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Economics of latin america & the caribbean economics 334, Fall 2013 (Section 18585) Instructor: Meeting Info

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Economics 334, Fall 2013

(Section 18585)
Instructor: Meeting Info:

Denise Stanley SGMH 2504

SGMH 3339 Ph: 657-278-7498 T, TH 10-11:15 AM


Office Hours: T,TH11:30-12:45 PM; W 12-1:15 PM and by appointment
Course Objective:

This course will provide an overview of various forces that have shaped economic development in Latin America. The characteristics of Latin America’s recent economic record are the take-off point for discussion. The course will place contemporary problems in their historical perspective and will use lectures, data analysis, videos and discussions to examine the opportunities and constraints facing the region’s economies. By the end of the semester, students should have a good grasp of the diversity of the economic experiences within Latin America, alternative development strategies that have been pursued and the major domestic and international economic issues facing Latin America in the 21st Century.

This course meets the General Education (G.E.) requirement in category III.C.2.-Implications, Explorations, and Participatory Experience in the Social Sciences. It includes the following goals for student learning: a. To understand broad, unifying themes in the Social Sciences from cross-disciplinary perspectives, b. To solve complex problems that require social scientific reasoning, c. To relate the social sciences to significant social problems or to other related disciplines. The course includes a significant writing component with evaluations offering opportunities for students to improve their writing.
Course Prerequisite:

Economics 201 or another introductory course in Economics. Economic models and some macroeconomic terms are used to organize the presentation of the various theoretical approaches. Thus, I have placed an “introductory macroeconomics” review sheet on the course website for those who have not had Econ 202. You can also review the external links on the class website.

Course Organization:

The course will generally follow the structure of the main textbook, Franko's The Puzzle of Latin American Economic Development. There will be four substantive areas following the context-setting we do in the first week. The first parts focus on historical and macroeconomic issues, while the second half looks more at reform strategies and microeconomic issues; however not every topic fits into the macro/micro breakdown. The main areas covered include:

Measurements and Theories of Economic Development in Latin America

Historical Legacies and Paths into Debt

Neoliberal Resurgence and Economic Integration

Contemporary Challenges of Social Sustainability and Growth

Required Texts (at the bookstore or available used):

Franko, Patrice. The Puzzle of Latin American Economic Development. Lanham, MD: Rowman and Littlefield Publishers, 2007.

Optional (on reserve or Google books): others to be added

Cardoso, E. and Helwege, A. Latin America’s Economy. Cambridge, MA: MIT Press, 1999.

Dietz, J. ed. Latin America’s Economic Development: Confronting Crisis. Boulder: Lynne Reiner Publishers, 1995.

Friedman, J. and Friedman, M. Modern Political Economy and Latin America. Boulder: Westview Press, 2000.

Thorp, R. Progress, Poverty and Exclusion. Washington, DC: IADB/John Hopkins Press, 1998.

Course Requirements:

You will be expected to keep up with the reading and participate actively in class discussions. My emphasis is on continuous assessment throughout the term to “spread the risk”. You will be responsible for 4 homework assignments (started in the class labs), 2 open-book quizzes, a (closed book) midterm and final examination, and a country writing assignment. The homeworks will help you find material related to the class material and your written assignments (see below). The open-book quizzes and closed-book exams will cover material from lectures and the book. Make-up exams are not permitted. The final exam (to be held on December 13) will be comprehensive. Regarding the written assignments, you will be responsible for a writing assignment due the last day of class. My comments on grammar, punctuation will be given on the homework/group discussion work and should be corrected in the writing exercise.

Do not have cell phones or laptops on in class, and do not expect to have open Internet access in the lab classroom. I regard class attendance and class participation as being essential to your success in this class, and you should as well. J To "convince" you of the importance of active participation, I will record attendance during the semester, and I will add 1% extra credit to your total final score if you signed all the attendance records- but two.
Web-Usage: The Titanium web-site complements the in-class experience by providing links to relevant information, Powerpoint slides, practice exams, and timely grade access. You should be automatically enrolled as you registered: go to and click on the Titanium tab. Then look for the Economics 334 website. This provides links to relevant lecture modules, homeworks, study guides, and timely grade access. Please note that the Titan Online distribution list allows me to contact you only through your campus email (so please check that often). I answer emails promptly, but usually not on weekends. The course textbook Appendix A also provides the URLs for various sources of data on Latin American economic issues. One of the most comprehensive sites on Latin America ( is also a useful site for research.

Course Grading:
The point distribution of these assignments is as follows:
4 homework assignments/labs @30 120 points

2 Quizzes @30 60 points

1 Midterms @ 100 100 points

1 analysis essay 100 points

Final Exam 120 points

500 points

Thus you can earn up to 500 total accumulated points. The final course grade distributions will very closely approximate a straight scale, so 450 points will be equivalent to an "A", 400 points equivalent to a "B", 350 points equivalent to a "C", and 300 points equivalent to a "D". I intend to assign +/- grades as warranted.

