Emerging markets economics

Aims of the course

The course will begin with a quick review of some of the major issues in globalization. Then we will carefully read a number of papers on the impact of emerging markets on the wealthy countries. These papers provide an opportunity to look at state-of-the-art methodologies in economics. We will follow with a series of papers on economic growth, from the role of mineral wealth to financial instability to opportunities for the world's poorest. The last third of the course will cover specific regions, such as China vs. India comparisons, the Middle East and Latin America, and some narrower topics, such as microenterprises and microcredit.

Course syllabus

Emerging markets are markets of the economies that are no longer closed off from the world market and have in the past few decades partially due to intensive participation in world economic flows and mainly due to successful domestic policy reform recorded very good economic results. Developing and developed economies are becoming more and more interdependant due to enhanced globalization forces and therefore a deeper understanding of the development mechanisms of emerging markets can help understand current global economic changes better. Experiences of emerging markets can help answer critical questions like what prospects third world countries have in a competitive world economy; what sorts of policies can most effectively promote growth in third world countries; what caused the collapse of command socialism and what policies to recommend in the transition away from command socialism; what is the trade-off between equity and growth in diverse countries; what is the proper role of free markets in diverse countries; how international institutions should manage the world economy; the relationship between culture and economic performance; how to manage the transition from socialism to communism and where and under what conditions is democracy desirable — among other questions. The purpose of the course is to analyze the development models of these economies and answer the questions above. Also, a deeper understanding of the past experience will enable us to speculate on future development, the risks and opportunities.

Course director(s)

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  • Office Hours
  • Wednesday at 9:00 in R-302
  • To avoid waiting in front of the door for your turn, please send an email, I will try to give you a more detailed time slot.
  • ATTENTION:
 
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