ECONOMIC HISTORY OF JAPAN B

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Subtitle	Institutional Analysis of Japanese Economy II
Lecturer(s)	NAKABAYASHI, MASAKI
Credit(s)	2
Academic Year/Semester	2024 Spring (2nd Half)
Day/Period	Wed.1,2
Campus	Mita
Class Format	Face-to-face classes (conducted mainly in-person)
Registration Number	63327
Faculty/Graduate School	ECONOMICS
Department/Major	ECONOMICS Type A, B
Year Level	3, 4
Field	MAJOR SUBJECTS
Grade Type	This item will appear when you log in (Keio ID required).
Course Description	This course provides an overview of the transformation of the Japanese economy from ancient times to the 20th century.
K-Number	FEC-EC-34132-212-07

Course Administrator	Faculty/Graduate School	FEC	ECONOMICS
Course Administrator	Department/Major	EC	ECONOMICS
Main Course Number	Level	3	Third-year level coursework
	Major Classification	4	Major Subjects Course- Core Course
	Minor Classification	13	Lecture - Economic History
	Subject Type	2	Elective required subject
Supplemental Course Information	Class Classification	2	Lecture
	Class Format	1	Face-to-face classes (conducted mainly in-person)
	Language of Instruction	2	English
Academic Discipline		07	Economics, business administration, and related fields

Course Contents/Objectives/Teaching Method/Intended Learning Outcome

Economic History of Japan B: Second Quarter

Industrialization from the 1880s not only accelerated productivity growth but also transformed Japanese society into a more market-oriented system, the entire process of which is called the industrial revolution. The modern sectors in Japanese society composed a classical market economy from the 1880s to the 1910s. The development in the period was supported by the well-integrated international market and was at least partly accommodated by the pool of slack labor in the traditional sector.

Those favorable environments were impaired from the 1920s, especially in the 1930s. Without a stable international financial market, the macroeconomic stability of a national economy had to be sustained by individual states. Such an international condition instead exacerbated the difficulty of managing society as the labor market became tighter and the growing modern sector absorbed slack labor in rural regions. In the end, Japan chose a state-coordinated market economy after the experiment of a command economy during the Second World War.

Then, from the 1980s, the economy gradually returned to the standard, rule-based market economy. The course is to overview institutional changes in the Japanese economy from the 1920s to the 2000s and to understand how institutional and organizational factors work in a changing society.

The current shape of the Japanese economy would be better understood by placing the structural reform in the last three decades in a broader context from the 1920s. This is our goal.