Temple University 3 credits ECON
The course highlights how two economic models - market and government control - are combined and applied in different societies. Specifics are studied for the following cases: (1) the U.S., with traditionally lowest government involvement in economic activity; (2) West European countries, with both market and socialist oriented institutions; (3) the former Soviet Union and Central European countries, which rejected complete government control and are being transformed into market economies; and (4) China, where the government keeps control of big business and allows economic freedom for small business and agriculture. An important consideration is how various systems promote economic growth and withstand crises.
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