Transition Economics
Transition Economics
Instructor: Professor Gerhard Stahl
Class Hours:
Class Room:
Teaching Assistant: Amy Liu, liumi@sz.pku.edu.cn
Office Hours:
Transition Economics studies the policies needed for a fundamental change of an economic system. In the late 20th century the economic transition from the planned economy to the market system was taken as the main focus. This process is still ongoing in numerous countries including China. In the 21th century, the need to achieve sustainable and inclusive economic growth now arouses the attention of the world. Globalization, population growth and climate change compel all societies and their economic systems to adapt to the new challenges and to achieve sustainable economic growth. To achieve the sustainable growth and reach a harmonious society, environmental and social effects should be taken into consideration in economic growth.
Through this course, theoretical framework will be established with various explanations and theories. Conclusions will be drawn from traditional economic thinking and also new school of thoughts developed from political economy, institutional economy and geopolitical economy. Lessons will be drawn from the transition experiences from planned economy to market economy accomplished by some countries in central and Eastern Europe. Moreover, these experiences will be compared with the situation in Asia, especially in China.
Different policy areas as below, which are most important for a successful transition of an economy, will be discussed.
Guest speaker with specific expertise may be invited during the course.
Objectives
This course intends to lead students to build a better understanding of the necessary policies to achieve the transition towards a more sustainable economic development. As future managers and leaders in business, finance, administration and politics, students should learn the challenges to implement policies and be able to work successfully in the changing world shaped by international trends and increased interdependence.
Prerequisites
Students are expected to have a good knowledge of macroeconomics, microeconomics, public finance, as well as interests in current national and international affaires, including urbanization, regional development and economic governance.
2. Course work and grading
An active participation of students is expected
Class attendance and performance 20%
Group presentation 30%
Final examination composed of
individual thesis 30%
PPT presentation 20%
Individual Thesis and PPT
Students can choose a topic of their interests amongst the different areas covered by the course to write a thesis. (5 to 10 pages including supporting evidence; Template: Times News Roman, 12 Font, double spacing)
PPT should be based on and present the main idea of the thesis. (It should not exceed 15 slides)
Group Presentation
Students are expected to study in teamwork, in a more detailed manner, some of the issues of the course. Themes for the teamwork will be distributed in line with the priorities of the main program.
The result of the teamwork will be presented and discussed during the course.
3. Reading List
Additional reading will be provided for some individual courses.
4. Course Schedule (tentative)
1. The characteristics of a planned economy and the criteria for a market economy will be clarified. Different economic schools and scholars focus on different aspects of the society and present different concepts of cooperation between the public and private sector.
2. How do the countries in different economic systems plan their long-term developments? Two examples will be given and analyzed in detail.
12th five year plan of China
Europe 2020, Strategy of the EU
3. Historical experiences of the transition from a planned economy to a market economy will be studied and especially the situation of the former communist countries in east-Europe will be analyzed.
4. The theory of sustainable development will be illustrated: smart, green, inclusive growth.
5. The climate challenge and the social challenge
6. The geopolitical and international challenge
7. Important factors to implement green economy will be studied: sustainable consumption, energy efficiency and energy savings, recycling.
8. Business and green economy
9. Sustainable urbanization and territorial cohesion (urban-rural relationship )
10. Research, innovation and financing of sustainable development
11. Financial Markets: the international financial system (IMF, World bank) and the supervision systems in the US and the EU
12. Developing countries and the International financial markets
13. Implementation of policy, multilevel governance and private public partnership
14. Presentations of the PPTs and conclusions.
Instructor: Professor Gerhard Stahl
Class Hours:
Class Room:
Teaching Assistant: Amy Liu, liumi@sz.pku.edu.cn
Office Hours:
- Course Overview
Transition Economics studies the policies needed for a fundamental change of an economic system. In the late 20th century the economic transition from the planned economy to the market system was taken as the main focus. This process is still ongoing in numerous countries including China. In the 21th century, the need to achieve sustainable and inclusive economic growth now arouses the attention of the world. Globalization, population growth and climate change compel all societies and their economic systems to adapt to the new challenges and to achieve sustainable economic growth. To achieve the sustainable growth and reach a harmonious society, environmental and social effects should be taken into consideration in economic growth.
Through this course, theoretical framework will be established with various explanations and theories. Conclusions will be drawn from traditional economic thinking and also new school of thoughts developed from political economy, institutional economy and geopolitical economy. Lessons will be drawn from the transition experiences from planned economy to market economy accomplished by some countries in central and Eastern Europe. Moreover, these experiences will be compared with the situation in Asia, especially in China.
