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Semester 2

Political Economy of Korean Development (ASST10152)

Subject

Asian Studies

College

CAHSS

Credits

20

Normal Year Taken

4

Delivery Session Year

2023/2024

Pre-requisites

Visiting Students are expected to have the equivalent academic background to University of Edinburgh 4th year degree students. Entry is at the discretion of the Course Organiser.

Course Summary

The Korean peninsula is known today for two extremes of political and economic development: explosive economic growth in the South, and communist dictatorship in the North. This course familiarises students with the political economy of Korea to examine the two Koreas' divergent paths. Students will consider multiple issues that highlight the relevance of the Korean political economy within broader debates over the political economy of development. What are the historical and cultural roots of Korean development? How can we assess the legacies of colonial rule, post-war reconstruction, externally-driven modernisation, and state-led development? Why was North Korea richer than South Korea for the first two decades after the Korean War? How are markets transforming North Korea? This course uses questions such as these as a vantage point to reflect upon the role of states, markets, and social forces (both local and international) in shaping economic and political developments on the Korean peninsula.

Course Description

This course familiarises students with the economies of the two Koreas and embeds their strategies of economic development in a broader comparative perspective. After an initial introduction to the historical development of the Korean economy, the course introduces theories of political economy which will then be used to analyse the rise and demise of the socialist economy in the North, state-led models of economic development and industrialisation in the South, the impact of the 1997 Asian financial crisis, and the introduction of neo-liberal policies in the South. Themes discussed will also include the role and importance of large industrial conglomerates (Chaebol), the evolution of labour unions, and their role in the demise of authoritarian rule and the post-democratisation period. The last part of the course also discusses the rise of polarisation and inequality in South Korean society and the emergence of informal markets in North Korea.

Assessment Information

Written Exam 0%, Coursework 100%, Practical Exam 0%

view the timetable and further details for this course