diff --git a/python/src/META-INF/python-plugin-common.xml b/python/src/META-INF/python-plugin-common.xml
index d4257936a1f4..6b42aefb4daf 100644
--- a/python/src/META-INF/python-plugin-common.xml
+++ b/python/src/META-INF/python-plugin-common.xml
@@ -333,6 +333,5 @@
             text="Run Django Console..." description="Allows to quickly run Django console">
       <add-to-group group-id="ToolsMenu" anchor="last"/>
     </action>
-    <action id="Console.Execute" class="com.intellij.openapi.actionSystem.EmptyAction" text="Execute Current Statement"/>
   </actions>
 </idea-plugin>
diff --git a/python/src/com/jetbrains/python/codeInsight/PyCodeInsightSettings.java b/python/src/com/jetbrains/python/codeInsight/PyCodeInsightSettings.java
index 4508291837bc..8cb63257428c 100644
--- a/python/src/com/jetbrains/python/codeInsight/PyCodeInsightSettings.java
+++ b/python/src/com/jetbrains/python/codeInsight/PyCodeInsightSettings.java
@@ -24,6 +24,7 @@ public class PyCodeInsightSettings implements PersistentStateComponent<PyCodeIns
 
   public boolean PREFER_FROM_IMPORT = true;
   public boolean SHOW_IMPORT_POPUP = true;
+  public boolean HIGHLIGHT_UNUSED_IMPORTS = true;
 
   public PyCodeInsightSettings getState() {
     return this;
diff --git a/python/src/com/jetbrains/python/inspections/PyUnresolvedReferencesInspection.java b/python/src/com/jetbrains/python/inspections/PyUnresolvedReferencesInspection.java
index 714e16d370f1..3f0f5029a560 100644
--- a/python/src/com/jetbrains/python/inspections/PyUnresolvedReferencesInspection.java
+++ b/python/src/com/jetbrains/python/inspections/PyUnresolvedReferencesInspection.java
@@ -93,7 +93,9 @@ public class PyUnresolvedReferencesInspection extends LocalInspectionTool {
   public void inspectionFinished(LocalInspectionToolSession session) {
     final Visitor visitor = myLastVisitor.get();
     assert visitor != null;
-    visitor.highlightUnusedImports();
+    if (PyCodeInsightSettings.getInstance().HIGHLIGHT_UNUSED_IMPORTS) {
+      visitor.highlightUnusedImports();
+    }
     myLastVisitor.remove();
   }
 
diff --git a/python/src/com/jetbrains/python/psi/impl/PyImportElementImpl.java b/python/src/com/jetbrains/python/psi/impl/PyImportElementImpl.java
index 308bb256bd8c..a54a712585eb 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyImportElementImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyImportElementImpl.java
@@ -219,7 +219,10 @@ public class PyImportElementImpl extends PyBaseElementImpl<PyImportElementStub>
       if (qName == null || qName.getComponentCount() == 0 || !qName.getComponents().get(0).equals(the_name)) {
         return null;
       }
-      return ResolveImportUtil.resolveImportElement(this, PyQualifiedName.fromComponents(the_name));
+      if (qName.getComponentCount() == 1) {
+        return ResolveImportUtil.resolveImportElement(this, PyQualifiedName.fromComponents(the_name));
+      }
+      return new PyImportedModule((PyFile) getContainingFile(), PyQualifiedName.fromComponents(the_name));
     }
   }
 
diff --git a/python/src/com/jetbrains/python/psi/impl/PyImportedModule.java b/python/src/com/jetbrains/python/psi/impl/PyImportedModule.java
index 276bbd815589..e81836a9c4b5 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyImportedModule.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyImportedModule.java
@@ -4,11 +4,10 @@ import com.intellij.psi.PsiElement;
 import com.intellij.psi.PsiElementVisitor;
 import com.intellij.psi.impl.light.LightElement;
 import com.jetbrains.python.PythonLanguage;
-import com.jetbrains.python.psi.NameDefiner;
-import com.jetbrains.python.psi.PyElement;
-import com.jetbrains.python.psi.PyFile;
-import com.jetbrains.python.psi.PyImportElement;
+import com.jetbrains.python.psi.*;
+import com.jetbrains.python.psi.resolve.ResolveImportUtil;
 import org.jetbrains.annotations.NotNull;
+import org.jetbrains.annotations.Nullable;
 
 import java.util.List;
 
