BA in International Politics BA Politics of the International Economy [PDF]

Department of Political Economy

BA in International Politics BA Politics of the International Economy / Political Economy Third Year 2015-16 Please read this information carefully, it contains important guidance on your choice of optional modules for the third year of your studies.

In preparation for your final year, you must ensure that you are registered for the correct modules. You have the freedom to choose some optional modules alongside the core/compulsory modules which you must take. In your third year, you are required to take level 6 modules worth 120 credits in total. You must take and pass the Undergraduate Dissertation module in order to graduate with a BA International Politics or BA Politics of the International Economy/Political Economy. However you now have a choice of taking either a 30-credit or 60-credit version of the dissertation. • 6SSPP312 Dissertation (Core – 60 credits – Sem 1 and 2) OR • 6SSPP352 Politics/Political Economy 30-Credit Dissertation (Core – 30 credits – Sem 1 and 2) To graduate with a BSc Politics of the International Economy, you must take and pass the Undergraduate Dissertation module (either the 30-credit or 60-credit version) and take the Econometrics module: • 6SSPP312 Dissertation (Core – 60 credits – Sem 1 and 2) OR • 6SSPP352 Politics/Political Economy 30-Credit Dissertation (Core – 30 credits – Sem 1 and 2) AND • 6SSPP316 Econometrics (Compulsory – 15 credits – Sem 1) Please note that there will also be a Dissertation Preparation Session on Wednesday, 25 March at 13:00h in Room S-1.27. In addition to these core/compulsory modules, you are required to take optional modules to fulfil the 120 credits criteria for the third year of your programme. Of the 120 credits, at least 75 credits must be DPE modules, i.e. modules with a 6SSPPxxx code.

Guidance on choosing your optional modules Information on the modules offered by the Department of Political Economy in 2015/16 is included below. These modules reflect the latest scholarships in International Politics and Political Economy, taught by world-leading academics. We are confident that these modules will complement and develop the material you have studied in your first and second year and provide an excellent foundation for further study or entry to the job market. [1]

Department of Political Economy

Please make sure that you read through the information provided and direct any follow-up questions to the respective module convenors. Whichever modules you select now will be timetabled so that there are no teaching clashes for you. You also have guaranteed access to all modules within DPE (5SSPPxxx codes). All optional modules in your third year should be at level 6. If you are not sure of the credit level of the modules you want to take, please get in touch with the module convenor in question. There will be a two-week window at the start of the semester when you can make changes to your options registrations. Please bear in mind, however, that by that point there is limited flexibility regarding the timetable, and it may not be possible to accommodate all change requests.

Registering for modules As you now have a choice between a 30-credit and a 60-credit dissertation, you will need to register which one of these you would like to take via the online portal. Please remember that you must choose and pass one of them, as this is still a core module. Similarly, students on Politics of the International Economy/Political Economy who wish to complete the BSc pathway must select the relevant compulsory module (6SSPP316 Econometrics) as part of your module registration process. You will need to complete your module registration online via Student Records. You will by now have received, or will be receiving shortly, an email from the Assessments and Records Centre (ARC) with detailed instructions on selecting your modules along with the link to the website. The deadline to select your modules via this website is 27 March 2015. There will be a two-week window at the start of the semester when you can make changes to your options registrations. Please bear in mind, however, that by that point there is limited flexibility regarding the timetable, and it may not be possible to accommodate all change requests.

Options outside the Department of Political Economy It is possible to take 30 credits of optional modules provided by other departments. If you wish to do this, it is your responsibility to contact the relevant department and gain permission to take the module in question and contact your personal tutor to obtain approval to take the module. We cannot guarantee that any module offered by another department will be available to DPE students. You cannot take modules from outside the College. A number of modules offered by departments within the Faculty of Social Science & Public Policy, namely the Global Institutes and the Institute for Contemporary British History, have been designated so that they will not count towards the 30 credit limit. These are listed in the appendix. But remember that you must still take at least 75 credits of DPE modules (modules with a 6SSPPxxx code) out of the 120 credits you take in total. If you are planning to take options from the appendix, please contact your programme administrator about this by 27 March 2015 – Jonita D’souza (jonita.d'[email protected]) for International Politics and Joanna Bywater ([email protected]) for Politics of the International Economy/Political Economy. [2]

Department of Political Economy

All option choices from outside the department that are not listed in the appendix must also be approved by your personal tutor and your choices sent on to your programme administrator to make sure the relevant module code is added to your student record.

5SSPP232 Mathematics for Economics for third-year Politics of the International Economy/Political Economy students It is possible for students who will be in their final year in 2015/16 to take 5SSPP232 Mathematics for Economics. Please note, however, that this may have an impact on your C-score (which determines your overall degree classification); more information on this can be found here. If you would like to add this module to your record for 2015/16, please contact Joanna Bywater ([email protected]).

5SSPP232 Mathematics for Economics Semester 1 Available to:  (International Politics – optional module) see pre-requisites!  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Gabriel Leon Assessment: 1-hour midterm class test (30%), 2-hour examination (60%), Attendance & Participation (10%) Teaching Format: weekly 2-hour lectures and 5 seminars Pre-requisites: Students are expected to have completed 4SSPP109 Quantitative Methods, but any students on International Politics who have a strong interest in this module are advised to contact the module convenor to discuss. This module will introduce students to the mathematical tools most commonly used in economics. The focus will be in analysis and linear algebra, particularly on the topics that are most used in economics. Examples will be drawn from economics and political economy. Topics covered will include differentiation and partial differentiation, constrained and unconstrained optimisation, and an introduction to linear algebra. Aims     

teach students the mathematical tools most commonly used in economics; show students how our understanding of economic concepts can be made more precise through their mathematical formulation; enable students to write their own economic models; topics covered will include differentiation, optimisation, further topics in calculus and linear algebra; provide students with the mathematical background that will prepare them for the more mathematical of the level 6 optional modules.

