Teacher(s)
Language
English
Main themes
- Analysing the long run trends of globalization
- Analysing the economic relations between the EU and its main economic partners
Learning outcomes
At the end of this learning unit, the student is able to : | |
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Content
- Analysing the long run trends of globalization
- This part of the course will outline the geographical and historical evolution of the world economy (from 1945 to the present times) and how it affected the European Union economies
- at the macroeconomic level of national economies and the multilateral trading system, analysing the changes in terms of trade & FDI policies, opening of financial markets and exchange rate policies
- at the microeconomic level of the firm by understanding the evolution of the global value chain, the higher interconnectivity between national markets and multicultural aspects of international management
- Analysing the economic relations between the EU and its main economic partners
- This part of the course will analyse the trends and patterns of economic relations (trade, FDI, financial flows, labour movements and R&D cooperation) between the EU and each of its main trading partners (USA, China, Russia, Switzerland, Norway, Japan, South Korea, India and Canada).
- It will analyse the trade policies and trade disputes between the EU and each of its main trading partners.
- It will analyse the risks, obstacles and challenges faced by EU firms trying to penetrate these markets or having to adapt to the penetration from competitors originating from these countries.
Teaching methods
Students are expected to prepare preliminary readings for the course, which involves developing a synthesis of the main arguments of their readings. The readings are an essential prerequisite for the course.
The professor will develop the lectures based on the readings. Lectures will outline and discuss empirical material and specific case studies. Lectures will require a high degree of interaction with students. Attendance is compulsory. Each class will begin with a short quiz on the required readings (see below). The professor will then give an introduction followed by a discussion based on specific readings and questions prepared by the students. The list of readings and questions for each week will be given to students during the first class.
The professor will develop the lectures based on the readings. Lectures will outline and discuss empirical material and specific case studies. Lectures will require a high degree of interaction with students. Attendance is compulsory. Each class will begin with a short quiz on the required readings (see below). The professor will then give an introduction followed by a discussion based on specific readings and questions prepared by the students. The list of readings and questions for each week will be given to students during the first class.
Evaluation methods
- Attendance and weekly quizzes
- Examination (oral)
Bibliography
Readings and questions to prepare for the lectures
Total readings: 910 pages for the semester or an average of around 140 pages per week
PART ONE : A REVIEW OF THE MAIN CONCEPTS IN INTERNATIONAL ECONOMICS
Lecture 1: Concepts in International Economics
NO Readings (0 pages)
NO questions to prepare
PART TWO : AN OVERVIEW OF GLOBALISATION
Lecture 2: The rise of Europe in the World Economy 1492-1873
Readings (41 pages)
DEFRAIGNE, Jean-Christophe: “The historical links between China, Europe and the developing world” in “China, the EU and the Developing World”, Eds Matthieu Burnay, Jean-Christophe DEFRAIGNE & Jan Wouters, Edward Elgar, Cheltenham,2015, pp19-60.
KENNEDY, Paul, The Rise and Fall of the Great Powers, Vintage Books, New-York, 1987, pp143- 1885
Questions
What are the factors that account for the difference of growth rate between Europe and the rest of the world from the 16th century to the 19th century?
Why did Asia miss the industrial revolution before the late 19th century?
Outline Pomeranz’s arguments that underlines the importance of the American colonies for the European economy
Lecture 3: The acceleration of globalization, imperialism and wars: Europe from 1873 to 1945
Readings
KENNEDY, Paul, The Rise and Fall of the Great Powers, Vintage Books, New-York, 1987, pp194-274
Questions
Explain the drive for colonization
Explain the economic roots of WWI
Explain the economic roots of WWII
Lecture 4: the development of global value chains 1960-2008
Readings (139 pages)
DICKEN, Peter : “Global Shift: reshaping the global economic map in the 21st century”, Sage publications, London, 2015, pp 40-109
TUN, Eric : « The Globalization of production” in Ravenhill, John: “Global Political Economy”, Oxford University Press, 2017, pp174-195
DEFRAIGNE Jean-Christophe, La reconfiguration industrielle globale et la crise mondiale, Outre- Terre, revue européenne de géopolitique, N°46, Edition l’Esprit du Temps, Paris, 2016, pp143-192.
Questions
Why did MNEs developed global value chains in the 1960s?
Why did the globalization of the economy accelerate from the 1990s to the end of the 2000s?
