Title of Course: Number of Credits: HSS-491-H01 3 credits Location and Times: MW 10:00 to 11:25 am; Rm: Kupf 104

Type of Course: Seminar

Pre-Class Check up: Please check your e-mail two hours prior to any class for emergency notice

Course Professor: Patrick Beaton Ph.D.. {[email protected]} Phone: 201-998-0326.

Course Website: www.webct.njit.edu

Required Texts: 1. The Commanding Heights: The Battle for the World Economy. Daniel Yergin and Joseph Stanislaw. Touchstone Book Published by Simon and Schuster, New York 2000

2. Three Billion New Capitalists. Clyde Prestowitz., Basic Books, 2006.

Course Problem: With your upcoming graduation you will find yourself in the grasp of an economy that is global. How does it differ from the economy that nourished you by supporting your parents and grandparents? That now long past economy probably formed the basis for their understanding of the world and your understanding of how to survive in it. Our semester will be spent exploring and analyzing the forces that appear to shape the economies of the world and that appear to be shaping our future lives. Our objective is to help you prepare yourself to prosper in this new dynamic world.

Course Method: It is often stated that experience is the best teacher. Yet, experience of the world and its many economies is at best a life long process requiring much travel and many discussions with interesting individuals worldwide. University classrooms may seem to be poor places to acquire such experiences. However, and creative minds are changing that. Our work will be centered on a Web based package integrating film, voice overlays, and interviews with and writings from political economic, social and historical figures. The central knowledge base will be the text and the PBS web program “The Commanding Heights.”

Course Responsibilities for Students

1. Class attendance is required and attendance will be taken. On time attendance credit will accumulate toward your final grade.

2. Short concise written homework will be required for most classes and will be due on an assigned date and in a required form.

Please use the following format: a) Prepare your documents in MS Word, Excel or the equivalent. b) Make Page 1 as follows: Course title, Your Name, Assignment title taken from this syllabus, Date assignment made, and Date assignment turned in. c) Page 2. State the specific problem you are writing about. Use headings to effectively group paragraphs into meaningful sequences. d) Last page: prepare a short conclusion, either descriptive or prescriptive based upon your findings.

3. “Your Country” MS Word Document: You will choose a country “Your Country” to be used to explore the ideas raised in Commanding Heights. You will track “Your Country’s progress over the 20th Century and report on it periodically. During Week 10 you will be asked to sum up your examination of “Your Country’s” status in this the beginning of the 21st Century as well as the foreseeable future. This should be done in a 5 to 10 page MS Word document. The document must contain economic and demographic information in tabular form for the 20th Century + as well as well-cited information on political, social and cultural distinctions or trends characteristic of “Your Country”.

4. The Final Report and Power Point Presentation: A final research document and accompanying Power Point slide set will be required of each student. The document should focus on the forces, institutional, sociological, cultural or natural, that are embedded within the idea of globalization. A list of potential topics is listed in the appendix and many topics will be investigated in the course of this class. Topics such as dollar hegemony, , migration, women’s rights, nationalism, , democracy, free markets, global warming, counterfeit medicines etc. can be explored in and of themselves or in the context of “Your Country”. A wealth of written and video opinion-information is available from the web and in the journals

Each student will prepare a document in accordance with the NJIT Humanities Department’s statement of Information Literacy. Information Literacy will be judged on the basis of demonstrated proficiency in: 1) Citation of evidence, 2) Presentation of evidence showing independent research both in the field and/or from secondary sources, 3) Appropriateness of evidence used in the student’s thesis and 4) Integration of thesis and evidence to deepen reflective understanding or interpretation of the thesis problem.

The final section of the final research document must address how you might adjust your professional career track in light of what you are learning about globalization and “Your Country”.

Including a title and citation pages, the document should be about 10 pages at 12 point and 1 1/2 line spacing. Your topic and report outline must be approved in advance by your professor. A list of substantive topics is shown in the appendix to the syllabus. To further aid you in this effort, I strongly suggest that you log onto the Group’s web page, search the drop down menus for Learning and go to B-SPAN and located the video presentations under the title: “PSD Forum: Where is the World Going?,” and examine Tom Friedman’s 21 minute presentation.

The Final Report Power Point presentation should consist of 10 to 12 slides including title page slide and conclusions slide. Use a background template that makes your print easy to read at a distance and maintain a point level of at least 22 to 24. Use special affects with caution. Your presentation should last 20 minutes with 10 minutes for questions from the class.

5. Mid-Term exam.

6. Final Comprehensive exam (optional).

9. Student final grades will be based on the professor’s evaluation of the student’s work as reflected in the active attendance of the student, the overall semester effort displayed in understanding the problems presented in the homework assignments, and the three major reports. My evaluation of your work will be weighted strongly towards these three reports: 1) My Country Report, 2) your MS Power Point presentation, and 3) the Final Research Document.

