About this course: In 1978, after nearly 30 years of socialist planning under Mao Zedong, China was one of the world’s poorest countries, saddled with an inefficient, inward-looking economy. Today, China is an upper-middle income country and the world’s largest trading nation, contributing more to global economic growth than any other nation. How could such a remarkable transformation take place? This course will examine in detail the reforms that have contributed to China’s economic development and the current challenges facing the Chinese economy. After completing this course, you will be able to: - describe the origin and consequences of China’s key economic reforms since 1978; - explain how features of China’s fiscal and financial systems have impacted development outcomes; - assess the extent to which China has integrated itself into the global economy and the consequences of such integration for China and other countries; - explain the importance of different sources of economic growth during different periods since 1978; and - critically assess the economic and policy challenges facing China going forward. This course does not offer certificate at the moment. Course Overview video: https://youtu.be/YBkhpvWUoIw
Who is this class for: This course is for anyone who is interested in deepening his/her understanding of the Chinese economy. There is no prerequisites. However some familiarity with basic economic principles is recommended, for example having taken an introductory economics course (microeconomics or macroeconomics).
Taught by: Albert Park, Director of the Institute for Emerging Market Studies, Chair Professor of Social Science and Professor of Economics
| Commitment | 6 weeks of study, 2-3 hours/week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
- Video: Course Overview
- Reading: Assignments and Grading
- Discussion Prompt: Discussion: Meet and Greet
- Video: 1.1 China’s Gradualist Reforms – An Introduction
- Video: 1.2 Institutional Change – A Framework
- Video: 1.3 Reform Overview
- Video: 1.4 Decollectivization of Agriculture
- Video: 1.5 The Rise and Fall of Township and Village Enterprises (TVEs)
- Video: 1.6 The Problem of State-owned Enterprises
- Video: 1.7 China’s Gradualist Reforms – Module Summary
- Discussion Prompt: Module 1 Discussion
- Reading: Module 1 Course Reading
- Reading: Module 1 Lecture References
- Video: 2.1 Fiscal and Financial System Reform – An Introduction
- Video: 2.2 Fiscal Decentralization: Pros and Cons
- Video: 2.3 Reforming the Fiscal System
- Video: 2.4 The Soft Budget Constraint
- Video: 2.5 Reforming the Financial System
- Video: 2.6 Shadow Banking: Threat or Opportunity?
- Video: 2.7 Fiscal and Financial System Reform – Module Summary
- Discussion Prompt: Module 2 Discussion
- Reading: Module 2 Course Reading
- Reading: Module 2 Lecture References
- Video: 3.1 Globalization: Trade and Foreign Direct Investment – An Introduction
- Video: 3.2 International Trade: Performance and Policies
- Video: 3.3 Trade and Development
- Video: 3.4 Foreign Direct Investment
- Video: 3.5 Foreign Direct Investment – Firm Visits in China
- Video: 3.6 China’s Outbound Foreign Direct Investment
- Video: 3.7 China’s Outbound FDI – An Expert Discussion
- Video: 3.8 Internationalization of the Renminbi
- Video: 3.9 Internationalization of the Renminbi – An Expert Discussion
- Video: 3.10 Globalization: Trade and FDI – Module Summary
- Discussion Prompt: Module 3 Discussion
- Reading: Module 3 Course Reading
- Reading: Module 3 Lecture References
- Video: 4.1 Economic Growth and Structural Change – An Introduction
- Video: 4.2 Sources of Growth
- Video: 4.3 Structural Change
- Video: 4.4 Resource Misallocation
- Video: 4.5 Productivity Growth
- Video: 4.6 Economic Growth and Structural Change – Module Summary
- Discussion Prompt: Module 4 Discussion
- Reading: Module 4 Course Reading
- Reading: Module 4 Lecture References
- Video: 5.1 Governance and Current Challenges – An Introduction
- Video: 5.2 China’s Governance Puzzle
- Video: 5.3 Incentivizing Local Leaders
- Video: 5.4 Economic Challenges
- Video: 5.5 Rebalancing Growth
- Video: 5.6 Challenge of Rising Wages
- Video: 5.7 Challenge of Rising Wages – Firm Visits in China
- Video: 5.8 Governance and Current Challenges – Module Summary
- Video: 5.9 Economic Reform and Growth in China – Conclusion
- Discussion Prompt: Module 5 Discussion
- Reading: Module 5 Course Reading
- Reading: Module 5 Lecture References
- Practice Quiz: Post-course Survey
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| Audit | Purchase Course | |
|---|---|---|
| Access to course materials | Available | Available |
| Access to graded materials | Not available | Available |
| Receive a final grade | Not available | Available |
| Earn a shareable Course Certificate | Not available | Available |
Good introduction of economic reforms in China since 1978 and their impact on Chinese economy. A must to understand the huge success of this nation, the current debate on China as an unfair competitor vs the US, the challenges ahead to escape the "middle income trap" and enter the high earning countries league.
A basic understanding of economy is not essential but helps in understanding the most technical concepts.
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Great course. Thanks!