Course coordinator
Professor Shahar Hameiri
Course overview
- Study period
- Semester 2, 2025 (28/07/2025 - 22/11/2025)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Politic Sc & Internat Studies
This course examines the main dynamics shaping the global political economy. It introduces students to theoretical perspectives on international political economy and examines the drivers and various dimensions of economic globalisation, as well as emerging challenges to it. Key issues include: global inequality; the global politics of trade, investment, production, and finance; and major economic crises, like the GFC and COVID-19. The course allows students to draw connections between the School's offerings in international relations and in political economy.
Welcome to POLS2402 International Political Economy!
Ever wondered why so many things are made in China, but not in Brisbane, or why houses are so much more expensive than they were a generation ago? Have you ever questioned whether the world is becoming more or less equal, and why some societies, or even regions and suburbs, are rich while others are poor? Ever asked why the government says it can't afford this, that and the other, but then finds billions to rescue financial markets during a crisis? And have you ever pondered why, in many countries, jobs are harder to find, less secure and worse paid nowadays than for the 'baby-boomer' generation? Have you pondered what tariffs are, and why you should care about Trump's 'trade war'?ﾠ
If you are interested in these issues, then you are in the right course, and at the right time. We are at a historic inflection point. Since the late 1970s, the world economy has become increasingly integrated, manifesting in growing volumes of international trade, investment, andﾠfinancial flows, as well as in the reorganisation of the production and consumption of goods and services across borders - dynamics captured in the buzzword 'globalisation'. Since the 'global financial crisis' (GFC) of 2008-9, however, and intensifying after the COVID-19 crisis, the war in Ukraine, and the inflation spike they caused, these globalising trends have weakened and may have even gone into reverse. Support for globalisation has also waned among Western publics, in particular, as deindustrialisation and the relocation of production destroyed manufacturing jobs while household debt has shot up. Increasing geopolitical tensions, especially between China and the United States, manifesting for example in US export controls on China's semiconductor industry, are pulling away from earlier integrationist trends. International investment has flatlined, and long, globalﾠsupply chains are suddenly viewed by many as risky, even reckless, both because of shortages of critical goods during the COVID crisis and the centrality of Chinese manufacturers in many supply chains. Into this challenging environment then stepped US President Donald Trump and his on-again-off-again tariffs on imports into the US. How and why did we get here? Did it have to be this way? Are things likely to get better or worse in the coming years and what can we do about it?
In order to address these questions and many more, we need to understand the contours and dynamics of the international (sometimes calledﾠ global) political economy. At the most basic level, IPE is a field of study that examines the interaction between questions of power and legitimacy,ﾠassociated with the field of politics, and questions regarding the production and distribution of resources and wealth, associated with economics, including atﾠmacro scales, such as world regions or even the entire globe. While economists often develop models that see politics as little more than an unwanted intrusion on the perfect operations of pristine markets,ﾠnot with standing their many differences, all IPE approaches fundamentally concur that politics and economics cannot be meaningfully understood in isolation. How they conceptualise states, societies, and markets, and theorise their interactions, differs considerably, however.
The course is organised broadly into two parts. In weeks 1-3, we will examine key concepts and theories, while in the remainder of the course we will be applying these to examine important issues in the contemporary international political economy:ﾠdevelopment and inequality; trade, investment and production; money; finance and debt; labour; climate and energy; international taxation and tax havens; and geoeconomics and the 'Second Cold War'. We conclude by thinking through whether we're witnessing the end of the neoliberal world order of globalisation, and what could be coming next.
Perhaps more than any other in your university degree, this course engages with the dynamics that shape your life, directly and indirectly. At the end of the course, you should be equipped with the basic tools to understand the international political economy, even as it continues to evolve.
I look forward to meeting you all in the course of the semester. I hope that you will enjoy learning in POLS2402, as much as I enjoyed putting the course together.
Shaharﾠ ﾠ ﾠ ﾠ
Course requirements
Assumed background
No prior knowledge of economics or any mathematical skills are required to do well in this course.
