Instructors
Byongwon Bahk - Koret Fellow, Asia-Pacific Research Center

Historic overview of the South Korean economy with an emphasis upon turning points and crises, and the policies used to overcome them, followed by an analysis of the challenges facing the Korean economy now and in the future. The course focus will be not only on South Korea’s economic policy successes but also on the lessons to learn from its failures and mistakes, as well as how South Korea should address current and future economic problems. The class will consider the success and failure elements in the Korean economy as a whole, by industry, including agriculture, manufacturing, services, and finance; and by input factors, including human resources, land supply, and social overhead capital. We will analyze in detail the most important choices Korea has made in its history of development, i.e., to pursue export-oriented development initially, and at a later stage, open door policy, including free trade agreements (FTAs) with the U.S., EU, and others. One session will be devoted to a study of the North Korean economy and South-North economic cooperation.

Level
Graduate and undergraduate