The Korean Economic Development

Location type
Logo Coursera
Provider rating: starstarstarstar_borderstar_border 6.3 Coursera has an average rating of 6.3 (out of 4 reviews)

Need more information? Get more details on the site of the provider.

Description

When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: You will review the evolution of the Korean economy decade by decade since Korea’s independence from Japan in 1945. Major policies of each decade will be explained and their effect on the Korean economy will be analyzed. Also, the backgrounds and limitations of important policies will be scrutinized. By doing so, you will be able to compare the Korea experience with the other developing countries’. 1. You will be able to explain how the miracle of the Korean economic development was made possible. 2. By examining internal and external conditions behind the decision making of major policies in Korea, you will be able to draw lessons that can be applicable to today’s de…

Read the complete description

Frequently asked questions

There are no frequently asked questions yet. Send an Email to info@springest.com

Didn't find what you were looking for? See also: Economics, Global MBA, Global Environment, Executive MBA, and Business Analysis.

When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: You will review the evolution of the Korean economy decade by decade since Korea’s independence from Japan in 1945. Major policies of each decade will be explained and their effect on the Korean economy will be analyzed. Also, the backgrounds and limitations of important policies will be scrutinized. By doing so, you will be able to compare the Korea experience with the other developing countries’. 1. You will be able to explain how the miracle of the Korean economic development was made possible. 2. By examining internal and external conditions behind the decision making of major policies in Korea, you will be able to draw lessons that can be applicable to today’s developing countries. 3. You can explain how the Korean economy has interacted with the global economy in the past. 4. You can observe how economic theories and models can be applied to the Korean case.

Created by:  Yonsei University
  • Taught by:  Doo Won Lee, Professor

    School of Economics
Commitment 5 weeks of study, 1-3 hours/week Language English, Subtitles: Korean, Spanish, Chinese (Simplified) How To Pass Pass all graded assignments to complete the course. User Ratings 4.7 stars Average User Rating 4.7See what learners said 课程作业

每门课程都像是一本互动的教科书,具有预先录制的视频、测验和项目。

来自同学的帮助

与其他成千上万的学生相联系,对想法进行辩论,讨论课程材料,并寻求帮助来掌握概念。

证书

获得正式认证的作业,并与朋友、同事和雇主分享您的成功。

Yonsei University Yonsei University was established in 1885 and is the oldest private university in Korea. Yonsei’s main campus is situated minutes away from the economic, political, and cultural centers of Seoul’s metropolitan downtown. Yonsei has 3,500 eminent faculty members who are conducting cutting-edge research across all academic disciplines. There are 18 graduate schools, 22 colleges and 133 subsidiary institutions hosting a selective pool of students from around the world. Yonsei is proud of its history and reputation as a leading institution of higher education and research in Asia.

Syllabus


WEEK 1


Introduction: Preview and Overall Evaluation



Module 1. Introduction I: This module introduces initial conditions of the Korean economy at the time of independence from Japan in 1945. Upon describing unfavorable initial conditions, it summarizes three major achievements of the Korean economic development after the Korean War (1950-1953). Module 2. Introduction II: In order to explain the determinant factors of the Korean economic success, this module provides two approaches. First, it introduces neoclassical growth model, and explains how each production factor has contributed to economic growth. Second, it introduces institutional approach, which emphasizes the role of the government. Also, it shows the strength and weakness of the Korean economy.


3 videos expand


  1. Video: Trailer
  2. Video: Introduction I
  3. Video: Introduction II

Graded: Introduction

1940s and 1950s



Module 3. From independence to the War: After independence from Japan, the newly established Korean government has implemented two meaningful reforms; land reform and educational reform. Main contents and implications of these reforms are explained. This module also introduces economic impact of the Korean War.Module 4. Import Substitution Policy of the 50s: After the Korean War, the Korean government needed to stabilize the hyper-inflation from the mid-1950. Also, IS (import substitution) polices were employed to achieve industrialization and growth. This module introduces major policy tools of IS, and its results.Module 5. The Role of Economic Aid: This module introduces the size and role of economic aids on the Korean economy during the 1950s. It also compares Korea to the other developing countries in terms of aids policies. It also briefly introduces the history of ODA (official development assistance) in Korea.


5 videos expand


  1. Video: Supplementary Video: Education After the War
  2. Video: From Independence to the War
  3. Video: Import Substitution Policy of the 50s
  4. Video: Supplementary Video: Foreign Aid
  5. Video: The Role of Foreign Aid

Graded: 1940 and 1950s Quiz

WEEK 2


1960s



Module 6. Export Promotion of the 60s: From the early 1960s, Korea has changed its development strategy from IS (import substitution) to EP (export promotion). This module introduces backgrounds, major policies, and results of EP policies. Also it compares the Korean experiences of EP to those of Japan. Module 7. Five Year Development Plan and Mobilization of Capital: This module explains how the Five Year Development Plans were launched from the early 1960s. Also, it introduces efforts of the Korean government to mobile capital inside and outside Korea during the 1960s.


