Latin American Economics Econ 421 Spring 2009 Tuesdays and Thursdays, 9:30 – 10:45 am Room: Econ 1052 Prof.: Matías Fontenla E-mail:
[email protected] Office: Econ. 2003 Office Hrs: T Th, 11:00 am – 12:00 pm T.A.: Apsara Nepal E-mail:
[email protected] Office: Econ 2011 Office Hrs: M W 10:00 – 11:00 am Course Description This course explores Latin American economic development at the macroeconomic level. This 400-level course (senior/masters level) will begin with a crash course in Macro, and then move on to the historical context, and theories and issues that marked Latin America. These topics are fundamental for a better understanding of the current macroeconomic conditions, trends and challenges that Latin America faces today, which is the ultimate goal of this course. Pre-requisites: Economics 303 and 300, or permission of instructor. This prerequisite is waived for graduate students (i.e., you get automatic permission). Economics 423 is the companion course that covers microeconomic issues, such as labor markets, the agricultural sector, credit markets, environmental issues, schooling, health and fertility. Course Web Page http://vista.unm.edu Here you will be able to download class materials and check you grades. Readings
• The Puzzle of Latin American Economic Development (required), by Patrice Franko, •
Rowman and Littlefield, third edition, 2007, is our main textbook. It will give us a basic coverage of most of the material discussed in class. Development Economics (optional) , by Debraj Ray, Princeton University Press, 1998, is an excellent companion book on the theories of economic development.
There will also be assigned readings for each topic, which will be made available on our website.
In addition, newspapers like The New York Times, The Financial Times and magazines like The Economist are excellent resources full of articles related to economics in Latin America. Feel free to email me any such articles you think are particularly relevant, and we may discuss them in class. Course Requirements - Participation (20%). Notice that you can’t participate if you don’t come to class. - Exam (35 %). About April 14. - Presentation and Paper (45%). One-page proposal on any topic related to Latin American Economics, due Feb. 17th (fifth week of class). First draft due April 7th. Final draft (8-12 pages) due May 7th. Presentations will be on the last 2-3 weeks of class (no class May 5th). - Extra credit: If you run into something that is especially interesting to you and is related to this course, like a book, a program on PBS, YouTube, radio, etc., then you can write a report for 5% extra credit. First you need to send me a brief email defending your idea (what it is, where you found it, how it’s related to the class and why you think it’s cool). Once I accept it, then you write a 4-page minimum, Times New Roman 12-font, single-spaced, 1-inch margins report. Last day to hand it in is April 30th. For example, “One Hundred Years of Solitude”, by Gabriel García Marquez, is a fantastic novel that wonderfully describes much of Latin American economic history. You can write a brief paper on one of its many economic themes for extra credit. Tentative Topics and Reading List Readings will be put on the course’s website. 1. Crash Course in Macro and Development - Franko, Ch. 1 - Ray, Ch. 1 2. Historical Context and Legacies - Franko, Ch. 2 Groups project: - country reports 3. Poverty and Inequality - Franko, Ch. 11 - Sen, Amartya, “Development as Freedom”, Knopf, 1999 - Ray, Debraj, “Development Economics”, Princeton U. Press, 1998, Chs. 6 – 8 Hands on project: poverty alleviation in ______. 4. Populism and Import Substitution-Industrialization - Franko, Ch. 3 - Dornbusch, R. and S. Edwards, “The Macroeconomics of Populism in Latin America”, Ch.1 - Rodrik, D. “Getting Interventions Right: How South Korea and Taiwan Grew Rich” Economic Policy, (April 1995) 55-107.
5. Debt Crisis - Franko, Ch. 4 - Easterly, W., “The Elusive Quest for Growth”, MIT Press, 2001, Ch. 11. 6. Inflation - Franko, Ch. 5 7. Structural Adjustment, Privatization and the Role of Government. - Franko, Ch. 6 - Easterly, W., “The Elusive Quest for Growth”, MIT Press, 2001, Ch. 12. 8. The Financial System, Capital Flows, Banks and Banking Crises. - Franko, Ch. 7 9. Trade, Regional Integration, Globalization - Franko, Ch. 8.