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Department of Political Economy

Lecture Schedule 1. Differentiation 2. Partial Differentiation 3. Optimisation 1, including Lagrange Multipliers 4. Optimisation 2, including Kuhn-Tucker 5. Midterm 6. Envelope Theorem and its applications in economics 7. Comparative Statics and examples from economics 8. Integration (concept, main techniques) 9. Linear Algebra 1 (introducing matrices) 10. Linear Algebra 2 (inverting matrices, the determinant) 11. Introduction to Dynamics (based on an Economic growth example) Key Readings Chiang, Alpha C. and Kevin Wainwright, 2005. Fundamental Methods of Mathematical Economics, McGraw-Hill. Sydsaeter, Knut, Peter Hammond and Arne Strom, 2012. Essential Mathematics for Economic Analysis, Pearson. (easier than Chiang and Wainwright) Simon, Carl P. and Lawrence Blume, 1994. Mathematics for Economists, W.W. Norton. (more difficult than Chiang and Wainwright)

The information in this booklet is correct to the best of our knowledge, but in the event of unforeseen staff changes or similar, modules may have to be withdrawn or moved into a different semester. This is extremely unlikely, and we will inform you of any such changes as soon as we become aware of them.

updates to this document v.2 (12 March 2015):  Date for UG dissertation information session amended  Information on 5SSPP232 Mathematics for Economics added  6SSPP336 Peace Science: assessment pattern now approved  6SSPP343 Advanced Economic Analysis: assessment pattern added  6SSI8888 Money and Power: Development of the International Monetary System since 1945: module code corrected  6SSJM300 Political Economy of the Middle East: module information updated

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Department of Political Economy

Year 3 DPE Module Descriptions

NB: In the following an asterisk * denotes modules with new assessment patterns that we have asked to introduce but that have not received Faculty sign-off yet; we will keep you informed of any changes.

6SSPP312 Undergraduate Dissertation (60 credits) 6SSPP352 Politics/Political Economy 30-Credit Dissertation Semester 1 & 2 Available to:  International Politics – core module (you must choose either the 30- or the 60-credit version)  Politics of the International Economy/Political Economy – core module (you must choose either the 30- or the 60-credit version) 60 or 30 credits Module Convenor: Dr Scott James Assessment: 30-credit dissertation: 1500-word proposal (10%) + 8000-word dissertation (90%) 60-credit dissertation: 1500-word proposal (10%) + 15000-word dissertation (90%) In 2015/16 students will have a choice of taking either a 30-credit or 60-credit dissertation. You should therefore think very carefully about what length of research project you would like to do, as this will have important implications for how many optional modules you can take in your final year. This module affords students the opportunity to develop and undertake an independent research project on a topic of their own choosing. The aim is to enable students to pursue their own particular interests in greater depth than before. In the course of doing so, they will have the chance to draw on the skills and knowledge they have acquired earlier in the degree in order to formulate and answer a specific, focused research question. While students will of course receive support, both in the form of lectures/workshops and guidance from their supervisor, they will be expected to demonstrate autonomy in carrying out their research project. In this way, the module aims to help students to develop their capacity for independent research. The dissertation will also contribute to future research and employment needs by helping students to develop their capacity for critical thinking, empirical research, and extended writing.

6SSPP303 Advanced Research Methods for Political Science Semester 1 Available to:  International Politics – optional module 15 credits Module Convenors: tbc Assessment: 2-hour examination (45%), 2 take-home tests (45%), Attendance & Participation (10%) This module is designed to provide students with analytical tools to analyse political phenomena. In particular, I will introduce the basic ideas of inferential statistics. The goal is to train students in [5]

Department of Political Economy

particular techniques that can be useful to learn about reality in a world where data may be limited. To achieve this we will learn how to develop and test hypotheses using large datasets. This course is highly recommended to all students interested in learning how to produce well-informed data driven explanations. Although, some previous knowledge of statistics and basic high-school algebra is desirable none of these is a pre-condition to attend this course. I will assume little knowledge of these topics and my approach will be both intuitive and oriented at particular examples from political science and economics. Those students who have previously attended courses on comparative politics (“Political change in Europe”, “Institutions, economics and change”, “Democracy and Development” etc…) will find this module extremely helpful since it will enrich students’ existing knowledge on the questions studied there. The course will combine lectures with practical sessions at the computer lab. One of the main goals of this course is that students were able to produce their own research using statistics by the end of the module. For this reason, there is a big emphasis in the practical component of the course. Students will learn the different statistical techniques at the theoretical level during the lectures. At the pc-lab, students will learn how to implement such theoretical knowledge by using STATA, major statistic software. Lecture Schedule Exploring data Week 1 – Picturing distributions Week 2 – Scatter plots, covariance and correlation From sampling to reality: Inference Week 3 – Producing data: sampling vs. experiments Week 4 – introduction to probability Week 5 – Sampling distribution Week 6 – Introduction to inference Week 7 – Inference about variables (mean and proportions) Understanding relationships Week 8 – Exploring relationships: two-tables (Chi-squared test) Week 9 – Exploring relationships: simple regression Week 10 – Exploring relationships: multiple regression Key Readings A tentative textbook for this course is Moore, D.S. 2009. The Basic Practice of Statistics. 5th ed. New York: W. H. Freeman.

6SSPP304 Political Economy: Advanced Analysis Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Prof Mark Pennington Assessment: 4,000-word essay (100%) Teaching Format: weekly -1hour lectures and 1-hour seminars

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Department of Political Economy

This course analyses the inter-relationships between economic and political processes and the role of institutions in shaping individual behaviour and social outcomes. The course aims to:  Examine how political economists understand the relationship between economic processes and both formal and informal institutions, focussing on the strengths and limits of rational actor models.  Examine the role of social institutions in overcoming problems of social coordination.  Analyse the relationships between markets and states as forms of social order  Understand processes of path dependence and institutional change  Explore the issues set out above in the context of applied case studies Lecture Schedule Part1: The Political Economy ‘Tool-Kit’ Week 1: Rational Choice and Resource Scarcity: Universal or Culturally Specific Week 2: Individual Action and Institutional Structure Week 3: Markets and States as Coordination Procedures Week 4: Predation, Production and the Paradox of Governance Week 5: Trust, Social Capital and Transaction Costs Week 6: Path Dependence and Institutional Change Week 7: Reading Week Part 2: Case Studies in Political Economy Week 8: The Political Economy of International Development Week 9: The Political Economy of Extra-Legal Institutions Week 10: The Political Economy of Common Pool Resources Week 11: The Political Economy of Macroeconomic Instability Week 12: Review

6SSPP306 Democracy and Its Critics Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Rod Dacombe Assessment*: 1,500-word essay (15%), 3,000-word essay (85%) The term ‘democracy’ has passed into the vocabulary of everyday life, reaching beyond the sphere of formal politics into areas as diverse as education, work and family life. Fundamentally, most people who talk about democracy hold the assumption that it is a ‘good thing’, which is to be promoted as widely as possible. This is an important point; a fully-functioning democracy is held as proof of the success of developed societies, even as justification for war against nations which do not reach the democratic ideal. And so it might seem remarkable that there are those who would argue against its value as an idea, and as a means of organising society, yet an extensive body of literature has developed which raises a number of serious objections to many of the established features of democratic thought. It is this tension which provides the focus of this module. This module aims to bridge democratic theory and practice. It traces the development of the ideas of democracy with a particular emphasis on the institutions, past and present, which have been influenced [7]

