About this Course
4.7
115 ratings
37 reviews
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Hours to complete

Approx. 10 hours to complete

Suggested: 5 weeks of study, 1-3 hours/week...
Available languages

English

Subtitles: English, Korean, Spanish, Chinese (Simplified)
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Hours to complete

Approx. 10 hours to complete

Suggested: 5 weeks of study, 1-3 hours/week...
Available languages

English

Subtitles: English, Korean, Spanish, Chinese (Simplified)

Syllabus - What you will learn from this course

Week
1
Hours to complete
1 hour to complete

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....
Reading
3 videos (Total 28 min), 1 quiz
Video3 videos
Introduction I12m
Introduction II13m
Quiz1 practice exercise
Introduction10m
Hours to complete
1 hour to complete

1940s and 1950s

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....
Reading
5 videos (Total 43 min), 1 quiz
Video5 videos
From Independence to the War16m
Import Substitution Policy of the 50s14m
Supplementary Video: Foreign Aidm
The Role of Foreign Aid10m
Quiz1 practice exercise
1940 and 1950s Quiz16m
Week
2
Hours to complete
1 hour to complete

1960s

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....
Reading
4 videos (Total 31 min), 1 quiz
Video4 videos
Supplementary Video: 1960s 5 Year Development Plan, West Germany and Light Industry2m
Supplementary Video: Saemaul Undong (New Community Movement)1m
Five Year Development Plan and Mobilization of Capital13m
Quiz1 practice exercise
1960s Quiz12m
Hours to complete
1 hour to complete

1970s

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....
Reading
5 videos (Total 25 min), 1 quiz
Video5 videos
Heavy and Chemical Industrialization (HCI) of the 70s11m
Supplementary Video: Oil Shock and Middle East Constructionm
Supplementary Video: 2nd Oil Shock and Recoverym
Side-effects of HCI and Oil Shocks9m
Quiz1 practice exercise
1970s Quiz10m
Week
3
Hours to complete
25 minutes to complete

1980s

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....
Reading
3 videos (Total 17 min), 1 quiz
Video3 videos
Supplementary Video: 3-Lowsm
Three-Lows & Economic Boom of the 1980s7m
Quiz1 practice exercise
1980s Quiz8m
Hours to complete
15 minutes to complete

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....
Reading
1 video (Total 11 min), 1 quiz
Video1 video
Quiz1 practice exercise
1990s Quiz4m
Week
4
Hours to complete
1 hour to complete

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....
Reading
4 videos (Total 27 min), 1 quiz
Video4 videos
1997 Asian Financial Crisis I6m
1997 Asian Financial Crisis II8m
1997 Asian Financial Crisis III8m
Quiz1 practice exercise
1997 Asian Financial Crisis Quiz10m
4.7
37 ReviewsChevron Right

Top Reviews

By NJJul 1st 2017

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.

By BMJul 5th 2017

Great course, because you can learn about different policies and the neccesity to do changes when something is not working, due to nothing is going to be the best forever.

Instructor

Avatar

Doo Won Lee

Professor
School of Economics

About Yonsei University

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....

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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