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Journal number 4 ∘ Aytkin Gasan Akhundova Gulnar Xanlar Samadova

Development of tourism in the Republic of Azerbaijan against the background of the coronavirus pandemic: research and evaluation of economic indicators

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Aytkin.Gasan.Akhundova/Gulnar.Xanlar.Samadova Summary. In nearly 400 days since the World Organization health care declares COVID-19 a pandemic, the world is and continues to fight for living with coronavirus and its consequences, which had a sagnificant impact to all spheres of economic activity, including the development of tourism. According to the WTO, the reduction in the number of tourist trips around the world has brought very large losses to the tourism industry. The spread of coronavirus infection has also damaged the tourism sector of Azerbaijan, primarily the hotel business, the activities of  tour operators and travel agencies. This article examines the devepment of tourism in Azerbaijan during the spread of  COVID-19, examines a set of tasks and measures adopted by the state to mitigate the consequences of the crisis and revive tourism activities. Key words: tourism development, crisis, COVID-19 pandemic, tough measures, re
Journal number 4 ∘ Gurbanov Tariyel Musallim oglu

Features of the modern crisis in the light of the theory of cycles

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Gurbanov.Tariyel.Musallim.Oglu Summary Modern society strives for constant improvement of the standard and living conditions, which can only be provided by sustainable economic growth. However, long-term economic growth is not uniform, but is constantly interrupted by periods of economic instability. The economic history of the past two centuries provides us with a myriad of examples of the instability of the market economy. Periods of successful industrial development and general economic prosperity have always been followed by periods of recession, accompanied by a drop in production and unemployment. In general, the market economy has a tendency to repeat economic phenomena, which makes it possible to identify the "cyclical" nature of its development. Since the economic crises of the first half of the 19th century, economists have been trying to find the reasons and explain why this happens at regular intervals with stubborn consistency. The p
Journal number 4 ∘ Avtandil JorbenadzeTengiz Verulava

Diagnosis of Hospital Funding (DRG) Hospital Funding Method and 1995 Health Care Reforms

Doi:  10.36172/EKONOMISTI.2021.XVII.04.Avtandil.Jorbenadze/Tengiz.Verulava Expanded Summary One of the most important challenges of the health care reform started in Georgia in 1995 was the introduction of healthcare financing system, which would be balanced with the economic situation of the country. The budgetary funding of hospitals has been replaced by targeted program funding. Under The new financing system, the activities of the medical institution and the health care worker was reimbursed in proportion to the volume, quality and importance of the work performed. With the creation of a new system of funding for medical organizations, the choice was made to adopt medical economic standards, which was based on the principles of world-recognized cost-effective method, funding with Diagnostic Related Groups (DRG), where similar diseases are united in one nosological group. The introduction of medical economic standards was preceded by discussions of medical professional asso
Journal number 4 ∘ Demur Chomakhidze

Electricity tariff and the concept of its change

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Demur.Chomakhidze Expanded Summary The article mentions that among the many problems of the Central Bank of Georgia is the issue of secure and sustainable energy supply. It is said that energy is the lifeblood of the economy. It depends on human-economic development and strength, population welfare, etc. We can not achieve economic security without achieving energy security; Moreover, it is related to independence and statehood. Of particular importance is the fact that an increase or decrease in energy prices through a chain reaction is immediately reflected in the consumer market. It is therefore not at all surprising that each increase in the consumer tariff on electricity is considered in the society. The article discusses the cause-and-effect aspects of the formation of electricity tariffs and forms an authorial version of its change. The article describes the factors affecting energy tariffs that lead to its change. These include globaliza
Journal number 4 ∘ Nata Davlasheridze

Contribution to the development of auction theory by Paul Milgrom and Robert Wilson Nobel Prize winners in economics for 2020

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Nata.Davlasheridze Expanded   Summary The article examines the contribution made by Paul Milgrom and Robert Wilson Nobel Prize winners 2020 in Economics laureates to auction theory. It is emphasized that they not only developed a general theory of auctions, but also significantly developed it. Based on the fundamental theory of auctions, Wilson and Milgrom tried to identify the links between the format of the bidding, their rules and final prices. Before them, simple auctions were analyzed, but they considered precisely complex ones. And most importantly, they applied their theory in practice and developed a new mechanism for organizing auctions on its basis. The article shows the history of awarding Nobel prizes on this topic, as well as on two fundamental areas in mathematical economics - game theory and the design of mechanisms that are closely related to auction theory.         According to Milgr
Journal number 4 ∘ Rusudan KvaratskheliaLevan kikilashvili

Globalization and international business planting trends

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Rusudan.Kvaratskhelia/Levan.Kikilashvili Resume An important scientific problem of our time is the particular manifestation of modern globalization and the pressure on the social sphere. With real resistance to negative manifestations in the conditions of modern globalization, a social immune system has been formed. The advantages of globalization are becoming increasingly compatible with historical traditions and the mentality of a particular society. The term "global influence", which has been used as an important feature of globalization, has been used in one way or another since ancient times. However, the transition from a concept to a term and then the conceptual use of that term has only recently begun. It should be noted that there are still not many textbooks and dictionaries in this regard. The complex nature and dynamics of globalization pressures as an interdisciplinary object of study significantly hinder the establishment of clear b
Journal number 4 ∘ Rusudan DalakishviliNino Tchanturia

Effectiveness of Digital Marketing

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Rusudan.Dalakishvili/NinoTchanturia Expanded Summary  In today’s digital age, marketers face new challenges and opportunities. The 21st century is considered to be the century of the consumer, which is why the main task of any business is to correctly determine what the needs and wants of the consumer are. Marketers use electronic media to promote a product or service in the marketplace This includes not only email addresses, social media and web advertising, but also text and multimedia messages as a marketing channel. Essentially, if a marketing campaign involves digital communication, it is digital marketing. The effectiveness of digital communication depends on the purpose of the company, the tasks, the financial capabilities and more. Therefore, when implementing a marketing plan, we must correctly define who our segment will be in order to choose the form of digital communication accordingly. For any business to succeed it is e
Journal number 4 ∘ Irma Tkemaladze

Co-working as a new design of work to promote employment

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Irma.Tkemaladze Summary The accelerated digitization process, the uncertainties arising from the Covid-Pandemic and the need to impose restrictions make us think about how the nature of work will soon change, the forms of employment and labor organization, working modes, and, in general, what the word "job" will mean in the future. For some time, the latter meant a social order that divided working time from free time, employment space, and personal space. But with the development of society and technology, the above margin has gradually been erased. The global pandemic has accelerated the process of changes in every field, including this direction. In turn, new Internet communications resources have provided constant and large-scale access to the virtual environment, thus expanding the ability of the employee to perform the functions assigned to him/her remotely. This virtual space, thanks to the concept of shared use, creates new business model
Journal number 4 ∘ Kristine Uglava

Collaboration and Partnership of Local Actors for Local Economic Development

Doi: 10.36172/EKONOMISTI.2021.XVII.04.Kristine.Uglava Expanded Summary  The Local Economic Development  (LED) is a holistic approach of development based on cooperation and participation of local actors and on integration of local resources. It does not focus on the development of only one sector or on the welfare of one social group. It should be noted that successful LED strategies are not created by just one stakeholder. The uniqueness of LED lies in the fact that it would combine the efforts and resources of all local actors under a common vision of local development to ensure inclusive growth at local level. LED strategies are more effective when LED projects are funded by many local stakeholders, for which the willing of local actors is crucial to work in a collaborative and partnership format. It should be noted that if we give all the responsibility of local development to one local actor, for example only to the local government or the local private sector or just