Title of Course:
Number of Credits:
Location and Times:
Globalization
HSS-491-H01 3 credits
MW 10:00 to 11:25 am; Rm: Kupf 104
Type of Course:
Seminar
Pre-Class Check up:
Please check your e-mail two hours prior to any class for
emergency notice
Course Professor:
Patrick Beaton Ph.D..
{beaton88@hotmail.com}
Phone: 201-998-0326.
Course Website:
www.webct.njit.edu
Required Texts:
1. The Commanding Heights: The Battle for the World
Economy. Daniel Yergin and Joseph Stanislaw. Touchstone
Book Published by Simon and Schuster, New York 2000
2. Three Billion New Capitalists. Clyde Prestowitz., Basic
Books, 2006.
Course Problem:
With your upcoming graduation you will find yourself in the
grasp of an economy that is global. How does it differ from the
economy that nourished you by supporting your parents and
grandparents? That now long past economy probably formed
the basis for their understanding of the world and your
understanding of how to survive in it. Our semester will be
spent exploring and analyzing the forces that appear to shape
the economies of the world and that appear to be shaping our
future lives. Our objective is to help you prepare yourself to
prosper in this new dynamic world.
Course Method:
It is often stated that experience is the best teacher. Yet,
experience of the world and its many economies is at best a life
long process requiring much travel and many discussions with
interesting individuals worldwide. University classrooms may
seem to be poor places to acquire such experiences. However,
technology and creative minds are changing that. Our work
will be centered on a Web based package integrating film,
voice overlays, and interviews with and writings from political
economic, social and historical figures. The central knowledge
base will be the text and the PBS web program “The
Commanding Heights.”
Course Responsibilities for Students
1. Class attendance is required and attendance will be taken. On time attendance credit
will accumulate toward your final grade.
2. Short concise written homework will be required for most classes and will be due on
an assigned date and in a required form.
Please use the following format:
a) Prepare your documents in MS Word, Excel or the equivalent.
b) Make Page 1 as follows:
Course title,
Your Name,
Assignment title taken from this syllabus,
Date assignment made, and
Date assignment turned in.
c) Page 2. State the specific problem you are writing about. Use headings to
effectively group paragraphs into meaningful sequences.
d) Last page: prepare a short conclusion, either descriptive or prescriptive based
upon your findings.
3. “Your Country” MS Word Document: You will choose a country “Your Country”
to be used to explore the ideas raised in Commanding Heights. You will track “Your
Country’s progress over the 20th Century and report on it periodically. During Week 10
you will be asked to sum up your examination of “Your Country’s” status in this the
beginning of the 21st Century as well as the foreseeable future. This should be done in a 5
to 10 page MS Word document. The document must contain economic and demographic
information in tabular form for the 20th Century + as well as well-cited information on
political, social and cultural distinctions or trends characteristic of “Your Country”.
4. The Final Report and Power Point Presentation: A final research document and
accompanying Power Point slide set will be required of each student. The document
should focus on the forces, institutional, sociological, cultural or natural, that are
embedded within the idea of globalization. A list of potential topics is listed in the
appendix and many topics will be investigated in the course of this class. Topics such as
dollar hegemony, economic development, migration, women’s rights, nationalism,
fascism, democracy, free markets, global warming, counterfeit medicines etc. can be
explored in and of themselves or in the context of “Your Country”. A wealth of written
and video opinion-information is available from the web and in the journals
Each student will prepare a document in accordance with the NJIT Humanities
Department’s statement of Information Literacy. Information Literacy will be judged on
the basis of demonstrated proficiency in: 1) Citation of evidence, 2) Presentation of
evidence showing independent research both in the field and/or from secondary sources,
3) Appropriateness of evidence used in the student’s thesis and 4) Integration of thesis
and evidence to deepen reflective understanding or interpretation of the thesis problem.
The final section of the final research document must address how you might adjust your
professional career track in light of what you are learning about globalization and “Your
Country”.
Including a title and citation pages, the document should be about 10 pages at 12 point
and 1 1/2 line spacing. Your topic and report outline must be approved in advance by
your professor. A list of substantive topics is shown in the appendix to the syllabus. To
further aid you in this effort, I strongly suggest that you log onto the World Bank Group’s
web page, search the drop down menus for Learning and go to B-SPAN and located the
video presentations under the title: “PSD Forum: Where is the World Going?,” and
examine Tom Friedman’s 21 minute presentation.
The Final Report Power Point presentation should consist of 10 to 12 slides including
title page slide and conclusions slide. Use a background template that makes your print
easy to read at a distance and maintain a point level of at least 22 to 24. Use special
affects with caution. Your presentation should last 20 minutes with 10 minutes for
questions from the class.
5. Mid-Term exam.
6. Final Comprehensive exam (optional).
9. Student final grades will be based on the professor’s evaluation of the student’s work
as reflected in the active attendance of the student, the overall semester effort displayed
in understanding the problems presented in the homework assignments, and the three
major reports. My evaluation of your work will be weighted strongly towards these three
reports: 1) My Country Report, 2) your MS Power Point presentation, and 3) the Final
Research Document.
