International Political Economy (SISU 220)
Gregory Fuller
Section 001
American University
School of International Service
Fall 2014
Course Time: 8:55 – 10:10 (T/F)
Contact: fuller@american.edu
Office Hours: Tuesdays, 10:30 –
11:30 and 4:00-8:00pm. Fridays,
10:30 – 11:30 and 1:00-3:00pm.
Also by appointment.
Office: EQB 305
Course Description
International Political Economy (IPE) “studies how politics shape developments in the global
economy and how the global economy shapes politics”. As the world becomes more and more
integrated, so IPE issues become increasingly important. This course is a first step in
understanding the interdependent world around you.
Learning Objectives:
By the end of this course, students will be able to:
1. Define the field of international political economy and identify the field's basic concepts;
2. Illustrate how the world's nation-states have become increasingly interdependent over
the past four decades – and describe how this growing interdependence affects
domestic political and economic outcomes;
3. Describe the basic principles of the international trading and monetary systems,
explaining how they have evolved over time;
4. Weigh in on the major debates in IPE, concerning issues such as development policy,
sovereign debt and austerity, immigration policy, the "resource curse," and the reform of
international institutions;
5. Critically evaluate information concerning international economic and political relations;
Perform one in-dept analysis of an empirical phenomenon related to the topics of the course.
This class will combine the lecture format with class discussion. Students are expected to be
ready for the class discussions based on the assigned readings. Class participation is
important: it makes the class more fun and interesting for everyone. Please do the readings
ahead of class so that you can participate fully.
Students are also expected to follow the news on international economic issues, to be
discussed in class. Students are required to have a subscription to a major source of
economic news (e.g., The Economist, The Financial Times, etc.) during the semester, and
to be prepared to discuss major, contemporary economic events.
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Course Requirements
1. A midterm and final, consisting of short-answer questions, covering the basic
concepts discussed in class and in the readings: 50% of the final grade (20% on the
midterm; 30% on the final)
2. Research Paper: 25% of the final grade. The paper topic must be chosen by you by
the end of week six and discussed with me. The final draft is due on November 25.
Instructions for the research paper will be discussed in depth on the second day of
class; I will also produce a document with lots of guidance. I will also – assuming
past students are willing – be offering some model assignments to go on.
3. Brief Presentation: 10% of the final grade. These are very brief (~4 minute)
presentations that will occupy the classes at the end of the course. The precise
format will be announced in class.
4. Class Participation: 15% of the final grade. IPE is all about interaction: you are
expected to keep up to date with current affairs and take part in class discussions. See
below for more info.
Grading is done similar to a GPA. Every assignment will be scored on an A – F scale (each
exam essay question is graded separately and then averaged into your overall exam score)
using the 4.0 = A etc. system. All your final scores are then mashed together as a weighted
average. Rounding is used, so a 3.83 overall is the minimum for an A. A 3.45, for instance,
is a B+. A grading rubric for exams will be posted on blackboard.
NB: Being up to date on current affairs will require accessing news sources such as The
Economist, The Wall Street Journal, the Washington Post etc. It is also useful to tap into
foreign sources if possible, such as BBC, Vox EU and Al-Jezeera. Alternative perspectives are
always encouraged. This is considered part of your required reading. We will be discussing
news in almost every class.
Instructions for Class Participation & Attendance Policy:
IPE is a subject that sparks intense debate! You’re likely to disagree with your fellow students
on many of the issues that arise; those debates will be a key part of our class discussion. I also
understand that pushing yourself into a whole-class discussion can be a challenge at times.
Every day, we will have a structured opportunity for participation: a discussion of propositions.
This works as follows:
At the end of every class, I will provide a prompt for you to think about before the next session.
It might be a question, a request to provide an interesting thought, or a challenge to provide an
opinion on some controversial idea – all related to both the readings and to our topic for the
next class.
Every student must turn in their one-sentence proposition at the beginning of every class. The
best way to do this is for you to buy a set of 3x5 notecards (get a pack with a classmate; 1000
cost like 6 bucks on Amazon) then turn in one notecard each class. The idea is to provide
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something to spark discussion – not to generate extra work. Each class, we will use your
propositions to guide class discussions in different ways. This means that sometimes you may
need to defend your proposition to the class... so give it some thought!
