Syllabi & Bibliographies

Internet Resources



Department of Economics

University of the South Pacific






Semester 1, 2005 Lecturer: T. K. Jayaraman


Lectures: Mon: 8 am - 9 am: 014 - 025

Wed: 8 am - 9 am: 014 - 025

Fri: 8 am - 9 am: 014 - 025


Tutorials: Mon: 9 am - 10 am: 014 - 027

Wed: 9 am - 10 am: 014 - 027

Fri : 9 am - 10 am: 014 - 027


Consultation Hours: CELT Building Room 204

Mon: 10 am to 11 am

Wed: 10 am to 11 am

1. Course Objectives


The course, which covers all the 14 member Pacific island countries (PICs) of the Pacific Forum, focuses on various issues relating to their economic conditions and institutional features. Utilizing the findings of recent social and economic surveys by various international organisations including the United Nations Economic Social and Economic Commission for Asia and the Pacific, Bangkok, the course will discuss growth potential and constraints faced by the PICs. Strategic objectives and various policy options will be explored and analysed. The course also seeks to examine the causes behind lower growth in PICs as compared to growth in the Caribbean and Indian Ocean Island countries.


Towards the end, students are expected to have developed a broad vision of the economic future of PICs and how this future could be improved. The course will also examine the special circumstances of the least developed countries in the region, which are exposed to environmental risks arising from global warming. The role of external aid and its performance will also be assessed in this regard.


The course would also explore eventual economic integration of the islands in the context of the ongoing globalization. Specifically, it will examine the opportunities presented to them in terms of the Pacific Island Countries Trade Agreement (PICTA) and the prospects of a Pacific Union on the lines of the European Economic Union with a common currency and free mobility of capital and labour.



2. Studies and Reports


The course is highly reading oriented. There is no specific textbook for the course. Students have to review important studies and reports of the World Bank and Asian Development Bank and other international agencies as well as regional agencies, including the Pacific Forum. Students are also expected to go through additional reading material, which are published from time to time in periodicals. These documents and studies are on-hold in the Pacific Collection, First Floor, USP Library, Laucala Campus. These materials under current regulations are non-borrowable and are expected to be read only in the library. A list of studies, reports and articles will be made available on the Class Share.


A list of any additional reading material, which is now part of growing literature, will be distributed from time to time. Students are also urged to keep abreast of regional developments by periodically accessing the websites given below in section 4.




Following important studies are in Pacific Collection, First Floor, USP Library.



(i) R. Cole and S. Tambunlertchai (eds.), 1993. The Future of Asia Pacific: Pacific Islands at the Crossroads, The National Centre for Development Studies, Canberra: Australian National University.


(ii) T. Fairbairn and D. Worrell, 1996, South Pacific and Caribbean Island Economies: Comparative Study, Brisbane: The Foundation for Development Cooperation.


(iii)             Commonwealth Secretariat/World Bank, 2001. Small States: Meeting Challenges in the Global Economy, Report of the Joint Task Force on Small States, London: Commonwealth Secretariat.


(iv)              World Bank, 2002. Pacific Islands - Embarking on a Global Voyage: Trade Liberalization, Washington DC: World Bank.


(v)                Commonwealth Secretariat, 2004.Competitiveness Strategies for Small States, London: Commonwealth Secretariat.


(vi)              Commonwealth Secretariat, 2005. Vulnerability of Small and Island States, London: Commonwealth Secretariat



3. Other publications for consultation


(i) The World Bank, 2000, Pacific Regional Strategy, Washington, D.C.


(ii) World Bank, 1995, Pacific Island Economies: Building a Resilient Economic Base for the Twenty-first Century.


(iii) World Bank, 1991. Pacific Island Economies: Towards Higher Growth in Lessons from the 1980s.

(iv) Asian Development Bank (ADB), 1996, Sociocultural Issues and Economic Development in the Pacific Islands, Pacific Studies Series, ADB, Manila.


(v) World Bank, 1998. Enhancing the Role of Government in Pacific Island Economies.


(vi) ADB, 1999. Reforms in the Pacific.


(vii) AusAid, 2001. Pacific: Program Profiles: 2000/2001, AusAID, Canberra.


(viii) Economic Intelligence Unit, The Economist, London: Country Profiles on Fiji and other Pacific Island Countries.


(ix) UN Economic Commission for Asia and the Pacific, 2003. Economic and Social Survey of Asia and the Pacific 2003.


(These are also on-hold in the Pacific Collection, USP Library)



4. Websites for news sources / latest reports / updates on PICs






Topic 1 Sociocultural Issues

Topic 2 An Overview of Growth Potential & Constraints

Topic 3 Pacific Islands in the International Economy

Topic 4 External Aid and Pacific Islands

Topic 5 Migration, Remittances and Growth

Topic 6 External Debt

Topic 7 Macroeconomic Management

Topic 8 Policy and Sector Reforms

Topic 9 Private Sector Development

Topic 10 Environmental Concerns and east Developed Countries

Topic 11 New Growth Areas

Topic 12 Future Directions in A Globalised World

Topic 13 Free Trade : PICTA and PACER

Topic 14 Beyond PICTA: Pacific Union?





Titles of Lectures   Week
1.      Sociocultural issues   Feb 7-11
2.      An Overview of Growth Potential & Constraints   Feb 14-18
3.      Pacific Islands in the International Economy   Feb 21-25
4.      External Aid and Pacific Islands   Feb 28-Mar 4
5.      Trade, Remittances and Growth   Mar 7-11
6.      External Debt   Mar 14-18
7.      Macroeconomic Management   Mar 21-25
Mid semester Break
Mar 26 Apr 3
8.      Policy and Sector Reforms   Apr 4-8
9.      Environmental Concerns & Least Developed Countries   Apr 11-15
10.    Private Sector Development   Apr 18-22
11.    New Areas of Growth   Apr 25-29
12.    Future Directions in A Globalised World:   May 2-6
13. Free Trade: PICTA and PACER   May 9-13
14. Beyond PICTA: A Pacific Union?   May 16-20




I.Course Assessment: 40%


(i)One Mid-Semester Test 20%

(One hour duration; essay type)


Date of test: March 23, 2005

(ii) Project Report with Class Presentation 20%

(Week beginning: April 11, 2005)


II. Final examination: 60%

(Date to be announced)


Total: 100%

8. Letter grade scale


The letter grade scale used by the Economics Department is as follows:


A+ 80% and above C+ 60 - 64%

A 75 - 79% C 50 - 59%

B+ 70 - 74% D 40 - 49%

B 65 - 69% E Less than 40%

Upload: 1/31/2004


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