Syllabus Template

2017

Course Syllabus POL311/ECN321

International Political Economy

Number of ECTS credits: 6

Contact Details for Professor

Tel: +32 472 031718

E-mail: Richard Higgott: [email protected] and
Steffi Weil: [email protected]
Office hours: e-mail for appointment or Tuesdays 16.45-17.45
Class time: Wednesday 13.30 -16.30

Course Description
In this course we will analyse developments in international political economy (IPE)
from a range of theoretical and methodological approaches. You will explore the
following topics: (i) reflect on the competing theoretical perspectives in IPE: realism,
liberalism, constructivism as well as perspectives in a critical tradition dating back to
Marx. (ii) look at how the globalization of trade and finance developed in the 19th
and 20th centuries, highlighting the importance of hegemonic states such as Imperial
Britain and later the USA, and elaborate on the key role of the post-war institutions in
global economic governance (International Monetary Fund, World Bank, GATT/World
Trade Organisation) and in the contemporary post-2008 global financial crisis. We will
analyse how states and non-state actors confront the challenge of a globalized
economy, whether they determine its course or are prey to market demands, and
how globalization has affected the location and nature of production. We will
elaborate on processes of regional integration through the competing perspectives of
IPE theories. Economic globalization has a distinct impact on patterns of inequality
within and between states, and this is closely linked to discussions about what
constitutes ‘development’ and how this can be best achieved.

Course Prerequisites (if any)

POL 101 or ECN 101

1
2
Learning Objectives

Major Learning Objectives Course Learning objectives addressing Methods used to Teach Methods (and Type, Timing and Numbers
the Major Objectives (choose the most Course Objectives numbers/types of of Feedback given to
important ones that your course actually assignments) used Student
addresses) to test these learning
objectives
The bachelor has a profound - The course teaches you on the role and Lectures address real-life 2 Written exams (mid- Oral and written feedback on
knowledge of the main actors importance of post-war institutions in global problems, student lead and term & final) exams (Week 8 mid-term exam
and the main processes in economic governance (International Monetary critically engage in 1 Research Proposal and week 15 final exam)
European and global Fund, World Bank, GATT/World Trade discussions, critically discuss 1 Term paper Written feedback on term papers
international affairs and is able to Organisation) to the international liberal order readings Discussions (weekly) (after week 12) & News corner
apply this knowledge in the - You learn how to judge and analyse the Critical leading Seminar (weekly)
current international affairs. impact of the post-war institutions on the liberal (weekly) Weekly written feedback on
order and the sovereignty of the nation state discussions / critical leading
- The course teaches how to analyse states and seminar
non-state actors that confront the challenge of a Oral feedback research
globalized economy, ask whether they proposal (week 4)
determine its course or are prey to market Written Feedback on research
demands proposal week 6

The bachelor has a demonstrable - The course teaches you to analyze, compare Guided reading (reading 2 Exams (Essay Oral and written feedback on
insight in the theoretical and and understand competing theoretical questions) question) exams (Week 8 mid-term exam
historical frameworks in the perspectives in IPE: realism, liberalism, Critical leading seminar where 1 Term paper and week 15 final exam)
academic literature on constructivism as well as perspectives in a students first analyse the Written feedback on term papers
international affairs. He is able to
critical tradition dating back to Marx theories before explaining (after week 12) & News corner
apply these frameworks in order - You will learn how to put IPE theories in a them to their follow students (weekly)
to understand and interpret the broader context of the international sphere and Student lead discussions
current processes and dynamics to understand challenges to the liberal Lectures where theories are
in international affairs. international order and global governance explained
- The course develops an understanding on
processes of regional integration through the
competing perspectives of IPE theories
The bachelor has insight into the - It teaches you to assess critically how Lectures Exams Oral and written feedback on
broad societal context and is able globalization has affected the location and Student-led Discussion Graded discussion exams (Week 8 mid-term exam
to take this societal context into nature of production and week 15 final exam)
account in the analysis and Weekly written feedback on
interpretation of current problems discussions
in international affairs.
The bachelor knows and is able
to apply common qualitative and
quantitative research methods

3
 Major Learning Objectives Course Learning objectives addressing Methods used to Teach Methods (and Type, Timing and Numbers
the Major Objectives (choose the most Course Objectives numbers/types of of Feedback given to
important ones that your course actually assignments) used Student
addresses) to test these learning
objectives
and is able to apply these in the
field of international affairs.
The bachelor has an open and The courses teaches you how to critically Discussion guidelines are Critical student leading Weekly written feedback
academic attitude, characterized engage in academic discussions and how to explained during lectures seminar
by accuracy, critical reflection and judge and criticize academic literature Students create a seminar on Critical discussions
academic curiosity. the bases of the readings – readings
are discussed during lecture,
students learn during the seminar
and discussions how to read,
analyze and judge academic
literature
Professors monitors and if
necessary intervenes in the
discussions

The bachelor is able to apply a

multi-disciplinary perspective in
his analysis of international
affairs.
The bachelor is able to work in a
multi-cultural team.
The bachelor recognizes the
importance of life-long learning.
The bachelor is able to You will practice you how to lead a discussion, Student-led seminars; constant Leading seminars & Written feedback after exercises
communicate clearly, fluently and lead a seminar, to argue on specific topics and engagement in in-class Discussions
accurately; as well in a written to work in a team and to critically assess your debates; instructions for the
report as in an oral presentation. own abilities. research proposals and paper.
The bachelor is able to include The course will critically reflect on the impact of In-class debates – debates Leading seminar Weekly written feedback
ethical judgments in his analysis economic globalization on patterns of inequality with the lecture
of current problems in within and between states and poses questions Critical leading seminar
international affairs and assesses on what constitutes ‘development’ and how this
the impact of these ethical can be best achieved.
judgments on the solutions
proposed for current international
affairs.