Propositions are also a major part of your participation grade – though partaking in class
discussions counts too. It is also how I will keep attendance; you must write your name on
them. You are allowed two absences for any reason. If you miss more than this, points will be
taken off your participation grade unless there is some sort of mitigating circumstance. Make
sure to let me know if you are absent and don’t want it to count against you – I am
understanding but need to be kept in the loop!! Points will also be taken off repeatedly
submitting…. shall we say… dodgy propositions. That is, ones which show that you did not do
the readings or give much thought to the prompt.
Late Policy:
You are expected to hand in work on time. I know deadlines all get smashed into the same
few weeks; I was in school myself not so very long ago. Nevertheless, I have a policy of a
relatively HARD deadline because you need to manage these pressures without letting
balls slip!
The research paper is due on November 25. THESE MUST BE EMAILED TO ME BY
MIDNIGHT ON November 25. Papers handed in November 26 will be penalized 1/3 of
a grade. This is for people who think that the extra day may be worth the penalty
(sometimes they’re right). Papers handed in between by December 2 will receive a
maximum “C” grade. Anything after that is an “F.” Seriously!
And to be clear, you are responsible for making sure that you attach the correct file to your
email! The “wrong attachment” excuse for late submissions was invented in the days of
CompuServe. I’m not buying it when you come back three days late and claim to have
“accidentally” submitted a rough draft or blank attachment.
If you have some sort of extreme mitigating circumstance (it happens). It is important to let
me know BEFORE rather than AFTER the fact. I am understanding of many things. Three
things I am not as understanding of: (1) Computer failure. By now, you should know to be
backing up to a cloud or something similar. (2) Being overwhelmed by other work. This
assignment is given early precisely so that you can knock it out early if you need to. Don’t
get caught with 8000 things to do on the last few days. (3) Last-minute stuff in the few days
before it's due. You shouldn’t be in a situation where a final-weekend event means you
can’t finish. If something comes up, that’s why the one-day-late penalty is pretty light.
Textbook
We will make extensive use of one textbook:
Oatley, Thomas (2012), International Political Economy, 5th Ed.
All other readings will be available through electronic reserves or in the library.
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Course Schedule
Week 1: International Political Economy as a Discipline
1) Tuesday, August 26: Studying IPE
 No readings
2) Friday, August 29: Theoretical Traditions in IPE
 Ravenhill, John (2011), “The Study of Global Political Economy,” in Ravenhill, ed.,
Global Political Economy, 3rd ed. (pp. 3-28)
Week 2: International Trade, Part I
3) Tuesday, September 2: Social Science Methodology & Your Papers
 Geddes, Barbara (1990), "How the Cases You Choose Affect the Answers You Get,"
Political Analysis 2 (pp. 131-149)
4) Friday, September 5: The International Trading System
 Oatley, Thomas (2012), International Political Economy, 5th Ed. (chapter 2)
Week 3: International Trade, Part II
5) Tuesday, September 9: Comparative Advantage, and Protectionism
 Oatley, Chapter 3
 Recommended: Coughlin, Chrystal, and Wood (2000), “Protectionist Trade Policies: A
Survey of Theory, Evidence and Rationale,” in Frieden, and Lake, eds. International
Political Economy: Perspectives on Global Power and Wealth (pp. 302-308)
6) Friday, September 12: Trade and Domestic Adjustment
 Irwin, Douglas (2009), Free Trade Under Fire (chapter 3)
 Scott, Robert (2012), "The China Toll," Economic Policy Institute.
(http://www.epi.org/publication/bp345-china-growing-trade-deficit-cost/)
Week 4: International Trade, Part III
7) Tuesday, September 16: Trade and Development, Part 1
 Oatley, Chapter 6-7
 Ferraro (2008), “Dependency Theory: An Introduction,” in Secondi, ed., The
Development Economics Reader (pp.58-64)
(https://www.mtholyoke.edu/acad/intrel/depend.htm)
8) Friday, September 19: Trade and Development, Part 2
 Continued from previous class
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Week 5: Immigration & Multinational Corporations
9) Tuesday, September 23: Immigration
 Huntington, Samuel P. (2004) "The Hispanic Challenge," Foreign Policy.
