Fall 2024 | Columbia University
This upper-level undergraduate course examines the intersection of international politics and international economics. It covers an analysis of the historical background to and contemporary reality of the political economy of international trade, finance, and investment; problems of economic development; and globalization. This class does not have a specific economics or political science prerequisite, but it does assume a general understanding of historical and contemporary political and economic events. As a 3000-level course, this class would not be an appropriate choice for students who have not already taken introductory courses in political science, such as in international relations or comparative politics. This course would be appropriate for economics-political science joint majors
General
Readings
All readings on this list are required. Almost all are contained in the following books, which are available for purchase at the Columbia University Bookstore:
Jeffry Frieden, David Lake, and Lawrence Broz, Editors, International Political Economy: Perspectives on Global Power and Wealth, Sixth Edition (New York: W. W. Norton, 2017).
Thomas Oatley, International Political Economy, Seventh Edition (New York: Routledge, 2023).
The following book may be useful:
John Black, Nigar Hashimzade, and Gareth Myles, Oxford Dictionary of Economics, Fifth Edition (Oxford: Oxford University Press, 2017)
September 4: Introduction: Markets and Politics
Oatley, Thomas, International Political Economy, Ch. 1
Frieden, Lake, and Broz, International Political Economy, “Introduction: International Politics and International Economics,” pp. 1–17
Jeffry Frieden, “The Political Economy of Economic Policy,” Finance and Development, Summer 2020
September 9 and 11: The Rise of the Modern World Economy, 1500–1914
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 77-112:
Frieden, Lake, and Broz, “Historical Perspectives,” pp. 77–80
Cheryl Schonhardt-Bailey, “Free Trade: The Repeal of the Corn Laws,” pp. 81–91
Peter Gourevitch, “International Trade, Domestic Coalitions, and Liberty: Comparative Responses to the Crisis of 1873–1896,” pp. 92–112
Jeffry Frieden, “The Modern Capitalist World Economy: A Historical Overview,” in Oxford Handbook of Capitalism, ed. Dennis Mueller (New York: Oxford University Press, 2012)
September 16, 18, and 23: Perspectives on the International Political Economy
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 18-76 and 449-458:
Frieden, Lake, and Broz, “Contending Perspectives,” pp. 18–19
Ron Rogowski, “Commerce and Coalitions: How Trade Affects Domestic Political Alignments,” pp. 20–29
Jeffry Frieden, “The Political Economy of Adjustment and Rebalancing,” pp. 30–42
Stephen Krasner, “State Power and the Structure of International Trade,” pp. 43–61
Christina Davis, “International Institutions and Issue Linkage: Building Support for Agricultural Trade Liberalization,” pp. 62–76
Kenneth Sokoloff and Stanley Engerman, “History Lessons: Institutions, Factor Endowments, and Paths of Development in the New World,” pp. 449–458
September 25: Origins and Overview of the Contemporary International Economic Order
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 113-139:
Daron Acemoglu, “Root Causes: A Historical Approach to Assessing the Role of Institutions in Economic Development,” pp. 113–118
Michael Bailey, Judith Goldstein, and Barry Weingast, “The Institutional Roots of American Trade Policy,” pp. 119–139
Jeffry Frieden, “The Political Economy of the Bretton Woods Agreements,” in The Bretton Woods Agreements, ed. Naomi Lamoreaux and Ian Shapiro (New Haven: Yale University Press, 2019)
September 30, October 2 and 7: International Trade and its Effects
Oatley, Thomas International Political Economy, Chs. 2–5
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 282-296 and 315-356:
Frieden, Lake, and Broz, “Trade,” in International Political Economy: Perspectives on Global Power and Wealth, pp. 282–285
Barry Eichengreen, “The Political Economy of the Smoot-Hawley Tariff,” pp. 286–296
Andy Baker, “Who Wants to Globalize? Consumer Tastes and Labor Markets in a Theory of Trade Policy Beliefs,” pp. 315–327
Paola Conconi, Giovanni Facchini, and Maurizio Zanardi, “Policymakers’ Horizon and Trade Reforms: The Protectionist Effect of Elections,” pp. 328–338
Richard Baldwin, “The World Trade Organization and the Future of Multilateralism,” pp. 339–356
October 9: International Trade and the Developing Countries
Oatley, Thomas International Political Economy, Chs. 6 and 7
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 297-314
