Contemporary economic systems
Associate Professor Ian Ward
One 1.5 hour class per week * Full-year subject * Clayton
Synopsis The aim of this subject is to develop a comparative method covering economic systems, economic analysis and economic ideology, which can be applied to explain why economists disagree about economic policy issues. (1) Australia: enterprise bargaining, with or without centralised wage fixation; industry policy - partial allocative planning, specific non-planned policy, microeconomic reform, even playing field; privatisation of public enterprises; social welfare - voluntary charity, family, state, environmental sustainability. The conflict between the major political parties will be considered. (2) Sweden: what is different about it and why has there been conflict about how to reform the system? (3) Soviet Union and China: a comparative analysis of the Lange, Sik and Gorbachev models; why did the Gorbachev model fail?; what economic system is likely in the former Soviet Union and Eastern Europe?; what relevance does Soviet experience have for China? Can China achieve a viable socialist system?
Assessment Written (two 2500-word essays): 100%