Analyzes rise of emerging markets/economies and their new role in the context of global economy. Focus on post-1970s growth of countries such as China, India, South Korea, Chile, Mexico, and Brazil (and/or other countries according to students' interests) with particular emphasis on financial, industrial/trading and institutional aspects, linking such rise to the emergence of vast global economic imbalances and new trend in capital and trade flows of the last decade.
Critical survey of theories concerning the economic and political development of major civilizations, with an emphasis on the causes of differences that took shape and persisted over long time periods. The theories covered address the roles of institutions, cultures, legal systems, beliefs, family structures, religions, institutions, technologies, geography, and natural resources. Interactions between economic and political development. Pre-requisite: ECON201D, or instructor consent. One course.
Seminar version of ECON326. Introduction to political history of Middle East from advent of Islam 14 centuries ago to modern era.
Lecture version of ECON326S. Introduction to political history of Middle East from advent of Islam 14 centuries ago to modern era.
Comparative and historical analysis of cities as natural incubators of innovation and growth. Exploration through analytical and empirical literature of the positive externalities created by close human contact, including knowledge and information exchange and concentrations of talent. Perspectives of economists, city planners and architects considered. Research project required. Pre-requisite: ECON201D. One course.
The various ways economics is used in contemporary society: in the scholarly community, government, private sector, civil society, other disciplines, and popular culture. Readings in original texts and interpretative commentaries. Pre-requisites: ECON201D. One course.
A reading and discussion course covering the “invention” of money and the development of money markets and institutions over the past 6000 years. How the need to lower transaction costs and to stabilize the value of monetary instruments over time shaped the payment technology and the underlying institutions. Pre-requisites: ECON205D and 210D. One course.
Economic development of the Middle East from the rise of Islam to the present. Transformation of the region from an economically advanced area into part of the underdeveloped world. Role of religion in economic successes and failures. Obstacles to development today. Topics: Islamic economic institutions, economic roles of Islamic law, innovation and change, political economy of modernization, interactions with other regions, economic consequences of Islamism. Pre-requisite: ECON101 or 21 and 22 or instructor consent. One course.
Course examines monetary/financial crises plaguing world since 16th century. Analyzes origin, unfolding, and impact of crises, debates generated by them, and formulation/implementation of policy measures. Attention to international implications/connections on European/Asian money supply, banking/credit systems; reaction to South Sea Bubble and John Law Credit Systems in numerous European nations; experiments with paper money in America; rise/demise of gold standard in 19th/20th century; currency and exchange rate problems of last three decades.
Developments in the international economy (trade, migrations, capital movements), their causes and impact, against the background of “modern economic growth.” The rapid integration of the Atlantic economy from the 1850s to the early 1910s, the subsequent “globalization backlash” (war, great depression and war again), and the slow reconstruction of international economic networks since 1945. Comparison of the current second globalization with the first one that came to an abrupt end in August 1914.