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Salisbury University

Perdue School of Business

Department of Economics and Finance

ECON402 P. LeBel

Comparative Economic Systems Spring 2012

MW12:00-13:15



Course Objectives
Microeconomic analysis explores in detail the nature of economic decisions of individual units within the overall economic system. Combining theory with contemporary applications, it examines the nature and consequences of differing market structures in order to determine the conditions under which market pricing satisfies or fails to satisfy alternative policy criteria. In so doing, the student acquires key analytical skills with which to assess the relative merits of contemporary policy issues. Descriptive, geometric, and elementary quantitative methods will be used throughout the course. Class sessions, which are based on a student's prior reading of assigned materials, require a significant degree of student participation.
A student who has completed this course is expected to demonstrate a mastery of essential concepts and analytical skills in several key areas. The most important of these areas are:


  1. A general framework for the evaluation of comparative economic systems that includes specific policy criteria, and how these criteria relate to existing international public policy institutional standards, including, but not limited to, the World Bank, the UNDP, the IMF, and other international agencies.




  1. The role of economic and econometric models in evaluating comparative economic systems, with particular emphasis on such criteria as economic growth, risk and the choice of institutions, and how the distribution of income is addressed in alternative economic systems, with due specification of alternative distributive welfare criteria.




  1. An examination of a generic constellation of alternative economic systems ranging from pure market economics, to mixed economic systems, and to centrally planned economies under alternative varieties of socialist constitutions.




  1. A detailed examination of selected comparative systems based on individual country profiles that includes the United States, France, Germany, Poland, Hungary, Czechoslovakia, the former Yugoslavia, the former Soviet Union, India, Japan, China, and Iran, among others.



Course Format

Descriptive, geometric, and elementary quantitative methods will be used throughout the course. Class sessions, which are based on a student's prior reading of assigned materials, require a significant degree of student participation. Extensive use will be made of the course website, located at:


http://msuweb.montclair.edu/~lebelp/ComparativeEconomicSystems.html
The student’s knowledge in each of the above areas will be tested in a mid-term and final examination, in designated student classroom presentations, a research term paper, and in periodic case studies. A student who has successfully mastered both theory and methodological applications in these areas will be well prepared to pursue both direct career experience, as well as continuing study in Economics and/or related fields.
Salisbury University

Perdue School of Business

Department of Economics and Finance

ECON402 P. LeBel

Comparative Economic Systems Spring 2012

MW12:00-13:15


Syllabus
Text: J. Barkley Rosser, Jr., and Marina V. Rosser. Comparative Economics in a Transforming World Economy, 2nd edition. (Cambridge, Mass.: MIT Press).
Readings on Reserve:
Acharya, Shankar (2010). "Ten Myths of Indian Economic Policy," (London: Financial Times Economists Forum).

Allman, William F.(1985).,”Determining Risks with Statistics – and with Humanity,” Science 85/Baltimore Sun, October 13, 1985, p. 50.

Arrow, Kenneth J., “The Organization of Economic Activity: Issues Pertinent to the Choice of Market versus Non-Market Activity,” in Mansfield Readings, (437-455).

Arrow, Kenneth J.(1997), “Invaluable Goods,” Journal of Economic Literature XXXV (June): 757-765.

Arrow, Kenneth J. (1998), “What Has Economics to Say About Racial Discrimination,” Journal of Economic Perspectives 12:2 (Spring): 91-100.

Atkinson, Anthony B. (1987). “On the Measurement of Poverty,” Econometrica 55:4 (July), 749-764.

Audretsch, David B. (2010), "German Economic Policy, (Bloomington, Indiana: Indiana University Institute for Development Strategies).

Bator, Francis M. (1958). “Anatomy of Market Failure,” Quarterly Journal of Economics, 72(3): 351-379.

