Asian Economies

The course is open to students from both economics and non-economics backgrounds who are interested in the diverse experiences of Asian economies. The course aims to give students the analytical skills to compare and contrast the multiple paths to prosperity and critically assess the prospects and challenges for Asian economies and their citizens to thrive in the future. The course moves beyond the mainstream approach to assessing country-level economic performance by incorporating seven ways to think like a 21st-century economist, as explained in the book Doughnut Economics, in a holistic exploration of the economic growth and development patterns in the dynamic Asian region. These include shifting the goal beyond GDP to broader measures of sustainable development and human well-being; understanding the importance of economic and political systems beyond the textbook 'free market'; recognising the critical role of governments in supporting equitable and regenerative development; and questioning whether the 20th-century obsession with economic growth is compatible with 21st-century development challenges. Drawing on the diverse lessons offered by Japan's early industrialisation and the East Asian 'miracle', 'socialism with Chinese characteristics', India's population dynamics, Bhutan's gross national happiness, and more, the course will use both analytical and comparative methods to cover topics including inequality, 'green' development, the winners and losers of globalisation, the links between population and growth, and the economics of happiness.