Key Words Globalisation, economic growth and development, trade and investment,
emerging markets, economic policy.
Brief Summary The unit will explore selected key issues presented by the globalising world economy. The key drivers of globalisation will be identified and examined. The factors why some country’s grow faster than others will be explored. The role of trade and investment will be examined within the context of global and regional institutional and financial frameworks. Current issues related to the global economy will be considered.
Globalisation: theory and evidence.
Economic growth and development: theory and historical trends.
The global financial and institutional framework: historical developments and contemporary application.
Trade and global investment theory and practice. Financial crises, and emerging market developments.
Learning Outcomes Unit Learning Outcomes
On successful completion of this unit students will be able to:
1. Explain the causes, consequences and debates with respect to globalisation.
2. Identify and explain the key factors that determine economic growth and development.
3. Explain the role of global institutional and financial frameworks in shaping the international economic environment.
4. Explain and evaluate the role of trade and the multinational enterprise in shaping the global economic environment.
5. Evaluate current issues related to the global economic environment.
Description of each element of Assessment
The taught subject material will be accompanied by discussion forums for each weekly topic. Assessed forum posts will consist of responses to prescribed readings, applying theoretical concepts, and presenting evidence to support or challenge the assertions of others. Students would be expected to post between 10‐15 substantive contributions per week.
Learning Resources Books recommended for purchase by students None
Essential Reading/ Resources
Wall, S., Minocha, S. & Rees, B. 2010, International business, 3rd edn, Prentice Hall Financial Times, New York;Harlow, England Steger, M.B., Battersby, P. & Siracusa, J.M. 2014, The SAGE Handbook of Globalization,Sage Publications Ltd, GB Todaro, M.P. & Smith, S.C. 2015, Economic development, Twelfth edn, Pearson, Harlow, England. Olson, Mancur. (1996). ‘Big bills left on the sidewalk: Why some nations are rich, and others poor. ’Journal of Economic Perspectives 10(2), 3‐24. North, D.C., (1994) ‘Economic Performance Through Time.’ The American
Economic Review, Vol. 84, No. 3 pp. 359‐368 Rodrik, D., 2002. Institutions, integration, and geography: In search of the deep determinants of economic growth. Modern Economic Growth: Analytical Country Studies Krugman, P., (1983) ‘Narrow and Broad Arguments for Free Trade’, The American Economic Review, Vol. 83(2) Dunning, J. H., (1988) ‘The eclectic paradigm of international production’, Journal of International Business Studies, Vol. 19, 1‐31.
Wade, R. (2004): Is Globalization Reducing Poverty and Inequality? World Development., 32 (4), p. 567‐589
Further Reading/ Resources
Levitt, T., (1983) The Globalisation of Markets’, Harvard Business Review May‐ June, pp.92‐102
Perraton et al. (1997): The Globalization of Economic Activity. New political economy., 2(2), p. 257‐277.
Glyn, A. (2004): The Assessment: How far has globalization gone? Oxford Review of Economic Policy 20 (1), p. 1‐14.
CASQE Page 5 of 6 Unit Specification – Collaborative/PG/Flexible
Zysman, J (1996) ‘The Myth of a “Global” Economy: Enduring National Foundations and Emerging Regional Realities’, New Political Economy, 1(2), July, pp. 157‐84 Das, D.K., (2010) ‘Another Perspective on Globalisation’, Journal of International Trade Law and Policy, Vol. 9(1), pp.46‐63 Douglas, S and Wind, Y., (1987) ‘The Myth of Globalisation’, Columbia Journal of World Business Winter, pp. 19‐29 Ferguson, N., (2005) ‘Sinking Globalisation’ Foreign Affairs, March April pp. 64‐ 77 Romer, Paul. (1990) ‘Endogenous Technological Change’ Journal of Political
Economy. Vol.98, No. 5, pp. 71‐102. Solow, Robert M. “A Contribution to the Theory of Economic Growth.”
Quarterly Journal of Economics. 70 (February 1956): 65‐94. Hall, R., and C. Jones, (1999), “Why do Some Countries Produce so Much More Output Per Worker than Others?” The Quarterly Journal of Economics, Vol. 114, No. 1, pp. 83–116. North D.C. (2003). The role of institutions in economic development. Discussion Paper Series No. 2003.2. United Nations Commission for Europe, Geneva. Dunning, J.H., 2003, May. Determinants of foreign direct investment: globalization‐induced changes and the role of policies. In Annual World Bank Conference on Development Economics, Europe,“Toward Pro‐Poor Policies Aid, Institutions, and Globalization. Edited by Bertil Tungodden, Nicholas Stern, and Ivar Kolstad (pp. 279‐290). Deraniyagala, S. and Fine, B., 2001. New trade theory versus old trade policy: a continuing enigma. Cambridge Journal of Economics, 25(6), pp.809‐825. Winters, A. (2004): Trade Liberalisation and Economic Performance: An Overview. Economic journal., Vol. 114, F4‐F21.