Why despite economic globalization, there are still regions far more developed than other?
sLecture 5: From the Bretton Woods system to the Washington Consensus 1944-2001
Readings
EICHENGREEN Barry: “The European economy since 1945”, Princeton University Press, 2007, chapter 9, pp252-293
HELLEINER, Eric: “States and the reemergence of global finance”, Cornell, 1995, pp1-50
Questions
How did the Bretton Woods “system” emerged?
How do you explain the end of the “embedded capitalism” and the rise of neoliberalism ?
Lecture 6: The European integration process 1951-2007
Readings
DEFRAIGNE, Jean-Christophe, A Marxian analysis of the European construction – Contradictions, in de Nanteuil, Matthieu & Fjeld, Anders (Ed) Marx and Europe : Beyond Stereotypes, Below Utopias, Philosophy and Politics - Critical Explorations (PPCE, volume 30) Spinger 2024, ISNN: 978-3-031-53735-6
DEFRAIGNE, Jean-Christophe, A Marxian analysis of the European construction – Origins, in de Nanteuil, Matthieu & Fjeld, Anders (Ed) Marx and Europe : Beyond Stereotypes, Below Utopias, Philosophy and Politics - Critical Explorations (PPCE, volume 30) Spinger 2024, ISNN: 978-3-031-53735-6
Questions
How did the supranational European institutions emerge?
How do you explain the acceleration and slowdown of the European integration process ?
Lecture 7: Global economic governance & the end of the Washington Consensus: the return of Great Powers Rivalry 2001-2022
Readings (chose one reading among these two possibilities: 71 to 116 pages)
ALLISON, Graham, Destined for War, Scribe, Melbourne, 2017. pp2-24 & pp 89-184
DEFRAIGNE J-C, Is China on the Verge of a Weltpolitik? in Bart Dessein (Ed): Interpreting China as a Regional and Global Power, Palgrave Mc Millan, London, 2014, pp293-323 & DEFRAIGNE J-C, Les contradictions de l’administration Trump et l’avenir du commerce mondial », Grésea Échos n°93, mars 2018.
Questions
Is the US hegemonic position being challenged since 2008? To what extent?
Can a US-China conflict be avoided?
Total readings: 910 pages for the semester or an average of around 140 pages per week
PART ONE : A REVIEW OF THE MAIN CONCEPTS IN INTERNATIONAL ECONOMICS
Lecture 1: Concepts in International Economics
NO Readings (0 pages)
NO questions to prepare
PART TWO : AN OVERVIEW OF GLOBALISATION
Lecture 2: The rise of Europe in the World Economy 1492-1873
Readings (41 pages)
DEFRAIGNE, Jean-Christophe: “The historical links between China, Europe and the developing world” in “China, the EU and the Developing World”, Eds Matthieu Burnay, Jean-Christophe DEFRAIGNE & Jan Wouters, Edward Elgar, Cheltenham,2015, pp19-60.
KENNEDY, Paul, The Rise and Fall of the Great Powers, Vintage Books, New-York, 1987, pp143- 1885
Questions
What are the factors that account for the difference of growth rate between Europe and the rest of the world from the 16th century to the 19th century?
Why did Asia miss the industrial revolution before the late 19th century?
Outline Pomeranz’s arguments that underlines the importance of the American colonies for the European economy
Lecture 3: The acceleration of globalization, imperialism and wars: Europe from 1873 to 1945
Readings
KENNEDY, Paul, The Rise and Fall of the Great Powers, Vintage Books, New-York, 1987, pp194-274
Questions
Explain the drive for colonization
Explain the economic roots of WWI
Explain the economic roots of WWII
Lecture 4: the development of global value chains 1960-2008
Readings (139 pages)
DICKEN, Peter : “Global Shift: reshaping the global economic map in the 21st century”, Sage publications, London, 2015, pp 40-109
TUN, Eric : « The Globalization of production” in Ravenhill, John: “Global Political Economy”, Oxford University Press, 2017, pp174-195
DEFRAIGNE Jean-Christophe, La reconfiguration industrielle globale et la crise mondiale, Outre- Terre, revue européenne de géopolitique, N°46, Edition l’Esprit du Temps, Paris, 2016, pp143-192.
Questions
Why did MNEs developed global value chains in the 1960s?
