High Intermediate

Prior to enrolling in courses at this language level, students must have completed or tested out of a minimum of three semesters (or five quarters) of college-level Spanish at their home university in the U.S.

Advanced

Prior to enrolling in courses at this language level, students must have completed or tested out of a minimum of four semesters (or six quarters) of college-level Spanish at their home university in the U.S.

This course provides basic information on the economic processes of Argentina, beginning with the agricultural exports model. The role of the generation the '80s. The adjustments of the model. The national banking system and monetary
inconvertibility. The First World War and the Argentine economy. The process of imports substitution. The world crisis of the '30s and its economic-financial consequences in Argentina. The Concordance and its project. The Second World War and the Argentine economy. The Peronist government and the role of the state. The new crisis. The "desarrollista" (develoment oriented) model and the local and international contexts. Economic characteristics during the military governments and the second Peronist administration. The role of the international credit agenices in the '60s and '70s. The national reconstruction process and its economic project. Austral and Primavera plans. The convertibility plan. Current situation and prospects for the 21st century.

Contents.

1. Fundamentals of development economics. Capital accumulation and growth. Structural transformation. Virtuous cycle of development. Diversity of capital Social capital.

2. The growth of the Argentine economy 1870-1914. Sources of economic growth. Changes in the factor of production. Land. Labor supply. Capital accumulation. Global integration and growth. International flow of goods and services and factors of production.

3. The early interwar period. The downturn in the terms of trade. Changes in the international scenario. Causes of the decrease in the rate of capital accumulation. Political changes in Argentina. The Great Depression.

4. Argentina from 1930 to 1946.Changes in economic policy from an open economy to an import substitution industrialized economy. Decline of liberalism and raise of nationalism. Political changes in 1930. Birth of economics institutions in the 30´s. Central Bank . Juntas or Boards of different commodities. Exchange controls. Evaluation of the shift from an outward orientation to an inward orientation.

5. Argentina from 1946 to 1955. The peronist decade. Different approaches to economic policy: 1946-1952 , 1952-1955. Government intervention in the economy. The use of foreign reserves. Increase of government expenditures. Income transfer policies. Patterns of economic growth. Success and failure of peronist economic policy.

6. Argentina from Peron to the 80's.Lack of a sustained growth. Oil shocks and debt crisis. The external bottleneck in the Argentine economy. Supply shocks and inflation. Domestic fiscal and monetary policies. The anatomy of economic crisis. The failure of peronist government 1973-1976.The failure of military government 1976-1983. The road to hyperinflation. Economic and social costs of the Argentine development strategies. Stabilization programs. Reduction of the public sectore deficit. Elimination of price distortions . Financial sector reform. Currency reform.

7. Argentina in the 90's. Menem´s economic policy. Convertibility Plan. Fiscal policy. Privatization of public firms. The dependence of foreign capital flows. The impact of Mexican crisis. The impact of Brazilian devaluation. Economic performance and external shocks. Evaluation of structural reforms.

8. Argentine crisis and the role of IMF. Alternative explanations of the recent crisis. Menem´s debt. De la Rúa tax increases. Cavallo meddling with the peso. Duhalde´s destruction of property rights. Increase of external debt. Destruction of the financial system. Government finances. Federal-Provinces relations. Strategies for Argentine recovery. Alternative paths.