The purpose of this course is to study the challenges that an underdeveloped country, such as Ecuador, faces with the process of world economic globalization. This interdisciplinary course combines economics, emphasizing political economy, and the theories and practice of the development, history, and reality of Latin America.
Prerequisites:
Basic knowledge of Economics. Recommended: at least one Economics course at the undergraduate level.
Method of presentation:
Lectures, guest speakers for special topics, group work, presentations, discussion, and analysis.
Required work and form of assessment:
Class participation (10%), mid-term exam (25%), final exam (35%), final project (30%).
Final Project: Groups of three students will prepare a 7- to 10-page in-depth analysis of one of the class themes. The four sections of the paper include the following: an introduction explaining the relevance of the issue; historical synthesis of the issue; the group’s analysis of the issue, including ideas, criticism, and potential solutions; and conclusions. Each student in the group must edit and approve the entire document. Students will make an oral presentation of their projects to the class.
content:
Introduction
1. Brief review of economic history of Latin America
Readings: Cordero, El Desafío Latinoamericano. Correa, El Reto del Desarrollo.
2. Comparative analysis of principal socioeconomic variables
Readings: PNUD.
3. Structural reforms of the 1990s and their social impact
Readings: BID. Correa, "Reformas Estructurales y Crecimiento en América Latina.” Correa, The
Washington Consensus in Latin America. Lora.
Globalization and Development
4. The Globalization Processes
Readings: Stiglitz. World Bank.
6. The impact of globalization in Latin America
Readings: CEPAL.
Case Analysis
7. The Chilean Case: The inside story of a success
8. The Argentinian Convertibility
Readings: Calcagno.
9. Latin America and Southeast Asia
Readings: Meier.
The Ecuadorian Case
10. Structural analysis of the Ecuadorian economy
Readings: Folleto "Macroeconomic Data".
11. Dolarization: background, effects, and sustainability
Readings: Correa, La Convertibilidad Argentina y la Dolarización Ecuatoriana
Contemporary Problems in Latin America
12. Latin America and the TLC (free trade treaties)
13. The problem of foreign debt
Readings: Acosta.
Conclusions
14. The search for national development projects
Readings: Bruton. Correa, “Fortalecimiento de la Institucionalidad Estatal para la Reactivación.”
Chang. Klitgaard.
15. Social capital and cevelopment
Readings: Dasgupta.
Required readings:
Acosta, Alberto y Oscar Ugarteche. A favor de un tribunal internacional de arbitraje de deuda soberana (TIADS). Quito, Ecuador: ILDIS, 2003.
BID. “Latinoamérica después de una década de reformas.” Informe Anual sobre el Progreso Económico y Social de Latinoamércia, 1997. Washington, D.C.: Banco Interamericano de Desarrollo, 1997.
Bruton, Henry. “A Reconsideration of Import Substitution.” Journal of Economic Literature. Vol. XXXVI, pp. 903-936, June 1998.
Calcagno, Alfredo y Eric Calcagno. Argentina: Derrumbe neoliberal y proyecto nacional. Buenos Aires, Argentina: Le Monde Diplomatique, 2003.
CEPAL. Globalización y Desarrollo. Santiago, Chile: 2002.
Chang Ha-Joon. Kicking Away the Ladder: Development strategy in historical perspective. London, England: Anthem Press, 2002.
Cordero, José Luis. El Desafío Latinoamericano. Caracas, Venezuela: McGraw-Hill, 1995.
Correa, Rafael. El Reto del Desarrollo: ¿Estamos preparados para el futuro? Parte I. Quito, Ecuador: USFQ Publicaciones, 1996.
Correa, Rafael. “Fortalecimiento de la Institucionalidad Estatal para la Reactivación.” Ponencia para el Diálogo Nacional realizado en Quito en enero del 2003.
Correa, Rafael. La Convertibilidad Argentina y la Dolarización Ecuatoriana. Mimeo. Quito, Ecuador: 2003.
