The Russian Economy: From Plan to Market A

Centre for Russian and East European Studies, School of Government and Society

College of Social Sciences


Code 15130

Level of study Third/Final year

Credit value 10

Semester 1

Pre-requisite modules None

Other pre-requisites None

Module description

The institutions of the Soviet planned economy are reviewed, together with the system of economic planning and the non-market allocation of resources. The behavioural characteristics of the system are explored and its economic performance analysed. Attempts to reform the system, including the Gorbachev perestroika are investigated and the reasons for the economy¿s decline and ultimate collapse explored. This understanding of the planned economy provides the basis for a detailed examination of post-communist economic transformation in Russia with some comparisons, when appropriate, with other economies in transition. Issues of macroeconomic stabilisation, domestic and external liberalisation and privatisation are analysed. The 1998 financial crisis and its aftermath is analysed, and the role of Western assistance and investment investigated. In conclusion, prospects for the creation of a viable market economy are explored, with comparisons with China, India and other large emerging economies: what kind of capitalism is evolving in Russia under President Putin and beyond?

Teaching and learning methods

2 x lectures per week