This course examines the relationship between power and wealth in the development and functioning of the modern world economy.  We focus on the ways in which political forces affect the economic choices of states, firms and individuals in international trade, investment, and monetary affairs.  To a lesser extent, we will also explore how international economic forces influence national politics.  These concerns will be related to the national competiveness of individual states and patterns of cooperation and conflict in the international system more generally.

Exams and Papers

 Students will be asked to prepare four essays during the term on questions provided by the instructor. Essay questions will be distributed in class on unannounced dates. Students will have until 4:30 the following day to submit essay answers. Expected length is roughly 3 pages. There will be six essay opportunities during the term. Each essay will account for 15% of your total grade. A cumulative take home final exam will account for 30% of your total grade. Finally, class participation will account for 10% of your grade.

 Extra credit is available. The instructor will pose questions about the assigned readings at the beginning of each class. Each student will have an opportunity to answer four questions during the term. Each correct answer will be rewarded with one point of extra credit.

Main Books

Thomas Lairson and David Skidmore, International Political Economy: The Struggle for Power and Wealth, Harcourt, Brace and Co., 2nd ed., 1997

David Balaam and Michael Veseth (eds.), Readings in International Political Economy, Prentice Hall, 1996

Jeffry Frieden and David Lake (eds.), International Political Economy: Perspectives on Global Power and Wealth, St. Martins, 3rd ed., 1995

Reading Schedule

1/19: Introduction to Course

1/21: What is international political economy?

Lairson/Skidmore, chapter 1

Balaam/Veseth: Miles Kahler, ìThe International Political Economyî

Recommended:

F/L: Strange, ìStates, Firms and Diplomacyî

1/26: Economic Concepts

Lairson/Skidmore, chapter 2

F/L: Coughlin, Chrystal and Wood, ìProtectionist Trade Policiesî

F/L: Cohen, ìThe Triad and the Unholy Trinityî
1/28: The Origins of the World Economy

Lairson/Skidmore, chapter 3

F/L: Krasner, ìState Power and the Structure of International Tradeî

Recommended:

F/L: Kindleberger, ìThe Rise of Free Trade in Western Europeî

F/L: Cohen, ìA Brief History of International Monetary Cooperationî

2/2: The Era of U.S. Hegemony

Lairson/Skidmore, chapter 4

Balaam/Veseth: The Economist, ìBretton Woods Revisited: A Gift from the Cold Warî

2/4: Comparing British and U.S. Hegemony

F/L: Lake, ìBritish and American Hegemony Comparedî

F/L: Eichengreen, ìHegemonic Stability Theories of the International Monetary Systemî

2/9: Globalization

Lairson/Skidmore, chapter 5

Balaam/Veseth: Terry Collingworth, J. William Goold and Pharis Harvey, ìTime for a Global New Dealî

Balaam/Veseth: William Greider, ìThe Global Marketplace: A Closet Dictatorî

on reserve: Dani Rodrik, "Sense and Nonsense in the Globalization Debate"  Foreign Policy, Summer 1997, 19-37

Recommended:

F/L: Goodman and Pauly, ìThe Obsolescence of Capital Controls?î

2/11: International Economic Cooperation

Lairson/Skidmore, chapter 6

Balaam/Veseth: Peter Drucker, ìTrade Lessons from the World Economyî

2/16: International Competitiveness

Lairson/Skidmore, chapter 7

Balaam/Veseth: Martin and Susan Tolchin, ìRealeconomik: The Convergence of National Security and Economic Interdependenceî

Balaam/Veseth: James Fallows, ìHow the World Worksî

F/L: Prestowitz, ìBeyond Laissez Faireî

2/18: Instructor out of town.

In class video: ìRoger and Meî

2/23 and 2/25: What Heppened to the East Asian ìModelî?

F/L: Haggard and Moon, ìThe South Korean State in the International Economyî

Balaam/Veseth: The Economist, ìWho Are the Copy Cats Now?î

Balaam/Veseth: The Economist, ìAsiaís Emerging Economiesî

(For this class meeting, students will gather information on Asian financial crisis from the internet.)

3/2 and 3/4: Regionalism

Balaam/Veseth: Karl Fields, ìCircling the Wagons: The Trend toward Economic Regionalismî

Balaam/Veseth: The Economist, ìThe European Unionî

Balaam/Veseth: Godfrey Hodgson, ìGrand Illusions: The Failure of European Consciousnessî

F/L: Lawrence, Emerging Regional Arrangements: Building Blocks or Stumbling Blocks?î

Recommended:

F/L: Eichengreen and Frieden, ìThe Political Economy of Monetary Unificationî

3/11: The International Economy and Domestic Politics

(on reserve) Rogowski, Commerce and Coalitions

3/9: Legal and Bureaucratic Aspects of U.S. Trade Policy

F/L: Goldstein, ìIdeas, Institutions and American Trade Policyî

3/16: Interest Groups and U.S. Trade Policy: The NAFTA and Fast Track Debates

(on reserve) NACLA article

F/L: Milner, ìResisting the Protectionist Temptationî

Recommended:

F/L: Eichengreen, ìThe Poltical Economy of the Smoot-Hawley Tariffî

F/L: Ray, ìChanging Patterns of Protectionismî

3/18: North-South Relations: Dependency and Modernization Theories

Lairson/Skidmore, chapter 8

Balaam/Vesseth: Andre Gunder Frank, ìThe Development of Underdevelopmentî

3/23 and 3/25: Spring break. No classes.

 3/130 and 4/2: Southern Strategies of Development

Lairson/Skidmore, chapter 9

Balaam/Veseth: Robert Browne, ìHow Africa Can Prosperî

F/L: Summers and Thomas, ìRecent Lessons of Developmentî

F/L: Broad, Cavanaugh and Bello, ìDevelopment: The Market is Not Enoughî

4/6: Foreign Aid

Lairson/Skidmore, chapter 10

4/8: Multinational Corporations in the Third World

Lairson/Skidmore, chapter 11

Balaam/Veseth: Peter Drucker, ìMultinationals and Developing Countries: Myths and Realitiesî

F/L: Tarzi, ìThird World Governments and Multinational Corporationsî

Recommended:

F/L: Caves, ìThe Multinational Enterprise as an Economic Organizationî

4/13: Third World Finance and Debt

Lairson/Skidmore, chapter 12

Balaam/Veseth: Jeffrey Sachs, ìBeyond Bretton Woodsî

F/L: Freiden, ìCapital Politics: Creditors and the International Political Economyî

4/15 and 4/20: Hunger, Population and Sustainable Development

Lairson/Skidmore, chapter 13

Balaam/Veseth: Garret Hardin, ìThe Tragedy of the Commonsî

Balaam/Veseth: Martin Diskin, ìLack of Access to Land and Food in El Salvadorî

Balaam/Veseth: Donnella Meadows, ìSeeing the Population Issue Wholeî

F/L: Butler, ìEnvironmental Protection and Free Tradeî

4/22 and 4/27: Transitional Economies: From Command to the Market

Lairson/Skidmore, chapter 14

Balaam/Veseth: Fan Gang, ìDual-Track Transition in Chinaî

Balaam/Veseth: Kyril Tidmarsh, ìRussiaís Work Ethicî

F/L: Weisskopf, ìRussia in Transitionî

F/L: Sachs and Lipton, ìPolandís Economic Reformî

4/29: Conclusions: The Future of the World Political Economy

Lairson/Skidmore, chapter 15

F/L: Cohen, ìToward a Mosaic Economyî

5/4 and 5/6: Review for Final Exam
 

A thesis is what you have to say about a subject, the angle from which you think the subject should be viewed, your attitude toward it, your opinion, your evaluation.  Your reader reads to find out what you think.  Your thesis is the essence of what you think.

  A thesis is not:     A thesis is:

 a gusher of feeling your view of an important subject
 a litany of cold facts your interpretation of the facts
 a grandiose generality a position you support with evidence
 a recitation of the obvious your special slant or approach

Major points:

  --A thesis is a statement of your conviction on a worthwhile subject.

  --An appropriate thesis reflects the limitations imposed by the length of your paper, your audience, your purpose of writing.

  --An effective thesis:
  1.  controls the development of your essay,
  2.  predicts its contents, and
  3.  obligates you to a restricted topic.

Tips :
  --In general, a question is not an effective way to word a thesis.  It suggests that the writer has not made up his mind, which probably is not the case, and it fails to predict the direction of the argument.

  --Avoid phrases like "I think" or "I feel."  The reader assumes the ideas you express are yours without your saying so; the phrases only weaken your argument.

  --Be as concrete as you can in stating your thesis.  Avoid vague language, jargon, special language, even undefined abstract terms.

  --Be sure your thesis statement contains no elements not clearly related.  (E.g., "All novelists seek the truth; therefore, some novelists are good psychologists: introduces terms that confuse the reader.  A better thesis would be "In their attempt to probe human nature, many novelists appear to be good psychologists" because your reader understands the relationship of all the terms.)*