Global Political Economy

POSC 265
Carleton College
Winter 2005
Instructor: Julian Westerhout
Office: Willis Hall 413; phone x!4!
"#ail: $%esterh&carleton'e(u
Class: Willis Hall 211 )*)H 3:10+4:45
Office hours: )ues(a,s an( )hurs(a,s 10+11:30- an( ., appoint#ent
Course Description:
)his course pro/i(es an intro(uction to the theories a.out the relationship .et%een the
international political an( econo#ic s,ste#s' While no pre/ious expertise in the topic is
re0uire(- so#e (egree of a%areness of an( interest in %orl( affairs is expecte(' 1#ong other
things- %e %ill (iscuss the politics of econo#ic glo.ali2ation- international organi2ations- an(
international pu.lic polic,' We %ill utili2e the anal,sis of current e/ents to illustrate the theories
%e learn' 1t en( of the se#ester stu(ents ta3ing this course shoul( ha/e a .etter un(erstan(ing of
the interaction .et%een glo.al politics an( econo#ics'
Expectations and Evaluation:
4or all of us to get the #ost out of this course- ,our atten(ance an( participation are /ital'
)herefore contri.ution to class (iscussions is re0uire( an(- in con$unction %ith atten(ance-
#a3es up part of ,our final gra(e' 5ea(ing assigne( #aterials .efore class sessions %ill help ,ou
un(erstan( class (iscussions .etter- an( ,ou %ill .e responsi.le for 3no%ing the #aterial co/ere(
in the rea(ings in a((ition to %hat is (iscusse( in class' )here %ill .e two ui!!es co/ering the
rea(ings an( in+class acti/ities 6 the, %ill .e a #ixture of i(entification*(efinition- #ultiple
choice an( short essa,s' )here %ill also .e a "inal exam- %hich %ill .e #ore co#prehensi/e an(
%ill feature #ore in+(epth essa, 0uestions' 7ou %ill each %rite two memos ++ 1+2 page single+
space( pages reflecting on the rea(ings 8assign#ents for #e#os %ill .e #a(e (uring the class
session on )hurs(a,- Januar, 9:' 4inall,- ,ou %ill %rite a #$%#2 pa&e paper that %ill .e (ue on
;arch !' 7our gra(es %ill .e %eighte( as follo%s:
<articipation: 20=
>ui22es: 20=
;e#os 10=
<aper: 30=
4inal: 20=
1
Paper 'euirements
In the thir( %ee3 of the ter# %e %ill (iscuss the su.stanti/e options ,ou ha/e for the paper' )he
#echanics of the paper are as follo%s:
1: )he paper %ill .e 10+12 pages- not inclu(ing title page or %or3s cite( section'
2: 7ou %ill use 10 or 12 point )i#es font- (ou.le+space(- %ith 1? #argins on the left an( the
right- an( 1'5? #argins at the top an( .otto#'
3: 7ou %ill incorporate citations using an appro/e( st,le 81<@1 or 1<1- or other st,le pre+
appro/e( ., #e:- using en(notes- not footnotes'
4: 7ou are strongl, encourage( to use the %on(erful soft%are pac3age "n(note %hen %riting
,our paper 6 learning ho% to use this %ill greatl, strea#line ,our aca(e#ic %riting ., #a3ing
citation an( source #anage#ent far easier' )he Carleton Ai.rar, supports this soft%are- an( if it
is (esire(- %e can (e/ote part of a class session to the .asics' )r, it- an( I thin3 ,ouBll li3e itC
5: CarletonBs Writing Center can pro/i(e /alua.le assistance %ith the %riting process' 7ou can
fin( the# on the secon( floor of @co/ille- an( their %e.site can .e foun( at
http:**%e.apps'acs'carleton'e(u*ca#pus*asc*%riteplace*'
Extra Credit Opportunity
)hrough ;arch 3- ,ou %ill .e a.le to earn up to 30 0ui2 points in extra cre(it 8up to 15 points
each- %ith a #axi#u# of t%o su.#issions: ., fin(ing an( su.#itting a ne%s article relating to
I<" along %ith a t,pe( 1+2 page single+space( anal,sis*explanation of %hat aspects of I<" are
(e#onstrate( in or ., the ne%s article'
(ccommodation o" Special )eeds:
If ,ou ha/e a (ocu#ente( ph,sical or learning (isa.ilit, that %ill affect ,our a.ilit, to co#plete
the assign#ents in this class in a ti#el, #anner- I %ill #a3e acco##o(ations for ,ou' If ,ou
nee( extra ti#e or assistance in co#pleting assign#ents- ,ou #ust tell #e (uring the first %ee3
of class'

Statement on Pla&iarism and (cademic Dis*onesty:
While incorporating the thoughts of others into ,our %or3 is allo%e( 8an( re0uire( %hen ,ou
%rite ,our paperC:- ,ou #ust .e sure to gi/e cre(it %here it is (ue' 1n, 0uotations #ust .e
clearl, #ar3e( an( correctl, cite(- an( i(eas or concepts ,ou ha/e gotten fro# the %or3 of
others #ust also .e cite(' If ,ou are unsure ho% to properl, cite sources in ,our %or3 see #e-
an( I %ill .e gla( to help ,ou' <resenting the %or3 of others as ,our o%n 8%ithout citation: is
plagiaris# 6 that is- cheating- an( %ill result in a failing gra(e for the course'
In a((ition- an,one foun( cheating on a 0ui2 or exa# %ill also fail the course' If ,ou nee( help-
as3 #e' Do not engage in aca(e#ic (ishonest, of an, t,pe 6 if in (ou.t- (onBt (o it 8or as3 #e
for clarification:'
2
'eadin&s:
)he texts liste( .elo% %ill .e the pri#ar, rea(ings for the course' )%o texts are re0uire(- an(
there are se/eral liste( as optional 8%e %ill rea( portions of these .oo3s- an( reser/es %ill .e
a/aila.le 6 purchasing these .oo3s is not re0uire(- .ut co#pleting the rea(ings assigne( fro#
the# +S re0uire(:'
)here %ill .e other rea(ings (uring the se#ester 6 these %ill largel, .e topical in nature 8often
fro# The Economist- an excellent #aga2ine if ,ou are intereste( in international affairs:- an( %ill
pro/i(e a spring.oar( fro# %hich %e can (iscuss the theories %e are stu(,ing in the context of
current e/ents' I #a, also occasionall, pro/i(e supple#entar, rea(ings if I feel the, are
necessar,' )hese rea(ings %ill .e #a(e a/aila.le /ia e+reser/e- an( #a, also .e (istri.ute( in
class'
'euired purc*ase texts:
Global Political Economy: ,*eory and Practice- ,*ird Edition. Cohn- )heo(ore H' 82005:'
<earson Aong#an' I@EF: 0+321+20G4G+4 p.3
+nternational Political Economy. 4rie(en- Jeffr, an( Da/i( Aa3e 82000:' Wa(s%orth )ho#son'
I@EF: 0+312+1!G9G+G p.3

'ecommended:
Globali!ation and its Discontents' @tiglit2- Joseph "' 82003:' W'W' Forton H Co#pan,' I@EF:
0+3G3+3243G+ p.3
+n De"ense o" Globali!ation. Ehag%ati- Jag(ish 82004:' Oxfor( Ini/ersit, press' I@EF: 0+1G5+
1025+3 h(.3
,*e /ystery o" Capital: 0*y Capitalism ,riump*s in t*e 0est and 1ails Everyw*ere Else.
De @oto- Hernan(o 82003:' Easic Eoo3s' I@EF: 0+495+01915+4 p.3
Course Outline:
Class mt& 'eadin&s Sub2ect3topic
)ue Jan 4
W""J 1
4ames 5roo6e:
KDo%n an( 1l#ost Out in ;ongolia-? NY Times
12*2G*04
Economist (rticle:
K<lu#.ing the Depths-? Economist 12*30*04
Han(ing out*re/ie% of s,lla.us
3
)hu Jan 9
W""J 1
Co*n:
Chapter 1' Intro(uction
1rieden and 7a6e:
Intro(uction'
Co*n:
Chapter 2' ;anaging the Llo.al "cono#, @ince
Worl( War II: )he Institutional 4ra#e%or3
What is KInternational <olitical
"cono#,? 8I<":M
Eroa( historical o/er/ie% of I<" topics
)ue Jan 11
W""J 2
Co*n:
Chapter 3' )he 5ealist <erspecti/e
Chapter 4' )he Ai.eral <erspecti/e
)heoretical perspecti/es 81:
)hu Jan 13
W""J 2
Co*n:
Chapter 5' )he Historical @tructuralist <erspecti/e
1rieden and 7a6e:
Chapter 1: @tate <o%er an( the @tructure of
International )ra(e- ., @tephen D' Jrasner
1rieden and 7a6e:
Chapter 2: )he <olitical "cono#, of the @#oot+
Ha%le, )ariff- ., Earr, "ichengreen
)heoretical perspecti/es 82:
)ue Jan 1!
