The course analyzes challenges faced by transition and emerging-market economies, i.e., those middle- and low-income countries, which have conducted market-oriented economic reforms and become integrated into the global economy since 1990s. It starts from a brief history of communist economic system based on central planning in the former Soviet Union and Central and Eastern Europe, its evolution and collapse at the end of 1980s/ early 1990s and subsequent transition to a market system in 1990s and 2000s. Then it analyzes experience of market reforms in China, India, other Asian countries, Middle East and North Africa, Sub-Saharan Africa and Latin America at the same period. Finally, it discusses the problems of contemporary global economy and global and regional economic governance with the special focus given to emerging-market economies and their role. By the end of the course you will be able to analyse emerging-market economies and economies in transition, taking into account their crucial characteristics and historical experience. Participation in the course does not require any preconditions, however, basic economic knowledge would be an advantage. In order to pass successfully this course you must score not less than 80% for each of six after module quizzes and complete the peer-assessed essay at the end of the course.
- Week 1 - Introduction
- Week 1 - Centrally planned economy: its origins, evolution and collapse
Dear Students, In this module we will discuss the origins of a centrally planned economy, its major characteristics, evolution, attempts of its reform and history of its collapse, agenda of market transition in 1990s and its major components such as macroecono...
- Week 2 - Post-communist transition and its outcomes
Dear Students, In this week we will discuss political economy of transition, controversies over a transition strategy, and first results of transition (at the end of 1990s), interrelations between market and democracy, and between economic and political transi...
- Week 3 - The role of external actors in post-communist transition and economic reforms in Asia
Dear students, In this module we will discuss the role of external actors (IMF, World Bank, WTO, EU, etc.) in economic and political transition in Central and Eastern Europe and former Soviet Union, cumulative results of transition in early/mid 2010s, specific...
- Week 4 - Market reforms in the Arab world, Sub-Saharan Africa and Latin America
Dear students, In this module we will discuss market reforms in the Arab world (including the period of Arab Spring), Sub-Saharan Africa, Latin America, summary of emerging-market reforms since 1980s.There will be 5 parts of video-lectures of 7-25 minutes leng...
- Week 5 - Emerging markets and their role in global economy
Dear students, In this module we will discuss causes and consequences of emerging market-crises in 1980s and 1990s, impact of the global financial crisis of 2008-2009 on emerging-market economies, the increasing role of emerging-market economies in the global ...
- Week 6 - EMEs, globalization and international trade
Dear students, In this module we will discuss consequences of globalization, changes in international financial institutions, emerging-market economies and global and regional trade systems.There will be 5 parts of video-lectures of 12-20 minutes length. You c...
Department of Applied Economics