INTERNATIONAL POLITICAL ECONOMY MOD. 2

1. Knowledge and understanding
1.1 Understand and recognize the different concepts underlying the economy
1.2 Understand how public policies can influence trade
1.3 Understanding the role of financial markets and globalization
1.4 Understanding and recognizing international strategies

2. Ability to apply knowledge and understanding
2.1 Identify the determinants of supply and demand to interpret trade flows
2.2 Analyze public policies
2.3 Recognize any distortive effects of international strategies

3. Judgment capacity
3.1 interpret the functioning of the economy at the international level
3.2 reflect on the policies adopted and adoptable i
3.3 reflect on international strategies in relation to the impact on trade and their potential distortion
course is organized on two modules, in the list of topics covered, the first will be presented in the first module, the last in the second module.

At the end of the course the students will be able to interpret and discuss the fundamental aspects of international economic and financial relations.

the student is advised to have successfully passed the relevant exams in basic economic modules (micro-economics and macro-economics)

The course is organized on two modules, In the list of topics covered, the first will be presented in the first module, the last in the second module.

Basic concepts: Political economy, economics, major schools of economic thought (mercantilism, marginalist theory, general equilibrium analysis, Keynesianism, supply-side economics and behavioural economics)
Economic growth versus economic development
States and Markets (rationale for economic policy)
Globalisation: Bretton Woods Institutions
The Bretton Woods System
International trade and trade policy (comparative advantage versus competitive advantage; trade liberalisation policies)
Financial markets and financial liberalisation (foreign direct investment and portfolio investment)
Industrial development strategies: import substitution, export-led growth, inward investment and other industrial upgrading strategies
International experiences of industrial development: the USA; East-Asia (Japan, South Korea, China); selected African countries

Casson Mark (2018) The Multinational Enterprise – Theory and History, Edward Elgar (Parts I, IV and V)
Chang H. J (1996) The political economy of industrial policy, Palgrave Mac Millan (Chapter 1).
Kakwani Nanak and Hyun Hwa Son (eds) (2018) Economic Growth and Poverty, Edward Elgar.
O’Brien R., and M. Williams (2016) Global Political Economy, Palgrave Mac Millan (5th Edition) (Chapters 1-9).

The method of assessment combines a final written exam (60%) with a group essay (40%). Full guidelines on the essay will be given during the 1st lecture.

Face-to-face lectures

Italian

written