities and Prospects


• V. Gavrilov - Mutual Debts of Developed and Developing Countries


• A. Buer, A. Porunov - Mineral Resources Tax and Recultivation of Lands

     The dynamics of several demographic indicators of Russia - child and teenage cohorts in 1970-2000, life expectancy in 1995-2000, migration flows among federal districts in the period between two censuses of 1989 and 2002 - are considered in the article. The author puts forward the hypothesis about the influence of these indicators on the level of education in narrow and broad senses - in educational institutions and the society as a whole. He estimates the perspectives of regional higher educational institutions under conditions of absence of plan distribution of graduates and the double cyclical fall in the number of high school graduates. The agenda for the development of a two-stage system of higher education corresponding with international integration processes is formulated.

     The article reviews the importance of a stock market as one of the key institutions of the advanced market economy. The author argues that the country will not be able to proceed to more mature phases of development until its securities market can perform its basic functions. Convincing arguments are put forward against the established views on the impossibility to overcome disadvantages of the market mechanism in today's Russia. The author substantiates recommendations for promoting investment orientation of the stock market and frames a new concept of its state regulation.

     The article is devoted to the new role of the capital market in the Russian economy. New qualitative characteristics of the Russian capital market are described, which make it possible to carry out its macroeconomic functions, including the function of transferring savings into investments as a main one. The author analyses the processes, which have lead to this new quality of the capital market. It is affirmed that the сhange of its role has taken place as a result of consequent abandoning and weakening of the restrictions that have been inherent to all participants of the market - investors, issuers and intermediaries.

     Fundamental changes have occurred in the competitive environment in the Russian retailing market in the beginning of 2000s. New Russian retailing chains are expanding to occupy the place of independent stores and open-air markets. However, they face a serious challenge. The first transnational retailers have already entered the domestic market. More of them are expected to invest huge money into the Russian economy. A redistribution of markets is on the agenda for the next 3-4 years. What does it mean for Russian leading sellers? Will they survive or leave the market as it happened with local retailing chains in Eastern Europe? What kind of business strategies are elaborated to meet the challenge of the new competitive environment? These are the issues for investigation in the paper. A major data source comes from two series of in-depth interviews conducted with owners and top managers of 38 companies, which are members of two business associations - RATEC and ACORT.

     Issues of providing credits to enterprises of the real sector of the economy are considered in the article. The attempt to systemize risks in this sphere on the side of large and medium-size industrial enterprises as well as commercial banks is made. Basing on statistical data the interaction of the size of enterprise and its credit activity is analyzed. Temporal structure of the credit portfolio of large enterprise is considered.

     The author explores the ways of increasing unitary enterprises' performance. Among them are: the division of functions of subjects of management; the complete stock-taking and certification of enterprises' property, the rise of responsibility of managers. The author also puts the question about the introduction of obligatory payments for the use of state property.

     The paths of reforms in economic, financial, investment and social spheres of the Combinat's activity are considered in the article. The Combinat has managed to achieve leading positions in the Russian economy. The efficient management structure has allowed to increase production and keep the personnel.

     Historical optimism is a rather common belief in economics. It is often thought that a newly established theory (or society) is better than the previously prevailing one. The author doesn't share this view and finds it useful to discuss the role of the political economy of socialism in contemporary economics which was begun with the publication of the paper by A. Buzgalin in 2003, No 3. But the analysis of A. Buzgalin's arguments doesn't support his conclusion on possible usefulness of the political economy of socialism in the studies of post-industrial society.

     The necessity of formation of constitutional economics is considered in the twelfth chapter of the textbook. The model of constitutional order by F. Hayek is analyzed. The requirements to effective constitution are described. The law is viewed as the public capital. The concepts of defending and producing state are defined. The chapter also includes further readings, control tests and questions.

     The article considers the problems of teaching economics and management in distant form. The necessity of using such a form is connected with the fact that practical managers and professional economists usually have no opportunities to leave their business for a long time. The distant form of education gives them a chance to combine education with their practical activities. Teaching economics in distant form implies certain methodological problems discussed in the article.