Recommended prerequisites
We recommend completing the following courses before enrolling in this one:
2 units POLS course
Course contact
Course staff
Lecturer
Professor Shahar Hameiri
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
PLEASE NOTE: ﾠ
The course will have 13 3-hour seminars, starting in Week 1. There are no tutorials. All the learning activities will take place in the same classroom. ﾠ
Aims and outcomes
This course aims to give students a firm grounding in the main theories, debates and themes of the contemporary international political economy. Students will be introduced to the main theories and critiques that shape our understanding of globalisation and challenges to it. They will then draw on these conceptual and theoretical tools to examine important thematic issues and problems in the international political economy.ﾠ
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Understand the major economic and political forces shaping the world economy and debates and conflicts over its nature and future
LO2.
Critically evaluate competing perspectives on globalisation and its prospects
LO3.
Understand and be able to critically evaluate debates over the dynamics affecting key issues in IPE
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz |
In-class quiz
|
21% |
In class quiz for each seminar, weeks 2-12 7/08/2025 - 23/10/2025 |
| Presentation |
Critique of media article - oral examination
|
14% |
8/09/2025 - 10/09/2025
Students will be allocated an individual timeslot in advance by the course coordinator. |
| Essay/ Critique |
Major Essay: The international political economy of... (2000 words)
|
35% |
15/10/2025 2:00 pm
Submit via Turnitin |
| Examination |
Centrally administered exam
|
30% |
End of Semester Exam Period 8/11/2025 - 22/11/2025 |
Assessment details
In-class quiz
- Identity Verified
- In-person
- Mode
- Written
- Category
- Quiz
- Weight
- 21%
- Due date
In class quiz for each seminar, weeks 2-12 7/08/2025 - 23/10/2025
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03
Task description
Reading the required texts in the course's reading list is essential for coming prepared to class and for success in POLS2402.
In each seminar, from weeks 2 to 12, you will be given 10 minutes to complete a short, handwritten, closed book quiz. The precise timing of the quiz during the seminar's 3-hour window may vary week-by-week.
In each quiz, in the first part, you will be asked to briefly define a key concept in IPE, based on one of the required readings for that week, as specified in the quiz paper. This part is worth a maximum 1 point. The second part of the quiz will test your comprehension of the concept, asking you a question that relates to the authors' use of the same concept in their text. This part is worth a maximum 2 points.
While there are 11 opportunities to take the quiz, only 7 will count towards your final mark, up to a maximum of 21%. We will select your top 7 results if you do more than 7 quizzes. Since this allows you to miss up to three quizzes, you will not be able to resit individual quizzes and no alternative assessment will be available. If you have a disability plan that prevents you from taking hand-written quizzes, please get in touch with the course's staff as soon as possible to find suitable arrangements. Special consideration for alternative assessment will only be given under highly unusual and well-documented circumstances, to students who are unable to attend more than three seminars, weeks 2-12. As there'll be only one opportunity to take an alternative test please let us know no later than 9 October and provide all the necessary documentation.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Students will be given 10 minutes to complete a hand-written, closed book quiz. Quizzes will be completed in-class and submitted immediately to the lecturer.
Deferral or extension
You cannot defer or apply for an extension for this assessment.
Since quizzes are completed in-class, there will be no late submission options. Students are also only required to take 7 out of 11 possible quizzes to obtain the maximum mark for this assessment item, providing them with some flexibility. Special consideration for alternative assessment will only be given under highly unusual and well-documented circumstances, to students who are unable to attend more than three seminars, weeks 2-12. As there'll be only one opportunity to take an alternative test please let us know no later than 9 October and provide all the necessary documentation.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Since quizzes are completed in-class, there will be no late submission options. Students are also only required to take 7 out of 11 possible quizzes to obtain the maximum mark for this assessment item, providing them with some flexibility. Special consideration for alternative assessment will only be given under highly unusual and well-documented circumstances, to students who are unable to attend more than three seminars, weeks 2-12. As there'll be only one opportunity to take an alternative test please let us know no later than 9 October and provide all the necessary documentation.