10. Students will maintain and submit a Portfolio for review at the end of the semester or
face an incomplete for the course. Please start the Portfolio project with a folder available
through the university bookstore and include this syllabus as your first entry.
Schedule
A Note to Honors Students: You are at your best when you can draw from a broad
range of knowledge and discuss, critique and argue findings. The curriculum you
are about to explore draws from a vast range of contemporary sources to provide
you with descriptions of phenomena, supported or unsupported with theoretical,
cultural or political points of view. Viewing and reading the various assignments
will require and efficient study practice. Learn to focus and skim simultaneously; be
constantly critical of what you are seeing or reading; be searching for the unspoken
or hidden point of view of the author, of unstated assumptions regarding conditions
necessary for an interpretation of a reality to hold and be constantly striving to
integrate your findings into a coherent whole.
Before Class 1. Where are we Headed?
Read: Chapters 13 and 14, The Commanding Heights: The Battle for the World
Economy. By Daniel Yergin and Joseph Stanislaw.
Read: Global Political Policy Alternatives: A New Global Blueprint by David
Brooks, NYT June 2007.
Read: Culture and Globalization: The Human Community. David Brooks,
NYTimes May 2007.
Class 1 Major Topic: What is globalization and what is all the fuss over
globalization?
In Class:
1. Watch Commanding Heights (CH), Ch 1 Prologue.
2. What is the fuss over globalization and free markets? You should reexamine
the definition given you in your economics course for “perfect competition”,
free trade and “comparative advantage” using a source such as
http://en.wikipedia.org/wiki/Perfect_Competition.
or the Federal Reserve Bank of Richmond, at www.rich.frb.org and search
for: The Free Trade Debate: The Illusion of Security Versus Growth by R.L.
Hetzel. An excellent examination of global issues can be found in
www.globalissues.org. In addition, Balance of Payments and trade related
information can be found in the Economic Statistics Briefing Room
International Desk at www.whitehouse.gov/fsbr/international.html .
Home Work:
1. Read: An Unexpected Odd Couple: Free Markets and Freedom, by Patricia
Cohen NYT, July 2007.
2. Measuring Globalization: The Top 20 in 2006.
http://www.atkearney.com/shared_res/pdf/Globalization-Index_FP_NovDec-06_S.pdf
3. FYI: An interesting reference work explores where cross boarder
(international) investments will be going in the near term.
http://www.atkearney.com/shared_res/pdf/FDICI_2005.pdf
4. Written Home Work Assignment 1a: Read: The Basics of Foreign Trade
and Exchange. Prepared by the New York Federal Reserve Bank and accessible
freely at http://www.newyorkfed.org/education/fx/print.html . Then, log onto
www.bea.gov and click on the heading: International Economic Accounts.
Examine the “Highlights” sections:
1) Balance of Payments
2) Trade in Goods and Services, and
3) International Investment Position.
Write a short several page essay describing your findings regarding: 1)
free trade, 2) comparative advantage, perfect competition, 3) balance of
payments and balance of trade, 4) the strengthening or weakening exchange
rates and 5) the role of central banking in international trade focusing on both
fixed and flexible exchange rates and the rise of petrodollars. You may also use
Wiki for reference material on the above.
5. Written Home Work Assignment 1b. Examine the list of countries in the
Commanding Heights PBS website{www.pbs.org) and choose one for
“Your Country” studies throughout this course. Write a short paragraph
explaining why you choose your particular country.
_______________________________________________________
Class 2. Major Topic: Setting the historical stage for our current world:
The Fall of the Old Order in Global Affairs.
Secondary Topic: Normative economic theory: left and right.
In Class
1. Watch (CH) Ch 2 The Old Order Fails, and Ch 3 Communism on the
Heights.
2. Discuss relevance of this turmoil to today’s world: free markets, central
planning, mixed economies, microeconomics and macroeconomics.
Home Work:
1. Written Home Work Assignment 2: Using the Commanding Heights
website at Ideas, Essays: Read the following segments:
a) Adam Smith and the Origin of Capitalism
b) Marx’s Analysis of Capitalism, and
c) Lenin’s Critique of Global Capitalism.
d) “Colonialism” in Wiki.
e) CH Text, Introduction.
Then, based on these readings, write a three or more page paper describing
the: “Old Order” as the term is used in the Commanding Heights video:
segment 2. In the paper, discuss the concepts: perfect competition and free
trade in the context of those (peoples, nations etc) who benefited and those
who did not benefit from the Old Order. What would the world look like
today if the “Old Order” had continued to the present day?
Class 3: Major Topic: Market Failure and the Rise of Government Controlled
Economies.
Secondary Topic: Demographics and how they affect globalization and
welfare.
Technical Topic: GDP, what it is and what it purports to measure.
In Class:
1. Watch (CH) Ch. 4 The Capitalist Collapse and Ch. 5 Global Depression.
2. Discussion period: New Deal, Regulated Capitalism, Inflation, Depression,
Unemployment.
