The course provides students with knowledge of the development in emerging markets. The emphasis is on five large economies - the BRIIC-countries: Brazil, Russia, India, Indonesia and China, but also smaller economies may be included. Students are at liberty to choose any emerging market and a theme for their projects. However, ASP students must choose an Asian country for deeper analysis. The course focuses on the institutional changes, which have opened up for high growth in these economies.
 
The course gives an overview of recent political, institutional and economic developments in the main emerging markets. It is based on an interdisciplinary framework focusing on, how institutions have changed, how they contribute to economic growth and development, and how they may act as barriers to change. The focus is on the interaction between politics, institutions (formal and informal - culture) and the economy. Special emphasis is on the relation between enterprises and the development at the level of society.

Preliminary plan for the course:

• Emerging markets and a model for analyzing societies: The dynamics between politics, institutional change and the economy
• Catching up growth - extensive and intensive growth – the middle income trap
• Russia and Eastern Europe – transition from command to market economy – stabilization, liberalization, privatization and restructuring
• Russia – current problems of modernization – from reforms to stagnation
• China – gradual transition to a developed market economy
• China –can the high growth go on?
• India – democracy and economic development - risks and opportunities
• Brazil – economic stabilization - development and inequality - growth challenges
• Indonesia - stages of political and economic development
• Globalization, FDI, and integration of emerging markets
• Emerging markets and the new global economic order – the China challenge
• Rounding up – differences and similarities between the BRIICs