ECN 3650 - Contemporary Economic Systems

Institution:

Babson College

Subject:

Description:

4.00 credits ECN3650 Contemporary Economic Systems (Advanced Liberal Arts Elective) Economists marvel at the incredible growth record of entrepreneurial capitalism. This course identifies the basic institutions of free-market economies, such as (1) private property rights and the trading of those rights, (2) human rights and limitations on contracting imposed by a rule of law that recognizes individual autonomy (3) the role of the price system in facilitating entrepreneurial venturing and rivalrous competition. Different places in the world have embraced these institutions in different ways and at different times. We understand the importance of these institutions when we examine regions of the world where these institutions are outlawed or severely impaired. The historical record of the 20th century, offers us many examples and "case studies" of how living standards can be changed by miserable economic ideologies. A major focus of this course is central planning communism and the ideologies it spawned in Russia and China. The transition processes now underway are discussed in great detail. Prerequisite: ECN1000 or IME2311 This course is typically offered in the following semester: Spring

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.babson.edu

Phone Number:

(781) 235-1200

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Semester

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