Survey of the Chinese Economy - Professor Satya Gabriel

A Survey of the Chinese Economy

Economics 100
Fall 1998
Monday & Wednesday 10:50-12:00
Skinner 301

Satya J. Gabriel
Associate Professor of Economics
e-mail: sgabriel@mtholyoke.edu
FAX: 413-538-2512

COURSE DESCRIPTION

COURSE REQUIREMENTS

COURSE CALENDAR

COURSE DESCRIPTION

This course provides an application of some of the basic tools of economic analysis to understanding the development of China's economy since the 1949 Revolution, with a review of the pre-1949 economic system. There will be an extensive survey of the oscillations of economic policy since the 1949 Revolution. Contemporary economic policies and problems will be addressed in greater depth than earlier policies and problems, particularly as they impact financial and industrial institutions. The course will examine the microeconomic implications of changes in property and use rights, control over enterprise profit distribution, and entitlements, and the macroeconomic implications of rising unemployment, exchange rate controls, and liberalization of financial markets. The claim of China's political leadership to be constructing "socialism with Chinese characteristics" will be critically examined. This is an introductory economics course. There are no prerequisites. Please note that a higher level version of this course Political Economy of China will be offered at Smith College.

Photograph on the right: Zhu Rongji, newly appointed premier of China.
Zhu is an economist with plans to dramatically downsize the Chinese
government bureaucracy and force the restructuring of state-owned firms.

REQUIREMENTS

Among the objectives of this course is to encourage students to think analytically, to recognize the components of constructing a theory (concepts, logic, coherence), and to develop their skill at producing effective analytical arguments (in writing and verbally) using carefully constructed theoretical arguments and the facts of China's economy. These skills are valuable in the academic endeavor, in general, and to the study of economics, in particular.

Analytical Writing Assignments:

The grade for this course depends on the quality of each student’s work on the written assignments that are defined below (80%) and classroom discussions (20%).

Each student will be responsible for writing eight short essays. An individual essay is valued at 10% of the final course grade.

Students will be evaluated on the basis of the thoughtfulness and depth of understanding of the theoretical material presented in class, in the textbook, and in essays available online. Every essay should have a clear thesis, which should be highlighted in the body of the paper or in a very brief abstract at the beginning of the essay. The thesis simply tells the reader and writer --- "Here's what I'm going to try to prove or disprove in this essay. The points I make in my sentences and paragraphs are designed to make this particular point."

Essays should be approximately three to five pages in length (at most about 1500 words), typed and double-spaced. They can run longer, if you wish, but this is not necessary.

Course calendar Sept. 14

Course introduction.

Sept. 16

Case & Fair, "Chapter 2: The Economic Problem: Scarcity and Choice".

Resnick & Wolff, "Communism: Between Class & Classless" in Rethinking Marxism, Vol. 1, No. 1 (Spring 1988).

Gabriel, " Essay No. 1: Capitalism, Socialism, and the 1949 Chinese Revolution".

Sept. 21-23

Case & Fair, "Chapter 4: Demand, Supply, and Market Equilibrium".

Gabriel, " Essay No. 2: Real Tigers and Paper Tigers: Feudalism, Self-exploitation, and the 1949 Chinese Revolution ".

Sept. 28-30

Student Essay: Economic Factors Shaping the Communist Revolution in China is due this week.

Case & Fair, "Chapter 5: Demand, Supply, and the Price System".