Bean, Jonathan (1997). "Nikolai Bukharin and the New Economic Policy – A Middle Way?" The Independent Review II(1): 1-20

Bernouilli, Daniel (1954, 1738). “Exposition of a New Theory on the Measurement of Risk,” Econometrica 22:2 (January), 23-36.

Bernstein, Eduard (1965,1932). "Introduction", Evolutionary Socialism. (New York: Schocken Books).

Canales-Kriljenko, Jorge Iván, Luis I. Jácome, Ali Alichi, and Ivan Luis de Oliveira Lima (2010). "Weathering the Global Storm: The Benefits of Monetary Policy Reformin the LA5 Countries," Working Paper 292. (Washington, D.C.: International Monetary Fund).

Chamon, Marcos, Kai Liu, and Eswar Prasad (2010). "Income Uncertainty and Household Savings Behavior in China," Working Paper 289. (Washington, D.C.: International Monetary Fund, December).

Cipriani, Marco, and Antonio Guarino (2010). "Estimating a Structural Model of Herd Behavior in Financial Markets," Working Paper 288. (Washington, D.C.: International Monetary Fund).

Coase, Ronald H (1937). “The Nature of the Firm,” Economica, New Series 4:16 (November), 386-405.

Coase, Ronald H. (1960), “The Problem of Social Cost”, Journal of Law and Economics (October), 1-44.

Conlisk, John (1996). “Why Bounded Rationality?” Journal of Economic Literature XXIV:2 (June), pp. 669-700.

Dean, Jason, Andrew Browne, and Shai Oster (2010). "China's 'State Capitalism' Sparks a Global Backlash," The Wall Street Journal, November 16, 2010.

Dixit, Avinash, and Robert Pindyck (1994), Investment Under Uncertainty (Princeton, NJ: Princeton University Press).

Downs, Anthony (1957). “An Economic Theory of Political Action in a Democracy,” Journal of Political Economy I, 65:2 (April), 135-150.

Friedman, Milton and Leonard J.Savage (1948). “The Utility Analysis of Choices Involving Risk,” Journal of Political Economy I 56:4 (August), 279-304).

Gaidar, Yegor (2007), "The Soviet Collapse: Grain and Oil," Issues Paper. (Washington, D.C.: American Enterprise Institute, April).

Holcombe, Randall G. (2010). "South Korea's Economic Future: Industrial Policy, or Economic Democracy," (Tampa, Florida: University of South Florida).

Holmstrom, Bengt, and John Roberts. “The Boundaries of the Firm Revisited,” Journal of Economic Perspectives 12:4 (Fall 1998): 73-94.

Huntington, Samuel P. (1993). "The Clash of Civilizations?" Foreign Affairs 72(3): 1-22.

Ilias, Shayerah (2010). "Iran's Economic Conditions: U.S. Policy Issues," (Washington, D.C.: Congressional Research Service Report).

Kakwani, Nanak C. (1977). “Applications of Lorenz Curves in Economic Analysis,” Econometrica 45:3 (April), 719-728.

Kolodko, Grzegorz (1993). "From Output Collapse to Sustainable Growth in Transition Economies: The Fiscal Implications," Working paper No. 35. (Warsaw, Poland: Institute of Finance).

Kornai, János (1998). "The System Paradigm," Working Paper Number 278. (Washington, D.C.: International Monetary Fund, April).

Levy, Jonah D., Mari Miura, and Gene Park (2003). "Exiting Etatisme? New Directions in State Policy in France and Japan," workshop paper on New State Activities in the Age of Globalization. (Berkeley, California: University of California Berkeley).

Marx, Karl, and Frederick Engels (1848). "Manifesto of the Communist Party," (Moscow: Progress Publishers, 1969, 1848).

Nanto, Dick K., and Emma Chanlett-Avery (2010). "North Korea: Economic Leverage and Analysis," (Washington, D.C.: Congressional Research Service Report).

Pareto, Vilfredo (1897). “The New Theories of Economics,” Journal of Political Economy 5:4 (September), 485-502.