3. Technical Review: What is GDP? What is it good for? Use the Barnes and
Nobel Sparknotes for a quick review, see:
http://www.sparknotes.com/economics/macro/measuring1/section1.html
Home Work:
1. Read:
1 . The German Hyperinflation 1923. CH Ideas: Essay.
2. The Rise of State Owned Companies. CH. Ideas: Essay.
3. Commanding Heights Text: Ch.2, The Curse
of Bigness
4. The Global Impact of Demographic Change. N. Batini et al, IMF
Working Paper Jan 2006, Read Chapters 1,2,4, and 6.
Written Home Work Assignment 3: GDP Technical Assignment found
on the course Webct site.
Class 4: Major Topic: Logic of Socialist and Mixed Economies as opposed to Free
Market Economies
Technical Topic: Measuring threats to the macro economy: inflation
and unemployment.
In Class:
1. Watch (CH) Ch 6 Worldwide war and Ch 7 Planning the Peace.
2. Discussion period. Bretton Woods Conference, Potsdam, Keynesianism,
Sacredness of private property, winning the peace, freedom is an absolute,
scientific socialism.
3. Business Cycles
4. Technical Review: Inflation and Unemployment: Meaning and
Measurement.: You may use the Barnes and Nobel Sparknotes for a quick
review.
http://cgi.sparknotes.com/hlite.mpl?pd=0&page=section1.html&nfs=0&gu
ide=%2feconomics%2fmacro%2fmeasuring2&words=inflation as well as
http://www.sparknotes.com/economics/macro/measuring2/section2.rhtml
Home Work:
I. Read:
a. Labor Nationalizes the Heights. CH Ideas: Essay.
b. The Birth of the British Welfare State. CH Ideas, Essay.
c. Bretton Woods System Sections 1 through 6 at
http://en.wikipedia.org/wiki/Bretton_Woods_system
d. Keynesian Economic Theory. CH. Ideas: Essay.
e. Keynes in America: The New Deal CH. Ideas: Essay.
f. CH Text, Chapter 3.
II. Written Home Work Assignment 4. Complete the assignment shown in
the Inflation Price Index Homework file to be found on the course Webct site.
________________________________________________________________
Class 5: Major Topic: The challenge to Keynesian Economic Policy.
Reemergence of the Capitalist Justification for Free Markets
Secondary Topic: Oil!
In Class:
1. Watch (CH) Ch 8 Pilgrim Mountain, Ch 9 Germany’s bold move, and Ch
10: India’s Way.
2. Discussion period. Wage/Price Controls, Black Markets, Isolated selfsufficiency, The Commanding Heights
3. Special Research Topic 1: Peak Oil. Film: A Crude Awakening: The Oil
Crash.
4. Peak Oil Caucus: Chairs Bartlett, Udall, comment on National Petroleum
Council report: http://www.eenews.net/tv/video_guide/650
5. Contrary argument: National Petroleum Council: Facing the Hard Truth
About Energy. http://www.npc.org/
Home Work:
Required Reading.
1
2
3
4
Hayek’s Road to Serfdom. In CH Ideas, Essay.
CH Text, Chapter 1.
Prestowitz, Chapter 8.
Executive Summary Peaking of World Oil Production: Impacts, Mitigation
and Risk Management by Robert L. Hirsch et al, Feb 2005. found at
http://www.bartlett.house.gov Click on Issues Tab and go down to and click
Peak Oil and locate Hirsch Report also check the 2007 GAO Report..
5 Congressman Roscoe Bartlett’s statement in the Congressional Record:
House of Representatives: GAO Report on Peak Oil, March 9, 2007.
6 Big Rise Seen in Demand for Energy. Jad Mouawad, NYTimes July 07
Written Homework Assignment 5:
Write several pages on the recent economic, energy and geographic position of
“Your Country”. Use the Commanding Heights country reports and the CIA
World Factbook. Given the importance of Peak Oil as described in the Hirsch
report and Rep Bartlett’s presentation, explore the consumption, production and
reserves where appropriate of electricity, petroleum and natural gas. Report
statistics in both per capita and per unit of Real GDP using its purchasing power
parity measure.
Use the Commanding Heights country reports, the CIA World Factbook
https://www.cia.gov/cia/publications/factbook/geos/br.html and the World Bank
statistical data base to help explore your country.
Optional Viewing: Peak Oil? Four Corners Broadband Edition at
http://abc.net.au/4corners/special_eds/20060710/default_full.htm
FYI: The movie: Syriana with George Clooney, Matt Damon and Jeffrey
Wright provides a human view of the economic issues surrounding oil.
_____________________________________________________________
Class 6: Major Topic: Government Failure? Failure of Mid-Century’s Mixed
Economies and Voices for Unconditional Capitalism: Rutgers University’s
home grown Nobel Laureate!
Secondary Topic: Globalization and Migration
Technical Topic: Exchange Rates
In Class:
1. Watch (CH) Ch. 11 Chicago Against the Tide, Ch 12, The Specter of
Stagflation, and Ch. 13, a Mixed Economy Flounders.
