This course explores the origins, processes, and consequences of economic change in China since 1978. It focuses on China's transformation from a closed and state-controlled economy to a market-oriented, increasingly internationalized, and predominantly private economy. It begins with an overview of the Maoist economic system since the communist revolution in 1949. It then examines how the rules governing economic activities have been redefined in major economic sectors since 1978. It also highlights the main features of the new, capitalistic economy and reflects on the issues and challenges that have emerged during the transformation of the economy.