Parkinson, C. Northcote (1955). “Parkinson’s Law”, in Mansfield, Managerial Economics Readings, (63-70).

Polanyi, Karl (1944). "Societies and Economic Systems," excerpts from The Great Transformation. (New York: Rinehart Company, Inc.)

Ramsey, Frank P. (1927). “A Contribution to the Theory of Taxation,The Economic Journal 37:145 (March), 47-61.

Rehman, Scheherazade S., and Hossein Askari (2010). "An Economic Islamicity Index," Global Economy Journal 10:3, 1-39.

Schneider, Geoffrey, and Paul Susman (2010). "Uneven Development and Grounded Comparative Institutional Advantage: Lessons from Sweden and Mondragon," Social Economics 39: 1-11.

Schumpeter, Joseph A. (1962, 1950, 1942). "The Process of Creative Destruction," chapter VII, from Capitalism, Socialism, and Democracy. (New York: Harper Torchbooks, 1962).

Simon, Herbert A. (1959). “Theories of Decision-Making in Economics and Behavioral Science”, American Economic Review XLIX: June: 253-283.

Stigler, George J. (1957). “Perfect Competition, Historically Contemplated,” Journal of Political Economy 65:1 (February), 1-17.

Stiglitz, Joseph E. (1987). “The Causes and Consequence of the Dependence of Quality on Price,” Journal of Economic Literature 25 (March): 1-48.

Swamy, Arun R. (2003). "Hindu Nationalism – What's Religion Got to Do With It?" (Asia-Pacific Center for Security Studies).

Syed, Murtaza, and Jinsook Lee (2010). "Japan's Quest for Growth: Exploring the Role of Capital and Innovation," Working Paper 294. (Washington, D.C.: International Monetary Fund, December).

Trotsky, Leon (1977, 1972, 1936). "The Revolution Betrayed," (New York: Pathfinder Press).

Yao, Shujie (2007). "China's New Economic Policy Initiatives from the 17th National Congress of the Chinest Communist Party," (Nottingham, U.K.: University of Nottingham, China Policy Institute).


All class sessions are based on the student's prior reading of assigned material. Exceptions to reserve readings will be announced by the instructor.
***

Policies and Procedures:
1. Grading: Final examination: 35% (cumulative; essays and objective)

Mid-Term examination: 25% (essays and objective)

Research Paper*: 20%

Classroom presentations and

classroom case studies: 20%

2. Make-up examinations: None.



  1. Office Hours: TBA, lebelp@mail.montclair.edu


*Terms of Reference for the Research Paper: Each student is to prepare a research paper with various stage deadlines indicated in the syllabus. The choice of a paper topic can be determined in terms of thematic issues to be covered in the course, with specific application to a designated country or group of countries. In addition, the paper is to identify clearly the problem to be examined, the choice of methodology to be used, the relevant source materials and data to be utilized, as well as any quantitative techniques to be applied in the analysis. By having several preparatory submission stages, the student will obtain feedback from the instructor as to the content and direction of the paper rather than risking an ambiguous submission at the final deadline. Failure to adhere to the deadlines stipulated in the syllabus will result in grading penalties.
While printed versions of the preparation stages of the paper will be required, the final version is to be submitted electronically, and will be filtered through the University's Blackboard Safe Assign plagiarism software program prior to any evaluation. A paper that fails the plagiarism filter test automatically will be given an F.
I. The Nature and Significance of Comparative Economic Systems