Correa Rafael. “Reformas Estructurales y Crecimiento en América Latina: Un Análisis de Sensibilidad.” Revista de la CEPAL Nro. 76. Santiago de Chile: Abril del 2002.
Correa Rafael. The Washington Consensus in Latin America: A Quantitative Evaluation. Mimeo. Universidad de Illinois at Urbana Champaign, 2001.
Dasgupta, Partha e Ismail Serageldin. Social Capital: A Multifaceted Perspective. Washington D.C.: The World Bank, 2000.
Klitgaard, Robert. Beyond “State versus Market”. Cap. 1 y 13. San Francisco, California: International Center for Economic Development, 1992.
Lora, Eduardo and Hugo Panizza. “Structural Reforms in Latin America under Scrutiny.” Ponencia preparada para el seminario Reforming Reforms. Conferencia Anual del Banco Interamericano de Desarrollo. Fortaleza, Brasil: 2002.
Meier, Gerald. Leading Issues in Economic Development. Sexta Edición, Sección 1C. New York: Oxford University Press, 1995.
PNUD. Informe del Desarrollo Humano 2004. New York: Naciones Unidas, 2004.
Stiglitz, Joseph. Globalization and its Discontents. New York: W.W. Norton & Company, Inc., 2002.
Taylor, Lance. “The Revival of the Liberal Creed – the IMF and the World Bank in a Globalized Economy.” World Development. Vol. 25, No. 2, pp. 145-152. 1997.
Toussaint, Eric. La Bolsa o la Vida: Las finanzas contra los pueblos. Quito, Ecuador: Abya-Yala, 2002.
World Bank. Globalization, Growth and Poverty. Washington, D.C.: World Bank, 2002.
The purpose of this course is to study the challenges that an underdeveloped country, such as Ecuador, faces with the process of world economic globalization. This interdisciplinary course combines economics, emphasizing political economy, and the theories and practice of the development, history, and reality of Latin America.
Basic knowledge of Economics. Recommended: at least one Economics course at the undergraduate level.
Lectures, guest speakers for special topics, group work, presentations, discussion, and analysis.
Class participation (10%), mid-term exam (25%), final exam (35%), final project (30%).
Final Project: Groups of three students will prepare a 7- to 10-page in-depth analysis of one of the class themes. The four sections of the paper include the following: an introduction explaining the relevance of the issue; historical synthesis of the issue; the group’s analysis of the issue, including ideas, criticism, and potential solutions; and conclusions. Each student in the group must edit and approve the entire document. Students will make an oral presentation of their projects to the class.
Introduction
1. Brief review of economic history of Latin America
Readings: Cordero, El Desafío Latinoamericano. Correa, El Reto del Desarrollo.
2. Comparative analysis of principal socioeconomic variables
Readings: PNUD.
3. Structural reforms of the 1990s and their social impact
Readings: BID. Correa, "Reformas Estructurales y Crecimiento en América Latina.” Correa, The
Washington Consensus in Latin America. Lora.
Globalization and Development
4. The Globalization Processes
Readings: Stiglitz. World Bank.
5. Multilateral financial organizations
Readings: Stiglitz. Taylor. Toussaint.
6. The impact of globalization in Latin America
Readings: CEPAL.
Case Analysis
7. The Chilean Case: The inside story of a success
8. The Argentinian Convertibility
Readings: Calcagno.
9. Latin America and Southeast Asia
Readings: Meier.
The Ecuadorian Case
10. Structural analysis of the Ecuadorian economy
Readings: Folleto "Macroeconomic Data".
11. Dolarization: background, effects, and sustainability
Readings: Correa, La Convertibilidad Argentina y la Dolarización Ecuatoriana
Contemporary Problems in Latin America
12. Latin America and the TLC (free trade treaties)
13. The problem of foreign debt
Readings: Acosta.
Conclusions
14. The search for national development projects
Readings: Bruton. Correa, “Fortalecimiento de la Institucionalidad Estatal para la Reactivación.”
Chang. Klitgaard.
15. Social capital and cevelopment
Readings: Dasgupta.