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Prerequisites: ECON 1200 or both ECON 1201 and 1202.
Grading Basis: Graded
Economic transition of these formerly socialist economies into capitalist, market economies. Comparison of centrally planned and market economies. Problems of macroeconomic imbalance, economic distortions, shortages and repressed inflation. Means and timing of price liberalization, privatization, restructuring, currency convertibility, and building legal and financial institutions.
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