Department of Political Economy

by these evolving theories. Students taking the module will be encouraged to develop their knowledge and critical understanding of the place of democratic ideas and practice in modern political thought. Teaching on the module will be a little different to the kinds of class previously encountered in the degree. The term is split into two parts. The first few weeks of classes will be taken up with lectures, accompanied by either seminars or informal workshop sessions. The lectures will provide an introduction to the development of democratic thought, focusing on some of the major themes of the literature. As well as providing a foundation to the major elements of theory, these sessions will help to guide students’ reading of the prominent texts in the field. Some topics will be accompanied by a related seminar session, which will deal with institutional developments, focused on a particular question or problem which relates to the overarching theme of the week. So, for example, an introductory lecture on democratic theory is accompanied by a seminar session examining the competing claims over the origins of the term, and their importance to later critiques of democracy. Students will be assigned tasks to complete in advance of these sessions and will be expected to lead discussion on the topic. The workshop sessions will focus on simulations, where the class work through scenarios which examine the real-life applications of democratic theory. Students’ understanding of the issues covered will be tested via the mid-term paper. The second part of the module introduces some of the numerous critiques of democratic institutions, including, for example, those who favour minimal forms of democracy over widespread participation, the varying critiques of deliberative democracy and the results of empirical analyses of democracy in practice. This part of the module follows a more conventional lecture-seminar format, with students preparing for a group discussion of a different critique each week. This part of the module will be assessed via the coursework essay. The workload involved in the module, and the assessments, have been designed to encourage scholarly engagement with, and critical evaluation of, core literature in the field, both past and current. If you take this module you will encounter a diverse range of material, and will need to be comfortable with a reading load which is, in places, demanding. The module will suit students interested in the connections between political theory and empirical political science, as well as anyone who wonders why most people aren’t interested in democracy, and whether this matters.

6SSPP309 Religion and Politics Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Humeira Iqtidar Assessment: 2-hour examination (50%), 2,500-word essay (50%) This module is designed provide students with a thorough understanding of the key issues related to religion and politics. The rise in public manifestations of religions in the last two decades in all parts of the world has led to much rethinking and reconsideration of the relationship of religious thought and practice to political structures and processes. The first part of the course will deal with theoretical debates and the later part with look at a few case studies in some detail. This course will be of particular interest to students interested in International Politics. [8]

Department of Political Economy

Learning Outcomes By the end of this course, students should be able to:  Understand emerging debates in conceptualizing and defining religion in social sciences.  Understand the limitations of previous frameworks for assessing the role of religion in political processes.  Develop a broader and deeper understanding of transformations in different religious traditions.  Apply a nuanced understanding of theoretical developments in studying religion and politics to different political contexts. Lecture Schedule 1. Introduction: The History of Debates about Religion and Politics 2. Modernity and Secularism and Apolitical Religion? 3. The Politics of Religious Resurgence 4. Evangelical Christianity, Colonialism and Globalization 5. Hindutva 6. Political Islam 7. Islamism in South Asia 8. Religion in the US 9. Religion in Europe 10. Violence and Religion

6SSPP314 Commerce, Liberty and Virtue: Commercial Society and its Critics (updated) Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Robin Douglass Assessment: 2,000-word essay (40%), 3,000-word essay (60%) Pre-requisites: None, although you might find the module more difficult if you have not previously studied any history of political thought. This module is designed to provide students with an in-depth knowledge of the main arguments advanced in support of and against the development of commerce and luxury in modern political thought. These arguments were at the heart of political, moral and economic thought throughout the eighteenth century, and the debates to which they gave rise were central to the development of liberal political thought and capitalist political economy. In particular, the module investigates the following theoretical problems:  How assumptions about human nature influence the way we think about the scope and purpose of politics.  Whether the pursuit of wealth and luxury makes individuals deceitful and selfish or encourages the development of peaceful and sociable passions.  The extent to which increased commercial activity supports or endangers individual and political liberty.  Whether enlightened self-love is constitutive of or inimical to civic virtue.

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The extent to which the arguments originally employed to justify liberal and capitalist ideas remain valid today.

Lecture Schedule 1. Self-love and virtue at the turn of the eighteenth century 2. Mandeville on the passions of modern society 3. Mandeville on the origin of society and human sociability 4. Montesquieu’s typology of the different kinds of government 5. Montesquieu on political liberty and commerce 7. Hume on commerce, luxury and civil liberty 8. Rousseau’s critique of modern society 9. Rousseau’s political economy of virtue 10. Ferguson on commerce, virtue and the spirit of dissension 11. Smith on sympathy, self-love and the moral sentiments 12. Smith’s defence of commercial society Key Readings Bernard Mandeville, The Fable of the Bees. Montesquieu, The Spirit of the Laws. David Hume, Essays, Moral and Political. Jean-Jacques Rousseau, Discourse on the Sciences and Arts; ‘Preface to Narcissus’; Discourse on the Origins of Inequality; Discourse on Political Economy; Considerations on the Government of Poland. Adam Ferguson, An Essay on the History of Civil Society Adam Smith, The Theory of Moral Sentiments; The Wealth of Nations.

6SSPP316 Econometrics Semester 1 Available to:  Politics of the International Economy/Political Economy – compulsory module for the BSc pathway/optional module for the BA pathway 15 credits Module Convenor: Dr Elisa Cavatorta Assessment: written examination (2 hours, 50%), mid-term class test (20%), take-home coursework (20%), problem sets (10%) Teaching Format: weekly 2-hour lectures and 6 1-hour seminars Pre-requisites: 5SSPP220 Macroeconomics and 5SSPP221 Microeconomics and 5SSPP222 Quantitative Methods for Economics This course aims to provide an introduction to the fundamental theoretical concepts and applications of econometrics. The course gives students an understanding of the science and art of determining what type of empirical model to build, estimating the parameters of the model, testing theories statistically, and applying econometrics models to answer practical questions in policy analysis. Students will also learn how to do applied econometrics using STATA software package. Learning Outcomes  Learn methods for estimating causal effects using observational data  understand the assumptions of regression analysis, the OLS estimator and its properties; [10]

Department of Political Economy

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interpret simple and multiple regression equations and be able to understand empirical economics papers; understand the basic principles of hypothesis testing and conduct significance tests in linear regression models; explain how to carry out tests to evaluate the adequacy of our econometric model understand and familiarise with standard techniques for policy evaluation; use standard econometrics packages for regression analysis and interpret their output

