Political Economy of Globalisation (Fast Track) FFEC910S4ACB

Transcription

1 Certificate of Higher Education ECONOMICS ACADEMIC YEAR 2016/2017 MODULE OUTLINE Political Economy of Globalisation (Fast Track) FFEC910S4ACB CLASS DETAILS First Meeting Thursday 12 Jan 2017, pm (11 Meetings plus 2 Saturday schools) Term Dates 12 January 2017 to 23 March 2017 Saturday School Module taught by 21 Jan & 11 March Dr Alan Hooper Please be aware that students should not be attending any classes until they have formally enrolled Whilst we endeavour to teach on the Saturdays listed in the module outline, dates are liable to alteration after the module has begun. 1

2 Contents MODULE DESCRIPTION... 3 COURSEWORK AND ASSESSMENT... 4 REFERENCES... 5 READING LISTS... 6 WEEK-BY-WEEK BREAKDOWN... 7 ESSAYS Please read the Certificate of Higher Education Economics Student Handbook carefully for information and College policies regarding your studies. 2

3 MODULE DESCRIPTION Aims To examine critically the acceleration in global economic integration during the last quarter of a century and the political processes shaping it, with the intention of understanding the key trends that have developed in this period. These include the transformation of the division of labour in the world economy, the opening up to western companies of the markets of the so-called socialist states, the mass migrations of working people to the more successful economies, the changing regional arrangements between states and the creation of policies to promote or resist globalisation. The different political arguments that have encouraged more extensive and intensive economic relationships worldwide will be assessed. The objections to these arguments will also be discussed. The ways this process of 'globalisation' is likely to continue will be considered. The historical evolution of globalisation will be set out. Starting from the economic justification for the trade in ordinary commodities, the growth of trading markets the trade in services and their relation to the means of communication will be analysed. Next the role of the international financial markets and their extension and liberalisation will then be looked into. This then leads to the study of the movement in capital and the role of the international capital markets in global development. The corresponding political arrangements which have stimulated or accommodated these economic pressures will be examined at the same time. The institutions that have come to regulate international trade and development will be discussed, both in respect to their successes and to there apparent failures. Regional economic developments such as NAFTA/AAFTA, the EU and Mercosur will be studied in relation to the growing globalisation process and its political consequences. This will also involve understanding any counteracting political and social processes or obstacles to greater internationalisation of all our daily lives. An assessment will be made of key industries which are global, their political influence and effect on world economic development and the broader sense of globalisation as deepened interdependence and commonality. The environmental and ecological issues arising from the underlying economic transformations, as well as demographic phenomena, will be studied. Student Outcomes 1) Students understand the different notions of 'globalisation' and to understand the forces in international politics and economics that have created the current level of global integration. 2) Students understand the function and purpose of the key international economic institutions in the international economy. 3) Ability to manage the key concepts evolved to explain the growth of international trade, international investment and the changing role of the State. 4) Understanding of the economic and political relationships between the poor countries of the world, the developing and developed states. 5) Understanding of the social and political significance of the integration of the world economy 6) Ability to research relevant material, present ideas and information in class, and on paper in the form of essays/reports Teaching Arrangements Teaching and learning takes place by means of lectures, seminars and class presentations by students individually or in groups. 3

4 COURSEWORK AND ASSESSMENT Students will be expected to prepare essays for formal assessment and to undertake a compulsory in-class assessment. Assessment will consist of three elements: 1. Coursework amounting to 3,000 words in total to be made up of two assignments of 1,500 words each, to be submitted by weeks 5 and 10. These assignments will account for 60% of the total mark. The final deadline for submission of coursework to the class tutor is the final class (week 11 for both essays). Assignments submitted after the deadline will not be assessed unless a mitigating circumstances form and supporting evidence has been submitted (further information see Student Handbook). 2. A compulsory in-class assessment will take the form of unseen questions to be answered within 2 hours which will carry 40 % of the possible marks. This will take place in week 11. There will be a central re-sit date allocated for those who provide evidence that they cannot attend the unseen assessment in week In-class participation will be assessed as pass/fail. Criteria include regular contributions to class (e.g. group-work, discussions, mini-presentations or other exercises), awareness of required reading, listening/communication skills. All assessment must be passed to be eligible for credit. Please keep a copy of all work you submit. You may produce up to two trial assignments if you wish which can be used for feedback. The course lecturer will give suggestions for improvement. These will NOT go forward for final assessment 4

5 REFERENCES Please ensure that: you use appropriate footnoting or end noting, all references consulted, and all quotations reproduced, are properly cited, including where necessary specific page references, you include a full Bibliography representing the actual texts consulted you use texts that are written in English only It is essential that you reference sources correctly. If you fail to reference sources correctly, you run the risk of plagiarising. If a student s work is proven to be plagiarised, this can result in the student automatically failing the course. The referencing formats below are widely adhered to in Economics: BOOK-1 AUTHOR SURNAME, INITIAL(S). YEAR. TITLE, CITY: PUBLISHER. EXAMPLE: Denoeux, G Urban Unrest in the Middle East: A Comparative Study of Informal Networks in Egypt, Iran and Lebanon. New York: State University of New York Press. BOOK-2 OR 3 AUTHORS SURNAMES, INITIALS. YEAR. TITLE, CITY: PUBLISHER. EXAMPLE: Buzan, B., O. Wever, and J. de Wilde Security: A New Framework for Analysis. Boulder, CO: Lynne Rienner. BOOK-4 OR MORE AUTHORS SURNAME(S), INITIAL(S) ET AL., EDS. (IF RELEVANT) YEAR. TITLE, CITY: PUBLISHER. EXAMPLE: Held, D. et al., eds Debating Globalization. Cambridge: Polity Press. BOOK-SECOND OR LATER EDITION SURNAME(S), INITIAL(S). YEAR. TITLE, NUMBER EDITION, CITY: PUBLISHER. EXAMPLE: Calvocoressi, P World Politics since th edition. London: Longman. CHAPTER IN (EDITED) BOOK SURNAME(S) CHAPTER AUTHOR, INITIAL(S). YEAR. TITLE OF CHAPTER, IN SURNAME(S), INITIAL(S), ED(S). TITLE OF BOOK. CITY: PUBLISHER, PP:. EXAMPLE: Murphy, C Why Pay Attention to Global Governance?, in Wilkinson, R., and S. Hughes, eds. Global Governance: Critical Perspectives. London: Routledge, pp. xi-xvii. JOURNAL ARTICLE SURNAME(S), INITIAL(S). YEAR. TITLE OF ARTICLE. NAME OF THE JOURNAL VOLUME(ISSUE NUMBER): PAGE NUMBERS. EXAMPLE: Martin, L., and B. Simmons Theoretical and Empirical Studies of International Institutions. International Organization 52(4): NEWSPAPER ARTICLE SURNAME(S), INITIAL(S). YEAR. TITLE OF ARTICLE. TITLE OF NEWSPAPER, DAY MONTH BEFORE PAGE NUMBER AND COLUMN LINE. EXAMPLE: Glapper, R Transnational corporate recruitment and the welfare state: Pressing issues for governments and lawyers. The New Times, 4 Sep. p.4b. WEB PAGE SURNAME(S), INITIAL(S). YEAR. TITLE. PLACE OF PUBLICATION, PUBLISHER (IF ASCERTAINABLE). AVAILABLE FROM: INTERNET ADDRESS [ACCESSED DY/MNTH/YR]. EXAMPLE: Zuttel, F., and M. Hobland References: Harvard systems. Powle, Burnemouth University. Available from: [Accessed 18 November 2002]. 5

