International Economic Policy · 2022/23
Master in International Markets
   

 
 


Antonio Quesada
Office 314
Departament d'Economia
Universitat Rovira i Virgili

Avinguda de la Universitat 1
43204 Reus (Catalonia)

Office hours (February - May 2023)
Monday, Tuesday  08.00-09.00
Wednesday, Thursday
08.00-11.00

Office hours can be requested at aqa@urv.cat 


Classroom A0.11
· 20 February 2023 - 29 March 2023

Monday 15.00-17:00  and  Wednesday
15.00-17:00
 
Sessions 
February
20
22
27






March
1
6
8
13 15 20 22 27 29






















'SOCIAL LAWS'
1. Almost everything is worthless (Sturgeon's law) Sturgeon's law
2. Almost everything is a bubble (Growth/development law)
3. Almost everything is fragile (Stability law)
4. Almost everything is politics (Distribution/allocation law)

Pick at most two, but for not long: Bubble-free / Frail-less / Politics-safe


 
 


Topics 
 

1. International Political Economy
           Framing questions, facts and conjectures
           Political/economic stability/development: Rodrik's trilemma 
        
  Summary chart (just of Part I and II of the six excerpts below)

2. Global power - geopolitics, geoeconomics, hegemony, conflict, elite dominance
         Great Divergence, Little Divergence, Rise of the West, Rise of the Rest,
         Thucydides trap,
Rise of China, Sputnik moment, Ian Bremmer's J curve,
         world-systems analysis: core-periphery, North-South divide, tension belts

        
  Cooperation vs conflict: a simple game 
          The Brandt line  |  The Brandt report  ( summary|  Brandt equation 

3. Global finance - dollar, international monetary system, inequality, financial trilemmas
         Kuznets curve, Kuznets waves (by
Branko Milanovic), 'elephant curve', Triffin dilemma,
         new Bretton Woods, 1% vs 99%
       
The elephant curve 
        1988-2008 (Heleen Mees 2016 How China's Rise Almost Toppled the West)
        1980-2016 ( http://wid.world/wp-content/uploads/2018/01/ElephantCurve.pdf )


4. Global integration - tension integration vs fragmentation, European integration
        
  Some questions on globalization
         Globalization vs deglobalization, slowbalization, globalization waves?,
         asymmetric globalization, is the world flat or broken?
        
Brief history of globalization (World Economic Forum) 

        
  Some ideas on finance and integration 

5. Global futures - technology, society, ecosystem
         How Malthusian is the world?, 'rise of the robots'?,
Jevons paradox,
         Does technology make history? Will capitalism die? The Singularity
         Social progress vs technological progress,
Great Convergence
         Collapse of complex societies, us vs them, Demographic explosion/collapse?


Miscellaneous excerpts from books and articles

         1.   Global integration I  (analysis)                    
         2.   Global integration II  (ideology) 
         3.  
Global integration III  (inequality, environment, technology) 

         4.   Geopolitics: the rise of China (and 'the Rest')
         5.   Capitalism, finance, democracy 
         6.   Global integration IV (challenges and future of global integration)



Evaluation 

1. True/false test exam (mainly on the miscellaneous excerpts) on Thursday 29 Mar 2023 
    · Questions will be in excess supply. 
      You may choose which 80% of the questions to answer.
   
· Wrong answer penalized
      Value of an incorrect answer =
- value of a correct answer
   
· No answer (below the 80% threshold) penalized
      Value of no answer = 
-(value of a correct answer)/4

2. Not-too-short, not-too-long essay on 8 books from this list (add to the list the references in the miscellaneous excerpts)
     · Include in the essay a brief summary of the main points/ideas/results of each book.
    
· Spend no more than one hour on each book (focus on the main message).
     · Relate, to the extent possible, all those ideas among themselves.
    
· Analyse the ideas critically, exposing virtues and shortcomings, comparing them with:
       - what other authors have said,
       - what is generally known or accepted,
       - with your own view.
    · Connect the ideas with what has been explained in class.
Essays by Niklas and Kendall (with thanks for sharing) 

· Deadline for the essay submission
Send a pdf version of your essay to aqa@urv.cat not later than Sunday 16 April 2023.

Footnotes 
 
  Cartoons · More cartoons   
  US debt clock: a global time bomb? 
  This explains everything: Murphy's law 
  On maps: What does 'the world' look like?
  Carlo Maria Cipolla's laws of human stupidity (Wikipedia, link, book)    
  Credit Suisse’s Global Wealth Report (2022) Credit Suisse

  Bloomberg billionaires index 

  European Central Bank key interest rates (01/99 - 02/23) 

  GDP per capita  1870-2016   1950-2016   US vs ARG 
History of humanity in one chart? (Gregory Clark, Farewell to alms, p. 2)

  'The future of the euro area' (2017) by François Villeroy de Galhau (Governor of the Bank of France)  |  Euro crisis
  Speech by Lorenzo Bini Smaghi on Tommaso Padoa-Schioppa  Quartetto  
  'The trilemma of a monetary union' (2012) by Hanno Beck and Aloys Prinz

Last update: 28 April 2023 · 07:37


Francisco de Goya (1826): 'Aún aprendo' ('Still learning')