In this course, we try to understand the puzzle of differential economic development of Latin America as a region and its countries in particular. Our lens of analysis is employing economic tools but also draws on other disciplines such as history and sociology. The course covers a broad range of economics and introduces you to aspects of macroeconomics, microeconomics, international economics, labor and development economics. Initially, we will study different ways to measure development in Latin America. We will then begin our journey to identify reasons and causes for various development outcomes of the Latin American region and differential economic success and failure of specific countries. In the first half of the semester we will examine the historical background and endowments, policies of export-led growth and import-substitution, the debt crisis and the subsequent stabilization. We will cover the financial crisis of the late 1990s and the early 2000s. Then we will turn our focus to the recent years and challenges to economics growth in Latin America and Latin American countries. Here, we will assess trade, investment climate, poverty, and inequality in the region. The situation and policies addressing the informal economy, education and health in Latin America will be discussed in detail. Thereafter, we will analyze gender and ethnicity in the context of Latin American development.
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