February 26, 2014 under the direction of Doctor of Economics, Professor of "Economics" Dulambaeva R.T. and with the participation of 2nd course Master Degree students of "Economics" was held and organized a round work table discussion on topic “Features of devaluation in Kazakhstan: causes and consequences”.
The main objectives of the discussion were:
1) Expand the essence of the notion of devaluation, the reasons for and consequences;
2) Adapt existing theory for successful devaluation in an unstable global economic processes (in particular the presentation of the Marshall-Lerner model for effective monetary policy);
3) Identify the features and principles of operation of a modern monetary system. Disadvantages of devaluation and revaluation;
4) Identify the features of state regulation of foreign exchange rates in the global economic system;
5) Identify the characteristics and causes of devaluation in Kazakhstan for example of 2009 and 2014;
6) Discuss issues related to the socio- political and economic consequences of devaluation in 2014 in Kazakhstan.
Main speakers:
1) Report of a student Shurenov N.B. on "Theoretical Foundations of devaluation and the Marshall-Lerner condition for a successful devaluation;
2) Reports of students Abishov D.A. and Aymashova S.S. on "World experience of the devaluation abroad";
3) Report of a student Seydildaeva K.M. on "Causes and consequences of the devaluation in Kazakhstan";
Discussion participants were students of High School of Economics and Business and the other faculties of the al-Farabi Kazakh National University.
The result of the discussion are the following conclusions: the devaluation of implementation processes require to develop a clear strategy on the part of the responsible authorities, careful preparation, study and take into account socio - economic factors. In the context of the national economy there are features of the functioning of the reproductive system Kazakhstan, which involves carrying out mitigation to the general public through adequate and correcting social policy of the state.
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