BRICS model at Faculty of World Economy and International Affairs

On January 25, 2023 'BRICS model' was held at the Faculty of World Economy and International Affairs: 'Financial settlements between BRICS countries in their national currencies: opportunities and prospects'

In collaboration with BRICS NU, business game BRICS model: 'Financial settlements between BRICS countries in their national currencies: opportunities and prospects' was held on January 25, 2023 at the Faculty of World Economy and International Affairs. Model was organised by Deputy Dean Alexandra Morozkina and Co-chair of ITG on 'Economics' Alina Shcherbakova. Students from both HSE University and RUDN University were divided in 5 groups to represent 5 BRICS countries. A the end of the model, final declaration was adopted. 

Before the start of the model, Marina Batalina, Head of HSE University Cooperation Office, welcomed the participants and pointed out the relevance of the format. She suggested that it can be further used in organising BRICS models with the students' from universities of BRICS NU ITG on 'Economics'.  

Participants discussed:

• existing 'BRICS Pay' initiative and usage and recreation of its mechanism;
• creation of a unified BRICS currency (including a cryptocurrency);
• usage of China's yuan as a unified payment method in BRICS countries based on its role in international relations;
• the need to update the list of foreign exchange reserves;
• and many more opportunities and prospects.

First place was awarded to India representatives, second to Russian Federationa and third - South Africa. All participants actively took part in the model and defended their interests brilliantly. 

Panel of judges consisted of the leading experts on BRICS countries, including Marina Batalina (HSE Univesrity), Oleg Remyga (Skolkovo Moscow School of Management), Andrey Maslov (HSE University Centre for African Studies), Artyom Derevtsov (MIA of RF), Alina Shcherbakova (HSE University), Alexandra Morozkina (HSE University).  

First BRICS model has established itself as a successful project with great interest rate among students. BRICS NU ITG on 'Economics' plans to organise it on a yearly basis as an educational and outreach activity for students.