Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should understand the main objectives of two different types of economic system (capitalism and socialism) in Europe after 1945 and be able to assess the reasons for the capacity of the capitalist economies to renew themselves, and for the failure and collapse of the socialist economies; understand the problems involved in integrating the former socialist economies into the capitalist framework; be able to research and communicate their understandings in verbal and written form.
Synopsis The subject examines the development of the major West and East European economies from 1945 to the present day. Topics include the impact of depression and war; the importance of investment, technological change and trade as sources of growth; the development of trading blocks (EU and CMEA); the retardation problems which developed in both systems in the 1970s and responses to these; the collapse of the CMEA economies; the economic development of the European Union; the economic performance of European economies in the 1990s; prospects for economic growth in Europe.
Assessment Written (3000-word essay): 30% + Tutorial assessment: 20% + Examination (2 hours): 50%