Economics Across the Atlantic: Understanding Economic and Social Differences between the US and Europe (IEF)

Our economic lives are constantly changing: Technological change, economic and political crises shaped the world since the industrial revolution during the last 200 years. Countries in Central and Eastern Europe (CEE) in particular experienced several upheavals during the last 150 years: The collapse of the Austrian-Hungarian Empire, weak political and economic institutions after World War I, ethnic cleansing after World War II, a centralized planning economy and the transition towards a market economy after 1990 are partially still visible in socio-economic figures today. A long-term perspective on the evolution of economic figures can also help to understand changes and obstacles today. The course bases on a broader understanding of economic development. Despite classical economic measures like GDP, inflation or population growth, we will also discuss so-called soft economic variables such as norms, culture, trust and social capital.

Pre-requisites:

none

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