Comparative Economics - JPB333
Title: Comparative Economics
Guaranteed by: Institute of Economic Studies (23-IES)
Faculty: Faculty of Social Sciences
Actual: from 2021
Semester: summer
E-Credits: 6
Examination process: summer s.:
Hours per week, examination: summer s.:2/2, Ex [HT]
Capacity: unknown / unknown (97)
Min. number of students: unlimited
4EU+: no
Virtual mobility / capacity: no
State of the course: taught
Language: English
Teaching methods: full-time
Teaching methods: full-time
Is provided by: JEB103
Note: course can be enrolled in outside the study plan
enabled for web enrollment
priority enrollment if the course is part of the study plan
Guarantor: Ing. Vilém Semerák, M.A., Ph.D.
Teacher(s): Bc. Daniel Kolář, M.Sc.
Yermone Sargsyan, M.Sc.
Ing. Vilém Semerák, M.A., Ph.D.
Class: Courses not for incoming students
Incompatibility : JEB103, JPB363
Is incompatible with: JPB363, JEB103
Examination dates   SS schedule   Noticeboard   
Files Comments Added by
download Comparative Economics Syllabus 2024 - corrected.pdf Syllabus. Further files and details are available at the Moodle system. Ing. Vilém Semerák, M.A., Ph.D.
Annotation
The course will be taught in the traditional way (on-site) during the Spring 2024. No streaming or recording of lectures is planned for this semester. Lectures and seminar sessions will be taking place in room 314 (Thursdays, 9:30-10:50, 11:00-12:20).

More detailed information on this course are provided on Moodle: https://dl1.cuni.cz/course/view.php?id=453

The aim of this course is to teach students how to:
(i) Understand the basic features of different economic systems,
(ii) Understand different approaches in analyzing and comparing real economies,
(iii) Understand main concepts useful for explaining the troubles of centrally-planned economies.
(iv) Understand the change from central planning (and authoritarian regimes) to market economies (with liberal/illiberal democracies) in Central and East Europe.
(v) Understand the specific features of current state-capitalism like systems, with the focus on Russian and Chinese economies.

The aim of this course is to compare and contrast countries and regions on different stages of economic development and economic transition, using the new institutional approach. Technological development as the basic reason of economic growth and economic differences in developed countries is analyzed - using different approaches - in the broader economic and social framework, from inventions to innovations.
Last update: Semerák Vilém, Ing., M.A., Ph.D. (21.02.2024)
Aim of the course

Course Learning Objectives:

By the end of this course students will be able:

(i)     Understand the basic features of different economic systems,

(ii)    Understand different approaches in analyzing and comparing real economies,

(iii)   Understand main concepts useful for explaining the troubles of centrally-planned economies.

(iv)   Understand the change from central planning (and authoritarian regimes) to market economies (with liberal/illiberal democracies) in Central and East Europe.

(v)    Understand the specific features of current state-capitalism like systems, with the focus on Russian and Chinese economies.

Last update: Semerák Vilém, Ing., M.A., Ph.D. (15.02.2023)
Course completion requirements

Grading :

Continuous work during the course, active and honest participation in the teamwork, and successful participation in the midterm and final exam are expected from all participants.

Components of the grade:

  • Brief summaries / critical evaluations of assigned texts. These will be written during seminar sessions, there will be 4 such sessions during the semester. Each of these will be worth 5% (i.e. their total contribution to grade equals 20 % (points)). They will be taking place in the 3rd, 7th, 10th and 13th week.
  • Midterm quiz: 20 % (points) in the 7th week.
  • Final test at the end of the semester: 60% (points) - several options/dates will be offered.
    • The test will include
      • A quiz consisting of multiple-choice questions
      • Solution of problem sets, mainly by means of models and graphs. The creative thinking and understanding of the problem (e.g. described by a model), will be graded higher than a mere memorization of facts or formulas.
      • A brief essay on one of several provided topics.

All submitted written work in this course must be original, plagiarism will not be tolerated. 

Grading scale:

91% - 100%: A

81%  - 90%  : B

71%  - 80%  : C

61% - 70%: D

51%  - 60%  : E

0%  - 50%  : F

 

Last update: Semerák Vilém, Ing., M.A., Ph.D. (01.03.2024)
Literature -

Textbooks covering comparative economics more systematically:

J. Barkley Rosser & Marina v. Rosser: Comparative Economics in Transforming World Economy, second or third edition. MITPress.

Paul R. Gregory and Robert C. Stuart: Comparing Economic Systems in the Twenty-First Century. Cengage Learning, 2003

 

Books on selected economic models or countries (selected chapters will be used):

Peter A. Hall & David Soskice (eds.): Varieties of Capitalism. Oxford University Press, 2001. – selected chapters

Anders Aslund: Russia’s Crony Capitalism: The Path from Market Economy to Kleptokracy. Yale University Press, 2019

Yuen Yuen Ang: China's Gilded Age: The Paradox of Economic Boom and Vast Corruption. Cambridge University Press, 2020

Anders Aslund: How Capitalism Was Built. Cambridge University Press, 2nd edition, 2012

Thomas Orlik: China: The Bubble that Never Pops. Oxford University Press. 2020

 

Papers:

Acemoğlu, D. and Robinson, J.A., 2008. Paths of economic and political development.

Becker, S.O., Mergele, L. and Woessmann, L., 2020. The separation and reunification of Germany: Rethinking a natural experiment interpretation of the enduring effects of communism. Journal of Economic Perspectives, 34(2), pp.143-71.

Berman, K.V. and Berman, M.D., 1989. An empirical test of the theory of the labor-managed firm. Journal of comparative economics, 13(2), pp.281-300.

