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In cooperation with 
(German Institute for Economic Research)
By Assoc. Prof. Christopher F Baum, DIW Research Professor, DIW Berlin
This three credit hour course will count as an upper-level elective toward the Economics major and minor requirements (for those who have already completed EC201 or EC202: a lower-level elective otherwise), as an elective for the CSOM Economics concentration, and as an approved elective for the International Studies major and minor. Completion of EC201-202 (Intermediate Theory) and EC228 (Econometric Methods) is useful but not essential. The course should be of interest to students in economics, management, international studies, political science, sociology and related disciplines. No knowledge of the German language is presumed, but would be helpful.
Students receiving institutional financial aid are eligible to apply for McGillycuddy-Logue Travel Grants to defray some of the costs of participation. Other financial support, such as that provided by the IIE Gilman International Scholarship Program, may also be available; check with OIP.
Students should arrange their travel to arrive in Berlin on Tuesday 22 May (the day after BC's Commencement). Note that most international flights will arrive at Tegel airport (TXL), but as this airport is closing permanently on 3 June, your return flight will be from the new Berlin-Brandenburg airport (BER). There will be an orientation on Wednesday at the offices of IES Abroad Berlin and classes will begin at 9:00 AM sharp on the morning of Thursday 24 May.
All class meetings will be held at the DIW Berlin research institute, 58 Mohrenstraße in central Berlin, from 9:00 AM-noon. Please be on time for class meetings. The first meeting will be held in the Eleanor Dulles room, 5th floor. The course will meet for 45 contact hours over fifteen class days, ending Friday 15 June. There will be no class on Monday 28 May, which is the Whitmonday holiday in Germany, nor on that Friday, 1 June. Some of the international graduate students at the DIW Berlin Graduate Center will interact with BC students, inside and outside class.
The class will include a number of additional social and cultural events, described below.
The current turmoil in Europe over the Greek financial crisis has focused attention on the Eurozone, its viability, and the stresses within a monetary union with limited fiscal powers. Just as in the US and UK, a number of European banks and financial institutions have been adversely affected by the broader financial crisis. But these financial issues are a subset of the major policy challenges facing European countries within the EU, those in the Eurozone, and those outside one or both of those clubs.
European economies with extensive social welfare programs have been criticized for many years as lacking the labor market flexibility that would enable them to compete with their trading partners in the US and Asia. Many European countries' adverse demographic trends imply that their pension and retirement income issues are considerably more serious than the threats facing the US Social Security system. Productivity gains in European economies have been hindered by the lack of innovation that has characterized the US economy, reflecting to some degree the lack of support for start-up firms provided by private equity and venture capital in the US. Although continental bank-based financial systems may provide excellent support to established firms, they may also hinder formation of new enterprises. The high tax burdens required to finance generous social welfare programs have reduced governments' ability to address other priorities, such as the declining presence of European universities among the world's most prestigious institutions of higher education.
The policy challenges facing European economies, and the methods used to study and address them, are the focus of this summer course on economic policy analysis from a European perspective. The course will involve a series of lectures on the major policy issues, with readings from the text Economic Policy: Theory and Practice interspersed with six presentations by leading researchers at DIW Berlin, a highly respected German policy research institute. Guest lecturers will focus on their research areas of specialization and present a practical understanding of the issues. Emphasis will be placed on how policy analysis is carried out, including its expositional and methodological aspects, in order to provide clear and convincing findings to government, business, academe and the media.
Students will receive a local zone A/B VBB transportation pass for the duration of their Berlin stay. The Berlin transit system runs 24/7, although subways (U-Bahn) and heavy rail (S-Bahn) are replaced by night buses (Nachtbus) late at night. U-Bahn and S-Bahn lines operate on the honor system; you must show your valid VBB pass if requested by an inspector. To ride the bus, show your pass to the driver.
Students should bring a "business casual" outfit for more formal cultural events such as the opera, symphony concerts, etc. Blouse and slacks, suit or dress for women, button-down shirt and slacks (not jeans!) for men. No need for party dresses, suits, ties, etc., just respectable attire for similar events in downtown Boston. Bring comfortable shoes for day trips, which will involve a lot of walking.
Wed 23 May 1000-1400h: Orientation at IES Abroad Berlin, group picture, tour of surroundings, lunch break
1400-1700h: Hop-on hop-off bus tour from Unter den Linden 36, IES Abroad Berlin guide
1800h: Welcome dinner, Clärchens Ballhaus, Auguststraße 24 (one block north, one block east from Orianenburger Str. S-Bahn)
Sat 26 May 2000h: Berlin Philharmonie, Kammermusiksaal, BerlinClassicPlayers, Mozart program
Sun 27 May: free day; Carnival of the Cultures in Berlin
Mon 28 May (national holiday, Pentecost): Trip to Pergamon Museum, Museuminsel, details TBA
Tue 29 May 1300h, Lunchtime concert, Berlin Philharmonie
Fri 1 Jun: no class, free day. Suggested sights to be discussed.
Sat 2 Jun: day trip to Potsdam, city and palaces, details TBA
Sun 3 Jun 1930h: Deutsche Oper Berlin: Mozart's The Magic Flute (Zauberflöte)
Tue 5 Jun 1630h: Reichstag tour (must bring passport!)
Sat 9 Jun: free day
Sun 10 Jun: free day
Fri 15 Jun 1700h: Farewell dinner, Maximilian's, Friedrichstraße 185-190 (close to DIW Berlin)
Sat 16 Jun: Check-out of hotel, departure
Additional cultural event: to be scheduled.
You may send Prof. Baum an email message.
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http://www.bc.edu/economics |