Why did the globalization of the economy accelerate from the 1990s to the end of the 2000s?
Why despite economic globalization, there are still regions far more developed than other?
sLecture 5: From the Bretton Woods system to the Washington Consensus 1944-2001
Readings
EICHENGREEN Barry: “The European economy since 1945”, Princeton University Press, 2007, chapter 9, pp252-293
HELLEINER, Eric: “States and the reemergence of global finance”, Cornell, 1995, pp1-50
Questions
How did the Bretton Woods “system” emerged?
How do you explain the end of the “embedded capitalism” and the rise of neoliberalism ?
Lecture 6: The European integration process 1951-2007
Readings
DEFRAIGNE, Jean-Christophe, A Marxian analysis of the European construction – Contradictions, in de Nanteuil, Matthieu & Fjeld, Anders (Ed) Marx and Europe : Beyond Stereotypes, Below Utopias, Philosophy and Politics - Critical Explorations (PPCE, volume 30) Spinger 2024, ISNN: 978-3-031-53735-6
DEFRAIGNE, Jean-Christophe, A Marxian analysis of the European construction – Origins, in de Nanteuil, Matthieu & Fjeld, Anders (Ed) Marx and Europe : Beyond Stereotypes, Below Utopias, Philosophy and Politics - Critical Explorations (PPCE, volume 30) Spinger 2024, ISNN: 978-3-031-53735-6
Questions
How did the supranational European institutions emerge?
How do you explain the acceleration and slowdown of the European integration process ?
Lecture 7: Global economic governance & the end of the Washington Consensus: the return of Great Powers Rivalry 2001-2022
Readings (chose one reading among these two possibilities: 71 to 116 pages)
ALLISON, Graham, Destined for War, Scribe, Melbourne, 2017. pp2-24 & pp 89-184
DEFRAIGNE J-C, Is China on the Verge of a Weltpolitik? in Bart Dessein (Ed): Interpreting China as a Regional and Global Power, Palgrave Mc Millan, London, 2014, pp293-323 & DEFRAIGNE J-C, Les contradictions de l’administration Trump et l’avenir du commerce mondial », Grésea Échos n°93, mars 2018.
Questions
Is the US hegemonic position being challenged since 2008? To what extent?
Can a US-China conflict be avoided?
PART THREE : THE EU IN THE WORLD TRADING SYSTEM
Lecture 8: The World Trading System from GATT to the WTO Readings (157 pages)
NARLIKAR, Amrita, “The World Trade Organization: a very short introduction”, Oxford University Press, 2005, pp1-143pp.
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia : « Politique Commerciale » in « Introduction à l’Economie Européenne », 3ème édition, Ouvertures Economiques, De Boeck, Brussels, 2022, pp524- 538
HOPEWELL, Kristen, Clash of Powers, Cambridge University Press, 2020 pp30-59
Questions
What is dumping and how do the WTO rules try to contain it?
Is the WTO dispute settlement mechanism always fair and effective? For what reasons?
How do you account for the flurry of regional trade agreements since the 1990s? Are they building or stumbling blocks?
Is the WTO a fragile and weakening institution and if so, why?
Lecture 9: The World Trading System from GATT to the WTO
Readings: no reading this week (0 pages) Questions
What is dumping and how do the WTO rules try to contain it?
Is the WTO dispute settlement mechanism always fair and effective? For what reasons?
How do you account for the flurry of regional trade agreements since the 1990s? Are they building or stumbling blocks?
Is the WTO a fragile and weakening institution and if so, why?
Lectures 10: The framework of the EU trade policy from an institutional approach and from an IPE approach (part I)-
Readings (103 pages)
GSTOHL Sieglinde & De BIEVRE, Dirk : « The Trade Policy of the European Union”, Palgrave Mc Millan, 2018, pp19-108.
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels ,2022, pp539-552
Questions
Outline the different institutional steps of the EU in the making by of a trade agreement with a third country.
Why have the trade agreements become increasingly complex to negotiate and ratify?
Analyze the offensive and defensive aspects of the EU trade policy.
Identify the various possible stakeholders involved in a trade agreement negotiated by the EU.
Lecture 8: The World Trading System from GATT to the WTO Readings (157 pages)
NARLIKAR, Amrita, “The World Trade Organization: a very short introduction”, Oxford University Press, 2005, pp1-143pp.
