Aims: To create an awareness of required microeconomic changes to transform an administrative to market economy, by a study of the key required microeconomic changes.
Learning Outcomes:
* To be able to critically appraise the theoretical models and empirical methods applied in (micro) Transition Economics;
* To have sufficient skills to critically appraise policy instruments and recommendations.
Skills:
Ability to develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed).
Ability to select, summarise and synthesis written information from multiple sources (T/F/A).
Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A).
Comprehensive and scholarly written communication (T/F/A).
Concise and effective written communication (e.g. briefings / written exams) (T/F/A).
Effective oral communication (e.g. lecture question and answer) (F).
Ability to apply theory to policy areas (T/F/A).
Content:
Review key theories of economic development, Household economics, population, market fragmentation, migration, financial markets, land, agricultural risk and insurance, inter-linkage, human capital and income distribution, poverty measurement, endogenous technical change, dual economy models, inter-sectoral complementarity and co-ordination failure, institutional economics and the state. Privatisation and restructuring of firms; reforming state enterprises; legal issues; firm genesis; financial markets; virtual and hidden economies; the market for land; tax-benefit systems and the labour market.
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