Digital Transformation of the World Economy

In modern conditions the role of digitalization which is becoming the main factor of the development of the world economy, is growing significantly, as the competitiveness of individual countries is determined by the level of implementation of innovative banking technologies as a tool for creating digital financial ecosystems. At the same time, there are considered key indicators of bank customers activities related to Internet access and infrastructure development opportunities, the consumer demand for digital technologies, the specific application of legislative norms in this area, the development of innovations in individual countries based on additional investment in the latest technologies and digital start-ups. There is given the definition of the concept of digital economy, analysis of the development of digitalization in terms of its use in various areas: financial, production, trade, social. Within the framework of the national approach, digitization, for which a cyclical character is typical, is considered in detail. So, initially new technologies actively developed in the USA, Germany, Japan and other developed countries, but now these countries reduce the pace of growth of technological implementations, and the less developed countries, where the rates of digitalization are more significant. The article presents dividing countries in four categories, according to the growth of digitalization of the economy. In the world economy, the key to stability and high competitiveness in the long term should be the policy of continuous innovations, which requires from banks and other market participants to make quick and radical decisions that often affect their financial behavior and strategic line of development. Thus, the indicators of the involvement of countries in digital banking indicate that this type of banking activity is gaining momentum, and digitalization is currently the main vector of world development.


COURSE PREREQUISITES
There are no prerequisites. While a background in any relevant discipline would be helpful, a sincere interest in a conceptual understanding of the material is all a student needs. Advanced level of English is instrumental for doing well in this course.

COURSE TYPE AND METHODS OF INSTRUCTION
This course is elective. All lectures and seminars are face-to-face engagements. Possible field trips may be included in lieu of lecture meetings, subject to sites and time availability.

COURSE DESCRIPTION
This course provides interdisciplinary perspective and practical experience on how information and communication technology (ICT) has been transforming the economy. The main feature of this course is that students will engage in digital economy itself, not just learn about it or discuss others participate in it.
We will cover a little bit of material across key issues of the process of world's digital transformation, and the goal is to connect ideas together and engage in the digital economy through a group project. Topics include critical components of digital ecosystem, place of information technology in the theories of and its impact on economic growth, role of information technology in evolving economic relations, and socioeconomic implications of digital transformation. The emphasis is on (a) appreciating the effect of emerging technologies on global economy and (b) on developing skills for taking advantage of economic opportunities afforded by digitalization.

LEARNING OBJECTIVES
The primary objective is to encourage critical thinking about the impact of digitalization on economic processes worldwide and its role in the society. This will involve connecting economic theory with other disciplines. A second objective is to gain skills in collaborative writing and to learn information literacy. This will include group work in digital environment. And a third objective is to engage in digital economy itself. This will be achieved through working on a team entrepreneurial project via putting together several basic components of a start-up investment proposal.
The knowledge and skills gained in this course will contribute to students' toolkit necessary for (a) anticipating and shaping the impact of emerging technologies and (b) reacting quickly to changing circumstances in rapidly evolving digital economy.
The emphasis will be on active learning. At times, students may be asked to complete the readings or watch video materials before class to get more out of learning activities integrated with in-class meetings.
Caveat. This course covers key exciting innovative developments in today's economy. However, it will not attempt to provide an in-depth literature survey of the field, nor will it include detailed technical discussions of each technology or aspire to achieve a comprehensive review of emerging technologies. We will jump around several topics where a common theme -digital transformation -is what holds everything together.

LEARNING OUTCOMES
At the end of the semester, students will be knowledgeable about: 1) The nature and extent of the digital transformation, 2) How to evaluate various challenges that digital transformation of world economy presents, and 3) The likely global implications of digital economy evolvement.

COURSE TEXTS
There is no textbook in this course. However, readings and video materials will be assigned for each session. We will make our best effort to help find required and optional materials and ask you to let us know right away if provided internet links for resources are no longer useful.

Essay (50%)
Individual or group paper in the format of a draft of some basic elements of start-up investment proposal. Due: at sixths seminar. Exam (50%) Take-home final exam in the format of final start-up investment proposal. Due: TBA.

GUIDELINES FOR KNOWLEDGE ASSESSMENT
Ability to effectively communicate your ideas and articulate relevant and potent questions is an important skill to have in the digital era. Attending classes, learning online materials and taking active part in class discussions and activities is the best way to hone this skill and to maximize your overall course performance.
Attendance and participation are not compulsory; however, they will be tracked: during each lecture you will be asked to perform some tasks and at the end of each lecture -to write three take-home points. These data will be used in assigning your final grade. That is, if you attend and actively work on at least 12 lectures, your final course grade will be increased by one point.

COURSE POLICIES
It is students' responsibility to be thorough familiar with university's plagiarism policy. Cheating and disruptive behavior in any form are never allowed. The instructor reserves the right to alter any topics covered or assignments with appropriate notice. Information about changes and additional materials will be announced in class and posted to class cloud drive or emailed. The institutional university policies will be used for resolving any organizational or administrative issues not included in this syllabus. Although, I enjoy interacting with students after class, this is not always feasible due to other professional obligations. I would prefer for students to contact me via email (nmilovantseva@hse.ru) for arranging personal or group consultations.

EQUIPMENT SUPPORT
General up-to-date equipment, adequate for slides presentation and video viewing.