America and the New Global Economy

Overview

Discover how the world economy has changed in the last 50 years with this comprehensive course that explains the development of economies across major regions. In 36 engaging lectures by Professor Timothy Taylor from Macalester College, explore the roots and implications of globalization, as well as its future trends.

Course Details

This course delves into the interplay of various global economies and the impact of economic policies on today’s world. Key topics include:

• The historical roots of globalization since 1950.
• The evolution of the U.S. economy and its resurgences.
• The economic transformations in Europe, Asia, and the Middle East.
• The dynamics of emerging markets like China and India.
• The impact of international organizations like the World Bank and IMF.

Through the lens of globalization, you’ll gain a comprehensive understanding of current global economic issues and trends.

Video Lessons

1. The World Economy since 1950 (32 min)

• Roots of globalization traced to key developments from the 1950s.

1. The U.S. in the World Economy-1960 to 1995 (32 min)

• Analyze U.S. economic growth and recessions through the latter half of the 20th century.

1. The U.S. Economy Resurgent? (30 min)

• The impact of the tech boom on economic productivity in the late 1990s.

1. Europe-From Catch-Up to Jobless Growth (30 min)

• The recovery and growth of European economies post-World War II.

1. The Single European Market (30 min)

• Economic integration within Europe and its challenges.

1. The Rise of the Euro (30 min)

• Economic theories and implications of the Euro’s adoption.

1. The Economy of the Soviet Union (29 min)

• Examination of the Soviet model and its eventual collapse.

1. Transitions from Communism to Markets (31 min)

• The shift from centrally planned to market-oriented economies in Eastern Europe.

1. Japan’s Economic Miracle (31 min)

• Factors contributing to Japan’s growth from the 1960s to the 1980s.

1. When Japan’s Bubble Economy Burst (32 min)

• Understanding Japan’s prolonged economic stagnation.

1. Government versus Market in East Asia (32 min)

• The economic success of East Asia’s newly industrializing economies.

1. East Asia’s Tigers-Restore the Roar? (32 min)

• The crisis faced by the East Asian economies in 1997-1998 and its aftermath.

1. China’s Gradualist Economic Reforms (31 min)

• The path of economic reforms that positioned China for growth.

1. China’s Challenges for Continued Growth (32 min)

• Investigate the sustainability of China’s rapid economic development.

1. India and the License Raj (31 min)

• The historical context of India’s economic performance post-independence.

1. India’s Turn toward Market Economics (32 min)

• Reforms in the 1990s that opened India to global markets.

1. Inherited Institutions in the Middle East (33 min)

• The impact of historical economic policies on modern economies in the Middle East.

1. The Curse of Oil Wealth in the Middle East (29 min)

• Analysis of how oil wealth has not led to proportional prosperity.

1. Africa’s Geography and History (30 min)

• Exploration of the factors contributing to Africa’s economic challenges.

1. Time for Optimism on Africa? (33 min)

• Potential pathways to improving Africa’s economic landscape.

1. Latin America and Import Substitution (31 min)

• The region’s economic strategies and their implications.

1. Markets or Populism in Latin America? (32 min)

• Debates regarding market-oriented reforms and their effectiveness.

1. Globalization in Goods and Services (32 min)

• The evolution of global trade and its economic effects.

1. Globalization of Capital Flows (32 min)

• The benefits and risks associated with international capital markets.

1. The Foreign Exchange Market (30 min)

• Examination of different exchange rate policies and their impacts.

1. Migration-Senders and Recipients (31 min)

• Economic impacts of migration on sending and receiving countries.

1. Global Population Growth (31 min)

• The effects of demographic trends on global development.

1. World Poverty-Growth or Redistribution? (31 min)

• Strategies for addressing global poverty and inequality.

1. Global Food Markets-The Supply-Demand Race (30 min)

• Analyze the dynamics influencing global food security and hunger.

1. An Urbanizing World (31 min)

• The relationship between economic growth and urbanization trends.

1. Women in the Global Economy (30 min)

• The economic implications of gender equality and empowerment.

1. Improving Governance, Fighting Corruption (31 min)

• The role of governance in economic development.

1. Foreign Aid-Promises and Limits (31 min)

• Effectiveness of foreign aid in promoting economic growth.

1. The Multilaterals-World Bank, IMF, WTO (31 min)

• The missions and impacts of these international economic institutions.

1. The Economics of Global Climate Change (32 min)

• Understanding the economic aspects of climate change.

1. Globalization and Convergence (33 min)

• America’s influence on globalization and potential future scenarios.