Core
5
6 ECTS
Autumn/spring
None
EC 145
Goran Ridic
2017
Economic Systems in Historical Perspective
Definitions and the Classification of Economic Systems
Economic Systems and Economic Outcomes
How Economic Systems Change
The Setting of Economic Systems
The Theory of Capitalism
The Theory of Planned Socialism
The Theory of Market Socialism
Introducing Three Models of Capitalism
The Anglo-Saxon Model - England and the Industrial Revolution
The Anglo-Saxon Model - the United States Economy
The European Model
The Society Command Economy
China: Market Socialism
System Change in a Global Perspective: Transition
Transition Economies: Output Patterns and Measurement Issues
Introducing Markets: Privatization and the Decline of Government
Macroeconomy: Fiscal and Monetary Issues
Transition and the Global Economy: International Trade and Finance
Transition and the Safety Net
The World Economies: Economic Growth and Performance in Differing Economic Systems
| Type | Number per Term | Duration | Total Time |
|---|---|---|---|
|
Lectures |
20 |
1.5 hours |
30 |
|
Tutorials |
10 |
1.5 hours |
15 |
|
Total |
|||
| Total Guided/Independent Learning Hours |
105 |
||
| Total Contact Hours |
45 |
||
| Total Engagement Hours | 150.0 | ||
| Type | Number Required | Duration / Length | Weighting | Timing / Submission Deadline |
|---|---|---|---|---|
|
Exam |
1 |
3 hours |
50% |
Week 17 |
|
Mid-semester test |
1 |
2 hours |
20% |
Week 8 |
|
Group project with presentation: Case study |
1 |
2000 words 20 minutes presentation |
20% 10% |
Week 10 |
Intended Learning Outcomes:
Analyse the evolution of economic thinking over time and its relationship to historic context
Articulate on the now dominant economic theories and their global, regional, country and business applications
Display knowledge of the main concepts of the major economies of the world.
Understand how economic systems work in both theory and practice, and how economic theory interacts with government policy, history, and culture to explain economic performance.
Articulate on how the BiH economy emerged, and how it compares to other major economies
Demonstrate good comprehension of the histories and workings of the former socialist economies, and also understand the great variation among market capitalist economies
Display a solid insight into the key issues in the comparison of economic systems and the economics of transition
To identify principles and concepts crucial for theoretical frameworks in the field of Comparative Economics and recognize their strengths and weaknesses
Teaching and Learning Strategy:
A variety of approaches to managing the learning process is introduced in order to be able to meet the ILOs. Teaching will be predominantly based on lectures. Lectures will primarily focus on the key text book. In addition to the key text book, supplementary resources will be used. (ILO: 1-8)
Learning is organised and supported to encourage active learning, for example encouraging students to actively participate in class discussions. (ILO: 1-8)
Lab exercises with appropriate tools and practice problems will enable students to apply theoretical knowledge in practice. (ILO: 1-8)
Group project assignment will be based on case studies and it will allow students to comprehend the practical application of theory learned in the class. (ILO: 1-8)
Assessment Strategy:
Midterm exam and Final exam (ILO: 1-8)
Group project (ILO:1-8)
Practical Skills:
The ability to apply core economic theories in the context of transition economies and alternative economic systems.
Understand and interpret the three models of capitalism
Understand and articulate on the different classification of economic systems
To coherently, logically and succinctly advocate positions (not necessarily their own) on economic matters
Ability to create written reports on relevant topics related to the Comparative Economic Systems
Teaching and Learning Strategy:
Lab exercises with tutor-lead support
Group project assignment (PS: 1-5)
Use of quizzes to test student subject knowledge (PS: 1-4)(PS: 1-4)
Assessment Strategy:
Written Exam (PS: 1-4)
Group Project (PS: 3-5)
Transferable Skills:
Critical analysis
Problem-framing and problem-solving skills
Quantitative and numerical skills
Time management skills
Research Skills
Ability to effectively present own and others’ point of view
Communication Skills: Written and Oral
Ability to work in the team
Teaching and Learning Strategy:
Lab exercises (TS: 1-3)
Group Project (TS: 1-8)
Assessment Strategy:
Group project assignment (TS: 1-3,5)
Written examination (TS:1-8)
Set text
Supplementary Materials
Rosser, B., Rosser., M., (2004), Comparative Economic in a Transforming World, 2nd Edition, Prentice-Hall
Clift, B., (2014), Comparative Political Economy: States, Markets and Global Capitalism, Palgrave Macmillan
Mickiewicz, T., (2010), Economics of Institutional Change: Central and Eastern Europe Revisited, 2nd Edition, Palgrave
Vermeiren, M., (2014), Power and Imbalances in the Global Monetary System: A comparative Capitalism Perspective, Palgrave Macmillan
Hommes, C., (2013), Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems, Cambridge University Press
Singh, A., et al, (2013), China’s Economy in Transition: From External to Domestic Rebalancing, IMF
ECB, (2013), China’s Economic Growth and rebalancing, [online], http://www.ecb.europa.eu/pub/pdf/scpops/ecbocp142.pdf (Accessed 12 April 2017).
IMF, (2017), World Economic Outlook, [online], http://www.imf.org/external/pubs/ft/weo/2014/update/01/ (Accessed 12 April 2017).
The Economist [online] www.economist.com (Accessed 12 April 2017).
Please note
This specification provides a concise summary of the main features of the module and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if he/she takes full advantage of the learning opportunities that are provided.
More detailed information on the learning outcomes, content and teaching, learning and assessment methods of each module and programme can be found in the departmental or programme handbook.
The accuracy of the information contained in this document is reviewed annually by the University of Buckingham and may be checked by the Quality Assurance Agency.
Date of Production : April 2017
Date approved by School Learning and Teaching Committee:
Date approved by School Board of Study :
Date approved by University Learning and Teaching Committee:
Date of Annual Review:
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