Russia's High-Income Economy

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Russia has a high-income economy. A high income economy, defined by the World Bank, is a country with a gross national income per capita above 12,735 US dollars. According the the World Bank, Russia’s GDP per capita is $23,875. Russia is ranked 6th in the world and have a GDP of $3.493 trillion as of 2016. If you were to divide up the GDP by sector would see that 4% is agriculture, 36.3% is industry, and 59.7% is services. Their inflation is at 12.9% while they have 13.4% of their population below poverty line. They have a labor force of 76.1 million and unemployment at 6%. There economy relies mostly on exporting crude oil and their military. They have been facing a financial crisis for the last decade.
Russia has a very large arms industry
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Higher Education is provided by public and nonpublic accredited institutions. Higher Education is College, but in Russia they call it University. There are two levels of higher education, Basic higher education and Postgraduate Higher Education. Basic higher education is 4 years and you earn a Bakalavr degree, this is equivalent to a Bachelor’s degree. After you get that degree you can continue with Postgraduate higher education, which is 5-6 years or more. After 2 years in postgraduate you can receive a Master 's degree. After that you can continue towards a doctoral degree called Kandidat Nauk degree which is equivalent to a Ph D. or a Doktor Nauk Degree which is the second highest level and equivalent to Professor. This means they have the knowledge and power that is equal to their professors and are able to teach it themselves. Russia’s universities are very competitive and you must take a special entry exam which is held each year which will decide if you are able to go to a certain university. It would be compared to the ACTs in the US. Russia’s university cost about $2000 to $8000 per year for tuition. Board, room, and books can range from $1500 to $5000 per year depending on which university and location. The academic year for them are from September 1 to mid-June at every school and summers are from July 1st to August 3rd according to the Russian …show more content…
They have similar elementary level all the way up to college degrees. There are a lot of differences too though. In Russia, your grades are not private. They are revealed to the whole class by announcing it in front of the class or put on a list of student’s names and grades. Also in Russia, your parents are not involved so much in academics. Parents are not called or discussed with if students are not doing well academically. Also, note taking is pretty much required in schools. If a professor see’s a student not taking notes they will be asked to leave the classroom while in America it is optional. Another fact is that in Russia, when you begin universities you choose your major and will be taking classes for that major with only people of the same year as you until you graduate. So you won’t ever see two different majors or two different years of students ever in the same class. They pretty much pick it for you and you are stuck with the same people until you

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