10. Students will maintain and submit a Portfolio for review at the end of the semester or face an incomplete for the course. Please start the Portfolio project with a folder available through the university bookstore and include this syllabus as your first entry.

Schedule

A Note to Honors Students: You are at your best when you can draw from a broad range of knowledge and discuss, critique and argue findings. The curriculum you are about to explore draws from a vast range of contemporary sources to provide you with descriptions of phenomena, supported or unsupported with theoretical, cultural or political points of view. Viewing and reading the various assignments will require and efficient study practice. Learn to focus and skim simultaneously; be constantly critical of what you are seeing or reading; be searching for the unspoken or hidden point of view of the author, of unstated assumptions regarding conditions necessary for an interpretation of a reality to hold and be constantly striving to integrate your findings into a coherent whole.

Before Class 1. Where are we Headed?

Read: Chapters 13 and 14, The Commanding Heights: The Battle for the World Economy. By Daniel Yergin and Joseph Stanislaw. Read: Global Political Policy Alternatives: A New Global Blueprint by David Brooks, NYT June 2007. Read: Culture and Globalization: The Human Community. David Brooks, NYTimes May 2007.

Class 1 Major Topic: What is globalization and what is all the fuss over globalization?

In Class:

1. Watch Commanding Heights (CH), Ch 1 Prologue. 2. What is the fuss over globalization and free markets? You should reexamine the definition given you in your course for “perfect competition”, free trade and “comparative advantage” using a source such as http://en.wikipedia.org/wiki/Perfect_Competition. or the Federal Reserve Bank of Richmond, at www.rich.frb.org and search for: The Free Trade Debate: The Illusion of Security Versus Growth by R.L. Hetzel. An excellent examination of global issues can be found in www.globalissues.org. In addition, Balance of Payments and trade related information can be found in the Economic Statistics Briefing Room International Desk at www.whitehouse.gov/fsbr/international.html .

Home Work:

1. Read: An Unexpected Odd Couple: Free Markets and Freedom, by Patricia Cohen NYT, July 2007. 2. Measuring Globalization: The Top 20 in 2006. http://www.atkearney.com/shared_res/pdf/Globalization-Index_FP_Nov- Dec-06_S.pdf 3. FYI: An interesting reference work explores where cross boarder (international) will be going in the near term. http://www.atkearney.com/shared_res/pdf/FDICI_2005.pdf

4. Written Home Work Assignment 1a: Read: The Basics of Foreign Trade and Exchange. Prepared by the New York Federal Reserve Bank and accessible freely at http://www.newyorkfed.org/education/fx/print.html . Then, log onto www.bea.gov and click on the heading: International Economic Accounts. Examine the “Highlights” sections: 1) Balance of Payments 2) Trade in Goods and Services, and 3) International Position.

Write a short several page essay describing your findings regarding: 1) free trade, 2) comparative advantage, perfect competition, 3) balance of payments and balance of trade, 4) the strengthening or weakening exchange rates and 5) the role of central banking in international trade focusing on both fixed and flexible exchange rates and the rise of petrodollars. You may also use Wiki for reference material on the above.

5. Written Home Work Assignment 1b. Examine the list of countries in the Commanding Heights PBS website{www.pbs.org) and choose one for “Your Country” studies throughout this course. Write a short paragraph explaining why you choose your particular country. ______

Class 2. Major Topic: Setting the historical stage for our current world: The Fall of the Old Order in Global Affairs. Secondary Topic: Normative economic theory: left and right.

In Class

1. Watch (CH) Ch 2 The Old Order Fails, and Ch 3 on the Heights. 2. Discuss relevance of this turmoil to today’s world: free markets, central planning, mixed economies, microeconomics and macroeconomics.

Home Work:

1. Written Home Work Assignment 2: Using the Commanding Heights website at Ideas, Essays: Read the following segments: a) Adam Smith and the Origin of b) Marx’s Analysis of Capitalism, and c) Lenin’s Critique of Global Capitalism. d) “Colonialism” in Wiki. e) CH Text, Introduction.

Then, based on these readings, write a three or more page paper describing the: “Old Order” as the term is used in the Commanding Heights video: segment 2. In the paper, discuss the concepts: perfect competition and free trade in the context of those (peoples, nations etc) who benefited and those who did not benefit from the Old Order. What would the world look like today if the “Old Order” had continued to the present day?

Class 3: Major Topic: Market Failure and the Rise of Government Controlled Economies. Secondary Topic: Demographics and how they affect globalization and . Technical Topic: GDP, what it is and what it purports to measure.

