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Course Syllabus
ECO 343 Comparative Economic Systems
Instructor:
Office:
Mailing Address:
Office Telephone:
Email:
Website:
Dr. Roger Even Bove
317D Anderson Hall
Economics & Finance Department
West Chester University
West Chester, PA 19383-2220
(610) 436-2134(email is checked more often)
rbove@wcupa.edu
http://courses.wcupa.edu/rbove/eco343/343key.html
Check this at least once a week for exam hours, problem
solutions, changes in office hours, etc. This site is also
accessible through Blackboard.
Office Hours:
To be entered
You are encouraged to disregard these hours and come in at
your convenience in the afternoon without an appointment.
(Call in advance to be sure that I am in my office.)
Required Texts:
David Kennett, A New View of Comparative Economics, 2nd edition, Thomson
- Southwestern, 2004, ISBN 0-324-17073-4
Recommended:
Robert Heilbroner and William Milberg, The Making of Economic Society,
11th edition, Prentice Hall, 2002, ISBN 0-13-091050-3
Course Description:
This course will survey the economic systems of the world. The approach will
be to describe how economic systems work and how economic forces and ideas
interact with history, and culture to explain economic performance. It begins
with an introduction to the historical development of capitalism and to the
origin of various forms of socialism that appeared in the nineteenth century in
response to the shortcomings of nineteenth century capitalism. It will also
describe how Islamic thought has responded to the challenge of globalization.
Methods of comparing economic systems will be discussed.
The first group of economies to be discussed will be four Western economies:
Japan, Sweden, Germany and France, all of which have predominately market
economies with a long history of government direction. Korea, Singapore,
Taiwan and Hong Kong will be covered briefly. The Former Soviet Union will
then be discussed. China, Cuba, Hungary, and Yugoslavia will then be covered,
especially in how they modified the Soviet model and their varying problems in
making the transition to capitalism. Finally, we will discuss two very different
Third World economies, those of Mexico and Iran.
Prerequisites:
Economics 111 and 112 or the equivalent.
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Evaluation Policy:
Student progress in this course is determined primarily by grades on two exams
and two papers. The first paper will be a review of a book or series of articles approximately four to seven pages. The second paper will be a research paper on
a topic preferably suggested by the book covered in the first paper. The paper
should be accompanied by an approximately eight to twelve minute presentation
to the class. Weights on the various exams and papers will be as follows:
First Paper:
1/9 (25 Points), Second Paper:
1/3 (75 Points),
First Exam:
2/9 (50 Points), Final Exam:
1/3 (75 Points).
Regular class attendance and participation is expected and a pattern of
absences will be penalized.
Examination
Policy:
University policy is that there is no excused absence from a
scheduled examination. Therefore, a scheduled and pre-announced
exam which is missed will not be made up, and a grade of an F will
be recorded, with the limited exception of cases in which the
absence is wholly involuntary and unavoidable, and the reason for
which is documented by evidence, which can be verified by the
instructor. Practically speaking, such cases normally include only
illness attended by a physician or nurse, and unavoidable absence
on official University business. Not included would be absences
due to “oversleeping”, “change in outside schedule”, “job
interview”, “extracurricular club or organization events, “car
wouldn’t start”, etc.... If any make-up exams are given. they will
generally be scheduled for some time during the last week of the
semester. Nevertheless, please talk to the instructor about any such
situation.
However, if you must be absent from an exam, see the instructor,
preferably in advance.
Economics and Finance Department Policies:
Class Cancellation Policy: In the event that the instructor cancels a class, you will be notified by a note
posted on the classroom door and signed by the department chair. If there is any uncertainty, check with the
department secretary in Anderson 309.
Accommodations: We at West Chester University wish to make accommodations for persons with
disabilities. Please make your needs known by contacting me and/or the Office of Services for Students with
Disabilities at ext. 3217. Sufficient notice is needed in order to make the accommodations possible. The
University desires to comply with the ADA of 1990.”
Academic Dishonesty: Academic dishonesty is prohibited and violations may result in discipline up to and
including expulsion from the University. Academic dishonesty includes but is not limited to academic
cheating, plagiarism, the sale purchase or exchange of term papers or research papers; falsification of
information which includes any form of providing false or misleading information, written, electronic or
oral. Plagiarism is defined as copying another's work or portions thereof and/or using ideas and concepts of
another and presenting them as one's own without giving proper credit to the source.
