Portland State University

Department of Economics



Economics 448/548:

East Asian Economic Development (Fall 2016)

The second take-home midterm exam is available here



Course Time and Place:            TTh 14:00 – 15:50 & Fourth Ave Building 46

Instructor:                                      Hiro Ito, Professor of Economics

Office:                                            Cramer Hall 241-F

Email:                                             ito@pdx.edu

Phone:                                            x5 – 3930

Office Hours:                                TTh 13:00 – 14:00, or by appointment


There is a required reading packet for this course, that is available at Clean Copy, 1510 SW 6th Ave, Portland, OR 97201 , (503) 221-1876.


We will also use articles from Harvard Business Publishing (HBP). You will receive an email from me that will show how to create an account with HBP. Once you create an HBPaccount, you will have access to the articles that are required for this course. Each article costs about $4.


Other lecture notes and copies of journals and newspaper/magazine articles are occasionally distributed in class or posted on this website.


The HBP articles are available from here.


The course syllabus is available here.


The information about the presentation/term paper assignment is available here.





Lecture Notes

         East Asian Characteristics

         Japan’s experience 1: The Japan Model

         Japan’s Experience 2: Bubble and Heisei Recession

         Challenges facing Japan

         Korea and Taiwan

         East Asian Miracle

         China’s Economic Development

         China’s Economic Development 2

           TPP and Changes in Industrial Structure

           The Asian Crisis and China



Important dates

October 27 (Thur.)                     First take-home exam due

November 22 (Tues.)                Second take-home exam due

November 24 (Thurs.)              Thanksgiving

November 29 (Tues.)                Class cancelled

December 8 (Thurs.)                 Term paper due (12pm)


Class schedule and reading assignments

(“RP” means the articles/papers can be found in the reading packet. “HBR” means articles from Harvard Business Review)


Articles distributed in class


Liquidity trap, Ito (2008). In eds. K. Reinert and R. Rajan The Princeton Encyclopedia of the World Economy, Princeton University Press.

Article on Japan

Article on Taiwan

Article on Vietnam


Other articles:

Ito Ch.3, Krugman, “Japan’s Trap”)


The Economist’s survey on Korea (10/26/2013)



Week 5

The East Asian model




Chinese Economic Development


Chow, p. 9 – 67 (RP)



The first take-home exam will be due on October 27 (Thur.)

Week 6


Chinese economic development


Chow, p. 9 – 86, p.281 – 319. Spar and Oi (2006) “China: Building ‘Capitalism with Socialist Characteristics’” (HBP)




Trans-Pacific Strategic Economic Partnership



Week 7

East Asia and the Financial Crisis


Pill, et al., “Financial Crisis in Asia: 1997-98” (HBP)

Krugman, “Asia’s Crash”(Read the second half)


The Second take-home exam will be due on November 22 (Tues.)

Chinese economy and the world


The Economist: Special report on the Chinese economy, April 19, 2014


The Economist: Special report on the Chinese society, July 9, 2016


Vietor, “China Unbalanced” (HBP)


Student Presentation: Nov. 10

Alayna Ynacay-Nye: "Japanese Agricultural Policies: Sustainable Fisheries Management"


Week 8

Student Presentations: Nov. 15




Peter Miller: "The Demographic Transition and Economic Development in Korea"


Mirian Colman: "Chinese Puerh Tea Industry and the Government"


Volodymyr Kolychev: "A Tale of Two Countries: North and South Korean Economic Development"





Student Presentations: Nov. 17



Jarek Hunger: "Energy Policy of China"


Robert Enakiyev: "Story behind Korea and Samsung"


Braxton Tucker: "Aging Population Issue in Japan, Asia, and China"



Week 9

Student Presentations: Nov. 22


Michael Pfaff-Shamlmiyev: "Japan and India’s Nuclear Cooperation Pact"


Omar Hejazi: "Indonesia and Corruption"


Paul Hampshire: "The Rise of Samsung"


November 24: Thanksgiving!!


Week 10

Class cancelled on Nov. 29


December 1: Prof. John Gallup’s lecture on the Vietnamese economy






Updated on November 10, 2016