Critique of media article - oral examination
- Identity Verified
- In-person
- Mode
- Oral
- Category
- Presentation
- Weight
- 14%
- Due date
8/09/2025 - 10/09/2025
Students will be allocated an individual timeslot in advance by the course coordinator.
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03
Task description
Students will be required to take a short, in-person oral examination (5 minutes). They will be asked to provide short responses (1-2 minutes maximum) to questions testing their capacity to understand and critically evaluate an article from the financial press (from a list of media articles provided by the course coordinator in Blackboard), by applying the theoretical approaches taught in class.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
This is an oral examination, so no late submission is allowed.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 28 days. Extensions are given in multiples of 24 hours.
Students who are unable to make their alloted oral exam timeslot due to extenuating circumstances beyond their control, such as being ill, should approach the course coordinator as soon as possible with the relevant documentation. If the extension is approved an alternative day and time will be set for their make-up oral examination.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
Unless documentation is provided to explain lateness, a student that fails to turn up to their oral examination on time will forfeit 100% of the mark for this assessment.
Major Essay: The international political economy of... (2000 words)
- Mode
- Written
- Category
- Essay/ Critique
- Weight
- 35%
- Due date
15/10/2025 2:00 pm
Submit via Turnitin
- Other conditions
- Student specific.
- Learning outcomes
- L01, L02, L03
Task description
Please choose one commodity (defined as an item produced via human labour to be bought and sold or exchanged). This could be a finished or intermediate good, raw commodity, or a service. It could even be money itself.
Building on the theoretical approaches and materials provided in this course, address the following question in essay form: How is [your commodity] produced and sold, and why is it produced and sold in this way?
Elaborate in your analysis on one or more aspects shaping the production and exchange of [your commodity], such as the role of government and/or the state, corporate strategies, finance, labour, and tax. There is no expectation that you cover all of these angles. Focus on the one(s) you find most important and make sure you explain why. You must provide at least four direct quotes from the sources you use in the essay. When using non-scholarly sources, such as reports by international, governmental or industry bodies, they must be no older than 2023.
It is recommended that you discuss your chosen item with the course staff long in advance of the deadline. Past experience suggests this increases the likelihood of successful essay writing considerably. Consult the POLSIS essay guide for additional instructions and tips on essay writing.
This task has been designed to be challenging, authentic and complex. Whilst students may use AI and/or MT technologies, successful completion of assessment in this course will require students to critically engage in specific contexts and tasks for which artificial intelligence will provide only limited support and guidance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
To pass this assessment, students will be required to demonstrate detailed comprehension of their written submission independent of AI and MT tools.
Submission guidelines
Assignments for this course will be submitted electronically via Blackboard and using Turnitin.
In uploading an assignment via Turnitin you are certifying that it is your original work, that it has not been copied in whole or part from another person or source except where this is properly acknowledged, and that it has not in whole or part been previously submitted for assessment in any other course at this or any other university.
When you successfully submit your assessment to Turnitin after previewing the uploaded document (to make sure that you have chosen the correct file), you should see the “Submission Complete!” message. After this, a downloadable Digital Receipt will display on your Assignment Dashboard. It is your responsibility to download the Digital Receipt as proof of submission. Turnitin will not send this receipt to you automatically.
If you don’t see the downloadable receipt on your assignment dashboard, you should regard your submission as unsuccessful.
If the submission was not successful:
- Note the error message (preferably take a screenshot).
- Go to your assignment page and see if it is possible to submit again.
- If you cannot submit again, then email your course coordinator immediately.
Deferral or extension
You may be able to apply for an extension.
Unless an extension is granted, penalties for late submission apply. Students are penalised 10% of the maximum possible mark allocated for the assessment item for every calendar day that an assessment item is late.
Marks will be deducted each day for up to 7 calendar days, at which point the submitted item will not receive any marks unless an extension has been approved. Each 24-hour block is triggered from the time the submission is due.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
According to UQ policy.
Centrally administered exam
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 30%
- Due date
End of Semester Exam Period
8/11/2025 - 22/11/2025
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03
Task description
Students will be required to answer three of six questions in short essay form.
