The Korean Economic Development
Doo Won Lee
Университет Ёнсе
You will review the evolution of the Korean economy decade by decade since Korea's independence from Japan in 1945. Major policies of each decade will be explained and their effect on the Korean economy will be analyzed. Also, the backgrounds and limitations of important policies will be scrutinized. By doing so, you will be able to compare the Korea experience with the other developing countries'.
1.	You will be able to explain how the miracle of the Korean economic development was made possible. 2.	By examining internal and external conditions behind the decision making of major policies in Korea, you will be able to draw lessons that can be applicable to today's developing countries. 3.	You can explain how the Korean economy has interacted with the global economy in the past. 4.	You can observe how economic theories and models can be applied to the Korean case.
Прибл. 8 часов на выполнение
Субтитры: Французский, Португальский (Европа), Китайский (упрощенное письмо), Корейский, Русский, Английский, Испанский
10,720 учащихся
Yonsei University was established in 1885 and is the oldest private university in Korea.
Yonsei's main campus is situated minutes away from the economic, political, and cultural centers of Seoul's metropolitan downtown. Yonsei has 3,500 eminent faculty members who are conducting cutting-edge research across all academic disciplines. There are 18 graduate schools, 22 colleges and 133 subsidiary institutions hosting a selective pool of students from around the world. Yonsei is proud of its history and reputation as a leading institution of higher education and research in Asia.
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Introduction: Preview and Overall Evaluation
Module 1. Introduction I: This module introduces initial conditions of the Korean economy at the time of independence from Japan in 1945. Upon describing unfavorable initial conditions, it summarizes three major achievements of the Korean economic development after the Korean War (1950-1953).
Module 2. Introduction II: In order to explain the determinant factors of the Korean economic success, this module provides two approaches. First, it introduces neoclassical growth model, and explains how each production factor has contributed to economic growth. Second, it introduces institutional approach, which emphasizes the role of the government. Also, it shows the strength and weakness of the Korean economy.
3 видео ((всего 28 мин.))
Trailer2мин
Introduction I12мин
Introduction II13мин
Introduction30мин
Module 3. From independence to the War: After independence from Japan, the newly established Korean government has implemented two meaningful reforms; land reform and educational reform. Main contents and implications of these reforms are explained. This module also introduces economic impact of the Korean War.Module 4. Import Substitution Policy of the 50s: After the Korean War, the Korean government needed to stabilize the hyper-inflation from the mid-1950. Also, IS (import substitution) polices were employed to achieve industrialization and growth. This module introduces major policy tools of IS, and its results.Module 5. The Role of Economic Aid: This module introduces the size and role of economic aids on the Korean economy during the 1950s. It also compares Korea to the other developing countries in terms of aids policies. It also briefly introduces the history of ODA (official development assistance) in Korea.
Supplementary Video: Education After the War49
From Independence to the War16мин
Import Substitution Policy of the 50s14мин
Supplementary Video: Foreign Aid39
The Role of Foreign Aid10мин
1940 and 1950s Quiz30мин
Module 6. Export Promotion of the 60s: From the early 1960s, Korea has changed its development strategy from IS (import substitution) to EP (export promotion). This module introduces backgrounds, major policies, and results of EP policies. Also it compares the Korean experiences of EP to those of Japan. Module 7. Five Year Development Plan and Mobilization of Capital: This module explains how the Five Year Development Plans were launched from the early 1960s. Also, it introduces efforts of the Korean government to mobile capital inside and outside Korea during the 1960s.
Export Promotion Policy of the 60s12мин
Supplementary Video: 1960s 5 Year Development Plan, West Germany and Light Industry2мин
Supplementary Video: Saemaul Undong (New Community Movement)1мин
Five Year Development Plan and Mobilization of Capital13мин
1960s Quiz30мин
Module 8. Heavy and Chemical Industrialization (HCI) of the 70s: From the early 1970s, Korea has aggressively pursued HCI (heavy and chemical industrialization) policies. This module explains backgrounds, major policies, and main results of HCI policies.Module 9. Side-effects of HCI and Oil Shocks: This module introduces some side-effects of aggressive HCI (heavy and chemical industrialization) policies. It explains how these side-effects are inter-related with each other. Also, it introduces impacts of oil shocks on the Korean economy during the 1970s, and explains how the Korean economy recovered from oil shocks.