Key Readings There is no single textbook for the course. I will base my lectures mostly on the following textbooks. Both are available at the library and in e-book format. Wooldridge Jeffrey M., Introduction to Econometrics, Centage Learning, 1e 2013, ISBN: 978-1-4080-9375-7 Discount codes may be available in late summer/early autumn. Stock and Watson, Introduction to Econometrics, Person 3e. (2e is also fine)

6SSPP325 Democracy and Development Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Anna Gwiazda Assessment: 2-hour examination (50%), 2,500-word essay (50%) This course will examine theoretical arguments and empirical evidence concerning the relationship between political institutions and economic development. Specifically, it will analyse different conceptions of democracy, the conditions under which they emerge and survive, and the outcomes democratic governments are likely to generate. In addition, it will consider the impact of non-economic factors on the emergence and maintenance of democracy. Several in-depth case studies pertaining to the study of democracy and development in Europe, Latin America and Asia will be examined. The course will particularly suit students who are interested in comparative politics, international relations and world politics. Lecture Schedule Week 1: Introduction Week 2: Democracies and dictatorships Week 3: Democratization Week 4: Economic development Week 5: Is economic development conducive to democracy? Week 6: Reading week Week 7: Non-economic factors and democratic stability Week 8: Consequences of democracy Week 9: Democracy and development in Asia: India and China Week 10: Democracy and development in Latin America Week 11: Review [11]

Department of Political Economy

6SSPP326 The Politics of Culture & Identity Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Adam Tebble Assessment: Examination (2 Hours) (50%), Coursework (2,500 Words) (50%) Pre-requisites: 5SSPP202 Modern Political Thought or 5SSPP209 Political Theory of Capitalism or Political Philosophy II: Theories of Justice (for PPL students) This module in contemporary normative political theory is designed to provide students with an advanced undergraduate knowledge of some of the key contributions, from a broad range of thinkers and of schools of thought, to debates in the politics of culture and identity. It will be arranged around the theme of how the state should respond, if at all, to cultural diversity. Specifically, the educational aims are:  Provide students with a sound knowledge of the ideas of key contributors to the question of justice and cultural diversity, such as Rawls, Young, Miller, Scruton, Kymlicka, Kukathas and Barry  Enable students to place the contributions and underlying assumptions of these thinkers within the broader context of the challenge of articulating and justifying institutions of justice in culturally diverse societies.  Provide students with the skills required for advanced undergraduate engagement with and critical analysis of original works in contemporary normative political theory. Learning Outcomes By the end of this module students will be able to:  Demonstrate a thorough knowledge of the ideas of the key contemporary thinkers in debate about justice, culture and identity.  Show an understanding of the underlying presuppositions and assumptions informing philosophical debate about justice, identity and the relationship between the individual and the state and between cultural and other identity-based communities and the state.  Demonstrate an ability to critically analyse and evaluate key primary and secondary source texts in contemporary normative political theory. Key Readings Brian Barry, Culture and Equality Chandran Kukathas, The Liberal Archipelago Will Kymlicka, Multicultural Citizenship David Miller, On Nationality John Rawls, A Theory of Justice Roger Scruton, 'In Defence of the Nation', 'The First Person Plural' Iris Marion Young, Justice and the Politics of Difference

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Department of Political Economy

6SSPP328 Advanced Issues in International Politics Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module NB: As this module includes a simulation exercise which can only run with a limited number of participants, places are capped at 96. 15 credits Module Convenor: Dr James Scott Assessment*: 2-hour examination (45%), 2,500-word essay (45%), Attendance & Participation (5%), weekly quizzes on the readings (5%) Teaching Format: weekly 1-hour lectures for the duration of the module and weekly 1-hour seminars for the second section of the module; for the first section of the module, seminars are replaced by the twoday simulation exercise This module examines a range of contemporary issues in international politics across various areas of economics and politics. It engages with a variety of conceptual approaches and issue areas, seeking to provide greater understanding of international politics in a theoretically-informed manner. The module has two halves. The first half engages with a number of issue areas and, rather than holding weekly seminars, culminates in a two-day exercise in which you will undertake a set of negotiations based on those topics, in order to ‘experience’ the way in which international political negotiations take place. Topics to be covered will include, among others, the politics of foreign aid; the use of alliances in foreign policy; conflict over access to water resources; resolving territorial disputes; the politics of foreign policy; and the politics of regional integration. The goals of this module are to:  further your understanding of the complexities of international politics in the 21st century utilising a series of case studies of important global issues;  enable critical engagement with different conceptual approaches to the study of international politics;  develop and deepen your understanding of how different conceptual approaches to the study of international politics can be used to analyse the selected case studies;  provide an opportunity to engage with both theory and particular empirical issues through simulated experience.

6SSPP329 The Economics of Crime Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr David Skarbek Assessment: 2-hour examination (50%), 2,500-word essay (50%) This course uses economics to understand crime. It examines how criminals choose to commit crimes, how they respond to law enforcement, and when they will act collectively in crime. The course will examine current and historical episodes of crime. [13]

Department of Political Economy

The course will appeal to students who are interested in economics and enjoy the economic way of thinking. Students who would like to improve their ability to apply the economic framework to political problems would enjoy the course. The course does not use highly formal models, but instead relies on graphical analysis where appropriate. Seminars are reading-intensive and discussion-based, and students who do not complete all of the readings each week struggle to do well.

6SSPP330 Economic Policy-Making Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Christel Koop Assessment: 2-hour examination (45%), 2,500-word essay (45%), Attendance & Participation (10%) Teaching Format: weekly 1-hour lectures and 1-hour seminars This module focuses on the economic policy-making process and on the variation in economic policies across countries. We will assess the logic behind, and the variation in, policy areas such as liberalisation, taxation, privatisation, monetary policy, labour market regulation, financial regulation, welfare policies, and poverty reduction policies. In order to understand the variation in policies, we will look at functional explanations and consequences as well as at the role of economic ideas, party politics, interest group lobbying, IMF and World Bank conditionality, and policy diffusion. This module will particularly suit students who are interested in the politics of the policy-making process and in the way in which politicians seek to create, correct, and stimulate markets.