@@ -25,6 +24,14 @@ public class PyImportedModule extends LightElement implements NameDefiner {
     myImportedPrefix = importedPrefix;
   }
 
+  public PyFile getContainingFile() {
+    return myContainingFile;
+  }
+
+  public PyQualifiedName getImportedPrefix() {
+    return myImportedPrefix;
+  }
+
   @NotNull
   public Iterable<PyElement> iterateNames() {
     throw new UnsupportedOperationException();
@@ -32,29 +39,27 @@ public class PyImportedModule extends LightElement implements NameDefiner {
 
   public PsiElement getElementNamed(String the_name) {
     PyQualifiedName prefix = myImportedPrefix.append(the_name);
-    final List<PyImportElement> imports = ((PyFileImpl)myContainingFile).getImportTargets();
-    for (PyImportElement anImport : imports) {
-      final PyQualifiedName qName = anImport.getImportedQName();
-      if (qName != null && matchesPrefix(qName, prefix)) {
-        if (qName.getComponentCount() == prefix.getComponentCount()) {
-          return anImport;
-        }
-        return new PyImportedModule(myContainingFile, prefix);
+    final PyImportElement importElement = findMatchingImportElement(prefix);
+    if (importElement != null) {
+      final PyQualifiedName qName = importElement.getImportedQName();
+      if (qName != null && qName.getComponentCount() == prefix.getComponentCount()) {
+        return resolve(importElement, prefix);
       }
+      return new PyImportedModule(myContainingFile, prefix);
     }
     return null;
   }
 
-  private static boolean matchesPrefix(PyQualifiedName qName, PyQualifiedName prefix) {
-    if (qName.getComponentCount() < prefix.getComponentCount()) {
-      return false;
-    }
-    for (int i = 0; i < prefix.getComponentCount(); i++) {
-      if (!qName.getComponents().get(i).equals(prefix.getComponents().get(i))) {
-        return false;
+  @Nullable
+  private PyImportElement findMatchingImportElement(PyQualifiedName prefix) {
+    final List<PyImportElement> imports = ((PyFileImpl)myContainingFile).getImportTargets();
+    for (PyImportElement anImport : imports) {
+      final PyQualifiedName qName = anImport.getImportedQName();
+      if (qName != null && qName.matchesPrefix(prefix)) {
+        return anImport;
       }
     }
-    return true;
+    return null;
   }
 
   public boolean mustResolveOutside() {
@@ -77,4 +82,22 @@ public class PyImportedModule extends LightElement implements NameDefiner {
   public String toString() {
     return "PyImportedModule:" + myImportedPrefix;
   }
+
+  @NotNull
+  @Override
+  public PsiElement getNavigationElement() {
+    final PyImportElement importElement = findMatchingImportElement(myImportedPrefix);
+    if (importElement != null) {
+      final PsiElement element = resolve(importElement, myImportedPrefix);
+      if (element != null) {
+        return element;
+      }
+    }
+    return super.getNavigationElement();
+  }
+
+  @Nullable
+  private PsiElement resolve(PyImportElement importElement, final PyQualifiedName prefix) {
+    return PyUtil.turnDirIntoInit(ResolveImportUtil.resolveImportElement(importElement, prefix));
+  }
 }
diff --git a/python/src/com/jetbrains/python/psi/impl/PyQualifiedName.java b/python/src/com/jetbrains/python/psi/impl/PyQualifiedName.java
index 5e3428fb118a..0ab881420520 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyQualifiedName.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyQualifiedName.java
@@ -1,5 +1,6 @@
 package com.jetbrains.python.psi.impl;
 
+import com.intellij.openapi.util.text.StringUtil;
 import com.intellij.psi.stubs.StubInputStream;
 import com.intellij.psi.stubs.StubOutputStream;
 import com.intellij.util.io.StringRef;
@@ -62,6 +63,18 @@ public class PyQualifiedName {
     return true;
   }
 
