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   Course Title    Transition Economics
Lecturer    Dilyaram Sansyzbayeva
Institution    National State University in Kyrgyzsatn
Country    Kyrgyzsatn


Course Objectives:

The course aims at introducing and discussing theories and issues on world experiences in transition from planning to market economy. Students will be introduced with some research methods to analyze the transitional economies like Kazakhstan’s. They will study the governments’ economic stabilization and reforming policies of different post-communist countries and their economic effects. As a part, the students will be assigned to prepare a final essay focusing on problems pertaining to Kazakhstan’ economy demonstrating their ability to apply the gained knowledge in their own economic analysis.

 

Requirements:

Students are required:

  • to attend regularly and to participate actively in the course;
  • to make a presentation on the issues related to the course;
  • to prepare a final paper by the end of the course;
  • to take a mid-term and the final exams.

 

Grading:

In class activity, including a presentation - 25%; a final paper -35%; the mid-term exam-15% and the final exam-25%.

 

Course Outline:

Week 1

  1. The Course Introduction: Transition and Economics
  2. Understanding Transition:

The Initial Situation before Transition; Objectives and Constraints of Transition

Required: Gerard Roland, Transition and Economics: Politics, Markets, and Firms, The MIT Press, Cambridge, Massachusetts, London, England, 2000, Chapter 1

Week 2

Methods and Issues of Macroeconomic Stabilization:

  1. Gradualism and the Interim Status Quo Bias
  2. The Trade-offs between Big Bang and Gradualism

Require d: Gerard Roland, Chapter 2

Recommended: Economics of Transition, edited by Mark Knell, Edward Elgar Press, UK, US, 1996, pp. 25-49

Week 3

Mass Privatization Reforms:

  1. The Economics Costs of Mass Privatization Programs
  2. Methods of Mass Privatization

Required: G. Roland, Chapter 4

Week 4

Speed and Methods of Price Liberalization

  1. Efficient Supply and Rationing
  2. Inefficient Supply and Rationing

Required: G. Roland, Chapter 6

Week 5

Mid-term exam

Week 6

Comparing Policies of Privatization and Restructuring

  1. The Objectives of Privatization; The Constraints Facing Privatization Policies
  2. Evaluating Different Privatization Policies

Required: G. Roland, Chapter 10

Recommended: Economics of Transition, edited by Mark Knell, pp. 35-45

Week 7

Incentives within Government Bureaucracy

  1. Soft Budget Constraints under Centralized Government
  2. Partial Decentralization: Fiscal and Monetary Policy

Required: G. Roland, Chapter 11

Recommended: Economics of Transition, edited by Mark Knell, pp. 51-74

Week 8

The Soft Budget Constraint and Financial Transition

  1. Decentralized Banking; Rent Seeking by Bank
  2. Trade Arrears and Restructuring with Redeployment

Required: G. Roland, Chapter 12

Week 9

Lessons from Transition

  1. What Have We Learned about Transition
  2. What Has Economics Learned about Transition

Required: G. Roland, Chapter 13

Week 10

Final exam

Note: Additional materials will be submitted during the course a handouts.



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