Political Science 274/ Economics 272: International Political Economy

Fall 2004, Tuesday-Thursday, 9:40-10:55

Randall Stone Office Hours: Tues.-Thurs. 11:00-12:00

Associate Professor of Political Science Harkness Hall 336

University of Rochester Office: 273-4761

http://www.rochester.edu/college/psc/people/faculty/stone.php

randall.stone@rochester.edu

Purpose of the course: As the world economy becomes increasingly integrated, local politics takes on global dimensions and international politics assumes new local significance. This course explores the consequences of international trade for domestic political alignments, the role of domestic institutions in promoting the rise and fall of nations, and a variety of other linkages between domestic and international political economy. Major topics covered include: trade; monetary and fiscal policies; international debt and economic adjustment; international integration in the European Union; international environmental politics; the role of international institutions in promoting international cooperation; and the transition to market economies in post-Communist countries. Class format: lecture and discussion.

Course Requirements: This is a heavy reading course, and it is essential to complete the required reading. A portion of each session will be devoted to discussion, and students will be expected to come to class prepared to discuss the readings for the day listed on the syllabus. There will be a midterm exam on Thursday, October 21, a final exam, and two short (3-page) papers, due at 4:00 pm on Tuesday, September 28 and Thursday, November 18. Grading will be as follows: 50% final exam, 20% midterm, 10% each paper, and 10% class participation.

Writing Credit Requirements for Political Science: In addition to the regular requirements, students registered for PSC 274W write a term paper (15-20 pages) that uses primary sources and/or data to make a theoretical argument. A draft of the paper is due at 5:00 pm on Weds., November 3, and the final paper is due on December 10 at 5:00 pm. Grading will be as follows: 25% final exam, 25% term paper, 20% midterm, 10% each short paper, and 10% class participation. This paragraph does not apply to students registered for ECO 272W.

Short Paper Topics: Write a critical review, as a social scientist, of one of the books assigned for the course. Make a clear argument and defend it with appropriate citations and examples. Above all, be a tough critic. A good social scientist can always find something to criticize. Do NOT summarize the author's position; you can assume that the professor has read the book. The first paper may be on the books by Rogowski or North & Thomas; the second paper may be on the books by Stone or Stiglitz.

Financial Times: In addition to other assignments, students are expected to read the Financial Times, a British newspaper, on a daily basis. It is available at a reduced one-semester subscription rate through the professor. Exams will assume familiarity with current events covered in the FT.

Readings: All of the readings are on reserve. In addition, the following books have been ordered at the bookstore, and are strongly recommended for purchase:

Rogowski, Ronald. Commerce and Coalitions: How Trade Affects Domestic Political Alignments. Princeton: Princeton Univ. Press, 1989.

North, Douglass C. and Robert Paul Thomas. The Rise of the Western World: A New Economic History. Cambridge: Cambridge Univ. Press, 1973.

Keohane, Robert O. After Hegemony: Cooperation and Discord in the World Political Economy. Princeton: Princeton Univ. Press, 1984.

Oye, Kenneth. Economic Discrimination and Political Exchange: World Political Economy in the 1930s and 1980s. (Princeton: Princeton Univ. Press, 1993).

Stiglitz, Joseph E. Globalization and its Discontents. (New York: Norton, 2002).

Stone, Randall W. Lending Credibility: The International Monetary Fund and the Post-Communist Transition. (Princeton: Princeton University Press, 2002).

Luterbacher, Urs, and Detlef F. Sprinz, eds.. International Relations and Global Climate Change. (Cambridge: MIT Press, 2001).

Course Outline:

PSC 274, International Political Economy

Tuesday, September 7: International Political Economy and Contemporary Paradigmatic Debates

Part I: The World Economy and Domestic Politics

Thursday, September 9: Comparative Advantage and International Trade

Rogowski, Ronald. Commerce and Coalitions: How Trade Affects Domestic Political Alignments. Princeton: Princeton Univ. Press, 1989. Chpts. 1-2.

Thursday, November 4: Strategic Trade, the Developmental State, and Adjustment