This course will examine the policy issues faced by formerly socialist countries engaged in major economic reforms. Topics covered will include: (1) `big bang' versus gradualist approaches to economic reform; (2) stabilization programs to end high inflation; (3) strategies of privatization and enterprise restructuring; (4) reform of social policy and welfare institutions; and (5) the appropriate role for the state in these new economies. Format: seminar. Requirements: four short essays and a research paper. Prerequisites: Economics 251 and 252 (one of these courses may be taken concurrently). Enrollment limit: 25 (expected: 25).