6 READING LISTS Purchase of some or all advisable (but not before the first class as we occasionally have to cancel classes) Books; please note the following: Your lecturer will be able to advise you on the most useful books once your course has started. We recommend that students do not buy books until the course has started as we occasionally have to cancel classes. Key Text: Dicken P 'Global Shift: mapping the changing contours of the world economy' 5 th edn. Sage, 2007 ISBN This book should be bought and will be used as the key text throughout the module Additional general texts: Baldwin RE,Winters LA (eds),challenges to Globalization. Analyzing the Economics (U. of Chicago P.,2004) Gilpin, R. Global Political Economy: Understanding the International Economic Order. Princeton, Oxford Gowan.P. The Global Gamble Verso,1999 Harvey, D. The New Imperialism. OUP,2003 Hoekman B M and Kostecki M M 'The Political Economy of the World Trading System' 2nd edition OUP 2001 James H The End of Globalisation: Lessons from the Great Depression 270pp. Harvard UP Krugman P R. Obstfeld M International Economics: Theory and Policy 7/E Addison Wesley ISBN X MacGilllivray A. A Brief History of Globalization, Robinson,2006 Noberg, J. In Defense of Global Capitalism Cato Institute, Washington 2003 Ravenhill J (ed) Global Political Economy (OUP,2005) Wolf, M. Why Globalisation Works Yale University Press 2004 Woods N (ed) The Political Economy of Globalization, St.Martins, 2000 Youngs G, Global Political Economy in the Information Age Power and Inequality, Routledge,2007. Good bookshops include: The LSE Bookshop; Waterstones; Foyles; Secondhand Stores: Skoob Books, Judd Books Websites: abebooks.co.uk amazon.co.uk Popular Literature on the topic Freidman, Thomas: The Lexus and the Olive Tree. Harper Collins 1999 ( an optimistic view ) Gray. J. False Dawn, The Delusions of Global Capitalism Granta 1998 ( a pessimistic view) Hertz, Noreena The Silent Takeover: Global Capitalism and the Death of Democracy Heinemann 2001 Klein, Naomi No Logo: Taking Aim at the Brand Bullies Picador 1999 Levinson M., The Box ( Princeton UP, 2006) Micklethwait.J, Wooldridge A. A Future Perfect: The Challenge and hidden Promise of Globalisation Heinemann 2000 OTHER SOURCES Journals and Newspapers OECD Observer; Review of International Political Economy, The World Economy, International Studies Quarterly, Journal of World Trade, New Political Economy, 6

7 WEEK-BY-WEEK BREAKDOWN The readings given below for each topic are in no sense comprehensive or required reading. An indication is given of the relevant chapters in the set texts, together with an identification of some of the better works dealing with the topics specified. WEEK-BY-WEEK BREAKDOWN Week I Introduction : Political Economy of Globalisation The meaning of 'globalisation'. The discussion over its significance and characteristics. Hyper-globalists, sceptics. and transformationalists Dicken ch 1 Held D,McGrew A (eds),the Global Transformations Reader. An Introduction to the Globalisation Debate, Polity,2000 Hirst P,Thompson G, Globalisation in Question, Polity,1999 Hutton W,Giddens A(eds)Global Capitalism, New Press,2000 Lechner F,,Boli J (eds), The Globalisation Reader, Blackwell,2004 Saul J, The Collapse of Globalism and the Reinvention of the World, Atlantic, 2005 Scholte JA, Globalisation: A Critical Introduction, Palgrave, 2005 Waters M, Globalisation, Routledge,2007 Week 2 Globalisation : origins and patterns Empires, states and markets. Dicken ch, 2 Hardt M,Negri A, Empire, Harvard UP,2000 Hopkins AG (ed), Global History.Interactions between the Universal and the Local Palgrave,2006 Kenwood AG,Lougheed AL, The growth of the International Economy, , Routledge, 1999 Maddison A, Contours of the World Economy AD (Oxford,2007) O Rourke KH,Williamson J,Globalization and History,The Evolution of a Nineteenth-Century Atlantic Economy, MIT Press,1999 Spero J E The Politics of International Economic Relations Ch 2 and 3 Wood EM, Empire of Capital,Verso,2003 Day School: Understanding Globalisation 10am-5pm (lunch 12-1) During this day school we will reflect upon the origins of globalization and theories concerning its development and implications. Students will be expected to make a contribution to one of these areas and the written-up version of the presentations will constitute the first assessment. The relevant reading material should come from Dicken (pt1) and the general literature on globalization listed above. Week 3 Trade: comparative, competitive and regulated Theories and strategies of international trade. Absolute and comparative advantage.new thories of international trade.the regulatory framework: bilateral and multilateral trade agreements. Dicken ch.5 Hocking B.,McGuire(eds) Trade Policies, Routledge,2004 Hoekman and Kostecki op cit Ch 1, Ch 11 and Annex 2 Economic Effects of Trade Policy Basic concepts 7

