Economics 140/240 
Professor. V. Treml
April 1997

                 COMPARATIVE ECONOMIC SYSTEMS 
      COURSE OUTLINE AND READINGS ASSIGNMENTS (Revised)
            
Text: Paul Gregory and Robert Stuart, COMPARATIVE ECONOMIC     
SYSTEMS, Fifth edition, Boston, 1995, and class handouts as listed
in [ ].

1. INTRODUCTION.  Gregory and Stuart, Chapters 1, 2, 3 (without
   Appendix 3A) and 4. Characteristics of economic systems;  
   Problems and pitfalls of international comparisons (Index number
   problem: Appendix 12A). Evaluation of economic outcomes. 
   Systemic changes. Conflicts between systems and conflicts
   between civilizations and cultures.
       Class handout: Pareto diagram, Cobb-Douglas Production
       Function
       In /home/treml/:  [asia.140, coops.140, fortrade.140,
       glossary.140, green.140, kornai.140, manifest.140, 
       ppp.140, second-e.140, china-ag.140, china-tv.140,
       collpase.140]  
      

2. THEORY OF CAPITALISM.  Chapter 5. Markets, efficiency, income
   distribution, macro instability, role of the government,
   (Keynes, Monetarists), efficiency and growth. 

3. THEORY OF SOCIALISM. Chapters 6 and 7 (except pages 141-147).
   Marxist-Leninist system and economic planning (inc input-output
   analysis).  Market socialism - a viable alternative to planned
   socialism?  [manifest.140, coops.140]
  
4. CAPITALISM IN PRACTICE: THE AMERICAN ECONOMY. Chapter 8.
   The private sector and resource allocation. Economic stability 
   and growth. Government and the economy: monopoly, externalities.
   [ppp.140]

5. SOCIALISM IN PRACTICE: THE SOVIET COMMAND ECONOMY. Chapters 11
   and 12. (without Appendix). Central planning, prices,
   international trade; enterprises and workers. Decline of command
   economies. End of central planning? [fortrade.140, coops.140]
   and Cobb-Douglas Production Function, class handout 

6. CAPITALISM IN PRACTICE: OTHER MATURE ECONOMIES. Chapter 9.
   France, England, Germany, Japan and Sweden. 

7. DEVELOPING CAPITALIST NATIONS. Chapter 10. India and "Four Asian
   Tigers). [asia.140, ppp.140]

8. SOCIALISM AND MARKETS REDEFINED: CHINA. Chapter 17. Development
   of central planning in China. Agriculture. Gradual reforms.
   Foreign investment. [coops.140; china-ag.140; china-tv.140]
 
9. ECONOMIC SYSTEMS IN TRANSITION.  REFORMS AND CHANGE. Chapters
   13, 14, and 15.  Was Soviet-type socialist system a viable one?
   Shock therapy versus gradual reforms. Economic restructuring,
   macro stabilization, privatization, price liberalization. 
   [collapse.140]

10. EMERGING MARKET ECONOMIES: RUSSIA AND EASTERN EUROPE. Chapters
   16 and 18.   Market infrastructures. Price liberalization,
   unemployment, inflation.

11. SUMMARY AND PROSPECTS. Chapter 19 

First hourly test covering chapters 1-7: February 21, 1997
Second hourly test covering chapters 8-13 and 17, April 14
Final examination, 9-12, May 8, 1997

TA: Erik Weisman, e-mail weisman@lewis.econ.duke.edu
Term paper (Econ 240 students only): Due at 5PM, April 30