(1/30/12) Class 1 - Introduction to Comparative Economic Systems, text (1-22). Key concepts: comparative systems, new traditional economies, share economy, traditional economy, caste system, market economy, command economy, capitalism, socialism, state capitalism, market capitalism, command socialism, market socialism, command capitalism, planners' preferences, consumers' sovereignty, war communism, plannet market economy, indicative planning, material incentives, moral incentives, Great Proletarian Cultural Revolution, Austrian School of economics, maximin criterion, pure communism, equity-efficiency trade-off, social safety net, social market economies, newly industrializing countries, laissez-faire, social democracy, dictatorship of the proletariat, Shari'a law, real per capita icome, Malthusian low-level equilibrium trap, realtive backwardness hypothesis, static efficiency, Pareto optimality, dynamic efficiency, macroeconomic stability, Human Development Index (HDI), Economic Freedom Index (EFI), Lorenz curves, Gini coefficient, social capital. Reserve Readings: Allman, William F.(1985).,”Determining Risks with Statistics – and with Humanity,” Science 85/Baltimore Sun, October 13, 1985, p. 50; Arrow, Kenneth J., “The Organization of Economic Activity: Issues Pertinent to the Choice of Market versus Non-Market Activity,” in Mansfield Readings, (437-455); Friedman, Milton and Leonard J.Savage (1948). “The Utility Analysis of Choices Involving Risk,” Journal of Political Economy I 56:4 (August), 279-304). Datasets: Human Development Index 2004; The Corruption Perceptions Index, Application Modules: Economic Functions of the Public Sector, The Circular Flow Diagram, Classroom Case Studies:



(2/1/12) Class 2 - Market Capitalism, text (23-52). Key concepts: industrial revolution, dynamic efficiency, creative destruction, complete information, competition, full imformation, general equilibrium, partial equilibrium, production possibilities frontier, invisible hand, monopoly power, market failure, producer's surplus, consumer's surplus, total social welfare, monopoly rent, deadweight social welfare loss, natural monopoly, monopolistic competition and oligopoly, excess capacity theorem, perfect collusion, contestable markets, Sherman Act of 1890, Federal Trade commission Act of 1914, Clayton Act of 1914, Keiretsu, Chaebol, negative and positive externalities, incompleteness of markets, Coase theorem, tradeable emissions permits, collective consumption or pure public goods, free rider problem and moral hazard, methodological individualism, public choice school, asymmetric information, principal-agent problem, business unionism, corporatism, Keynesian School, Classical School, New Classical Economics, Chicago School, Rent-Seeking behavior. Reserve Readings: Stigler, George J. (1957). “Perfect Competition, Historically Contemplated,” Journal of Political Economy 65:1 (February), 1-17; Arrow, Kenneth J. (1998), “What Has Economics to Say About Racial Discrimination,” Journal of Economic Perspectives 12:2 (Spring): 91-100; Bator, Francis M. (1958). “Anatomy of Market Failure,” Quarterly Journal of Economics, 72(3): 351-379; Ramsey, Frank P. (1927). “A Contribution to the Theory of Taxation,The Economic Journal 37:145 (March), 47-61; Simon, Herbert A. (1959). “Theories of Decision-Making in Economics and Behavioral Science”, American Economic Review XLIX: June: 253-283. Datasets: International Trade and Economic Growth, Corruption and Economic Growth, Application Modules: Basic Supply and Demand, Basic Econometric Forecasting Modeling, Competitive Strategy, Excise Taxation, The Basic Harrod-Domar Growth Model, Classroom Case Studies:
(2/6/12) Class 3Marxism and Socialism, text (53-73). Key concepts: Karl Marx (1818-1883), The Communist Manifesto (1848), millenarian tradition, utopian socialism, Henri de Saint Simon (1760-1825), Charles Fourier (1772-1837), Robert Owen (1771-1858), constructivism, social engineering, phalansteries, Amana Farms, George Ripley (1802-1880), Bronson Alcott (1799-1888), Margaret Fuller (1810-1850), Ralph Waldo Emerson (1803-1882), Grand National Consolidated Trades Union, Israeli kibbutzim, holistic systems, Georg Friedrich Hegel (1770-1831), Hegelian dialectics of thesis-anthithesis-synthesis, universal idea, historical materialism, bourgeoisie, proletariat, class struggle, forces of production, relations of production, mode of production, superstructure, dialectical materialism, Critique of the Gotha Program (1870), return to pure land, indirect labor, surplus value, exploitation, alienation, organic composition of caital, rate of exploitation, rate of profit, Edouard Bernstein (1850-1932) Evolutionary Socialism (1899), revisionism, theories of imperialism, John A. Hobson (1858-1940), Rosa Luxemburg (1871-1919), V.I. Lenin (1870-1924), Imperialism: The Highest Stage of Capitalism (1916), Karl Kautsky (1854-1938), Bosheviks, Mensheviks, Paris Commune of 1871, anarchism, syndacliam, First, William Godwin (1756-1836), Michael Bakunin (1814-1876), Leon Trotsky (1879-1940), First International (1864), Second International (1889), Third International (1928), Fourth International (1963), Josef Broz Tito (1892-1980), worker-managed market socialism, Mao Tse Tung (1893-1976), Great Leap Forward (1957-1959), Great Proletarian Cultural Revolution (1966-1969), Sendero Luminoso, socialist planning, Ludwig von Mises (1881-1973), Friedrich Hayek (1899-1992), Oskar Lange (1904-1965), new economic mechanism, soft budget constraints, János Kornai (1928- ), material balance method, Gosplan, town and village enterprises, techpromfinplan, ratchet effect, storming, input-output analysis, Wassily Leontief (1905-1999), linear programming, Leonid V. Kantorovich (1912-1986), Walter Isard (1919-2010), Participatory or cooperative economy, labor-managed economy, Jaroslav Vanek (1930- ), Louis Kelso (1913-1991), usufruct rights, third way, employee stock ownership plans, Martin Weitzman (1942- ). Reserve Readings: Marx, Karl, and Frederick Engels (1848). "Manifesto of the Communist Party," (Moscow: Progress Publishers, 1969, 1848): Bernstein, Eduard (1965,1932). "Introduction", Evolutionary Socialism. (New York: Schocken Books). Datasets: Application Modules: The Measurement of Income Inequality, Classroom Case Studies: Income Distribution