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia : « Politique Commerciale » in « Introduction à l’Economie Européenne », 3ème édition, Ouvertures Economiques, De Boeck, Brussels, 2022, pp524- 538
HOPEWELL, Kristen, Clash of Powers, Cambridge University Press, 2020 pp30-59
Questions
What is dumping and how do the WTO rules try to contain it?
Is the WTO dispute settlement mechanism always fair and effective? For what reasons?
How do you account for the flurry of regional trade agreements since the 1990s? Are they building or stumbling blocks?
Is the WTO a fragile and weakening institution and if so, why?
Lecture 9: The World Trading System from GATT to the WTO
Readings: no reading this week (0 pages) Questions
What is dumping and how do the WTO rules try to contain it?
Is the WTO dispute settlement mechanism always fair and effective? For what reasons?
How do you account for the flurry of regional trade agreements since the 1990s? Are they building or stumbling blocks?
Is the WTO a fragile and weakening institution and if so, why?
Lectures 10: The framework of the EU trade policy from an institutional approach and from an IPE approach (part I)-
Readings (103 pages)
GSTOHL Sieglinde & De BIEVRE, Dirk : « The Trade Policy of the European Union”, Palgrave Mc Millan, 2018, pp19-108.
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels ,2022, pp539-552
Questions
Outline the different institutional steps of the EU in the making by of a trade agreement with a third country.
Why have the trade agreements become increasingly complex to negotiate and ratify?
Analyze the offensive and defensive aspects of the EU trade policy.
Identify the various possible stakeholders involved in a trade agreement negotiated by the EU.
Lectures 11: The framework of the EU trade policy from an institutional approach and from an IPE approach (part II)-
Readings: : no readings this lecture (0 pages)
Lecture 12: The transatlantic relation (US & Canada)
Readings (57 pages)
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels ,2022, pp552-568
DEFRAIGNE, Jean-Christophe, US industrial policy: The not-so-visible hand of the state and securing the dominance of US prime movers, in DEFRAIGNE, Jean-Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp210-241.
Questions
How do you account for the rise of protectionism in the US since 2008?
What were the reasons behind the launching of the TTIP and why did it fail?
Outline the factors that generated a technological dependency of the EU vis-à-vis the US.
Analyse the negotiations and results of the CETA.
Lecture 13: the relation with China
Readings (90 pages)
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels, 2022, pp568-578.
DEFRAIGNE, Jean-Christophe, China’s industrial policy: The visible hand of the party-state to catch up by any means necessary, in DEFRAIGNE, Jean-Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp242-269
DEFRAIGNE JC: “China shakes the world: Challenges arising from shifts in the global balance of power” in “China, the EU and Global governance”, Eds Jean-Christophe DEFRAIGNE, Pierre DEFRAIGNE, Tanguy de Wilde & Jan Wouters, Edward Elgar, Cheltenham, 2012 pp13-50
DEFRAIGNE Jean-Christophe: « Chinese Outward Direct Investment in Europe and the control of the global value chain”, in the Asia Europe Journal, Springer, special issue on “China’s Rise and Europe’s Response”, Asia Europe Journal, April 2017, pp1-16, Springer, Asia Eur J (2017)
Questions
Is China buying Europe? Analyze bilateral trade and investment flows between the EU and China.
Outline the main sources of economic tensions between the EU and China.
Why is China different from the rest of large emerging economies in the eyes of the EU and European governments?
What problems does the Chinese economy face in its technological catching-up of advanced economies?
Readings: : no readings this lecture (0 pages)
Lecture 12: The transatlantic relation (US & Canada)
Readings (57 pages)
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels ,2022, pp552-568
DEFRAIGNE, Jean-Christophe, US industrial policy: The not-so-visible hand of the state and securing the dominance of US prime movers, in DEFRAIGNE, Jean-Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp210-241.
Questions
How do you account for the rise of protectionism in the US since 2008?
What were the reasons behind the launching of the TTIP and why did it fail?
Outline the factors that generated a technological dependency of the EU vis-à-vis the US.
Analyse the negotiations and results of the CETA.
Lecture 13: the relation with China
Readings (90 pages)
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels, 2022, pp568-578.
