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JOHN CABOT UNIVERSITY

COURSE CODE: "EC 343"
COURSE NAME: "The Economics of China"
SEMESTER & YEAR: Spring 2019
SYLLABUS

INSTRUCTOR: Simona Costagli
EMAIL: [email protected]
HOURS: MW 7:30-8:45 PM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Prerequisites: Junior Standing, EC 202, EC 316
OFFICE HOURS:

COURSE DESCRIPTION:
Chinese economy has gained remarkable growth since 1978 and today is the second largest economy in the world. Due to its size, the country has become a major participant in the world economy and it is currently in a process of large economic and social transformation. The purpose of this course is to help students understand the complexity and challenges of China’s rise and to critically evaluate their implications. After taking this subject, students are expected to understand why China succeeded in maintaining such a high economic growth in the past three decades, the role that the country is playing in the global scenario and what challenges it will be facing in the future.
SUMMARY OF COURSE CONTENT:

 


SUMMARY OF COURSE CONTENT:

The course provides an overview of Chinese economic system and development. The topics covered include: The evolution of property rights in rural land and industry, state owned enterprises, fiscal reform and changing central-local relations, labor market, financial markets and banking, foreign trade and oversea investment, the reform of the RMB exchange rate. A focus will be devoted to the macro-economic policies China adopted to address the 2007 global financial crisis and their implications, as well as the challenges the Chinese economy is facing in the next decade.

The evolving Chinese political economy and economic reforms will be critically examined in a broader international context.

Students are strongly encouraged to read “The Economist” (available at the University’s library), and the “Financial Times” articles concerning Chinese matters, as well as to follow the daily news on the main Chinese economic events.

The instructor will hand out or direct students to additional readings. Materials on the course will be posted on myjcu web page.

Classes will be a mixture of theory and case studies. Relevant economic news of the day will be frequently discussed in class.

During each week, designated pairs of students will present their summaries and critical comments on assigned reading materials.

 

LEARNING OUTCOMES:

LOS 2; LOS 3; LOS 4;

By the end of the course, students should be able to:

a) Understand the path and historical background of China’s economic development;

b) compare, contrast and evaluate the strength and weakness points of China’s economic reforms;

c) apply the economic theories introduced in class to analyze Chinese economic phenomena.

TEXTBOOK:
NONE
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Attendance, participation in class discussion and weekly presentations 15%
Mid term 30%
Project presentationThe project assigned has the objective to: • find and document information; • use information that is relevant to illustrating the question/issue of concern; • present information in tables, charts, graphs that are visually easy to understand and properly documented; • foster the ability to summarize in an oral presentation the key elements of an issue, indicating that the students have clearly understood the underlying details of the topic; • help an appropriate use of empirical information. Provide a 7 to 10 power point slides visual presentation, lecture outline, and bibliography. The issue will be decided by lot from a list provided in the second week. Presentations will consist in a debate between two groups of students (max. 3 students each group). The groups will face each-other sustaining opposite views on the same issue (ex: is the Chinese currency overvalued? Yes vs no; should China change its model of development from an export-investment led growth to a consumption led one? Yes vs no). Each group is supposed 1) to present its view using ppt (or other supports like prezy); 2) to question and discuss the other group’s view; 3) to answer to the professor/public question on the issue. Use at least 5 sources, of which at least 2 must be for empirical data – Wikipedia is not considered a valid source. Please refer to the JCU Frohring Library Reference Librarian or Modern Language Association Style Guide on how to properly cite sources. Grading will be based on: • Clarity of the presentation • Structure of the argument and organization of the information • Documentation of sources as well as graphs, charts, etc. • Appropriate choice of visual information that illustrates the issue clearly and professionally • Depth and insight of the research • Ability to use theoretical and empirical instruments to criticize/support an issue 15%
Final examComprehensive40%

-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the cours
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.

-ATTENDANCE REQUIREMENTS:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed. The final exam period runs until ____________
ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.
STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

Week1

A. I NTRODUCTION AND HISTORICAL BACKGROUND

Week 2

B. ECONOMIC REFORM COMES TO CHINA

B.1. China’s Development Strategy 1: The Post-Mao Reform Period (1980s to mid-2000s)

Week 2

B. ECONOMIC REFORM COMES TO CHINA

B.2. China’s Development Strategy 2: Policies and Outcomes (1950s through mid-2000s)

Week 3

C. THE SOURCES OF CHINESE ECONOMIC GROWTH

C.1.Structural Change and Productivity

Week 4

C. THE SOURCES OF CHINESE ECONOMIC GROWTH

C.2. Measurement Issues

2.1. Purchasing Power Parity

2.2. Reliability of China’s GDP Statistics

Week 4

C. THE SOURCES OF CHINESE ECONOMIC GROWTH

C.3.  China’s Economic Performance: Is Chinese Growth Export-Led?

Week 5

D. LABOUR MARKETS, INCOMES, AND SOCIAL POLICY

Week 6

E. CHINA’S INDUSTRIAL ORGANIZATION AND OWNERSHIP

F. CHINA IN THE INTERNATIONAL ECONOMY

F.1. International Trade

Week 7

F. CHINA IN THE INTERNATIONAL ECONOMY

F.2. Foreign Direct Investment

Week 7

Mid term exam

Week 8

F. CHINA IN THE INTERNATIONAL ECONOMY

F.1. The Exchange Rate Regime

Week 9

F. CHINA IN THE INTERNATIONAL ECONOMY

F.2. Foreign Economic Relations: International Capital Flows

Week 10

G. PUBLIC FINANCE AND FINANCIAL INSTITUTIONS

G.1. Transformation of Financial System in China

G.2. Financial Market Development in China

Week 11 Project presentations

Week 12

G. PUBLIC FINANCE AND FINANCIAL INSTITUTIONS

G.3. China’s Central Banking and Monetary Policy

Week 13

H. CHINA’S MACRO-ECONOMIC POLICIES TO COPE WITH THE GLOBAL FINANCIAL CRISIS SINCE 2008

Week 14

I. CHINA: PROSPECTS AND DIRECTIONS. A CRITICAL VIEW

Final exam: Comprehensive. See the University schedule for date and time.