4
Course schedule

WEEK 1 Introduction: What is International Political Economy (IPE)?

The first session involves an introduction to the main themes of the course, the
methods of assessment, and course schedule. Expectations in terms of content,
structure and attitudes to the course are discussed. IPE is explained in a nutshell and
you receive information about the availability of reading materials and guidelines on
how to write a paper and a research proposal. Furthermore you will have the
opportunity to select your ‘critical leading seminar’ slot.

Essential Reading:

O’Brien and Williams (2013), Chapter 2 (18 pages)

Ravenhill (2014), Chapter 1 (23 pages)

Richard Higgott 'Economics, Politics and (International) Political Economy: The Need
for a Balanced Diet in an Era of Globalisation', New Political Economy, 4 (1) 1999:
23-36
Questions for Consideration:
1. How does IPE differ from International Relations (IR) on the one hand and
international economics (IE) on the other?
2. What are the drivers of IPE as a mode of analysis?
3. What are the key issue areas for study in IPE?
4. How does IPE’s methodologies differ from IR and IE?

WEEK 2 Theoretical Origins and Approaches to IPE

We analyse the history of competing IPE theories and their relevance to the
academic discipline, as well as their usefulness in understanding real-world
problems. This is examined in contemporary context partly through the prism of the
“Great Recession”.

Essential Reading:

O’Brien and Williams (2013), Chapter 1 (15 pages)

Ravenhill (2014), Chapter 2 (25 pages)

Richard Higgott and Matthew Watson ‘At Sea in a Leaky Boat: Jerry Cohen’s
Uncomfortable Voyage in Trans-Atlantic International Political Economy,’ with Mat
Watson, Review of International Political Economy, 15 (1) 2008: 1-17.

Recommended Reading:

5
Adam Smith, Excerpts from the Wealth of Nations (16 pages)

Karl Marx and Friedrich Engels, Excerpts from Capital and Communist Manifesto (16
pages)

Robert E. Keohane and Joseph S. Nye (2005) ’Realism and Complex

Interdependence’, reprinted in C. Roe Godard & Patrick Cronin & Kishore C. Dash
(eds.), International Political Economy: State-Market Relations in a Changing Global
Order, Basingstoke: Palgrave MacMillan, 2nd Edition.

Questions for Consideration

1. How were competing theoretical perspectives shaped by the historical context

in which they were framed?
2. How valuable are these theories for an understanding of real-world problems
today? In what ways are Karl Marx and Adam Smith ‘modern’ thinkers?
3. Can the global economic crisis be best understood through realist, liberal,
constructivist or critical IPE perspectives?

WEEK 3 Political Economy of Global Trade

The second half of the 20th century saw a massive expansion in patterns of global
trade, underpinned by global free trade agreements (negotiated in the GATT MTN
Rounds culminating in the creation of the WTO), as well as regional free trade
agreements and customs unions (e.g. precursor of the EU).

Essential Reading:

Ravenhill (2014), Chapter 5

Brookings, ‘A Principled History of GATT and the WTO’,

https://www.brookings.edu/wp-
content/uploads/2016/07/selfenforcingtrade_chapter.pdf

Higgott, Richard ‘Not Just a Second Order Problem in a Wider Economic Crisis:
Systemic Challenges for the Global Trading System’, Business and Politics, 11(3)
2009: 1-29

Recommended Reading:

Amrita Narliker, The World Trade Organisation: A Short Introduction, Oxford: OUP,
2005

Craig van Grasstek, The History and Future of the World trade Organisation, 2013,
https://www.wto.org/english/res_e/booksp_e/historywto_e.pdf

O’Brien and Williams (2013), Chapter 6 (25 pages)

6
Ruggie, John Gerard (1982), ‘International Regimes, Transactions, and Change:
Embedded Liberalism in the Postwar Economic Order’, International Organization, 36
(2), 379-415.

Robert Z. Lawrence (2005), “Regionalism, Multilateralism and Deeper Integration:

Changing Paradigms for Developing Countries’ in C. Roe Godard et al. (eds.),
International Political Economy: State Market Relations in a Changing Global Order.

Martin Khor, Criticisms of the World Trade Organisation,

https://en.wikipedia.org/wiki/Criticism_of_the_World_Trade_Organization

Questions for consideration

1. Are there historical precedents for this exceptional interdependence of

economies?
2. What are the strengths and weaknesses of the theory of comparative
advantage
3. To what extent is the globalization of trade a unique phenomenon of today’s
world?
4. Does free trade have a differentiated impact on particular countries or regions
of the world?
5. Account for the back lash against free trade?

WEEK 4 Political Economy of Global Finance

Globalisation of finance has accompanied the globalization of trade, and is

underpinned by key historic developments such as the abandonment of fixed
currencies and the move to freely floating currencies.

Essential Reading:

Ravenhill (2014), Chapter 7

Susan Strange, ‘What Theory: The Theory in Mad Money’,

http://wrap.warwick.ac.uk/2107/1/WRAP_Strange_wp1898.pdf

Recommended Reading:

Benjamin J. Cohen (2005), ‘Monetary Governance in a Globalized World’ in C. Roe

Godard et al. (eds.), International Political Economy: State Market Relations in a
Changing Global Order.

Higgott, Richard and Jessica Hodder ‘The IMF and the Challenge of Global Financial
Regulation’ in Mario Telo (ed.) Globalisation, Multilateralism, Europe: Towards a
Better Global Governance? Aldershot, Ashgate. 2014.

