In this course the students will learn fundamental economic principles such as supply and
demand analysis, comparative advantage, opportunity cost, basics of fiscal and monetary
policy, and models of economic growth, and will apply these tools to the analysis of economic
problems faced by the countries and regions of the voyage: What are the difficulties that
countries face in the transition from communism to capitalism (Russia)? How have particular
countries been impacted by the global financial crisis (Ireland, England)? How fares the
European welfare system (Germany, France)? What are the origins, implications, and solutions
to the euro crisis (Spain, Portugal)? Is African underdevelopment a heritage of colonialism,
continued exploitation, unfavorable global trade policies, debt traps, or other causes (Morocco,
Ghana, South Africa)? Why did Latin American countries accumulate large sovereign debts, and
how have they dealt with this (Argentina, Brazil)? How can countries manage natural resources
in an economically sustainable manner (Brazil, Dominica)?
Field WorkCountry: Ghana
Day: 4 - Accra - Friday, 18 October
The students will visit the offices of the Grameen Foundation of Ghana that promotes community development projects through micro-lending and related activities. We will also visit the communities and businesses that are supported by this NGO. The students will hear from the officials of the NGO about the organization and administration of their development projects and also observe the project activities of this NGO. Academic Objectives: 1. To observe small scale development work of an NGO involved with microcredit finance. 2. To learn about human resource development through integrated community development projects 3. To understand the importance of finance in economic development; to learn about sources of funds, the terms of lending, and the management of funds by the NGO.