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Organization, Regulations, and Courses 2021-22


ECON 70.03 Macroeconomics Policy in Latin America: Argentina and Chile

Latin America has been a region buffeted by major economic and political shocks over the past century (military coups to democratization, closed trade policies to openness, macroeconomic instability and hyperinflation to macroeconomic stability). Economies in the region have been marked by high levels of income inequality and an enormous variety of economic policies, from macroeconomic populism (taken to an extreme in Venezuela) to economic orthodoxy (Chile). This course explores these issues, focusing on why certain economic policies are chosen and the consequences, emphasizing the contrasting experiences of Chile and Argentina. While Chile has achieved economic growth and macroeconomic stability since the mid-1980s, Argentina has struggled to achieve the same outcome and has been beset by financial crises and currency collapses. This course emphasizes the economic policy choices that lead to such divergent outcomes and the political and economic obstacles to economic development, policy reform, and structural adjustment.

Instructor

Irwin, Rose

Prerequisite

ECON 1

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