Foundations of International Political Economy

Name: Foundations of International Political Economy
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Explore the Political Institutions, International Organizations, and Social Considerations that Shape the Global Economy

Created byAmber Krause (MBA)

Last updated 5/2020

English

What you'll learn

Identify the role that the WTO, GATT, and IMF have in facilitating international trade
Understand competing theories of international political economy
Use the Gini Coefficient, PPP, and MPI are used to understand global poverty and inequality
Conceptualize the impact of a "strong" or "weak" currency on international trade

Course content

4 sections • 10 lectures • 1h 53m total length

Introduction4:24
This is a brief introduction to the course and what we will cover.

Globalization, Limits of IPE, Theories of Power13:02
In this lesson, we will learn more about the key term of globalization. We will also discuss the importance of having law and order in the international economy and several theories of power relating to the global economy.
Hegemonic Stability Theory and Institutionalism15:28
Law, order, and regulations are important to the smooth functioning of the global economy, but who makes the rules and who benefits? In this lesson, we will examine how the Hegemonic Stability theory and Institutionalism address the issue of power and rule making in the global economy.
Constructivism4:32
Constructivism is a theory which claims that the realities of the global economy are flexible and can be influenced by collective action. This short lecture covers the key points of this theory.
Quiz 1

International Monetary System14:39
In this lesson, we will briefly review the history of the international monetary system. We will also discuss how currency exchange rates work and how countries can use a "strong" and "weak" currency to boost exports. Lastly, we will discuss how currency devaluation can affect a country's balance of payments and the role that the IMF plays in in helping struggling economies.
Free Trade16:59
This section is devoted to understanding free trade. We will cover both the benefits of free trade as well as some of the disadvantages of free trade. By the end of this section, you will understand how and why countries use tariffs, quotas, and other barriers to protect domestic industries and how the World Trade Organization promotes free trade. We will also briefly discuss the importance of Regional Trade Agreements such as NAFTA and the EU.
Foreign Direct Investment12:37
Foreign Direct Investment is money invested in a foreign company to "acquire a management interest." In this lesson we will learn several reasons why a company might want to participate in FDI, and we will also examine the implications of FDI from several different political perspectives.
Global Inequality and Poverty12:14
Unfortunately, income inequality and poverty remain ongoing problems in the global economy. In this lesson we will study three key metrics used to measure global poverty/inequality and compare and contrast several theories describing why global poverty exists and what can be done to fix it.
Global Governance12:58
Global governance refers to the rules, institutions, and organizations that provide guidance for the global economy. We have already discussed several of the key players in the international economy, and in this lesson, we will focus more on the theoretical justification for why such governance is necessary.
Quiz 2

Requirements

There are no prerequisites for this course.

Description

This course in International Political Economy gives students a unique perspective and allows them to understand how the international economy influences, and is influenced by, political organizations and social concerns. This course is an ideal companion course for anyone studying international economics because it examines many of the same topics but in a slightly different light. Whereas international economics studies the global economy from a dollars and cents, profit and loss standpoint, international political economy takes a broader approach than international economics and looks at the social and political ramifications of the global economy.

This course is not a competitor to international economics, but a compliment. It gives students an additional lens that can be used to examine the global economy. By the end of this course, students will be able to:

Describe the major international financial institutions and the role they play in the global economy
Identify the key organizations that regulate and promote international trade
Examine "who wins" and "who loses" as a result of international trade
Compare and contrast the Liberal, Mercantilist, Marxist, and Constructivist theories of international political economy
Understand how political scientists measure global poverty and wealth inequality
About the Instructor
Robert Reed is a current Masters of Business Administration candidate and veteran with four years of service in the 82nd Airborne Division of the United States Army. He holds a B.A. in Economics and has served as a student tutor for three years.

*This course is not intended to give any specific business/political/economic/investment advice, but rather represents an introduction to theories of International Political Economy that is designed to help you better understand the key concepts. *

Who this course is for:

This course is ideally suited for Economics or Political Science majors as it represents the intersection between the two fields. It covers not just the economics of international trade, but also the key organizations and social consequences of international trade.

Foundations of International Political Economy

What you'll learn

Explore related topics

Course content

Introduction1 lecture • 4min

Theories of Power In IPE3 lectures • 33min

International Trade5 lectures • 1hr 9min

Conclusion1 lecture • 7min

Requirements

Description

Who this course is for: