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GLB5210 Foundation of Global Political Economy: Home

Course Description

This course focuses on the political foundations and consequences of the contemporary world economy and the dynamic and complex interaction between state and market, and power and wealth. It addresses the major theoretical approaches to study international political economy and debates among different schools in the field. This course also surveys the evolution of the international economic systems since the Second World War, with particular reference to the post-Cold War international political and economic order. It will discuss the concrete and important issues in international political economy such as international trade, finance, production and the increasing connection between domestic political economy and international political economy under the context of globalization.

Recommended Books

Analyzing the Global Political Economy

This is a textbook in international political economy. Focusing on the core issues of international trade, money and finance, and production, this textbook primarily intends to demonstrate the benefits of a critical engagement of IPE with economics. Contents in this textbook cover the definition of international political economy, the emergence of a multilateral trading system, the political economy of trade, the evolution of the international monetary system, the consequences of international financial integration, the political economy of foreign direct investment, the regulation and policy consequences of foreign direct investment. This textbook ends with reflections on some broader questions regarding progress, interaction between trade and money, etc.

Global Political Economy: Contemporary Theories

This is a revised, updated, and expanded edition of the original publication in 2000. Eighteen contributions address new trends in Global Political Economy; concepts and themes in Global Political Economy such as state, firm, power, labor, finance and globalization; theoretical innovation and contemporary debates such as game theory, behavioral economics, neo-, sociological and evolutionary institutionalism, neo-Marxism, development and post-development, libidinal economics, and economic constructivism; and emerging issues in contemporary Global Political Economy such as war, state and International Political Economy, race, gender and culture, environmental politics, and the rise of China.

An Inquiry into the Nature and Causes of the Wealth of Nations

Adam Smith develops his theory of economics, politics, and morality. Smith argues that it does not actually matter if societies are mainly driven by self-interest, since the overall effect is good. The ‘invisible hand’ of the free market makes sure that individuals acting to their own highest benefit end up elevating the whole. Smith believes that how wealthy a country becomes depends more than anything on the organization of its labor force. In Smith’s view, a nation grows rich by way of saving and trade, and looting, wars, and luxuries are dispensed. Smith also assumes that people should be free to follow their economic interests with minimum government interference.

Recommended Databases