8 Lang T,Hines C, The New Protectionism. Protecting the Future against Free Trade, Earthscan 1993 Nicholls, Opal C, Fair Trade. Market-Driven Ethical Consuption. Sage,2005 Pomeranz K./Topik S, The World That Trade Created. Society, Culture and the World Economy.1400 to the present (M.E.Sharpe,2006) Stiglitz J, Charlton A, Fair Trade for All. How Trade can promote development(oup,2005) Unger R, Free Trade Reimagined (Princeton UP,2007) For international competitiveness and Week 4 Finance: fixed, floating and dirty The origins of international financial regimes.national currencies and exchange rates.the emergence of international currencies: sterling, the dollar and the euro. Global financial turbulence and its avoidance. Eatwell J, Taylor L, Global Finance at Risk. The Case for International Regulation,( Polity,2000) Eichengreen B, Globalizing Capital. A History of the International Monetary System, (Princeton UP,1995) Eichengreen B, Capital Flows and Crises (MIT Press, 2004) Mishkin F., The Next Great Globalization. How Disadvantaged Nations Can Harness their Financial Systems to get Rich, Princton,2006 Porter T, Globalization and Finance, Polity, 2005 Stiglitz J.,Making Globalization Work (Penguin, 2006) Current Account to GDP data for many states, on Flow of Funds Accounts of the United States Week 5 The role of the State in the twenty first century. The state as a container and facilitator of economic activity.the challenge of globalization, The pursuit of competitive advantage. Harris N, The Return of Cosmopolitan Capitalism. Globalization, the state and war, I.B. Tauris,2003 Helleiner E, Pickel A,( eds) Economic Nationalism in a Globalizing World, Cornell UP,2005 Hutton W, The Writing on the Wall. China and the West in the Twenty-First Century, Little, Brown,2006 Panic M, Globalization and National Economic Welfare, Palgrave,2003 Porter M, The Competitive Advantage of Nations, Macmillan,1990 Smith D, The Dragon and the Elephant. China, India and the New World Order, Profile,2007 Stopford J., Strange S., Rival States and Rival Firms. Competition for World Market Shares (CUP, 1991) Week 6Technology and Economic Development Theories concerning technology s contribution to economic development. Types of technological utilization: accessible, appropriate and applicable. Regimes of technological development. Castells M, The Rise of the Network Society,vol I, Blackwell,1996 Dicken, ch 3 Dunning JH (ed), Regions, Globalization and the Knowledge based-economy (OUP,2007) Gibbon P/Ponte S, Trading Down Africa, Value-Chains and the Global Economy (Temple,UP,2005) 8

9 Week 7 Transnational corporations A review of the present position. Explanations for the activity. Nature and history. FDI and Portfolio investment. Current trends. Banking investments. The results for home and host country. The arguments for and against controls. The 'Washington Consensus'. Plunder or progress? Dicken chs 4,16 Dunning JH, Multinational Enterprises and the Global Economy, Addison Wesley,1993 Hoekman and Kostecki Ch 13 US Foreign Investment ( click 'international data') on UN World Investment Report gives annual FDI data, as does the OECD. For the limited Web access to the WDR see See International Investments Yearbook of OECD at Week 8 Regionalism Types of regional organisations. Trade creation and trade diversion.the development of the EU and other regional organisations ( NAFTA, ASEAN, APEC and Mercosur).From GATT to WTO. Dedman MJ,The Origins and Development of the European Union ,Routldge,1996 Giordano F,Persaud S,, The Political Economy of Monetary Union. Towrds the euro, Routledge,1998 Farrell M et al (eds), Global Politics of Regionalism. Theory and Practice, Pluto,2005 Melo de J, Panagoriya (eds) New Dimensions in Regional Integration, CUP,1992 Pomfret R, The Economics of Regional Trading Arrangements, OUP,1997 Week 9 International Organisations The development of international organisations: governmental and non-governmental. Their impact in shaping globalization: neo-liberalism and global civil society. Boas M, McNeill D, Multilateral Institutions. A Critcal Introduction, Pluto,2003 Bradford CI/Flinn(eds) Global Governance Reform (Brookings Inst.,2007) Dobson A, The Group of 7/8, Routledge, 2007 Kahler M, Lake D.A.,(eds) Governance in a Global Economy, Princeton UP, 2000 Mallaby S,, The World s Banker, Yale UP,2004 Narlikar A, The WTO, OUP,2005 Woods N, The Globalizers. The IMF, the World Bank and their Borrowers, Cornell Up,2006 Day School: Managing Globalisation 10am to 4pm (lunch 12-1) During this day school we will examine key sectors of the global economy and key socio-political issues facing the global economy, respectively parts 3 and 4 of Dicken. Students will be expected to make presentations in one of the two areas and these will provide the basis for their second written assessment. A guest lecturer to speak on a major global issue may be invited. The presentations-in the day-school and in the essay- should focus upon: 1.recent developments in the area considered ; 2.their relationship to the phenomenon of globalization;3, their implications, with a special emphasis upon policy responses. Two examples- with bibliographic details- of topics that might be studied from the two areas are given below The energy sector The pursuit of oil: political and environmental implications. Alternatives: renewables and nuclear. Clarke D, The Battle for Barrels. Peak Oil Myths and World Oil Futures,Profile,2007 Kaldor M et al (eds) Oil Wars, Pluto,2007 Leggett J, Half Gone. Oil, Gas, Hot Air and the Global Energy Crisis, Portobello,2005 9

