History of the Ukrainian Economy from 1991 onwards

Name: History of the Ukrainian Economy from 1991 onwards
Rating: 5.0 (3 reviews)

Created byMaksym Obrizan

Last updated 12/2022

English

What you'll learn

Familiarize yourself with key facts about the economic history of Ukraine from 1991
Analyze sources of Ukrainian economic development
Refresh your knowledge of key macroeconomic concepts
Identify the main sources of data on the Ukrainian economy
Use free data sources to understand the economy of your country
Learn the foundations of Ukrainian economic resilience
Apply the practical knowledge to better understand the news
Understand the economic damage of a barbaric aggression

Course content

3 sections • 9 lectures • 1h 57m total length

Gross Domestic Product of Ukraine from 1991 onwards7:17
In this video we will learn that Ukrainian transition to a free market economy was not easy. We will see that despite a substantial decline in the Gross Domestic Product from 1991 until 1999, the country started a quick economic recovery which was undermined by a number of external events, such as 2008 Global recession and COVID-19 epidemics.
Why Ukraine is not as poor as GDP may suggest9:46
In this video we will learn why Ukraine is not as poor as GDP may suggest. First, Ukraine has a large shadow economy which, according to some estimates reaches 50% of GDP, may hide the true level of income. Second, the prices of many goods and services are much lower in Ukraine compared to high-income countries. 100$ would have much higher purchasing power (in terms of goods and services one can buy) in Ukraine, compared to the United States.
Alternative measures of well-being11:55
In this video we will learn that Ukraine before 2022 had substantially reduced its poverty headcount and also income inequality. Ukraine is also doing relatively well on alternative measures of well-being, such as Sustainable Development Goals and Doughnut economy.

Inflation and unemployment in Ukraine18:05
In this video we will learn that Ukraine has experience once of the highest levels of inflation in recent history when prices increase by a factor of 48 just over one year. We will see then how the introduction of a new currency hryvnia (UAH) allowed to take prices under control. We will also identify the role of the exchange rate to US Dollar as a marker of price stability. Then we will discuss how labor force participation rate and unemployment changed in Ukraine since 1991 onwards.
The economic role of the government9:07
In this video we will see how Ukraine moved from almost fully government-owned economy in 1991 to a more resilient market economy. We will discuss how tax share in GDP has changed and also why Value-Added Tax (or Sales Tax) is so important in Ukraine. We will learn why Ukraine has run budget deficits and how those translate into government debt.
Trade, remittances and reserves17:15
In this video we will discuss key statistics related to international trade of Ukraine such exports, imports and current account balance. In particular, we will learn that Ukraine is a very open economy with a high share of international trade in GDP. We will also observe that a high share of Ukrainians became migrant workers abroad who send substantial remittances to their families back home.
The structure of the Ukrainian economy15:09
In this video we will discuss how Ukrainian economy evolved from being dominated by heavy industry in the 1990s to a modern service-oriented economy. We will see how agriculture and IT sectors became the drivers of the Ukrainian exports providing excellent opportunities for their employees.

War damages between 2014 and 202113:27
Many observers forget that war in Ukraine started in 2014 from occupation of Crimea and parts of Donbas which accounted for a quarter of Ukrainian exports. In this Section, we will try to quantify the economic damage of the early conflict as well as currently available estimates of the damage brought by the largest continental war in Europe since WWII.
War damages during the full-scare aggression from 202215:48
In the last video we will discuss the devastating effect of the 2022 full-scale aggression on the Ukrainian economy. We will provide the estimated losses in terms of GDP, unemployment, inflation, poverty as well as estimated damages to infrastructure. We will finish the course with the optimistic conclusion that Ukraine will rebuild itself after the victory.

Requirements

Intermediate level of English

Description

Since the tragic dawn of February 24, 2022, the whole civilized world stands with Ukraine in remarkable support for freedom and democracy. In this course we will look at the economic history of Ukraine from 1991, trying to understand the economic foundations of incredible Ukrainian resilience. After completing this course, you will be familiar with key facts and data sources about Ukrainian economic history which will help you to better understand the news, current developments, and prospects of Ukraine after its victory.

Although the history of Ukraine as a state starts at least from the late 10th century, this course focuses on the modern period when Ukraine regained its independence back in 1991. These 30 years have not been easy for many citizens of Ukraine - collapse of the planned economy in the 1990s led to high inflation and unemployment which, in turn, provoked unprecedented levels of poverty. Things started to improve in the 2000s with a quick reduction in poverty rates and income growth which continued until 2014.

We will consider traditional metrics of development such as GDP per capita, poverty rates, income inequality, unemployment, and inflation as well as sources of economic growth in dashboards of indicators. We will compare Ukraine to neighboring Poland and also to the United States to better understand its relative performance. Finally, we will estimate the economic damage to Ukraine that was brought about by the unprovoked and brutal aggression.

The participants of the course will benefit from a unique perspective of the instructor who spent his entire professional career in Ukraine after receiving PhD in Economics in the USA in 2010.

Who this course is for:

General audience interested in Ukraine
Students in history and economics
Professionals

History of the Ukrainian Economy from 1991 onwards

What you'll learn

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Course content

GDP and other measures of well-being in Ukraine3 lectures • 29min

Key macroeconomic statistics for Ukraine from 1991 onwards4 lectures • 1hr

War damages to the Ukrainian economy2 lectures • 29min

Requirements

Description

Who this course is for: