UNIVERSIDAD VERITAS
INTERNATIONAL PROGRAMS CENTER
ECON-3403 INTRODUCTION TO LATIN AMERICAN ECONOMICS
Instructor: Francisco Matamoros, BA, MS.
SYLLABUS
A. General Description
This course is intended for the first Latin American economics course at the undergraduate level. It focuses on all those questions students have when they take an international economics course emphasizing a specific region"questions about the world economy, development theory, economic policy, about the impact of geography, about why certain economic aspects are the same or different in countries, the effect of the different environments on international development, and many, many more. There are always new questions, and sometimes there are new answers to old questions.
This is a course designed to give the student the concepts and tools for the understanding of the basic concepts regarding the Latin American social and economic history and present situation. It defines the nature of Latin American development and the environments in which it is conducted, the continuing importance of international organizations and the international monetary system and how they affect the region. It explores the historical causes of underdevelopment and how governments are dealing with the diverse social and economic problems that Latin American countries face today.
B. Course Proposal And Objectives.
1. To define the field of world economics and emphasize the differences between regions and among national economies.
2. To define and discuss briefly basic terms relevant to world economics.
3. To discuss the specific aspects of the Latin American economy globally and by individual countries.
4. To emphasize the importance of history in understanding current Latin American economic phenomena.
5. To emphasize the importance of the social, cultural, political, and legal environments in understanding current Latin American economic situation.
6. To discuss Latin American economic data, historically, globally, by individual countries, etc.
7. To analyze the impact of economic integration in Latin America.
C. Contents.
I. Framework, Concepts, Perspectives.
a) Economics, Economy, Economic Theory.
b) The Scientific Method Of Economics.
c) Economic Policy And Practice.
d) The Economic Problem.
e) Economic Systems.
II. The Changing World Economy: Introduction And Early History.
1. Mercatilism And Commercial Expansion.
2. Competitive Capitalist Industrialisation.
3. Finance Capitalism And The New Imperialism.
4. Modern Times.
III. Abundance And Scarcity In Latin America.
a) The Economic Problem In Latin America.
b) Economic Potential Versus Economic Development.
IV. Physical And Environmental Forces In Latin America.
a) The Land.
b) Natural Resources
c) Climate And Vegetation
d) Geo Facts
e) The People.
V. Brief Economic History of Latin America.
a) Before Independence
b) First Half Of The XIX Century.
c) Second Half Of The XIX Century.
d) The XX Century.
e) Regional Integration.
f) Present-Day Latin America.
VI. Specific Latin American social and economic problems:
a) Import substitution and trade liberalization.
b) Debt
c) Inflation
d) Stabilization
e) Economic populism
f) Poverty
g) Agrarian Reform
VII. Political And Social Components In Latin American Life.
VIII. Costa Rica: A Case Study.
D. Methodology
1. Lectures on each topic, trying to generate class discussion.
2. Presentation by individual students of specific topics that he/she will do research on to enlarge his/her knowledge of it.
3. Each student will write a term paper on a specific topic of his/her choice.
4. It will be of extreme importance that the student read each new topic before the respective lecture and discussion so that active class participation can be accomplished.
5. Reading and discussion of articles and books other than the textbook will be recommended to the students and done in class whenever possible.
Time table
Week 1 Activities
• Outline of the course objectives, contents, activities, assessment, etc.
• Economics, Economy, Economic Theory.
• The scientific method of economics.
• Economic policy and practice.
Week 2 Activities
• The economic problem.
• Economic systems.
• The changing world economy: introduction and early history.
• Mercatilism and commercial expansion.
Week 3 Activities
• Competitive capitalist industrialisation.
• Finance capitalism and the new imperialism.
• Modern times.
Week 4 Activities
• The economic problem in Latin America.
• Economic potential versus economic development.
• The land.
• Midterm test.
Week 5 Activities
• Natural resources
• Climate and vegetation
• Geo facts
• Students’ presentations
Week 6 Activities
• The people.
• Brief economic history of Latin America.
• Before independence
• First half of the xix century.
• Students’ presentations
Week 7 • Activities
• Second half of the xix century.
• The xx century.
• Regional integration.
Week 8 Activities
• Poverty and inequality.
• Land reform.
• Students’ presentations
Week 9 Activities
• Social problems
• Students’ presentations
Week 10 • Activities
• Debt crises.
• Inflation
• Students’ presentations
Week 11 Activities
• Present-day Latin America.
• Political and social components in Latin American life.
• Students’ presentations
Week 12 Activities
• Final exam.
E. Materials:
Handout packet.
F. Assessment
Class participation (including attendance) 20%
First project (week 5) 10%
Second project (week 6) 10%
Third project (week 7) 10%
Fourth project (week 8) 10%
Fifth project (week 9) 10%
Final exam 30%
Total 100%
Class participation: Class participation. The student is expected to participate actively in class with comments, questions, answers to questions, group discussions, etc. Needless to say, presence in class is a fundamental prerequisite to get the full 20 points of class participation.
Projects: The student will choose any five of the topics from the attached list and do a detailed analysis by using additional bibliographical sources or direct investigation. The projects have to be presented both orally in class and in written form. Due dates are weeks 5. 6, 7, 8, and 9, respectively.
Final exam: The final exam will include the totality of class material, including newspaper and magazine articles, references to other books, students’ presentations, case applications, etc.
VI. BIBLIOGRAPHY
Textbooks.
Frederick Stirton Weaver. Latin America in the World Economy. Boulder, Colorado: Westview Press, 2000.
Hand out material.
Referece books.
Howard J. Wiarda and Harvey Kline. Latin American Politics and Development. Boulder, Colorado: Westview Press, 2001.
D. Reference books and sources.
INTERNET sources.
www.ibrc.bschool.ukans.edu/country/centA/centa.htm
www.globaledge.msu.edu/ibrd/ businessmain.asp/ResourceCategoryID=8
www.ecla.org/default.asp?idioma=IN
www.iadb.org. Follow “Research and Statistics” path.
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