Course Page

The Global Economy -Past, Present and Future

Course Number:

45910


Program

MBA


Concentrations

Economics


Course Description


THE GLOBAL ECONOMY – PAST, PRESENT AND FUTURE

Course Objectives

  • To analyze the performance of the global economy since World War II.
  • To examine the success – or failure – of economic policy in promoting economic growth and price stability.
  • To evaluate prospects for the global economy over the next 5-10 years.

Suggested Texts

Texts will be assigned during the course.

Course Outline

1. Aftermath of the Great Depression and World War II – 1945-1970

A. Erosion of public support for free markets and laissez-faire economic policies.

B. Attraction of government planning, regulation and intervention.

C. Impact of Keynesian economics on public policy.

D. Liberalization of world trade.

E. Economic performance in the 25 years after World War II.

2. Age of Anxiety - 1970-1982

A. Sluggish economic growth, rising unemployment and accelerating inflation.

B. Disillusionment with Keynesian economic policies and revival of free market philosophy.

3. Return of Economic Prosperity – 1983-2007

A. Redefining the role of government in economic affairs.

B. Worldwide ascendancy of market-oriented economic systems.

C. Challenge of technology-driven economic globalization.

D. Debt fueled economic expansion.

4. Global Financial Crisis of 2008-2009

A. What Caused the Recession?

B. Turmoil in Financial markets and global recession.

C. Response of monetary and fiscal policy to the crisis.

D. Pressures for more government regulation and intervention.

5. Aftermath of Recession 2009-2012

A. Slow Recovery in Europe and U.S.A.

B. Impact of European Sovereign Debt Crisis.

C. Are Debt Burdens Still Constraining Economic Growth?

D. Influence of China and India on Global Economy.

E. Long-Term Political and Economic Challenges Facing Global Economy.

F. Prospects for Medium and Long-Term Economic Growth.

(2/12)


Format

Lecture: 100min/wk and Recitation: 50min/wk


Pre-requisites

None