Spring 2008

Economics of Globalization

Listed in: Economics, as ECON-38


A. Erinc Yeldan (Section 01)


The course focuses on the most recent wave of globalization in the late 20th century and how it reflects a new stage of capitalism. We seek to identify the agents of this process, particularly in the context of the strategic interests of transnational corporations and of international finance capital. We also study the debates surrounding the new role of the state and how these ideas have been shaped by concepts such as national sovereignty and the IMF and World Bank conditionality, as well as by the neoliberal policy norms such as fiscal austerity, central bank independence, inflation targeting, freely floating exchange rates, flexible labor markets, and the "credible" state. Finally, we focus on the concept of "economic development" and regard it as a unique phase of twentieth century capitalism. Classic theories of development will also be studied with references to the structuralists, Marxists, the dependency school, and to the world-systems paradigms. Requisite: Economics 11. Limited to 30 students. Second semester. Visiting Professor Yeldan.