The Political Economy of Globalization

GENED 1120 Subject & Catalog Number

Description

How can a globalizing world of differing countries – rich and poor, democratic and authoritarian – best promote inclusive growth and human security by meeting the challenges of inequality, climate change, rising populism, and war?

The world is profoundly interconnected through technology, commerce, capital markets, and the global challenges of climate change and public health. For decades, the international economic and geopolitical order favored and supported policies to meet the challenges of integration. But today, that order is under significant strain.

This course draws upon history, economic theory, and empirical evidence to shed light on the choices and trade-offs faced by governments, international institutions, businesses, and citizens as globalization evolves and this year we will explore why globalization—which has provided decades of prosperity and peace—is currently in turmoil. 

We will trace the history of globalization starting from ancient times to contextualize the issues of today. Topics for discussion will include: (i) fragmentation of international trade, once on a path of deeper integration, now marked by tariffs, a trade war between the U.S. and China and trade frictions between the U.S. and its allies; (ii) erosion of international norms such as territorial integrity and mutual trust; (iii) rising domestic polarization over immigration and inequality; (iv) challenges to the U.S. dollar as the world’s safe-haven currency; and (v) increasingly bleak prospects for collective climate and public health action. 

Our goal is to expose students to diverse and competing perspectives so they can develop their own informed views on globalization. Students will engage these perspectives through readings, guest lectures from leading policy experts, and in-class debates to explore critical issues from new angles.

We emphasize experiential learning.  Students will act as policymakers in negotiation simulations and write policy appraisals that advocate for specific positions. While the frameworks we emphasize reflect our backgrounds as economists, this course is designed for both economists and non-economists to gain a richer understanding of how theory and evidence applies to challenges of globalization.