Pol's of Global Econ

Rose-Hulman Institute of Technology

Politics of the Global Economy

GS 361

Professor TERRENCE CASEY	OFFICE: Moench A 209
PHONE: 877-8281	RHIT Mailbox: #93
E-Mail: casey1@rose-hulman.edu	HOURS: MTRF, 3rd Hour or drop-in.

The purpose of this course is to introduce you the key theoretical approaches and substantive issues of the politics of the global economy. After examining the core theories and concepts of the international political economy (IPE), we will review recent major trends, with a particular emphasis on globalization and the international financial crisis. The subject matter inherently draws attention to the intersection of politics (states) and economics (markets). The overarching focus is thus on how political choices made by state actors alter economic outcomes and, alternately, how the operation of international markets shapes the options available to political leaders.

COURSE REQUIREMENTS: Your grade for the course will be based on the following --

(A) THREE EXAMS (70% total). The exams will be on Friday December 18^th and Friday January 28^th (20% each) and a final exam (30%). Exams will include a mix of objective and analytical questions, including essays, drawn from both the readings and the lectures. The format for the final will be similar to the other two exams, but also include comprehensive essay questions.

(B) DEBATES PAPER (10%). At various points in the course we will be discussing the chapters in Thomas Oatley, Debates in International Political Economy. Your job in the paper is to explore the respective sides of one of these debates and make a persuasive argument of your own, which may or may not correspond with the arguments presented in the text. You may choose any topic in Debates in International Political Economy, whether we discuss it in class or not. In order to make your argument persuasive, you need to provide appropriate factual evidence to support your claims. (NOTE: You may not, under any circumstances, cite Wikipedia!) All papers are due not later than Monday, January 18th (start of 6th Week).

(C) BOOK REVIEW (20%). In order to give you a more in-depth look at the issues of globalization and the current international economic situation, you are required to read and review one of the following books

Andrew Gamble, The Spectre at the Feast: Capitalist Crisis and the Politics of Recession, Palgrave Macmillan, 2009.

Jeffrey Frieden, Global Capitalism: Its Fall and Rise in the Twentieth Century, WW Norton & Co., 2007.

Harold James, The Creation and Destruction of Value: The Globalization Cycle, Harvard University Press, 2009.

All three are available on Amazon.com and other online booksellers and are relatively inexpensive. You should order you book immediately and you are strongly advised to have it read by the time we return from the winter break. Details of the review assignment will be handed out separately. The paper will be due on Monday, February 8^th (start of 9^th Week).

Professor Casey's Homepage (including links for current events and research)

PDF of the Course Syllabus

Key Dates

First Exam	Friday, December 18^th
Debates Paper Due	Monday, January 18^th
Second Exam	Friday, January 28^th
Book Review Due	Monday, February 8^th
Final Exam	Date and Time TBA

Links to the PowerPoint slides for the lectures and assignments will be added as the course progresses.

Other readings listed can be downloaded in PDF from the Logan Library's Academic Search Premier Database. This is available on the drop-down menu of databases on the library's main page. Please note that it is usually easiest to find the article if you search by both author and title.

TOPICS	READINGS
PART I: THEORETICAL APPROACHES AND CONCEPTS
A. What is International Political Economy (IPE)?	Balaam and Veseth, Chapter 1 Thomas Friedman, “India v. Indiana: Who is Exploiting Whom?” from The World Is Flat, pp. 203-208. [Handout]
B. Theoretical Approaches
1. Liberalism	Balaam and Veseth, Chapter 3 and pp. 82-89 (on rational choice)
2. Mercantilism	Balaam and Veseth, Chapter 2 Oatley, Chapter 11
3. Structuralism	Balaam and Veseth, Chapter 4
C. Concepts
1. Trade and the Balance of Payments	Balaam and Veseth, Chapter 6 Oatley, Chapter 1
2. International Monetary System	Balaam and Veseth, Chapter 7 Oatley, Chapter 9 C. Fred Bergsten, “The Dollar and the Deficits,” Foreign Affairs, November/December 2009 [Library]
3. Foreign Debt and Financial Crises	Balaam and Veseth, Chapter 8 Niall Ferguson -- The Ascent of Money (Video)
4. Transnational Corporations and International Investment	Balaam and Veseth, Chapter 17 Oatley, Chapters 6 and 7
5. Knowledge and Technology	Balaam and Veseth, Chapter 10

PART II: GLOBALIZATION AND THE INTERNATIONAL FINANCIAL CRISIS
A. The Origins of Globalization	Robert O’Brian and Marc Williams, Global Political Economy, 2nd Ed, Chapters 2-4 [Handout] The Commanding Heights, Part I: “The Battle of Ideas (Video)
B. Globalization Explained	Andrew McGrew, “The Logics of Globalization,” in John Ravenhill, Global Political Economy, 2nd Ed. [Handout] “The Globalization Index,” Foreign Policy, November/December 2007 [Library] Pankaj Ghemawat, “Why the World Isn’t Flat,” Foreign Policy, March/April 2007 [Library]
C. The Future of Globalization	Moises Naim, “Think Again – Globalization,” Foreign Policy, March/April 2009 [Library] Special Report on the Global Economy, The Economist, October 3rd, 2009 [Handout] Roger C. Altman, “Globalization in Retreat,” Foreign Affairs, July/August 2009 [Library] Oatley, Chapter 16

PART III: COMPETING CAPITALISMS IN THE GLOBAL ECONOMY
A. The Study of Comparative Capitalisms	Terrence Casey, “Mapping Stability and Change in Advanced Capitalisms,” Comparative European Politics, July 2009 [Handout] Ian Bremmer, “State Capitalism Comes of Age,” Foreign Affairs, May/June 2009 [Library]
B. Europe and the Political Economy of Regionalism	Balaam and Veseth, Chapter 11 Clive Crook, “Think Again – Europe,” Foreign Policy, July/August 2007 [Library]
C. Japan – The Lost Decade and Beyond	Balaam and Veseth, Chapter 12 Richard Katz, “The Japan Fallacy,” Foreign Affairs, March/April 2009 [Library]
D. China – The New Economic Superpower?	Harry Harding, “Think Again – China,” Foreign Policy, March/April 2007 [Library] Minxin Pei, “Think Again – Asia’s Rise,” Foreign Policy, July/August 2009 [Library]
E. India – High-Tech Hub or the “Hindu Rate of Growth”?	Yasheng Huang, “The Next Asian Miracle,” Foreign Policy, July/August 2008 [Library]
F. The Transition from Communism to Capitalism	Balaam and Veseth, Chapter 13
G. Economic and Political Development in the Middle East	Balaam and Veseth, Chapter 14
H. Third World Development and the ‘North-South Gap’	Balaam and Veseth, Chapter 15 Oatley, Chapter 12 Hernando de Soto -- The Power of the Poor (Video)

PART IV: KEY ISSUES FOR THE FUTURE
A. America and the Global Economic Future	Balaam and Veseth, Chapter 21 Oatley, Chapter 3 Anne-Marie Slaughter, “America’s Edge: Power in the Networked Century,” Foreign Affairs, January/February 2009 [Library]

B. Markets and the Environment	Balaam and Veseth, Chapter 20 Carl Pope and Bjørn Lomborg, “The State of Nature,” Foreign Policy (July/August) 2005. [Handout]
C. Markets and Security	Balaam and Veseth, Chapter 9