ASTK12138U Theories and Issues in International Political Economy

Volume 2013/2014
Content

This course offers an advanced introduction to the field of International Political Economy (IPE). The course divides into three inter-related parts. The first considers the history of the international economy and the various ways in which it has been ordered politically. The part of the course supplies a vital historical backdrop to contemporary debates, but it also allows for an early discussion of competing accounts of world order and the necessary and sufficient conditions for the construction and maintenance of a liberal economic order. The second part of the course examines these theoretical positions in more detail. The following are covered: liberalism (in its economic and IR variants), economic nationalism, realism and neo-realism, Marxism and varieties of critical IPE (including feminism). The third part of the course takes a thematic approach to the study of contemporary IPE. Topics covered include finance, production, trade, consumption, the environment and crises. Several recurrent themes will be woven into these discussions. This include debates about the locus and operation of power, the significance of institutions, the prospects for ‘global governance’, the role of the state under conditions of ‘globalisation’ and the importance of ideas (such as neoliberalism).

The course is structured as follows:

1. Introduction: what is IPE?

2. The world economy in the nineteenth century

3. Inter-war crisis and the establishment of the Bretton Woods system

4. The collapse of Bretton Woods and the emergence of a global economy

5. Economic nationalism and realist IPE

6. Liberalism(s)

7. Critical theories of IPE

8. Trade in the global economy

9. The political economy of production, foreign direct investment and corporate governance

10. Global finance and the world economy

11. The political economy of consumption

12. National models of capitalism and globalization

13. Debating the role of the state in IPE

14. Conclusions

Learning Outcome

The course aims to engage in the critical analysis of the main theoretical traditions in the field. These are defined broadly, not simply to incorporate work derived from International Relations scholarship of the past four decades, but also to consider the deeper intellectual legacy of political economists stretching back to the eighteenth century. At the same time the course will survey contemporary events in IPE and will aim to think them through in terms of the various theoretical perspectives on offer. The course will also consider contemporary problems of IPE – in the domains of trade, finance, production and consumption - in terms of intellectual debates about the history of global political economic orders.

On completion of the course, students should (a) be able to demonstrate familiarity with the main theoretical traditions in IPE; (b) be able to analyse one or more of these traditions in relation to specific cases; (c) be able to make informed, analytical evaluations of both different approaches to the study of IPE and their principal critics (d) be able to discuss key contemporary topics in IPE in the light of historical and theoretical consideration.

What can the course be used for?
The course provides a solid overview of the field of IPE and can be used as a stepping stone to further study in the form of more specialized courses or master dissertations. The substantive content of the course will be of interest to students wishing to pursue careers in national and international public administration, think tanks, NGOs and the media.

The following is an indicative list of core readings. A detailed list of core and required readings will be provided at the start of the course.

Abdelal, Rawi, Blyth, Mark and Parsons, Craig Constructing the International Economy, Cornell University Press, 2010.

Blyth, Mark Handbook of International Political Economy, Routledge, 2009.

Crane, George T. and Amawi, Abla (eds) (1997) The Theoretical Evolution of International Political Economy, second edition, Oxford: Oxford University Press.

Crouch, Colin The Strange Non-Death of Neoliberalism, Polity Press, 2011.

Hall, P. and Soskice, D. (eds) Varieties of Capitalism, Oxford University Press, 2001.

Krippner, G.R. ‘The Financialization of the American Economy’, Socio-Economic Review 3, 2005.

O’Brien, Robert and Williams, Marc Global Political Economy, 3rd edition, Palgrave Macmillan 2010.

Polanyi, Karl The Great Transformation, Beacon Press 2002 (Originally published 1944).

Ravenhill, John (ed.) Global Political Economy, 3rd edition, Oxford University Press, 2010.

Strange, Susan States and Markets, Continuum, 1994.

Veblen, T The Theory of the Leisure Class, Unwin 1970 [1899].

Watson, Matthew Foundations of International Political Economy, Palgrave, 2005.

Core readings will draw heavily upon the following journals: Global Governance, International Organization, International Studies Quarterly, New Political Economy, Review of International Political Economy, Review of International Studies, Socio-Economic Review.
BA in political science/IR (exceptions tolerated).
Lectures, seminar discussions, small group exercises
  • Category
  • Hours
  • Class Instruction
  • 28
  • Exam
  • 79
  • Preparation
  • 168
  • Total
  • 275
Credit
10 ECTS
Type of assessment
Oral examination
An oral exam based on a synopsis written by the student
Marking scale
7-point grading scale
Censorship form
External censorship
Criteria for exam assesment
  • Grade 12 is given for excellent performance, and full or almost full mastery of the content of the course materials and the literature and an excellent ability to discuss, analytically and with critical insight, theories and issues in IPE
     
  • Grade 7 is given for good performance, and good understanding of the content of the course materials and literature and a good ability to discuss, with a solid degree of analysis and critique, theories and issues in IPE
     
  • Grade 02 is given for sufficient performance, and understanding of the content of the course material and literature and some ability to discuss theories and issues in IPE