2022/2023
World Economy and International Economic Relations
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Type:
Optional course (university)
Delivered by:
Department of Trade Policy
When:
2 module
Open to:
everyone
Language:
English
ECTS credits:
3
Contact hours:
60
Course Syllabus
Abstract
Introduction to the World Economy is a one-module elective course offered to the third-year students of all specializations. The course purports to introduce the students to the most topical issues of the global economy, including inequality, migration, trade wars, and climate change. We start by reviewing the factors behind the historical development of capitalist economies and their amalgamation into one and seek to link these factors to the key theories in the field. In the course of our subsequent discussion, we come to explore and assess the different policies addressing the challenges world economy faces, including hunger, pension crisis, poverty, and others, their societal and political implications, as well as idiosyncrasies of these challenges in specific parts of the world.
Learning Objectives
- Provide a thorough treatment of economic globalization, surveying different approaches as to its age, drivers, and outcomes;
- Introduce the students to the most topical issues of the global economy, tracing each of them back to their historical roots;
- Discuss the conventional, as well as alternative, theoretical explanations of inequality, migration, trade wars, and climate change;
- Assess different cases of tackling these problems by national governments and international organizations.
Expected Learning Outcomes
- Analyze the links between trade, economic growth, and globalization with particular reference to developing countries’ cases;
- Apply the framework of sustainable development to analyzing current global economic problems.
- Critically comment on specific policy issues such as protectionism, gentrification, universal basic income, immigration controls, &c.;
- Understand the economic implications of globalizing capitalism for individuals, industries, cities, and nations;
Course Contents
- Introductory lecture. Short history of globalization. Fourth Industrial Revolution & sustainable development
- Demographic challenges. Malthusian limits to growth. Pension crisis. Global healthcare
- Food supply and the end of hunger
- Migration & Urbanization
- Poverty & inequality
- Trade III: Economic imbalances & trade wars
- Climate change
Bibliography
Recommended Core Bibliography
- Borjas George J. and Chiswick Barry R. Foundations of Migration Economics [Book] / ed. Elsner Benjamin. - Oxford : Oxford University Press, 2019.
- Daron Acemoglu, & Pascual Restrepo. (2017). Secular Stagnation? The Effect of Aging on Economic Growth in the Age of Automation. American Economic Review, (5), 174. https://doi.org/10.1257/aer.p20171101
- International economics : theory and policy, Krugman, P. R., 2015
- Katerina Lisenkova, Marcel Mérette, & Miguel Sánchez-MartÃnez. (2014). The Long-Term Economic Impact of Reducing Migration in the UK. National Institute Economic Review, (1), 22. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.sae.niesru.v229y2014i1pr22.r30
- Mathias Czaika, & Hein Haas. (2014). The Globalization of Migration: Has the World Become More Migratory? International Migration Review, (2), 283. https://doi.org/10.1111/imre.2014.48.issue-2
- Michael Bordo, & Robert N McCauley. (2017). Triffin: dilemma or myth? BIS Working Papers. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.bis.biswps.684
- See-Yan Lin Global Economy In Turbulent Times [Book]. - Singapore : John Wiley & Sons, 2015.
Recommended Additional Bibliography
- Cheshire Paul C., Nathan Max and Overman Henry G. Urban Economics and Urban Policy: Challenging Conventional Policy Wisdom [Book]. - Cheltenham : Edward Elgar Publishing, 2014.
- Daron Acemoglu, James A. Robinson, & Thierry Verdier. (2017). Asymmetric Growth and Institutions in an Interdependent World. Journal of Political Economy, (5), 1245. https://doi.org/10.1086/693038
- Pollin Robert Greening the Global Economy [Book]. - Cambridge, MA : MIT Press, 2015.