Unit 2779: International Political Economy

1. Introduction to International Political Economy

• Definition and scope of IPE
• Relationship between politics and economics on a global scale
• Key actors in the international system: states, international organizations, multinational corporations, non-governmental organizations
• Importance of the interplay between politics and economics in shaping global outcomes

2. Theories of International Political Economy

• Overview of major theoretical perspectives
  • Liberalism: free markets, comparative advantage, and the role of institutions
  • Mercantilism: state power, protectionism, and economic nationalism
  • Marxism: class struggle, capitalism critique, and global inequalities
  • Constructivism: role of ideas, norms, and identity in economic relations
• Comparative analysis of theories in explaining international economic phenomena

3. Trade and Globalization

• The role of international trade in the global economy
• Globalization and economic interdependence among nations
• International trade agreements and organizations
  • World Trade Organization (WTO): functions and dispute settlement
  • Regional trade agreements (overview)
• Impacts of globalization: benefits and challenges

4. International Monetary Relations

• The international monetary system: history and evolution
• Exchange rates and currency regimes (fixed, floating, managed)
• Financial crises: causes, types, and global impacts
• International financial institutions
  • International Monetary Fund (IMF): roles and conditionality
  • World Bank: development financing and poverty reduction

5. Development and Underdevelopment

• Concepts of economic development and underdevelopment
• Colonial legacies and their impact on the global South
• Structural adjustment programs: objectives and controversies
• Foreign aid: types, effectiveness, and criticisms
• Challenges in achieving Sustainable Development Goals (SDGs)

6. Transnational Corporations and Global Capitalism

• Definition and characteristics of transnational corporations (TNCs)
• Impact of TNCs on national sovereignty and policy autonomy
• Labor standards and environmental sustainability concerns
• Corporate social responsibility (CSR): debates and practices

7. Regional Economic Integration

• Concept and stages of regional economic integration
• Case studies:
  • European Union (EU): history, institutions, and economic impact
  • North American Free Trade Agreement (NAFTA)/United States-Mexico-Canada Agreement (USMCA)
  • Association of Southeast Asian Nations (ASEAN)
• Implications for trade, investment, and economic cooperation

8. Global Economic Governance

• Definition and significance of global economic governance
• Key actors and institutions:
  • Group of Seven (G7)
  • Group of Twenty (G20)
  • United Nations Conference on Trade and Development (UNCTAD)
• Efforts to address global economic challenges and foster international cooperation
• Future prospects and challenges in global economic governance