DEFRAIGNE, Jean-Christophe, China’s industrial policy: The visible hand of the party-state to catch up by any means necessary, in DEFRAIGNE, Jean-Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp242-269
DEFRAIGNE JC: “China shakes the world: Challenges arising from shifts in the global balance of power” in “China, the EU and Global governance”, Eds Jean-Christophe DEFRAIGNE, Pierre DEFRAIGNE, Tanguy de Wilde & Jan Wouters, Edward Elgar, Cheltenham, 2012 pp13-50
DEFRAIGNE Jean-Christophe: « Chinese Outward Direct Investment in Europe and the control of the global value chain”, in the Asia Europe Journal, Springer, special issue on “China’s Rise and Europe’s Response”, Asia Europe Journal, April 2017, pp1-16, Springer, Asia Eur J (2017)
Questions
Is China buying Europe? Analyze bilateral trade and investment flows between the EU and China.
Outline the main sources of economic tensions between the EU and China.
Why is China different from the rest of large emerging economies in the eyes of the EU and European governments?
What problems does the Chinese economy face in its technological catching-up of advanced economies?
Lecture 14: the relation with East Asia
Readings (40 pages)
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels, 2022, pp578-582
DEFRAIGNE Jean-Christophe & Pitakdumrongkit Kaewkamol, Economic Security, in Christiansen T., Kirchner E, Tan, See S. (Eds) “The European Union Security Relations with Asian Partners”, Palgrave Mc Millan, Basingstoke, ISBN 978-3-030-69966-6,2021, pp1-19
CHRISTIANSEN Thomas, DEFRAIGNE, Jean-Christophe, Hiromasa Kubo, The Economic Security Dimension in EU-Japan Relations, in Kirchner, E. and Dorussen, H. (eds) EU-Japan Security Cooperation: Challenges and Opportunities, Routledge, London, 2018, pp1-17
Questions
What are the convergences and divergence in terms of commercial diplomacy objectives between the EU and its East Asian Partner?
Analyse the origins and the possible impact of the 2018 Japan-EU agreement?
Lecture 15: the relation with the BRICS and other large emerging economies
Readings (78 pages)
DEFRAIGNE Jean-Christophe, L’impact des émergents sur l’Union européenne in Wintgens, Sophie & Zacharie, Arnaud, Le décentrage du monde : L’impact des émergents sur la gouvernance mondiale, Editions Le Bord de l’Eau/La Muette, Bruxelles, 2018, pp81-108
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels ,2022, pp 483-490, pp583-585
DEFRAIGNE Jean-Christophe, The Eurasian Economic Union and the challenge of the BRI: a comparison of their respective impacts on economic development and Russia’s regional leadership, Eurasian Geography and Economics, Eurasian Geography and Economics, Volume 62, Issue 5-6, 2021, pp1-35
DEFRAIGNE, Jean-Christophe, Les racines économiques de la guerre du Kremlin en Ukraine, Outre- Terre Revue européenne de géopolitique, Volume 63, forthcoming, pp1-9.
Questions
What are the causes of the rise of the emerging economies?
What are the possible impacts of this rise on global economic governance?
Are the BRICS a group capable of developing a coherent strategy?
What are the main divergences between the EU and the large emerging economies such as the BRICS, Turkey or Indonesia?
What are the structural causes for the tensions between the EU and Russia these last two decades?
Readings (40 pages)
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels, 2022, pp578-582
DEFRAIGNE Jean-Christophe & Pitakdumrongkit Kaewkamol, Economic Security, in Christiansen T., Kirchner E, Tan, See S. (Eds) “The European Union Security Relations with Asian Partners”, Palgrave Mc Millan, Basingstoke, ISBN 978-3-030-69966-6,2021, pp1-19
CHRISTIANSEN Thomas, DEFRAIGNE, Jean-Christophe, Hiromasa Kubo, The Economic Security Dimension in EU-Japan Relations, in Kirchner, E. and Dorussen, H. (eds) EU-Japan Security Cooperation: Challenges and Opportunities, Routledge, London, 2018, pp1-17
Questions
What are the convergences and divergence in terms of commercial diplomacy objectives between the EU and its East Asian Partner?
Analyse the origins and the possible impact of the 2018 Japan-EU agreement?
