Business and Economics Journal

The global financial architecture refers to the intricate network of institutions, regulations, and mechanisms that govern the flow of capital, investments, and financial transactions across international borders. It plays a pivotal role in shaping the global economy and influencing economic growth, stability, and development. Over the years, the global financial architecture has undergone significant transformations in response to evolving economic realities, technological advancements, and policy changes. This essay delves into the structures and transformations of the global financial architecture examining its key components and the driving forces behind its evolution.

Risk is an inherent aspect of business operations, arising from factors such as market fluctuations, economic downturns, technological disruptions, and unforeseen events. Effective risk management strategies are essential for businesses to identify, assess, mitigate, and navigate these uncertainties. By proactively addressing potential challenges, companies can safeguard their assets, maintain stability, and seize opportunities even in the face of volatility. This article explores the significance of risk management strategies and their role in guiding businesses through uncertainty.

Game theory, a branch of mathematics and economics, offers valuable insights into strategic decision-making in competitive situations. Originating from the study of games and interactions, it has found profound applications in the business world. Game theory allows companies to analyse the choices of various players, predict outcomes, and devise optimal strategies in scenarios involving cooperation, competition, and negotiation. This article delves into the significance of game theory in business, its key concepts, and its practical implications. Game theory explores how individuals, or "players," make decisions in situations where their choices influence the outcomes for all participants. Each player's decision depends not only on their preferences but also on the strategies chosen by others. This interdependence gives rise to strategic interactions, making game theory a powerful tool for understanding complex decision-making scenarios.

In an era marked by environmental challenges and global economic aspirations, the concept of sustainable development has emerged as a critical framework for harmonizing economic growth with environmental preservation. It calls for a balanced approach that addresses the urgent need for economic progress while safeguarding the planet's resources and ecosystems for future generations. This article explores the intricate relationship between sustainable development and economics, delving into the challenges, strategies, and benefits of achieving this delicate balance. Sustainable development, as defined by the Brundtland Commission in 1987, is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It integrates economic, social, and environmental dimensions, acknowledging that these aspects are interconnected and interdependent.

Climate change is one of the most pressing challenges of our time, posing significant risks to the environment, society, and the global economy. As the world grapples with rising temperatures, extreme weather events, and melting ice caps, the need for effective climate change mitigation strategies becomes increasingly evident. However, addressing climate change comes with economic implications, as policies designed to reduce greenhouse gas emissions and promote sustainable practices may have both costs and benefits. This article delves into the complex topic of the economics of climate change mitigation, examining how to strike a balance between environmental goals and economic growth. Implementing climate change mitigation policies involves substantial costs, particularly in transitioning from fossil fuel-based energy sources to cleaner alternatives. Governments, businesses, and individuals face the challenge of financing renewable energy infrastructure, adopting energy-efficient technologies, and adhering to stricter emissions standards.

This research study aims to investigate the perspectives of the circular economy in Kazakhstan. The research question is based on the necessity to transform from a linear economy to a circular economy, which promotes sustainable production and consumption practices. The study examines the effects of the circular economy in the construction, plastic industry, and recycling sectors. The study draws on international examples of countries that have successfully implemented circular economy principles and the strategies they have used to achieve sustainability goals. In addition, the study presents the results of surveys and interviews conducted with a teacher, students, a civil engineer, and an ecologist, to assess their perspectives on the circular economy in Kazakhstan. The findings suggest that the circular economy has the potential to contribute to the country's sustainable development goals by reducing waste, conserving resources, and improving economic efficiency. The study concludes that there is a need for policymakers, industry leaders, and consumers to adopt circular economy principles and promote sustainable practices in Kazakhstan.

Central banks play a pivotal role in shaping economic stability by conducting monetary policy and regulating financial institutions. The global financial crisis of 2008-2009, the most severe economic downturn since the Great Depression, highlighted the crucial importance of central banks in maintaining economic stability. This article explores the lessons learned from the global financial crisis and the ways central banks have evolved their strategies to address economic challenges and ensure financial resilience. The 2008 financial crisis exposed vulnerabilities in the global financial system, resulting from a combination of excessive risk-taking, complex financial products, and lax regulatory oversight. The crisis led to severe economic contractions, skyrocketing unemployment rates, and the collapse of major financial institutions. Central banks were faced with the daunting task of stabilizing financial markets, restoring confidence, and reviving economic growth.