During the course of the twentieth century we witnessed the gradual development of a global economy. With the increasing complexity of international monetary and trade arrangements there have been extensive efforts to attempt to achieve international management. These efforts have been politically charged and are best understood in a political economy framework. From time to time certain states have dominated the agenda. However, international institutions and non-state actors have increasingly played a part. For developing states an additional concern has been the need to modernise and develop their economies.

This module will introduce you to the sub-field of global political economy and will cover the main concerns and debates involved. The module will trace the development of the global economy during the twentieth century noting the rise to hegemony of the United States and the establishment and operation of key international economic institutions. We will focus on the efforts to achieve and maintain an international monetary order in the face of massively increasing cross border flows of money. We will examine the politics of trade and its transformation in the context of rising foreign direct investment and the globalisation of production. We will examine the concerns of developing countries in the face of concentrations of economic and political power in the North. In particular we will examine the causes and impact of the debt crisis which unfolded from the early 1980s. The module will conclude with an analysis of the contemporary characteristics of the global political economy in terms of new theories of hegemony.

The main focus will be on self-instruction, within a tightly structured framework and relying largely (but not exclusively) on materials supplied. Week by week you will work through self-instructional course material (delivered via Blackboard), which provides the framework and focus for reading key texts and papers and undertaking the specific tasks set. His work will be undertaken on an individual basis, but at various points you will be expected to interact and share material with other students in your learning group and your tutor (24 hours). The module will run over 16 weeks including 4 weeks to complete assessments.

A computer for accessing Blackboard, websites and electronic journals.
Course texts and course learning pack.

The first essay will require you to apply conceptual and theoretical insight to historical or contemporary material specific to the course. [Learning Outcomes 1,3]

The second essay will require you to show your overall appreciation of the concerns of the module. It will enable you to demonstrate your comprehensive understanding of the module and your flexibility in applying your knowledge to specific concerns. [Learning Outcomes 1,2,3,4]

1 X 1000 word critical review (20%). The Critical Review will require you to read, review and analyze an academic journal article or chapter.

The participation grade ensures you get credit for the work you do on the weekly discussion board. The more you engage, the higher your participation grade will be [meets learning outcomes 1,2,3]

Ravenhill, J. (ed) Global Political Economy, 5th Edition (Oxford, Oxford UP) 2016

O'Brien, R., and M. Williams (2016) Global Political Economy: Evolution and Dynamics, 5th Edition (Basingstoke, Palgrave).

Schwartz (2019), States Versus Markets, 4th edition, (Basingstoke, Palgrave).