305 - Comparative Economic Systems
|TR 9:30 - 10:45 AM
Hours: TWR 1:00-1:50 PM
or email me
for an appointment
Paper Assignment is due December 6, 2012
ECON 305 examines the major
economic systems of the world,
in both theory and practice. The approach will generally focus on
a general understanding of how economic systems work and how economic
interacts with government policy, history, and culture to explain
performance. Economies examined in some detail will include
advanced market capitalist countries (e.g., the U.S., Japan, France,
and Germany), the former socialist economies (e.g, the former Soviet
Poland, and China), and other East Asian economies (e.g., South Korea
North Korea). We will also consider Iran as an example of an
economy, and India as an example of an isolationist country that is now
beginning to join the global economy.
study in economics (ECON 102 and 103) is
required, but this course
will be less quantitative than other theory courses. As a course which
spends substantial time focused on the diversity of economies, ECON 305
meets the diversity
of the University
. One component of the diversity requirement
is a rigorous
If you want to know why it is important to learn the material in this
course, you might view this You-Tube video called, Americans
are not stupid
. I find it more painful than funny, and I hope
that it is not a statistically valid sample of my fellow Americans.
- Rosser, J.B., & M.V. Rosser (2004), Comparative Economics in a Transforming
World Economy, 2nd edition (MIT Press). ISBN
- Bernstein, William J. (2004), The
Birth of Plenty: How the Prosperity of the Modern World was
Created (McGraw-Hill, paperback). ISBN 0071747044.
- De Soto, Hernando (2003), The
Mystery of Capital: Why Capitalism Triumphs in the West and Fails
Else (Basic Books, paperback). ISBN 0465016154.
|These books are available at
in Joe Crowley Student Union (JCSU), which will also do comparisons for
readings listed in the schedule will generally be available
online, or in the library at the reserve desk,
next to the
main checkout desk.
This course requires a
of writing, and your
ability to express yourself clearly in writing will significantly
your grade.Grading will depend on:
- Three Exams
(two midterms and a final) -- each worth 20%. The midterms
are scheduled for October 2 and November 20, and the final will be on
Tuesday, December 18, 12:30-2:30 PM.
- One-Minute Essays --
Papers -- each worth 10%.
- Participation (including
events) -- worth 10%.
will be long, in-class, closed-book, mostly
essay exams, requiring both an ability to express yourself in writing
a good understanding of the lectures and the assigned readings.
You will find them challenging. Papers
will be assigned at least two weeks in advance of their due dates,
are expected to be in formal APA academic style.
They will require additional research. One-Minute Essays
will be due at the end of class each day. I will usually want
you to tell me something interesting
learned from the lecture, but sometimes I may ask other questions.
For study purposes, here are some of my old exams:
is the Difference
between A and C students?
includes both copying someone else's
work as well as letting your work be copied, bringing in notes, text
messaging or taking pictures of the exam, plagiarizing other
people's words or ideas and passing them off as your own, et
cetera. One common example is a student who copies whole sentences
even paragraphs from an internet source, perhaps changing a few words
there. Even if you then cite the source, it is still
plagiarism if you do not put quote marks around the words you borrowed.
will be severely punished,
ranging from failing
the exam or assignment at a minimum to failing the course and even
the university, in egregious cases or in cases where there is evidence
of any prior offenses. Students who are caught cheating also
their chance at college scholarships.
I am serious
as a heart
attack about this. Every semester I catch somebody doing this who
them claims ignorance of what is and isn't cheating, and I am tired of
Academic Success Services:
fees cover usage of
(784-6801), and University Writing Center
centers support your classroom learning; it is your responsibility to
take advantage of their services. Keep in mind that seeking help
outside of class is the sign of a responsible and successful student.
Audio and Video Recording:
or covert video-taping of class or unauthorized audio
recording of class is prohibited by law and by Board of Regents
class may be videotaped or audio recorded only with the written
the instructor. In order to accommodate students with
some students may be given permission to record class lectures and
discussions. Therefore, students should understand that their comments
during class may be recorded.
School and Work:
is essentially about making decisions when resources are scarce, and
time is often our most scarce resource. Many of you work, but
too much while going to school makes it hard to focus on your studies
and succeed in school. The College of Business Administration
recommends the following maximum relationship between work and
Hours Per Week
Taken per Semester
recommendations work both ways. For example, a student
hours per week should not take more than 15 credits and conversely, a
student who is taking 15 credits should not work more than 10 hours per
week. Of course, many of you will choose to exceed these
you should know that unless you have superpowers or take extremely easy
courses, you are setting yourself up for lower grades, inadequate
sleep, or other trouble. If you do not have scholarships or
means of support, then you might consider taking fewer credits per
semester and an extra year or two to graduate.
Students with Disabilities:
Any student who qualifies with a
disability is to provide his or her instructor with a letter from the
Disability Resource Center stating the appropriate accommodations for
this course. If you have a documented disability and wish to discuss
how these academic accommodations will be implemented for this course,
please contact the instructor during the first two weeks of class.
