For Printing: one-page Short Syllabus

Second 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 encouraging a general understanding of how economic systems work and how economic theory interacts with government policy, history, and culture to explain economic performance. Economies examined in some detail will include several advanced market capitalist countries (e.g., the U.S., Japan, France, Sweden, and Germany), the former socialist economies (e.g, the former Soviet Union, Poland, and China), and other East Asian economies (e.g., South Korea and North Korea). We will also consider Iran as an example of an Islamic-based economy, and India as an example of an isolationist country that is now beginning to join the global economy.

Prior 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 requirement of the University Core Curriculum. One component of the diversity requirement is a rigorous writing requirement.

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.

	BOOKS: Rosser, J.B., & M.V. Rosser (2004), Comparative Economics in a Transforming World Economy, 2nd edition (MIT Press). ISBN 0262182343. 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 Everywhere Else (Basic Books, paperback). ISBN 0465016154.
These books are available at the ASUN Bookstore in Joe Crowley Student Union (JCSU), which will also do comparisons for you. Other 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 significant amount of writing, and your ability to express yourself clearly in writing will significantly affect 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 -- worth 10%.
• Two Papers -- each worth 10%.
• Participation (including events) -- worth 10%.

Exams will be long, in-class, closed-book, mostly essay exams, requiring both an ability to express yourself in writing and 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, and 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 you learned from the lecture, but sometimes I may ask other questions.

For study purposes, here are some of my old exams:

Fall 2006:  first exam key, second exam (key), final exam key
Fall 2008:  first exam key, second exam (key), final exam key
Fall 2010:  first midterm key, second midterm (key) , final exam (key)

What is the Difference between A and C students?

Cheating:

Cheating 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 and even paragraphs from an internet source, perhaps changing a few words here and there. Even if you then cite the source, it is still plagiarism if you do not put quote marks around the words you borrowed.

Any cheating will be severely punished, ranging from failing the exam or assignment at a minimum to failing the course and even expulsion from the university, in egregious cases or in cases where there is evidence of any prior offenses. Students who are caught cheating also lose 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 it.

Academic Success Services:

Your student fees cover usage of the Math Center (784-4433), Tutoring Center (784-6801), and University Writing Center (784-6030). These 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:

Surreptitious or covert video-taping of class or unauthorized audio recording of class is prohibited by law and by Board of Regents policy. This class may be videotaped or audio recorded only with the written permission of the instructor. In order to accommodate students with disabilities, 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:

Economics is essentially about making decisions when resources are scarce, and time is often our most scarce resource. Many of you work, but working 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 school:

Work Hours Per Week	Credits Taken per Semester
10	15
20	12
30	9
40	6

These maximum recommendations work both ways. For example, a student working 10 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 maxima, but 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 other 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.

SCHEDULE OF READINGS AND LECTURES I.  INTRODUCTION TO COMPARATIVE ECONOMIC SYSTEMS (6 lectures) A.  The Classification and Comparison of Economic Systems Read Rosser & Rosser, chapter 1. Angus Maddison has an impressive review of the last two thousand years of economic growth, including history and many tables full of population and GDP estimates.  This OECD publication, The World Economy: A Millennial Perspective (2001) is available online and in the library, though you must get the proper permissions to access it since it is only available to UNR faculty, students, and staff. Lectures for Section I.A. More lectures for Section I.A. B.  The Roots of Modern Economic Systems 1.  The Historical Development of Capitalism Read the first section of Bernstein's book.  Lectures for Section I.B.1 2.  Classical, Marxist, Neoclassical, and Evolutionary Theories of  Economic Change Read my lecture notes on economic change, and you could also review the New School's website on the Classical Ricardian School.  Read also my lecture notes on growth and evolution, and see Schumpeter, J.A. (1942), Capitalism, Socialism, and Democracy.  Also, just for fun, you might want to check out Serendip's version of Conway's Game of Life to get a sense of how mathematicians might simulate chaotic interactions without using math. Lectures for Section I.B.2 C.  The Institutions and Issues of the United States' Economy 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 cooperation with the Joint Council on Economic Education.  See my presentation on the current economy: Parker NSF Presentation (PDF). Lectures for Section I.C II.  THE ECONOMIC THEORY OF CAPITALISM (4 lectures) Lectures for Section II A.  The Microeconomic Efficiency of the Market  The Five Theorems.  Market Distortions.  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. (1945), "The use of knowledge in society," American Economic Review 35,4: 519-30 (online); and my lecture notes on market efficiency, market failure, government intervention and public failure. B.  Macroeconomic Depressions and Recessions See my presentation on the Depression of 2008-2009. C.  Market Failure, Government Intervention, and 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 cooperation versus self-interest. FIRST EXAM -- SCHEDULED FOR TUESDAY, OCTOBER 2 III.  EUROPEAN CAPITALISM (5 lectures)   For each country below, read the report in the U.S. State Department's Country Background Report and the CIA's World Factbook. A.  The European Union  ( Lecture) B. Capitalism in Great Britain and Ireland  ( Lecture) C.  French State-Directed Capitalism  ( Lectures) Read Rosser & Rosser, chapter 7. D.  Swedish Corporate Capitalism Read Rosser & Rosser, chapter 8. E.  Social Market Capitalism in the Federal Republic of Germany Read Rosser & Rosser, chapter 9. IV.  SOCIALISM IN THEORY AND PRACTICE  (5 lectures)   A.  The Marxist-Leninist Critique of Capitalism  ( Lecture) Read Rosser & Rosser, chapter 3; The Communist Manifesto, by Karl Mark and Friedrich Engels (1848); and review the New School's website on the Marxian School.  Also see my lecture notes on Marx. B.  Theories of the Classical Socialist Economy Read my lecture notes on Material Balance Planning; and Kornai, J. (1992), The Socialist System:  The Political Economy of Communism, ch. 15.  See also the New School's Essay on The Socialist Calculation Debate. C.  Revolution and Central Planning in the Soviet Economy ( Lecture) Read Rosser & Rosser, chapter 10-11. D.  Socialism in Hungary, Poland, Czechoslovakia and  Yugoslavia ( Lecture) Read Rosser & Rosser, chapter 12-14. V.  ECONOMIC REFORM AND TRANSITION  (3 lectures) A.  Problems of Economic Reform and Transition B.  Transition in Central and Eastern Europe C.  The Troubled Transition of the Russian Economy ( Lecture) SECOND EXAM -- SCHEDULED FOR TUESDAY, NOVEMBER 20 (KEY) VI.  THE ASIAN ECONOMIES (5 lectures) A.  The Development of China's Socialist Market Economy  ( Lecture) 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., & E. Parker (2001), "Financial liberalization in China:  Limitations and lessons of the Japanese Regime," Journal of the Asian-Pacific Economy 6,1: 1-21 (on reserve). B.  Boom and Bust in Japan  (Lecture) Read 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 E.  India's Experiment with Self-Sufficiency Read Rosser & Rosser, chapter 16. F.  Stagnation in North Korea Read  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. FINAL EXAM SCHEDULED FOR TUESDAY, DECEMBER 18, 12:30-2:30 PM

The San Francisco Fed has a good site summarizing the great economists and their times (including the major schools of economic 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.

ECON305 Listserver / Newsgroup

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