The American Economy
Instructor: Ivan Van de Cloot
Offered: First semester
Course description:
After World War II, the gap between rich and poor in Western societies seemed to narrow. Thanks to unprecedented economic growth in the 1950’s and 60’s, welfare states began to establish themselves in Europe and, in the United States, the policies begun in the 1930’s under Roosevelt’s New Deal flourished. It was an era of unprecedented prosperity for an unprecedented number of people. However, this post-war optimism eventually gave way to new economic preoccupations and challenges. Government spending decreased, the dollar weakened, and the American trade deficit ballooned. Today, the United States finds itself at a critical juncture economically. The predominance of the US economy and the ideological model upon which it is based has increasingly been called into question. The financial crisis of 2007-2010 and the ‘great recession’ of the late 2000s have intensified the need to consider new economic models and reforms. What would such alternative models and reforms look like? What strategic choices will the federal government need to make in order to secure Americans’ standard of living, manage the deficit, and maintain popular public services such as Social
Security and Medicare? What is the future of the United States’ economic standing in the world economy?
This course explores these questions by analyzing the internal and external dynamics of the American market economy in the post-World War II era. We will address core aspects of the contemporary American economy, both in theoretical and empirical terms, using the American financial and economic media (The Wall Street Journal, Forbes and others) as an important teaching tool. Five major topics will be discussed in class: (i) the origins of American economic growth, (ii) the principles of fairness and redistribution in the US, (iii) American social issues, (iv) the US financial system and the financial crisis, and (v) the foreign economic policy of the US. An ongoing discussion on the ideological divide between left-wing economists
and their conservative or right-wing counterparts will undergird many of the class discussions.
Teaching method: Lectures focused on theory, class discussion guided by readings.
Evaluation: An open-book final exam, either written or oral. (80% of the final mark)
You will be asked to write a short paper (op-ed/speech/policy analysis) on one of the subjects studied in class. (20% of the final mark)
Course materials: A course reader (Powerpoints) will be provided for students. Reading materials mainly on the Internet.
Offered: First semester
Course description:
After World War II, the gap between rich and poor in Western societies seemed to narrow. Thanks to unprecedented economic growth in the 1950’s and 60’s, welfare states began to establish themselves in Europe and, in the United States, the policies begun in the 1930’s under Roosevelt’s New Deal flourished. It was an era of unprecedented prosperity for an unprecedented number of people. However, this post-war optimism eventually gave way to new economic preoccupations and challenges. Government spending decreased, the dollar weakened, and the American trade deficit ballooned. Today, the United States finds itself at a critical juncture economically. The predominance of the US economy and the ideological model upon which it is based has increasingly been called into question. The financial crisis of 2007-2010 and the ‘great recession’ of the late 2000s have intensified the need to consider new economic models and reforms. What would such alternative models and reforms look like? What strategic choices will the federal government need to make in order to secure Americans’ standard of living, manage the deficit, and maintain popular public services such as Social
Security and Medicare? What is the future of the United States’ economic standing in the world economy?
This course explores these questions by analyzing the internal and external dynamics of the American market economy in the post-World War II era. We will address core aspects of the contemporary American economy, both in theoretical and empirical terms, using the American financial and economic media (The Wall Street Journal, Forbes and others) as an important teaching tool. Five major topics will be discussed in class: (i) the origins of American economic growth, (ii) the principles of fairness and redistribution in the US, (iii) American social issues, (iv) the US financial system and the financial crisis, and (v) the foreign economic policy of the US. An ongoing discussion on the ideological divide between left-wing economists
and their conservative or right-wing counterparts will undergird many of the class discussions.
Teaching method: Lectures focused on theory, class discussion guided by readings.
Evaluation: An open-book final exam, either written or oral. (80% of the final mark)
You will be asked to write a short paper (op-ed/speech/policy analysis) on one of the subjects studied in class. (20% of the final mark)
Course materials: A course reader (Powerpoints) will be provided for students. Reading materials mainly on the Internet.