In Class: 1. Watch (CH) Ch. 4 The Capitalist Collapse and Ch. 5 Global Depression. 2. Discussion period: , Regulated Capitalism, , Depression, . 3. Technical Review: What is GDP? What is it good for? Use the Barnes and Nobel Sparknotes for a quick review, see: http://www.sparknotes.com/economics/macro/measuring1/section1.html

Home Work:

1. Read: 1 . The German 1923. CH Ideas: Essay. 2. The Rise of State Owned Companies. CH. Ideas: Essay. 3. Commanding Heights Text: Ch.2, The Curse of Bigness 4. The Global Impact of Demographic Change. N. Batini et al, IMF Working Paper Jan 2006, Read Chapters 1,2,4, and 6.

Written Home Work Assignment 3: GDP Technical Assignment found on the course Webct site.

Class 4: Major Topic: Logic of Socialist and Mixed Economies as opposed to Economies Technical Topic: Measuring threats to the macro economy: inflation and unemployment.

In Class:

1. Watch (CH) Ch 6 Worldwide war and Ch 7 Planning the Peace. 2. Discussion period. Bretton Woods Conference, Potsdam, Keynesianism, Sacredness of private property, winning the peace, freedom is an absolute, scientific . 3. Business Cycles 4. Technical Review: Inflation and Unemployment: Meaning and Measurement.: You may use the Barnes and Nobel Sparknotes for a quick review. http://cgi.sparknotes.com/hlite.mpl?pd=0&page=section1.html&nfs=0&gu ide=%2feconomics%2fmacro%2fmeasuring2&words=inflation as well as http://www.sparknotes.com/economics/macro/measuring2/section2.rhtml

Home Work:

I. Read:

a. Labor Nationalizes the Heights. CH Ideas: Essay. b. The Birth of the British Welfare State. CH Ideas, Essay. c. Bretton Woods System Sections 1 through 6 at http://en.wikipedia.org/wiki/Bretton_Woods_system d. Keynesian Economic Theory. CH. Ideas: Essay. e. Keynes in America: The New Deal CH. Ideas: Essay. f. CH Text, Chapter 3.

II. Written Home Work Assignment 4. Complete the assignment shown in the Inflation Price Index Homework file to be found on the course Webct site.

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Class 5: Major Topic: The challenge to Keynesian Economic Policy. Reemergence of the Capitalist Justification for Free Markets Secondary Topic: Oil!

In Class:

1. Watch (CH) Ch 8 Pilgrim Mountain, Ch 9 Germany’s bold move, and Ch 10: ’s Way. 2. Discussion period. Wage/, Black Markets, Isolated self- sufficiency, The Commanding Heights 3. Special Research Topic 1: Peak Oil. Film: A Crude Awakening: The Oil Crash. 4. Peak Oil Caucus: Chairs Bartlett, Udall, comment on National Petroleum Council report: http://www.eenews.net/tv/video_guide/650 5. Contrary argument: National Petroleum Council: Facing the Hard Truth About Energy. http://www.npc.org/

Home Work:

Required Reading.

1 Hayek’s Road to Serfdom. In CH Ideas, Essay. 2 CH Text, Chapter 1. 3 Prestowitz, Chapter 8. 4 Executive Summary Peaking of World Oil Production: Impacts, Mitigation and Risk Management by Robert L. Hirsch et al, Feb 2005. found at http://www.bartlett.house.gov Click on Issues Tab and go down to and click Peak Oil and locate Hirsch Report also check the 2007 GAO Report.. 5 Congressman Roscoe Bartlett’s statement in the Congressional Record: House of Representatives: GAO Report on Peak Oil, March 9, 2007. 6 Big Rise Seen in Demand for Energy. Jad Mouawad, NYTimes July 07

Written Homework Assignment 5:

Write several pages on the recent economic, energy and geographic position of “Your Country”. Use the Commanding Heights country reports and the CIA World Factbook. Given the importance of Peak Oil as described in the Hirsch report and Rep Bartlett’s presentation, explore the consumption, production and reserves where appropriate of electricity, petroleum and natural gas. Report statistics in both per capita and per unit of Real GDP using its purchasing power parity measure.

Use the Commanding Heights country reports, the CIA World Factbook https://www.cia.gov/cia/publications/factbook/geos/br.html and the World Bank statistical data base to help explore your country.

Optional Viewing: Peak Oil? Four Corners Broadband Edition at http://abc.net.au/4corners/special_eds/20060710/default_full.htm

FYI: The movie: Syriana with George Clooney, Matt Damon and Jeffrey Wright provides a human view of the economic issues surrounding oil. ______

Class 6: Major Topic: Government Failure? Failure of Mid-Century’s Mixed Economies and Voices for Unconditional Capitalism: Rutgers University’s home grown Nobel Laureate! Secondary Topic: Globalization and Migration Technical Topic: Exchange Rates

In Class:

1. Watch (CH) Ch. 11 Chicago Against the Tide, Ch 12, The Specter of , and Ch. 13, a Mixed Economy Flounders.

2. Discussion: Forces of nature or man made machines: Gravitation, Markets etc. Stagflation, Risk-taking and the Welfare State, Where does fairness come in?

