Comparative Economic Systems [CRN 77133]

Discipline: Economics
Instructor: Jacoby
Credits: 3
Day: A
Start: 1640
End: 1800
Field Work: Day 1 - Monday, 26 September | Italy
Prerequisites: One (1) introductory economics course Download Syllabus

The comparative analysis of economic and political systems begins with a study of the rise of capitalist, socialist and communist economies and proceeds from there to examine key institutions within modern economies, especially those involving finance, labor, trade, industrial organization, and education.  Contemporary economic systems analysis increasingly focuses on “varieties” of capitalism, especially the differences between “coordinated” and “liberal market” economies.  Our course also recognizes the importance of economies shifting away from Soviet style planning (transition economics), as well as considerations of state dominated economies, failed-states, and various “third way” economies including Islamic economics.   The nations on our voyage do not exhibit all the classical properties capitalist or socialist nations and thus provide ample opportunities for comparative analysis, both with each other and with standard models.  The course will provide first hand opportunities to consider and compare the effectiveness of economic organization among the various nations in regards to standard economic goals involving equity, efficiency, growth and stability.

Field Work

Country: Italy
Day: 1 - Monday, 26 September

We will visit with academics and/or officials to learn about the EU and current challenges such as immigration, the Euro and the issues related to possible exit.  The EU challenges current understandings of national economic systems and helps us consider the issues related to greater global cooperation. Learning objectives:

  1. Learn about EU Institutions
  2. Learn about Italy economy
  3. Understand how EU institutions and policies affect Italy