Bachelor 2019/2020

Economics of Transition and Emerging Markets

Type: Elective course (Economics and Statistics)

Area of studies: Economics

Delivered by: Department of Statistics and Data Analysis

Where: Faculty of Economic Sciences

When: 4 year, 3 module

Mode of studies: distance learning

Language: English

ECTS credits: 2

Contact hours: 2

Course Syllabus

Abstract

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.

Learning Objectives

• By the end of the course student will be able to analyse emerging-market economies and economies in transition, taking into account their crucial characteristics and historical experience.

Expected Learning Outcomes

• Student knows about 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 macroeconomic stabilization, domestic and external liberalization, and privatization.
• Student is experienced in discussion about 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 transition, and the role of external actors in transition process.
• Student has knowledge about 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, specifics of Chinese economic transition and its major stages, market reforms in other Asian countries (Vietnam, Laos, Cambodia, Myanmar, Mongolia, India).
• Student knows about market reforms in the Arab world (including the period of Arab Spring), Sub-Saharan Africa, Latin America, summary of emerging-market reforms since 1980s.

Course Contents

• Centrally planned economy: its origins, evolution and collapse.
  Origins of a centrally planned economy and its major characteristics. Attempts to reform. Collapse of the CPE. Transition agenda. Challenges of stabilization and disinflation. Privatization.
• Post-communist transition and its outcomes
  Political economy of transition and controversies over transition strategy. Market and democracy. Interrelations between economic and political transition, The role of external actors in shaping the transition process.
• The role of external actors in post-communist transition and economic reforms in Asia.
  Transition countries and the EU. Transition countries in early 2010s. Specifics of Chinese transition. Main stages of Chinese transition. Economic transition in other Asian countries.
• Market reforms in the Arab world, Sub-Saharan Africa and Latin America.
  Background of Arab transition. Challenges of the Arab Spring. African legasy of colonialism. Latin American economic populism. Agenda and results of EME reforms (summary).

Assessment Elements

• Оценка выполненных заданий при прохождении онлайн курса по теме 1
• Оценка выполненных заданий при прохождении онлайн курса по теме 2
• Оценка выполненных заданий при прохождении онлайн курса по теме 3
• Оценка выполненных заданий при прохождении онлайн курса по теме 4
• final assessment

Interim Assessment

• Interim assessment (3 module)
  0.2 * final assessment + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 1 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 2 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 3 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 4

Bibliography

Recommended Core Bibliography

• Lakshmi Iyer. (2016). Institutions, Institutional Change and Economic Performance in Emerging Markets. World Scientific Publishing Co. Pte. Ltd. https://doi.org/10.1142/9777

Recommended Additional Bibliography

• Kinateder, H., Fabich, M., & Wagner, N. (2017). Domestic mergers and acquisitions in BRICS countries: Acquirers and targets. Emerging Markets Review, (C), 190. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.ememar.v32y2017icp190.199