10 Roberts P, The End of Oil, Bloomsbury,2004 Stern A, Who won the oil wars?, Collins & Brown,2005 The trade in services Their nature and 'internationalisation'. Transnational service conglomerates. Tourism. The information industry. Research and development as an industry. Financial services. Electronic commerce. Gats. The WTO Doha round. Intellectual property. Dicken Chs 13,14 Hoekman and Kostecki op cit Ch 7 Daniels P W Service Industries in the World Economy Blackwell 1993 Henderson D The MAI Affair, A Story and Its Lessons RIIA 1999 International Intellectual Property Association see For WTO see for UN statistics see Migration Causes and consequences. Migration and development. Socio-political repercussions. Castles.S and Miller M The Age of Migration: International Population Movements in the Modern World Macmillan /E Harris N, Thinking the Unthinkable. The Immigration Myth Exposed, I.B. Tauris,2002 Koser K, International Migration, OUP, 2007 Legrain P, Immigrants. Your Country Needs Them, Little, Brown,2007 Munck R, Waterman P. (eds), Labour Worldwide in the Era of Globalisation: alternative union models in the New World Order, Macmillan, 2002 Spellman W,The Global Community. Migration and the Making of the Modern World, Sutton,2002 US and 'foreign' labour wage rates are compiled on data on immigration to US on The question of global poverty. The Lomé Conventions. Debt and Structural adjustments. The role of NGO's and the UNO. The causes of poverty. Health and disease. AIDS and the question of pharmaceutical production. Resolving the issues. 'Egalité, fraternité et liberté? International Aid. Its use, direction and purpose. State loans, guarantees, or gifts. Tied aid. The effect on recipient States. Do international financial institutions have a future? Reading M.Davis, Planet of Slums, Verso,2006 Dicken pt iv George V, Wilding P, Globalization and Human Welfare, Palgrave, 2002 Held D., Kaye A (eds), Global Inequality, Polity,2007 Kapstein E., Economic Justice in an Unfair World (Princeton UP, 2006) Sachs J, The End of Poverty, Penguin, 2005 Todaro M Economic Development 7/E Addison Wesley 2000 Spero J E op cit Ch 2 and 6 Week 10 Prospects Celebrants and critics of globalization: towards crisis or consolidation? Cohen D, Globalisation and its Critics, MIT Press,2006 Commission for Africa, Our Common Interest, Penguin, 2005 Dunning J.H., (ed) Making Globalization Good. The Moral Challenge of Global Capitalism, 10

11 OUP, 2003 Guest R, The Shackled Continent. Africa s Past, Present and Future, Macmillan, 2004 Held D,McGrew A, Globalization/ Antiglobalization, Poliy,2002 Mason P, Live Working or Die Fighting.How the Working Class Went Global, Harvill Secker,2007 Munck R, Globalization and Contestation, Routledge, 2007 Ohmae K, The Next Global Stage. Challenges and Opportunities in Our Borderless World, Wharton, 2005 Week II Class test- 2 hours; resume and reflection upon course 11

12 ESSAYS Essay one week 5 Essay two week 10 12