W""J 3
Elinor Ostrom 8e%reserve9:
KInstitutional 5ational Choice 1n 1ssess#ent of the
Institutional 1nal,sis an( De/elop#ent 4ra#e%or3?
1rieden and 7a6e:
Chapter 3: Institutions an( "cono#ic Lro%th: 1
Historical Intro(uction- ., Douglass C' Forth
1rieden and 7a6e:
Chapter 4: @tates- 4ir#s- an( Diplo#ac,- ., @usan
@trange
Co*n:
Chapter 9: International ;onetar, 5elations
Quiz Number One
)heoretical perspecti/es 83:
;onetar, aspects of I<" 81:
)hu Jan 20
W""J 3
1rieden and 7a6e:
Chapter 13: )he Do#estic <olitics of International
;onetar, Or(er: )he Lol( @tan(ar(- ., Aa%rence
Ero2
Chapter 15: )he )ria( an( the Inhol, )rinit,:
<ro.le#s of International ;onetar, Cooperation- .,
Een$a#in J' Cohen
1rieden and 7a6e:
Chapter 1!: )he O.solescence of Capital ControlsM
"cono#ic ;anage#ent in an 1ge of Llo.al
;ar3ets- ., John E' Loo(#an an( Aouis W' <aul,
Sti&lit!:
Chapter 4: )he "ast 1sia Crisis
5*a&wati:
Chapter 13: )he <erils of Lung+ho International
4inancial Capitalis#
Co*n:
Chapter ' 4oreign De.t
;onetar, aspects of I<" 82:
4
)ue Jan 25
W""J 4
Co*n:
Chapter !' Llo.al )ra(e 5elations
Sti&lit!:
Chapter 9: Infair )ra(e la%s an( other ;ischief
Chapter: Eetter 5oa(s to the ;ar3et
1rieden and 7a6e:
Chapter 1G: <rotectionist )ra(e <olicies: 1 @ur/e, of
)heor,- "/i(ence- an( 5ationale- ., Cletus C'
Coughlin- J' 1lec Chr,stal- an( Leoffre, "' Woo(
1rieden and 7a6e:
Chapter 20: Co##erce an( Coalitions: Ho% )ra(e
1ffects Do#estic <olitical 1lign#ents- ., 5onal(
5ogo%s3i
)ra(e an( I<" 81:
)hu Jan 2
W""J 4
1rieden and 7a6e:
Chapter 21: )he <olitical "cono#, of )ra(ing @tates:
4actor @pecificit,- Collecti/e action <ro.le#s- an(
Do#estic <olitical Institutions- ., Ja#es "' 1lt an(
;ichael Lilligan
1rieden and 7a6e:
Chapter 22: 1re 7our Wages @et in Eei$ingM E,
5ichar( E' 4ree#an
1rieden and 7a6e:
Chapter 23: )he <olitical "cono#, of Fon+)ariff
Earriers: 1 Cross+national 1nal,sis- ., "(%ar( D'
;ansfiel( an( ;arc A' Eusch
)ra(e an( I<" 82:
)ue 4e. 1
W""J 5
Luest @pea3er 8)E1:
)hu 4e. 3
W""J 5
1rieden and 7a6e:
Chapter 2G: "n/iron#ental <rotection an( 4ree )ra(e:
1re )he, ;utuall, "xclusi/eM ., 1lison Eutler
Co*n:
Chapter G' 5egionalis# an( Llo.al )ra(e 5egi#e
1rieden and 7a6e:
Chapter 24: "xplaining Eusiness @upport for
5egional )ra(e 1gree#ents- ., 5onal( W' Cox
:evin 0at6ins 8e%reserve9:
Is the W)O AegitM
1rieden and 7a6e:
Chapter 30: Llo.ali2ation an( the Changing Aogic of
Collecti/e 1ction- ., <hilip L' Cern,
)ra(e an( I<" 83:
5egionalis# an( Llo.ali2ation 81:
5
)ue 4e. !
