3.0

credits

Average Course Rating

Over the past three decades, East Asia has been the most dynamic region in the world. East Asia has a remarkable record of high and sustained economic growth. From 1965 to 1990, the twenty-three economies of East Asia grew faster than all other regions of the world mostly thanks to the ‘miraculous growth’ of Japan, Korea, Singapore, Taiwan, China, Indonesia, Malaysia, and Thailand; these eight countries, in fact, have grown roughly three times as fast as Latin America and South Asia, five times faster than Sub-Saharan Africa, and significantly outperformed the industrial economies and the oil-rich Middle East and North Africa regions. Poverty levels have plummeted and human-development indicators have improved across the region. The course is divided into three parts to allow students to develop expertise in one or more countries and/or policy arenas, while also cultivating a broad grasp of the region and the distinct challenges of “fast-paced, sustained economic growth.” Part I will introduce the subject, consider the origins of Asian economic development, and analyse the common economic variables behind the region’s success. It will look at the East Asian Crisis and will consider its lessons and assess whether or not East Asian countries have learned them. While the course will show that there are many common ingredients to the success of the region’s economies, it will also show that each country is different, and that differences could be, at times, quite stark. Hence, Part II will focus on the development experiences of individual countries, with a special emphasis on the ASEAN economies, NIEs, Japan and China. Finally, Part III will consider various topics of special interest to Asia, including trends toward greater regional economic cooperation, both in the real and financial/monetary sectors, and issues related to poverty, migration, and inclusiveness in the region. NOTE: Contact Dr. Dore if prerequisites are not met.