2. Discussion: Forces of nature or man made machines: Gravitation, Markets
etc. Stagflation, Risk-taking and the Welfare State, Where does fairness come
in?
6. Technical Review: Monetary versus Fiscal Policy. For your review, check:
http://www.sparknotes.com/economics/macro/policydebates/section1.html
7. Special Research Topics 2: Migration! Jan Karlsson “International
Migration: Problem or Opportunity”. Search BSPAN for
http://info.worldbank.org/etools/BSPAN/presentationView.asp?EID=785&P
ID=1605
Home Work:
Required Readings:
The Chicago School. (CH). Ideas, Essay
Nixon Tries Price Controls. (CH). Ideas, Essay.
The Rise of Regulation in the U.S. CH. Ideas: Essay.
CH Text: Chapter 5.
Japanese Export Engineers, Martin Fackler, May NYTimes 2007.
Who was Milton Friedman , Paul Krugman, New York Review of
Books, Feb 2007.
Written Homework Assignment 6a: Exchange Rate Technical Assignment.
Available in Course Webct site.
Written Homework Assignment 6b: Write a short essay describing the issues
of international migration as informed through the work of Jan Karlsson.and
others.
______________________________________________________________
.
Class 7. Major Topic: Dissatisfaction at home and abroad; Regulation and prices
are up and Cadillac’s are down. Reform is initiated in Britain and the US.
Secondary Topic: Markets and Democracy.
In class:
1. Watch CH, Ch. 14: Deregulation Takes Off, Ch 15 Thatcher Takes the Helm,
Ch. 16 Reagan Rides In. and Ch 17: War in the South Atlantic.
2. Discussion: Reaganomics, Regulated Capitalism, Fiscal vs Monetary Policy.
5. Special Research Topics 3: Markets and Democracy: “The Promise and
Peril of Democracy” Presented by Former President Jimmy Carter, World
Bank, 2005 B-SPAN.
Homework:
Required Readings:
1. Reaganomics. CH. Ideas: Essay.
2. Another Man’s Honor, NYTimes 2006. Available on course Webct site.
3. CH Text, Chapter 4.
4. Skim: Crisis of Democracy 1973 Trilateral Commission Report. This report
examines democracy as a human defined construct with benefits and costs.
5. Skim: Global Governance 2003, Trilateral Commission Report.
6. Rethinking Thatcherism: Latest Death of Teenager in South London
Unsettles Britain. Alan Cowell, NYTimes Feb 2007.
7. Democracy and Nation Size. Gar Alperovitz, NYTimes Feb 2007.
Written Homework Assignment 7a:
Write several paragraphs on the social, cultural and political position of “Your
Country” from the turn of the twentieth century up to the end of WWII. Use the
Commanding Heights country reports and the CIA World Factbook
https://www.cia.gov/cia/publications/factbook/geos/br.html to help explore your
country; as well as the World Bank Institute “Governance Indicators” available
at www.govindicators.org as well as the key development data and statistics
found at the World Bank. http://web.worldbank.org. Click the Data and
Research TAB, then go to the Data Frame and click the Pull Down menu: Key
Statistics and go to Online Databases. Next, click the phrase: Key Development
Data and Statistics and find you “My Country” and select the data you need to
complete your “My Country Report” due in week 10. In addition, time series
data from 1990 to 2004 for FDI, DGP, Trade etc. is available at
http://www.atkearney.com/main.taf?p=5,4,1,127,1 When using raw statistics or
indicators from international organizations’ data bases, you should compare you
country with that of a reference country such as the USA so that your audience
better understands the meaning you are trying to give to the variable or
indicator. Additional information on the indicators can be found under the Data
Frame at Key Product Series, World Development Indicators 2007.
Written Homework Assignment 7b: Write a short essay summarizing the
thesis of President Carter in the Promise and Peril of Democracy.
_____________________________________________________________
Class 8. Major Topic: Free market Capitalism seems to win out over the mixed
economy.
Secondary Topic: Conditions underlying the successful integration of
democracy and markets.
In Class:
1. Watch (CH) Ch. 18 The Heights Go up for Sale and Ch. 19. The Battle
Decided?
2. Discussion:
3. Special Research Topics 3 continued: Democracy, Markets and Freedom.
World on Fire: A discussion with Amy Chua. World Bank B-SPAN 2004.
Home Work:
1. Read: The Birth of Privatization. CH Ideas: Essay.
2. Read: Does Free Trade Lead to Democracy: America’s “Missionary
Stance” CH Persons: Interview with Lee Hsien Loong.
3. Steven Myers: Ukraine’s Democracy Gasps for Air. NYT June 2007.
4. Sabrina Tavernase: Turkey, Democracy and Islam. NYT June 07.
5. Simon Romero: Venezula’s Democracy under Fire. NYT June 2007.
6. New Thai Constitution Paves Way for Vote. Seth NYTimes, Aug 20, 2007
Written Homework Assignment 8a: Log onto the Bank of International
Settlements www.BIS.org and click the Tab: “Central Banks Hub” Go
to Your Country’s central bank web page and examine the type of
information contained therein. Write an outline of the types of content
and then conclude with a short essay on the bank’s analysis of “Your
Country’s” economy: past present and future to the extent you can find
such information.