6SSPP331 Advanced Topics in Comparative Politics Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Ruben Ruiz Rufino Assessment: 2,500-word essay (40%), 2,500-word essay (60%) This module explores in some detail current dynamics of contemporary regimes. In particular, it focuses on three related aspects: a) how states emerge and collapse; b) how political regimes use elections as devices to reduce conflict and increase stability and c) why some undesirable outcomes like corruption, clientelism and inequality are observed in some political systems and not in others. All these issues together provide students with an advance understanding of current political systems. This module explores new issues of comparative politics that are not covered in the existing modules in year 1 and 2 but it builds upon the knowledge acquired by students who attended “Comparing Political Systems” or “Political change in Europe”. Students who also took “Institutions, Economics and Change” or “The Economics of Politics” will also benefit when taking this course since this module will provide [14]

Department of Political Economy

students with theories and examples to better understand how certain type of regimes and institutional designs are more likely than other in generating some economic outputs. The module is essentially empirical which means that students will need to be familiar with statistical concepts like correlation and regression. In this regards, this module is an ideal opportunity for students who look for practical applications of what they learned in the module “Research Methods”. Some of the readings will also borrow concepts from game-theory like utility functions and equilibria. Key Readings A. Przeworski. 2010. Democracy and the Limits of Self-Government: Cambridge University Press. A. Simpser. 2013. Why Governments and Parties Manipulate Elections: Theory, Practice, and Implications: Cambridge University Press. M. W. Svolik. 2012. The Politics of Authoritarian Rule: Cambridge University Press. J. Gandhi. 2010. Political Institutions Under Dictatorship: Cambridge University Press. S. D. Hyde. 2011. The Pseudo-Democrat's Dilemma: Why Election Observation Became an International Norm: Cornell University Press. J. G. Kelley. 2012. Monitoring Democracy: When International Election Observation Works, and Why It Often Fails: Princeton University Press. R. H. Bates. 2008. When Things Fell Apart: State Failure in Late-Century Africa: Cambridge University Press. D. Acemoglu and J. A. Robinson. 2006. Economic Origins of Dictatorship and Democracy. New York: Cambridge University Press. S. Bowles. 2012. The New Economics of Inequality and Redistribution: Cambridge University Press

6SSPP332 Behavioural Political Economy Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Prof Shaun Hargreaves Heap Assessment: 3-hour examination (65%), 1,000-words essay (25%), Attendance & Participation (10%) Experiments in economics have generated new insights into how people behave. Together with earlier psychological work, they have spawned a new field in economics: behavioural economics. This module is concerned with how the insights from this new field contribute to some key debates and issues in political economy. In particular, we will examine how the experimental (and survey) evidence on behaviour contributes to the following questions.  Was Hobbes right when arguing that in a State of Nature life would be ‘poor, short, brutish and nasty’ ? (In other words, do we always need a State to solve collective action problems?)  Was Rawls right when arguing that individuals would be guided by maxi-min from behind a veil of ignorance? (That is, is there support for this foundation for the social democratic state?)  Was Mill right to argue that freedom is essential to wellbeing? (i.e. is freedom valued intrinsically or it a means to other ends?)  Is the ‘typical’ individual in liberal democratic societies ‘self governing’ in Mill’s sense? (Is it right, for instance, to take an individual’s preferences as ‘given’?)

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Do markets allow individuals to exercise liberty or does participation in the market change individuals? Do other-regarding motives depend on the existence of groups? Do group identifications cause harms to non-group members? Was Mill right to claim that democratic decision making encourages solidaristic attitudes? Do democratic/inclusive decision making structures yield the property of ‘wisdom of crowds’? To what extent do experiments support public choice insights with respect to the functioning of democracy?

Lectures and seminars focus on the key experiments and on the methodology of experiments in economics and psychology. Key Readings C. Camerer, Behavioural Game Theory D. Kahneman, Thinking Fast and Slow R. Thaler and C. Sunstein, Nudge: Improving Decisions about Health, Wealth and Happiness

6SSPP333 Development Economics Semester 2 Available to:  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Prof Amrita Dhillon Assessment: 1.5-hour examination (70%) 1,000-word essay (30%) Pre-requisites: 5SSPP221 Microeconomics and 5SSPP222 Quantitative Methods for Economics This module explores the fundamental themes in development economics. We look at general patterns in terms of characteristics of developing countries, and try first to define what we mean by development. We then go on to study formal models of growth and poverty traps and some recent important and topical issues in market failures and their solutions in developing countries, covering topics like credit markets and the role of microfinance, labour markets and the use of social networks, distributional issues . The module will mainly be based on formal modelling but will introduce students to empirical experimental results to support the theory wherever relevant as well. Lecture Schedule 1. Defining and measuring economic development. 2. Growth: growth experiences. Simple models of economic growth. DE Chapter 3. 3. Poverty Traps: What are they and how do they occur? How can we design policy to break out of poverty traps? 4. The importance of history 5. Demographic Transition 6. The distribution of income and wealth: DE Chapter 6 and 7. 7. Poverty and undernutrition: 8. Markets and Development: credit, land and labour markets and how they are related to development traps. 9. The Political Economy of Development: Governance, voting, lobbying, conflict. [16]

Department of Political Economy

Key Readings Understanding Poverty by Banerjee, A., R.Benabou and D.Mookherjee, eds. OUP 2006. (UP) Poor Economics (PE) by Banerjee, A. and E.Duflo. Development Economics (DE) by Debraj Ray (1998) Princeton University Press.

6SSPP335 Liberalism Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Prof Jeremy Jennings Assessment: 2-hour examination (50%), 2,500-word essay (50%) Teaching Format: weekly 1-hour lectures and 1-hour seminars; each lecture and seminar will be devoted to a thinker or set of thinkers and their ideas; the seminars will take the form of an open discussion on a set reading for each week, and students are expected to have read the set text and to participate in discussion Pre-requisites: 5SSPP202 Modern Political Thought or 5SSPP209 Political Theory of Capitalism or History of Political Philosophy (for PPL students) This module examines the development of liberalism in the Western world from the French Revolution to the twenty-first century by analysing the works of a number of European and American thinkers. One of our tasks will be to establish what are the distinctive characteristics of liberal thought? What do different liberals have to say about key concepts like the state, the individual, freedom, equality, and property? Is there one liberalism or many? Liberalism is an extremely diverse ideology, and the module will examine tensions within this body of thought: between liberal thinkers of different eras and different countries, between classical and modern liberalisms, left and right liberalisms, and so on. Are liberal values universally desirable or only limited to particular times and places? Different writers have sought to justify liberal beliefs in different ways: by appealing to concepts of natural right or ideas of human welfare, by using social contract theories, or by acknowledging the contingency of liberal values. The module will also examine the relation of liberalism to other ideologies – such as republicanism, conservatism, and socialism – that liberalism developed in opposition to or sometimes in alliance with. This is a historically oriented political theory module where students are required to read and engage with primary texts throughout the module. Key Readings Benjamin Constant, Political Writings James Mill, Political Writings J.S. Mill, On Liberty and Principles of Political Economy Herbert Spencer, The Man versus the State L.T.Hobhouse, Liberalism Plus a selection of readings from more contemporary liberals such as Isaiah Berlin, John Rawls, Friedrich von Hayek, etc.