Djankov, S., Glaeser, E., La Porta, R., Lopez-de-Silanes, F. and Shleifer, A., 2003. The new comparative economics. Journal of comparative economics, 31(4), pp.595-619.

Dore, R., Lazonick, W. and O'sullivan, M., 1999. Varieties of capitalism in the twentieth century. Oxford Review of Economic Policy, 15(4), pp.102-120.

Ericson, R.E., 1991. The classical Soviet-type economy: Nature of the system and implications for reform. Journal of Economic perspectives, 5(4), pp.11-27.

Estrin, S., 1991. Yugoslavia: The case of self-managing market socialism. Journal of Economic Perspectives, 5(4), pp.187-194.

Estrin, S., Hanousek, J., Kočenda, E. and Svejnar, J., 2009. The effects of privatization and ownership in transition economies. Journal of Economic Literature, 47(3), pp.699-728.

Von Hagen, J., Strauch, R.R. and Wolff, G.B., 2001. East Germany: Transition with Unification, Experiments, and Experiences. MI Blejer and M. Škrebeditors, Transition: The first Decade), Massachusetts Institute of Technology, Cambridge, pp.87-120.

Hayek, F.A., 2009. The use of knowledge in society. In Knowledge management and organizational design (pp. 7-15). Routledge.

Huang, Y., 2011. Rethinking the Beijing consensus. Asia policy, (11), pp.1-26.

Kornai, J., Maskin, E. and Roland, G., 2003. Understanding the soft budget constraint. Journal of economic literature, 41(4), pp.1095-1136.

Li, X., Brødsgaard, K.E. and Jacobsen, M., 2010. Redefining Beijing consensus: ten economic principles. China economic journal, 2(3), pp.297-311.

Mlčoch, L., 2004. 1.3 The Reverse Control Pyramid of the Socialist Economy. This study was reviewed by: Doc. Milan Tuček, CSc., p.49.

Milhaupt, C.J. and Zheng, W., 2014. Beyond ownership: State capitalism and the Chinese firm. Geo. LJ, 103, p.665.

Olson, M., 2022. 2 Big Bills Left on the Sidewalk: Why Some Nations Are Rich, and Others Poor. In Making Poor Nations Rich (pp. 25-53). Stanford University Press.

Song, Y., 2014. What should economists know about the current Chinese hukou system?. China Economic Review, 29, pp.200-212.

Temin, P., 1991. Soviet and Nazi economic planning in the 1930s. Economic History Review, pp.573-593.

Treisman, D., 2010. " Loans for Shares" Revisited. Post-Soviet Affairs, 26(3), pp.207-227.

Mafianomics: How Did Mob Entrepreneurs Infiltrate and Dominate the Russian Economy?

Williamson, J., 2002. Speeches, testimony, papers did the Washington Consensus fail. Institute for International Economics.

 

The updated/corrected version of the reading list as well as additional materials are available on a special Moodle website (password will be provided during the first session).

Last update: Semerák Vilém, Ing., M.A., Ph.D. (15.02.2023)
Requirements to the exam -

Grading :

Continuous work during the course, active and honest participation in the teamwork, and successful participation in the midterm and final exam are expected from all participants.

Components of the grade:

  • Brief summaries / critical evaluations of assigned texts. These will be written during seminar sessions, there will be 4 such sessions during the semester. Each of these will be worth 5% (i.e. their total contribution to grade equals 20 % (points)). They will be taking place in the 3rd, 7th, 10th and 13th week.
  • Midterm quiz: 20 % (points) in the 7th week.
  • Final test at the end of the semester: 60% (points) - several options/dates will be offered.
    • The test will include
      • A quiz consisting of multiple-choice questions
      • Solution of problem sets, mainly by means of models and graphs. The creative thinking and understanding of the problem (e.g. described by a model), will be graded higher than a mere memorization of facts or formulas.
      • A brief essay on one of several provided topics.

All submitted written work in this course must be original, plagiarism will not be tolerated. 

Grading scale:

91% - 100%: A

81%  - 90%:  B

71%  - 80%:  C

61% - 70%:   D

51%  - 60%:  E

0%  - 50%:    F

 

Last update: Semerák Vilém, Ing., M.A., Ph.D. (01.03.2024)
Syllabus

Course outline with dates:

  1. Introduction: what is Comparative Economics about. How do we compare economies. Examples. (February 22nd)
  2. Dynamics of economic systems. Development of the concept of property rights. Traditional economic systems, New Traditional Economy. Islamic economics. (February 29th)
  3. Market economy/variety of market economies.   Socialist alternatives: motives, concepts, Socialist calculation debate. First summary. (March 7th)
  4. Development of applied alternative models. Soviet-styled model of central planning: functioning and problems. (March 14th)
  5. Yugoslavian alternative: self-managed firms.  Labour-managed firms: theory and performance. (March 21st)
  6. Holidays (March 28th)
  7. Theoretical explanations of the problems of Soviet and Yugoslavian model. Soft budget constraints. Second summary and midterm. (April 4th)
  8. Transition back to market: ideas, implementation, early results. GDR as a special case.  (April 11th)
  9. Focus on privatization: methods, effects on companies, implications for wealth distribution, elites. Third summary. (April 18th)
  10. Chinese economic model: history, Third summary. (April 25th)
  11. Current Chinese economic model? (May 2nd)
  12. Russian turbulent 1990s. Current Russian economic model. (May 9th).
  13. India, Vietnam, other interesting cases. Fourth summary. (May 16th)
  14. Reserved for a possible makeup class or final consultations (May 23rd)
Last update: Semerák Vilém, Ing., M.A., Ph.D. (21.02.2024)