INTERNATIONAL ECONOMICS AND GLOBALIZATION
INTERNATIONAL ECONOMICS AND GLOBALIZATION
Anno accademico 2022/2023
- Codice attività didattica
- Mario Aldo Cedrini (Titolare dell'insegnamento)
- Corso di studio
- Master's Degree Course in Area and global studies for international cooperation
- 1° anno
- Secondo semestre
- SSD attività didattica
- SECS-P/02 - politica economica
- Tipologia esame
- Tipologia unità didattica
- Students of "Area and Global Studies for International Cooperation" without previous experiences of studying Economics are invited to attend a "Preparatory course of Economics" offered by the Master's Degree. The course provides a basic introduction to the economics discipline, its main principles and the way of reasoning adopted by economists. It is generally divided into two main sections, devoted respectively to Micro- and Macro- Economics, and includes some basic knowledge of International Economics. The preparatory course starts right at the beginning of the Master's programme and runs for the duration of 6 weeks, with a total amount of 30 teaching hours; the course in International Economics and Globalization will thus start at the beginning of November.
Information concerning dates and registration will be available on the AGIC website.
The course aims at providing the basic theoretical instruments for the comprehension of the historical and ongoing processes of globalization in a "global political economy" perspective, that combines theory, history, and contemporary issues and debates, allowing students to understand the current debate about globalization and the main paradigms and orientations as regards international cooperation. The main focus is on how the policies of autonomous nations and regions interact at the international level in a globalized economy, and on the desirability of an international economic order (and related institutions) able to enhance the policy space available to member countries (and emerging economies in particular).
Risultati dell'apprendimento attesi
On completion, students will demonstrate:
- to have acquired knowledge of the terminology, principles, main techniques, and the historical evolution of the discipline of global political economy (knowledge and understanding),
- to have acquired the ability to understand theoretical and applied aspects conveyed by the textbook and complementary readings (knowledge and understanding),
- to be able to use the methods of global political economy and international macroeconomics to analyze socio-economic issues related to globalization, evaluate the available forms and possibilities of international cooperation, as well as to understand the current debate on economic policies in the international and in regional contexts (applying knowledge and understanding),
- to analyze the effects and implications of economic policies, as well as the trade-offs implied in policy-making, in environments shaped by strong regional and international interdependence (applying knowledge and understanding),
- to be able to identify rooms for maneuver available to policy-makers of national and regional entities in globalized contexts, and reflect upon the character of a desirable reform of the international architecture (making judgments),
- the autonomy of judgment, and the skills required to present in a logical and efficient manner the knowledge acquired during the course, in both oral and written form, by using communication forms adequate to different categories of listeners (communication skills),
- to be able to interpret available international macroeconomic data, showing full awareness of the existence of (and the possibility to use) different interpretative models for macroeconomic phenomena (applying knowledge and understanding),
- to detect the impact of globalization (de jure and de facto) on national countries' and regional economies' policy space (making judgments),
- to have acquired the competencies and abilities to learn required to apply in original manner methods and tools they have become familiar with during the course to conduct further autonomous research (in different contexts, that is in both professional contexts and in specializing educational contexts) intended to deepen, extend and update the course contents (learning skills).
Introduction to "international economics and globalization" as a field of study, and to global political economy as a discipline.
History and periods of globalization.
Basic principles and main theoretical tools of open-economy macroeconomics.
Anarchy in the international environment and the need for a global framework promoting the general interest: the historical evolution of the international economic order, from the gold standard of the first era of globalization to the current disorder.
The Bretton Woods system: the birth of a monetary system, its developmental orientation, the legacy of its "embedded liberalism" to today's world, and the continuing relevance of the "Keynes plan" for global reform.
The rise and fall of development economics in historical perspective, from the dawn of the discipline to recent approaches.
The problem of policy space in a globalized world: impact of globalization on the state; regionalism and globalization; the future of the international economic order.
South-South cooperation: relevance, challenges, opportunities.
Modalità di insegnamento
The course consists of 36 hours of frontal face-to-face lectures in English. Additional teaching materials will be available on the Moodle platform page for this course (students must register at the link reported at the bottom of the page).
Students will be actively engaged in learning and will be asked to apply and contextualize the theoretical concepts acquired in real-life issues by producing solutions and arguments for specific case studies.
Modalità di verifica dell'apprendimento
In general, in this course, assessment is through a written exam at the end of the course (requiring physical presence; it can be carried out remotely in the event that particular conditions arise, in compliance with Anti-Covid national protocols and future Rectoral Decrees) on the whole ensemble of topics covered during the course.
Students must take a 90-minutes written exam on the whole ensemble of topics covered during the course. This includes 5 short-answer questions (each yielding a maximum score of 2/30), needed to evaluate whether students have acquired the basic contents of the course (principles, methods, concepts, terms, and theories), and 2 long-answer questions (each yielding a maximum score of 10/30), which will serve to assess the acquisition of competencies and know-how required to analyze a problem related to globalization and international cooperation, suggest an interpretation, and adequate solutions, in full awareness of the complexity of such problems, which imply endless repercussions, and of the possibility to employ alternative basic assumptions and theoretical frameworks. To get access to the written exam, students must register online by using the Esse3 - System of the University of Turin, and an identification card. During the exam, it is not allowed to use mobile phones, textbooks, or notes of any kind, nor papers different from those that have been made available at the beginning of the exam. To pass the examination, students must reach a score of 18/30.