+  public boolean matchesPrefix(PyQualifiedName prefix) {
+    if (getComponentCount() < prefix.getComponentCount()) {
+      return false;
+    }
+    for (int i = 0; i < prefix.getComponentCount(); i++) {
+      if (!getComponents().get(i).equals(prefix.getComponents().get(i))) {
+        return false;
+      }
+    }
+    return true;
+  }
+
   public static void serialize(@Nullable PyQualifiedName qName, StubOutputStream dataStream) throws IOException {
     if (qName == null) {
       dataStream.writeVarInt(0);
@@ -99,11 +112,8 @@ public class PyQualifiedName {
     return myComponents.get(myComponents.size()-1);
   }
 
+  @Override
   public String toString() {
-    StringBuilder sb = new StringBuilder();
-    Iterator<String> it = myComponents.iterator();
-    if (it.hasNext()) sb.append(it.next());
-    while(it.hasNext()) sb.append(".").append(it.next());
-    return sb.toString();
+    return StringUtil.join(myComponents, ".");
   }
 }
diff --git a/python/src/com/jetbrains/python/psi/impl/PyQualifiedReferenceImpl.java b/python/src/com/jetbrains/python/psi/impl/PyQualifiedReferenceImpl.java
index 9bd2a61212f8..abf93361daba 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyQualifiedReferenceImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyQualifiedReferenceImpl.java
@@ -143,7 +143,7 @@ public class PyQualifiedReferenceImpl extends PyReferenceImpl {
 
