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Unformatted text preview: The Global Economy and World Politics
Professor Edward Weisband Lecture 1: Introduction to the Study of International Political Economy: The Scales, Scapes, and Mechanisms of Economic Governance What is the Study of Political Economy? The study of political economy examines economic Values Choices Conditions By focusing on the sources and distributions of: Wealth Property Income It examines how economic values, choices, and conditions are made and how these choices reflect political Structures Institutions Power Cooperation Political Economy in Divergent Perspectives The study of political economy reverses its analytical perspectives How? By examining how political power, institutions, and dynamics influence and alter the structures of economic values, choices, and conditions And how economic values, choices, and conditions reveal political power, institutions, and dynamics Economic Exchanges, Values, Choices, and Conditions Political Economy Political Dynamics, Processes, Structures, and Institutions Political Economy in Convergent Perspectives: Economic Governance The entire study of political economy converges on one question: what is economic governance? A series of secondary questions fall from this: How does economic governance occur? Why is it required? What are its major mechanisms and structures? What are its processes and dynamics? What are its impacts? The Question of Political Values in Economic Governance Finally, by what standards do we assess its dynamics, institutions, and outcomes? Economic freedom Social fairness and distributive justice Cultural integrity Intergenerational ecological and developmental sustainability Mechanisms of Economic Governance in Political Economy
Markets Governments Hegemony Firms Networks Political Economy Coordinating Forums (G8, G20, G20+) Social Movements Organizations Institutions Civil Society Organizations The Predicaments of Economic Governance & Scapes of Political Economy SubNational: within national economies National: national economies taken as a whole International: between national economies Transnational: across and within national economies World: economic structures and dynamics taken as a whole Global: structures and dynamics that have impact or consequence for the earth as a planetary sphere The Scapes of Economic Governance Scape: defined by the geographical boundaries of political economic governance Each scape involves Economic exchanges, choices, values, and conditions That requires a set of governance mechanisms and processes Scapes in the world economy overlap Key: Economic activities at, within, and across all scapes generate demand for economic governance for reasons that become essential to an understanding of political economy Scapes & Three "ization" Processes Scapes represent spatial or topological configurations around which the dynamics of political economy occur As economic exchanges and activities occur within and across the scapes from subnational to global the requirements of economic governance intensify These dynamics become organized around processes of economic governance represented in the English language by the suffix: "ization" Liberalization Globalization Regionalization Course Expectations: Readings Syllabus available on the course website (www.psci.vt.edu/weisband/) Weekly reading assignments Four Required Texts Frieden: Global Capitalism Irwin: Free Trade Under Fire, 2nd Edition Rivoli: Travels of a TShirt in the Global Economy Lindblom: The Market System Meredith: The Elephant and the Dragon Supplemental Readings Please check the syllabus on the course website for supplemental readings Course Expectations: Lectures and Recitation Sections Required attendance in lectures on Mondays and Wednesdays Unannounced "pop" quizzes constitute 10% of Final Grade Required attendance and participation in weekly recitation sections Fridays at 10:10, 11:15, or 12:20 You must attend the recitation that is displayed on your course schedule 12 Weekly Inquiries Due in Recitation Sections Each student will submit one original question that links the assigned readings to the lecture materials and its answer (24 sentences) Attendance, Participation, and Weekly Inquiries together comprise 15% of Final Grade Course Expectations: Essay Assignments Two "TakeHome" Essay Assignments Liberalization Due Wednesday, February 27th in lecture 35% of Final Grade Globalization, Regionalization, and Hegemony Due Wednesday, April 30th in Final Lecture 40% of Final Grade NO EXAMS or FINAL EXAM ...
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This note was uploaded on 03/30/2008 for the course PSCI 2064 taught by Professor Eweisband during the Spring '08 term at Virginia Tech.
- Spring '08
- Political Economy