Schedule

15.012 Applied Macro and International Economics (Sections c and d) L. Thurow

#

Date

Day

Topic

I. THE BASIC TOOLS OF ECONOMIC MANAGEMENT

1

Feb. 7

We

HBR Article (#96108): "A Country is not a Company" HBS Case (Moss): Compilation: The German Hyperinflation Article: "The Hyperinflation in Serbia" Optional: HBS Note (#9797094): Not on Money and Monetary Policy DF&S: Chps. 15-16 & 19

2

Feb. 9

Fr

HBS Case (#9391258): The Great Depression: Causes and Impact (Abridged) HBS Note (#9382065): A Keynesian Cure for the Depression Optional: HBS Note (#9797076): Fiscal Policy: Managing Agg. Demand DF&S: Chps. 5, 1, & 18

3

Feb. 12

Mo

HBR Case (#381173): The Reagan Plan HBS Note (#N9 798-095): Reagan Plan Update Article: "Supply Side Isn't Voodoo Anymore" Article: "Should Ukraine Cut Tax Rates to Raise Tax Revenue" Article: "Fitting the Theory to the Facts: Robert Barro's Equivalence Theorem" Optional: DF&S: Chp. 2 K&O: Chp. 12

II. DEVELOPMENT STRATEGIES

4

Feb. 14

We

HBS Case (#9793096): Singapore HBS Note (#9794051): Accounting for Productivity Growth Article: "Singapore Swing: Krugman Was Right..." Optional: Article: "Where Economics Stops Short" DF&S: Chps. 3 & 4

5

Feb. 16

Fr

HBS Case (#9792089): Reconstruction of Zambia Article: "A Raw Deal for Commodities" Article: "The Gold Bug Variations" Optional: Article: "Venezuela on a Gusher" HBS Note (#383073): Kennedy and the Balance of Payments K&): Chps. 18 & 22

6

Feb. 20

Tu

HBS Case (#9798092): Chile: The Latin American Tiger? HBS Note (#9384171): Note on Exchange Rate Determination Article: "Business in Difficult Places" Optional: HBS Case (#9799011): Social Security Reform Article: "Social Security Reform Rocks the World" DF&S: Chp. 20 K&O: Chps. 10 & 19

III. THE TRANSITION FROM COMMUNISM TO CAPITALISM

7

Feb. 21

We

HBS Case (#9795089): Russia -- 1994 HBS Note (#9799091): Bribery and Corruption Article: "Worthless Rubles Have Their Uses..." Optional: Article: "The Cash Won't Work"

8

Feb. 23

Fr

HBS Case (#9798066): China: Facing the 21st Century HBS Note (#9797080): Transition to a Market Economy: The Components... Article: "China's State-Owned Enterprises" Optional: Article: "Through a Glass, Darkly" Article: "China: Ready for the Fourth Generation" Article: "A Capital Idea? Reconsidering a Financial Quick Fix"

9

Feb. 26

Mo

FIRST ASSIGNMENT DUE

IV. EMERGING MARKET CRISES OF THE 1990's

9

Feb. 26

Mo

HBS Case (#9296056): The 1994-95 Mexican Peso Crisis Article: "Revolution Ends: Change Begins" Article: "Pride Before the Fall" Optional: HBS Case (#9796123): World to Mexico - Get a Grip DF&S: Chp. 21 K&O: Chp. 17

10

Feb. 28

We

Chapter: "Understanding Asia's Crisis" Article: "Fix or Float" Article: "The ABC's of a Currency Board" Article: "No More Peso" Optional: Chapter: "How Economists Understand Crises" K&O: Chp. 21

11

Mar. 2

Fr

HBS Case (#9799088): Currency Crises Article: "Brazil's Tough Banking Rules Eased the Real Crisis" Optional: DF&S: Chp. 12 K&O: Chp. 16

V. CHALLENGES FACING DEVELOPED COUNTRIES IN THE 1990's

12

Mar. 5

Mo

HBS Case (#9799131): European Monetary Union Article: "The Euro's First Test" Article: "Birds of a Feather" Article: "Intervention: Divine or Comic?" Optional: Article: "Level-Headed" Article: "Who's Afraid of the Euro" K&O: Chp. 20

13

Mar. 7

We

HBS Case (#9795064): Unemployment in France: "Priority Number One" Article: "Busted for Working Hard" Article: "Working Man's Burden" Article: "How Shocking" Optional: Article: "A Civil Self-Service" DF&S: Chps. 6 & 7

14

Mar. 9

Fr

HBS Case (#9798083): Japan: Free, Fair, and Global? Article: "What's Your Problem?" Article: "Japan Restructures, Grudgingly" Optional: Article: "Bank of Japan Lifts Rates"

15

Mar. 12

Mo

SECOND ASSIGNMENT DUE

15

Mar. 12

Mo

Article: "Out of Sight, Out of Mind" Article: "Untangling E-economics" Article: "Bubble.com" Chapter: "Is America's Trade Deficit Sustainable?" Optional: Article: "Banks in Trouble" Chapter: "Causes of the US Trade and Current Account Deficit"

16

Mar. 14

We

Article: "Globalization: Valid Concerns?" Article: "Enemies of the WTO: Bogus Arguments Against the WTO" HBS Note: "The Economic Gains from Trade: Theories of Strategic Trade" Article: East Asian Regionalism" Optional: Article: "Politics of Scale" HBS Note: Economic Gains From Trade: Comparative Advantages K&O: Chp. 11 & 12

VI. REVIEW AND EXAM

17

Mar. 16

Fr

Review Session

18

Mar. 19

Mo

Final Exam - In Class

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