South Korea’s Economy: Challenges and Prospects

Course Number:ASAN 620
Course Title:South Korea's Economy: Challenges and Prospects
Course Description:The course covers important subjects for Korean economy, which includes, but not limited to problems and challenges of economy in South Korea, its development history, government roles, issues related with globalization, income inequality, population and human resources, international trade, financial crisis, and political economy.

This course begins with examining the century-old economic development of Korea as well as East Asia. The first half of the course will be devoted to review the evolution of the Korean economy during the last several decades in comparison with other East Asian economies. Major characteristics as well as the most important changes of each decade will be explained. During the second half of the course, more specific topics such as roles of government policies, income inequality, firms and industrial policy, economic institutions, and social issues will be studied.
Learning Objectives: The purpose of this course is to improve the understanding of the Korea economy. In doing so, students are expected to enhance their knowledge about theories of economic development in the light of the Korean and the other East Asian experiences.

More specifically, upon completion of the courses, students are expected to i) understand theoretical foundations for economy, ii) understand institutional context of development found in Korea, iii) appreciate the national, regional and global aspects of them, iv) recognize policy issues in the region, and v) become comfortable engaging in discussion and debate the challenges and prospects of South Korean economy.