Comparative Economic and Financial Systems

Despite the evolution of many world economies toward the market system and privatization, the major differences--formal, cultural, and informal--in the financial, legal, accounting, social and economic institutions, ownership, business practices, and economic policy-making in both the transitioning economies and the world's major economies pose major challenges for international business decision-making and cause major differences in economic performance, income distribution, growth, and efficiency of these economies. This course analyzes these components of an economy within a decision-making information-motivation framework. Examples will be drawn from a number of economies including U.S., E.U., Russia, Mexico, China, and Pakistan. Of particular interest are macroeconomic institutions, monetary and fiscal policy, relationships to the world economic organizations as well as the internal political and legal framework that influences privatization, market structures, competition and comparative internalization of social costs. Also examines the impact of systems and the political and social relationships in the behavior of economic institutions.

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