ASTK15408U  COURSE: Globalization and economic policy

Volume 2015/2016
Education

Bachelorlevel: 10 ECTS


Masterlevel: 7,5 ECTS

Content

Globalization has been a broadly used concept. Despite disputes over its different meanings, in our current era or phase of globalization together with a multi-polar system of international politics, the idea of globalization addresses a significant rise of world-wide or global awareness. In other words, current globalization stimulates to think that the different more or less national societies composing the world have increasingly similar challenges and problems, and therefore, face an increasing need of coordinated solutions and collaboration. Socio-political institutions are argued to be critical instruments to shape economic globalization and to make globalization process more beneficial for more people and societies.

Economic Policy is one the most relevant policies for the modern nation-states. The search of socio-economic prosperity is highly dependent on policy and regulatory decisions, which are still an important task and responsibility of national governments. This is, however, a difficult task, given the uncertainties and challenges of world’s current stage of historical development, characterized by growing economic and trade internationalization and expanding neo-liberal economics and economic rationale. Particularly, Europe and the European Union face an additional challenge, if its socially-oriented capitalist model is to be maintained or updated.

The economic and financial-fiscal crisis initiated in 2008 in the North-Atlantic Western region has stimulated a substantial rethinking about the role and the importance of economic policies, in an increasing multi-polar international system.

 

The course deploys a broad range of empirical and critical sociological and institutional approaches and analyses in order to understand the complex economic policy processes in the current neo-liberal globalization.

1. Course presentation and introduction

2.Introduction

 

Part I. Globalization

3. Debate and theories of globalization

4. Economic globalization: Multi-National Corporations, financialization, varieties of dominant capitalism, etc. 

5. Social and cultural globalization and the neo-liberal thought.

6. Political and policy globalization: nation-states and policy diffusion

7. Summing-up on generic and economic globalization.

 

Part II. Economic Policy in the global age.

8. Economic issues and challenges at the beginning of the 21st. century capitalism.

9. Economics: the social science of markets and economic policy

10. Technocracy and economic policy processes

11. Contemporary capitalism, current economic crisis and economic policy in the EU

12. Summing-up on economic policy

13. Summing-up on globalization and economic policy I

14. Summing-up on globalization and economic policy II

Competency desciption

This course will enable students to participate in debates and discussions about narrow and broad economic policies, both at national and international level. The course is relevant to students who aim for a career in international organisations

Learning Outcome

The objective of the course is to enable students to:

 

  • Understand the main theories and conceptualizations of globalization, with focus on economic aspects.
  • Comprehend the main sociological and institutionalist approaches to policy, with focus on economic policy.
  • Apply theories and conceptualizations of globalization and policy analysis to economic policy.
  • Reflect meta-theoretically on the strengths and weaknesses of the theories and arguments.

Some general reference books:

 

Beck, Ulrich (2005) Power in the global age. Polity Press.

Centeno, Miguel A. and Cohen, Joseph N. (2010) Global Capitalism. Polity Press.

Crouch, C. (2011). The strange non-death of neo-liberalism. Polity Press.

Rodrik, Dani (2011) The globalization paradox: why global markets, states, and democracy can't coexist.  

      Oxford University Press.

 

 

1. Course presentation and introduction

Tonkiss, Fran (2006) Contemporary Economic Sociology. London: Routledge. (Chapter 1. Capitalism and globalization: pp. 3-28). 25 pages.

 

2. Introduction

 

Guillén, M. F. (2001). Is globalization civilizing, destructive or feeble? A critique of five key debates in the social science literature. Annual review of sociology, 235-260. 25 pages.

 

Rodrik, D. (2011) The globalization paradox: why global markets, states, and democracy can't coexist. Oxford University Press. (Chapter 9. The political trilemma of the world economy. Pp. 184-206). 22 pages.

 

 

Part I. Globalization

 

3. Debate and theories of globalization.

 

Axford, B. (2013). Theories of globalization. Polity. Chapter 1. 6-36, Chapter 2. 36-59 and Chapter 9. 177-191. 66 pages.

 

Hirst, P., Thompson, G., & Bromley, S. (2015). Globalization in question. 3rd. edition. John Wiley & Sons. Chapter 1. The contours of globalization. 10 pages

 

Appelbaum, R. P., & Robinson, W. I. (2005). Critical globalization studies. Psychology Press. Chapters 2 and 3. 18 pages)

 

 

4. Economic globalization: Multi-National Corporations, financialization, varieties of dominant capitalism, etc. 

 

Beck, Ulrich (2005) Power in the global age. Polity Press. Chapter 4. Power and counter-power in the global age: The strategies of capital. Pp. 116-165. 49 pages

 

Scott, J. (2012) Capital mobilization, transnational structures and capitalist classes (pp. 1-25) in Murray, G., & Scott, J. (Eds.). (2012). Financial Elites and Transnational Business: Who Rules the World?. Edward Elgar Publishing. 24 pages

Centeno, Miguel A. and Cohen, Joseph N. (2010) Global Capitalism. Polity Press. (Chapter 1: Global Capitalism, 11-37, and Chapter 3: Finance and Wealth pp. 64-93). 55 pages

 

5. Social and cultural globalization and the neo-liberal thought

 

Meyer, J.W. Boli, J. Thomas, G.M. and Ramirez, F. O. (1997) World Society and the nation-state. American Journal of Sociology 103 (1), 144-181. 37 pages.

 

Meyer, J. W. (2007). Globalization theory and trends. International Journal of Comparative Sociology48(4), 261-273. 13 pages.

