This course will discuss the theories and practices of alternative economics systems. We will start with the early debates about Socialism, and then move on to study the actual historical practice of socialism, with a focus on evaluating the performance of the Soviet system first. Then we study the features of market socialism practiced in China and self-management practiced in Yugoslavia. We will then discuss the reasons for the demise of the soviet economy, from both the mainstream point of view and the alternative explanations. We conclude by discussing some new theories of socialism, specifically the debate between market socialism and participatory planning, and evaluate their feasibility in the 21st century.