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Code IR 391
Term 201701
Title International Political Economy
Faculty Faculty of Arts and Social Sciences
Subject International Relations(IR)
SU Credit 3
ECTS Credit 6.00 / 6.00 ECTS (for students admitted in the 2013-14 Academic Year or following years)
Instructor(s) Is?k Ozel,
Detailed Syllabus
Language of Instruction English
Level of Course Undergraduate
Type of Course Click here to view.
(only for SU students)
IR201 SPS102 SPS101 ECON202
Mode of Delivery Formal lecture,Interactive lecture
Planned Learning Activities Interactive,Communicative,Discussion based learning,Project based learning,Simulation,Case Study

This course examines the interaction between politics and economics on an international scale. International political economy (IPE) is a field situated at the intersection of markets and politics. Through analyzing the nature of economic and political linkages at the global level, this course focuses on varying roles of states; multilateral and domestic institutions; and, non-state actors in shaping prevalent processes in the IPE. The main goal of this course is to expose students to theoretical debates and substantive empirical issues in the contemporary IPE scholarship. In order to meet this goal, we will discuss major theoretical approaches in the IPE field and analyze substantive empirical issues in light of these approaches. The empirical issues we will study include: international monetary relations; international trade and capital flows; and, contemporary phenomena like globalization and regionalization. Overall, this course seeks to help students develop theoretical knowledge and analytical skills in the field of IPE.


This course aims to introduce students to major theoretical and empirical issues in the sub-field of international political economy (IPE). It will focus on several issue areas in IPE such as international trade, international monetary system, international production networks (multinational corporations) and development in the context of ongoing regional and global integration. The course will be constituted of four distinct parts whose detailed contents are explained under the Course Schedule.

Part I will explore major theoretical perspectives in IPE and their application on empirical issues, especially the global and regional integration of markets. Providing a brief historical background for the emergence and prevalence of increasing integration and interdependence at the global and regional levels, this part will discuss the milestones with respect to the evolution of interdependence at the global and regional markets in the 20th and 21st centuries.

Part II will discuss political economy of international and regional trade studying the role of the interest groups and distributional issues, along with the international and regional organizations. It will examine multilateral and preferential trade agreements including the customs unions and free trade agreements; scrutinize the recent changes regarding trade; and elaborate on the role of the international, regional and supranational organizations in such changes.

Part III will discuss the North-South divide and economic development. It will go through major development strategies implemented by developing countries since the 1950s; assess varying levels of success and failure across countries. Then it will examine market transitions, ?the Washington Consensus?, ?post-Washington consensus? and ?the Beijing Consensus?. Finally, it will discuss the ongoing challenges faced by developing countries in the context of global and regional integration.

Part IV will focus on the process of global integration and its diverse consequences. It will discuss the expansion of capital movements and their worldwide impact, addressing the expansion of multinational corporations and portfolio flows. It will go through the current debates on the validity and sustainability of different models in the context of globalization.

Learning Outcome

On completion of the module, students should be able to
a) Comprehend the major issues, theories and approaches in IPE as well as the contemporary debates around those.
b) Identify how major issue areas in IPE are examined through the varying perspectives of leading theories and approaches.
c) Understand the complexity of the interplay between interests, institutions and ideas in making of foreign economic policy decisions.
d) Apply the designated economic theories on the analysis of interests and policy outcomes
e) Evaluate policy outcomes in the context of the IPE scholarship and empirical developments.
f) Analyze the complementary and contradictory aspects of global and regional integration and national development.
g) Develop skills to do an analytical and critical reading about the IPE literature
h) Conduct empirical research on major issue areas in IPE and apply critical perspectives on such research.
i) Work in small groups, undertaking original research
j) Present research in class.
k) Write papers--individually and as a group.

Programme Outcomes
Common Outcomes For All Programs
1 Understand the world, their country, their society, as well as themselves and have awareness of ethical problems, social rights, values and responsibility to the self and to others. 4
2 Understand different disciplines from natural and social sciences to mathematics and art, and develop interdisciplinary approaches in thinking and practice. 2
3 Think critically, follow innovations and developments in science and technology, demonstrate personal and organizational entrepreneurship and engage in life-long learning in various subjects. 4
4 Communicate effectively in Turkish and English by oral, written, graphical and technological means. 5
5 Take individual and team responsibility, function effectively and respectively as an individual and a member or a leader of a team; and have the skills to work effectively in multi-disciplinary teams. 5
Common Outcomes ForFaculty of Arts & Social Sci.
1 Develop a thorough knowledge of theories, concepts, and research methods in the field and apply them in research design and data analysis. 5
2 Assess the impact of the economic, social, and political environment from a global, national and regional level. 5
3 Know how to access written and visual, primary and secondary sources of information, interpret concepts and data from a variety of sources in developing disciplinary and interdisciplinary analyses. 3
International Studies Program Outcomes Required Courses
1 Analyze global affairs from international relations and economics perspectives. 5
2 Demonstrate theoretical and practical knowledge of the international affairs. 5
3 Compete for increasing opportunities in careers within the newly emerging global institutions. 4
4 Evaluate the international political events and present their views and positions on international affairs with advanced oral and written skills. 5
Political Science Program Outcomes Core Electives I
1 Understand and follow changes in patterns of political behavior, ideas and structures. 5
2 Develop the ability to make logical inferences about social and political issues on the basis of comparative and historical knowledge. 4
Assessment Methods and Criteria
  Percentage (%)
Final 30
Midterm 20
Participation 10
Individual Project 20
Group Project 10
Presentation 10
Recommended or Required Reading

Oatley, Thomas. 2013. International Political Economy, Interests and Institutions in the Global Economy, 5th edition, New York: Pearson Longman.


