ECC2810

Comparative economic systems

Dr Geoff Spenceley and Associate Professor Ian Ward

6 points · Two 1.5-hour classes per week · First semester · Clayton · Prerequisite: ECC1000 or equivalent

Objectives On completion of this subject students should understand what is an economic system and how the study of economic systems fits into an overall study of economics; be able to distinguish between capitalist, socialist and communist economic systems as well as different variants of capitalism and socialism; be able to analyse and predict whether or not a particular economic system will survive and to explain why certain systems failed during the twentieth century; understand the relationship between economic analysis and economic systems and be able to apply the analysis to economic policy issues within an economic systems context.

Synopsis A study of economic systems; the differences between them, based on their property, organisational and motivational relations together with the prevailing ideology; how they make choices; how they can be evaluated; and why they change over time. The method of comparative systems will be applied to a number of societies including Australia, China under Mao and today. Will socialism survive in China? Eastern Europe, Germany and Japan: why they need to reform their systems. Malaysia: why the current crisis. Why China achieved a successful reform and Russia remains in severe crisis. Sweden, the European Community, and responses to globalisation. The impact of APEC on Australia and Malaysia.

Assessment Written (1000-word assignment): 10% · Assignment (500 words): 10% · Discussion classes: 15% · Mid-semester test: 15% · Examination (2.5 hours): 50%

Prescribed texts

Ward I Comparative economic systems: Theory and practice Department of Economics, Monash U, 1993

Back to the 1999 Business and Economics Handbook