Course Detail Information

Prerequisite: Listed prerequisites and junior standing required. This course is open to Economics majors only and requires approval of the instructor to register.

New Core: Fulfills 3 credits in Area of Knowledge III.

Course Description: The course will trace the relationship of the development of the U.S. and Chinese economies from 1850 to the present. It will analyze the forces that led to the first opening up of trade between the two nations and the initial business relationships formed. It will also connect the political relationships of China and U.S. with these developments. The course will track the highs and lows of U.S. and Chinese economic and business relations through the late 19th and the 20th Centuries up until the present day. This exploration will include the role of capitalism and socialism in the world as they both developed and the forces that created the changes in both economic systems. Two contrasting models of economic development will be explored: the U.S.'s more business centered market economy (Corporate Capitalism) and the Chinese government's guided planned market system (Government Driven Social-Capitalism). Each of these will be analyzed for their strengths and weaknesses, and they will be related to the two different political systems of individual-oriented democracy and socially-based autocracy. This course aims to help both American and international students to understand Chinese economy in the era of globalization and the interaction between China and the rest of the world. The major theme focuses on the process of China's reform and open door policy, how China interacts with the outside world in trade, finance, investment, energy, reform of international economic institutions and so on, and the implications of Chinese economic reform on the global economy. The course will conclude with a discussion of the future of the two economic systems and their approach to economic development, the possible different paths that could be taken in U.S.-Chinese international relations and their relative future positions in the world economy by 2030.