7
‘Minsky’s Moment’, The Economist, July 30th 2016, 52-3

O’Brien and Williams (2013), Chapter 8 (27 pages)

C. Roe Godard (2005) ‘The International Monetary Fund’, idem

Susan Strange, Mad Money, Manchester University Press, 1998

Kishore C. Dash (2005) ‘The Asian Economic Crisis and the Role of the IMF’, idem

Question for Consideration

1. Account for the deregulation of the global financial system

2. Does it have more positive or negative effects for national economies?
3. What are the risks and opportunities involved in globalization of finance? Was
it responsible for the recent economic crisis?

WEEK 5 Research Paper & Proposal

During this lecture we will first explain what is expected from you in your paper and
your research proposal. Furthermore you will have the opportunity to discuss your
research proposal and first ideas on your paper. You will be able to pose questions
and critically reflect on your paper topic, your analytical framework and how you will
structure your argument. Also if you have further questions on the mid-term exam for
example the grading scheme or content related issues, this is the time to pose them.

WEEK 6 Re-cap on lectures, discussion and reflection in the

backdrop of the mid-term exam

Research Proposal due !!!

WEEK 7 Mid-term Exam

WEEK 8 States and Political Actors in the Globalized Economy

Feedback on the Mid-term exam

The collective decisions of states were behind the process of economic globalization.
But some states more equal than others in the global political economy Are states still
in control of the process of economic globalization? Is the modern state subservient
to the demands of global markets and the unpredictable flows of global capital? Does
economic globalization limit the potential for radical economic solutions? Does
globalization undermine the viability of national welfare states where these exist?
Can states develop viable strategies that support their position in the global economy
while addressing the democratic, social and economic concerns of their citizens?

8
Why do some countries adopt different strategies to deal with economic globalization
than others?

Essential Reading:

Ravenhill (2014), Chapter 4 and Chapter 10 (60 pages)

Richard Devetak and Richard Higgott, ‘Justice Unbound: Globalisation, States and
the Transformation of the Social Bond, International Affairs, 75 (3) 1999: 493–598

Recommended Reading:

Susan Strange, States and Markets, London: Pinter 1988.

Philip G. Cerny (2006), ‘Political Globalization and the Competition State’ Chapter 26
of (eds.) Stubbs & Underhill, Political Economy and the Changing Global Order.

Richard Higgott ‘The Theory and Practice of Global Economic Governance in the
early 21st century: the Limits of Multilateralism’, in Wyn Grant and Grahame Wilson
(eds.) The Consequences of the Global Financial Crisis, Oxford: Oxford University
Press, 2012

Weiss, Linda, (1997) ‘Globalization and the Myth of the Powerless State’, New Left
Review, 225: 3-27.

Anderson, Gosta-Esping (1996)“After the Golden Age? Welfare Dilemmas in a Global

Economy,” in Gøsta Esping-Andersen (ed.), Welfare States in Transition, Thousand
Oaks: Sage Publications.

Sven Steinmo (2003) ‘Bucking the Trend? The Welfare State and the Global
Economy: The Swedish Case Up Close’, New Political Economy, 8 (1): 31-48.

Questions to be Addressed

1. Are states still in control of the process of economic globalization?

2. Is the modern state subservient to the demands of global markets and the
unpredictable flows of global capital?

3. Does economic globalization limit the potential for radical economic solutions?

4. Does globalization undermine the viability of national welfare states where these
exist? Can states develop viable strategies that support their position in the global
economy while addressing the democratic, social and economic concerns of their
citizens?

5. Why do some countries adopt different strategies to deal with economic globalization
than others?

9
WEEK 9 Regionalism and the Global Political Economy

In this session you will explore regionalism through the lens of different IPE theories.
We will explore questions on different forms of regional integration ranging from
Europe to East Asia. Asian regional integration is emerging in a distinct manner to
other parts of the world. ASEAN (Association of South East Asian Nations) for
example is supporting regional trade through loose bottom up regulations. Asian
regionalism in general is based on bottom up practices, which are in stark contrast
not only to the European Union but also to the current top-down liberal global order.
Another aspect on regionalism and the global political economy is trade governance.
Clearly the WTO is one of the main actors when it comes to governing global trade
yet lately states negotiate regional agreements that cover a great number of states to
ensure safe trading flows. We will explore the impact of these developments on the
global political economy

Questions to be Addressed

1. Is contemporary regionalism a product of globalization and compatible with it?

2. Or it is an alternative form of global economic order?

3. What is the role of the USA in the building of Mega-Regionalism

Essential Reading

Richard Stubbs and Geoffrey R.D. Underhill (eds.), Political Economy and the
Changing Global Order, Ontario: Oxford University Press, 3rd Edition, Chapters 23-
25, 28-34.

Richard Baldwin, ‘Multilateralising 21st Century Regionalism’, 2014

http://voxeu.org/article/multilateralising-21st-century-regionalism

Richard Higgott, Regional Worlds, Regional Institutions, 2016

http://www2.warwick.ac.uk/fac/soc/pais/research/researchcentres/csgr/papers/280-
16.pdf

Recommended Reading:

Van Langenhove, L. (2013) ‘What is a region? Towards a statehood theory of

regions’, Contemporary Politics, 19(4), 474-490.

Jetschke, A., & Lenz, T. (2013). Does regionalism diffuse? A new research agenda for
the study of regional organizations. Journal of European Public Policy, 20(4), 626-
637.

10
WEEK 10 Political Economy of European Integration (and
Disintegration?)

The European Union has been conceived by many IPE scholars as a prime example
of how states can come together to defend their interests in a globalized economy.
But recent events have raised a lot of questions.

