Emer­ging Mar­kets - So­ci­et­ies in trans­ition

Course content

The course provides students with knowledge of the development in emerging markets. Some emphasis is put on the BRICS- group (Brazil, Russia, India, China, South Africa) but other emerging economies will also be discussed. Students are at liberty to choose any emerging market and a theme for their projects. However, ASP students must choose an Asian country for deeper analysis. The course focuses on the institutional changes that have contributed to high growth in these economies.
 
The course gives an overview of recent political, institutional and economic developments in the main emerging markets. It is based on an interdisciplinary framework focusing on how institutions have changed, how they contribute to economic growth and development, and how they may act as barriers to change. The focus is on the interaction between politics, institutions (formal and informal - culture) and the economy. Special emphasis is on the relation between business and government at various stages of development. The emerging economies are analyzed in relation to the development in globalization and the challenges related to the new global economic order with the rise of China.

In addition to lectures focusing on specific economies, the course will :include components discussing:

• Economic development models
• The dynamics between politics, institutional change and the economy
• Catching up, extensive and intensive growth, and the middle income trap
• Transition from central planning to the market economy 
• Globalization, FDI, and integration of emerging markets
• Emerging markets and the new global economic order – the China challenge
• EU policies with regard to emerging markets