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Nondiscrimination/Affirmative Action Policy: West Chester University is committed to providing
leadership in extending equal opportunities to all individuals. Accordingly, the University will continue to
make every effort to provide these rights to all persons regardless of race, religion, sex, national origin,
ancestry, age, marital status, sexual orientation, disability, or veteran status. This policy applies to all
members of the University community, including students, staff, and administrators. It also applies to all
applicants for admission or employment and all participants in University-sponsored activities. Any
individual having suggestions, problems, complaints or grievances with regard to equal opportunity or
affirmative action is encouraged to contact the Director of Social Equity, 13/15 University Avenue, 610436-2433.
Sexual Harassment Policy: West Chester University is committed to equality of opportunity and freedom
from discrimination for all its students and employees. Based on this commitment and the recognition that
sexual harassment is a form of discrimination, which is of a growing concern to the higher education
community, the University provides the following policy:
Harassment on the basis of sex is a violation of Title VII of the U.S. Civil Rights Act, Title IX of the
Educational Amendments of 1972, and of the Pennsylvania Human Relations Act. Because West Chester
University is committed to establishing an environment free from discrimination and harassment, sexual
harassment will not be tolerated in any form. Upon official filing of a complaint, immediate investigation
will be made culminating in appropriate corrective action when warranted which may include termination of
the relationship with the University.
Sexual harassment is defined as unwelcome sexual advances, requests for sexual favors, or other verbal or
physical conduct of a sexual nature occurring when: 1. submission to such conduct is made either explicitly
or implicitly a term of an individual’s employment, or of a student’s academic status or treatment; 2.
submission to or rejection of such conduct by an individual is used as the basis of academic or employment
decisions affecting such an individual; or 3. such conduct has the purpose or effect of unreasonable
interfering with an individual’s extracurricular activities, work, or academic performance or creating an
intimidating, hostile, or offensive living, working, or academic environment. A complete copy of the
University’s Sexual Harassment Policy document, inclusive of the Sexual Harassment Complaint
Procedure, may be obtained from the Office of Social Equity.
Individuals who believe themselves to be victims of sexual harassment, or who have questions about the
University’s policy on this matter should contact the Director of Social Equity, 13/15 University Avenue,
610-436-2433.
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Student Learning Objectives
Introduction – Political and Economic Systems.
Be able to explain what we mean by an Economic System and what institutions make up all
economic systems. Be able to explain what we mean by a Production Function and factors of
production. What criteria do we use to measure the differences in economic systems and how can
we measure the relative success of economies? What is the meaning of disorder and dictatorship
relative to property rights? What web sites can we go to for information about nations? What
technological and other forces led to major economic changes – especially to ‘hydraulic’
societies, mercantilism and the industrial revolution? How did slavery as an institution differ in
the ancient and early modern economy?
Critiques of Capitalism
Understand the reasons why so many have rejected the ideas and practice of Capitalism. Be able
to explain the major ideas of Marxism and Islamic economics. What is meant by ‘fundementalism’
and how does it apply to choice of economic systems? What arguments are
used to justify capitalism.
What does globalization mean for the future of national economies?
Capitalism in Western Europe
What types of planning have appeared in Western Europe? Be able to compare the aims of
planning with the goals of Marxism and to explain what circumstances have made planning less
important in Europe. What were the aims and effects of privatization throughour Western Europe?
What were the difficulties that attended unification of Germany? Understand the differences and similarities
between the European Union and the United States. What problems
are appearing with common
currency and agricultural policy? How does the organization of labor differ among the major European
states?
Asian Economies
How do the Japanese and Korean economies differ from Capitalist economies in Europe and
America? What features of these systems are now under attack and why? What types of
privatization apply to Asian economies? How do the major Asian economies differ? What lessons
can we draw from the Asian miracle and crisis?
Socialist Economies and the Transition.
Why was the Soviet economy admired in the early 20th Century and despised in the late 20th
century? What characteristics of Russian society contributed to the successes and failures of
Communism? What other kinds of socialism have been tried in Europe? What is meant by a
Third Way? Know what is meant by ‘transition’ and how it is applied in the Communist and
Third world. Explain what problems were unique to several socialist economies as they entered
their periods of transition and how they affected the success of the transition.