Essential Reading:

Enrico Spolare, ‘The Political Economy of European Integration;, NBER, June 2015
http://www.nber.org/papers/w21250

O’Brien and Williams (2013), Chapter 11 (22 pages)

Samir Saran and Britta Petersen (2016) Beyond Brexit: What Ails the European
Union, Global Policy: http://www.globalpolicyjournal.com/blog/21/07/2016/orf-
report-beyond-brexit-what-ails-european-
union?utm_source=Global+Policy+List&utm_campaign=eb42437904-
RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_7c8b1a6824-
eb42437904-324846693

Recommended Reading:
Andrew Glencross (2014), ‘Integration and Democracy in the Shadow of the
Eurozone Debt Crisis’ in The Politics of European Integration, Chichester: Wiley
Blackwell, Chapter 12 (26 pages)

Ioannou, D. Leblond, P. and Niemann, A. (2015) European integration and the crisis:
practice and theory. Journal of European Public Policy, 22(2), 155-176.

Kelemen, R. D., Menon, A., & Slapin, J. (2014). Wider and deeper? Enlargement and
integration in the European Union. Journal of European Public Policy, 21(5), 647-
663.
Mitchell, K. (2014) Does European identification increase support for further
economic integration? Journal of European Integration, 36(6), 601-618

Manners, Ian: "European Communion: Political Theory of European Union", in:

Journal of European Public Policy, 20, 4 (2013); pp. 473-494.

Usherwood, Simon; Startin, Nick: "Euroscepticism as a Persistent Phenomenon", in:

Journal of Common Market Studies, 51, 1 (2013); pp. 1-16.

Dermot McCann (2010), The Political Economy of the European Union, Cambridge:
Polity Press, Chapters 2, 6, 7, 8 (67 pages).

Michael Smith (2006), ‘Negotiating Globalization: The Foreign Economy Policy of the
European Union’ in Richard Stubbs and Geoffrey R.D. Underhill (eds.), Political

11
Economy and the Changing Global Order, Ontario: Oxford University Press, 3rd
Edition.

Finn Laursen (2009), ‘The EU in the Global Political Economy: Overview of

Institutions, Instruments and Relations’ in Finn Laursen (ed.), The EU in the Global
Political Economy, Brussels: P.I.E. Peter Lang.

Questions to be Addressed

1. Does the recent European crises question the viability of the European model?
2. Is the EU able to shield its member states from some aspects of global
competition?
3. Does the financial crisis in the Eurozone represent an existential threat to
European integration?
4. Is the EU a model that can be adapted by other regions of the world?
5. How do we account for Brexit? What are its potential implications?

WEEK 11 Globalization, Inequality and Development

Paper due!

Does economic globalization increase or diminish inequality between as well as

within countries? Is it really possible to combat global inequality? Are institutions of
global economic governance able to address the challenge of inequality? What is
development and should it be defined primarily in social or economic terms?

Essential Reading:

Ravenhill (2014), Chapter 12

O’Brien and Williams (2013), Chapter 11 (22 pages)

IMF, ‘Globalisation and Inequality,

https://www.imf.org/external/pubs/ft/weo/2007/02/pdf/c4.pdf

Recommended Reading:

E Maskin, ‘Why Haven’t Global Markets Reduced Inequality in Emerging Economies,

World Bank Economic Review, 29 (Supplement 1) 2015: 548-552

Joseph Joyce, Globalization and Inequality Among Nations,

https://www.wellesley.edu/sites/default/files/assets/departments/economics/files/joyc
e-inequal2.pdf .

Ravi Kanbur, Globalisation and Inequality, 2007,

http://kanbur.dyson.cornell.edu/papers/GlobalizationAndInequality.pdf

12
Charles Gore (2005), ‘The Rise and Fall of the Washington Consensus as a
Paradigm for Developing Countries’ in C. Roe Godard et al. (eds.), International
Political Economy: State-Market Relations in a Changing Global Order.

Chang, Ha-Joon (2002) Kicking Away the Ladder: Development Strategy in Historical
Perspective, London: Anthem Press. (Chapter 2): 13-68

Rjchard Higgott and Heloise Weber, ‘GATS in Context: Development, an Evolving

Lex Mercatoria and the Doha Agenda’, Review of International Political Economy, 12
(3) 2005: 434-55
Wade, Robert Hunter (2003) What Strategy are Viable for Developing Countries
Today? The World Trade Organization and the Shrinking of ‘Developmental Space’’,
Review of International Political Economy, 10 (4): 621-644.

Questions to be addressed?

1. How has globalization changed our understanding of what is development. Should it

be defined primarily in social or economic terms?
2. What are the characteristics of the link between link between globalisation and
growing inequality?
3. Does economic globalization increase or diminish inequality between as well as within
countries?
4. Is it really possible to combat global inequality? If so what is the role of the existing
institutions of global economic governance, especially the World Bank and its
agencies. Are they currently equipped to address the challenge of inequality?

WEEK 12 Into the Future: the Global Economy in an Age of Populism and
Nationalism

The world has not really recovered from the crisis of 2007-8. This is both a political
problem, a policy problem and a scholarly problem. If IPE is to have any utility it
needs to bridge the gap between the single disciplines of international relations on
the one hand and international economics on the other. Does IPE offer us any
comparative analytical advantage beyond the single disciplines?