(http://www.foreignpolicy.com/articles/2004/03/01/the_hispanic_challenge)
 Papademetriou and Newland (2014), "How Migration Can Advance Development
Goals," Migration Policy Institute. (http://www.migrationpolicy.org/research/howmigration-can-advance-development-goals)
10) Friday, September 26: The Costs and Benefits of MNCs
 Oatley, Chapter 9
 Drezner, Daniel (2000). "Bottom Feeders," Foreign Policy
(http://www.foreignpolicy.com/articles/2000/11/01/bottom_feeders)
Week 6: “Embedded Liberalism:” The Postwar Monetary Order
Tuesday, September 30: Midterm Examination
11) Friday, October 3: Introduction to International Economics
 No readings
Week 7: The International Monetary System, Part I
12) Tuesday, October 7: Evolution of the International Monetary System
 Helleiner, Eric (2011), “The Evolution of the International Monetary and Financial
System,” in Ravenhill, ed., Global Political Economy, 3rd ed. (pp. 215-241)
Friday, October 10: NO CLASS!
Week 8: The International Monetary System, Part II
13)Tuesday, October 14: The Current System
 Oatley, Chapters 10-11
14) Friday, October 17: The Dangers of Monetary Interdependence
 Strange, Susan (1986), Casino Capitalism (chapter 1)
Week 9: International Economic Crises, Part I
15) Tuesday, October 21: International Crisis Transmission
 Kindleberger and Aliber (2005), Manias, Panics, and Crashes: A History of Financial
Crises, 5th ed (chapters 7-8)
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16) Friday, October 24: Sovereign Debt
 Herman, Barry (2007), “The Players and the Game of Sovereign Debt,” in Barry,
Herman, and Tomitova, eds., Dealing Fairly with Developing Country Debt (pp. 9-40).
Week 10: International Economic Crisis, Part II
17) Tuesday, October 28: The Latin American Debt Crisis
 Oatley, Chapter 14
18) Friday, October 31: The Financial Crisis and Europe
 Jones and Fuller (2014), “Europe and the Global Economic Crisis,” in Jones and
Tiersky, eds., Europe Today: A 21st Century Introduction
Week 12: Austerity and Power
19) Tuesday, November 4: The Austerity Debate
 Blyth, Mark (2013), The Austerity Delusion: Why a Bad Idea Won Over the West.
Foreign Affairs (May/June 2013) (http://www.foreignaffairs.com/articles/139105/markblyth/the-austerity-delusion)
 Aslund, Anders (2013), “Why Austerity Works and Stimulus Doesn’t,” Bloomberg, January 7.
(http://www.bloomberg.com/news/2013-01-07/why-austerity-works-and-fiscal-stimulus-doesnt.html)
20) Friday, November 7: Hegemony
 Milner, Helen (1998), “International Political Economy: Beyond Hegemonic Stability,”
Foreign Policy 110
 Recommended: Kindleberger, Charles (1986), The World in Depression, 1929-1939
(chapter 14)
Week 11: Making International Coordination Work?
21) Tuesday, November 11: G-?
 Calleo, David (2009), Follies of Power: America’s Unipolar Fantasy (chapters 1, 7)
 Ferguson, Niall (2010), “The End of Chimerica: Amicable Divorce or Currency War?,”
testimony before the House Ways and Means Committee, March 24.
(http://belfercenter.ksg.harvard.edu/publication/20029/end_of_chimerica.html)
22) Friday, November 14: Reforming International Institutions
 The Guardian (2013), “Reforming the UN Security Council: Mañana Mañana,” The
Guardian (http://www.guardian.co.uk/commentisfree/2013/may/06/un-security-council)
 IMF Survey Magazine (2011), “Important Milestone Reached to Reinforce IMF
Legitimacy,” International Monetary Fund, March 3
(http://www.imf.org/external/pubs/ft/survey/so/2011/NEW030411A.htm)
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Week 12: Resources and Inequality
23) Tuesday, November 18: Contending with the “Resource Curse”
 Humphries et al. (2007), “Introduction: What is the Problem with Natural Resource
Wealth?” in Humphries, Sachs, and Stiglitz, eds., Escaping the Resource Curse (pp. 2140).
