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GBU 201-001 • CRN 20319 • T,R 1230 to 1345 • Combs 213
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MKT309 • MKT401 • GBU201

Chapter 4 Economic Systems and Development
Opening case - Royal Dutch Shell
Global energy company in 145 countries
How did the company begin? Read The History of Shell
What evidence of entreprenurialism (individualism)?
What evidence of central control (monarchial)?

Economic Systems
Systems have a tendency toward:
Individualism ------------------------------------------ Collectivism
Pure market economy -------------------------------- Pure centrally planned economy
China - paradoxes
Mixed economy - some sectors private, some sectors public
Market economy - government still has an important role

Economic Development
Classifying countries by level of economic development
Measures of national productivity:
... GNP, GDP, GDP per cap, PPP, HDI, Big Mac Index - The Hamburger Standard

Economic Transition
Subsistence agrarian
Surplus
Simple manufacturing
Complex manufacturing
Services
Information/Knowledge
Obstacles to transition