Written Homework Assignment 8b
: Write a short essay on the relevance of Amy Chua’s thesis to a current policy
issue involving democratization.
___________________________________________________________
Class 9. Major Topic: Can there be an Economic Transformation without Pain?
The Failing Economies: The USSR, India and Latin America.
Secondary Topic: What do we as human beings value: possessions, poverty
and fairness as social and political issues.
In Class:
1. Watch (CH) Episode Two: Ch 1 Prologue, Ch 2. The Ghosts of Norilisk,
Ch. 3 Behind the Iron Façade, Ch 4. India’s Permit Raj, and Ch. 5 Latin
American Dependencia.
2. Discussion: Standard of Living, Isolation and the environment, Dependency
Theory and Productivity, Isolation and Quality of Life.
3. Research Topics 4: Poverty and Fairness. World Bank Presidential
Fellows Lecture Series 2004: “Working for Fair Globalization,” presentation
by ILO Director General Juan Somavia
http://info.worldbank.org/etools/bspan/PresentationView.asp?EID=63&PID
=1179 BSPAN Video Presentation
Home Work:
1. Read: CH Essays Dependency Theory
2. Read: Joseph Stiglitz “The Importance of Sequencing and Pacing to
Successful Economic Reform. CH Persons.
3. Read: Joseph Stiglitz “ The Chilean Miracle: “Combining Markets with
Appropriate Reform”. CH Persons.
4. CH Text, Chapter 8.
5. The Streets where the Average Age of a Prostitute is 14. Susan Stewart,
NYTimes June 2007.
6. Cambodian Sex Slaves, Nick Kristoff, NYTimes, Jan 2004.
Written Homework Assignment 9a: What was the status of your country
from the end of WW II to the current time period. Data sources should include
the Commanding Heights country data bases, the CIA World Factbook
Use data in CH or elsewhere on the Web to compare the status or growth and
development of your country with that of the USA or another country in your
country’s region. The CIA factbook can be accessed at:
https://www.cia.gov/cia/publications/factbook/index.html
Written Homework Assignment 9b: Write a short essay describing the thesis
of Juan Somavia and its relevance in the 21st century.
Class 10. Major Topic: Pure Capitalism: Neocon capitalism applied to the many
different nations in the world.
Secondary Topic: Conditions for capitalism to succeed in developing
countries.
In Class:
1. Watch (CH) Episode Two Ch 6 Counterrevolution in Chile, Ch 7 Chicago
Boys and Pinochet, Ch 8 Heresy in the USSR and Ch 9 Poland’s Solidarity.
Corresponding text readings: Ch. 10. Ticket to the Market: The Journey after
Communism. Ch 11. The Commitment: Europe’s Search for a New Social
Contract.
2. Discussion: Law, property rights, regulation and economic growth.
3. Special Research Topic 5: Has Capitalism Failed Developing
Countries? “Culture Clash: A Talk with Hernando DeSoto” at
http://www.uncommonknowledge.org/700/715.html
Home Work:
Read: Mikhail Gorbachev “Shock Therapy”in Poland and Russia and Yeltsin’s
Mistake. CH Persons, Mikhail Gorbachev.
Read: Out of Siberia, a Russian Way to Wealth NYTimes 2006. Available
at the course Webct site.
Read: CH Text, Chapter 9.
Read: Seeking Signs of Literary Life in Iran. Azadeh Moaveni NYT May
2007.
Read: China Backs Property Law, Buoying Middle Class. Joseph Kahn
NYTimes March 07.
Political Colashes Shake Venezuela’s Strained Oil Industry, NYTimes,
July 2007
Chavez Looks at his crities in the Media and sees the enemy. Simon
Romero, NYTimes, June 2007.
Chavez threatens to jail price control violators. Simon Romero,
NYTimes, Feb 2007.
Income gap is widening in US. David Gay Johnston, NYTimes March
2007.
China’s Wealthy Live by a Creed: Hobbes and Darwin, Meet Marx, by
Yilu Zhao, Feb 2004.
Lybia says it will lay off 400000. Reuters, Jan 2007.
China’s Trade in Africa Carries a Price Tag , Polgreen and French, Aug 2007.
Written Homework Assignment 10. Write a short essay describing Hernando
DeSoto’s thesis and its current relevance to Latin America or Africa.
----------------------------------------------------------------------------------------------Class11. Major Topic: Neocon capitalism in Latin America and Central Europe
while simultaneously East and West Germany merge and the EU talks
seriously of a United States of Europe
Secondary Topic: Globalization and the Environment.
In Class:
1. Watch (CH) Episode Two: Ch 10 Bolivia at the Brink, Ch 11 Shock
Therapy Applied, Ch 12 The Miracle Year and Ch 13 Poland in Transition.
Corresponding text readings: Ch. 9 Playing by the Rules: The New Game in
Latin America.