6. Technical Review: Monetary versus Fiscal Policy. For your review, check: http://www.sparknotes.com/economics/macro/policydebates/section1.html

7. Special Research Topics 2: Migration! Jan Karlsson “International Migration: Problem or Opportunity”. Search BSPAN for http://info.worldbank.org/etools/BSPAN/presentationView.asp?EID=785&P ID=1605

Home Work:

Required Readings:

The Chicago School. (CH). Ideas, Essay Nixon Tries Price Controls. (CH). Ideas, Essay. The Rise of in the U.S. CH. Ideas: Essay. CH Text: Chapter 5. Japanese Engineers, Martin Fackler, May NYTimes 2007. Who was , Paul Krugman, New York Review of Books, Feb 2007.

Written Homework Assignment 6a: Exchange Rate Technical Assignment. Available in Course Webct site.

Written Homework Assignment 6b: Write a short essay describing the issues of international migration as informed through the work of Jan Karlsson.and others.

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Class 7. Major Topic: Dissatisfaction at home and abroad; Regulation and prices are up and Cadillac’s are down. Reform is initiated in Britain and the US. Secondary Topic: Markets and Democracy.

In class:

1. Watch CH, Ch. 14: Deregulation Takes Off, Ch 15 Thatcher Takes the Helm, Ch. 16 Reagan Rides In. and Ch 17: War in the South Atlantic.

2. Discussion: Reaganomics, Regulated Capitalism, Fiscal vs .

5. Special Research Topics 3: Markets and Democracy: “The Promise and Peril of Democracy” Presented by Former President Jimmy Carter, World Bank, 2005 B-SPAN.

Homework:

Required Readings: 1. Reaganomics. CH. Ideas: Essay. 2. Another Man’s Honor, NYTimes 2006. Available on course Webct site. 3. CH Text, Chapter 4. 4. Skim: Crisis of Democracy 1973 Trilateral Commission Report. This report examines democracy as a human defined construct with benefits and costs. 5. Skim: Global Governance 2003, Trilateral Commission Report. 6. Rethinking : Latest Death of Teenager in South Unsettles Britain. Alan Cowell, NYTimes Feb 2007. 7. Democracy and Nation Size. Gar Alperovitz, NYTimes Feb 2007.

Written Homework Assignment 7a:

Write several paragraphs on the social, cultural and political position of “Your Country” from the turn of the twentieth century up to the end of WWII. Use the Commanding Heights country reports and the CIA World Factbook https://www.cia.gov/cia/publications/factbook/geos/br.html to help explore your country; as well as the World Bank Institute “Governance Indicators” available at www.govindicators.org as well as the key development data and statistics found at the World Bank. http://web.worldbank.org. Click the Data and Research TAB, then go to the Data Frame and click the Pull Down menu: Key Statistics and go to Online Databases. Next, click the phrase: Key Development Data and Statistics and find you “My Country” and select the data you need to complete your “My Country Report” due in week 10. In addition, time series data from 1990 to 2004 for FDI, DGP, Trade etc. is available at http://www.atkearney.com/main.taf?p=5,4,1,127,1 When using raw statistics or indicators from international organizations’ data bases, you should compare you country with that of a reference country such as the USA so that your audience better understands the meaning you are trying to give to the variable or indicator. Additional information on the indicators can be found under the Data Frame at Key Product Series, World Development Indicators 2007.

Written Homework Assignment 7b: Write a short essay summarizing the thesis of President Carter in the Promise and Peril of Democracy.

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Class 8. Major Topic: Free market Capitalism seems to win out over the mixed economy. Secondary Topic: Conditions underlying the successful integration of democracy and markets.

In Class:

1. Watch (CH) Ch. 18 The Heights Go up for Sale and Ch. 19. The Battle Decided? 2. Discussion: 3. Special Research Topics 3 continued: Democracy, Markets and Freedom. World on Fire: A discussion with Amy Chua. World Bank B-SPAN 2004.

Home Work:

1. Read: The Birth of Privatization. CH Ideas: Essay. 2. Read: Does Free Trade Lead to Democracy: America’s “Missionary Stance” CH Persons: Interview with Lee Hsien Loong. 3. Steven Myers: Ukraine’s Democracy Gasps for Air. NYT June 2007. 4. Sabrina Tavernase: Turkey, Democracy and Islam. NYT June 07. 5. Simon Romero: Venezula’s Democracy under Fire. NYT June 2007. 6. New Thai Constitution Paves Way for Vote. Seth NYTimes, Aug 20, 2007

Written Homework Assignment 8a: Log onto the Bank of International Settlements www.BIS.org and click the Tab: “Central Banks Hub” Go to Your Country’s central bank web page and examine the type of information contained therein. Write an outline of the types of content and then conclude with a short essay on the bank’s analysis of “Your Country’s” economy: past present and future to the extent you can find such information.

