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Department of Economics

Economic development of the Asia Pacific region 1

Course Code:
15PECC030
Unit value:
0.4
Taught in:
Term 1

Term 1 - Regional Course

This course provides an economic overview of the Asia-Pacific region, which includes China, Japan, Korea and Taiwan and South East Asia. The debate over sources of growth in the regions is reviewed, and the role of trade and investment in regional economic integration. Attention is also given to formal moves towards economic integration in the Asia-Pacific region, and the implications of the emergence of regional growth poles. There is also an overview of macroeconomic reform and stabilisation processes in Japan, China and South East Asia, paying particular attention to the role of external shocks, and to the sequencing of macroeconomic reform measures both in the more advanced economies of North East Asia and in the economies of South East Asia, and China.

Objectives and learning outcomes of the course

On successful completion of the course, students will be able to:
1.       Clearly describe the major economies of the Asia Pacific region, demonstrating an understanding of the sources of growth in these countries.
2.       Analyse the debate over the sources of growth and the role of trade and investment in regional economic integration
3.       Outline the processes of macroeconomic reform and stabilisation in the main economies of the region.

Method of assessment

Assessment weighting: Exam 70% / coursework 30% (1 essay). All coursework is resubmittable.

Suggested reading

1. R. Nelson and H. Pack “The Asian Miracle and Modern Growth Theory” Economic Journal.  Vol 109 July 1999
2. Jesus Felipe “ Total Factor Productivity Growth in East Asia: A Critical Survey”, Journal of Development Studies, Vol 35 (4), April 1999
3. Joseph Stiglitz and Shahid Yusuf (editors) Rethinking the East Asian Miracle, New York, Oxford University press, 2001
4. Chris Bramall, Chinese Economic Development, London, Routledge, 2009.
5. Carl Mosk, Japanese Economic Development, London: Routledge, 2007.