The course analyzes challenges faced by transition and emerging-market economies, i.e., those middle- and low-income countries, which have conducted market-oriented economic reforms and become integrated into the global economy since 1990s. It starts from a brief history of communist economic system based on central planning in the former Soviet Union and Central and Eastern Europe, its evolution and collapse at the end of 1980s/ early 1990s and subsequent transition to a market system in 1990s and 2000s.
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Then it analyzes experience of market reforms in China, India, other Asian countries, Middle East and North Africa, Sub-Saharan Africa and Latin America at the same period. Finally, it discusses the problems of contemporary global economy and global and regional economic governance with the special focus given to emerging-market economies and their role.
By the end of the course you will be able to analyse emerging-market economies and economies in transition, taking into account their crucial characteristics and historical experience.
Participation in the course does not require any preconditions, however, basic economic knowledge would be an advantage.
In order to pass successfully this course you must score not less than 80% for each of six after module quizzes and complete the peer-assessed essay at the end of the course.
Syllabus
WEEK 1
Introduction
Centrally planned economy: its origins, evolution and collapse
Dear Students, In this module we will discuss the origins of a centrally planned economy, its major characteristics, evolution, attempts of its reform and history of its collapse, agenda of market transition in 1990s and its major components such as macroeconomic stabilization, domestic and external liberalization, and privatization.There will be 7 parts of video-lectures of 7-25 minutes length. You can use recommended literature to go deeper in learning this module. After you watch the video-lectures you are to complete the first quiz. We look forward to seeing you in class! Best wishes,Your course team.
WEEK 2
Post-communist transition and its outcomes
Dear Students, In this week we will discuss political economy of transition, controversies over a transition strategy, and first results of transition (at the end of 1990s), interrelations between market and democracy, and between economic and political transition, and the role of external actors in transition process.There will be 5 parts of video-lectures of 7-25 minutes length. You can use recommended literature to go deeper in learning this module. After you watch the video-lectures you are to complete the second quiz. We look forward to seeing you in class! Best wishes,Your course team.
WEEK 3
The role of external actors in post-communist transition and economic reforms in Asia
Dear students, In this module we will discuss the role of external actors (IMF, World Bank, WTO, EU, etc.) in economic and political transition in Central and Eastern Europe and former Soviet Union, cumulative results of transition in early/mid 2010s, specifics of Chinese economic transition and its major stages, market reforms in other Asian countries (Vietnam, Laos, Cambodia, Myanmar, Mongolia, India). There will be 5 parts of video-lectures of 7-25 minutes length. You can use recommended literature to go deeper in learning this module. After you watch the video-lectures you are to complete the third quiz. We look forward to seeing you in class! Best wishes, Your course team.
WEEK 4
Market reforms in the Arab world, Sub-Saharan Africa and Latin America
Dear students, In this module we will discuss market reforms in the Arab world (including the period of Arab Spring), Sub-Saharan Africa, Latin America, summary of emerging-market reforms since 1980s.There will be 5 parts of video-lectures of 7-25 minutes length. You can use recommended literature to go deeper in learning this module. After you watch the video-lectures you are to complete the fourth quiz. We look forward to seeing you in class! Best wishes,Your course team.
WEEK 5
Emerging markets and their role in global economy
Dear students, In this module we will discuss causes and consequences of emerging market-crises in 1980s and 1990s, impact of the global financial crisis of 2008-2009 on emerging-market economies, the increasing role of emerging-market economies in the global economy.There will be 5 parts of video-lectures of 15-25 minutes length. You can use recommended literature to go deeper in learning this module. After you watch the video-lectures you are to complete the fifth quiz. You also have an obligatory peer assessed essay assignment in this module. See the relevant section for further details. We look forward to seeing you in class! Best wishes, Your course team
WEEK 6
EMEs, globalization and international trade
Dear students, In this module we will discuss consequences of globalization, changes in international financial institutions, emerging-market economies and global and regional trade systems.There will be 5 parts of video-lectures of 12-20 minutes length. You can use recommended literature to go deeper in learning this module. After you watch the video-lectures you are to complete the sixth quiz. We look forward to seeing you in class! Best wishes,Your course team.