Written Homework Assignment 8b : Write a short essay on the relevance of Amy Chua’s thesis to a current policy issue involving democratization. ______

Class 9. Major Topic: Can there be an Economic Transformation without Pain? The Failing Economies: The USSR, India and Latin America. Secondary Topic: What do we as human beings value: possessions, poverty and fairness as social and political issues.

In Class:

1. Watch (CH) Episode Two: Ch 1 Prologue, Ch 2. The Ghosts of Norilisk, Ch. 3 Behind the Iron Façade, Ch 4. India’s Permit Raj, and Ch. 5 Latin American Dependencia. 2. Discussion: Standard of Living, Isolation and the environment, and Productivity, Isolation and Quality of Life. 3. Research Topics 4: Poverty and Fairness. World Bank Presidential Fellows Lecture Series 2004: “Working for Fair Globalization,” presentation by ILO Director General Juan Somavia http://info.worldbank.org/etools/bspan/PresentationView.asp?EID=63&PID =1179 BSPAN Video Presentation

Home Work:

1. Read: CH Essays Dependency Theory 2. Read: Joseph Stiglitz “The Importance of Sequencing and Pacing to Successful Economic Reform. CH Persons. 3. Read: Joseph Stiglitz “ The Chilean Miracle: “Combining Markets with Appropriate Reform”. CH Persons. 4. CH Text, Chapter 8. 5. The Streets where the Average Age of a Prostitute is 14. Susan Stewart, NYTimes June 2007. 6. Cambodian Sex Slaves, Nick Kristoff, NYTimes, Jan 2004.

Written Homework Assignment 9a: What was the status of your country from the end of WW II to the current time period. Data sources should include the Commanding Heights country data bases, the CIA World Factbook Use data in CH or elsewhere on the Web to compare the status or growth and development of your country with that of the USA or another country in your country’s region. The CIA factbook can be accessed at: https://www.cia.gov/cia/publications/factbook/index.html

Written Homework Assignment 9b: Write a short essay describing the thesis of Juan Somavia and its relevance in the 21st century.

Class 10. Major Topic: Pure Capitalism: Neocon capitalism applied to the many different nations in the world. Secondary Topic: Conditions for capitalism to succeed in developing countries.

In Class:

1. Watch (CH) Episode Two Ch 6 Counterrevolution in , Ch 7 Chicago Boys and Pinochet, Ch 8 Heresy in the USSR and Ch 9 ’s Solidarity. Corresponding text readings: Ch. 10. Ticket to the Market: The Journey after Communism. Ch 11. The Commitment: Europe’s Search for a New Social Contract. 2. Discussion: Law, property rights, regulation and . 3. Special Research Topic 5: Has Capitalism Failed Developing Countries? “Culture Clash: A Talk with Hernando DeSoto” at http://www.uncommonknowledge.org/700/715.html

Home Work:

Read: “Shock Therapy”in Poland and Russia and Yeltsin’s Mistake. CH Persons, Mikhail Gorbachev. Read: Out of Siberia, a Russian Way to Wealth NYTimes 2006. Available at the course Webct site. Read: CH Text, Chapter 9. Read: Seeking Signs of Literary Life in Iran. Azadeh Moaveni NYT May 2007. Read: Backs Property Law, Buoying . Joseph Kahn NYTimes March 07. Political Colashes Shake Venezuela’s Strained Oil Industry, NYTimes, July 2007 Chavez Looks at his crities in the Media and sees the enemy. Simon Romero, NYTimes, June 2007. Chavez threatens to jail price control violators. Simon Romero, NYTimes, Feb 2007. Income gap is widening in US. David Gay Johnston, NYTimes March 2007. China’s Wealthy Live by a Creed: Hobbes and Darwin, Meet Marx, by Yilu Zhao, Feb 2004. Lybia says it will lay off 400000. Reuters, Jan 2007. China’s Trade in Carries a Price Tag , Polgreen and French, Aug 2007.

Written Homework Assignment 10. Write a short essay describing Hernando DeSoto’s thesis and its current relevance to Latin America or Africa.

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Class11. Major Topic: Neocon capitalism in Latin America and Central Europe while simultaneously East and merge and the EU talks seriously of a of Europe Secondary Topic: Globalization and the Environment.

In Class:

1. Watch (CH) Episode Two: Ch 10 at the Brink, Ch 11 Shock Therapy Applied, Ch 12 The Miracle Year and Ch 13 Poland in Transition. Corresponding text readings: Ch. 9 Playing by the Rules: The New Game in Latin America. 2. Discussion: Shock Therapy, 3. Special Research Topic 6: The Global Environment and liberal free market economics. Al Gore “An Inconvenient Truth: A Global Warning”. Video shown in class.