Essential reading

Eric Helleiner ‘Understanding the 2007-8 Global Financial Crisis: Lessons for
Scholars of International Political Economy’, Annual Review of Political Science, 14,
2011: 67-87

Mark Blythe ‘On Austerity’ https://www.youtube.com/watch?v=go2bVGi0ReE

Mark Blythe ‘Capitalism in Crisis: What Went Wrong, What Comes Next? Foreign
Affairs July August 2016: 172-79

Richard Higgott, “Resilience Strategies as a Response to Nationalists

as Actors of Foreign Cultural Policy”, Stuttgart, Insitut für AuslandBeziehungen, 2017

13
Recommended Reading
Martin Wolf, The Shifts and the Shocks: What we have leaned and what we have still
to Learn from the Financial Crisis, London:Penguin, 2014
Mark Blyth, Austerity: History of a Dangerous Ides, Oxford: OUP, 2013
Robert Shiller Finance and the Good Society, Princeton: Princeton University Press,
2012
Questions to be addressed
1. What caused the global financial crisis of 2007-8
2. Why did we not see the crisis coming?
3. Are there obvious policy prescriptions for reform?
4. Comment on the utility of austerity as public policy
5. To what extent do trends in the global political economy account for Brxit and
the election of Donald Trump?
6. How do we address the pressures of on the global economy emanating from
the twin urges of populism and nationalism?

Week 13: International Political Economy and Global Governance

The relationship between IPE and global economic governance is easier to see than
it is to put into practice. The institutional actors are obvious: IMF, World Bank, WTO,
G20 regional institutions. But other soft actors, especially transnational policy
networks are also important but less well understood.

Essential Reading
Ruggie, J. G. (2014). Global governance and “new governance theory”: Lessons from
business and human rights. Global Governance, 20(1), 5-17.

Richard Higgott Why Can’t We Govern the International Economy? Lessons From
Financial Crises and Beyond, Kuala Lumpur Penerbit University Sains Malaysia,
2013: 1-30.
Kaul, Inge ., Grunberg, Isabelle. and Stern, Marc A . (1999) ‘Defining Global Public
Goods’, accessed at:
http://web.undp.org/globalpublicgoods/TheBook/globalpublicgoods.pdf

Recommended reading
Stone, Diane (2008) ‘Global Public Policy, Transnational Policy Communities and
their Networks,’ Policy Studies Journal, 36 (10): 19-38.

14
Diane Stone, Knowledge Actors and Transnational Governance: The Private-Public
Policy Nexus in the Global Agora, Basingstoke: Macmillan Palgrave. 2013

Zedillo, Ernesto . et al, Meeting Global Challenges: International Cooperation in the

National Interest, Report of the International Task Force on Global Public Goods
(2006).

Richard Higgott and JJ Woo, ‘The Policy Turn in IPE’ in Stone and Moloney, eds,
The Oxford Handbook of Public Policy, Oxford: OUP 2018 forthcoming
Beeson, Mark and Stephen Bell (2009) The G-20 and International Economic
Governance: Hegemony, Collectivism, or Both?, Global Governance, 15: 67-86.

Whitman, Jim ed. (2009) Global Governance, Palgrave Macmillan. Chapt 1-3

Buthe, Tim and Walter Mattli, (2011) The New Global Rulers: The Privatization of
Regulation in the World Economy, Princeton University Press.

Cerny, (2009) Rethinking World Politics: A Theory of Transnational Neo-Pluralism,

Oxford: Oxford University Press

Harman, Sophie and David Williams, Eds. (2013). Governing the World? Cases in
Global Governance. Routledge.

Koppell, J. G. (2010). World rule: Accountability, legitimacy, and the design of global
governance. University of Chicago Press.

Mattli, Walter. and Ngaire Woods eds. (2009) The Politics of Global Regulation,
Princeton University Press.

Questions to be addressed
1. Is better global governance a serious policy option or is it a pipe dream in an
age of growing anti-globalisation and populist nationalist politics?
2. What is the current state of global governance? How functional are the
existing international institutions?
3. Do efforts to build new institutions at mega regional levels offer appropriate
alternatives to languishing global governance systems?
4. How do we get the balance right between the preservation of market freedom
and the regulation of market activity?

WEEK 14 Conclusions and Course Revision

This week we will the main topics covered in the course to prepare for the final
examinations.

WEEK 15 Final Examinations

15
Course Materials
John Ravenhill (ed.), Global Political Economy, Oxford: Oxford University Press, 4th
Edition, 2014.

References books
This course also makes extensive use of chapters from the following textbook:

Robert O’Brien and Marc Williams, Global Political Economy, Basingstoke: Palgrave
Macmillan, 3rd Edition, 2013.

Case Studies and Additional Sources:

Essential and recommended readings are listed in the syllabus for every session of
this course, although some material may be added as the semester progresses. The
readings are mainly book chapters and journal articles across the field of international
political economy. Students are expected to prepare these readings, which form the
basis for presentations and are extensively discussed in class. All essential and
recommended readings, apart from chapters of the required textbook (Ravenhill,
2014), are available to download as PDF documents on pointcarre.

In addition to the key specialist academic journals—International Organisation,

Review of International Political Economy, New Political Economy--students are
encouraged to read widely on current affairs, international relations, international
economics and finance. Particularly students should also look at the economics and
international relations sections of Project Syndicate (https://www.project-
syndicate.org). Reliable news sources (e.g. Financial Times, New York Times,
Reuters), specialist journals (e.g. Economist, London Review of Books), or postings
by major economic/political commentators are also encouraged. This list is not
exhaustive and students are encouraged to read widely in their areas of interest, if
possible in different languages. Students are encouraged to read sources that can
substantially reinforce their knowledge and challenge dominant assumptions or
common perceptions, helping them to link current issues to theoretical ideas from the
readings.