  • Academic dishonesty will not be tolerated. The University Catalog and the Class Schedule provide a detailed description of Academic Dishonesty under `University Regulations.’ I will enforce the university policies (UPS 300.021) as found in your California State University Catalogue: Please also see the link at

Plagiarism is defined as the act of taking the work (words, ideas, concepts, data, graphs, artistic creation) of another whether that work is paraphrased or copied in verbatim or near verbatim form and offering it as one’s own without giving credit to that source. When sources are used in a paper, acknowledgment of the original author or source must be made through appropriate citation/attribution and, if directly quoted, quotation marks or indentations must be used. Improper acknowledgment of sources in essays, papers, or presentations in prohibited.

In particular cheating on exams or plagiarism on written work will result in a lower letter grade for the work at hand and may result in an “F” for the course as well as additional disciplinary actions.

  • The University requires students with disabilities to register within the first week of classes with Disability Support Services (DSS), located in UH-101 and at (657) 278 – 3112 in order to receive prescribed accommodations and support services appropriate to their disability. Students with disabilities have the right to accommodations for documented special needs via the DSS Office:

  • All students should be aware of the required steps for campus emergencies:
Course Outline (approximate, some topics may be dropped): Week of:

I. Introduction: Contending Theories of Development in Latin America

Readings: Franko, Chp. 1 August 26

Optional: Dietz, Chps. 1, 3; Thorp, Chp. 2, Cardoso, Chp. 1

Measurements of Poverty and Inequality September 2

Readings: Franko, Chp. 11 (to page 402)

Optional: Dietz, Chp. 18; Friedman, Chps. 31-32;

II. Historical Trends and Development Models in Latin America
Agricultural and Natural Resource Exports and Development September 9, 16

Readings: Franko, Chp. 2

Optional: Friedman, Chp. 13; Cardoso, Chp.2; Thorpe, Chp. 3
Homework 1 due September 19, Quiz 1

Import Substitution Industrialization

Readings: Franko, Chp. 3; skim p. 236-240 September 23

Optional: Dietz, Chps.9-10; Thorp, Chps.4-5, Cardoso, Chp. 4 (to p. 99);

History of Agricultural Policy and Land Reform September 30

Readings: Franko, Chp. 10

Paper outline due September 30

Paths into and Responses to the Debt and Inflation Crisis

Readings: Franko, Chp. 4 October 7

Optional: Friedman, Chp. 21; Thorp, Chp. 6 & 7, Cardoso, Chp. 5 & 6

Homework 2 due October 10 MIDTERM TUESDAY OCTOBER 15
III. Neoliberal Programs and International Economic Integration
Stabilization Efforts

Readings: Franko, Chps. 5-6 October 17

Optional: Dietz, Chps. 15-17
The Role of the State October 21

Readings: Franko, Chp. 6 (skim Chp. 9)

Optional: Dietz, Chp. 20; Friedman, Chps. 2-3; Thorpe Chp. 8, Cardoso Chp. 7
Course Outline (approximate, some topics may be dropped): Week of:
Capital Flows October 28

Readings: Franko, Chp. 7 (skim Chp. 9)

Optional: Dietz, Chps. 13-14; Friedman, Chps. 23-24
Homework 3 due November 5
Trade Liberalization and Agreements November 4, 11

Readings: Franko, Chp. 8

Optional: Friedman, Chps. 18-20

IV. Contemporary Challenges of Social Sustainability and Growth
Labor and Infrastructure Policies November 18

Readings: Franko, Chp. 9

Quiz 2 November 21
FALL BREAK November 25-29

Review Poverty and Inequality measures and policies:

Readings: Franko, Chp. 11 after page 403 (skim Chps. 9, 13) December 2
Homework 4 due December 10
Review Lessons Learned and Latin America in the current crisis December 9

Readings: Franko, Chp. 14

Paper due December 12
FINAL Tuesday December 17 9:30 AM


  1. Define and analyze the common measures of economic achievement at the national and local level, including measures of economic growth, economic and human development, as well as indicators of poverty reduction, income distribution and employment.

  1. Outline the national policy measures and (private and public) programs which improve these statistical measures.

  1. Understand the different models of national economic policy employed in modern Latin American history to enhance economic achievement.

  1. Compare and contrast the ideas of the outward-orientation (liberal), institutionalist, structuralist/dependency, neoliberal, neostructuralist and neoinstitutionalist schools of thought.

  1. Identify the impacts of historical trends on Latin American economic growth and development, including the trends from colonialsm, post-Independence, the Great Depression, and modern financial crisises.

  1. Define and use common measures of international economic relations, including comparative advantage definitions, and terms-of-trade and balance of trade statistics. Understand the effects of flexible and fixed exchange rate movements, and trade liberalization, on national economic growth and development.

  1. Define and use terms associated with national economic growth multipliers, including backward and forward linkage measures, other forms of linkages, and retained value.

  1. Predict how contractionary or expansionary macroeconomic policy measures affect measures of economic growth and development.

  1. Outline the need for, and factors associated with, enhanced economic growth per se, including total factor productivity and property rights security.

  1. Outline the need for, factors associated with, enhanced agricultural productivity, including rural technologies and property rights redistribution.

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