About this course: In 1978, after nearly 30 years of socialist planning under Mao Zedong, China was one of the world’s poorest countries, saddled with an inefficient, inward-looking economy. Today, China is an upper-middle income country and the world’s largest trading nation, contributing more to global economic growth than any other nation. How could such a remarkable transformation take place? This course will examine in detail the reforms that have contributed to China’s economic development and the current challenges facing the Chinese economy. After completing this course, you will be able to: - describe the origin and consequences of China’s key economic reforms since 1978; - explain how features of China’s fiscal and financial systems have impacted development outcomes; - assess the extent to which China has integrated itself into the global economy and the consequences of such integration for China and other countries; - explain the importance of different sources of economic growth during different periods since 1978; and - critically assess the economic and policy challenges facing China going forward. This course does not offer certificate at the moment. Course Overview video: https://youtu.be/YBkhpvWUoIw
Who is this class for: This course is for anyone who is interested in deepening his/her understanding of the Chinese economy. There is no prerequisites. However some familiarity with basic economic principles is recommended, for example having taken an introductory economics course (microeconomics or macroeconomics).
Created by: The Hong Kong University of Science and Technology
Taught by: Albert Park, Director of the Institute for Emerging Market Studies, Chair Professor of Social Science and Professor of Economics
| Commitment | 6 weeks of study, 2-3 hours/week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
Orientation and Module 1: China’s Gradualist Reforms
In this module, we will introduce you to China's gradualist reforms. But before you start with the lectures, please watch the Course Overview, review the Assignment and Grading page, and introduce yourself to other learners who will be studying this course with you.
8 videos, 3 readings
- Video: Course Overview
- Reading: Assignments and Grading
- Discussion Prompt: Discussion: Meet and Greet
- Video: 1.1 China’s Gradualist Reforms – An Introduction
- Video: 1.2 Institutional Change – A Framework
- Video: 1.3 Reform Overview
- Video: 1.4 Decollectivization of Agriculture
- Video: 1.5 The Rise and Fall of Township and Village Enterprises (TVEs)
- Video: 1.6 The Problem of State-owned Enterprises
- Video: 1.7 China’s Gradualist Reforms – Module Summary
- Discussion Prompt: Module 1 Discussion
- Reading: Module 1 Course Reading
- Reading: Module 1 Lecture References
Graded: Quiz 1
WEEK 2
Module 2: Fiscal and Financial System Reform
In this module, we will focus on China's fiscal and financial system reform.
7 videos, 2 readings
- Video: 2.1 Fiscal and Financial System Reform – An Introduction
- Video: 2.2 Fiscal Decentralization: Pros and Cons
- Video: 2.3 Reforming the Fiscal System
- Video: 2.4 The Soft Budget Constraint
- Video: 2.5 Reforming the Financial System
- Video: 2.6 Shadow Banking: Threat or Opportunity?
- Video: 2.7 Fiscal and Financial System Reform – Module Summary
- Discussion Prompt: Module 2 Discussion
- Reading: Module 2 Course Reading
- Reading: Module 2 Lecture References
Graded: Quiz 2
WEEK 3
Module 3: Globalization: Trade and Foreign Direct Investment
In this module, we will focus on China's trade and foreign direct investment. Apart from regular lectures, we will visit firms in China to understand the impact of foreign direct investment on them. We will also have interviews and discussions with leading scholars to provide greater insight into what is happening in the areas of China's outbound foreign direct investment and the internationalization of the Renminbi.
10 videos, 2 readings
- Video: 3.1 Globalization: Trade and Foreign Direct Investment – An Introduction
- Video: 3.2 International Trade: Performance and Policies
- Video: 3.3 Trade and Development
- Video: 3.4 Foreign Direct Investment
- Video: 3.5 Foreign Direct Investment – Firm Visits in China
- Video: 3.6 China’s Outbound Foreign Direct Investment
- Video: 3.7 China’s Outbound FDI – An Expert Discussion
- Video: 3.8 Internationalization of the Renminbi
- Video: 3.9 Internationalization of the Renminbi – An Expert Discussion
- Video: 3.10 Globalization: Trade and FDI – Module Summary
- Discussion Prompt: Module 3 Discussion
- Reading: Module 3 Course Reading
- Reading: Module 3 Lecture References
Graded: Quiz 3
WEEK 4
Module 4: Economic Growth and Structural Change
In this module, we will focus on China's economic growth and structural change.
6 videos, 2 readings
- Video: 4.1 Economic Growth and Structural Change – An Introduction
- Video: 4.2 Sources of Growth
- Video: 4.3 Structural Change
- Video: 4.4 Resource Misallocation
- Video: 4.5 Productivity Growth
- Video: 4.6 Economic Growth and Structural Change – Module Summary
- Discussion Prompt: Module 4 Discussion
- Reading: Module 4 Course Reading
- Reading: Module 4 Lecture References
Graded: Quiz 4
WEEK 5
Module 5: Governance and Current Challenges
In this module, we will focus on China's governance and current challenges. Apart from regular lectures, we will visit firms in China to understand the impact of rising wages on them.
9 videos, 2 readings
- Video: 5.1 Governance and Current Challenges – An Introduction
- Video: 5.2 China’s Governance Puzzle
- Video: 5.3 Incentivizing Local Leaders
- Video: 5.4 Economic Challenges
- Video: 5.5 Rebalancing Growth
- Video: 5.6 Challenge of Rising Wages
- Video: 5.7 Challenge of Rising Wages – Firm Visits in China
- Video: 5.8 Governance and Current Challenges – Module Summary
- Video: 5.9 Economic Reform and Growth in China – Conclusion
- Discussion Prompt: Module 5 Discussion
- Reading: Module 5 Course Reading
- Reading: Module 5 Lecture References
Graded: Peer-reviewed Written Assignment 1
WEEK 6
Final Exam and Farewell
Now is time to test your understanding on the entire course. Take the final exam and complete the post-course survey. Your valuable feedback will certainly help us improve future iterations of the course.
1 practice quiz
- Practice Quiz: Post-course Survey
Graded: Final Exam
FAQs
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Pricing
| Audit | Purchase Course | |
|---|---|---|
| Access to course materials | Available | Available |
| Access to graded materials | Not available | Available |
| Receive a final grade | Not available | Available |
| Earn a shareable Course Certificate | Not available | Available |
Ratings and Reviews
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R
Good introduction of economic reforms in China since 1978 and their impact on Chinese economy. A must to understand the huge success of this nation, the current debate on China as an unfair competitor vs the US, the challenges ahead to escape the "middle income trap" and enter the high earning countries league.
A basic understanding of economy is not essential but helps in understanding the most technical concepts.