ECON 2720 - Economy of Latin America

Prerequisite: ECON 100, ECON 1080, or ECON 180A; or both ECON 1001 and ECON 1002.
Credits: 3

Why were many Latin American countries, which started with levels of development similar to those of the U.S. and Canada, not able to keep up? This course reviews the historic and contemporary economic issues and development in the Latin America and Caribbean region. We start with the policies, both domestic and foreign, undertaken during the colonial and post-Independence periods and see what effects they still have today. Next, we examine the import substitution of the 1970s, the debt crises of the 1980s, and the structural reforms of the 1990s. Finally, we look at the current state of the region, emphasizing the new macroeconomic challenges and contemporary domestic social problems. Topics discussed include income inequality and poverty, inflation, macroeconomic populism, dollarization, and the more recent debt crises and restructurings.