   @Override
   public boolean isReferenceTo(PsiElement element) {
-    if (super.isReferenceTo(element)) {
+    if (resolve() == element) {
       return true;
     }
     final String referencedName = myElement.getReferencedName();
diff --git a/python/src/com/jetbrains/python/psi/impl/PyReferenceExpressionImpl.java b/python/src/com/jetbrains/python/psi/impl/PyReferenceExpressionImpl.java
index f6bcdc32572c..ceb8b515a0b6 100644
--- a/python/src/com/jetbrains/python/psi/impl/PyReferenceExpressionImpl.java
+++ b/python/src/com/jetbrains/python/psi/impl/PyReferenceExpressionImpl.java
@@ -241,6 +241,9 @@ public class PyReferenceExpressionImpl extends PyElementImpl implements PyRefere
     if (target instanceof PyFile) {
       return new PyModuleType((PyFile) target);
     }
+    if (target instanceof PyImportedModule) {
+      return new PyImportedModuleType((PyImportedModule) target);
+    }
     if (target instanceof PyTargetExpression && context.allowDataFlow() && anchor != null) {
       final ScopeOwner scopeOwner = PsiTreeUtil.getParentOfType(anchor, ScopeOwner.class);
       if (scopeOwner != null && scopeOwner == PsiTreeUtil.getParentOfType(target, ScopeOwner.class)) {
diff --git a/python/src/com/jetbrains/python/psi/resolve/ResolveImportUtil.java b/python/src/com/jetbrains/python/psi/resolve/ResolveImportUtil.java
index beb2d3be0dda..58a967d996f7 100644
--- a/python/src/com/jetbrains/python/psi/resolve/ResolveImportUtil.java
+++ b/python/src/com/jetbrains/python/psi/resolve/ResolveImportUtil.java
@@ -68,6 +68,9 @@ public class ResolveImportUtil {
    */
   @Nullable
   public static PsiDirectory stepBackFrom(PsiFile base, int depth) {
+    if (depth == 0) {
+      return base.getContainingDirectory();
+    }
     PsiDirectory result;
     if (base != null) {
       base = base.getOriginalFile(); // just to make sure 
diff --git a/python/src/com/jetbrains/python/psi/types/PyImportedModuleType.java b/python/src/com/jetbrains/python/psi/types/PyImportedModuleType.java
new file mode 100644
index 000000000000..f18b8acc8cbb
--- /dev/null
+++ b/python/src/com/jetbrains/python/psi/types/PyImportedModuleType.java
@@ -0,0 +1,50 @@
+package com.jetbrains.python.psi.types;
+
+import com.intellij.codeInsight.lookup.LookupElement;
+import com.intellij.codeInsight.lookup.LookupElementBuilder;
+import com.intellij.psi.PsiElement;
+import com.intellij.util.ProcessingContext;
+import com.jetbrains.python.psi.PyImportElement;
+import com.jetbrains.python.psi.PyQualifiedExpression;
+import com.jetbrains.python.psi.impl.PyFileImpl;
+import com.jetbrains.python.psi.impl.PyImportedModule;
+import com.jetbrains.python.psi.impl.PyQualifiedName;
+
+import java.util.ArrayList;
+import java.util.List;
+
+/**
+ * @author yole
+ */
+public class PyImportedModuleType implements PyType {
+  private PyImportedModule myImportedModule;
+
+  public PyImportedModuleType(PyImportedModule importedModule) {
+    myImportedModule = importedModule;
+  }
+
+  public PsiElement resolveMember(String name) {
+    return myImportedModule.getElementNamed(name);
+  }
+
+  public Object[] getCompletionVariants(PyQualifiedExpression referenceExpression, ProcessingContext context) {
+    List<LookupElement> result = new ArrayList<LookupElement>();
+    final List<PyImportElement> importTargets = ((PyFileImpl)myImportedModule.getContainingFile()).getImportTargets();
+    final int imported = myImportedModule.getImportedPrefix().getComponentCount();
+    for (PyImportElement importTarget : importTargets) {
+      final PyQualifiedName qName = importTarget.getImportedQName();
+      if (qName != null && qName.matchesPrefix(myImportedModule.getImportedPrefix())) {
+        final List<String> components = qName.getComponents();
+        if (components.size() > imported) {
+          String module = components.get(imported);
+          result.add(LookupElementBuilder.create(module));
+        }
+      }
+    }
+    return result.toArray(new Object[result.size()]);
+  }
+
+  public String getName() {
+    return "PyImportedModuleType:" + myImportedModule.toString();
+  }
+}
diff --git a/python/testData/completion/py874.after.py b/python/testData/completion/py874.after.py
new file mode 100644
index 000000000000..39dd3f1cfa93
--- /dev/null
+++ b/python/testData/completion/py874.after.py
@@ -0,0 +1,2 @@
+import root.nested_mod
+root.nested_mod
diff --git a/python/testData/completion/py874.py b/python/testData/completion/py874.py
new file mode 100644
index 000000000000..75468149c486
--- /dev/null
+++ b/python/testData/completion/py874.py
@@ -0,0 +1,2 @@
+import root.nested_mod
+root.<caret>
diff --git a/python/testData/completion/root/__init__.py b/python/testData/completion/root/__init__.py
new file mode 100644
index 000000000000..e69de29bb2d1
diff --git a/python/testData/completion/root/nested_mod.py b/python/testData/completion/root/nested_mod.py
new file mode 100644
index 000000000000..e69de29bb2d1
diff --git a/python/testData/findUsages/QualifiedVsUnqualifiedUsages.py b/python/testData/findUsages/QualifiedVsUnqualifiedUsages.py
new file mode 100644
index 000000000000..9d096014131a
--- /dev/null
+++ b/python/testData/findUsages/QualifiedVsUnqualifiedUsages.py
@@ -0,0 +1,3 @@
+class Spam(object):
+    def eggs(self, parr<caret>ot):
+        self.parrot = parrot
diff --git a/python/testSrc/com/jetbrains/python/PyFindUsagesTest.java b/python/testSrc/com/jetbrains/python/PyFindUsagesTest.java
index 418627f79868..67cdcf73d77e 100644
--- a/python/testSrc/com/jetbrains/python/PyFindUsagesTest.java
+++ b/python/testSrc/com/jetbrains/python/PyFindUsagesTest.java
@@ -28,4 +28,9 @@ public class PyFindUsagesTest extends PyLightFixtureTestCase {
     final Collection<UsageInfo> usages = myFixture.testFindUsages("findUsages/ImplicitlyResolvedUsages.py");
     assertEquals(1, usages.size());
   }
+
+  public void testQualifiedVsUnqualifiedUsages() {  // PY-939
+    final Collection<UsageInfo> usages = myFixture.testFindUsages("findUsages/QualifiedVsUnqualifiedUsages.py");
+    assertEquals(1, usages.size());
+  }
 }
diff --git a/python/testSrc/com/jetbrains/python/PyMultiFileResolveTest.java b/python/testSrc/com/jetbrains/python/PyMultiFileResolveTest.java
index 28a3c73c35e2..7610bae14c50 100644
--- a/python/testSrc/com/jetbrains/python/PyMultiFileResolveTest.java
+++ b/python/testSrc/com/jetbrains/python/PyMultiFileResolveTest.java
@@ -168,7 +168,8 @@ public class PyMultiFileResolveTest extends PyLightFixtureTestCase {
 
