“GLOBAL ECONOMY
1. Discuss the impacts of the global recession in processes of economic globalization regionalization internationalization and neoliberalism in the World Economy .
There is debate on to what extent as a consequence of the recession the World economy is becoming more or less globalized or regionalised more or less
internationalized and more or less neoliberal. The essay should use theory and evidence to evaluate both sides in the debate. The discussion should draw on the views
of radicals sceptics and pragmatics regarding to what extent the economy was globalized before the recessions that started in 2008 and then explore whether or not
the recession is likely to have changed economic trends. You need to focus on economic globalisation as a new phenomenon different from internationalization
westernization neo-liberalism or cultural convergence.
Key authors: HIRST & THOMPSON SCHOLTE (BOTH IN THE READING PACKAGE.) OHMAE DICKEN
2. Discuss the impacts of Globalization Neoliberalism and Internationalization in Global Sustainable Development.
This is an essay about the positive and negative impacts of globalization internationalization and neoliberalism on the economic social and environmental dimensions
of sustainable development. You need to be analytical with your readings and differentiate impacts of globalisation from impacts of internationalization
westernization neo-liberalism or cultural convergence.
Key authors: Lloyd: What now? ( workshop 2) SCHOLTE (BOTH IN THE READING PACKAGE.) DICKEN (chapters about winners and losers) STIGLITZ
Stiglitz J ( 2002) Globalization and its Discontents London: Penguin (chapters about the way forward )
Stiglitz J ( 2007) Making Globalization Work: The Next Steps to Global Justice London: Penguin 2007 ( also see Stiglitz 2012 The age of Inequality)
3. Bretton Wood institutions have been fiercely criticised in the last two decades. Discus a) what criticisms have not been addressed and b) to what extent there is
still a need for Bretton Wood Institutions.
The answer to this question requires:
A discussion of each BW institution ( WB IMF WTO). Identification of criticisms and to what extent the criticisms have been addressed by the institutions. The essay
should also evaluate to what extent we need the WTO/WB/IMF. If any or all three are needed then the essay should focus on the identification of aspects that still
need to be reformed explaining why and how. This is an essay requiring evidence of a range of readings for and against Bretton Woods institutions. For the evaluation
of WTO you need to acknowledge the debate around TRIPS ( see reading for workshop 8: Legrain G. ( 2004) Patently Wrong: How Global Patent Laws Harm the Poor and the
Sick Chapter 10 in Legrain ( 2004) Open World pp. 254269
Key authors: Rich & Lateef (READINGS FOR WORKSHOP 3). Legrain (workshop 8) Stigliz and Peet.
Stiglitz J ( 2002) Globalization and its Discontents London: Penguin (chapters about the way forward in Globalization and its discontents)
Stiglitz J ( 2007) Making Globalization Work: The Next Steps to Global Justice London: Penguin 2007
Peet The Geography of Power: the making of global economic policy ( Oxford University Press 2008) ( One chapter included in the reading package for WS3)
Or
R. Peet Unholy Trinity The IMF World Bank and WTO (London: Zed Books 2003)
4. Discuss to what extent the roles of the State identified by Dicken are more or less relevant in the new Green Growth Global Economy. Will Multinationals be
more or less powerful in the Green Growth Economy?
This discussion requires understanding of debates about the roles of the state in the Global Economy and the comparative power of States vs Multinational Corporations.
You need to apply such understanding to analyse how they will be changed (or not) if there is worldwide dissemination of Green Growth ( or Green Economy) policies.
Key Authors: Dicken (you must show knowledge of his views about roles of the state; Hirst & Thompson (see for instance reading package 1 Globalization Governance and
the Nation State) Noreen Hertz Legrain ( workshop 7)
5. Compare and contrast policies factors influencing success and outcomes achieved by the following Asian Miracle countries: Singapore Korea Malaysia
Indonesia Myanmar and Cambodia.
This discussion should try to identify common factors and differences between groups of countries. Key readings: The World Bank The East Asian Miracle (workshop
reading). Also Hirst & Thompson: The developing Economies and Globalization; Dicken: State Economic PoliciesChapter 6 and Stiglitz: The East Asian Crisis in
Globalization and its discontents (all in Course Reading 3) Warning: although these readings describe a range of factors and policies influencing the East Asian
Miracle in the first 4 countries you need to identify additional readings to analyse Myanmar
6. Discuss the role of economic globalization in the East-Asian crisis Argentinean Crisis Russian Crisis Sub-prime Crisis and Greek crises.
This answer requires awareness of different perspectives regarding the causes of economic crises and the role of globalization. You need to focus on the
identification of commonalities and differences between crises. Comparative charts will be useful
Key author : Stiglitz : Chapter The East Asian Crisis(Course Readings Pack 3.) and Who Lost Russia in Globalization and its discontents Also Hirst & Thompson:
( i.e The developing Economies and Globalization appendix the East Asian Crisis) .
Argentina Solanas P (2004) Memoria del Saqueo/ A social genocide(documentary)
Subprime Crisis: Stiglitz ( 2010) Freefall Free Markets and The Sinking of the Global Economy; Lewis M (Ed) ( 2009) Panic: The history of Modern Financial
Insanity ( one chapter: the peoples panic is in Course Readings Pack 3. The reading says lecture 8 in handwriting y author: Stiglitz
7. Governments have different policies regarding foreign direct investment in the Mining Industry. Some of them restrict FDI while other governments encourage FDI
in the sector.
Use Dickens framework to assess potential impacts of mining FDI in each country and evaluate if Argentinas and Nigerias policies regarding FDI in Mining are the
best to maximise the welfare of their citizens.
.
You first need to research what type of policy regarding Mining FDI prevails in Argentina and Nigeria. Then you should apply Dickens framework (lecture notes are
based on Dickens framework) to assess potential positive and negative impacts of TNC ( in this question consider MNE=TNC). Analyse whether the application of the
framework suggests that benefits will probably outweigh the costs or negative impacts. Remember that the framework not only indicates areas of potential impact but
also proposes that whether or not FDI will be beneficial depends not only on the nature of the investment but also on the host country characteristics. When the
balance is not clear countries could just restrict FDI or allow it but imposing conditions to make sure the potential benefits are maximised and negative impacts
minimised. The way to structure the answer is up to you. For instance you can answer the question in general. i.e. the typical MNE operating in natural resources
will tend to have more negative than positive impacts in Nigeria. You can also answer with a particular case ( i.e BP or Xstrata) ); or choose any combination of
both.
Key Reading: Dicken
8: Discuss the advantages and disadvantages of Base of the Pyramid approaches to provide solutions to a) climate change b) extreme poverty and c) human rights. In
each case ( a b and c) propose an alternative approach that can be used by businesses.
There are no guidelines or required readings for this topic. Use the course lectures and your criteria and imagination to structure your essay.
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