2. Discussion: Shock Therapy,
3. Special Research Topic 6: The Global Environment and liberal free
market economics. Al Gore “An Inconvenient Truth: A Global Warning”.
Video shown in class.
Home Work:
Joseph Stiglitz: “Bolivia and Argentina: Stabilization Without Economic
Growth. CH Persons.
Middle Stance Emerges in Debate Over Climate, New York Times January 1,
2007
Home on the Rainforest, William Powers and Glenn Hurowitz, June 2007.
In the Amazon: Conservation or Colonialism? Larry Rohter, NYTimes, July
2007.
Review: The Stern Report, www.sternreview.org.uk
Review: Relevant arguments in the energy-environment policy argument found
at http://www.nytimes.com/ref/science/earth/energy.html
4. FYI: Review the following World Bank BSPAN presentation quickly in
order to identify the key issues facing environmentalists and environmental
economists: “Can Economic Growth Solve our Environmental Problems?”
A Debate with Herman Daly and Paul Portney BSPAN World Bank. 2004.
5. CH Text Chapter 10.
6. Pemex Failure for Mexican Oil. Elizabeth Malkin, NYTimes March 2007.
7. How Societies Fail-And Sometimes Succeed. Jared Diamond
video.google.com/videoplay?docid=4271982381147720351 also see Jared
Diamond in Wiki.
Written Homework Assignment 11. Prepare a short outline the key
environmental issues facing the 21st century.
_______________________________________________________________
Class 12. Major Topic: The USSR and India seek an alternative to a Centrally
Planned Economy.
Secondary Topic: Infrastructure planning and development in developing
countries.
In Class:
1. Watch (CH) Episode Two: Ch 14 Gorbachev Tries China, Ch 15 The
Soviet Free Fall, Ch 16 Reform Goes Awry and Ch 17 India Escapes
Collapse.
2. Discussion. Context of Economic Policy: Heavy Industry vs Agriculture.
Where are the early converters today? Crony Capitalism,
3. Special Research Topics 7: Infrastructure. Ioannis Kessides.
“Reforming Infrastructure: Privatization, Regulation, and Competition.
World Bank B_SPAN.
Home Work:
Read: CH Text, Chapter 8.
India and GE, NYT 2007
India Currency Rise NYT May2007
Electricity Crisis Hobbles an India Eager to Ascend. Somini Sengupta NYTimes
May 2007
India finds its economy on the verge of overheating. Keith Bradsher, NYTimes
Feb 2007.
India’s Banks Unproductive. Heather Timmons, NYTimes, March 2007.
Written Homework Assignment 12: Write a short essay identifying the
issues of infrastructure in developing economies.
_______________________________________________________________
Class 13 Major Topic: The Unbelievable Happens: the USSR is No More!
Secondary Topic: Culture, Gender and Development.
In Class:
1. Watch (CH) Episode 2: Ch 18 Russia Tries to Privatize, Ch 19 Loans for
Shares, Ch 20 Closing the Deal and the summary Ch 21 A Decade of
Radical Change.
2. Discussion: State Industries, The pros and cons of privatization. Report card
on economic liberalization.
3. Special Research Topics 8: Culture Gender and Development. Gender
Based Violence and Equitable Development: The Role of the International
Community. Yakin Erturk, Susan Villaran Paul Wolfowitz etal BSPAN
2005..
Home Work:
1. Read: “Shock Therapy in Russia: Was There an Alternative?” CH Persons
Joseph Stiglitz.
2. Read: “Out of Siberia, A Russian Way of Wealth.” NYTimes, Aug 20,
2006. Available at course Webct site.
3. 6. Norilsk Raises bid for LionOre . NYTimes Ma 07.
4. Indian Women and Western Skin Care Treatment May 2007
5. A Quiet Revolution in Algeria: Gains by Women. Michael Slackman, May
2007.
6. High Crime stifles Latin Economies. Jens Erik Gould NYTimes Oct 2006.
7. Tunisia as an Arab Women’s Rights Leader, Andrea Barron, Globalist
Perspective, July 11, 2007.
8. Culture counts: Interview with David S. Landes-Coolidge Professor History
and professor of economics at Harvard University found at
http://findarticles.com. You can print the full interview out by pressing the
“print” icon found above “Advanced Search” once you have found the
article.
______________________________________________________________
Class 14. Mid Term Exam. (3/05)
_______________________________________________________________
Class 15. Major Topic: The Beginnings of the New Globalization and the New
Rules of the Game.
In Class:
1, Watch (CH) Episode 3: Ch. 1 Prologue, Ch 2 Global Idea, Ch 3. NAFTA:
The First Test, Ch 4. Crossing Borders, Ch. 5 The Global Market, and Ch 6.
Emerging Market Hunters.
2. Discussion What are the rules? Who writes the rules? Trade liberalization,
NAFTA, Inequality.
