74638 - Globalization, States and Markets

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 Financial Crisis and its political and economic consequences in Europe and globally (4) Economic regionalism as answer to the challenges of globalization (5) The rise of populism and the crisis of the global economic order.

 

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

Lectures will be held online (via MS Teams), and the entire class will attend them at the same time (this is the lower part of the Y).

Each seminar will be held twice, in presence and on line. Each student will attend it once, either on line or in presence (upper part of the Y)

Seminars will be held in presence in Forlì with students that are willing and able to be present. Those who prefer it, or are not able to be present in Forlì can attend on line.

This choice (seminars in presence/seminars on line) should be communicated in advance to the instructor.

On the schedule, seminars in presence are Sna (S1a,S2a, S3a). Online seminars are Snb (S1b, S2b, S3b).

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 IOL page of the course.

Lectures online will resemble traditional frontal classes, even if they will be held in remote (This does not mean that active participation is not encouraged).

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, taking a positions. The class will be further divided in subgroups that will be invited to support different sides of an argument on specific issues and topics.

As a consequence, preparing the readings in advance will be essential for the active attendance of the seminars.

At the end of the course each student will attend 8 lectures on line, 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.

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

8 Lectures (remote) 16 hours, 6 Seminars (remote+ presence) 24 hours, Total 40 hours

 

Topics:

1. Understanding Globalization (L1)
2. The Economic Effects of Globalization (L2)
3. Globalization and International Politics (L3)
4. Globalization and Democracy (S1)
5. The Varieties of Capitalism Approach and the German Model (L4)
6. Coordinated Market Capitalism and globalization:The case of Italy (S2)
7. Coordinated Market Capitalism and the Developmental State in Japan and South Korea (L5)
8. State Capitalism in China (L6)
9. The Global Financial Crisis, Globalization and the US power (S3)
10. The Euro-crisis (L7)
11. The Euro-crisis: Debating alternatives (S4)
12. Liberal Regionalism (L8)
13. Belt and Road and Non-Liberal Regionalism (S5)
14. Trump, the global economic order, and the return of protectionism (S6)

Readings/Bibliography

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.

 

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 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 The EU and the Euro 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 Europe, the Euro and Globalization: Debating alternatives (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

 

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 Non Liberal Regionalism and the Belt and Road Initiative (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.)

De Maio, G. (2020) Playing With Fire: Italy, China, and Europe.Washington DC. Brookings Institution.

 

14 Trump, the global economic order, and the return of protectionism (S6)

Dian, M. and Baldaro, E. (2018). Trump’s Grand Strategy and the Post-American World Order Journal of Inter-disciplinary Studies4(1),

Cha, T. (2016). The return of Jacksonianism: The international implications of the Trump Phenomenon. The Washington Quarterly, 39(4), 83-97

G. John Ikenberry, “The End of the Liberal International Order?” International Affairs 94 (January 2018): 7-23.

Teaching methods

On Line Lectures (marked with L in the schedule), on MS Teams

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

On line Seminars (marked with Snb, as S1b, S2b, S3b)

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