Lecture 15: the relation with the BRICS and other large emerging economies
Readings (78 pages)
DEFRAIGNE Jean-Christophe, L’impact des émergents sur l’Union européenne in Wintgens, Sophie & Zacharie, Arnaud, Le décentrage du monde : L’impact des émergents sur la gouvernance mondiale, Editions Le Bord de l’Eau/La Muette, Bruxelles, 2018, pp81-108
DEFRAIGNE, Jean-Christophe & NOUVEAU Patricia, Introduction à l’Economie Européenne, 3ème édition, Ouvertures Economiques, De Boeck, Brussels ,2022, pp 483-490, pp583-585
DEFRAIGNE Jean-Christophe, The Eurasian Economic Union and the challenge of the BRI: a comparison of their respective impacts on economic development and Russia’s regional leadership, Eurasian Geography and Economics, Eurasian Geography and Economics, Volume 62, Issue 5-6, 2021, pp1-35
DEFRAIGNE, Jean-Christophe, Les racines économiques de la guerre du Kremlin en Ukraine, Outre- Terre Revue européenne de géopolitique, Volume 63, forthcoming, pp1-9.
Questions
What are the causes of the rise of the emerging economies?
What are the possible impacts of this rise on global economic governance?
Are the BRICS a group capable of developing a coherent strategy?
What are the main divergences between the EU and the large emerging economies such as the BRICS, Turkey or Indonesia?
What are the structural causes for the tensions between the EU and Russia these last two decades?
PART FOUR: THE GLOBAL FINANCIAL SYSTEM
Lecture 16: An overview of the international financial and monteray system from Bretton Woods to the 1990s
Readings (23 pages)
HELLEINER, Eric “The evolution of the International monetary and financial systems” in RAVENHILL, John Eds “Global Political Economy”, Oxford University Press, 2010, p199-222
Questions: no questions to prepare for this lecture
Lecture 17: the mechanisms behind financial deregulation
Readings (87pages)
HELLEINER, Eric: “States and the reemergence of global finance”, Cornell, 1995, pp81-168
Questions
What was the context that explains the success of the Bretton Woods conference?
How did the Eurodollars and Eurocurrencies markets destabilise the Bretton Woods system?
Why did the US and European governments allowed the relaxation of capital control?
Lecture 18: The EU and the rise of financial instability 1990-2008
Readings (100 to 127 pages) (choose one among these two options)
DEFRAIGNE, Jean-Christophe, Introduction à l’Economie Européenne, 3ème edition, , Ouvertures Economiques, De Boeck, Brussels, 2022, pp174-189 & RAJAN, Raghuram, Fault Lines, Princeton University Press, 2010, chapters 5 to 7 (included)
TOOZE, Adam, Crashed, 2018, chapters 6 to 9 (included)
Questions
Explain the rise of financial crises in emerging economies in the 1990s?
Explain the origins of the subprime crisis
How did the subprime crisis evolved into a global financial crisis in 2008?
How did capital mobility and the interconnection of financial markets across the globe restrain the room for manoeuvre of government economic policy?
Lecture 16: An overview of the international financial and monteray system from Bretton Woods to the 1990s
Readings (23 pages)
HELLEINER, Eric “The evolution of the International monetary and financial systems” in RAVENHILL, John Eds “Global Political Economy”, Oxford University Press, 2010, p199-222
Questions: no questions to prepare for this lecture
Lecture 17: the mechanisms behind financial deregulation
Readings (87pages)
HELLEINER, Eric: “States and the reemergence of global finance”, Cornell, 1995, pp81-168
Questions
What was the context that explains the success of the Bretton Woods conference?
How did the Eurodollars and Eurocurrencies markets destabilise the Bretton Woods system?
Why did the US and European governments allowed the relaxation of capital control?
Lecture 18: The EU and the rise of financial instability 1990-2008
Readings (100 to 127 pages) (choose one among these two options)
DEFRAIGNE, Jean-Christophe, Introduction à l’Economie Européenne, 3ème edition, , Ouvertures Economiques, De Boeck, Brussels, 2022, pp174-189 & RAJAN, Raghuram, Fault Lines, Princeton University Press, 2010, chapters 5 to 7 (included)
TOOZE, Adam, Crashed, 2018, chapters 6 to 9 (included)
Questions
Explain the rise of financial crises in emerging economies in the 1990s?
Explain the origins of the subprime crisis
How did the subprime crisis evolved into a global financial crisis in 2008?
How did capital mobility and the interconnection of financial markets across the globe restrain the room for manoeuvre of government economic policy?