(2/8/12) Class 4Transitional Economic Systems, text (74-84). Key concepts: soft budget constraints, Washington Consensus, Human Development Index. Reserve Readings: Kornai, János (1998). "The System Paradigm," Working Paper Number 278. (Washington, D.C.: International Monetary Fund, April); Atkinson, Anthony B. (1987). “On the Measurement of Poverty,” Econometrica 55:4 (July), 749-764; Kakwani, Nanak C. (1977). “Applications of Lorenz Curves in Economic Analysis,” Econometrica 45:3 (April), 719-728. Datasets: Bills, Bonds, Stocks, Inflation, Application Modules: Basic Economic Efficiency, Dynamic Economic Efficiency, Classroom Case Studies:
(2/13/12) Class 5Islamic Economics, text (85-111). Key concepts: familistic groupism, Old Traditional Economy, household/reciprocal/redistributive dimensions of traditional economies, formalists vs. substantivists, New Traditional Economy, Asiatic Mode of Production, Buddhist economics, E.F. Schumacher (1911-1977), Mahayana, Buddhist socialism, Confucian economics, Analects, Neo-Confucianism, crony capitalism, jajmani system, Hindu economics, Hind swaraj, Swadeshi, integral humanism (195), Judaic economics, Zionist movement, kibbutzim, Christian economics, St. Thomas Aquinas (1225-1274), Max Weber (1864-1920), the Protestant ethic, Muhammed (570-632), Ka'bah, Qur'an, Hadith, Shari'a, sura, Ka'bah, Hijra, Zakat, gharar, riba, qirad, mudarabah, waqf, umma, caliph, Jean-Marie LePen (1928- ), Taliban, Mohammed Mossadegh (1882-1967), OPEC (1960). Reserve Readings: Rehman, Scheherazade S., and Hossein Askari (2010). "An Economic Islamicity Index," Global Economy Journal 10:3, 1-39. Datasets: Application Modules: Capital Budgeting Basics, Classroom Case Studies:
(2/15/12) Class 6The U.S. in Global Perspective, text (115-143). Key concepts: American sysem of interchangeable parts, Fordist assembly line production, Bretton Woods Conference of 1944, World Trade Organization, new Economy, mercantile policy, Adam Smith (1723-1790), The Wealth of Nations (1776), Bill of Rights (1789), infant indusry argument, limited liability corporation, Gilded Age (1865-1900), J.D. Rockefeller (1839-1938), J.P. Morgan (1837-1913), Theodore Roosevelt (1858-19190, Woodrow Wilson (1856-1924), Trust busing, Sherman Act (1890), Franklin D. Roosevelt (1882-1945), Smoot-Hawley Tariff of 1930, New Deal, FDIC, SEC, CCC, WPA, NLRB, Marshall Plan, John F. Kennedy (1917-1963), Lyndon B. Johnson (1908-1973), Great Society, James Earl Carter (1924- ) Ronald Reagan (1911-2004), Reaganomics, supply-side economics, Bill Clinton (1946- ), Anglo-American corporate form, Adolphe Berle (1895-1971) and Gardiner Means (1896-1988), Alfred P. Sloan (1875-1966), Pierre S. Du Pont (1915- ), M-form structure, New Institutionalist Economics, Ronald Coase (1910- ), Oliver Williamson (1932- ), core competencies, ICC (1887), FCC (1930), CAB (1930-1971), FAA (1958), EPA (1970), OSHA (1970), Human Development Report, Economic Report of the President, total factor productivity, luxury fever, winner-take-all contests. Reserve Readings: Schumpeter, Joseph A. (1962, 1950, 1942). "The Process of Creative Destruction," chapter VII, from Capitalism, Socialism, and Democracy, (New York: Harper Torchbooks, 1962); Coase, Ronald H (1937). “The Nature of the Firm,” Economica, New Series 4:16 (November), 386-405; Conlisk, John (1996). “Why Bounded Rationality?” Journal of Economic Literature XXIV:2 (June), pp. 669-700. Datasets: The U.S. Saving Rate, U.S. Income Inequality Trends, U.S. Airline Mergers, U.S. Budget and Trade Balances, U.S. Balance of Payments Trends, U.S. Unemployment Rates, Application Modules: Classroom Case Studies:

Term Paper Topic Selection Deadline
(2/20/12) Class 7The Economic System of Japan 1, text 144-166). Key concepts: Japan, Incorporated, familistic groupism, Shinto, bushido code, wa, shoguns, zaibatsus, kereitsus, quality circles, dual economy, share economy, seniority wages, enterprise unions, horizontal vs. vertical kereitsu, network externalities, OECD, kanban, J-mode organization vs. H-mode organization, nemawashi consensus decision-making, ringi-sho, MITI, amakudari "descend from heaven" employment, product cycles, rationalization cartels, depression cartels, PPP metrics, Minimata disease mercury pollution, itai itai cadmium pollution disease, gai-jin xenophobia, Ainu, Burakumin. Reserve Readings: Syed, Murtaza, and Jinsook Lee (2010). "Japan's Quest for Growth: Exploring the Role of Capital and Innovation," Working Paper 294. (Washington, D.C.: International Monetary Fund, December). Datasets: Stock Market Bubbles, World Fish Consumption, Application Modules: Classroom Case Studies:
(2/22/12) Class 8The Economic System of Japan 2, text (167-177). Key concepts: Big-Bang Reforms, bubble economy of Japan, Clyde Prestowitz, Sintaro Ishihara (1932- ). Reserve Readings: Cipriani, Marco, and Antonio Guarino (2010). "Estimating a Structural Model of Herd Behavior in Financial Markets," Working Paper 288. (Washington, D.C.: International Monetary Fund). Datasets: Stock Market Volatility, Application Modules: Classroom Case Studies:
(2/27/12) Class 9The Economic System of France, text (178-201). Key concepts: indicative planning, dirigisme, Jean-Baptiste Colbert (1619-1683), Marquis d'Argenson (1694-1757), laissez-faire, physiocrats, François Quesnay (1694-1774), Jacques Turgot (1727- 1781), Maximilien Robespierre (1758-1794), Charles DeGaulle (1890-1970), Eduard Balladur (1929- ), François Mitterand (1916-1996), Lionel Jospin (1937- ), Jacques Chirac (1932- ), European Union, Pierre Massé (1898-1987), l'économie concertée, exhortive planning, Jean Monnet (1888-1979), First Plan (1946-1952), Délégation à l'Aménagement du Territoire et à l'Action Régionale (DATAR), amakudari, Second Plan (1953-1957), Third Plan (1957-1961), Fourth Plan (1961-1965), Fifth Plan (1965-1970), Sixth Plan (1970-1975), Seventh Plan (1975-1980), Eighth Plan (1980-1984), Ninth Plan (1984-1988), Tenth Plan (1989-1992), Maastricht Treaty of 1991, Cecchini Report (1988), Grand Industrial Policy, corporatism, autogestion, Common Agricultural Policy (PAC), Eurocrats, the euro and euroland. Reserve Readings: Levy, Jonah D., Mari Miura, and Gene Park (2003). "Exiting Etatisme? New Directions in State Policy in France and Japan," workshop paper on New State Activities in the Age of Globalization. (Berkeley, California: University of California Berkeley); Stiglitz, Joseph E. (1987). “The Causes and Consequence of the Dependence of Quality on Price,” Journal of Economic Literature 25 (March): 1-48. Datasets: The G-20 Group of Countries, The Global Commercial Aircraft Market, International Health Care, International Productivity, Application Modules: Classroom Case Studies:
(2/29/12) Class 10The Economic System of Sweden, text (201-229). Key concepts: social market economy, centralized wage bargaining, wage solidarism, Assar Lindbeck (1930- ), Carl Bildt (1949- ), L.M. Ericsson, Landsorganisationen (LO), SVenska Arbetsgivareforening (SAF), liberal corporatism, Saltsjöbaden Agreement (1938), Rehn-Meidner Plan, Olof Palme (1927-1986), Value Added Tax (VAT), Gerte Hofstede (1928- ), Post-Keynesian policies, OECD (1960), EFTA. Reserve Readings: Schneider, Geoffrey, and Paul Susman (2010). "Uneven Development and Grounded Comparative Institutional Advantage: Lessons from Sweden and Mondragon," Social Economics 39: 1-11. Datasets: Application Modules: Classroom Case Studies:
(3/5/12) Class 11The Economic System of Germany 1, text (230-249). Key concepts: Federal Republic of Germany (RFD), German Democratic Republic (DDR), Wirtschaftswunder (Economic Miracle), lander, Mitbestimmung (codetermination), European Central Bank (ECB), Council on Mutual Economic Assistance (CMEA), mezzogiorno problem, Ossis-Wessis, Weimar Republic hyperinflation, command capitalist economy, cartelization, monetary overhand, Ordo-liberals, Soziale Marktwirtschaft (social market economy), European Coal and Steel Community (ECSC), Eurosclerosis, Globalsteureung (Concerted Action), Warsaw Pact, Kombinat, Ludwig Erhard (1897-1977), Erich Honeker (1912-1994). Reserve Readings: Datasets: Application Modules: Classroom Case Studies:
(3/7/12) Class 12The Economic System of Germany 2, text (250-263). Key concepts: Cold War, Big Bank economic transofrmation, Bundesbank, Treuhandanstalt (THA). Reserve Readings: Audretsch, David B. (2010), "German Economic Policy, (Bloomington, Indiana: Indiana University Institute for Development Strategies). Datasets: Global Trading Groups, Application Modules: Classroom Case Studies:
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