3. Office of the U.S. Trade Representative
http://www.ustr.gov/Trade_Agreements/Bilateral/CAFTA/CAFTADR_Final_Texts/Section_Index.html
4. Special Research Topic 9: Rules of the Game. Joseph Stiglitz, Making
Globalization Work. Goggle Video .
http://www.wto.org/
Homework:
1. Read: CH Persons Joseph Stiglitz, “The North-South Divide: Who Makes
the Rules, and Who the Rules Benefit”.
2. Read: Prestowitz, Ch. 2.
3. Optional Reading: “Rich and Poor in the international economic system” The
Andreas Papandreou Memorial Lecture by Joseph Stiglitz, 20 October 2000.
Find at:
http://www.agp.gr/english/activities/lectures/2000/stiglitz/stiglitz_speech.stm
4. Kidnapping and Slavery in China Howard French NYTimes June 2007
5. Globalization of Food Ingredients. Alexei Barrionuevo NYTimes June
2007.
6. China’s Factory Towns. Nicholas Kristof, NYTimes May 2007.
7. Big, Gritty Chongqing, City of 12 Million, is China’s Model for Future.
Howard French, NYTimes June 2007.
8. A Lesson That Thomas Could Teach, David Leonhardt, NYTimes June
2007.
9. Banks face stern test when credit cycle turns. Andrew Hurst Reuters June
2007.
10. Mapping the Global Capital Market: 3rd Annual Report , Diana Farrell et al,
McKinsey Global Institute, Jan. 2007.
____________________________________________________
Class 16. Major Topic: The Developed World Power over the Developing World,
a source of constant conflict: The Washington Consensus.
In Class:
1. Watch (CH) Episode 3: Ch 7 Averting a Meltdown: 1994, Ch 8. The Global
Village, Ch. 9 China and the Tigers, and Ch 10. The Japanese Paradox.
2. Discussion: The Washington Consensus, The Mexican bailout, Free Trade
Zones, Deflation.
3. Special Research Topics 10: Economics as Theory versus Economics as
Practice. Policies of International Financial Agencies “Joseph Stiglitz and
Kenneth Rogoff discuss Globalization and its Discontents.”
http://info.worldbank.org/etools/bSPAN/presentationView.asp?EID=145&PID=32
5
Home Work:
1. Read: “The Asian Crisis” by Joseph Stiglitz CH Persons.
2. Read: Prestowitz, Ch. 3.
2. Written Homework Assignment 13. Examine John Williamson’s World
bank presentation: “What should the World Bank think about the Washington
Consensus?”
www.worldbank.org/research/journals/wbro/obsaug00/pdf/(6)Williamson.pdf ,
also referenced at the end of the Williamson BSPAN presentation,
and explain the elements of the Washington consensus and how they have
change in their meaning and policy making importance since Williamson coined
the term.
______________________________________________________________
Class 17. Major Topic: Contagion and Capital Market Liberalization
In Class:
1. Watch (CH) Episode 3: Ch. 11 Global Contagion Begins, Ch 12. Contagion
Engulfs Asia, Ch. 13. Russia Defaults, and Ch. 14 The Crisis Reaches
America.
2. Discussion: Contagion, Fixed versus variable exchange rates, Devaluation.
Home Work:
1.Read: CH Persons, Stanley Fisher “ Examining the Causes of the Asian
Financial Crisis”, The IMF and the Asian Crisis”, “Lessons Learned from
the Asian Crisis” .
2.Read: CH Persons, Lee Hsisen Loong “Opening up trade Consensus and
Crisis.
3.Read: CH Text, Chapter 12.
_______________________________________________________________
Class 18. Major Topic: Time to Reexamine the Validity of the Washington
Consensus and Rubinomics.
Secondary Topic: Trade Imbalances as a threat to both developed and
developing nations’ economies and political stability.
In Class
1. Watch (CH) Episode 3: Ch. 15. The Global Debate, Ch. 16. The Battle
Joined, Ch 17. Failure at the Summit, Ch. 18 The Global Divide and Ch. 19
Capitalism Redefined.
2. Discussion: Management of International Financial Institutions, Politics of
Trade, Unfair Trade Practices, Tools of Capitalism
Home Work:
1. Written Home Work Assignment 14: Read the article by Louis Uchitelle
from the New York Times Nov 26, 2006: “Here Come the Economic
Populists,” where the term Rubinomics is described. Write a short essay
describing the term and examining its relevance for today. What does it
have to do with the Washington Consensus and Stiglitz’s view of
globalization?
Readings:
CH Online text: Ch. 14 The Balance of Confidence: The New Rules of
the Game.
Henry C.K. Liu “America’s selective strong dollar policy”
http://www.atimes.com August 14, 2003.
Joseph Stiglitz “How Have the Economics of Keynes and Friedman Fared
Over the Years?” CH Persons.
Not Everyone is in the Red on Trade with China, Floyd Norris, June
NYTimes 2007.
William Poole: Changing World Demographics and Trade Imbalances.
Economist’s View April 2007.
_______________________________________________________________
Class 19 The Past is Past, You must carry us into the future!
In Class
1. Watch (CH) Episode 3: Ch. 20. The Bottom End of Globalism, Ch. 21.
Changing of the Guard, Ch 22 The Battle Resumed and Ch. 23. After 9/11.
2. Discussion: Where are who are at the bottom end of Globalism and what
appears to be the result? What about the traditional middle class of
developed countries?
Homework:
1. Read CH Ideas, Essays “The Balance of Confidence.
2. Prepare for Presentations of Research Reports.
__________________________________________________________________
Class 20 Major Topic: The World is Flat!
In Class
1. Watch Thomas Friedman: Video presentation before the World Bank, April
2005.
http://info.worldbank.org/etools/bSPAN/PresentationView.asp?PID=1466&EID
=732
2.Discussion
3. FYI Where is Liberal Capitalism Leading Us? Read the 6 part series by
Henry C.K. Liu “The Coming Trade War and Global Depression” for one
informed opinion.
http://www.atimes.com/atimes/Global_Economy/GH20Dj01.html
Homework:
1. Written Home Work Assignment 15: Write a short essay examining
Friedman’s thesis against what you current know and what you feel
will be your professional future.
2. Read: Joseph Stiglitz “Reforming the Rule Makers and the Need for
Transparency.” CH Persons.
3. Read: Remainder of Perstowitz.
Class 21. Major Topic: The Dollar as Reserve Currency of the World: Can it
survive, can the US survive it?
In Class
1. Watch: The World Turned Upside Down: The Impact of the Return
of India and China to their Historical Global Weight. Clyde
Prestowitz at MIT. http://mitworld.mit.edu/play/356/
2. Discussion: World Monetary Policy, the fall of the American Dollar.
Homework:
1. Read: What businesses need to know about the US current-account
deficit. Diana Farrell and Susan Lund, McKinsey Quarterly, No. 3,
2007.
2. Sovereign Investment Policy: A Fear of Foreign Investments. Steven
R. Weisman, NYTimes, Aug 2007.
3. Written Home Work Assignment 16: Write a short essay
examining Prestowitz’s advances over Friedman’s basic theses in
light of Farrell and Lund’s work..
Class 22 to end: Student Presentations will complete the course.
Appendix: Topics suitable for Final Research Document.
a. Globalization and Poverty or Income Disparity: Enhanced or
diminished
b. Globalization and Labor Practices: Child Labor Increased or Reduced
c. Globalization Women: Harmed or Helped
d. Democracy at Bay: Is democracy or freedom or liberty a human rights
absolute?
e. Does the Globalist’s view of the nation-state culture imperil or enrich
culture? Does Globalization imperil or enrich culture?
f. Does the Globalist’s view of Globalization threaten the wages and
labor standards of developed countries?
g. What will Globalization do for the environment?
h. Is the western based corporate organizational structure predatory or
beneficial to human kind?
i. Capital market liberalization, is this just another form of trade that
should be free?
j. What is the record of globalization for legal and illegal international
flows of humanity, beneficial or harmful?
k. Is the international transmission of disease exacerbated with the
Globalist’s view of Globalization?
Appendix 1: Planning Schedule for the Major Final Paper and
Presentation
Globalization Fall 2007
Sept 17: Provide a list of 4 alternative topics either from the syllabus or from the World
Bank B-SPAN topics list and provide an argument why you might write in each of the 4
areas.
Sept 24: Choose the topic you will prepare for the final report and presentation.
Oct 15: Complete and submit a draft outline containing the headings and subheadings
you propose to use to guide the completion of your final report and presentation. Make
sure that the real world problem you are studying in clearly specified.
Oct 29: Submit a list of information sources that you will use to complete the final report
and presentation.
Nov 19: MS Power Point Presentation draft slide set due for submission to professor.
Dec 3: MS Power Point Presentations begin.
Dec 12: Final MS Word report submitted to professor.
Appendix 2: Planning Schedule for the “Your Country” report.
HSS Globalization
Fall 2007
Sept 12: Prepare a short proposal indicating the problem that interests you about “Your
Country”, and the topic or topics you will discuss that relate to, support your conclusions
or would help solve the problem.
Oct 22: Submit a clean first draft of your report to the professor.
Nov 19: Final MS Word report submitted to professor.
Appendix 3: Academic Calendar Fall 2007
September 1
September 2
September 3
September 4
September 10
September 17
October 15
November 5
November 12
November 15
November 20
November 21
November 22-25
December 12
December 13
December 14-20
December 21
Saturday Classes Meet
Sunday Classes Meet
Labor Day-No Classes Scheduled
First Day of Classes
Last Day to Add a Course
Last Day for a Refund based on a Partial Withdrawal
Deadline for Applying for January Graduation (No
Ceremony) Last Day for a Refund based upon a complete
withdrawal
Last Day to Withdraw from course(s)
Spring Registration begins
Deadline for Applying for May Commencement Ceremony
Classes Follow a Thursday Schedule
Classes Follow a Friday Schedule
Thanksgiving Recess-No Classes Scheduled
Last Day of Classes
Reading Day
Final Exam Period
Fall Grades Due in Registrar's Office