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Econ 5338
Seminar on World Economic Systems

Steve Gardner
Fall 2009
    Texts
    • H. Stephen Gardner, Comparative Economic Systems, manuscript
    • Additional required readings will be posted on this web site and/or distributed in class.
    • This course will be more meaningful if you keep up with international economic events.  One good source is the Online Wall Street Journal, for which Baylor now has a blanket subscription.  You can log in with your Bear-ID and password at https://business.baylor.edu/WSJ.

Recommended References

Objectives

    The primary objectives of this course are to:
  • Explore differences between economic institutions, policy, and performance in countries around the world;

  • Provide information on the methods used to make economic comparisons across countries -- statistical methods, theoretical methods, and others; and

  • Encourage analysis and discussion of major developments in the world economy, including the current policy debates in the United States, the enlargement and monetary unification of the European Union, the economic and social transitions of the former Communist countries, the integration of China into the world economy, structural adjustment programs in developing countries, and the programs of economic integration in Europe, the Western Hemisphere, and other regions.

Grading

Semester grades will be based on your performance on three examinations (20% each), submission and class presentation of a brief term paper (20%), class presentation of a working paper selected from a prescribed list (10%), and class preparation, participation, and completion of out-of-class assignments (10%). Unless you are told otherwise, each test will include a combination of multiple choice and essay questions.  See other important information under Attendance, below.

Your working paper presentations will be given when the subject of your presentation arises in class (see schedule below). Each should be about 5-10 minutes long, and should include, if applicable, information about the author(s), the topic, the previous literature, the methods of research and analysis (data and information sources, statistical methods, etc.), conclusions, your evaluation of the validity of the conclusions, and suggestions for future research.  In most cases, you will not be able to discuss all of the information/arguments in the paper, so focus on the most interesting and important points.

See other important information under Attendance, below.

Classroom Conduct

  • Generally, classes will begin and conclude in a timely manner. Please make every effort to arrive on time and avoid leaving early. If you must leave early, please tell me before class begins. For more information on this subject, see "Attendance" below.
  • Please switch off cell phones before class begins.
  • Please give your full attention to the class.  If you have a notebook computer, please keep your wireless network card unplugged if you are not downloading a file for classroom use.  Web surfing, e-mailing, newspaper reading, and side conversations are disrespectful and distracting.
  • Our classes will be more interesting if we have broad and lively discussions.  Please participate, but avoid monopolizing the discussion. Respect alternative points of view and help me to "draw out" shy class members, some of whom may be insecure about their fluency in English.
  • With the exception of bottled water, we are not allowed to have food or drinks in the Cashion classrooms.
  • For additional information on classroom conduct, see corresponding section of the Student Handbook .

Attendance

    In keeping with University regulations, students who miss over 25% of class meetings (in this case, 8 or more absences) will automatically fail the course. On the other hand, three points will be added to your semester average if you have perfect attendance; two points will be added if you have one absence; one point will be added if you have two absences (for the calculation of  this extra credit, there are no excused absences). If you arrive late for class, you will be recorded absent unless you have the roll changed before you leave the class.


    Tentative Course Schedule

    I. Introduction

    Aug 24 First Day
    Aug 26 Classification of Economic Systems--Gardner, ch. 1-- outline 
    Aug 31 Measuring National Income --Gardner, ch. 2-- outline 
    Sept 2 Living Standards, Income Inequality-- Gardner, ch. 2-- outline 
    Sept 7 LABOR  DAY HOLIDAY
    Sept 9 Unemployment and Inflation--Gardner, ch. 2-- outline

    II. Economic Systems

    Sept 14 Capitalism--Gardner, ch. 3 -- outline   
    Sept 16 Capitalism, completed
    Sept 21 Socialism--Gardner, ch. 4-- outline 
    TERM PAPER TOPICS AND BIBLIOGRAPHIES DUE
    Sept 23 Economic Development--Gardner, ch. 5 -- outline 
    Sept 28 Economic Development (concluded)

    Sept. 30 -- FIRST EXAMINATION, TEXT CHAPTERS 1-5

    III. The Western Hemisphere

    Oct 5

    Introduction--Gardner, ch. 6-- outline 

    Oct 7

    United States--Gardner, ch. 7 -- outline  

    Oct. 12 United States (concluded) and Samantha Warrington presents Michael D. Bordo, An Historical Perspective on the Crisis of 2007-2008. NBER Working Paper No. 14569, December 2008.
    Oct 14 Latin America--Gardner, ch. 8-- outline  and  Greg Larosiliere presents Jeromin Zettelmeyer, Growth and Reforms in Latin America: A Survey of Facts and Arguments

    IV. Western Europe

    Oct 19 Introduction to Europe--Gardner, ch. 9-- outline 
    Oct 21 Introduction to Europe, continued and David Day presents John Pencavel, The Surprising Retreat of Union Britain
    Oct 26 Great Britain and Germany--Gardner, ch. 10 and ch. 11-- outline  and outline
    Oct 28 France and Sweden--Gardner, ch. 12 and 13-- outline and outline

    November 2 -- SECOND EXAMINATION, TEXT CHAPTERS 6-13

    V. Central Eurasia

    Nov 4 Economic History of Central Eurasia--Gardner, ch. 14-- outline 
    Nov 9 Economics of Central Planning--Gardner, ch. 15-- outline
    Nov 11 Socialist Reform--Gardner, ch. 16 -- outline
    Nov 16 Market Transition--Gardner, ch. 17-- outline 

    VI. Asia and Africa

    Nov 18 Introduction to Asia--Gardner, ch. 18-- outline  
    Nov 23 Japan--November 20--Gardner, ch. 19-- outline 
    Nov 25-29 THANKSGIVING HOLIDAYS
    Nov 30 China --Gardner, ch. 20-- outline 
    TERM PAPERS DUE
    Dec 2 China, continued
    Dec 7 Africa--Gardner, ch. 21-- outline

    DECEMBER 12 (2:00-4:00PM) -- THIRD EXAMINATION--CHAPTERS 14-21

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