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | No calculators permitted |
| Open/closed book | Closed book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Description |
|---|---|
| 1 (Low Fail) |
Absence of evidence of achievement of course learning outcomes. Course grade description: None of the above criteria will have been met. This student will not have addressed the question, shown no or very little evidence of reading and minimal comprehension of the issues at hand. |
| 2 (Fail) |
Minimal evidence of achievement of course learning outcomes. Course grade description: None of the above criteria will have been met. This student will not have addressed the question, shown no or very little evidence of reading and minimal comprehension of the issues at hand. |
| 3 (Marginal Fail) |
Demonstrated evidence of developing achievement of course learning outcomes Course grade description: Falls short of satisfying all basic requirements for a Pass. The student will have demonstrated a minimal grasp of the chosen topic and will have made an effort to establish a single major argument for the essay. The student will have employed some research which correlated with the argument and will have made a visible effort to achieve adequate grammar, spelling and punctuation. Evidence of attempting to achieve a recognisable narrative flow should appear throughout the assignment. This student will have addressed the question, showing evidence of required research and a basic grasp of the issues at hand. |
| 4 (Pass) |
Demonstrated evidence of functional achievement of course learning outcomes. Course grade description: The student will have demonstrated an adequate grasp of the chosen topic and will have made a reasonable effort to provide evidence to support a visible argument. The student will have employed an adequate research base to support the argument and will have achieved a reasonable, if not completely coherent standard of grammar, spelling, and punctuation. A recognisable narrative flow should be sustained throughout the essay. This student will have answered the question, showing evidence of adequate research and a degree of understanding of the issues at hand. |
| 5 (Credit) |
Demonstrated evidence of proficient achievement of course learning outcomes. Course grade description: The student will have demonstrated a sound grasp of the chosen topic and will have addressed the argument by providing suitable evidence to support an argument. The student will have employed a comprehensive research base that directly relates to the topic though it may not completely support the argument and will have achieved decent levels of competence in grammar, spelling, punctuation and narrative flow. This student will have answered the question in a direct, well supported fashion, showing evidence of some wide reading and a reasonable understanding of the issues at hand. |
| 6 (Distinction) |
Demonstrated evidence of advanced achievement of course learning outcomes. Course grade description: The student will have demonstrated a very good grasp of the chosen topic and will have addressed the argument by providing a considerable amount of evidence to support a clearly stated argument. The student will have employed a reasonably extensive and well-organised research base to structure evidence in support of the argument and will have achieved a high level of competence in grammar, spelling, punctuation and narrative flow. This student will have answered the question in a direct, reasonably sophisticated fashion, employing wide research and showing a sound understanding of the issues at hand. |
| 7 (High Distinction) |
Demonstrated evidence of exceptional achievement of course learning outcomes. Course grade description: The student will have demonstrated a highly sophisticated grasp of the topic and will have succeeded in addressing the question by providing a high level of evidence to support a clearly stated argument. The student will have employed an extensive and well organised research base to structure evidence in support of the argument and will have achieved impeccable levels of grammar, spelling, punctuation and narrative flow. This student will have answered the question in a direct and elegant fashion, employing significant research and showing a deep understanding of the issues at hand. |
Additional course grading information
Other Requirements & Comments : Grades will be awarded on the following basis:
1.ﾠFailﾠ 1 - 19%
2. Failﾠ 20 - 44%
3. Failﾠ 45 - 49%
4. Passﾠ 50 - 64 %
5. Creditﾠ 65 - 74 %
6. Distinctionﾠ 75 - 84 %
7. High Distinctionﾠ 85 - 100 %
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
Word Length Penalty
Unless otherwise indicated, in the case of written submissions with a specified word count, you are given a +10% leeway on the upper word limit. If your written submission is over this leeway limit, it will attract a 10 percentage point penalty. For example, if your essay is 1,500 words, you may write up to 1,650 before attracting a word count penalty. If your essay exceeds the upper word limit, it will attract a 10% word count penalty. Therefore, if your essay is worth 40 marks, you will lose 4 marks from your allotted grade. Unless specified, penalties only apply to exceeding the word length, not for failure to write a sufficient amount.
