Globalization and Economic Structural Policy

Instructors

HAYASHI Ryozo

Term / Language / Credits

S1S2 / English / 2

Objectives

This course will examine the rise and decline of Japanese Economy. Japan started from nothing after WW2. She had succeeded in realizing astonishing rate of growth between 1945 and 1970. The conditions that made such miracle possible had been analyzed by many scholars in 70’s and 80’s. The course will examine the relations among several elements which facilitated rapid growth: Industrial Policy on one side and skillfully controlled capital market, lifetime employment system and aggressive management on the other side.Such high growth was slowed by the international constraints; Energy Crisis and Currency Revaluation. However, Japan survived as the highest growth rate nation among G7. The class will look into how Japan survived.

Then Japan went through “Alost decade.” The class will examine the dynamism behind the decline.
Adequate emphasis will be put on "Innovation" and relevant environment.

The class will be conducted in English. Student will be expected to make joint report on the assigned readings in the class, and to participate in the class discussion.

Keywords

Japanese Economic Development,industrial policy,Globalization,structural reform,innovation

Schedule

1 Objectives of Economic Policy
2 Behavior of Firms
3 Growth Policy in a Closed Economy
4 Growth Strategy in Transistion Period
5 Peak of Japanese Economic Power and New Globalization Stage
6 Bubble and Aftermath
7 Role of Market and Government in Economic Policy Making
8 Globalization and Corporate Governance
9 Globalization and Capital Market
10 Globalization and Labor Market
11 Innovation, Competitiveness and Economic Growth
12 Innovation and Technological Development
13 Demographic Change, Social Security Expenditure, Fiscal Deficit
14 Healthcare Industry

Teaching Methods

Lecture,Guest Speaker and Presentation by students

Grading

Grading will be based on class participation, presentation and a final report.

Reference Books

・ Komiya & Ito The Political Economy of Japan
・ Johnson　 MITI and the Japanese Miracle
・ Okimoto Between MITI and Market
・ Curtis Japanese Way of Politics
・ Aoki　Information, incentives, and bargaining in the Japanese economy
・ Yergin　Commanding Heights

Notes on Taking the Course

Students who have taken "Industrial Policy to Structural Policy" or "Globalization と経済構造政策”cannot take this cource for credit.

Related Websites

http://www.pp.u-tokyo.ac.jp/en/courses/index.htm

Related Resources

Course Catalog 2015-2016