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6SSPP336 Peace Science Semester 1 Available to:  (International Politics – optional module) see pre-requisites!  BSc Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Anja Shortland Assessment: Examination (2 Hours) (60%), Coursework (2,000 Words) (40%) Pre-requisites: Students are expected to have completed 5SSPP222 Quantitative Methods for Economics, but any BA students on Politics of the International Economy/Political Economy or students on International Politics who have a strong interest in this module are advised to contact the module convenor to discuss. This module is aimed at undergraduates with an interest in analysing civil conflict. The focus is on rational choice models and data analysis to identify patterns in conflict behaviour and conflict resolution across the world. Under what conditions do we observe insurgencies and transnational security threats? What tactics do rebels adopt in different circumstances and what policies are effective in containing them? When does repression and deterrence fail?  We will analyse civil conflicts and transnational security threats using a rational choice framework and empirical methodologies.  Students will develop and further their understanding of economic and econometric methods by seeing them applied in interesting real world settings.  We will conduct policy analysis and discuss the relative merits of military, political and economic approaches to conflict resolution. Learning Outcomes On completion of the module students should be able to:  Demonstrate knowledge of a range of non-traditional threats to international security, civil conflicts and state failure.  Explain the underlying issues leading to conflict and the dynamics of ongoing conflicts.  Apply a rational choice framework to evaluate and analyse the merits of different intervention policies.  Understand and critically evaluate empirical work on conflict and terrorism and formulate evidence-based policy responses. Key Readings Berman, Eli. 2009. Radical, Religious and Violent: The New Economics of Terrorism Collier, Paul. 2007. The Bottom Billion Frey. Bruno Frey. 2004. Dealing with terrorism—Stick or carrot? Sandler, Todd. 2011 The Political Economy of Terrorism

6SSPP337 Twentieth-Century Political Thought Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module [18]

Department of Political Economy

15 credits Module Convenor: Prof Jeremy Jennings Assessment: 2-hour examination (50%), 2,500-word essay (50%) Teaching Format: weekly 1-hour lectures and 1-hour seminars; each lecture and seminar will be devoted to a thinker or set of thinkers and their ideas; the seminars will take the form of an open discussion on a set reading for each week, and students are expected to have read the set text and to participate in discussion Pre-requisites: 5SSPP202 Modern Political Thought or 5SSPP209 Political Theory of Capitalism or History of Political Philosophy (for PPL students) This module introduces students to some of the most important texts of twentieth-century political thought. It does so through a close reading and analysis of a set of ten texts which can be said to be broadly representative of political thinking in the period from the beginning of the First World War to the collapse of the Soviet bloc in 1989. In examining these debates, students will become familiar with some of the central ideas and ideologies that have shaped the development of political activity in this period and that have defined our understanding of the activity of politics. The module will also help students understand the issues discussed in contemporary political theory and contemporary politics. This is a historically oriented political theory module where students are required to read and engage with primary texts throughout the module. Key Readings Julien Benda, The Treason of the intellectuals Simone de Beauvoir, The Second Sex Frantz Fanon, The Wretched of the Earth Michel Foucault, Discipline and Punish Sigmund Freud, Civilisation and its Discontents Michael Oakeshott, Rationalism in Politics Jean-Paul Sartre, Existentialism and Humanism Carl Schmitt, The Concept of the Political Georges Sorel, Reflections on Violence Max Weber, Political Writings

6SSPP341 Global Power Europe Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Tomas Maltby Assessment: 2-hour examination (50%), 2,500-word essay (50%) Teaching Format: weekly 1-hour lecture and 1-hour seminars The module will provide students with a theoretically-grounded understanding of the role of the European Union as an international actor. Using theories of international relations, European integration and Foreign Policy Analysis, it will analyse and evaluate the EU’s evolving external identity and policy capabilities across a range of external relations, including membership conditionality, trade and development, international crime and terrorism, asylum and immigration, foreign, security and defence [19]

Department of Political Economy

policy, and democracy and human rights promotion. The module will then examine the nature of key bilateral relationships between the EU and selected countries (US, Russia and China) and regions (former colonies, regional groups), explaining the extent to which they have been institutionalised and the challenges that define them. It will end by assessing what sort of international actor the EU ‘is’ and ‘wants to be’ – namely civilian, normative or military – and evaluating the likelihood of the EU emerging as a global superpower in the future. Lecture Schedule 1. Introduction: The EU as an International Actor 2. International Relations and the EU 3. Foreign Policy Analysis and Europeanisation 4. The EU Policy-Making Process and the ‘Capability-Expectations’ Gap 5. Power of Attraction: EU Membership and the Near Abroad 6. The External Face of Justice and Home Affairs: Crime and Terrorism 7. Rapid and Robust Intervention? Foreign, Security and Defence Policy 8. A Force for Good? Democracy and Human Rights Promotion 9. Economic Power: Promoting Trade and Regional Integration 10. EU Bilateralism and the US, Russia and China 11. The Future of Europe: The Birth of a Superpower? Key Readings Hill, S. and Smith, C. (eds.) (2011) International Relations and the European Union Oxford University Press Howorth, J. (2014) Security and Defence Policy in the European Union Palgrave Macmillan Keukeleire, S. and Delreux, T. (2014) The Foreign Policy of the European Union Palgrave Macmillan Smith, K. E. (2008) European Union Foreign Policy in a Changing World Polity Press McCormick, J. (2006) The European Superpower Palgrave Macmillan Manners, I. and Whitman, R. (eds.) (2001) The Foreign Policies of European Union Member States Manchester University Press

6SSPP342 International Institutions & Global Governance Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr James Scott Assessment: 2-hour examination (45%), 2,500-word essay (45%), Attendance & Participation (10%) Teaching Format: weekly1-hour lectures and 1-hour seminars This module aims to provide an advanced introduction to global governance and the key international institutions that form the basis of global governance. It will give a detailed knowledge of the institutional landscape through which international political and economic interaction is mediated. The analysis is grounded in the theories of International Political Economy (IPE) / International Relations. The specific aims of the module are to:  Build upon the IPE theory undertaken in other modules (e.g. Globalization and International Trade; Issues in International Politics; World Politics); [20]

Department of Political Economy

    

Provide an advanced understanding of the ways in which these theoretical traditions analyze the nature of global governance; Explore the range of actors that are engaged in global governance; Provide an historical background to the evolution of global governance; Engage critically with the manner in which global politics and economic issues are governed within the state system; and Understand contemporary challenges to existing governance structures brought about by the rising powers.

