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Prof Jeffrey Chwieroth CBG.10.12

This course is available on the BSc in International Relations, BSc in International Relations and Chinese, BSc in International Relations and History and BSc in Politics and International Relations. This course is not available as an outside option. This course is available with permission to General Course students.

This course has a limited number of places (it is capped).

Some background knowledge of international political economy, such as that provided in IR206 International Political Economy, will be useful to students taking this course.

This course is designed as a component of the study of a global system in which the management and mismanagement of money and finance are matters of fundamental consequence for international relations. It is intended to be of particular relevance to students specialising in international political economy. This is a course in applied international political economy theory. It deals with the basic concepts regarding the creation, use and management of money and finance in the global system. Students are then introduced to the political foundations of international monetary governance. Issues covered include the use of national currencies as international money, the politics of exchange rate adjustment, the operations of banks and other institutions in international money and capital markets, the evolution of global financial markets, the relationship between states and markets in the arena of global finance, international monetary cooperation, and the choices of monetary and financial policies open to developed and developing countries. The course emphasises that contemporary issues, such as international financial crises, international financial regulation and the politics of IMF conditionality, are best understood in a broader theoretical and analytical context.

This course is delivered through a combination of classes and lectures totalling a minimum of 20 hours across Autumn Term. Students on this course will have a reading week in Week 6, in line with departmental policy.

Students will be expected to sit a mock e-Exam in the AT.

No one book covers the entire syllabus, but the following general works provide a useful introduction:

• B Eichengreen, Globalizing Capital (2019);
• T Porter, Globalization and Finance (2005);
• D Andrews (ed), International Monetary Power (2006);
• J Frieden, Currency politics: the political economy of exchange rate policy (2015);
• E Helleiner, The status quo crisis: global financial governance after the 2008 meltdown (2014);
• C. Norloff, America's global advantage: US hegemony and international cooperation (2010);
• B Cohen, Currency power: understanding monetar rivalry (2015)
• J Chwieroth and A Walter, The Wealth Effect (2019)

Exam (90%, duration: 2 hours) in the January exam period.
Class participation (10%) in the AT.

The exam will be an on campus 'e-Exam'.