Economics of Transition and Emerging Markets

Key economic and political challenges related to transition from the centrally planned economy to market system, history of market reforms in Central and Eastern Europe, former Soviet Union, Asia, Middle East, Africa and Latin America, the contemporary role of emerging-market economies in the global economy.

About The Course

This course concentrates on challenges faced by transition and emerging-market economies, i.e. middle- and low-income countries. 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. 

Предмет курса концентрируется на проблемах т.н. переходных экономик и формирующихся рынков. Курс начинается с краткой истории командной экономической системы основанной на центральном планировании в СССР и странах Центральной и Восточной Европы, ее эволюции и распаде в конце 1980-тых и начале 1990-тых годов. Потом мы анализируем опыт рыночных реформ в Китае, Индии и других странах Азии, на Ближнем Востоке, Африке и Латинской Америке в тот же самый период. Наконец мы обсуждаем проблемы глобальной экономики и глобального и экономического управления, с особым вниманием для экономик с формирующимися рынками и их роли.      

Frequently Asked Questions

1. Will I get a Statement of Accomplishment after completing this class?

Yes. Students who successfully complete the class will receive a Statement of Accomplishment signed by the instructor.

Recommended Background

Basic knowledge in Economics (both Macro- and Microeconomics) and Political Science on the undergraduate level