Students should note:
• The Author-date in-text referencing system will count toward the word length;
• References in the Footnote referencing system will not count toward the word length. If you are using footnotes, any content included in footnotes beyond the specific text reference will count towards the word length.
Marking Criteria/Rubric
Marking criteria and/or marking rubrics are available in the ‘Assessment’ folder in Blackboard for this course.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Additional learning resources information
Essay Guide
The School of Political Science and International Studies Essay Guide can be downloaded from the School’s Student Support webpage.
The Guide sets out guidelines you should follow in preparing written assignments.
Essay Writing Assistance
The School of Political Science and International Studies schedules regular “drop-in” sessions designed to provide one-on-one advice and assistance in essay planning and writing.
There is no need to make an appointment and you are encouraged to bring your essay with you.
The day and time of these sessions will be finalized at the beginning of each semester and published on the Student Support webpage.
Student Services
Student services offer a variety of short courses during the semester which will help you improve your study, research and writing skills and thus your academic performance in this course.
Library Resources
UQ Library offers training in software, assignment writing, research skills, and publishing and research management.
The University’s library holdings for Political Science and International Studies are primarily located in the Central Library.
There is a help desk in the Library. Students are also welcome to contact the BEL/HASS Librarians for assistance.
Email: librarians@library.uq.edu.au
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (28 Jul - 03 Aug) |
Seminar |
Topic 1: Introduction to POLS2402 Learning outcomes: L01, L03 |
Week 2 (04 Aug - 10 Aug) |
Seminar |
Topic 2: Zero-sum or win-win ? In this week's lecture, we will introduce the two most influential theories of international political economy - liberalism and mercantilism. Both approaches are fundamentally interested in relations between states in the international political economy. However, while liberalism views the international political economy as a domain of potential collaboration and 'win-win', mercantilism emphasises competition and 'zero-sum' outcomes. These different perspectives underpin differing prescriptions for states and political leaders. While liberals promote international rules and institutions that are meant, not without controversy, to support the 'public good' of all states, mercantilists emphasise policies that provide national advantage. Learning outcomes: L01, L02, L03 |
Week 3 (11 Aug - 17 Aug) |
Seminar |
Topic 3: Exploitation in IPE: Marxism, Dependency, and Feminism In the third topic, will be introduced to three 'critical' IPE perspectives - dependency, Marxism and feminism. Each of these emphasise exploitation as an inherent, structural aspect of the contemporary international political economy, but views the question of exploitation differently. Whereas dependency emphasises the exploitation of 'underdeveloped' states and their societies by the rich states and their societies, Marxism focuses on exploitation of subordinate classes by the capitalist class, and feminism of women by men. Aside from criticising the more influential approaches discussed in Week 2, these approaches also problematise the idea that IPE is simply about interactions between states. Learning outcomes: L01, L02, L03 |
Week 4 (18 Aug - 24 Aug) |
Seminar |
Topic 4: Globalisation and Its Dissolution In this week, we will apply the theories introduced earlier to examine economic globalisation and its dissolution in recent years. Liberals have expected economic globalisation to generate shared interests among states in protecting economic openness. Globalisation's apparent dissolution, under intensifying nationalist challenges at home and geopolitical rivalry abroad suggests otherwise. We will use the theoretical perspectives we have learnt to interrogate explanations for globalisation's emergence and spread and for its more recent decline. Learning outcomes: L01, L02, L03 |
Week 5 (25 Aug - 31 Aug) |
Seminar |
Topic 5: Can the poor get rich? Economic development and global inequality In this week's lecture we will examine debates over development and inequality. We live in a world of stark material inequalities, but does it have to be so? Why are some societies rich and others poor? Is the world becoming more or less equal after decades of globalisation? Can the poor become rich or are they destined to remain poor, or at least poorer, than the rich? If they can become rich too, how? What are the conditions, policies and/or institutions that would help the poor become rich? Different theoretical perspectives provide different answers to these important questions. In particular, we will look at debates over the experience of East and Southeast Asia, arguably the only region in which several countries managed to transition from poverty to development. We will particularly examine China's spectacular rise in a few short decades from an impoverished backwater to one of the world's biggest and most technolgically advanced countries. Learning outcomes: L01, L02, L03 |
