Corso Università di Padova

LM52 – IPD

The Global Economy in Historical Perspective

[45 hours – 6 credits]

 Prof. Ruggero Ranieri

A.Y. 2011 – 2012

 

Class schedule

 Wednesday: 15:30-17:30 (aula 3 via Cesarotti)

Thursday: 15:30-18:30 (aula 3 via Cesarotti

Friday: 8.30-10.30 (aula 3 via Cesarotti)

Office hours:
Contact the Teacher at:  roger.ranieri@tiscali.it

Reception during the period of the course is Wednesday from 17:30 to 18:30.

More information about the course at: www.ruggeroranieri.it


Program:

The course evaluates current debates about the nature, significance and trends toward ‘globalization’ in the light of its historical antecedents. It aims to provide an historical survey of the process of globalization since the 19th century, through the first liberal era (1880-1914), the disintegration of the world economy (1914-1939), its reconstruction within the Cold War and Bretton Woods system (1945-1973), the collapse of Bretton Woods and the acceleration towards a global free market. It analyzes the world economy looking at technical change, business organization (especially the emergence of multinational corporations), finance. Among the topics are: trade, capital markets and international financial crises, the emergence of regional blocs, such as the European Union, the role of the Euro in the world economy, the economic rise of Asia and China. The arguments for and against globalization will be considered, as well as the lessons of history about its costs and benefits.

 Textbooks  for the course:

 Frieden J.E, Global Capitalism. Its Fall and Rise in the Twentieth Century, New York, Norton, 2006;

Gilpin, R. The Challenge  of Global Capitalism. The World Economy in the 21st Century, Princeton: Princeton U.P., 2002.

Expected results 

By the end of this course you should be able: to understand the background, nature and significance of the emergence of the global economy in the late 20th century; how globalization has affected trade, finance, the structure and performance of corporations and the development of the main economic areas of the world (the EU, the Asian economic miracle). You should be able to understand the arguments both in favor and against globalization, and be able to discuss them in a critical and unbiased way.  The course will allow you to acquire analytical and interdisciplinary skills bridging economic history, international economics and international politics.  It is intended to enhance your capacity in oral presentation, both individual and in small groups, and essay writing.

Assessment methods 

Students are supposed to present one short research essay (approx. 5000 words) on a topic related to the course, which will form 50% of the final assessment, while the other half will consist of an oral exam discussing both the essay as well as key topics developed in the course.

Students who give the exam without attending the course are also required to present a final essay (agreed with the teacher), and an oral examination on the text-book.

 

 Teaching support

Power point lectures and presentations.

 

Week 1:

Introduction and the Early Rise of the Global Liberal Economy (1880-1914)

Wed 2 May 

Thur 3 May 

Fri 4 May

Readings:

FRIEDEN J.E., Global Capitalism. Its Fall and Rise in the Twentieth Century,(…), chaps. 1, 2, 3, 5.  

lecture 1-introduction

lecture 2 – liberal global economy I

 

 

Week 2 :

The Fall of the Global Liberal Economy (1914-1939); 

Wed 9 May 

Thur 10 May

Readings:

FRIEDEN J.E., Global Capitalism. Its Fall and Rise in the Twentieth Century,(…), chaps. 6, 7,8,9.

1914-1939

The Bretton Woods Era (1945-1971) 

Fri 11May

 Readings:

FRIEDEN J.E., Global Capitalism. Its Fall and Rise in the Twentieth Century, (…), chaps. 11, 12.

1945-1970

Week 3: 

The End of Bretton Woods (1971-1980)

Wed 16 May  

Thur 17 May 

Fri 18 May

 

Readings:

FRIEDEN J.E., Global Capitalism. Its Fall and Rise in the Twentieth Century, (…), chaps. 13,14,15,16

1971-1980

Workshop in economic terms

 

 

 Week 4

Corporations in the Global Economy  and Global Trade

Wed 23 May  

Readings:

JONES G., Multinationals and Global Capitalism from the nineteenth to the Twenty-first century, (…), chap. 1.

GILPIN R., The Challenge of Global Capitalism, The World Economy in the 21st Century, (…), chap. 3, 6.

Stiglitz, J. E., Making Globalization Work,  chap. 3 

RODRIK, D., Globalization Paradox (…), chap 4. 

trade and mncs

 

 Week 5:

Global Finance and Financial Crises in the World Economy

Wed 30 May  

Thur 31 May  

Fri 1 June

Readings:

GILPIN R., The Challenge of Global Capitalism, The World Economy in the 21st Century, (…) chaps. 4 and 5.

Krugman P., The Return of Depression Economics and the Crisis of 2008, (…), chaps 3-9.

Stiglitz, J., Globalisation and its discontents, (…) chap. 4.

RODRIK, D., Globalization Paradox (…), chaps 5, 6. 

ECKES A. E., The Contemporary Global Economy (…), chaps 8, 9.

Wolf, Martin, “How mistaken ideas helped to bring the economy down”, Financial Times, October 28, 2009. 

 5-Finance and crises

Week 6:

The EU and the EURO: the crisis of sovereign debt

Wed 6 June 

Thur 7 June  

Fri 8 June

Readings:

GILPIN R., The Challenge of Global Capitalism, The World Economy in the 21st Century, (…), chap. 7.

NEAL L., The Economics of Europe and the European Union, (…), chaps. 5 and 6.

ISSING O., The Birth of the Euro (…) chaps. 2, 4, 5.

MARSH D.,The Euro. The Politics of the New Global Currency, (…) chaps. 7,8.

Marsh, David “The Euro’s lost promise”, International Herald Tribune, The Global Edition of New York Times, May 19, 2010.

Krugman, Paul, “The triumph and tragedy of the euro”, International Herald Tribune, January 14, 2011.

1) The European Union and the single currency, history

2) the Euro, Europe

Week 7:

The Asian Economic Miracle  and the Rise of the Chinese Economy

Thur 14 June 

Fri 15 June

Readings:

FRIEDEN J.E., Global Capitalism. Its Fall and Rise in the Twentieth Century, chap. 18. 

GILPIN R., The Challenge of Global Capitalism, The World Economy in the 21st Century, (…) chap. 9.

SMITH, D., The Dragon and the Elephant, China, India and the New World Order, (…), chap. 4.

FRIEDEN J.E., Global Capitalism. Its Fall and Rise in the Twentieth Century, (…) chap. 20.

 Asia I

Asia II

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