Course Assessment
The students will be evaluated on the basis of their performance as follows:

• Research Proposal 15%

• Critical Leading Seminar 15%
• Term Paper 20%
• Midterm examination 25%
• Final examination 25%
• TOTAL 100%

16
Grading Scale of Vesalius College

Vesalius College grading policy, in line with the Flemish Educational norms, is now as
stated follows:

Letter grade Scale of 20 Scale of 100

A 17.0-20.0 85-100
A- 16.1-16.9 81-84
B+ 15.3-16.0 77-80
B 14.5-15.2 73-76
B- 13.7-14.4 69-72
C+ 13.1-13.6 66-68
C 12.3-13.0 62-65
C- 11.5-12.2 58-61
D+ 10.7-11.4 54-57
D 10.0-10.6 50-53
F 0-9.9 0-49

Description of activities and Grading Criteria

In the first part of the lesson you will enjoy the lecture that aims to provide you with
an overview and information in the topic. You will need to prepare for this lecture with
the help of the reading so that you are able to follow the lecture and pose questions.

Oral presentation / Leading Seminar

The remaining time of the lecture is dedicated to a critical discussion that is based on
the leading seminar exercise. Each week a group of 2-3 students and will further
reflect and critically elaborate on the lecture topic by preparing a presentation on the
basis of the weekly lecture readings. You should evaluate the literature and to
criticize certain assumptions and arguments. Here the emphasis lies on critical
reflection. You are invited to challenge not only the reading material but also the
lecture material of the professor. First you will give a short presentation of the
seminar readings and afterwards you will lead the discussion in which you pose
critical question on the lecture readings and the lecture itself.

Students will not receive a group grade. Instead each student will be evaluated on the

17
basis of his/her own performance based on the following criteria:

Prepare a ppt presentation that (i) introduces the main points that the article raises;
(ii) critically reflects on the material and clearly stating the criticism (to simple repeat
what the arguments of the article is not enough). Instead you should indicate where
the author is wrong or where you see other perspectives the author should have
given. You should point out the blind spots; (ii) prepare and raise up to 2 questions
that emerge by the reading of the article; (iv) pose 1-2 questions that emerge from
lecture and critically reflect on it; (v) steer the discussion with your fellow students.
For the discussion you should pose and answer questions, motivate your fellow
students to contribute and summaries the main discussion points. The presentation
should take no longer than 10 Minutes. The discussion should take at least 10
minutes yet if it is fruitful you can further elaborate. You should conclude the
presentation. We (profs Higgott and Weil) are writing a book entitled Crisis of
Globalisation, Crisis of Global Governance: An IPE perspective. The structure of the
book mirrors the structure of the course. The lectures will in effect represent mini
chapters of the book. We will give you a copy of the outline of the book. You should
consider your tutorial discussion as a chance to comment on the book. We want you
to help us make it a better book. We encourage you to feel free to criticize us!! We
will value your feedback.

Research paper
In the research paper you will be able to apply and show what you have learned
throughout the course. You will elaborate on a research topic that is based on one of
the lectures.

The paper is due for in week 11. Please discuss the subject matter and elaborate the
topic with the help of a research question.

In your 3000 words papers you have to compare and contrast arguments by well-
known authors in the field of your topic. You should critically analyze the debates and
defend one interpretation over the other. For detailed grading criteria please consult
the rubrics table. Please make sure that you keep the given structure of the paper:

18
 1. Introduction
2. Literature Review
3. Methods
4. Analysis / Discussion
5. Conclusion

Please also provide a word count. The number of words should not deviate more
than 5% (150 words). You will be downgraded half a grade if the number of words
deviates more than 1000 words. Please base your analysis on at least 7 (below 7 fail)
peer-reviewed articles. Please be reminded that newspaper articles, governmental
reports and think-tank papers do not count as peer reviewed articles. If needed you
can make use of these sources but only in addition to the 10 peer-reviewed articles.
For each missing source you will be downgraded 1 point. You can choose your
reference style e.g. Harvard or APA but ensure that your style remains consistent
throughout the paper. If your style is in-consistent you will be downgraded by 2 points
(out of 3 for correct citation and bibliography).

Research Proposal
In order to successfully write a research paper you are asked to write a 500-700
words research proposal by week 6. This proposal will serve as a basis for your final
paper. In the proposal you will (i) define your research question and (ii) provide an
overview on your literature (at least 7!) and explain briefly why this is relevant to your
topic; (iii) indicate your theoretical framework; and (iv) explain your methodology.

In your research proposal you should already have a first idea on which literature to
use. In order to gain insights you need to start reading and researching from day one.
However, we don’t expect a full-length literature review. We ask you to list the
literature and explain in one or two sentences why you think this article/book is
helpful to solve your research puzzle.

In the written exams you will have to answer 10-15 short answer questions and
elaborate more deeply on certain topics by answering 1-2 essay questions.

19
Grading form for assignments (more than 10% of the final grade)

Leading Seminar

Descriptor Excellent 4-5 Satisfactory 2-3 Unsatisfactory 0-1

Presentation Very well structured; Well-structured, mostly focused Disorganized and
skills focused and clear presentation. unclear presentation.
presentation Appropriate visual aid (where Visual aid is not used
Good use of visual aid provided) or organized at best
(where provided) (where provided).
Leading Very good leading Overall engaging leading questions Uncertainty and
discussion questions; shows authority but not at all times clear to the discomfort in leading
and easiness in steering audience; confidence in steering debates; the leading
debates, critically reflects on debates, questions fail to
the lecture. Critical reflection on material intercept the
audience’s interest.
Material is not
critically assessed

Engagement Relevant follow-up Overall good ability to steer Inability to steer the
with the questions; ability to steer the discussions and to invoke some debates and to
audience debates and to keep the discussions engage with the
audience engaged audience
Content The student identifies the The student identifies the relevant Difficulties to identify
relevant arguments of the arguments and makes a link to the arguments, link it to
readings and makes a link to current debates current debates
current debates Ability to place reading in a wider Fails to place reading
Student places the reading academic context could be in a wider academic
in a wider academic context improved context
The student compares, The student is able to compare and Inability to critically
contrasts and synthesizes synthesis some of the arguments evaluate the literature
the main authors and but does not comprehend the full
arguments scope of the rationale
It evaluates strengths and Able to point at strengths and
weaknesses of the literature weaknesses of the literature but is
not able to further elaborate on it