OF READINGS AND LECTURES
I. INTRODUCTION TO COMPARATIVE
The Classification and Comparison
of Economic Systems
THE ECONOMIC THEORY OF CAPITALISM (4 lectures)
Read Rosser & Rosser,
chapter 1. Angus
has an impressive review of the last two thousand years of economic
including history and many tables full of population and GDP
This OECD publication, The
World Economy: A Millennial Perspective (2001) is
and in the library, though you must get the proper permissions to
it since it is only available to UNR faculty, students, and staff.
B. The Roots of Modern
Lectures for Section I.A.
lectures for Section I.A.
1. The Historical
C. The Institutions and Issues
Read the first section of
for Section I.B.1
Marxist, Neoclassical, and Evolutionary
Theories of Economic Change
Read Rosser & Rosser,
chapter 5. For an
introduction, albeit simple, to the market
economy, see What
is a Market Economy, by Michael Watts, produced in
the Joint Council on Economic Education. See my presentation on
the current economy: Parker NSF Presentation (PDF).
for Section I.C
The Microeconomic Efficiency of the
The Five Theorems.
The Austrian Critique. International Trade and Finance.
Read Rosser & Rosser, chapter 2;
the entire book by de Soto; the classic
article by Hayek, F.A.
use of knowledge in society," American Economic
519-30 (online); and my lecture
notes on market efficiency, market failure, government intervention and
B. Macroeconomic Depressions
C. Market Failure, Government
the Problem of Social Choice
Read my lecture
notes on social choice. Also check out Serendip's simulation
of a Prisoner's
Dilemma game to understand this very important model of
III. EUROPEAN CAPITALISM (5
A. The European Union (
B. Capitalism in Great Britain
and Ireland ( Lecture)
State-Directed Capitalism ( Lectures)
& Rosser, chapter 7.
Swedish Corporate Capitalism
Rosser & Rosser, chapter 8.
E. Social Market Capitalism
in the Federal Republic of
Rosser & Rosser, chapter 9.
SOCIALISM IN THEORY AND PRACTICE (5 lectures)
A. The Marxist-Leninist
Critique of Capitalism ( Lecture)
B. Theories of the
Revolution and Central Planning in
the Soviet Economy ( Lecture)
& Rosser, chapter 10-11.
Socialism in Hungary, Poland, Czechoslovakia and
Yugoslavia ( Lecture)
& Rosser, chapter 12-14.
V. ECONOMIC REFORM AND
TRANSITION (3 lectures)
A. Problems of
Reform and Transition
B. Transition in
C. The Troubled
Transition of the Russian Economy ( Lecture)
EXAM -- SCHEDULED
FOR TUESDAY, NOVEMBER 20 (KEY)
VI. THE ASIAN
ECONOMIES (5 lectures)
of China's Socialist Market Economy
Read Rosser & Rosser,
chapter 15; my MGRS
470 lecture on China; Parker, E. (1995a), "Prospects
for the state-owned enterprise in China's Socialist Market Economy,"Asian
Perspective 19,1: 7-36; Parker, E. (1995b), "Schumpeterian
creative destruction and the growth of Chinese enterprises,"China
Economic Review 6,2: 201-224 (on reserve), and Cargill, T.,
Parker (2001), "Financial
liberalization in China: Limitations and lessons of the
Regime," Journal of the Asian-Pacific Economy
6,1: 1-21 (on
B. Boom and Bust
in Japan (Lecture)
Rosser & Rosser, chapter 6; and my EC403
Lecture on Japanese development through WWII.
C. The Four Tigers:
Hong Kong, Singapore, Taiwan, and South Korea (Lecture)
D. The 1997 Asian Financial
Crisis in Thailand,
Malaysia, Indonesia, and Elsewhere
India's Experiment with
Rosser & Rosser, chapter 16.
F. Stagnation in
Rosser & Rosser, chapter 19; and Cargill,
T.F., & E. Parker (2011), "Economic reform and alternatives for
North Korea," in The Survival of North Korea, edited
by S.H. Kim, T. Roehrig, & B. Seliger.
FOR TUESDAY, DECEMBER 18,
|The San Francisco Fed
has a good site summarizing the great
economists and their times (including the major schools of
thought). You can find the written works of Marx
and Engels online, as well as a site devoted to the works of Friedrich
Hayek. See also the economics
section of the Idea Channel.
Listserver / Newsgroup
will set up a "List Service" mailing list
for the purpose
of conducting group discussions via email. If you find that you are not
from me, e-mail me to tell me and I will add you to the list.
you are on the list and still not receiving messages, please check your
spam filter since list messages are often blocked.
actually subscribed to the list may send
to the list. The message
you send will go
to everybody who has subscribed, including me. Try to keep
down. Be thoughtful of others, keep on the subject as much as
and do not carry on private, irrelevant conversations on the
If you wish to make a reply to an individual, be careful not to send a
copy to the list. Also, do not flame!
Give other students
the respect you would demand of them; do not insult them explicitly or
implicitly, and do not say anything vulgar or improper.
that I will read your messages, and even if you send something to an
it is easy for him or her to forward it on to me.
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