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2018/19 Taught Postgraduate Module Catalogue

LUBS5140M Global Economic Coordination and Governance

15 creditsClass Size: 100

Module manager: Prof. Gary Dymski
Email: G.Dymski@leeds.ac.uk

Taught: Semester 1 View Timetable

Year running 2018/19

This module is not approved as an Elective

Module summary

This module examines the past, present, and possible futures of global economic coordination and governance. This involves both the challenges of national policy coordination and of financial governance. You will learn about the gold-standard, Keynes’ proposal for a global bancor system, the Bretton Woods system, and the neoliberal period. You will also learn about the transformation of banking systems, the dilemmas of financial governance, and the challenges of designing a sustainable, productive global economic structure and financial-governance framework for the future.

Objectives

This module aims to provide students with the knowledge and skills to evaluate the challenges involved in achieving global economic coordination and governance through exploration of the evolving history of global governance regimes from the Gold standard to the current day. It also provides a sustained opportunity to explore how microeconomic and macroeconomic concepts from economic theory and public policy questions and economic dynamics interact.

Learning outcomes
Upon completion of this module students will be able to:
- Apply fundamental microeconomic and macroeconomic principles involved in global economic governance, and recognise the challenges created by cross-border imbalances
- Identify and contextualise the 20th and 21st century events that have made global economic governance necessary but also problematic
- Critically compare the main approaches to global economic governance, developed by thinkers including Polanyi, Kindleberger, Keynes, Friedman, Eichengreen and Soros
- Debate the concepts of global hegemony and of open and closed systems
- Describe core elements of, and debates about, the Gold Standard system, Keynes’ Bancor proposal, the Bretton Woods system, and the neoliberal system
- Develop their own ideas about the future of the global economic system and its oversight, with special attention to the European crisis and to the role of the global South – especially the BRICS nations – in the evolving global dynamics

Skills outcomes
Upon completion of this module students will be able to:
Transferable
- Listen intelligently; debate effectively; and write clearly
- Express and defend ideas about contrasting logics of how things work

Subject specific
- Discuss and debate systems of international economic coordination
- Appreciate the contrasting logics of different approaches to macroeconomic policy-making and outcomes
- Connect political and economic logics in the realm of the international economy


Syllabus

Indicative content
Introduction: the Global Economic Crisis
Macro accounting and the global context of bordered economic relations
The End of the Gold Standard and the Great Depression
The Bancor: Keynes’ Plan for Global Prosperity
The Bretton Woods System: Paths Taken and Not Taken
Breakdown of the Bretton Woods System
The Neoliberal Era and the Latin American and Asian financial crises
Post-hegemonic hegemony-the Washington consensus
The Eurozone and its Crisis
Global Crisis, the BRICS, and the Global South
Does the World Still Need a Global Hegemon?

Teaching methods

Delivery typeNumberLength hoursStudent hours
Lecture111.0011.00
Seminar52.0010.00
Private study hours129.00
Total Contact hours21.00
Total hours (100hr per 10 credits)150.00

Private study

Private study:
- 6 hours reading per lecture: 60 hours;
- 5 hours reading and preparation per seminar: 25 hours;
- 44 hours revision for the final examination.

Opportunities for Formative Feedback

Students are expected to take an active part in seminar discussions. Their contribution to seminars provides an essential channel to monitor their progress with the module.

Methods of assessment


Exams
Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)2 hr 100.00
Total percentage (Assessment Exams)100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 12/12/2018 10:48:53

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