Current Issues in Global Economy

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Current Issues in Global Economy


Lecturer: Jongsung Kim, Professor of Economics, Bryant University, USA

Dates & Times: Monday, July 13 – Friday, July 17, 2015 from 9 a.m. to 12 p.m.

Course Description:

This course will cover important current economic issues and problems in three major East Asian countries: China, Japan and Korea. We will examine the underlying economic theories and motivators that gave impetus to those issues and problems in these countries. The primary goal of this course is for students to gain knowledge and understand the fundamental characteristics of East Asian economies, their remarkable long-term growth performance as well as challenges they have recently faced –a slower economic growth for China and Korea, and a decade of stagnation for Japan.

Course Outline:

The course will cover the following topics among others (subject to change)


Topics to be covered


Introduction to China, Japan and Korea

Economic foundations, both micro and macro

Gross Domestic Product

Macroeconomic indicators in East Asian economies

Demographics in East Asia


Economic development and growth in Korea

Understanding Korea's Growth: Past, Present, and Future

The East Asian model of economic policy

The 1997 Asian Financial Crisis

Household Debt in Korea


Economic development and growth in China

Understanding China's Growth: Past, Present, and Future

Why are saving rates so high in China?

Budget deficit and capital flight


Economic development and growth in Japan

Plaza Accord and Japanese Yen

Abenomics and the Japanese economy

Why are saving rates so low in Japan?


Inequality in East Asian economies

Aging population in East Asia

Other current issues/problems in East Asian economies


  • N. Gregory Mankiw’s Principle of Economics (7th edition, 2015, Cengage Learning) will be the primary source of literature used to address the basic micro and macroeconomic foundations referenced in this course. This, however, does not preclude or invalidate any standard textbooks of Principles of Economics that are routinely used elsewhere. (A free version of textbook is can be accessed by using the following link in the next section).

  • Principles of Economics, Saylor Foundation.

This Creative Commons-licensed text book is freely available for downloading, online reading and sharing (Courtesy of Saylor Foundation) at

  • Slides for course materials and the links for supplement readings will be provided as the course progresses.


Lecturer: Univ.-Prof. Dr. Oliver Fabel, M.A., University of Vienna, Austria

Dates & Times: July 20 – 24, 2012; Mo. – Fr., 9 -12 a.m.

Course Description:

This course will critically examine the nature of the contemporary global economy. It is designed to familiarize students with the broad parameters of economic thought and will take into account numerous methodological and theoretical perspectives. Included in this examination will be a look at the major economic theories, the structures of the global economy, and major current global issues/problems.

Course Outline:

The course will cover the following topics:

  1. “Laissez-Faire:” The Economic Liberal Perspective

  2. Wealth and Power: The Mercantilist Perspective

  3. Economic Determinism and Exploitation: The Structuralist Perspective

  4. International Production & Trade

  5. Global Finance: A Beginners Guide


The topic lists follows chapters 1 – 4 and 6 – 7 of the textbook:

Introduction to International Political Economy, 6th ed., David N. Balaam, Bradford Dillman, Pearson, 2013.

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