20
Research proposal

0-1 2-3 4-5

Research The object of the The relevant components of The puzzle of the
puzzle and research is not clearly the research puzzle are not research is clearly
research identified and clearly identified. identified. The research
question presented. No clear The research question question is relevant
research question needs to be further and has good potential
sharpened and refined
Proposed No theory/concept The selected theory The selected
conceptual or introduced theory/concept does not fit theory/concept fits well
theoretical well the proposed analysis the proposed analysis
framework or is under-identified
Literature No or below 7 The student lists at least 7 7-10 articles are listed
overview articles/books are listed articles but explanation is Explanation is logical
in-sufficient or the selected and selected literature
literature is not or at times contributes to answer
not relevant to the research the question
question
Preliminary list No or insufficient Not all sources identified Promising list of
of reference academic source are good for developing the reference, including
included. paper. Mostly policy- both academic and
oriented sources. policy oriented
sources.
TOTAL /20

21
Written Paper
Criterion Description Points
Introduction Explain Choice of Topic and why it is academically relevant /2
and Context of topic within the academic debate / identifying briefly the gaps in /2
Research the literature that this paper is addressing/filling
Question /
Clear and Concise Research Question / Research Statement /2
Statement /
Puzzle Outline of structure of the paper and main argument /2
( /8 Points)
Literature The literature review identifies the relevant (i.e. to the chosen topic) /1
Review arguments and debates in the literature and places the student’s own topic in
the wider academic context
It compares, contrasts and synthesizes the main authors and arguments /1
( /4 Points)
It evaluates strengths and weaknesses of the literature and identifies the /1
gaps the student’s paper addresses
Based on the Literature Review, the student chooses a clear /1
theoretical/conceptual frame-work to be applied in the analysis part of the
paper
Methods The student chooses and justifies an appropriate method to tackle the /5
( /10 Points) research question
The student demonstrates the ability to select and present suitable data for /5
the analysis
Analysis / Extensive Analysis and Arguments supported by facts, empirical examples /5
Discussion and up-to-date data
Wide use and synthesis of sources and references to support key arguments /5
directly addressing the research question
( /20 Points)
Application of conceptual and theoretical frame-works /5
Critical and dialectic (thesis/antithesis/synthesis) evaluation of strengths and /5
weaknesses of core assumptions and arguments of other authors in non-
prejudicial and open-minded manner
Structure The paper is structured in a coherent and logical way – with clear /4
subsections – supporting the clarity of the argument and analysis
( /8 Points) A coherent line of argumentation, linking theories and empirical examples /4
back to answering the main research question.

Originality of The paper highlights a level of deep reflection of research, leading to /5

Thought arguments and ideas that go “beyond the obvious”.

( /5 Points)
Formal Correct use of language (spelling, grammar, expression) /3
Aspects Correct citation and bibliography /3
Appropriate Number of Sources /4
( /10 points)
Conclusions Stating in clear and succinct manner the result of the analysis and main /4
answer to the research question
( /10 points) Critical, open-minded and non-defensive evaluation the validity of the /6
student’s own arguments and results to explore further avenues of research
TOTAL Final and Overall Comments: Total

22
EXPLANATION OF POINT VALUES FOR EACH MARKER

Criterion/Marker A to A- B-D F
Introduction and Research Question / Statement / Puzzle
(8 points maximum)

Choice of Topic The author provides a clear and convincing The author provides an No or very weak
explanation of the choice of topic and explanation which is, however, not explanation provided
highlights its significance fully convincing
Context of Academic The author explains clearly and The author explains in general No or very weak
Debate convincingly the wider academic context terms how the individual paper explanation provided
(wider topic) related to the research relates to the wider academic
question and puzzle. Gaps in the literature debate and touches on gaps
are briefly identified
Clear Research The author provides a clear and The author provides a research Poorly designed research
Question / Clear meaningful research question. The question, but it lacks clarity, question
Research Statement research question is focused enough to conciseness or is not ambitious No research statement
enable an in-depth analysis and is enough (self-evident research
relevant and ambitious enough to allow question). Muddled or unclear
for original and critical engagement with research statement
empirical developments, theories and
author debates. The author provides a
research statement on how to tackle the
overarching research question. Sub-
questions are used if research question is
too complex
Outline of Structure The author provides a clear outline of the The author provides an outline of No or very weak outline
and Main Argument main argument and will how she/he will the main argument and an
structure the paper indication of the structure – but
lacks clarity
Literature Review Analysis (12 points) 3 points per marker
Relevant arguments The literature review identifies the relevant The literature review identifies No relevant literature is
and debates / (i.e. to the chosen topic) arguments and some relevant (i.e. to the chosen provided or only weakly
academic context debates in the literature and places the topic) arguments and some explored. Limited or no
student’s own topic in the wider academic debates in the literature. The wider academic context
context student places his or her own topic provided
in an academic context – but this
is not fully explored
Compare, Contrast The student compares, contrasts and The student mentions some of the No or very weak synthesis
and Synthesis synthesizes a wide range of key authors key authors and arguments, but and/or comparing &
and arguments in the literature review does not fully and actively contrasting or arguments
synthesize the material or and authors
compares and contrasts in a
limited manner; or only does one
of the two
Evaluation of The literature review evaluates strengths Some strengths and weaknesses No or very weak evaluation
Strengths/Weaknesses and weaknesses of the literature and of the literature are identified but – gaps not explained or
and Gaps identifies the relevant gaps the student’s the gap the student’s paper seeks weakly explained
paper addresses to address is not fully clear
Choice of Based on the Literature Review, the The student chooses a No or irrelevant
theoretical/conceptual student chooses a clearly and correctly theoretical/conceptual framework, theoretical/conceptual
framework defined and relevant theoretical/conceptual but it is not completely relevant framework chosen
frame-work for the main analysis and/or not clearly and correctly
defined
Methods (8 points) –
4 points per descriptor
Appropriate Method The student chooses, explains and The student chooses a method, No or irrelevant methods –
clearly justifies an appropriate method to but it lacks proper justification and no or weak
tackle the research question is only partially relevant / or not explanation/justification
fully explained
Selection of suitable The student demonstrates the ability to The student selects and presents No or poorly
Data select and present suitable data for the some data, but not always the selected/presented data
main analysis most suitable
Analysis/Discussion
(32 points)
Analytical arguments are illustrated with Arguments are occasionally Arguments are mostly
Extensive Analysis the help of clear and insightful empirical supported by empirical examples. unsubstantiated claims,