W""J 9
1rieden and 7a6e:
Chapter 31: @ense an( Fonsense in the Llo.ali2ation
De.ate- ., Dani 5o(ri3
Co*n:
Chapter 10' ;ultinational Corporations an( Llo.al
<ro(uction
1rieden and 7a6e:
Chapter G: )he ;ultinational "nterprise as an
"cono#ic Organi2ation- ., 5ichar( "' Ca/es
1rieden and 7a6e:
Chapter 10: )hir( Worl( Lo/ern#ents an(
;ultinational Corporations: D,na#ics of HostBs
Eargaining <o%er
Quiz Number Two
5egionalis# an( Llo.ali2ation 82:
;FCs fro# an I<" perspecti/e
)hu 4e. 10
W""J 9
Luest @pea3er 8)E1:
)ue 4e. 15
W""J
5*a&wati:
Chapter 1: 1nti+Llo.ali2ation: Wh,M
Chapter 2: Llo.ali2ation: @ociall,- not $ust
"cono#icall,- Eenign
Chapter 3: Llo.ali2ation is Loo( .ut not Loo(
"nough
Chapter 4: Fon+Lo/ern#ental Organi2ations
Global Exc*an&e 8e%reserve9;
Ho% the International ;onetar, 4un( an( the Worl(
Ean3 In(er#ine De#ocrac, an( "ro(e Hu#an
5ights
5egionalis# an( Llo.ali2ation 83:
)hu 4e. 1
W""J
In+Class De.ate an( Discussion on Llo.ali2ation:
What is <ara#ount- an( What is ;issing in the
<u.lic De.ateM
)ue 4e. 22
W""J !
1rieden and 7a6e:
Chapter 11: K1 Fe% I#perial @,ste#?M )he 5ole of
;ultinational corporations 5econsi(ere(- ., Da/i(
4iel(house
4an )ederveen Pieterse 8e%reserve9:
)ren(s in De/elop#ent )heor,
Co*n:
Chapter 11' International De/elop#ent
1rieden and 7a6e:
Chapter : International In/est#ent an( Colonial
Control: 1 Fe% Interpretation- ., Jeffre, 1' 4rie(en
1rieden and 7a6e:
Chapter 25: International De/elop#ent: Is It
<ossi.leM ., Joseph "' @tiglit2 an( A,n @0uire
International (e/elop#ent
6
7
)hu 4e. 24
W""J !
1rieden and 7a6e:
Chapter 29: De/elop#ent: )he ;ar3et is Fot "nough-
., 5o.in Eroa(- John Ca/anagh- an( Wal(en Eello
1rieden and 7a6e:
Chapter 2: Llo.ali2ation an( Ine0ualit,- past an(
present- ., Jeffre, 1' Willia#son
DeSoto:
Chapter 1: )he 4i/e ;,steries of Capital
Chapter 5: )he ;issing Aessons of I@ Histor,
Chapter : E, Wa, of Conclusion
De/elop#ent an( transition 81:
)ue ;ar 1
W""J G
Deves* :apur 8e%reserve9:
Do 1s I @a, Fot 1s I Do: 1 Criti0ue of L+ <roposals
on 5efor#ing the ;ultilateral De/elop#ent Ean3s
4err"rey 1rieden 8e%reserve9:
Capital <olitics: Cre(itors an( the International
<olitical "cono#,
1rieden and 7a6e:
Chapter 2!: Inflation an( @ta.ili2ation- ., @tephan
Haggar(
De/elop#ent an( transition 82:
)hu ;ar 3
W""J G
Co*n:
Chapter 12' Current )ren(s in the Llo.al <olitical
"cono#,
/artin S*aw 8e%reserve9:
Historical @ociolog, an( Llo.al )ransfor#ation
)ue ;ar !
W""J 10
5e/ie% Paper Due
8