Supplementary Video: 1970s Heavy and Chemical Industry2мин
Heavy and Chemical Industrialization (HCI) of the 70s11мин
Supplementary Video: Oil Shock and Middle East Construction28
Supplementary Video: 2nd Oil Shock and Recovery16
Side-effects of HCI and Oil Shocks9мин
Module 10. Crisis Management & Structural Reform and Trade Liberalization of the 80s: The Korean economy was close to foreign exchange crisis in the early 1980s. This module explains how Korea could avoid the crisis and stabilize the economy by the mid-1980s. It also introduces structural reforms and trade liberalization reforms. Module 11. Three Lows & Economic Boom of the 1980s: This module introduces favorable international environments called 'three-lows', which emerged from the mid-1980s. It introduces backgrounds of three-lows, and explains how these three-lows helped the Korean economy to enjoy the unprecedented economic boom. Also, it introduces how the democratization of the Korea society has influenced the economy.
Crisis Management & Structural Reform and Trade Liberalization of the 80s8мин
Supplementary Video: 3-Lows25
Three-Lows & Economic Boom of the 1980s7мин
The early 1990s
Module 12. The Early 1990s: In the early 1990s, the Korean economy has faced the end of high growth era. However, the Korean economy has failed to adapt itself to slower growth, and the problem of 'high costs and low efficient' economic structure emerged.
The early 1990s10мин
1997 Asian Financial Crisis
Module 13. 1997 Asian Financial Crisis I: In the end of 1997, the Korean economy fell into foreign exchange crisis and had to be bailed out by IMF (international monetary fund). This module explains the internal and external causes of the 1997 Asian Financial Crisis.
Module 14. 1997 Asian Financial Crisis II: In order to recover from the 1997 Asian Financial Crisis, the Korean government and IMF implemented four major reforms in the area of financial sector, corporate sector, labor market, and government. This module introduces main contents of these reforms, and explains how they helped the Korean economy to recover from the crisis. Module 15. 1997 Asian Financial Crisis III: This module introduces some side-effects and controversial issues with respect to the 1997 Asian Financial Crisis. Also, it explains about implications of the 1997 crisis on the Korean economy.
Supplementary Video: OECD and IMF2мин
1997 Asian Financial Crisis I6мин
1997 Asian Financial Crisis II8мин
1997 Asian Financial Crisis III8мин
1997 Asian Financial Crisis Quiz30мин
2008 Global Financial Crisis and Beyond
Module 16. 2008 Global Financial Crisis & Beyond: In September, 2008, the global economy fell into financial crisis after the collapse of Lehman Brothers. This module explains how the 2008 global financial crisis affected Korea, and also explains how Korea has recovered from it.
Module 17. 2008 Global Financial Crisis & Beyond: This module introduces implications of the 2008 global financial crisis on the Korean economy. Also, it shows the most recent picture of the Korean economy by introducing strength and weakness of the Korean economy.
5 видео ((всего 24 мин.)), 1 материал для самостоятельного изучения, 1 тест
Supplementary Video: Automobile Industry1мин
Supplementary Video: Semiconductor Industry49
Supplementary Video: IT Industry46
2008 Global Financial Crisis & Beyond10мин
Reviving South Korea's Economy "Faltering flagship"1мин
2008 Global Financial Crisis and Beyond Quiz30мин
Final Peer Review
Лучшие отзывы о курсе THE KOREAN ECONOMIC DEVELOPMENT
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от партнера AS12 окт. 2016 г.
Though my educational background is not economics but I have taken this course out of my interest about Korea and made the right choice. I have enjoyed the course very much and learned a lot.
от партнера L13 авг. 2016 г.
I like it a lot. I wish though that this website was better flowing with the lectures. I have to refresh multiple times to make sure the video is where it should be...idk how to explain it.
от партнера NJ30 июня 2017 г.
This was a really fun course. I really enjoyed it a lot. I could understand easily. There wasnt too much of overwhelming information presented in a boring way. It was a really nice.
от партнера DH23 авг. 2018 г.
This is an excellent background of Korea's History in economic area. You can take as example of poverty till development and see that correct decisions lead to a development future
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