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| code: | A3414 | studiebelasting: | 3 sp | periode: | sem. 2 | ||
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| naam: | Economic systems: Transition and development | ||||||
| internet: | homepage, rooster | ||||||
| opleiding/fase: | econ/d23/profiel, ectrie/d23/major | ||||||
| voertaal: | English | ||||||
| docent(en): | prof.dr. S. Cohen | ||||||
| contactpersoon: | prof.dr. S. Cohen | ||||||
| secretariaat: | AE/Micro | ||||||
| aanmelding: | - | ||||||
| toelatingseisen: | - | ||||||
| aanbevolen: | - | ||||||
| onderwijsvorm: | lecture sessions, 2 hours per week. The sessions will give opportunities for students to prepare discussion notes that elaborate on specific questions. |
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| tentamenvorm: | written take-home exam | ||||||
| tentamenperiode: | mei/juni | ||||||
| tentameneisen: | - | ||||||
| tentamenstof: | lecture material and selective literature | ||||||
The objective of the course is to give students theoretical and empirical knowledge on the functioning of alternative economic systems and their transformation, thereby enhancing the ability of the student to rise above the level of individual countries and analyse and generalise in global terms.
At the micro level, many economic organisations function as pure economic systems. At the national level, there are no countries, which can be described as such. However, countries driven by the economic motive, such as US, EU and Japan, have succeeded in moulding their institutions, markets, and state interventions into flourishing and sustainable economic systems. Other countries driven by political motives, such as the Soviet Union and its allies, failed to do so. They are now introducing economic rationality in their exchange system. In these and other countries, the pace, shape, and finality of the transition process are determined by past and perceived developments, both internal and external, as well as by crucial collective decisions with lasting impacts on prosperity and welfare.
The course starts with introducing definitions, principles and the benchmark case of a satisfactory mix between market forces and state intervention to remedy market failures as is commonly encountered in the economic systems of US and EU. Attention shifts then to failed economic systems in SU and allies. We discuss (a) the bases of socialist economic system, their realisation, problems and reforms; (b) the collapse of communist system and the recession. transition strategies, stabilisation phase, privatisation phase; (c) other transition problems such as unofficial economy, fiscal federalism and social adjustment; (d) reintegration in the world economy , especially the comparative achievements and entry of transition economies in EU; (e) alternative transitional paths such as in the economic system of China.
Some relevant analytical tools in the comparative evaluation of economic systems will be treated also. These include partial comparisons of efficiency and equity, and the more general framework of social accounting. This is used to evaluate the contrasting development performances of eastern and western Europe, and similarly Russia versus China.
Each lecture session will devote about half an hour for an open discussion of related questions to the treated topic. The questions will be distributed to the assigned students beforehand with suitable reading material for answering these questions.
Selected chapters from:
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