-Lairson, Thomas D. and David Skidmore, International Political Economy, the Struggle for Power and Wealth, Thomson and Wadsworth, chapters 3-4
- United Nations Monetary and Financial Conference at Bretton Woods. Summary of Agreements. July 22, 1944.
- Marshall Plan Speech by George Marshall.
- Oxfam. 2002. ?Rigged Rules and Double Standards: Trade, Globalization, and the Fight against Poverty?. Oxfam Trade Report.
- Miles, T. ?Argentina complains to WTO over Spanish biodiesel rules, Reuters, 8/20/2012.
- Nelson, R. and M.A. Weiss. 2015. ?IMF Reforms: Issues for Congress,? Washington, D.C.: Congressional Research Service.
- Davis, C. 2006. ?Do WTO Rules Create a Level Playing Field for Developing Countries? Lessons from Peru and Vietnam,? in J. Odell (ed.) Negotiating Trade, Cambridge University Press.
-United Nations Millennium Declaration.? 2000. Resolution adopted by the General Assembly, 55/2.
- Human Development Report 2014, Sustaining Human Progress: Reducing Vulnerabilities and Building Resilience,? UNDP.

- World Trade Report 2011. The WTO and Preferential Trade Agreements: From Co-existence to Coherence,? World Trade Organization.
- Sen, A. ?How to Judge Globalism? in Lechner & Boli, pp.19-24.
- Friedman, T.L. 1999. ?The Lexus and the Olive Tree: Understanding Globalization?.
- Florida, Richard. 2005. ?The World is Spiky: Globalization has changed the economic playing field but hasn?t leveled it,? in O?Neil & Rogowski, Essential, pp. 590-595.
- Rodrik, D. ?Has Globalization Gone too Far?? in Lechner & Boli, pp.241-246.
- Subcomandante Marcos, ?Tomorrow Begins Today,? in Lechner & Boli, pp.474-478.
- World Social Forum, ?Porto Alegre Call for Mobilization,? in Lechner & Boli, pp.479-481.
- International Forum on Globalization,?A Better World is Possible,?Lechner&Boli, 482-493.
- Stiglitz, J.E.2008. ?Making Globalisation Work,? The Economic and Social Review, 39 (3): 171?190.

Optional Readings

? Bhagwati, J., P. Krishna and A. Panagaria eds. 1999. Trading Blocs. Alternative Approaches to Analyzing Preferential Trade Agreements, Cambridge: MIT Press.
? Cini, M. 2009. European Union Politics, Oxford University Press, 3rd edition.
? Cohen, B.J. and C. Lipson. 1999. Issues and Agents in International Political Economy, Cambridge: MIT Press.
? Dinan, D. 2005. Ever Closer Union: An Introduction to European Integration, Palgrave.
? Frieden, J. 2006. Global Capitalism, Norton.
? Frieden, J and Lake, D. eds. 2000. International Political Economy, Bedford/ St. Martin?s.
? Gillingham, J. 2003. European Integration, 1950-2003, Superstate or New Market Economy? New York: Cambridge University Press.
? Lechner, Frank J. and John Boli eds. 2008. The Globalization Reader, Blackwell Publishing.
? McCann, D. 2010. The Political Economy of the European Union, Cambridge: Polity Press.
? Oxfam. 2003. "Running into the Sand: Why Failure at the Cancun Trade Talks Threatens the World's Poorest People." Oxfam Briefing Paper 53.
? Goldstein, J. and L. Martin. 2000. ?Legalization, Trade Liberalization, and Domestic Politics.? International Organization 54 (3): 603-32.
? Wroughton, Lesley, "IMF Vote Reform Bogged Down by Delays, Deadlock," Reuters, 10/8/2012.
? Krugman and Obstfeld. 2003. International Economics, pp.186-217.
? Hiscox, M. J. 2004. "The Domestic Sources of Foreign Economic Policies" in Ravenhill J. (ed) Global Political Economy, Oxford University Press, pp.50-84.
? Ozel, Is?k. 2011. ?Economic Development,? G.T. Kurian (ed.) The Encyclopedia of Political Science, Washington D.C.: CQ Press, Vol. 2, pp. 416-420.
? Rodrik, Dani. 2008. One Economics, Many Recipes: Globalization, Institutions, and Economic Growth, Princeton, New Jersey: Princeton University Press.
? Yang, D L. 1996. "Governing China's transition to the market: Institutional incentives, politicians' choices, and unintended outcomes." World Politics, 48(3): 424-452.
? Qian, Y. 2003. "How Reform Worked in China" in Rodrik (ed), In Search of Prosperity: Analytic Narratives on Economic Growth, Princeton University Press, pp. 297-333.
? Mosley, L. 2007. ?Racing to the Bottom or Climbing to the Top? Economic Globalization and Collective Labor Rights,? Comparative Political Studies, 40: 923-948.
? Stiglitz, Joseph E. 2002. Globalization and Its Discontents, W.W. Norton & Co.

? Baldwin, R. 2006. ?Multilateralising Regionalism: Spaghetti Bowls as Building Blocs on the Path to Global Free Trade,? World Politics.
? Panagariya, A. 2002. ?EU Preferential Trade Arrangements and Developing Countries.? The World Economy: 1415-1432.
? Rodrik, Dani. 2010. The Globalization Paradox: Democracy and the Future of the World Economy.