Transition to Market Economies (3) Economics of transition to a market economy; problems of former Soviet-type economies; privatization, stabilization, and institutional change.
ECON 472 Transition to Market Economies (3)
(BA) This course meets the Bachelor of Arts degree requirements.
With the demise of communism in Central and Eastern Europe, former socialist economies are in the process of transition from centrally-planned to market economies. Transition is a comprehensive change, involving all aspects of the economy, including labor markets, capital markets, and the organization of industry, especially privatization. The focus of this course is on the experience of economies in transition and the problems encountered. Special emphasis will be given to the experience of Russia and the other countries of the former Soviet Union. In addition to Central Europe and the former Soviet Union, we will also examine the experience of China.
The broad objectives of the course are to provide students with economic analyses of the wide range of issues that arise in considering economies in transition, and to assess the record on transition. The course will examine the following topics: the legacy of central planning; how to organize transition; macroeconomic stabilization in transition economies; privatization; restructuring, ownership change, and improvements in performance; and institutional development and transition. In addition, the concluding section of the course will examine the record transition.
As a 400-level course in economics, this course may be used to meet requirements for the major and for the minor in economics. It requires ECON 302 or ECON 304 (intermediate microeconomic theory and intermediate macroeconomic theory, respectively) as a prerequisite. And the course may be used toward completing a module (area of concentration) in economics in the area of International, Development, and Transition Economics.
Note : Class size, frequency of offering, and evaluation methods will vary by location and instructor. For these details check the specific course syllabus.