INTERNATIONAL RELATIONS 330 POLITICS OF THE WORLD ECONOMY Prof. Carol Wise Summer 2014, 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 in the 19th century. The main features of the course include: a comparison of the two waves of globalization in the 19th and 20th centuries; 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 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 Amazon.com: World Politics: Interests, Interactions, Institutions, Jeffry Frieden, David Lake, and Kenneth Schultz (New York: W.W. Norton & Company, 2010); and, Global Political Economy: Theory and Practice, by Theodore Cohn (New York: Longman, Sixth Edition, 2012). BOTH OF THESE READINGS 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. 1 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 5 at 11:59 pm (20%); an in-class mid-term exam on June12 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 July 1 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 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 5, 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 22: 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 27: IPE’s Historical Backdrop Theodore H. Cohn, Global Political Economy, chapter 2. 2 Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions, Institutions (New York: W.W. Norton & Company, 2010), chapter 1. YouTube: The Industrial Revolution http://www.youtube.com/watch?v=gGhSeRxSPb8 Thursday May 29: 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. xxiii-xxix 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 3: Issue Area III---International Financial Relations Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions, Institutions, chapter 7. 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? (2) Film: “Margin Call” Thursday June 5: 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 6. Student Presentations The ‘new’ (North) versus the ‘old’ (South) trade agenda (3) 3 The Trans-Pacific Partnership (TPP): An idea before its time? (4) WEEK 4: IPE’s Issue Areas Continued Tuesday June 10: Issue Area II---Multinational Corporations Theodore H. Cohn, Global Political Economy, chapter 9. Student Presentations Is there a ‘new logic’ to global production? (5) Foreign Direct Investment (FDI) patterns in the 2000s: where is it ‘hot’ to invest? (6) Film: “Capitalism: A Love Story” Thursday June 12: Mid-Term Exam 1:00-3:00: Exam 3:15-5:10: Film WEEK 5: International Development Tuesday June 17: 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 9. Student Presentations The Tenacity of poverty and income inequality (7) A Post-Washington Consensus on development strategy? (8) Thursday June 19: Emerging Markets and Financial Crises Shaun Breslin, “Chinese Financial Statecraft and the Response to the Global Financial Crisis.” PDF posted on Blackboard Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions, Institutions, chapter 8. Ignacio Labaqui, “Who’s Afraid of Reversing Neoliberal Reforms? Financial Statecraft in Argentina and Venezuela.” PDF posted on Blackboard 4 Student Presentations Argentina’s 2002 international bond default: getting away with murder? (9) China as a new source of global liquidity? (10) WEEK 6: Transnational Politics Tuesday June 24: Human Rights Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions, Institutions, chapter 11. Student Presentations Subject of your choice (11) Film: “Ground Truth” Thursday June 26: The Global Environment Jeffry Frieden, David Lake, and Kenneth Schultz, World Politics: Interests, Interactions, Institutions, chapter 12. Student Presentations Subject of your choice (12) FINAL EXAM: Tuesday July 1, 1:00 pm in Taper Hall 213 5