International Political Economy
I. Basic Terminology:
Be able to incorporate as many of of the following basic political economic terms as possible into each of the two essays of choice from the second category. Class lecture notes may be used for defining the listed terms as well as the Charles Wheelan textutal readings.
Do be certain to incorporate other useful data from lectures notes, the Wheelan text, and various suggested scholarly IPE books and articles as well.
- David Ricardo, "Comparative Advantage," "The Iron Law of Wages," and "Theory of Rents."
- Anne-Robert Turgot and Jean-Baptiste Say
- Physiocrats
- Charles Fourier and Count Sainte-Simon
- Utilitarianism
- Karl Marx
- William Stanley Jevons and Leon Walras
- Historical Economics and the Marshallian School
- East Asian Model of Developement
- Export Oriented Strategy
- Rent Seeking
- Structural Adjustment Programme
- Efficiency Oriented Investment
- Foreign Direct Investment
- Horizontal Integration
- Intangible Asset
- Locational Advantages
- Market Oriented Investment
- Natural Resource Investment
- Positive Externalities
- Specific Asset
- Vertical Integration
- Calvo Doctrine
- Export Processing Zone
- Locational Incentives
- Multilateral Agreement on Investment
- Obsolescing Bargain Performance Requirement
- Trade Related Investment Measures
- United Nations on Permanent Sovereignty over Natural Resources
- Balance of Payments and Balance of Payments Adjustment
- Bretton Woods System
- Capital Account
- Conditionality
- Current Account
- Exchange Rate System and Exchange Restrictions
- Fixed Exchange Rate System and Fixed but Adjustable Exchange Rate System
- Floating Exchange Rate System
- Foreign Exchange Market
- Foreign Exchange Reserves
- Fundamental Disequilibrium
- Managed Float
- Speculative Attacks
- Stabilization Fund
- European Monetary System
- International Investment Position
- Louvre Accord, Monetary Accord, and Plaza Accord
- Target Zone
- Phillips Curve
II. Essay Topics:
Answer any two of the following essays with each response tallying 5 to 8 pages.
1. Who was David Ricardo? Illustrate and explain his economic theories? Were they accurate? Might they be useful in the present?
2. In what ways did the French Enlightenment era help create the study of modern economics? Illustrate and explain all key figures and their philosophies. Are they influences found still in the modern global economy? If so, in which ways?
3. Who was Jean Baptiste Say? Why is he important in IPE? Explain.
4. Who were Charles Fourier and Count Saint-Simon? What economic philosophies did they create? Are their views prevalent, still?
5. Who was Karl Marx? What was his economic philosophy? How and why has his economic philosophy been so widespread as well as controversial? Explain.
6. What is Import Substitution Industrialisation? What are its's problems? Explain.
7. What is the East Asian Model? Should the West imitate it? What are its's strength and weaknesses?
8. What kind of economic reform is occuring in China? Is it both good and bad for China as well as the global economy?
9. What are the global community's criticisms about the WTO's treatment of developing countries? Are their complaints valid?
10. What are Multinational Corporations? Explain their evolution by illustrating examples of the first to evolve slowly thousands of years ago as well as the first global businesses to appear in the modern age. How are these kinds of businesses influencing the modern world economy in a positive or negative way? Should MNC's be regulated by the international community. Defend your point.
11. What is the International Monetary System? What are its' problems? How can payments imbalances become remedied?
12. What is the Bretton Woods System? Who created it, when, and why? Is it still used in the present? What were its' strengths and weaknesses?
13. What International Monetary System conflicts have occured since the 1970's? Have the international powers involved solved these problems?
14. How has the European Union cooperated in global currency exchange rates? Have they been better team players than America?
15. Why are some people as well as nations righer than others? Wheelan source to be used as a source.
16. What can financial markets indicate about becoming wealthy very quickly. Wheelan source to be refrenced as well.
17. What does economics indicate about politics and vice versa? What are special interest groups?(Wheelan data necessary).
18. What indicators are necessary to determine a successful and thriving economy? What factors cause economies to surpass others yet eventually decline? Does a powerful economy always indicate a prosperous society for most everyone?(Wheelan data to be used as well).
19. What is the Federal Reserve? Is it a force of good, bad or both? (Wheelan material to be consluted as well).