This course will cover the economic development and current structure of Asian economies, as well as the rise of regional economic interaction and institutions with a...More >>
This course will cover the economic development and current structure of Asian economies, as well as the rise of regional economic interaction and institutions with a focus on East Asia and India. For the past several decades (and earlier for Japan) the region has been the most vibrant in the world in terms of economic growth. The experience of these countries also provides interesting challenges to some of the usual assumptions about how economies and corporations should be organized and governed in order to be successful. When, why, and how did these economies begin the process of economic development? Why have many of them been so successful at growing and industrializing quickly? How do these economies operate today? How does the government interact with the economy? How do firms behave (including both internal governance/structure/behavior and competition in the marketplace)? What problems will confront these countries in the future and what issues that will be important for you to understand as you enter the world of business? In addition, evolution of a regional policy dialogue and the proliferation of bilateral and sub-regional free trade agreements, provides an opportunity to examine important issues related to exchange rate policy, regional trade preferences, and macroeconomic policy coordination.
For the purposes of this course, "Asia" consists of Japan, China, South Korea, Taiwan, Hong Kong, and the nations of Southeast Asia belonging to the Association of Southeast Asian Nations (ASEAN) as well as India. These economies span a very wide range of levels of development, economic structure, historical experience, and government policies. The course does NOT include the rest of South Asia (Pakistan, Bangladesh, etc.) or Central Asia (the "stans") other than a discussion of India's development model and then an India-China comparison.
The course will be divided into 3 main segments of roughly equal length: Japan and the Asian Tigers, China, and Southeast Asia and India (with foreign policy).