Learning Outcomes On successful completion of this course students will have:  a sound understanding of the theoretical and methodological concepts related to the study of global governance;  a detailed and in-depth knowledge of formative periods in the development of international political and economic governance;  an ability to analyse current issues in global governance in a theoretically informed and critical manner. Lecture Schedule 1. Introduction 2. Theories of IPE and global governance 3. The Origins of International Organisations: From the League of Nations to the UN 4. The UN and the use of Private Military Contractors 5. The International Criminal Court and the Pursuit of International Justice 6. Developing countries and International Institutions: UNCTAD, the New International Economic Order and heterodox economic analysis 7. Global Health Governance: tackling HIV/AIDS 8. The China Challenge: re-imagining global governance with the BRICs? 9. Philanthrocapitalism: individual private philanthropy in global governance 10. The International Labour Organisation and the governance of labour.

6SSPP343 Advanced Economic Analysis Semester 2 Available to:  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Amrita Dhillon Assessment: 2-hour examination (70%), 1,000-word essay (30%) Pre-requisites: 5SSPP221 Microeconomics and 5SSPP222 Quantitative Methods This module explores the contributions made by economic theory to several important economics problems. While the list of topics generally is quite flexible, the underlying theme will be the use of game theoretic modelling and the use of mathematical modelling and equilibrium concepts developed in economic theory. This year the main topics will be on Information Economics: how the fact that different agents have access to different information can affect their behaviour in markets. Thus, firms do not know the ability of applicants while the applicants do, the owners of used cars have much more [21]

Department of Political Economy

information on the cars than the buyers and so on. The most famous example is due to George Akerlof, who introduced the idea of “adverse selection” in the used car market. These ideas have now been applied in a wide variety of economics and political settings and the module will study some of these applications in depth. Some of the questions we will try to answer are: Why is there unemployment? Why do forms offer lower premiums to insures who accept a high deductible? These questions cannot be answered in the standard paradigm. The topics covered will be under the broad headings of:  Game Theory basics: Recap of Nash equilibrium, games with asymmetric information, principal agent problems and the corresponding equilibrium concepts. This part will build on the Microeconomics module 5SSPP221.  Static bilateral contracting: problems of Hidden Information: (a) Screening: basic models (b)Signalling  Static Bilateral Contracting: Problems of Hidden actions: moral hazard  Applications: Insurance markets, others, empirics  Relational Contracts and empirics (if time permits) Key Readings Introduction to Game Theory by M.J Osborne, OUP Contract Theory, 2005, by Bolton, P. and M.Dewatripont, MIT Press.

6SSPP348 Comparative Political Theory Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Humeira Iqtidar Assessment: two 2500-word essays (50% each) Teaching format: weekly 1-hour lectures and 1-hour seminars would be a useful introduction. Pre-requisites: No formal pre-requisites, but 5SSPP210 Stability and Change in Post-Colonial States This module is designed for students who are interested in deepening their understanding of emerging trends in political thought and political theory from Asia, Africa and Latin America. Linked closely to the research of the module convenor the course allows students to engage with cutting edge research on rethinking political theory by questioning both its Eurocentricism and its methodological repertoire. Further, the course will help students open up categories of analysis commonly used for analysing political developments in these parts of the world. From key trends in Islamic Political Thought to the many facets of Gandhi’s political thought, from the use of ethnography for reassessing categories to the influence of post-colonial political theory, the course is ideally suited for final year students focusing on political theory. Students in the course will:  Develop a nuanced understanding of the limitations of existing approaches to Political Theory and Political Thought.

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Department of Political Economy

  

Develop an in-depth understanding of key trends in political theory and political thought from Asia, Africa and South America Develop an in-depth understanding of key trends across select religious traditions Develop an understanding of new methodological options in developing political theory

Lecture Schedule 1. Why Comparative Political Theory? 2. Comparative Political Theory and Post-Colonial Theory 3. Political Theory, Political Thought and Intellectual History 4. Methodological Innovations 5. Islamic Political Thought: Beyond Testing Liberalism 6. The State and Islamic Political Thought 7. South Asia and the Political 8. Latin American Challenges 9. China: Redefining Categories 10. Africa Beyond Orientalism 11. Transforming Political Theory

6SSPP349 Empirical Political Economy Semester 2 Available to:  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Gabriel Leon Assessment: 1.5-hour examination (55%), 3,000-word essay (35%), attendance (10%) Pre-requisites: 6SSPP316 (Econometrics) This module will introduce students to a number of empirical methods currently used in political economy and development: randomised controlled trials, natural experiments, instrumental variables and regression discontinuity design. Students will learn when and how to use these methods. The emphasis will be on applications rather than derivations, and a large number of studies will be considered in detail, including one looking at the impact of female politicians on policy and another considering the long-term impact of war on development. Students will be:  Introduced to the most commonly used empirical methods in political economy and development;  Equipped with the skills to read and understand empirical papers in economics, political economy and political science;  Allowed to formulate their own empirical studies – including data collection, specification, and implementation;  Guided in interpreting empirical results and how they can inform existing theories in political economy and development; Lecture Schedule 1. Potential Outcomes Framework 2. Randomised Controlled Trials 3. Natural Experiments 1 4. Natural Experiments 2 [23]

Department of Political Economy

5. 6. 7. 8. 9. 10.

Natural Experiments 3 Instrumental Variables 1 Instrumental Variables 2 Instrumental Variables 3 Regression Discontinuity 1 Regression Discontinuity 2

Key Readings Angrist, Joshua and Joern-Steffen Pischke, 2009. Mostly Harmless Econometrics, Princeton University Press. Freedman, David, 2009. Statistical Models: Theory and Practice, published by Cambridge University Press. Stock, James and Mark Watson, 2012. Introduction to Econometrics, Pearson Education. Wooldridge, Jeffrey, 2003. Introductory Econometrics: A Modern Approach, South-Western College Publishing.

6SSPP353 Politics and Justice in International Law Semester 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Dr Carmen Pavel Assessment: 2-hour examination (45%), 2,500-word essay (45%), seminar presentation (10%) The module is structured around a series of questions about the nature, sources, justification, and effects of international law. Should the different countries obey international law? Is international law really ‘law?’ It is just? Who should enforce it? It will use international law cases to explore advanced philosophical and empirical questions about the character of international law. The module aims to equip students with an understanding of different perspectives on the value and purposes of international law, the ability to explore the assumptions and implications of each perspective, and to assess the way in which they inform debates about actual legal institutions and rules. Lecture Schedule 1. Introduction 2. History and Function 3. State Immunity 4. Criminal Responsibility 5. International Economic Law 6. International Environmental Law 7. The Concept of Law 8. Secondary Rules, Jus Cogens 9. Is International Law a legal System? 10. Is Skepticism of International Law Justified? Key Readings Malcom Shaw, International Law, seventh edition (Cambridge University Press, 2014). [24]

Department of Political Economy

H.L.A. Hart, The Concept of Law (Clarendon Press).