 Recommended: Ross, Michael (2001), “Does Oil Hinder Democracy,” World Politics 53(3) April
(pp. 325-361)
24) Friday, November 21: Inequality
 Wade, Robert H. (2011), “Globalization, Growth, Poverty, Inequality, Resentment, and
Imperialism,” in Ravenhill, ed., Global Political Economy, 3rd ed. (chapter 12)
Week 13: Presentations, Part I
25) Tuesday, November 25: Presentations 1
PAPERS DUE
Friday, November 28: NO CLASS!
Week 14: Presentations, Part II
26) Tuesday, December 2: Presentations 2
 No New Readings
27) Friday, December 5: Presentations 3
 No New Readings
FINAL EXAM TIME/LOCATION TBD...
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Information for all Students
Standards of Academic Conduct: They are set forth in American University’s Academic
Integrity Code (AIC). By registering for this course, you acknowledge your awareness of the
AIC, and you are obliged to become familiar with your rights and responsibilities as defined
by the Code. Violations of the AIC will not be treated lightly, and disciplinary actions will be
taken should violations occur. Please contact me if you have any questions about the
academic violations described in the Code in general or as they relate to particular
requirements for this course, and I encourage you to familiarize yourself with the AIC at
www.american.edu/academics/integrity/code.cfm. Finally, please let me know if you become
aware of any violations of the AIC by other students.
In the Event of an Emergency: AU will implement a plan for meeting the needs of all
members of the university community. Should the university be required to close for a period
of time, we are committed to ensuring that all aspects of our educational programs will be
delivered to you. These may include altering and extending the duration of the traditional
term schedule to complete essential instruction in the traditional format and/or use of
distance instructional methods. Specific strategies will vary from class to class, depending
on the format of the course and the timing of the emergency. I will communicate classspecific information to you via AU e-mail and/or Blackboard, and you are responsible for
checking your AU email on a daily basis and for keeping yourself informed of any declared
emergencies. Please refer to the AU Student Portal, the AU Web site
www.american.edu/emergency and the AU information line at (202) 885-1100 for universitywide information.
AU provides numerous services to help students to be successful in their coursework: the
Academic Support Center, the Counseling Center, Disability Support Services, the Writing
Center and Writing Lab, and the Center for Diversity and Inclusion, most of which are
located in the Mary Graydon Center (MGC).
Academic Support Center (x3360, MGC 243) offers study skills workshops, individual
instruction, tutor referrals, Supplemental Instruction, and services for students with learning
disabilities and ADHD. Writing support is available in the ASC Writing Lab or in the Writing
Center. If you qualify for accommodations because of a disability, please notify me in a
timely manner with a letter from the Academic Support Center or Disability Support Services
so that we can make arrangements to address your needs.
Counseling Center (x3500, MGC 214) offers counseling and consultations regarding
personal concerns, self-help information, and connections to off-campus mental health
resources.
Disability Support Services (x3315, MGC 206) offers technical and practical support and
assistance with accommodations for students with physical, medical, or psychological
disabilities. If you qualify for accommodations because of a disability, please notify me in a
timely manner with a letter from the Academic Support Center or Disability Support Services
so that we can make arrangements to address your needs.
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Writing Center (x2991, Battelle-Tompkins 228) offers free, individual coaching sessions to
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address assignments, understand the conventions of academic writing, and learn how to
revise and edit your own work. The Center offers appointments on the hour from 11 AM to 9
PM Monday through Thursday; 11 AM to 4 PM Friday, and 3 to 6 PM on Sundays.
Center for Diversity and Inclusion (x3651, MGC 2nd fl.) is dedicated to enhancing LGBTQ,
Multicultural, First Generation, and Women’s experiences on campus and to advance AU’s
commitment to respecting and valuing diversity by serving as a resource and liaison to
students, staff, and faculty on issues of equity through education, outreach, and advocacy.
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