Week 6 (01 Sep - 07 Sep) |
Seminar |
Topic 6: International trade, investment and production In this week's lecture, we will examine trade, investment and production patterns under globalisation, as well as more recent changes as geopolitical competition intensifies. Liberals have since the eighteenth century exalted the benefits of 'free trade', based on the principle of 'comparative advantage', while mercantilists sought to harness trade instrumentally towards national development. But are these perspectives still relevant in a globalised economy? One of the most distinctive aspects of economic globalisation since the late 1970s has been the emergence and spread of complex cross-border 'global value chains', whereby different aspects and stages of the production of goods, and even some services, happen in multiple countries and jurisdictions. The majority of international trade today is not in complete goods and services sold on the open market, but within value chains, dominated by multinational corporations (MNCs). The iconic iPhone, for example, is assembled in China, and is hence labelled 'made in China'. In reality, however, workers in China only put together components made in several other countries, based on technologies developed in various locations, all under the watchful eye of Apple Inc., which directs and reaps the greatest value from this process. Now, however, economic nationalists are challenging the benefits of trade liberalisation and the international institutions that uphold it, like the World Trade Organisation. Tariffs are again rising globally, while governments are screening foreign investment to avoid undue foreign influence and interference. Powerful states are also seeking to weaponise global value chains, for example of key products like semiconductors, for geopolitical gain. In this week, we will critically interrogate liberal arguments in favour of economic liberalisation, and examine the implications of earlier processes of globalisation. We will also examine current trends away from globalised trade and production, and their implications. Learning outcomes: L01, L02, L03 |
Week 7 (08 Sep - 14 Sep) |
Seminar |
Topic 7: Money and the international monetary system: the end of US dollar hegemony? In this week's seminar, we begin our two-week deep dive into global finance by looking at money and the politics of the international monetary system. We all use money every day. Without money we'd be unable to feed, clothe and house ourselves, let alone pay for Netflix or a night out. Few, however, question what money is, and where it comes from. Fewer still question how the international monetary system works - what shapes exchange rates, and why the US dollar is accepted everywhere around the world, but not the NZ dollar, for example. We will look at the sources of the US dollar's hegemony, and at the ways in which the US government has attempted to weaponise it for geopolitical gain in recent years. We will also look at whether challenges are emerging to dollar hegemony as well as the limits to those challenges. Learning outcomes: L01, L02, L03 |
Week 8 (15 Sep - 21 Sep) |
Seminar |
Topic 8: Global Finance, Debt, and You The growth of financial markets has facilitated the availability of plentiful, and often cheap, credit to consumers, companies and governments. The result is a rapidly growing mountain of household and sovereign debt. We will begin the seminar by looking at the looming sovereign debt crisis affecting parts of the Global South. We will then look at finance and the 'everyday'. In developed countries in particular, many households have become reliant on credit for many activities, from paying for daily needs (credit cards), to retirement (superannuation), and of course buying their homes (mortgage). Why has global finance grown so fast over the past few decades? Was it inevitable? Who benefits and who loses? Is this trend sustainable, and if not, what can we do about it? Learning outcomes: L01, L02, L03 |
Week 9 (22 Sep - 28 Sep) |
Seminar |
Topic 9: Labour in the International Political Economy The esteemed economist Joan Robinson famously said that 'the only thing worse than being exploited under capitalism is not being exploited under capitalism.' By this she did not mean to deny the exploitation of workers in the capitalist system, but to acknowledge that in the absence of alternatives, not being exploited by capital consigns a worker, their family, and even entire economies to desperate poverty. In this week, we ask whether she was right, by examining the political economy of labour under globalisation (and whatever comes next). Many argue that the poor pay and conditions for workers in many developing countries should not distract from the fact that they would be worse off without the jobs they have, including in 'sweat shops'. The improving income of many workers in rapidly growing economies like China's and India's is used as evidence Others, however, point to workers' declining share of the national income in many developed countries and note the implications of the rising inequality associated with this trend on overall demand, and hence on the health of capitalism itself and of democracy in many cases. Feminist political economists show that poorly paid women workers and reproductive labour, which is often performed by women but ignored by economists, is critical for economic 'success stories' in globalised industries, supplying major corporations. Learning outcomes: L01, L02, L03 |
