INTERNATIONAL RELATIONS 330
POLITICS OF THE WORLD ECONOMY
Prof. Carol Wise
Summer 2015, Taper Hall 213
T-TH 1:00pm-5:10pm
Office Hours: T-TH 5:30-7:00pm
Office: VKC 328
Phone: 213-740-2138
Cell: 626-379-7634
E-mail: cwise@usc.edu
This survey course provides an overview of those conceptual approaches, critical turning
points, and key issues that have characterized the international political economy since the first
wave of globalization early in the 20th century. The main features of the course include: a
comparison of the two waves of globalization in the 20th century; a detailed analysis of the
political economy of the inter-war years; an examination of the post-World War II Bretton Woods
era, including the design of formal rules and institutions to oversee heightened flows of
international trade and finance; and, a review of those main themes that have dominated more
recent political economy debates. The latter will cover, for example, the proliferation of regional
trade and investment agreements, the eruption of numerous financial crises, the changing profile
of multinational corporations and foreign direct investment, and those political economic
challenges that are intrinsic to the early 21st century.
COURSE REQUIREMENTS:

Completion of all assigned readings prior to each meeting. The following two books are
required and can be purchased at the USC bookstore and at Amazon.com: World
Politics: Interests, Interactions, Institutions, Jeffry Frieden, David Lake, and Kenneth
Schultz (New York: W.W. Norton & Company, Second Edition, 2013); and, Global
Political Economy: Theory and Practice, by Theodore Cohn (New York: Longman, Sixth
Edition, 2012). THE BOOK BY THEODORE COHN WILL ALSO BE POSTED FOR
YOUR CONVENIENCE ON BLACK BOARD. For those wishing to brush up on some
basic economic principles, I recommend the following: Economic Literacy: Basic
Economics with an Attitude, by Frederick S. Weaver (New York: Rowman and
Littlefield, 2002). All other assigned readings have been posted on Blackboard and can
be easily downloaded.

Your grade will be based on the successful completion of: a 750 word op-ed piece that
provides commentary on and analysis of an important news event in the realm of
international economic relations that will be due on Thursday June 4 at 11:59 pm (20%);
an in-class mid-term exam on June 11 that will consist of short essay questions (30%);
participation in a group exercise detailed on the syllabus (10%); class participation,
including attendance (10%); an in-class final exam that will consist of short essay
questions and will be administered on Tuesday June 30 at 1:00 pm (30%). If you accrue
more than two unexcused absences your grade will be reduced by 1/2 a grade (e.g., from
1
A to A-); more than three unexcused absences will result in a full grade reduction (e.g.,
from A- to B-).

Guidelines for writing your op-ed piece: To be an effective communicator, you need to
practice writing. Summarizing the issue or event will not be enough: to do well, you must
provide your own insights. Scanning the opinion section of the New York Times and the
Financial Times will give you a good idea of the op-ed format. The op-ed piece will be
due on Thursday June 4, 2013 at 11:59 pm. You must submit this assignment through
“turn-it-in” on Blackboard.

For Disabled Students: Any student requesting academic accommodations based on a
disability is required to register with Disability Services and Programs (DSP) each
semester. A letter of verification for approved accommodations can be obtained from
DSP. Please be sure the letter is delivered to me as early in the semester as possible.
DSP is located in STU 301 and is open 8:30 a.m.-5:00 p.m., Monday through Friday.
The phone number for DSP is (213) 740-0776.
CLASS SCHEDULE AND ASSIGNED READINGS
WEEK 1:
Introduction to International Political Economy
Thursday May 21:
Globalization and the State-Market Debate
Theodore H. Cohn, Global Political Economy: Theory and Practice (New York: Longman, Sixth
Edition, 2012), chapter 1.
Branco Milanovic, “The Two Faces of Globalization,” World Development 31 (2003): 667-683.
PDF posted on Blackboard.
Wolf, Martin Wolf, Why Globalization Works. (New Haven: Yale University Press, 2005), pp. 319. PDF posted on Blackboard
Film: “Inside Job”
WEEK 2:
Past and Present
Tuesday May 26:
IPE’s Historical Backdrop
Theodore H. Cohn, Global Political Economy, chapter 2.
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions (New York: W.W. Norton & Company, 2013), chapter 1.
YouTube: The Industrial Revolution
http://www.youtube.com/watch?v=gGhSeRxSPb8
2
Thursday May 28: Conceptual Frameworks---The Realist-Liberal Paradigm versus
Interests & Institutions
Theodore H. Cohn, Global Political Economy, chapters 3 & 4.
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions, pp. xix-xxx and chapter 2.
YouTube: The Roaring 1920s & Crash of 1929
http://www.youtube.com/watch?v=9wJ4XHGVDoQ
http://www.youtube.com/watch?v=KE9aFqEyUhA
WEEK 3:
IPE’s Issue Areas
Tuesday June 2:
Issue Area III---International Financial Relations
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions, chapters 8.
Nouriel Roubini and Stephen Mihm, Crisis Economics (London: Allen Lane, 2010), pp. 86-157.
PDF posted on Blackboard.
Student Presentations


Is the “Great Recession” behind us? (1)
How to explain the Eurozone crisis of 2007-2015? (2)
Film: “Margin Call”
Thursday June 4:
Issue Area I---International Trade
OP-ED Essay is due at 11:59 pm today; to be submitted on “turn-it-in” on Black Board
Theodore H. Cohn, Global Political Economy, chapter 7.
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions, chapter 7.
Student Presentations


The ‘new’ (North) versus the ‘old’ (South) trade agenda (3)
The Trans-Pacific Partnership (TPP): Why all the conflict in the U.S. Congress? (4)
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WEEK 4:
IPE’s Issue Areas Continued
Tuesday June 9:
Issue Area II---Multinational Corporations
Theodore H. Cohn, Global Political Economy, chapter 9.
Student Presentations


What are “value chains” and “export nextworks”? (5)
Foreign Direct Investment (FDI) patterns in the 2000s: where is it ‘hot’ to invest? (6)
Film: “Capitalism: A Love Story”
Thursday June 11:
Mid-Term Exam
1:00-3:00: Exam
3:15-5:10: Film
WEEK 5:
International Development
Tuesday June 16:
The Challenges at Hand
Theodore H. Cohn, Global Political Economy, chapter 10.
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions, chapter 10.
Student Presentations


The Tenacity of poverty and income inequality (7)
A Post-Washington Consensus on development strategy? (8)
Thursday June 18:
Emerging Markets and Financial Crises
Shaun Breslin, “Chinese Financial Statecraft and the Response to the Global Financial Crisis.” In
Unexpected Outcomes: How Emerging Economies Survived the 2008-09 Global Financial Crisis,
Carol Wise, Leslie Armijo, and Saori Katada, eds. (Washington, DC: Brookings Institution Press,
2015). PDF posted on Blackboard
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions, chapter 9.
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Ignacio Labaqui, “Who’s Afraid of Reversing Neoliberal Reforms? Financial Statecraft in
Argentina and Venezuela.” PDF posted on Blackboard
Student Presentations


Is Corruption debilitating for emerging economies? (9)
The effect of China’s slowing growth on the world economy? (10)
WEEK 6:
Transnational Politics
Tuesday June 23: Human Rights
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions, chapter 12.
Student Presentations

Subject of your choice that addresses human rights (11)
Film: “Ground Truth”
Thursday June 25: The Global Environment
Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions,
Institutions, chapter 13.
Student Presentations

Subject of your choice that addresses the global environment (12)
FINAL EXAM: Tuesday June 30, 1:00 pm in Taper Hall 213
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