23
Criterion/Marker A to A- B-D F
and Arguments with examples. The author frequently The author occasionally absence of data or
empirical examples, substantiates arguments with the help of substantiates arguments with the empirical examples and
data and facts up to date data. The arguments are help of data even though this data large passages that do not
presented in a succinct way so as to is outdated. Arguments are not address the research
answer directly the overall research always linked back to the main question, undermining the
questions and sub-questions, ensuring a research question relevance of the main body.
high level of relevance.
Synthesis of wide Wide use and synthesis of sources and Occasional use and synthesis of No or very weak synthesis
range of sources references to support key arguments sources and references to support of sources – arguments do
directly addressing the research question. some arguments – some but not not address the research
The use of literature displays the author’s all arguments directly address the question directly
in-depth knowledge of the subject-matter. research question (i.e. passages
of irrelevant analysis/discussion)
Application of Excellent and clear application of Some application of the frame- No or very limited
theory/concepts conceptual and theoretical frame-works to works to some aspects of the application of the
the main analysis in the paper analysis in the paper theoretical framework
Evaluation of Critical and dialectic Evaluation of strengths and No or very limited
arguments (thesis/antithesis/synthesis) evaluation of weaknesses of some assumptions evaluation of strength and
strengths and weaknesses of core and arguments, but often counter- weaknesses – highly
assumptions and arguments of other arguments are not presented or biased or selective line of
authors in non-prejudicial and open- straw-man arguments are argumentation
minded manner (including the presentation provided. Some evidence of
of counter-arguments) selective argumentation

Structure ( /10 points) – 5points per marker

Clear Structure The paper is structured in a coherent and The structure is generally logical No or very
logical way – with clear subsections – and coherent, but at places unclear/incoherent
supporting the clarity of the argument and unclear – the sub-sections could structure
analysis be clearer or better organized
Clear and coherent A coherent line of argumentation (red Argumentation line is not always Unclear / absent line of
line of argumentation thread running through the entire paper), clear or coherent – theories and argumentation – fragments
linking theories and empirical examples examples are not always linked that are not linked back to
back to answering the main research back to the main research the research question
question. question
Originality of Thought
( /10 points)
Reflection and The paper highlights a level of deep The paper highlights some Standard argumentation
Arguments beyond the reflection about the topic, leading to reflection, providing some and obvious arguments
obvious arguments, ideas or combination of arguments that go “beyond the
examples/data that go “beyond the obvious”
obvious”
Formal Aspects(10)
Language and Spelling Correct use of language - correct spelling, Use of language with occasional Very flawed use of
grammar, and English expression (3 – 2.5) flaws in spelling, grammar and language with many
expression (2 – 1,5) spelling and grammar
mistakes
(1-0)
Citation Correct and consistent use of citation Occasional mistakes in citation Recurring mistakes in
method and correct bibliography (3 – 2.5) method and bibliography (2 – 1,5) citation and bibliography (2
– 1,5)
Number of Academic Appropriate number of academic sources Acceptable number of sources Inadequate number of
Sources used (please check progression document (2,5 – 2) sources used (1,5 – 0)
for your specific Major: Business Studies:
at least 12 sources; CMM: 20, IA: 10-15)
(4 - 3)
Conclusion (10)
Results (4) The student states in clear and succinct General conclusions are provided, Unclear conclusions /
manner the result of the analysis and main but research question is not fully absence of conclusions.
answer to the research question. (4-3) answered. (2,5 – 2) Research question is not
answered
(1,5 - 0)
Evaluation of own Critical, open-minded and non-defensive Some evaluation of the validity of No or weak evaluation of
arguments and further evaluation the validity of the student’s own own arguments, but more critical own arguments. No or
avenues for research arguments and results to explore further engagement with own arguments weak outline of further
(6) avenues of research (6 – 4,5) and further avenues for research research avenues
not fully developed (4 – 3) (3 – 0)

24
Additional Course Policies
Papers that are submitted three days after the deadline will not be accepted unless
there are serious legitimate reasons. Provision of a signed medical note is required,
and notice must be given prior to the deadline. For each day you submit later you will
loose 1 point.

Academic Honesty Statement

Academic dishonesty is NOT tolerated in this course.
Academic honesty is not only an ethical issue but also the foundation of scholarship.
Cheating and plagiarism are therefore serious breaches of academic integrity.
Following the College policy, cheating and plagiarism cases will be communicated in
writing to the Associate Dean for Students and submitted to the Student Conduct
Committee for disciplinary action.
If you refer to someone else’s work, appropriate references and citations must be
provided. Grammar, spelling and punctuation count, so use the tools necessary to
correct before handing in assignments.

25