How are economies affected by sociopolitical realities like communism, capitalism, and regime change? The course considers the economic histories of three countries in particular—the former Union of Soviet Socialist Republics (USSR), India, and China—and how they are transitioning from centrally planned control economies mostly closed to foreign trade to decentralized market economies mostly open to foreign trade. Economic theory and exposition are used to investigate the lessons these countries learned from planning their economies, the difficulties of development and opening borders to trade, and the modern economic realities these nations face.
Economies in Transition
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