2026 (Current Year) Faculty Courses Liberal arts and basic science courses Humanities and social science courses
Essence of Humanities and Social Sciences7:Economics
- Academic unit or major
- Humanities and social science courses
- Instructor(s)
- Kengo Kogure
- Class Format
- Lecture (Face-to-face)
- Media-enhanced courses
- -
- Day of week/Period
(Classrooms) - 7-8 Wed (M-124)
- Class
- -
- Course Code
- LAH.S407
- Number of credits
- 100
- Course offered
- 2026
- Offered quarter
- 1Q
- Syllabus updated
- Mar 5, 2026
- Language
- Japanese
Syllabus
Course overview and goals
This course examines the fundamental characteristics of a capitalist economy. The first half explains the mechanisms of growth, business cycles, and market-based distribution within a capitalist economy using basic economic theory. The latter half will build upon this theoretical framework to examine major phases experienced by the Japanese economy—such as bubble formation and collapse, the long-term recession, the Lehman Shock, and Abenomics—analyzing them based on statistical data. By linking theoretical understanding with empirical analysis, we will conduct a multifaceted examination of the dynamics of the modern Japanese economy.
The aim of this course is to systematically learn the fundamental characteristics and principles of a capitalist economy. This provides the foundational knowledge and academic perspective necessary to understand and examine the various problems facing the modern economy, such as recession, unemployment, inequality, fiscal deficits, and an aging population with low birth rates. The course aims to cultivate the ability to structurally grasp economic phenomena while being conscious of the relationship between theory and reality.
Course description and aims
1) Be able to explain economic phenomena using basic economic concepts and terminology.
2) Be able to explain the mechanisms of growth, distribution, and circulation in a capitalist economy based on theoretical frameworks.
3) Be able to interpret recent trends and characteristics of the Japanese economy using statistical data and organize key points.
4) Be able to logically articulate one's own views on the nature of macroeconomic policy, considering the challenges facing the modern Japanese economy.
Keywords
Capitalist economy, Business cycle, Economic growth, Japanese economy, Economic policy
Competencies
- Specialist skills
- Intercultural skills
- Communication skills
- Critical thinking skills
- Practical and/or problem-solving skills
Class flow
The lecture will be conducted using slides and handouts. Students are required to submit a comment paper for each class, and questions or comments will be addressed at the beginning of the following class. Some video materials will also be used. Depending on the number of participants and their level of understanding, active learning methods such as group work may be introduced. Details of the assignment will be announced during the first lecture.
The textbook will be used for report assignments.
Course schedule/Objectives
| Course schedule | Objectives | |
|---|---|---|
| Class 1 | Introduction (Course description, class flow, assessment methods, etc.; “What is Economics(Political Economy)?”) |
Understand the tutorial of the course and gain an overview of economics(Political Economy) as a whole. |
| Class 2 | Capitalist System Movement 1: Fundamentals |
Explain the long-term average movement of the capitalist system and the limits of growth. |
| Class 3 | Capitalist System Movement 2: Development |
Explain short-term cyclical movements (boom and bust) and the independence of investment. |
| Class 4 | Market Mechanisms and Business Cycles |
Explain the price mechanism and control of the economy. |
| Class 5 | Japanese Economy 1: 1984–1993 and 1994–2001 |
Explains the Japanese economy during the periods 1984-1993 (yen appreciation recession, bubble formation and collapse) and 1994-2001 (long-term recession, Hashimoto reforms, fiscal deficit). |
| Class 6 | Japanese Economy 2: 2002–2011 and 2012–Present |
Explains the Japanese economy from 2002-2011 (a recovery without tangible benefits, Koizumi reforms, the Lehman Shock) to 2012-present (Abenomics, the COVID-19 shock). |
| Class 7 | Final examination and summary (“Learning Political Economy”) |
Take the final examination and re-evaluate contemporary socio-economic issues from new perspectives gained in the course. |
Study advice (preparation and review)
To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to textbooks and other course material.
Textbook(s)
Kei Ehara. (2025). Shihonshugi ha naze genkai nanoka: datsuseicho no keizaigaku [Why Capitalism Has Reached Its Limits: The Economics of Degrowth]. Tokyo: Chikuma Shobo. ISBN 9784480077141
＊The textbook will be used for report assignments.
Reference books, course materials, etc.
TBA
Evaluation methods and criteria
Comment papers (10%), short report assignments (20%), final examination (70%).
Related courses
- LAH.S109 ： Economics A
- LAH.S209 ： Economics B
- LAH.S310 ： Economics C
Prerequisites
High-level Japanese literacy
Other
No class will be held on April 8 (Wed).
A total of seven classes will be held for this course: April 15 (Wed), April 22 (Wed), May 13 (Wed), May 20 (Wed), May 27 (Wed), June 3 (Wed), and June 5 (Fri)*.
*Please note that the final class is on a Friday.