Time Schedule:
Judith A Thornton
ECON 595
Seattle Campus
Applications of economic analysis to the economic problems of transforming socialist economies. Economic institutions. The role of the state. Privatization and the behavior of decentralized organizations. Integration into the world market. Prerequisite: micro- and macroeconomic theory and permission of instructor.
Class description
This course is about the process of introducing private-property, market institutions, and rule of law into the formerly socialist economy. We look briefly at the institutions of the socialist economy and then survey various aspects of the transition process. Our study emphasizes the new issues in economics that are raised by transition processes. Research on transition focuses on the incentive and information effects of economic institutions. It investigates the links between incentive structures and markets, property rights, and legal arrangements. Empirical work on transition investigates the possible interactions between institutional change and economic performance.
Student learning goals
General method of instruction
Recommended preparation
Class assignments and grading