Mid Sem break (29 Sep - 05 Oct) |
No student involvement (Breaks, information) |
** Mid-semester break - no class ** Mid-semester break - no classes. |
Week 10 (06 Oct - 12 Oct) |
Seminar |
Topic 10: Climate Change and the Energy Transition Addressing climate change is fundamentally one of energy transition towards renewable, low or zero emission sources. In this seminar we will examine the energy transition. Liberals view carbon intensive energy use as a problem of 'market failure' and see various ways of incentivising businesses and individuals to move towards using less carbon intensive energy sources, but without discarding the benefits of markets. Mercantilists view 'green' energy sources as an opportunity for national development and empowerment. Can green capitalism, in its liberal or mercantilist variants, save the planet? Who are the winners and losers of the energy transition? Is it possible to meet emission reduction targets and prosecute the new Cold War against China at the same time? Learning outcomes: L01, L02, L03 |
Week 11 (13 Oct - 19 Oct) |
Seminar |
Topic 11: International taxation and tax havens One of the most significant aspects of globalisation has been the emergence of international taxation as an important consideration for wealthy individuals and especially multinational corporations. As economic activities increasingly transcended national borders and as financial markets were liberalised, it became increasingly possible to develop sophisticated accounting practices to reduce taxation in high-taxing jurisdictions, shifting income earned in high-taxing jurisdictions to low-taxing jurisdictions or even to secretive 'tax havens' to avoid paying tax altogether. Although offshore tax havens are often imagined to be exotic islands, populated by seedy Hawaiian-shirt-wearing, disgraced former bankers with a bad tan, in reality significant parts of major financial centres like New York, London, Hong Kong and Singapore, operate as offshore tax havens for residents of other countries, while island tax havens, like the Cayman Islands, are in reality an extension of major financial centres too. In short, the 'offshore' is an integral part of globalisation as we know it. Although causing international tensions since at least the 1990s, the 2008 global financial crisis pushed international taxation issues into the headlines. Since, many politicians have proclaimed 'unfair tax competition' over, only to see it survive and thrive. For some, tax competition is positive, pushing down taxation rates in developed countries and hence promoting investment and economic activity. For others, it is another way in which the rich and powerful avoid paying their 'fair share', causing austerity and the decline of public services. In this seminar we will examine the politics of international taxation and interrogate some of the claims made by proponents and detractors. We will especially seek to examine why offshore financial centres continue to exist, and what their implications are for the distribution of power and wealth in the contemporary global political economy. Learning outcomes: L01, L02, L03 |
Week 12 (20 Oct - 26 Oct) |
Seminar |
Topic 12: Geoeconomics and the ‘Second Cold War’ Some have argued that we have now moved from an era of economic globalisation, with its free markets and deeper global economic integration, into a new era of geopolitical rivalry - now often called the 'second' or 'new' Cold War - notably between the US and China. Since open warfare has become less desirable than in earlier periods, many observers now emphasise the rising importance of 'geoeconomics', often defined as states exercising power, and fighting each other, through economic means. For others, however, the impact of decades of globalisation remains important. The emergence of thick cross-border networks in many areas - finance, cybersecurity, production - is not just constraining states, but has fundamentally reshaped the form that geoeconomics assumes. In this seminar, we will examine these claims, and examine what the re-emergence of inter-state rivalry mean for the world economy. Learning outcomes: L01, L02, L03 |
Week 13 (27 Oct - 02 Nov) |
Seminar |
Topic 13: The End of the Neoliberal World Order? In this final seminar, we will be looking back at what we've learnt throughout the semester, and asking what next for the world economy. Is this the end of the neoliberal world order? Is it just mutating? Or is something completely different about to emerge? Students will also be able to ask questions ahead of the exam. Learning outcomes: L01, L02, L03 |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments for Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.