Mexico and Iran.
What has been the role of ideology and religion is these two economies? Why is neither a typical
Third World country? How important has oil been in the evolution of their economies? What
barriers are there to modernization and how are these likely to be overcome?
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Fulfillment of Department Objectives
1. Critical Thinking: Comparative Economics is inherently controversial. Students need to think
about what we mean by the success of an economy. Students must form intelligent opinions about the
effects of ideology, religion and historical circumstances on that success. Exam questions, sometimes
prepared, ask students to take a position and defend it with facts and theories learned in the course.
2. Problem solving and Quantitative skills: Analysis in this course is necessarily less formal than in
many other economics courses. Students are, nevertheless, expected to understand and draw graphs in such
topics as supply and demand. Algebraic models and graphs are used to teach the macroeconomic aspects of
the course and Input-output analysis and students are expected to be able to manipulate these models.
3. Communication Skills: All assignments are expected to be presented in clear business English.
In addition to a paper all exams have essay questions.
4. Research skills: Students are required to write a research paper, which must be presented in
outline and two drafts. They are expected to do a literature search on the topic and discuss the literature.
Data should be assembled and presented as appropriate. The are expected to gather data from major
international organizations.
5. Technology skills: All written assignments should be typed using standard word processing
packages. Data should be presented using Excel spreadsheets and students are encouraged to use standard
statistical packages to analyze data.
6. Understanding of the legal, regulatory and ethical environment of business: Comparative
Economics, as currently structured has an increasing emphasis on the nature and variety of property rights.
Interaction with government and types of regulation are also a concern as is the strength and nature of labor
movements. Another important issue will be the status of women.
7. Theoretical and practical knowledge in Microeconomics, Macroeconomics, International
Economics and Public Policy: The course, as currently structured, must try to cover all these area to some
degree. It is to be hoped that many students will be able to bring knowledge gained in other economics
courses to the problems of the economies studied.
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COURSE OUTLINE AND READING ASSIGNMENTS
The Kennett text will be referenced as Kennett. Additional readings may be
assigned.
Topic
Readings
Weeks
I. Introduction – Political and
Economic Systems.
II. Critiques of Capitalism
III. Capitalism in Western Europe
IV. Asian Economies
V. Socialist Economies and the
Transition.
VI. Mexico and Iran.
Kennett Ch. 1 – 5
Heilbroner & Millberg Ch. 1 – 6**
Silanes, et. al, “The New Comparative
Economics*”
Heilbroner & Millberg Ch. 10 – 12. (The
remainder of the book is strongly
recommended.)
David Galston “ Where is
Fundementalism Leading Us?” The
Fourth R, May-June 2003.**
Timur Kuran, “The Genesis of Islamic
Economics ……..” Social Research, Vol
64, No. 2.***
Kennett Ch 6-11
Kennett Ch 12-16
Kennett Ch 16-23
Javier Corrales, “The survival of the
Cuban Regime: A Political Economy
Perspective,” Cuba in Transition, vol.
12.****
Daniel C. Levy and Katherine Bruhn,
Mexico: The Struggle for Democratic
Development. , Univ of CA Press, 2001,
Ch. 1.**(Should be available on net)
Australian Dept of Foreign Affairs and
Trade. “Mexico Country Brief”#
Satya J. Gabriel, “Class Analysis of the
Iranian Revolution of 1979”##
Whit Mason, “Iran’s Simmering
Discontent, “ World Policy Journal,
Spring 2002.###
2 weeks
2 weeks
2 weeks
2 weeks
3 weeks
2 weeks
*Available in library or from http://econ.worldbank.org/files/26865_wps3054.pdf.
**Available in Library. ***Available in library or from http://www.mtholyoke.edu/acad/intrel/kuran.htm,
****http://www.lanic.utexas.edu/project/asce/pdfs/volume12/, #http://www.dfat.gov.au/geo/mexico/mexico_brief.html,
##http://www.mtholyoke.edu/courses/sgabriel/iran.htm, ###http://www.worldpolicy.org/journal/articles/wpj02-1/mason.html
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