INTERNATIONAL POLITICAL ECONOMY MOD. 1

This course is part of the "Global Studies" and "Eastern Europe Studies" program. In this first module, students will be provided with the basic tools for understanding the meaning of "Political Economy" starting from a brief overview of economic studies as they were intended by classical economist and the subsequent schools of thought. They will be provided with basic understanding of the concepts of markets, demand, supply, economic systems, market failures, government and government failures. Emphasis will be placed on the economic aspects of the processes of globalisation, internationalisation and economic development, including issues of inequality, poverty, industrialisation, structural adjustment and innovation. Also, an in depth discussion on the different theories and policies for growth and economic development will be offered to students. The course is entirely taught in English.

Students will be able to distinguish the Political Economy approach from the others that characterize the economic disciplines. They will be able to identify the most important moments of the evolution of the academic and policy debate. They will be able to apply tools of analysis to topics such as: the organization of contemporary industrial production, the globalization of markets, the relationship between industrialized and emerging economies, structural adjustment, the role of international institutions, the role and the relationship between state and market.

Students could benefit from having taken a previous exam in foundations of economics.

Basic concepts: Political economy, economics, marginalists revolution, keynesian revolution;
Recall of basic concepts: demand and supply at the micro and macro level of analysis;
The role of the state and markets (market failures and government failures);
Economic Growth versus Development;
Major schools of thought in Development Economics;
Basic concepts in trade and trade policy (comparative advantages versus competitive advantages):
The role and the international debate over Industrial development policy;
Industrial development strategies: Import substitution, export orientation and their tools;
International experiences of industrial development: Case studies (Cina/Africa/USA);

Raj Debraj (1998), Development Economics, New Jersey: Princeton University Press – chapters 6.1; 6.2; 7.1; 7.2.1; 7.2.3; 7.2.4; 7.2.7; 7.2.8; 7.2.9; 7.3; 17.2; 17.3 and Appendix;
The CORE TEAMS, The Economy, Oxford University Press;
Chang H. J. (2011), 23 Things they do not tell you about capitalism, Bloomsbury Press – Thing 1, 7, 11;
Chang H. J (1996), The political economy of industrial policy, UK: Palgrave Macmillan – Chapter 1;
Balaam David N., Dillam B. (2014), Introduction to International Political Economy, Pearson - Chapters 1, 7, 8;

A final written exam will be taken to verify that the students have acquired the necessary knowledge

Traditional front-lectures, seminars and class discussions. If current restrictions due tue the health-emergency remain lectures will also be registered and made available online. The amount of online content of the course will depend upon the evolution of the health emergency.

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Format for the online examination: The format is the one of online written exam with Safe Exam Browser and Video Conference.

This means that students will have to connect online and type the answers to the questions directly on their personal computers following the exam instructions they have received by the University. I will take into account the fact that students might need more time to type the questions online than it is normally needed for a written exam. Appropriate surveillance and software will be employed to avoid any misbehaviour or cheating during the examination.

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