   public void testNestedPackageElement() throws Exception {
     PsiElement element = doResolve();
-    assertTrue(element instanceof PyFile);
+    element = element.getNavigationElement();
+    assertInstanceOf(element, PyFile.class);
     assertEquals("__init__.py", ((PyFile) element).getName());
   }
 
diff --git a/python/testSrc/com/jetbrains/python/PyQuickFixTest.java b/python/testSrc/com/jetbrains/python/PyQuickFixTest.java
index 14ce4f23cccf..a46ef887a440 100644
--- a/python/testSrc/com/jetbrains/python/PyQuickFixTest.java
+++ b/python/testSrc/com/jetbrains/python/PyQuickFixTest.java
@@ -30,18 +30,29 @@ public class PyQuickFixTest extends PyLightFixtureTestCase {
 
   public void testQualifyByImport() throws Exception {
     final PyCodeInsightSettings settings = PyCodeInsightSettings.getInstance();
-    boolean oldValue = settings.PREFER_FROM_IMPORT;
+    boolean oldPreferFrom = settings.PREFER_FROM_IMPORT;
+    boolean oldHighlightUnused = settings.HIGHLIGHT_UNUSED_IMPORTS;
     settings.PREFER_FROM_IMPORT = false;
+    settings.HIGHLIGHT_UNUSED_IMPORTS = false;
     try {
       doInspectionTest(new String[]{"QualifyByImport.py", "QualifyByImportFoo.py"}, PyUnresolvedReferencesInspection.class, PyBundle.message("ACT.qualify.with.module"), true, true);
     }
     finally {
-      settings.PREFER_FROM_IMPORT = oldValue;
+      settings.PREFER_FROM_IMPORT = oldPreferFrom;
+      settings.HIGHLIGHT_UNUSED_IMPORTS = oldHighlightUnused;
     }
   }
 
   public void testAddToImportFromList() throws Exception {
-    doInspectionTest(new String[]{"AddToImportFromList.py", "AddToImportFromFoo.py"}, PyUnresolvedReferencesInspection.class, PyBundle.message("ACT.NAME.use.import"), true, true);
+    final PyCodeInsightSettings settings = PyCodeInsightSettings.getInstance();
+    boolean oldHighlightUnused = settings.HIGHLIGHT_UNUSED_IMPORTS;
+    settings.HIGHLIGHT_UNUSED_IMPORTS = false;
+    try {
+      doInspectionTest(new String[]{"AddToImportFromList.py", "AddToImportFromFoo.py"}, PyUnresolvedReferencesInspection.class, PyBundle.message("ACT.NAME.use.import"), true, true);
+    }
+    finally {
+      settings.HIGHLIGHT_UNUSED_IMPORTS = oldHighlightUnused;
+    }
   }
   // TODO: add a test for multiple variants of above
 
diff --git a/python/testSrc/com/jetbrains/python/PythonCompletionTest.java b/python/testSrc/com/jetbrains/python/PythonCompletionTest.java
index 0f3023400bc4..9795702315d2 100644
--- a/python/testSrc/com/jetbrains/python/PythonCompletionTest.java
+++ b/python/testSrc/com/jetbrains/python/PythonCompletionTest.java
@@ -95,4 +95,13 @@ public class PythonCompletionTest extends PyLightFixtureTestCase {
     myFixture.completeBasic();
     myFixture.checkResultByFile(testName + ".after.py");
   }
+
+  public void testPy874() throws Exception {
+    final String dirname = "completion/";
+    final String testName = dirname + "py874";
+    myFixture.configureByFile(testName + ".py");
+    myFixture.copyDirectoryToProject(dirname + "root", dirname + "root");
+    myFixture.completeBasic();
+    myFixture.checkResultByFile(testName + ".after.py");
+  }
 }
\ No newline at end of file