74638 - Globalization, States and Markets

Academic Year 2021/2022

  • Docente: Matteo Dian
  • Credits: 8
  • SSD: SPS/04
  • Language: English
  • Teaching Mode: Traditional lectures
  • Campus: Forli
  • Corso: Second cycle degree programme (LM) in Interdisciplinary research and studies on Eastern Europe (cod. 8049)

    Also valid for Second cycle degree programme (LM) in International Politics and Economics (cod. 5702)

Learning outcomes

The course explores changes in the international economy and their effects on domestic politics and economics. At the end of the course, students will be able to analyze issues such as: - Is globalization really a new phenomenon? - Is it irreversible? - What are the effects on wages, inequality, social safety nets, production, innovation and competition? - How does globalization affect democracy? - Are markets beyond the control of political institutions?

Course contents

This course surveys and discusses the political and economic effects of globalization both at the international and the national level, in Europe and in other key extra European contexts (such as the US, and East Asia).

The course is structured around five main sections: (1) globalization and its economic and political consequences (2) the impact of economic globalization on national varieties of capitalism, development models and domestic politics (3) the three Great Crises of the last decades (Global Financial Crisis, the Euro-Crisis and the Global Pandemic) and their political and economic consequences (4) Economic regionalism as answer to the challenges of globalization (5) The future of the international order.


Instructions for the course.

The course will follow the Y structure. This means that classes will be divided in Lectures and Seminars.

Lectures: the entire class will attend at the same time. Lectures are identified with an L (L1, L2, L3). Lectures will be held in blended form (in presence and on MS Teams for those students that are not able to be present in Forlì). This is the lower pat of the Y.

Each seminar will be held twice. Each student will attend it once (upper part of the Y). They are identified with a S (S1a, S1b, S2a, S2b).

The A group will be formed by the first half of the class in alphabetical order. The B part of the group by the second half and those students that will attend classes on line. Seminars of the A group will be held in presence. Seminars of the B group will be held in blended modality (with students in presence in the classroom and students connected via MS Teams).

The choice between seminars in presence/seminars on line should be communicated in advance to the instructor.

Both for Lectures and for Seminars students are required to read the materials in advance. You can find the readings and the other materials on the Virtuale page of the course.

Lectures will resemble traditional frontal classes, even if questions and comments are more than welcome.

Seminars will be different from traditional classes. They will be based on active participation and debates among students. Students will be invited to discuss different ideas and arguments, often taking a positions.

Consequently, preparing the readings in advance will be essential for the active attendance of the seminars.

By the end of the course each student will attend 8 lectures and 6 seminars.

For each student, the total amount of hours is 28 hours. Since this amount is lower than the amount generally associated with an exam of 8CFU, the course requires a slightly higher number of pages to read and an active participation during the seminars.

The evaluation will consist in 40% of the grade: active participation to seminars. 60% of the grade final oral exam.

L1 Understanding Globalization

L2 The Economic Effects of Globalization

L3 Globalization and International Politics

S1 Globalization and Democracy

L4 The Varieties of Capitalism Approach and the German Model

S2 Coordinated Market Capitalism and globalization: The case of Italy

L5 Coordinated Market Capitalism and the legacy of the Developmental State in Japan and South Korea

L6 State Capitalism in China

S3 The Global Financial Crisis, Globalization, and the US power

L7 Europe in the Age of Multiple Crises.

S4 A third great transformation? From austerity to the return of the state

L8 Liberal Regionalism

S5 The Belt and Road Initiative and Non-Liberal Alternatives

S6 Trump’s legacy and the role of the US in the global economic order


The readings will be available on the Virtuale page of the course


1 Understanding Globalization (L1)

Yueh, L. (2018). What Would the Great Economists Do?: How Twelve Brilliant Minds Would Solve Today's Biggest Problems. Picador. (Keynes, Hayek, North, selected parts)


2 The Economic Effects of Globalization (L2)

Milanovic, B. (2016). Global inequality: A new approach for the age of globalization. Harvard University Press.

Ortiz Ospina, E. Beltekian, D. and Roser, M. (2018) Trade and Globalization. https://ourworldindata.org/trade-and-globalization


3 Globalization and International Politics (L3)

Colin Hay (2015) International Relations Theory and Globalization. In Tim Dunne (ed), International Relations Theory. Discipline and Diversity Oxford University Press.

Kotkin, S. (2018). Realist World: The Players Change, but the Game Remains. Foreign Affairs, 97, 10.

Varghese, R. (2018). Marxist World: What did you expect from capitalism. Foreign Affairs, 97, 34.

Deudney, D., & Ikenberry, G. J. (2018). Liberal world: The resilient order. Foreign Affairs., 97, 16.


4 Globalization and Democracy (S1)

Rodrik, D. (2011). The globalization paradox: democracy and the future of the world economy. WW Norton & Company (ch. 9).

Norris, P., & Inglehart, R. (2016). Trump, Brexit, and the rise of populism: Economic have-nots and cultural backlash. Harvard JFK School of Government Faculty Working Papers Series.

Blyth, M. (2016, November 15) Global Trumpism Why Trump’s Victory Was 30 Years in the Making and Why It Won’t Stop Here. Foreign Affairs. (1-4)


5 The Varieties of Capitalism Approach and the German model (L4)

Hall, P. and Soskice, D. (2001) Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. Oxford University Press. Cap 1.

