Econ460 Economics of Globalization

Economics of globalization focuses on the determinants of the new wave of globalization, and attempts to investigate its economic, social, political and historical conditions as a new stage of capitalism.  We regard the socio-economic machine being in motion in all its giant complexity with many interrelated markets and different agents, classes, and institutions. We study the current debates on de-industrialization, middle income trap, economics of climate change and the impact of artificial intelligence on the global labor markets. We also investigate changing ideas of national sovereignty and how these ideas have been shaped by concepts such as IMF and World Bank conditionality which emphasize fiscal austerity as well as by the neoliberal policy norms such as central bank independence, inflation targeting, freely floating exchange rates, flexible labor markets, and the “credible” state. Finally we focus on the concept of “economic development” and regard it as a unique phase of the twentieth century capitalism.  Classic theories of development will also be studied with references to the structuralists, Marxists, the Dependency school, and the world-systems paradigms.