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Organization, Regulations, and Courses 2020-21

ECON 70.01 The Transition of Poland to a Market Economy

Most economics courses taught in the US heavily emphasize the efficiency of markets and how individual decision-making, in freely functioning markets, can be modeled and understood. But there are a number of countries around the world whose economic organization is NOT mainly guided by markets; some of these economies remain partially controlled, or planned, where property and the means of production are formally government-owned and prices are centrally determined. This history of central planning has influenced the development of markets in much of Eastern Europe and the former Soviet Union; some economies have fully transitioned from planning to markets, while some lag significantly behind. In this class, students will study the history of the centrally-planned economic system and how it influenced economic development in Poland and we learn how Poland’s economy has transitioned to a market-oriented economy.





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