Home Work:

Joseph Stiglitz: “Bolivia and Argentina: Stabilization Without Economic Growth. CH Persons. Middle Stance Emerges in Debate Over Climate, New York Times January 1, 2007 Home on the Rainforest, William Powers and Glenn Hurowitz, June 2007. In the Amazon: Conservation or Colonialism? Larry Rohter, NYTimes, July 2007. Review: The Stern Report, www.sternreview.org.uk Review: Relevant arguments in the energy-environment policy argument found at http://www.nytimes.com/ref/science/earth/energy.html 4. FYI: Review the following World Bank BSPAN presentation quickly in order to identify the key issues facing environmentalists and environmental economists: “Can Economic Growth Solve our Environmental Problems?” A Debate with Herman Daly and Paul Portney BSPAN World Bank. 2004. 5. CH Text Chapter 10. 6. Pemex Failure for Mexican Oil. Elizabeth Malkin, NYTimes March 2007. 7. How Societies Fail-And Sometimes Succeed. Jared Diamond video.google.com/videoplay?docid=4271982381147720351 also see Jared Diamond in Wiki.

Written Homework Assignment 11. Prepare a short outline the key environmental issues facing the 21st century. ______

Class 12. Major Topic: The USSR and India seek an alternative to a Centrally . Secondary Topic: Infrastructure planning and development in developing countries.

In Class:

1. Watch (CH) Episode Two: Ch 14 Gorbachev Tries China, Ch 15 The Soviet Free Fall, Ch 16 Reform Goes Awry and Ch 17 India Escapes Collapse. 2. Discussion. Context of Economic Policy: vs Agriculture. Where are the early converters today? Crony Capitalism, 3. Special Research Topics 7: Infrastructure. Ioannis Kessides. “Reforming Infrastructure: Privatization, Regulation, and Competition. World Bank B_SPAN.

Home Work: Read: CH Text, Chapter 8. India and GE, NYT 2007 India Currency Rise NYT May2007 Electricity Crisis Hobbles an India Eager to Ascend. Somini Sengupta NYTimes May 2007 India finds its economy on the verge of overheating. Keith Bradsher, NYTimes Feb 2007. India’s Banks Unproductive. Heather Timmons, NYTimes, March 2007.

Written Homework Assignment 12: Write a short essay identifying the issues of infrastructure in developing economies. ______

Class 13 Major Topic: The Unbelievable Happens: the USSR is No More! Secondary Topic: Culture, Gender and Development.

In Class:

1. Watch (CH) Episode 2: Ch 18 Russia Tries to Privatize, Ch 19 Loans for Shares, Ch 20 Closing the Deal and the summary Ch 21 A Decade of Radical Change. 2. Discussion: State Industries, The pros and cons of privatization. Report card on economic liberalization. 3. Special Research Topics 8: Culture Gender and Development. Gender Based Violence and Equitable Development: The Role of the International Community. Yakin Erturk, Susan Villaran Paul Wolfowitz etal BSPAN 2005..

Home Work: 1. Read: “Shock Therapy in Russia: Was There an Alternative?” CH Persons Joseph Stiglitz. 2. Read: “Out of Siberia, A Russian Way of Wealth.” NYTimes, Aug 20, 2006. Available at course Webct site. 3. 6. Norilsk Raises bid for LionOre . NYTimes Ma 07.

4. Indian Women and Western Skin Care Treatment May 2007 5. A Quiet Revolution in Algeria: Gains by Women. Michael Slackman, May 2007. 6. High Crime stifles Latin Economies. Jens Erik Gould NYTimes Oct 2006. 7. Tunisia as an Arab Women’s Rights Leader, Andrea Barron, Globalist Perspective, July 11, 2007. 8. Culture counts: Interview with David S. Landes-Coolidge Professor History and professor of economics at Harvard University found at http://findarticles.com. You can print the full interview out by pressing the “print” icon found above “Advanced Search” once you have found the article.

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Class 14. Mid Term Exam. (3/05)

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Class 15. Major Topic: The Beginnings of the New Globalization and the New Rules of the Game.

In Class:

1, Watch (CH) Episode 3: Ch. 1 Prologue, Ch 2 Global Idea, Ch 3. NAFTA: The First Test, Ch 4. Crossing Borders, Ch. 5 The Global Market, and Ch 6. Emerging Market Hunters. 2. Discussion What are the rules? Who writes the rules? Trade liberalization, NAFTA, Inequality. 3. Office of the U.S. Trade Representative http://www.ustr.gov/Trade_Agreements/Bilateral/CAFTA/CAFTA- DR_Final_Texts/Section_Index.html 4. Special Research Topic 9: Rules of the Game. Joseph Stiglitz, Making Globalization Work. Goggle Video . http://www.wto.org/

Homework:

1. Read: CH Persons Joseph Stiglitz, “The North-South Divide: Who Makes the Rules, and Who the Rules Benefit”. 2. Read: Prestowitz, Ch. 2. 3. Optional Reading: “Rich and Poor in the international economic system” The Andreas Papandreou Memorial Lecture by Joseph Stiglitz, 20 October 2000. Find at: http://www.agp.gr/english/activities/lectures/2000/stiglitz/stiglitz_speech.stm 4. Kidnapping and Slavery in China Howard French NYTimes June 2007 5. Globalization of Food Ingredients. Alexei Barrionuevo NYTimes June 2007. 6. China’s Factory Towns. Nicholas Kristof, NYTimes May 2007. 7. Big, Gritty Chongqing, City of 12 Million, is China’s Model for Future. Howard French, NYTimes June 2007. 8. A Lesson That Thomas Could Teach, David Leonhardt, NYTimes June 2007. 9. Banks face stern test when credit cycle turns. Andrew Hurst Reuters June 2007. 10. Mapping the Global Market: 3rd Annual Report , Diana Farrell et al, McKinsey Global Institute, Jan. 2007.

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Class 16. Major Topic: The Developed World Power over the Developing World, a source of constant conflict: The .

In Class:

1. Watch (CH) Episode 3: Ch 7 Averting a Meltdown: 1994, Ch 8. The Global Village, Ch. 9 China and the Tigers, and Ch 10. The Japanese Paradox. 2. Discussion: The Washington Consensus, The Mexican bailout, Free Trade Zones, Deflation. 3. Special Research Topics 10: Economics as Theory versus Economics as Practice. Policies of International Financial Agencies “Joseph Stiglitz and Kenneth Rogoff discuss Globalization and its Discontents.” http://info.worldbank.org/etools/bSPAN/presentationView.asp?EID=145&PID=32 5

Home Work: 1. Read: “The Asian Crisis” by Joseph Stiglitz CH Persons. 2. Read: Prestowitz, Ch. 3. 2. Written Homework Assignment 13. Examine John Williamson’s World bank presentation: “What should the World Bank think about the Washington Consensus?” www.worldbank.org/research/journals/wbro/obsaug00/pdf/(6)Williamson.pdf , also referenced at the end of the Williamson BSPAN presentation, and explain the elements of the Washington consensus and how they have change in their meaning and policy making importance since Williamson coined the term. ______

Class 17. Major Topic: Contagion and Capital Market Liberalization

In Class:

1. Watch (CH) Episode 3: Ch. 11 Global Contagion Begins, Ch 12. Contagion Engulfs Asia, Ch. 13. Russia Defaults, and Ch. 14 The Crisis Reaches America. 2. Discussion: Contagion, Fixed versus variable exchange rates, Devaluation.

Home Work:

1.Read: CH Persons, Stanley Fisher “ Examining the Causes of the Asian ”, The IMF and the Asian Crisis”, “Lessons Learned from the Asian Crisis” . 2.Read: CH Persons, Lee Hsisen Loong “Opening up trade Consensus and Crisis. 3.Read: CH Text, Chapter 12.

______Class 18. Major Topic: Time to Reexamine the Validity of the Washington Consensus and Rubinomics. Secondary Topic: Trade Imbalances as a threat to both developed and developing nations’ economies and political stability.

In Class

1. Watch (CH) Episode 3: Ch. 15. The Global Debate, Ch. 16. The Battle Joined, Ch 17. Failure at the Summit, Ch. 18 The Global Divide and Ch. 19 Capitalism Redefined. 2. Discussion: Management of International Financial Institutions, Politics of Trade, Unfair Trade Practices, Tools of Capitalism

Home Work: 1. Written Home Work Assignment 14: Read the article by Louis Uchitelle from the New York Times Nov 26, 2006: “Here Come the Economic Populists,” where the term Rubinomics is described. Write a short essay describing the term and examining its relevance for today. What does it have to do with the Washington Consensus and Stiglitz’s view of globalization?

Readings: CH Online text: Ch. 14 The Balance of Confidence: The New Rules of the Game. Henry C.K. Liu “America’s selective strong dollar policy” http://www.atimes.com August 14, 2003. Joseph Stiglitz “How Have the Economics of Keynes and Friedman Fared Over the Years?” CH Persons. Not Everyone is in the Red on Trade with China, Floyd Norris, June NYTimes 2007. William Poole: Changing World Demographics and Trade Imbalances. Economist’s View April 2007. ______

Class 19 The Past is Past, You must carry us into the future!

