Economic Development of Underdeveloped Countries

3 credits · Graduate credit

Part I examines the economics of transition from central planning to a market economy, including the socialist system, macroeconomic stabilization, price liberalization and opening up to trade, enterprise privatization and restructuring, labor and financial market reforms, and the implications of transition for economic inequality. Part 2 focuses on issues of macroeconomic growth and development, including the empirical growth literature and the link between development and financial development, property rights, and trade.