Raymond Hicks, Helen Milner, and Dustin Tingley, “Trade Policy, Economic Interests, and Party Politics in a Developing Country: The Political Economy of CAFTA-DR,” pp. 297–314
October 14 and 16: International Financial and Monetary Relations
Oatley, Thomas International Political Economy, Chs. 10–13
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 206-220, and 232-281:
Frieden, Lake, and Broz, “Money and Finance,” in “International Political Economy: Perspectives on Global Power and Wealth” pp. 206–210
Joshua Aizenman, “The Impossible Trinity (aka The Policy Trilemma),” pp. 211–220
Menzie Chinn and Jeffry Frieden, “Borrowing, Boom, and Bust: The Capital Flow Cycle,” in “Lost decades : the making of America's debt crisis and the long recovery” pp. 232–251
Mark Copelovitch, Jeffry Frieden, and Stefanie Walter, “The Political Economy of the Euro Crisis,” pp. 252–266
Lawrence Broz, “Political System Transparency and Monetary Commitment Regimes,” pp. 267–281
Anshu Siripurapu and Noah Berman, “Cryptocurrencies, Digital Dollars, and the Future of Money,” Council on Foreign Relations Backgrounder, February 2023
October 21 and 23: International Finance and Development
Oatley, Thomas International Political Economy, Chs. 14 and 15
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 221-231:
Jeffry A. Frieden, “Globalization and Exchange Rate Policy,” pp. 221–231
October 30, November 6 and 11: Multinational Corporations and the Internationalization of Production
Oatley, Thomas International Political Economy, Chs. 8 and 9
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 140-205:
Frieden, Lake, and Broz, “Foreign Direct Investment,” in “International Political Economy: Perspectives on Global Power and Wealth” pp. 140–143
Richard Caves, “The Multinational Enterprise as an Economic Organization,” pp. 144–155
Sonal Pandya, “Labor Markets and Demand for Foreign Direct Investment,” pp. 156–166
Beth Simmons, “Bargaining over BITs, Arbitrating Awards: The Regime for Protection and Promotion of International Investment,” pp. 167–183
Quan Li and Adam Resnick, “Reversal of Fortunes: Democratic Institutions and Foreign Direct Investment Inflows to Developing Countries,” pp. 184–205
Nikki Harish and Michael Plouffe, “The Political Economy of Foreign Direct Investment to Developing Countries,” working paper
November 13: Immigration
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 357-412:
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. “Migration,” in “International Political Economy: Perspectives on Global Power and Wealth” pp. 357–358
Gary Freeman and Alan Kessler, “Political Economy and Migration Policy,” pp. 358–377
Margaret Peters, “Open Trade, Closed Borders: Immigration in the Era of Globalization,” pp. 378–393
Giovanni Facchini, Anna Maria Mayda, and Prachi Mishra, “Do Interest Groups Affect U.S. Immigration Policy?” pp. 394–412
November 18 and 20: Current Issues in Development
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 413-467:
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. “Economies in Development,” in International Political Economy: Perspectives on Global Power and Wealth, pp. 413–415
Branko Milanovic, “Global Income Inequality in Numbers: In History and Now,” pp. 416–427
Dani Rodrik, “The Past, Present, and Future of Economic Growth,” pp. 428–448
November 25: The International Political Economy of Climate Policy
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 461-488, 506-517
Jeffrey Frankel, “Globalization and the Environment,” pp. 461–488
Robert O. Keohane and David G. Victor, “Cooperation and Discord in Global Climate Policy,” pp. 506–517
William Nordhaus, “The Climate Club: How to Fix a Failing Global Effort,” Foreign Affairs 99 (2020)
December 2, 4, and 9: Current Problems in the International Political Economy
Oatley, Thomas International Political Economy, Ch. 16
Frieden, Jeffry A., David A. Lake, and J. Lawrence Broz. International Political Economy: Perspectives on Global Power and Wealth, pp. 459-460, 489-505, 518-566:
Jeffry Frieden, David Lake, and J. Lawrence Broz. “Current Problems in International Political Economy,” in “International Political Economy: Perspectives on Global Power and Wealth” pp. 459–460
Sean Ehrlich, “The Fair Trade Challenge to Embedded Liberalism,” pp. 489–505
Jeffry Frieden, “The Governance of International Finance,” pp. 518–534
Edward Mansfield and Diana Mutz, “US versus Them: Mass Attitudes toward Offshore Outsourcing,” pp. 535–563
Dani Rodrik, “Populism and the Economics of Globalization,” Journal of International Business Policy, vol. 1 (2018)
Stefanie Walter, “The Backlash against Globalization,” Annual Review of Political Science 24 (2021)