 

Harvey, D. (2007). Neoliberalism as creative destruction. The Annals of the American Academy of Political and Social Science610(1), 21-44. 23 pages.

 

Crouch, C. (2011). The strange non-death of neo-liberalism. Polity Press. Chapter 8. What is left of what is right. 162-181. 19 pages

 

 

6. Political and Policy globalization: nation-states and policy diffusion.

 

Gillardi, F. (2012) Transnational diffusion: norms, ideas and policies. Handbook of International Relations, 2, 453-476. 23 pages.

 

Simmons, B. A., & Elkins, Z. (2004). The globalization of liberalization: Policy diffusion in the international political economy. American political science review98(01), 171-189. 18 pages

 

Simmons, B. A., Dobbin, F., & Garrett, G. (2007). The global diffusion of public policies: Social construction, coercion, competition or learning?. Annual review of sociology, 33, 449-472. 23 pages.

 

 

7. Summing-up on generic and economic globalization.

 

Held, D., & McGrew, A. (2007). Globalization/​anti-globalization: Beyond the great divide. Polity. Selected chapters: 30 pages.

 

Evans, P. (2012). Counter-Hegemonic Globalization. The Wiley-Blackwell Encyclopedia of Globalization. 20 pages.

 

 

 

Part II. Economic Policy in the global age.

 

8. Economic issues and challenges at the beginning of the 21st. century: crisis, global economy, inequality, etc.

 

Piketty, T. (2014). About Capital in the 21st Century. Cambridge: Harvard University Press. 15 pages.

 

Rodrik, Dani (2012) In Search of Prosperity, Analytic Narratives on Economic Growth. Princeton: Princeton University Press. Chapter 1. 20 pages.

 

Stiglitz, J. E. (2014). Crises: Principles and Policies. Life After Debt: The Origins and Resolutions of Debt Crisis, Palgrave Macmillan. Chapter 1.1. 43 pages.

 

9. Economics: the social science of markets and economic policy

 

Fourcade, Marion (2006). The Construction of a Global Profession: The Transnationalization of Economics. American Journal of Sociology 112.1: 145-194. 49 pages

 

Dani Rodrik, 2014. " When Ideas Trump Interests: Preferences, Worldviews, and Policy Innovations," Journal of Economic Perspectives, 28(1), 189-208. 19 pages.

Caplan, B. (2011). The myth of the rational voter: Why democracies choose bad policies. Princeton University Press. Excerpt. 26 pages

 

10. Technocracy and Economic Policy Processes

 

Simmons, B. A., & Elkins, Z. (2004). The globalization of liberalization: Policy diffusion in the international political economy. American political science review98(01), 171-189. 18 pages

 

Hallerberg, M., & Wehner, J. (2013). The technical competences of economic policy-makers in developed democracies. Available at SSRN 2191490. 42 pages.

 

Engelen, E., Ertürk, I., Froud, J., Johal, S., Leaver, A., Moran, M., & Williams, K. (2012). Misrule of experts? The financial crisis as elite debacle. Economy and Society41(3), 360-382. 22 pages

 

 

11. Contemporary capitalism, economic policy and the current economic crisis; focus on EU  

 

Streeck, W. (2014). The politics of public debt: Neoliberalism, capitalist development and the restructuring of the state. German Economic Review,15(1), 143-165. 22 pages

Joseph E. Stiglitz , Jean-Paul Fitoussi , Peter Bofinger , Gøsta Esping-Andersen , James K. Galbraith , Ilene Grabel (2014) A Call for Policy Change in Europe, Challenge, 57 (4), 5-17. 12 pages.

12. Summing-up on economic policy

 

Rodrik, Dani (2011) The globalization paradox: why global markets, states, and democracy can't coexist. Oxford University Press. Chapters 10, 11 and 12. Pp. 207-250. 43 pages.

 

Akerlof, G. A., Blanchard, O. J., Romer, D., & Stiglitz, J. E. (2014). What Have We Learned?: Macroeconomic Policy After the Crisis. MIT Press. Conclusions, 317-348. 31 pages

 

 

13. Summing-up on globalization and economic policy I

 

Stiglitz, J. E. (2007). Making globalization work. WW Norton & Company. Chapter 1. Another world is possible (2-25), and Chapter 10. Democratizing globalization (269-293). 27 pages

 

 

14. Summing-up on globalization and economic policy II

 

Streeck, W. (2011). Taking capitalism seriously: towards an institutionalist approach to contemporary political economy. Socio-Economic Review, 9 (1), 137-167. 30 pages.

Knowledge on social and political-policy theories at BA level is an advantage.
The classes will consist of a combination of short lecturing, seminar discussions and debates, student presentations, group-work, and if possible, talks by guest lecturers.
Credit
7,5 ECTS
Type of assessment
Oral examination
Oral
Marking scale
7-point grading scale
Censorship form
External censorship
Criteria for exam assesment
  • Grade 12 is given for an outstanding performance: the student lives up to the course's goal description in an independent and convincing manner with no or few and minor shortcomings
  • Grade 7 is given for a good performance: the student is confidently able to live up to the goal description, albeit with several shortcomings
  • Grade 02 is given for an adequate performance: the minimum acceptable performance in which the student is only able to live up to the goal description in an insecure and incomplete manner
  • Category
  • Hours
  • Class Instruction
  • 28
  • Course Preparation
  • 130
  • Preparation
  • 20
  • Exercises
  • 8
  • Exam Preparation
  • 20
  • Total
  • 206