Different policy areas as below, which are most important for a successful transition of an economy, will be discussed.
- Sustainable consumption and green growth
- Research and innovation as basis for a sustainable economy
- Sustainable urbanization
- Territorial cohesion and urban rural harmonization
- Sustainable financial market
- Institutions and the importance of the legal and social security system
- Implementation problems and multi-level governance
- New international economic system
Guest speaker with specific expertise may be invited during the course.
Objectives
This course intends to lead students to build a better understanding of the necessary policies to achieve the transition towards a more sustainable economic development. As future managers and leaders in business, finance, administration and politics, students should learn the challenges to implement policies and be able to work successfully in the changing world shaped by international trends and increased interdependence.
Prerequisites
Students are expected to have a good knowledge of macroeconomics, microeconomics, public finance, as well as interests in current national and international affaires, including urbanization, regional development and economic governance.
2. Course work and grading
An active participation of students is expected
Class attendance and performance 20%
Group presentation 30%
Final examination composed of
individual thesis 30%
PPT presentation 20%
Individual Thesis and PPT
Students can choose a topic of their interests amongst the different areas covered by the course to write a thesis. (5 to 10 pages including supporting evidence; Template: Times News Roman, 12 Font, double spacing)
PPT should be based on and present the main idea of the thesis. (It should not exceed 15 slides)
Group Presentation
Students are expected to study in teamwork, in a more detailed manner, some of the issues of the course. Themes for the teamwork will be distributed in line with the priorities of the main program.
The result of the teamwork will be presented and discussed during the course.
3. Reading List
- Benjamin J. Cohen (2014), International Political Economy, Massachusetts, Edward Elgar.
- Gerhard Stahl, Sustainable Development is the Key to the Future, pages 334 - 340, in Ms. Liu, David Ness, Huang Haifeng (editor), The Green Economy and its Implementation in China, 2011, Hongkong.
- Stuck in Transition, Transition Report 2013, European Bank for Reconstruction and Development,www.tr.ebrd.com.
- Sonja Opper, New Institutional Economics and its Application on Transition and Developing Economies, pages 389 - 405 in Eric Brousseau, Jean-Michel Glachant edit. (2008) New Institutional Economics, a guidebook, Cambridge.
- Salvatore Zecchini, Transition approaches in retrospect, pages 1 - 34, in Salvatore Zecchini edit. (1997), Lessons from the Economic Transition in Central and Eastern Europe in the 1990, London, Kluwer,
- Urban China, Toward Efficient, Inclusive, and Sustainable Urbanization, (2014), Report of the World Bank and Development Research Center of the State Council, the People’s Republic of China, Washington. Read executive summary from pages 1-120.
- Dirk Kayser, From Black to Blue: How did the Green Economy evolve in Germany? Perspectives on the Development of the Green Economy and Society in German, pages 236 - 254, in Ms.Liu, Mike Henry and Huang Haifeng, edits, 2014, Towards a Green Economy, Singapore.
- Christine Lagarde, “Chinas Transformation: the key steps forward," speech held at the China development forum, Beijing, March 24, 2014.
- Elena Besedina, "Trust and Economic Reform" in Free Policy Brief Series, Mai 2014.
Additional reading will be provided for some individual courses.
4. Course Schedule (tentative)
1. The characteristics of a planned economy and the criteria for a market economy will be clarified. Different economic schools and scholars focus on different aspects of the society and present different concepts of cooperation between the public and private sector.
2. How do the countries in different economic systems plan their long-term developments? Two examples will be given and analyzed in detail.
12th five year plan of China
Europe 2020, Strategy of the EU
3. Historical experiences of the transition from a planned economy to a market economy will be studied and especially the situation of the former communist countries in east-Europe will be analyzed.
4. The theory of sustainable development will be illustrated: smart, green, inclusive growth.
5. The climate challenge and the social challenge
6. The geopolitical and international challenge
7. Important factors to implement green economy will be studied: sustainable consumption, energy efficiency and energy savings, recycling.
8. Business and green economy
9. Sustainable urbanization and territorial cohesion (urban-rural relationship )
10. Research, innovation and financing of sustainable development
11. Financial Markets: the international financial system (IMF, World bank) and the supervision systems in the US and the EU
12. Developing countries and the International financial markets
13. Implementation of policy, multilevel governance and private public partnership
14. Presentations of the PPTs and conclusions.