Korean Economy in a Globalized World
Seoul, South Korea
Area of Study
Asian Studies, International Economics, International Studies
Taught In English
Prior familiarity with principles of economics is desirable, but not mandatory since this course will proceed with frequent reviews of basic economics whenever warranted.
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
This course is divided into three parts: an analytical review of the Korean economy over the last four and a half decades, comprehension on the structure and trends of the current Korean economy, and the current challenges and issues.
The first part will analyze the trend, cause, and result of the Korea?s economic and social development over the past four and a half decades. The coverage will include such key elements as: the long-term economic and social development strategy: its key policy tools and the achievement; the Heavy and Chemical Industry Drive; the Saemaul (New Community) Movement; Korea?s globalization initiatives; the 1997 financial crisis and the subsequent structural reform; the current global economic crisis and Korea?s responses; and finally Korea?s new strategies and new growth model
The second part will cover basic macro-economics in relation to the current Korean economy: inter-relationship and trends of such macroeconomic components as GDP, consumption, investment, export and import, balance of payments, money, and inflation. Next, the analysis of the major elements that determine the variances of these components will follow. To be followed will include analysis and understanding of such elements as Korea?s corporate governance, income distribution, industrial competitiveness, the globalization and its impact, and the vision and preparedness of the Korean economy for the coming 2 decades.
The third part will be group projects on such current leading issues as, challenges of the new Park government?s economic strategies and policies, aging population and its implication toward growth and viability of the Korean economy. .
Courses and course hours of instruction are subject to change.
Eligibility for courses may be subject to a placement exam and/or pre-requisites.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.
Please reference fall and spring course lists as not all courses are taught during both semesters.
Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations