240051 SE VM1 / VM2 - Global Political Economy (2025S)

This module combines a variety of approaches from history, sociology,
political economy, and international economics in the study of the global political economy. Its focus will be on the connection between
international economic integration and domestic socio-economic
transformation in the making of the contemporary world order. Further,
we will examine how different theories have shaped international
economic policies.
In the first segment of the module, we will examine some of the major
scholarly contributions to political and economic theory and thought.
We will further develop an interdisciplinary theoretical framework
incorporating political economy and world history that will greatly aid
us in the subsequent analysis of the global political economy.
The second segment of the module will trace the historical
development, structure, and function of the global political economy.
The theoretical framework will include a brief introduction to the
national income accounting and the balance of payments, the
determination of exchange rates, and different exchange rate regimes.
Further, we will employ this theory to better understand the historical
evolution of the International Monetary System and the role of the
International Financial Institutions in the global political economy.
The last segment of the module examines the origins and nature of
global trade integration with a particular emphasis on the experience of developing countries in the global economy. Key topics include the
debate on trade and development, trade liberalization, the structure and function of the International Trading System, trade policies, and
development strategies.
Learning Outcomes:
By the end of the module, students will
- have acquired a comprehensive background in various areas of
international/global political economy that will provide them
with the theoretical tools to understand and critically evaluate
current events and processes;
- be able to discriminate between different perspectives and
approaches to the study of global political economy;
- be able to understand and critically analyze texts of varying
complexity on topics of global political economy;
- be aware of and able to recognize the linkages between
‘domestic’ and ‘international’ political economy.
Teaching Method:
The module is designed as a mixture of lecture and an interactive
seminar, in which students will gain knowledge through assigned
readings and in-class discussions. The first part of each session will be held in an interactive lecture format that will provide an overview of the material, highlighting the main conceptual issues followed by a seminar discussion. Students will be expected to complete all required readings before class and to engage actively and meaningfully in class discussions.