In Class

1. Watch (CH) Episode 3: Ch. 20. The Bottom End of Globalism, Ch. 21. Changing of the Guard, Ch 22 The Battle Resumed and Ch. 23. After 9/11. 2. Discussion: Where are who are at the bottom end of Globalism and what appears to be the result? What about the traditional middle class of developed countries?

Homework:

1. Read CH Ideas, Essays “The Balance of Confidence. 2. Prepare for Presentations of Research Reports.

______Class 20 Major Topic: The World is Flat!

In Class

1. Watch Thomas Friedman: Video presentation before the World Bank, April 2005. http://info.worldbank.org/etools/bSPAN/PresentationView.asp?PID=1466&EID =732

2.Discussion 3. FYI Where is Liberal Capitalism Leading Us? Read the 6 part series by Henry C.K. Liu “The Coming Trade War and Global Depression” for one informed opinion. http://www.atimes.com/atimes/Global_Economy/GH20Dj01.html

Homework:

1. Written Home Work Assignment 15: Write a short essay examining Friedman’s thesis against what you current know and what you feel will be your professional future. 2. Read: Joseph Stiglitz “Reforming the Rule Makers and the Need for Transparency.” CH Persons. 3. Read: Remainder of Perstowitz.

Class 21. Major Topic: The Dollar as Reserve Currency of the World: Can it survive, can the US survive it?

In Class

1. Watch: The World Turned Upside Down: The Impact of the Return of India and China to their Historical Global Weight. Clyde Prestowitz at MIT. http://mitworld.mit.edu/play/356/ 2. Discussion: World Monetary Policy, the fall of the American Dollar.

Homework:

1. Read: What businesses need to know about the US current-account deficit. Diana Farrell and Susan Lund, McKinsey Quarterly, No. 3, 2007. 2. Sovereign Investment Policy: A Fear of Foreign Investments. Steven R. Weisman, NYTimes, Aug 2007.

3. Written Home Work Assignment 16: Write a short essay examining Prestowitz’s advances over Friedman’s basic theses in light of Farrell and Lund’s work..

Class 22 to end: Student Presentations will complete the course.

Appendix: Topics suitable for Final Research Document. a. Globalization and Poverty or Income Disparity: Enhanced or diminished b. Globalization and Labor Practices: Child Labor Increased or Reduced c. Globalization Women: Harmed or Helped d. Democracy at Bay: Is democracy or freedom or liberty a human rights absolute? e. Does the Globalist’s view of the nation-state culture imperil or enrich culture? Does Globalization imperil or enrich culture? f. Does the Globalist’s view of Globalization threaten the wages and labor standards of developed countries? g. What will Globalization do for the environment? h. Is the western based corporate organizational structure predatory or beneficial to human kind? i. Capital market liberalization, is this just another form of trade that should be free? j. What is the record of globalization for legal and illegal international flows of humanity, beneficial or harmful? k. Is the international transmission of disease exacerbated with the Globalist’s view of Globalization?

Appendix 1: Planning Schedule for the Major Final Paper and Presentation

Globalization Fall 2007

Sept 17: Provide a list of 4 alternative topics either from the syllabus or from the World Bank B-SPAN topics list and provide an argument why you might write in each of the 4 areas.

Sept 24: Choose the topic you will prepare for the final report and presentation.

Oct 15: Complete and submit a draft outline containing the headings and subheadings you propose to use to guide the completion of your final report and presentation. Make sure that the real world problem you are studying in clearly specified.

Oct 29: Submit a list of information sources that you will use to complete the final report and presentation.

Nov 19: MS Power Point Presentation draft slide set due for submission to professor.

Dec 3: MS Power Point Presentations begin.

Dec 12: Final MS Word report submitted to professor.

Appendix 2: Planning Schedule for the “Your Country” report.

HSS Globalization Fall 2007

Sept 12: Prepare a short proposal indicating the problem that interests you about “Your Country”, and the topic or topics you will discuss that relate to, support your conclusions or would help solve the problem.

Oct 22: Submit a clean first draft of your report to the professor.

Nov 19: Final MS Word report submitted to professor.

Appendix 3: Academic Calendar Fall 2007

September 1 Saturday Classes Meet September 2 Sunday Classes Meet September 3 Labor Day-No Classes Scheduled

September 4 First Day of Classes September 10 Last Day to Add a Course September 17 Last Day for a Refund based on a Partial Withdrawal Deadline for Applying for January Graduation (No October 15 Ceremony) Last Day for a Refund based upon a complete withdrawal November 5 Last Day to Withdraw from course(s) November 12 Spring Registration begins November 15 Deadline for Applying for May Commencement Ceremony November 20 Classes Follow a Thursday Schedule November 21 Classes Follow a Friday Schedule November 22-25 Thanksgiving Recess-No Classes Scheduled

December 12 Last Day of Classes December 13 Reading Day December 14-20 Final Exam Period December 21 Fall Grades Due in Registrar's Office