Economic Development [CRN 27345]

Discipline: Economics
Instructor: Ellyne
Credits: 3
Day: B
Start: 1400
End: 1520
Field Work: Day 1 | January 31, 2018 | China
Prerequisites: One (1) intermediate macroeconomics course Download Syllabus

Two‐thirds of the world population lives in “developing” countries under conditions incredibly different from those in the “developed” world. In this course we consider the question of what makes some countries rich and others poor. We study issues such as poverty, inequality, health, the Colonial legacy, environmental issues, population and fertility, gender, and education in the developing country context. We will also consider attempts made by “developed” countries to aid those in the “developing” world in order to gain a better understanding for when and why aid is and is not effective. Special attention will be paid to issues in the countries on the Semester at Sea spring 2018 itinerary.

Field Work

Country: China
Day: 1
Date: January 31, 2018

China has become the most important economic success of the past 30 years and is responsible for bringing so many people out of poverty that it helped achieve the UN’s millennium development goals for reducing poverty by half in 2015. Yet it’s not clear what the China Model is, and whether it can be copied by others. The goal of the field visit is to get an idea of the key characteristics of the Chinese economic success story: what is the “Chinese Development Model”, “The Beijing Consensus” or “A Socialist Market Economy”.

The first goal is to understand the original formula that started the economic success of China. The second goal is to understand whether China has had to change this economic strategy over time.

The plan is to talk to a Chinese academic economist for his perspective and talk to a government official for his view. Lastly, we will visit a company to gain further insight into the strengths and weaknesses of the Chinese economy.

Student will prepare a 2000 word paper (+/-10%, excluding Abstract, References and Appendices) describing some aspect of the Chinese development strategy. They may focus on a narrow aspect or may wish to assess whether this model is applicable to other developing countries. Students should clear their topic with the Professor

Learning Objectives:

  1. Understanding the formula that started the Chinese economic success story.

  2. Has this strategy or model changed over time?

  3. What are the risks associated with the strategy?