ECON 374 is designed to teach you and evaluates the working of different economic systems. The course examines the major economic systems of the world, in both theory and practice. The approach will generally focus on encouraging a general understanding of how economic systems work and how economic theory interacts with government policy, history, and culture to explain economic performances and to answer the basic economic problems and questions of what to produce, how to produce and for whom to produce.
You will be taught widely the diversities of economic system through selected basic theoretical and conceptual issues comparison criteria, using the well-known economic systems of capitalism, socialism, planned and unplanned economic system and market economies as practiced in the selected countries covered are treated in-depth to embody the institutional arrangements in contrast to the USA, UK, Japan, Netherlands, Indian and Nigerian situations. Finally, the economics of the USSR, China, Yugoslavia, Hungary and Cuba are treated following a brief discussion of Marxian Economics such that doctrinal issues in the development of the discipline particularly methodologies are treated in the context of contemporary economic system of Asian tigers , Brazil and Nigeria.
- Teacher: Hasan Rustemoglu