Master
2020/2021
Comparative Economic Systems
Type:
Elective course (Politics. Economics. Philosophy)
Area of studies:
Political Science
Delivered by:
School of World Economy
Where:
Faculty of Social Sciences
When:
1 year, 1, 2 module
Mode of studies:
offline
Master’s programme:
Политика. Экономика. Философия
Language:
English
ECTS credits:
5
Contact hours:
52
Course Syllabus
Abstract
This course aims to make graduate students familiar with the major concepts, theories, and debates in comparative economic systems. The course is aimed to maintain the students’ representations of the complexity of the economy of global market. Comparative economic systems are often viewed as a divergence of traditional economics types: free and planned economies with a new type of mixed systems. This course focused on the comparison of three main types of economics systems: Anglo-Saxon, Continental and Asian. The course covers many issues to compare legal systems, corporate governance, financial market, energetic systems, human capital, inequality, social policies, etc. Additional attention was paid to informal institutions (corruption and organized crime), which could be “normal” institutions in economic sense.
Learning Objectives
- To develop deep understanding of the major concepts, theories, and debates in comparative economic systems.
Expected Learning Outcomes
- Describes the complexity of the economy of global market
- Compares the differences in legal systems, corporate governance, financial market, energetic systems, human capital, inequality, social policies of Anglo-Saxon, Continental and Asian systems
- Describe the complexity of the economy of global market
- Forecast the likely trends of each of economic systems
Course Contents
- Introduction: Institutes & Economic theory and History
- History of economic development. Growth and Inequality. Modern Debates. Initial classifications and regimes
- Great Divergence: Discussion
- Social structure and policy: "social lifts" and mobility.
- Differences between the Anglo-Saxon, the Continental and the Asian Legal systems. Law and its economic implications
- Market-based corporate governance and corporate control: differences, mixes and compositions
- Three types of systems: The Anglo-Saxon system as a basic liberal model of capitalism. The Continental (European) system with social welfare priority. The Asian system and its evolution after the Asian crisis
- Three systems: financial markets, energy markets and different business-strategies
- Russian hybrid system as a result of 1990s
- Convergence and divergence of economic systems: the competition in attraction of developing countries, BRICS, different systems-based approaches and policies adopting global challenges
- Corruption – definition and classification. Different forms, fields and industries. Main models and approaches. Corruption as a “normal institution”? Corruption Anglo -Saxon, Continental, Asian regimes.
- Corruption and Growth. Consumption and Investments (Savings) in the economy. If Corruption changes economic theorems and to what extent?
- Mafia – complexity of definition, key principles, economic analysis. Social conditions for developing corruption, organized crime (mafia). State failure and entrenching. Organized Crime under three Regimes.
- Anti-corruption measures. Resistance to Corruption and Organized Crime, Legislation, Public Opinion, FATF Transnational organized crime
- Final session: main results and implications of the course
