Global Economic Policy
- Course Code:
- Unit value:
- Year of study:
- Year 3
- Taught in:
- Full Year
This course aims at providing students with a thorough understanding of core economic policy challenges in the contemporary global economy, and to equip them with the theoretical and applied skills necessary to evaluate and design policy solutions to such challenges. The course offers an overview over core economic policy issues in the global economy and ongoing theoretical as well as empirical debates about these. It places these debates into a wider historical context of the evolution of international economic policy regimes, and makes use of selected case studies to train students in the evaluation of economic policy design and implementation with specific emphasis on global economic governance.
The course is divided into three parts: Part I provides an overview over the history, theory and methods of economic policy and policy design, at national and international levels. Part II addresses core economic policy issues in the contemporary global economy, such as international monetary and financial integration, the changing organization of international production chains, growing income and social inequalities within and across economies, and environmental challenges. This part is divided into thematic modules, each of which provides students with a three-fold perspective on any particular policy area: an overview over relevant economic theory debates, a discussion of core policy issues currently arising in this area, and an in-depth analysis of selected applied policy problems. Part III of the course concludes with a summary analysis and discussion of the economic dynamics governing the global economy and the relevance of differing reform agendas.
(Note: For BSc Economics and BSc Development Economics students both these courses are core courses in year 2 of their degrees, but BA two-subject degree students can only take EITHER of these two courses in their year 2)
Objectives and learning outcomes of the course
On successful completion of the course, a student should be able to demonstrate the ability to:
- understand and differentiate between competing theoretical approaches to economic policy-making
- explain and problematize the evolution of the state-economy nexus in advanced and developing countries
- analyse and critically discuss core economic policy issues in the contemporary global economy, their history and current challenges
- understand core issues in the design, implementation and evaluation of economic policies, at national and international level
- demonstrate and apply basic skills in designing solutions to economic policy problems in the global economy
Method of assessment
Assessment weighting: Exam 80% / Coursework 20%. Resubmission of coursework regulations do not apply to this course.
- Acocella, N. et al. 2013. The theory of economic policy in a strategic context. Cambridge University Press.
- Panic, M. 2011. Globalization. A threat to international cooperation and peace? 2nd edition. Palgrave Macmillan.
- Taylor, C. 2011. A macroeconomic regime for the 21st century. Routledge Varoufakis, Y. 2011. The Global Minotaur. Zed Books