Hall, P. (2015). The Fate of the German Model In Brigitte Unger, ed. The German Model Seen by its Neighbors. Brussels: Social Europe.

Storm, S., & Naastepad, C. W. M. (2015). Crisis and recovery in the German economy: The real lessons. Structural Change and Economic Dynamics, 32, 11-24.


6 Coordinated Market Capitalism and globalization: The case of Italy (S2)

Simoni, M. (2019) Institutional Roots of Economic Decline: Lessons from Italy LEQS Paper No. 143/2019

Bull, M. (2018) In the Eye of the Storm: The Italian Economy and the Eurozone Crisis, South European Society and Politics, 23:1, 13-28

Toniolo, G. (Ed.). (2013). The Oxford handbook of the Italian economy since unification. Oxford University Press (selected parts)


7 Coordinated Market Capitalism and the legacy of the Developmental State: Japan and South Korea (L5)

Cai, K. (2016). The political economy of East Asia: regional and national dimensions. Palgrave MacMillan. Ch. 4

Cai, K. (2016). The political economy of East Asia: regional and national dimensions. Palgrave MacMillan. Ch. 5

Shibata, S. (2017, July). Re-packaging old policies? ‘Abenomics’ and the lack of an alternative growth model for Japan's political economy. Japan Forum 29 (3): 399-422.


8 State Capitalism in China (L6)

Eaton, S. (2014). The gradual encroachment of an idea: large enterprise groups in China. The Copenhagen Journal of Asian Studies, 31(2), 5-22.

Breslin, S. and Wang, Z. (2016). Governing the Chinese Market. Paper presented at the 2016 annual conference of the International Studies Association. Atlanta


9 The Global Financial Crisis, Globalization and the US power (S3)

Ramskogler, P. (2015). Tracing the origins of the financial crisis. OECD Journal: Financial Market Trends, 2014(2), 47-61.

Kirshner, J. (2014). American power after the financial crisis. Cornell University Press. (Ch. 1)

Drezner, D. W. (2014). The system worked: How the world stopped another great depression. Oxford University Press. (Conclusion).


10 Europe in the age of multiple crises (L7)

Bordo, M. and James, H. (2013) The European Crisis In The Context Of The History Of Previous Financial Crises NBER working paper 19112

Haas, J. and Gnath, K. (2016). The Euro Area Crisis. A short history. Jacque Delor Institute. Berlin.

Jones, E. (2020) The minds behind Germany’s shifting fiscal stance. Financial Times.


11 A third great transformation? From austerity to the return of the state (S4)

Blyth, M. (2013). “The Austerity Delusion. Why a Bad Idea won the West” Foreign Affairs. May June 92(3), pp. 41-56.

Alesina, A., Favero, C., & Giavazzi, F. (2019). Austerity: When it Works and when it Doesn't. Princeton University Press. Introduction

Gerbaudo, F. (2021) Big Government is Back. Forreign Policy.

Draghi, M (2020) We face a war against coronavirus and must mobilise accordingly. Financial Tmes.


12 Liberal Regionalism and Globalization (L8)

Congressional Research Service (2016). The Trans-Pacific Partnership (TPP): Key Provisions and Issues for Congress (selected parts).

Congressional Research Service (2019) The WTO (overview, short)

Bown , C.P. (2016) Mega-Regional Trade Agreements and the Future of the WTO. Discussion Paper Series on Global and Regional Governance. Council on Foreign Relations.


13 The Belt and Road Initiative and Non liberal alternatives (S5)

Rolland, N. (2017). China's “Belt and Road Initiative”: Underwhelming or game-changer?. The Washington Quarterly, 40(1), 127-142.

Dian, M , Menegazzi, S. (2018) New Regional Initiatives in China’s Foreign Policy. Palgrave MacMillan. (ch4 Belt and Road.)

Dossi, S. (2020) Dossi, S. (2020). Italy-China relations and the Belt and Road Initiative. The need for a long-term vision. Italian Political Science.


14 Trump’s legacy and the role of the US in the global economic order(S6)

Dian, M. and Baldaro, E. (2018). Trump’s Grand Strategy and the Post-American World Order Journal of Inter-disciplinary Studies 4(1).

Colgan, J.D. (2019) Three Visions of International Order, The Washington Quarterly, 42:2, 85-98.

Hass, R. and Denmark A. (2020) More pain than gain: How the US-China trade war hurt America. Brookings Institution.

Ferchen, M. (2021) Towards 'Extreme Competition': Mapping the contours of US-China relations under the Biden administration. Berlin, Merics


Teaching methods

Blended Lectures (marked with L in the schedule), in presence and on MS Teams

In presence Seminars (marked with Sna, as S1a, S2a, S3a)

Blended Seminars (marked with Snb, as S1b, S2b, S3b), in presence and on MS Teams.

Assessment methods

The evaluation will consist in 40% of the grade: active participation to seminars. 60% of the grade final oral exam.

Teaching tools

MS Teams, power point, videos

Office hours

See the website of Matteo Dian


No poverty Reduced inequalities Peace, justice and strong institutions

This teaching activity contributes to the achievement of the Sustainable Development Goals of the UN 2030 Agenda.