Description

This course integrates ideas from the history of economics with national development experiences to construct a theory of development. Fundamental to economic development is the innovation process through which business enterprises, situated in particular nations, generate productivity. The first part of the course focuses on the advanced nations, particularly Britain, United States, and Japan. Then we look at the emerged economies of South Korea, Taiwan, Singapore and Hong Kong, followed by the emerging economies of China and India. We explore why Russia is lacking in innovative enterprise. We conclude by asking how the integration of the theory and history of economic development can inform strategies to promote economic development characterized by stable and equitable growth.