Aims
The module aims to introduce students to the economic issues and debates surrounding the process of economic transition in Russia and Eastern Europe. From its inception in 1917 until its demise in 1991 the former Soviet Union, and its Warsaw Pact satellite states after the post-WW2 Yalta settlement, were managed economically as centrally planned, "command" economies. Transition to a market-based system with private rather than state ownership of business organisations has presented a range of problems of economic policy and a large literature in economics has arisen dealing with these. the study of economic transition is wider applicability since it focuses on the relative advantages and disadvantages of market-based versus organisation incentive systems. To greater or lesser extent all economic and business activity must address the question of the scope and limitations of markets.

Learning outcomes
Through lecture presentation, seminar discussion, private study and directed reading students should achieve the following learning outcomes:

• a working understanding of why the centrall-planned economic system failed and the problems that transition to a market economy generates
• a familiarity with the economic policy debates and choices which have now arisen int he economies of Eastern Europe and the republics of former USSR economists
• an understanding of the methods for privatising former state-owned and state-planned enterprises
• an understanding of the impact of the opening of the transition economies to world markets
• an ability to assess the future potential of the transition economies, in particular as potential future members of the European Union

Module outline
The current year's module outline can be found via The School's website