Lecture 19. The dollar and in the international monetary syste
Readings (99 to 111 pages) (choose one among these two options)
PRASAD, Eswar : “the Dollar Trap”, Princeton University Press 2014, pp11-122
ANGELONI Ignazio, BÉNASSY-QUÉRÉ Agnes, CARTON, Benjamin , ZSOLT DARVAS, DESTAIS
Christophe, PISANI-FERRY Jean , SAPIR André & VALLÉE, Shahin : “Global currencies for tomorrow: a European perspective”, CEPII BREUGEL, Brussels 2011, p1-99
Questions
Why didn’t the 2008 crisis generate a new Bretton woods?
How do you explain the resilience of the dollar despite the financial crisis in the US and why couldn’t the Euro replace it?
What are the risks generated by the new monetary policies of the largest Central Banks after 2008?
Lecture 20. The EU and tax evasion and money laundering
Readings (150 pages)
SHAXSON, Nicholas: “Treasure Islands: tax havens and the men who stole the world” Vintage, Londres, 2011, pp8-165
Press clippings & reports
Questions
Outline the role of the State in the development of tax havens.
What are the consequences of tax evasion and money laundering?
Is tax evasion being tackled at the EU or multilateral level?
Readings (99 to 111 pages) (choose one among these two options)
PRASAD, Eswar : “the Dollar Trap”, Princeton University Press 2014, pp11-122
ANGELONI Ignazio, BÉNASSY-QUÉRÉ Agnes, CARTON, Benjamin , ZSOLT DARVAS, DESTAIS
Christophe, PISANI-FERRY Jean , SAPIR André & VALLÉE, Shahin : “Global currencies for tomorrow: a European perspective”, CEPII BREUGEL, Brussels 2011, p1-99
Questions
Why didn’t the 2008 crisis generate a new Bretton woods?
How do you explain the resilience of the dollar despite the financial crisis in the US and why couldn’t the Euro replace it?
What are the risks generated by the new monetary policies of the largest Central Banks after 2008?
Lecture 20. The EU and tax evasion and money laundering
Readings (150 pages)
SHAXSON, Nicholas: “Treasure Islands: tax havens and the men who stole the world” Vintage, Londres, 2011, pp8-165
Press clippings & reports
Questions
Outline the role of the State in the development of tax havens.
What are the consequences of tax evasion and money laundering?
Is tax evasion being tackled at the EU or multilateral level?
PART 5. INDUSTRIAL POLICY, TECHNOLOGY, ENERGY & ENVIRONMENT CHALLENGES
Lecture 21. The economics of industrial Policy & technology
Readings (10 pages)
Defraigne, Jean-Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp13-23.
Questions
Outline the main rationale behind an Industrial Policy.
Outline the main tools of an Industrial Policy.
Lecture 22. EU Industrial Policy and its limits
Readings (68 pages)
MAZZUCATO, Elizabeth, Mission-Oriented Research & Innovation in the European Union A problem-solving approach to fuel innovation-led growth, European Commission, Directorate-General for Research and Innovation, Brussels, pp 4-30
GUINEA, Oscar& ERIXON, Fredrik: “Standing up for Competition: Market Concentration, Regulation, and Europe’s Quest for a New Industrial Policy », ECIPE 2019, pp 4-18
DEFRAIGNE, Jean-Christophe, TRAVERSA, Edoardo, WOUTERS Jan & ZUSTRASSEN Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp1-13 & pp 24-39.
Questions
What is the purpose of mission based industrial policy?
What are the possible negative effects of a more interventionist EU industrial policy?
What are difficulties specific to the EU when it comes to developing an industrial policy?
Lecture 23. EU strategic autonomy, technology and security
Readings (44 pages)
NOUVEAU Patricia, Falling behind and in between the United States and China: can the European Union drive its digital transformation away from industrial path dependency?in Defraigne, Jean- Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, 2022, pp332-376
Questions
Outline the technological gap between the US and some other large economies
How does the EU define its strategic autonomy and is it different from other large economies?
Lecture 24. Energy Policy & Security in the EU
Readings (80 pages)
File Press clipping and reports
Questions: no question this lecture
Lecture 21. The economics of industrial Policy & technology
Readings (10 pages)
Defraigne, Jean-Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp13-23.
Questions
Outline the main rationale behind an Industrial Policy.
Outline the main tools of an Industrial Policy.
