(PEAL 370) Economic History of Argentina Profesora Licenciada Marta Caruso Program of Argentine and Latin American Studies Universidad de Belgrano Course Syllabus 2018

Course Information Tues., Thurs. 13.00-14:30 (C9) Instruction in: Spanish

Contact Information [email protected] Course Description

The course will provide basic information about the economic processes seen in Argentina from the generation of 80 to the 21st century: The agricultural exporter model, the adjustments that this model suffers over time and the national system of banks and monetary inconvertability are the subject of analysis; the influence of the two world wars on the Argentine economy leads to a process of import substitution; the Global Crisis of the 1930s and its economic- financial consequences; the role of the state and the redistribution of income, "the Entrepreneurial State" during ; the development model; the role of international credit organizations in the decades of the 1960s and 70s and economic characteristics during military governments and in the so-called "national reconstruction process"; political opening and changes in the economy: Austral Plan, Spring and Convertibility. For each period, we will analyze the economic policies in question until the so-called Crisis of 2001. We will address new economic measures to clean up capital flight and the effectiveness of the convertibility model, including macro- and micro-economic effects, as well as the behavior of international markets.

Course Requirements Students must meet the requirement of 75% attendance in order to maintain good standing. The attendance control system is electronic and the student must swipe his/her card during the class’s regular schedule. Students are expected to consult a digital library article (EBSCO) to enrich their written work. It is forbidden to use Wikipedia and on-line translators without content analysis. It is university policy to suspend for two years any student who commits plagiarism. This decision will affect not only the class in which the plagiarism was committed, but all of the student’s courses for the semester in question.

Grading Policy

Participation 10 % Thematic report and 30 % assignments Presentation of final work 30 % week 14 (Replaces final oral exam) Midterm exam 3 0 %

For a better understanding of the system of grade equivalency and transfer to the European or North American systems, consult the comparative table in the orientation kit (page 9).

Required Textbooks Marta Caruso. Cuadernillo de temas para trabajos prácticos. (Assignment notebook with topics.) UB Aldo Ferrer. La Economía Argentina. : Fondo, 1969.

Academic Calendar

Week 1: Tues., 6 March Presentation of the subject matter, of the class’s methodology, of the class’s academic guidelines, of the specific and optional bibliography, of the final grade calculation.

Thurs., 7 March: 13.00-14.30 ASSIGNMENT Distribution of oral assignments, presentation of the obligatory bibliography, which will be used in the assignments.

Week 2: Unit 1 Tues., 13 March 13:00-14:30 Theory Introduction to the Argentine economy: the economy of the viceroyalty: leather, jerky and wool. 1776-1880. The agricultural export model: Production, trade, and finance until the 1890 crisis. The role of Britain and the United States: meat-cereals and railways. The 1890 crisis and its economic and financial consequences.

Thurs., 15 March, Assignment: 13.00 - 14,30 Participatory and evaluative class Oral presentation of the individual assignment.

Week 3: Unit 1; Tues., 20 March, 13:00-14.30 Theory: The First World War: changes in the structure of international trade. Advantages and disadvantages for the country.

Thurs., 22 March, Presentation of assignment, participatory and evaluative class

Week 4: Unit 2 Tues., 27, March 13:00-14:30 Theory The 30's crisis and countercyclical policies. State interventionism. The ISI / Import substitution: industrialization in Argentina. New commercial order. Central bank tax policy. Relations with financial markets.

Thurs., 29 March Holiday

Week 5: Unit 3 Tues., 3 Abril 13:00-14:30. Theory The Second World War and the Argentine economy. Juan D. Perón and the new behavior of macroeconomic variables. The entrepreneurial state: The nationalization of services and the concept of income redistribution.

Thurs., 5 Abril 13:00 a 14:30 Assignment, participatory and evaluative class *Reading and understanding of specific bibliography. Individual assignment.

Week 6: Unit 4 Tues., 10 Abril 13:00-14:30. Theory Argentina's economy and the cycle of adjustment, economic models and political determinism. The military process and the economy of Martínez de Hoz: Agrarian financial policy, the new role of the state in the economy. Competitive advantages. The new concept of enterprise and industry. The development sectors.

Thurs., 12 Abril 13:00 a 14:30 Assignment, participatory and evaluative class

*Group assignment. Visual presentation on the part of the students, with grading.

Week 7: Unit 4 Tues., 17 Abril 13:00-14:30. Theory. Continuation of presentations

Unit 4 Thurs., 19, Assignments 13:00 a 14:30, Assignment, participatory and evaluative class * Reading and understanding of specific bibliography. Individual assignment.

Week 8: Unit 5 Tues., 24 Abril 13:00-14:30 Theory The return to democracy with Raúl Alfonsín: Changes in the role of the State. Anti-inflationary policies: Plan Austral and Plan Primavera. Hyperinflation, financial market coup and the lost decade of the 80s.

Thurs., 26 Abril. MIDTERM EXAM

Week 9:

Tues., 1 May HOLIDAY

Thurs., 3 May: 13,00 a 14.30 Assignment, participatory and evaluative class. Individual assignment.

Week 10: Unit 5 Tues., 8 May -13:00-14:30 Theory The decade of Menem: The liberal economic policies and globalization of the 90s and its consequences for industry. The Washington consensus and its state adjustment policies.

Thurs., 10 May: 13:00 a 14.30 Assignment participatory and evaluative class. Individual assignment.

Week 11: Unit 5 Tues., 17 May 13:00-14:30 Theory Privatizations and the law of convertibility: 1 peso = 1 dollar. The new system of international relations and the new orientation of the markets. Banking and financial behavior.

Thurs., 17 May 13.00 a 14:30 Specific Bibliography of the Ministry of Economy *Individual assignment. Class debate.

Week 12: Unit 6 Tues., 22 May 13:00-14:30 Theory Imbalances in the system. Political change: The Alianza and the end of convertibility, the crisis of 2001: Macro and microeconomic effects.

Thurs., 24 May 13,00 a 14:30- *Discussion and analysis of specific bibliography. Various papers.

Week 13: Unit 6 Tues., 29 May The 2001 crisis: Behavior of the internal and external financial sector. The case of Argentine government bond holders. The corralito and the corralón. The new financial banking and monetary order and in the market.

Thurs., 31 May: Final presentations and assignments due.

Week 14: Unit 6 Tues., 5 June 13:00-14.30 The economic recovery

2004-2009. Anti-inflationary measures. Anti-inflationary policies and internal and external debt. Agricultural retentions and the debt cancellation with the IMF.

Thurs., 7 June 13:00 - 14:30: Final due date for term papers and return of the same.

Week 15: 12 to 14 June: Examen final.

IMPORTANTE: " Students with a tourist visa will not be able to sit for the final exam; they must regularize their immigration status on the 17th floor before taking the exam " "By order of the National Directorate of Migration (DNM) all foreign students wishing to study in Argentina should change their immigration status from "tourist" to "student". DNM 20699/2006, DNM 54618/2008 and decree DNM 231/2009.

Required bibliography Class notes: Prof. Marta Caruso

Ferrer, Aldo. La economía argentina. Buenos Aires: Fondo, 2008.

Additional bibliography Di Tella y Zymelman. Los ciclos económicos argentinos. Buenos Aires: Paidos. . Ortiz, Ricardo. Historia Económica Argentina. Buenos Aires: Eudeba.

Rapaport et al. Historia económica política y social de la Argentina (1880-2003). Buenos Aires: Emecé.

Collection of articles by various national and international authors on previously analyzed themes.

Optional bibliography:

• FERRER, Aldo. La economía argentina. Desde sus orígenes hasta principios del siglo XXI. Bs. As., F.C.E., 2004 • NEFFA, Julio. Modos de regulación y regímenes de acumulación y sus crisis en Argentina (1880-1996). Bs. As., Eudeba, 1998 • RAPOPORT, Mario. Historia económica, política y social de la Argentina (1880-2000). Bs.As., Ed. Macchi, 2000 • ROMERO, Luis A. Sociedad democrática y política democrática en la Argentina del siglo XX, Bs. As. Ed. UNQ, 2004 • BULMER-THOMAS, Víctor. La historia económica desde la Independencia. México, FCE, 1998 • LEWIS, Paul. Las crisis del capitalismo argentino. Bs. As, FCE, 1990 • GELMAN, Jorge (compilador) La historia económica argentina en la encrucijada. Balances y perspectivas. Bs.As., Asociación Argentina de Historia Económica / Prometeo, 2006 • CORTES CONDE, Roberto. La economía política de la Argentina en el siglo XX. Bs. As., Edhasa, 2005 • BASUALDO, Eduardo. Estudios de Historia económica argentina. Bs. As., Siglo XXI, 2010

Profesora Marta Caruso.