Presentation option: students who attend regularly can participate in group (3/4/5) work and prepare an oral presentation (with PowerPoint or similar tools) on a specific topic related to the course contents to be delivered between the end of the course and the beginning of the exam session(20 minutes in length; 10 minutes for discussion).
Presentations will investigate a specific issue treated in UNCTAD’s TRADE AND DEVELOPMENT REPORT, 1981-2011: Three decades of thinking development, available at: https://unctad.org/en/PublicationsLibrary/gds2012d1_en.pdf. They will first briefly introduce and historically contextualize the issue from an “international political economy” perspective (the textbook, suggested readings, and course slides provide the basic theoretical framework), by adopting the perspective of developing countries. They will then retrace earlier analyses of the selected issue in previous Trade and Development Reports (available at: https://unctad.org/en/Pages/Publications/TradeandDevelopmentReport.aspx), and find further developments and new elements for discussion in TDRs published from 2012 on.
Possible topics include, but are not limited to:
- The concept of policy space
- Nation-states, policy coordination, and global governance
- Financial liberalization, capital flows, and capital controls
- Export-led growth and its limits
- The Doha development round
- Instability in commodity markets and stabilization schemes
- UNCTAD’s neo-structural approach to development
- The developmental origins of Bretton Woods
- Debt, crises, and structural adjustment programs
- Development and policy-making: Strategic (the need to experiment) vs. comprehensive (one-size-fits-all) visions
- South-South cooperation
- The surrender of public authorities to the power of financial markets
- The rise and decline of fiscal policy
- The current international non-system: an interregnum of “productive incoherence”?
Given the collective-in-nature character of the presentation, and the need to evaluate the individual acquisition of competencies and individual abilities, students who opt for it have in any case to obtain a positive (that is, more than 12 over 20) score in an individual written examination, which consists of the abovementioned 2 long-answer questions (each yielding a maximum score of 10/30; the overall maximum score is 20/30, to be added to the essay score) on the basic contents of the course.
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Students who are forced to miss class and to take the exam online (if particular conditions* arise, in compliance with Anti-Covid national protocols and future Rectoral Decrees - please refer to this document: https://en.unito.it/sites/sten/files/instructions_how_to_request_online_exam.pdf and follow instructions therein included) are allowed to take an oral examination on Webex (https://unito.webex.com/meet/mario.cedrini) of some twenty minutes, aiming at verifying whether they have acquired the main contents of the course as well as the competencies required to analyze the problem of policy space in a context of globalization. The examination is based upon the textbooks and teaching material listed on this page (maximum score of 30/30).
Under these conditions, students who took the presentation option at the end of the course will take a reduced oral examination of 10/15 minutes on some basic contents of the course (maximum score of 20/30, to be added to the essay score).
When enrolling for the exam session, it is necessary to write in the "Note" section that
you are in one of the conditions that allow you to take the online exam. Note that the University can demand further in-depth analysis on what is self-certified.
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Testi consigliati e bibliografia
- Global Political Economy
- Anno pubblicazione:
- Oxford University Press
- John Ravenhill (ed)
- 1, 3, 4, 5, 8, 9, 10, 11, 12, 13
- Trade and Development Report 1981-2011. Three decades of thinking development
- Anno pubblicazione:
- Part 1 (chs. 1-6)
- Note testo:
- Available at: http://unctad.org/en/PublicationsLibrary/gds2012d1_en.pdf
The course employs "Global Political Economy", edited by John Ravenhill (Oxford University Press, 2016), as mandatory reading for both attending and non attending students, as well as main theoretical foundation for the understanding and analysis of globalization and international cooperation (chapters 1, 3, 4, 5, 8, 9, 10, 11, 12, 13).
The course is also based (suggested reading) on The United Nations Conference on Trade and Development (UNCTAD) "Trade and Development Report" (TDR), issued every year for the annual session of the Trade and Development Board. The Report analyses current economic trends and major policy issues of international concern, and makes suggestions for addressing these issues at various levels.
Students will also have to read (mandatory for both attending and non attending students) Part 1 (chapters 1-6) of the book "Trade and Development Report 1981-2011. Three decades of thinking development" (available at: http://unctad.org/en/PublicationsLibrary/gds2012d1_en.pdf).
As to suggested (non mandatory readings), students are invited to read the latest TDR (available at: http://unctad.org/en/Pages/Publications/TradeandDevelopmentReport.aspx) and some selected monographic chapters from some recent issues of the TDR, focusing on the reform of the international architecture (TDR 2015, chapter 3), policy space (TDR 2014, chapters 3, 4, 7), and international cooperation (TDR 2017, chapter 7).
Attending students will be given selected advanced material to read for further study (in any case, references to this material will be made available here in this website). Dani Rodrik's "The Globalization Paradox: Democracy and the Future of the World Economy" (Oxford University Press, 2012) is a highly recommended reading.
Note that, in general, teaching modalities evidently depend on the constraints imposed by the pandemic, and may change compared to those described here. Any change will be announced without delay.