4 videos expand


  1. Video: Export Promotion Policy of the 60s
  2. Video: Supplementary Video: 1960s 5 Year Development Plan, West Germany and Light Industry
  3. Video: Supplementary Video: Saemaul Undong (New Community Movement)
  4. Video: Five Year Development Plan and Mobilization of Capital

Graded: 1960s Quiz

1970s



Module 8. Heavy and Chemical Industrialization (HCI) of the 70s: From the early 1970s, Korea has aggressively pursued HCI (heavy and chemical industrialization) policies. This module explains backgrounds, major policies, and main results of HCI policies.Module 9. Side-effects of HCI and Oil Shocks: This module introduces some side-effects of aggressive HCI (heavy and chemical industrialization) policies. It explains how these side-effects are inter-related with each other. Also, it introduces impacts of oil shocks on the Korean economy during the 1970s, and explains how the Korean economy recovered from oil shocks.


5 videos expand


  1. Video: Supplementary Video: 1970s Heavy and Chemical Industry
  2. Video: Heavy and Chemical Industrialization (HCI) of the 70s
  3. Video: Supplementary Video: Oil Shock and Middle East Construction
  4. Video: Supplementary Video: 2nd Oil Shock and Recovery
  5. Video: Side-effects of HCI and Oil Shocks

Graded: 1970s Quiz

WEEK 3


1980s



Module 10. Crisis Management & Structural Reform and Trade Liberalization of the 80s: The Korean economy was close to foreign exchange crisis in the early 1980s. This module explains how Korea could avoid the crisis and stabilize the economy by the mid-1980s. It also introduces structural reforms and trade liberalization reforms. Module 11. Three Lows & Economic Boom of the 1980s: This module introduces favorable international environments called ‘three-lows’, which emerged from the mid-1980s. It introduces backgrounds of three-lows, and explains how these three-lows helped the Korean economy to enjoy the unprecedented economic boom. Also, it introduces how the democratization of the Korea society has influenced the economy.


3 videos expand


  1. Video: Crisis Management & Structural Reform and Trade Liberalization of the 80s
  2. Video: Supplementary Video: 3-Lows
  3. Video: Three-Lows & Economic Boom of the 1980s

Graded: 1980s Quiz

The early 1990s
Module 12. The Early 1990s: In the early 1990s, the Korean economy has faced the end of high growth era. However, the Korean economy has failed to adapt itself to slower growth, and the problem of ‘high costs and low efficient’ economic structure emerged.


1 video expand


  1. Video: The early 1990s

Graded: 1990s Quiz

WEEK 4


1997 Asian Financial Crisis



Module 13. 1997 Asian Financial Crisis I: In the end of 1997, the Korean economy fell into foreign exchange crisis and had to be bailed out by IMF (international monetary fund). This module explains the internal and external causes of the 1997 Asian Financial Crisis. Module 14. 1997 Asian Financial Crisis II: In order to recover from the 1997 Asian Financial Crisis, the Korean government and IMF implemented four major reforms in the area of financial sector, corporate sector, labor market, and government. This module introduces main contents of these reforms, and explains how they helped the Korean economy to recover from the crisis. Module 15. 1997 Asian Financial Crisis III: This module introduces some side-effects and controversial issues with respect to the 1997 Asian Financial Crisis. Also, it explains about implications of the 1997 crisis on the Korean economy.


4 videos expand


  1. Video: Supplementary Video: OECD and IMF
  2. Video: 1997 Asian Financial Crisis I
  3. Video: 1997 Asian Financial Crisis II
  4. Video: 1997 Asian Financial Crisis III

Graded: 1997 Asian Financial Crisis Quiz

WEEK 5


2008 Global Financial Crisis and Beyond



Module 16. 2008 Global Financial Crisis & Beyond: In September, 2008, the global economy fell into financial crisis after the collapse of Lehman Brothers. This module explains how the 2008 global financial crisis affected Korea, and also explains how Korea has recovered from it. Module 17. 2008 Global Financial Crisis & Beyond: This module introduces implications of the 2008 global financial crisis on the Korean economy. Also, it shows the most recent picture of the Korean economy by introducing strength and weakness of the Korean economy.


5 videos, 1 reading expand


  1. Video: Supplementary Video: Automobile Industry
  2. Video: Supplementary Video: Semiconductor Industry
  3. Video: Supplementary Video: IT Industry
  4. Video: 2008 Global Financial Crisis & Beyond
  5. Video: 2008 Global Financial Crisis & Beyond
  6. 阅读: Reviving South Korea’s Economy "Faltering flagship"

Graded: 2008 Global Financial Crisis and Beyond Quiz

Final Peer Review





    Graded: Peer Review
    There are no reviews yet.
    • View related products with reviews: Economics.

    Share your review

    Do you have experience with this course? Submit your review and help other people make the right choice. As a thank you for your effort we will donate $1.- to Stichting Edukans.

    There are no frequently asked questions yet. Send an Email to info@springest.com