Lecture 22. EU Industrial Policy and its limits
Readings (68 pages)
MAZZUCATO, Elizabeth, Mission-Oriented Research & Innovation in the European Union A problem-solving approach to fuel innovation-led growth, European Commission, Directorate-General for Research and Innovation, Brussels, pp 4-30
GUINEA, Oscar& ERIXON, Fredrik: “Standing up for Competition: Market Concentration, Regulation, and Europe’s Quest for a New Industrial Policy », ECIPE 2019, pp 4-18
DEFRAIGNE, Jean-Christophe, TRAVERSA, Edoardo, WOUTERS Jan & ZUSTRASSEN Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, ISBN: 978180037262, 2022, pp1-13 & pp 24-39.
Questions
What is the purpose of mission based industrial policy?
What are the possible negative effects of a more interventionist EU industrial policy?
What are difficulties specific to the EU when it comes to developing an industrial policy?
Lecture 23. EU strategic autonomy, technology and security
Readings (44 pages)
NOUVEAU Patricia, Falling behind and in between the United States and China: can the European Union drive its digital transformation away from industrial path dependency?in Defraigne, Jean- Christophe, Traversa, Edoardo, Wouters Jan & Zustrassen Dimitri, Which EU industrial policy in the Multipolar Economy of the 21st Century? Edward Elgar, Cheltenham, 2022, pp332-376
Questions
Outline the technological gap between the US and some other large economies
How does the EU define its strategic autonomy and is it different from other large economies?
Lecture 24. Energy Policy & Security in the EU
Readings (80 pages)
File Press clipping and reports
Questions: no question this lecture
Readings (81 pages)
IPCC, 2022: Summary for Policymakers, Climate Change 2022: Impacts, Adaptation and Vulnerability. Contribution of Working Group II to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change [H.-O. Pörtner, D.C. Roberts, M. Tignor, E.S. Poloczanska, K. Mintenbeck, A. Alegría, M. Craig,S. Langsdorf, S. Löschke, V. Möller, A. Okem, B. Rama (eds.)]. Cambridge University Press, Cambridge, UK, pp. 5–33.
RAVENHILL, John Eds « Global Political Economy », Oxford University Press, 2008, chapters 14, pp388-413
DICKEN, Peter : “Global Shift: reshaping the global economic map in the 21st century”, Sage publications, London, 2015, Chapter 9, pp354-382.
Questions
Outline the main results of the IPCC report of 2022
What are the environmental impacts of economic globalization?
Lecture 26. The EU responses and their limits (domestic policies) Readings (70 pages)
DEFRAIGNE, Jean-Christophe : « Introduction à l’Economie Européenne », Ouvertures Economiques, De Boeck, Brussels, 2017, pp398-404
EUROPEAN COMMISSION: 'Fit for 55': delivering the EU's 2030 Climate Target”, European Commission, Brussels 2021, pp2-15
EUROPEAN COMMISSION, Next generation EU green bond framework, European Commission, Brussels 2021, pp1-22
CORPORATE EUROPE OBSERVATORY “A grey deal? Fossil fuel fingerprints on the European Green Deal”, Brussels, July 2020, pp1-21
CORPORATE EUROPE OBSERVATORY: « Big Oil and Gas buying influence in Brussels, Brussels, October 2019” pp1-11
Questions
Is the Green Deal more than an exercise greenwashing? Discuss
Lecture 27. The EU responses and their limits (multilateral policies) Readings (96 to 110 pages) (choose one among these three options)
ADELLE, Camilla Adelle, BIEDENKOPF, Katia TORNEY Diarmuid (Eds), “European Union External Environmental Policy: Rules, Regulation and Governance Beyond Borders”, Palgrave, McMillan, 2018, pp1-101 & RIFKIN, Jeremy - Can a Green New Deal Save Life on Earth?, Science Pô, Paris April 2020, https://www.youtube.com/watch?v=11LJBsTugWo
TANURO, Daniel, Green Capitalism : Why it can’t work, Fernwood Publishing, 2014, pp30-126
Questions
Is the multilateral framework to tackle climate change working?
Is Green sustainable capitalism a chimera?
Faculty or entity
Programmes / formations proposant cette unité d'enseignement (UE)
Title of the programme
Sigle
Credits
Prerequisites
Learning outcomes
Advanced Master in European Business and Economic Policy
