The course analyzes the main factors that explain Latin America’s economic underdevelopment, including the rapid accumulation of public debt, under-investment in infrastructure, macroeconomic volatility, frequent financial crises, and economic populism. It reviews actions taken by Latin American authorities to tackle these problems, including debt restructuring, macroeconomic stabilization, investment liberalization and regional integration. It assesses progress made in the region in the last two decades and the possible paths for development. Case studies include the design and impact of IMF programs on Latin American countries, foreign investors’ strategies in the region, and countries’ reactions to the recent international financial crisis. (Cross listed Western Hemisphere Studies/International Development)