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Introduces students to theories about why currency crises occur. Discusses whether crises can be predicted.

Examines several market entry options for R.R. Donnelley's expansion into Eastern Europe. Used as an introduction to a Harvard Business School course titled "New Opportunities in Emerging Markets." Asks students to consider the following issues: 1) the impact of macroeconomics and political instability on project profitability, 2) market research in an emerging market, 3) choice of a joint venture partner, 4) geographic versus industry diversification, and 5) capital structure.

Traces the founding and development of Houses for Africa, a firm established to build low-income housing in Zimbabwe. Explores entrepreneurship in an emerging market, the problems that arise when complementary markets do not function well, and the importance of distinguishing transitory opportunities from opportunities to establish first-mover advantage following liberalization.

Examines Chile's development strategy since 1973. Following a series of domestic economic reforms, the country must decide whether to join a regional trading block. Considers the advantages and disadvantages of regional trade agreements and examines the differences between a free trade agreement (NAFTA) and a customs union (Mercosur).

Tyco, a diversified U.S. conglomerate, has grown rapidly for more than 20 years. This case examines Tyco's acquisition strategy as well as its internal control systems.

After 20 years of strong economic performance, economic czar Zhu Rongji considers whether it is time to rethink China's development strategy. The case reviews China's development strategy since 1978 and considers the challenges facing the country as it enters the 21st Century. Teaching purpose: To develop familiarity with China, its distinctive development strategy, and the immense challenges it faces in the next 10 years.

Five years after economic liberalization, reform in India was stalled. Palaniappan Chidambaram had been recently appointed finance minister and was responsible for developing an economic plan. This case examines the economic and political impact of liberalization programs.

Provides information on economic reform programs in Poland and Czechoslovakia in 1990. Students are asked to compare and contrast the economic situations in the two countries, as well as the political constraints on reform.

Introduces the concept of fiscal policy.

Introduces the concept of national income accounting. This note: 1) defines GDP and provides examples; 2) discusses the differences between GDP and GNP; 3) presents both the expenditure and income decompositions of GDP; and 4) defines the relationships among net savings, net exports, and the fiscal debate.

The theory of competitive advantage is one of the most widely accepted economic principles among economists. The theory, as well as substantial historical evidence, suggest that free trade raises national income, while government intervention in trade relations generally lowers a nation's wealth. In the last few years, however, new theories have led some commentators to question this conclusion. Based on research into imperfectly competitive industries, some of the new theoretical research suggests that it is possible to increase national wealth with specific types of government intervention in trade relations. The research is referred to as the New International Economics, or Strategic Trade theory. While interesting, these trade theories are often misunderstood and used inappropriately. This note introduces four strategic theories of trade. Also discusses several critiques of these theories. A rewritten version of an earlier note.

How nations trade and whether they benefit from it are two of the oldest and most important questions in political economy. In the 170 years since David Ricardo formally developed the theory of comparative advantage, it has become one of the principles most widely accepted among professional economists. Despite this wide acceptance in the professional community, the basics of international trade are still poorly understood by many policy makers and casual commentators. This note introduces the theory of comparative advantage. It is divided into four sections. The first presents a short history of the concepts behind comparative advantage. The second develops a simple model with several examples to demonstrate the gains that result from trade between nations. The third briefly covers several extensions of the simple model. Finally, two traditional objections to free trade are reviewed. A rewritten version of an earlier note.