THE GLOBAL ECONOMY – PAST,
PRESENT AND FUTURE
- 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
- To evaluate prospects for
the global economy over the next 5-10 years.
Texts will be assigned
during the course.
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
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 –
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
4. Global Financial Crisis of
A. What Caused the Recession?
B. Turmoil in Financial markets and global
C. Response of monetary and fiscal policy to the
D. Pressures for more government regulation and
5. Aftermath of Recession
A. Slow Recovery in Europe and U.S.A.
B. Impact of European Sovereign Debt
C. Are Debt Burdens Still Constraining Economic
D. Influence of China and India on Global
E. Long-Term Political and Economic Challenges
Facing Global Economy.
F. Prospects for Medium and Long-Term Economic