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Department of Political Economy

APPENDIX Modules from other Departments DEPARTMENT OF EUROPEAN & INTERNATIONAL STUDIES NB: Please note that this module will count towards your 30 credit allowance for options outside of DPE. 6AAOB308 The European Union in the International System Semester 1 & 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module NB: There are five places available for DPE students on this module; please contact your programme administrator if you would like to add this module to your selection for 2015/16. 30 credits NB: This is a 30-credit module running across both semesters. Module convenor: tbc Assessment: examination (40%), essay (45%), open-ed comment/analysis (15%) Teaching arrangements: weekly 1-hour lectures and 1-hour seminars The European Union of the 28 is the largest economy in the world and has for decades made its voice heard in trade, commercial and development matters. Since the Treaty of Maastricht, the EU has also become increasingly active in areas such as conflict prevention, democratisation, counter-terrorism and non-proliferation. This module centres on the varied roles the European Union and its member states plays in the international system. It provides students with the relevant theoretical grounding to analyse long-term trends as well as short-term dynamics in European foreign policy-making. The module will focus in depth on key EU policies such as trade, democracy promotion, counter-terrorism and defence, but will also investigate the EU’s relations with key countries such as the US, Russia and China. Students choosing this module should already have a good understanding of how the European Union works as well as an understanding of international relations theories. They should be also ready to engage with theories and concepts.

INSTITUTE OF CONTEMPORARY BRITISH HISTORY 6SSI8888 Money and Power: Development of the International Monetary System since 1945 Semester 1 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 15 credits Module Convenor: Prof Richard Roberts Assessment: examination (50%), 4,000-word essay (50%) The importance of the international monetary system is clearly evident from frequent news stories about exchange rate fluctuations and currency issues. Knowledge of how the international monetary system operates and has evolved is fundamental to understanding the development of the global economy - yesterday, today and tomorrow. The international monetary system has been a focus of both [26]

Department of Political Economy

international economic co-operation and currency wars. This course provides an overview of the development of modern international monetary regimes and their strengths and weaknesses. The final sessions focus on the international monetary system and the financial crisis of 2007-08, and current and future currency wars. Teaching The course consists of weekly one-hour lectures and weekly one-hour seminars on topics covered in that week’s lecture. The seminars allow for discussion, debates, consideration of thematic questions and critical engagement; students will need to undertake assigned readings to participate fully in the seminars, and make assigned seminar presentations. Lecture plan 1 Introduction and overview 2 Interwar Financial Instability and Currency Wars 3 Bretton Woods System: creation and development, 1944-1961 4 Bretton Woods System: crises and collapse, 1961-1973 5 Oil crisis, recession, floating and volatility: 1973-1982 6 Debt crisis and the dollar: 1980s and 1990s 7 The Euro: EMS to the single currency: 1970s – 2000s 8 Emerging Markets and Asia Crisis 1990s and early 2000s 9 Central bank independence and the ‘great moderation: 1980s and 1990s 10 Financial Crisis of 2007-08: Causes and Consequences 11 Currency Wars: today and tomorrow Key Texts There is no single course textbook. These books provide readable introductions to topics covered by the course: Eichengreen, Barry, Globalizing Capital: A History of the International Monetary System (Princeton University Press, 1996) Solomon, Robert, Money on the Move: The Revolution in International Finance Since 1980 (Princeton University Press, 1999) Singleton, John, Central Banking the Twentieth Century (Cambridge University Press, 2011) Volcker, Paul, and Toyoo Gyohten, Changing Fortunes: The World’s Money and the Threat to American Leadership (Times Books, 1992) Solomon, Robert, The International Monetary System: 1945-1981 (Harper & Rowe, 1982) Aldcroft, Derek H. and Michael J. Oliver, Exchange Rate in Regimes in the Twentieth Century (Edward Elgar, 1998) Rickards, James, Currency Wars: The Making of the Next Global Crisis (Penguin, 2011)

INSTITUTE OF MIDDLE EASTERN STUDIES 6SSJM300 Political Economy of the Middle East Semester 1 & 2 Available to:  International Politics – optional module  Politics of the International Economy/Political Economy – optional module 30 credits [27]

Department of Political Economy

NB: This is a 30-credit module running across both semesters. Module Convenor: Dr Hannes Baumann Assessment: examination (45%), 4,000-word essay (45%), 1,000-word briefing paper (10%) What’s it about? There is more to Middle East politics than Islam. How have socio-economic factors affected the “Arab spring”? How does corruption impact economic development? Does oil wealth give Arab states a greater say in international affairs or is it simply a different form of economic dependence? What is the role of the state in Arab economies? The course seeks to answer these questions by critically examining conceptions of domestic and global governance and applying them to the Arab states. The aims of this module are to provide students with an understanding of the theories and practices of Middle Eastern political regimes and their approaches to economic development and allow them to appreciate and participate in the debates and discussions that constantly rage in this area. How does it work? We will have a one-hour lecture each week, followed by a one-hour seminar. Seminars will start with a student presentation. Class discussion will tend to revolve around primary sources such as a statistical chart, excerpts from an IMF report, or media reports of recent corruption scandals. In order to apply your analytical skills, you will be asked to outline your own policy paper or develop economic and political strategies for governments, business elites, or trade unions. What’s in it? After a brief historical introduction, we will look at the role of IMF, World Bank and WTO in the region, relations with Europe and the United States, and the uses and abuses of foreign aid. The effects of oil – both on domestic and international politics – will naturally play a big part in the course. We will then turn to examining institutions. Does economic development promote democracy? What causes high levels of corruption in MENA? The effects of the “Arab spring” will be a constant theme but we will also dedicate our final session to the topic. What’s expected of me? No prior knowledge of economics or of Middle East politics and history is required. However, a keen interest in the political effects of economic power is indispensable. Key Readings Henry, C. & Springborg, R. (2010) Globalization and the Politics of Development in the Middle East, 2nd edition, Cambridge: Cambridge University Press. Hertog, S. (2010) Princes, Brokers, and Bureaucrats: Oil and the State in Saudi Arabia, USA: Cornell University Press. Heydemann, Steven (2004) Networks of Privilege in the Middle East: The Politics of Reform Revisited. New York: Palgrave MacMillan. Chaudhry, Kiren Aziz (1997) The Price of Wealth: Economies and Institutions in the Middle East. Ithaca and London: Cornell University Press. Bellin, Eva (2004) “The Robustness of Authoritarianism in the Middle East: Exceptionalism in Comparative Perspective,” Comparative Politics 36: 2, pp. 139-157.

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