ECON235

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ECON235

Post-Socialist Economics in Transition ECON235 SP

Section	Class Size	*Available	Times
1	35	13	Times: .T.T... 1:10PM-2:30PM;

*The number of spaces listed as available is based on class seats open for the current phase of registration. Some seats may be taken in previous phases while others may be held out for subsequent phases of registration. (Last Updated on Wed Mar 4 05:00:40 EST 1998 )

Photo Caption and Credits

The transition of the formerly centrally planned and bureaucratically managed economies of the now defunct Soviet bloc to market economies based on private property and individual initiative is an event unparalled in history. The course begins with a characterization of the transition and an overview of progress to date in several countries. To analyze the macroeconomics of liberalization and stabilization, we study the Polish and Russian experiences. An essential cornerstone of the transition is a transfer of ownership from the state to private individuals. To analyze the microeconomic issue of enterprise privatization, we consider the experiences of the Czech Republic, Russia, and Poland. Finally, we examine the progress made in all four countries in financial sector development, including the privatization of state-owned banks, as the crucial ingredient to bringing the transition to an end and promoting long-term sustainable growth. Students are encouraged to investigate topics of special interest in a research exercise.

MAJOR READINGS

Janos Kornai, THE ROAD TO A FREE ECONOMY:
SHIFTING FROM A SOCIALIST SYSTEM - THE EXAMPLE OF HUNGARY,
W.W. Norton and Co., 1990
FROM PLAN TO MARKET: THE WORLD DEVELOPMENT REPORT 1996,
Oxford Univ. Press, 1996
Boycko, Maxim, Shleifer, Andrei, and Vishny, Robert,
PRIVATIZING RUSSIA, The MIT Press, 1996
Journal articles and other readings.

EXAMINATIONS AND ASSIGNMENTS

1. A short book review of Kornai. 2. Three position papers, one on each of the three aspects of transition identified in the course description. 3. A research exercise on a topic or country not covered in the course syllabus. No examinations.

ADDITIONAL REQUIREMENTS and/or COMMENTS

Please note that if you do not match one of the prerequisite listings EXACTLY, then you need a prerequisite override. Unless preregistered students attend the first class meeting or communicate directly with the instructor prior to the first class, they will be dropped from the class list. NOTE: Students must still submit a completed Drop/Add form to the Registrar's Office.

COURSE FORMAT: Lecture Discussion

REGISTRATION INFORMATION

Level: UG Credit: 1.00 Gen Ed Area & Dept: SBS ECON

Prerequisites: ECON111 and ECON112 or ECON105

Section 01: Bonin, J; Times: .T.T... 1:10PM- 2:30PM;; Grading Mode: Mixed; Registration Preference (1 high to 6 low, 0=Excluded) Sr: 1, Jr: 2, So: 3, Fr: 4; Major Preference Given

Last Updated on MAR-03-1998

About the Photo:

" 'We shall fulfill the decisions of the Party Congress' announces the 'new' communist man. Two passers-by take no notice... nor did most of the Russian economy. The centrally planned economy...was generally conceded to have failed."

Reference:

Pollard, Sidney, WEALTH AND POVERTY: AN ECONOMIC HISTORY OF THE TWENTIETH CENTURY, New York: Oxford University Press, 1990

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