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Dear reader!

We are proud to bring you this new issue of the Electronic Journal of the Faculty of Economics of Lomonosov Moscow State University.

This issue contains articles devoted to research of the history of modern economic thought, evaluation of the evolution of the concept of “food security”, macroeconomic policy issues, the use of digital technologies in the formation of strategies of domestic companies and methods of teaching econometrics to economists.

The collection of articles entitled “New Proceedings of the Master's Seminar on the History of Modern Economic Theory” interprets the views of the Nobel laureates: D. MacFadden’s on the development of microeconomics, T. Schelling’s on economic conclusions from game theory, E. Prescott’s on cycle theory, and R. Thaler’s on the behavioral economics.

The article “How to Teach Econometrics to Economists: Bachelor's Level” analyzes approaches to teaching econometric disciplines to economists. Based on the extensive accumulated experience of teaching at the Faculty of Economics of Lomonosov Moscow State University, the author formulates recommendations on topics and order of their presentation within the framework of the basic course of econometrics, as well as substantiates the methodology of their presentation and suggests the rules for choosing activities for students to help them master econometrics.

The article “Real exchange rate and competitiveness of the national economy” presents the results of empirical calculations devoted to assessing the degree of impact of the real exchange rate on the growth rate of per capita real GDP and the dynamics of total factor productivity for various groups of countries, including the CIS countries, countries exporting raw materials, and developing countries targeting inflation, in the period 1990-2017, using the systemic generalized method of moments.

The article “Using digital technologies in the domestic companies’ strategy formation” discusses the features of the digital economy, which is understood by the authors as a new form of functioning of the market, in which the methods of competition have become tougher, more diverse and high-tech. The authors justify the need to formulate an enterprise development strategy while taking into account new digital concepts and tools. The article proposes the concept and structure of the media space, highlights the elements of the macro- and mesosphere of the company. A study was also conducted to identify the basic demands that consumers have when choosing a company for further interaction in the search media space. The results can be used to formulate a concept for developing a company’s strategy, both in the sphere of material production and in the service sector.

The article “Evolution of the concept of food security: history, stages, modern understanding” highlights the development of approaches to the definition of food security, as well as its various components in the world. It is established that the development was non-linear, and the attention of the world community and political decision-makers to the individual components and levels of food security depended on the economic situation. The article notes that the emerging world trend towards the synthesis and integration of food and nutrition security problems is not adequately reflected in domestic scientific papers, legal documents and food safety assessment methods, therefore, the author indicates a possible direction for their improvement.

We are looking forward to your feedback on the articles published in this issue and welcome possible future cooperation.

Editor-in-Chief
The President of the Faculty of Economics
Lomonosov Moscow State University
Professor Vasiliy Kolesov

Deputy chief editor,Head of the Department of Philosophy and Methodology
of economics of the Faculty of Economics
Lomonosov Moscow State University
Professor Leonid Tutov