The Russian Economy: From Plan to Market B

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

College of Social Sciences


Code 15133

Level of study Third/Final year

Credit value 10

Semester 2

Pre-requisite modules None

Other pre-requisites None

Module description

The linked modules are devoted to an examination of a non-market economic system and its transformation into a market economy. 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 together with the reasons for the economy’s decline and ultimate collapse. This 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, privatisation and the 1998 financial crisis are analysed. In conclusion, prospects for the creation of a viable market economy are explored with account of the impact of the global financial-economic crisis, 2008-10, including comparisons with China, India and other large emerging economies: what kind of capitalism is evolving in Russia under President Medvedev and beyond?

Teaching and learning methods

2 x lectures per week