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Regular version of the site

International Political Economy

Academic Year
Instruction in English
ECTS credits
Course type:
Compulsory course
4 year, 3 module


Course Syllabus


As we live in a globalising and increasingly interdependent world, understanding of the roles and behaviour of markets, states and institutions, and civil society is vitally important. It is believed that International Political Economy (IPE) provides a solid foundation for those who are attempting to comprehend the above mentioned roles and behaviour, and key regional and global issues that will affect everyday life of individuals. The IPE is an interdisciplinary academic field within international relations which draws inputs from international politics, international economics, cultural studies, and history. This course aims to familiarize students with the theories and dynamic linkages among markets, states and institutions, and civil society in the regional and global context. The course covers major theories, concepts and issues of IPE including, international institutions, international trade, international finance, international development, and consequences and controversies of globalisation.
Learning Objectives

Learning Objectives

  • Students learn how to formulate coherent, comprehensive, and informed positions on problems of global politics and world economy.
  • The students will be introduced into the main theories (mercantilism, protectionism, liberalism, Marxism) and concepts of international political economy, basic concepts in the field of economics, world trade, and world finance
  • Students will acquire skills of the information analysis in the field of international political and economic relations
Expected Learning Outcomes

Expected Learning Outcomes

  • Indicates the principal actors and their roles in International Relations
  • Explains the main approaches to International Relations
  • Explains t the chief International Political Economy theories and major concepts of International Political Economy
  • Explains political regulation of international trade
  • Explains the term of the Globalization and analyses its dimensions
  • Explains positive and negative impact of globalization
  • Analyses the role of state and non-state actors in IPE
  • Gets acquainted with the basics of the political analysis of the world economic processes.
  • Provides a general overview of the development of the main processes and developments in the international political economy in the first half of the 20th century and the 21st century.
  • Acquires a broad understanding of the development of the world financial system.
  • Explains Russia’s interest in trade, reforming the world financial order and forming the local markets
  • Determines and analyses the political reasons and factors behind the energy wars
  • Explain the link between resource abundance and economic growth.
  • Reflects on the recent political conflicts between the West (US, the EU) and Russia
  • Understands how sanctions can be used an instrument of foreign policy.
  • Gives the isolationist and geopolitical explanations of Regional Economic Associations
  • Analyzes the main types of regionalism
  • Knows international organisations and their role in energy conflicts in the modern world.
  • Reflects on the impact of energy policies on the global climate change.
Course Contents

Course Contents

  • Introduction.
    What is International Relations & Why do we study it? Actors, States and Nations. Approaches to International Relations: Realism , Constructivism, Liberalism. Conflict: Types of Conflict in IR , Causes of War , Security Alliances , Ethnic Conflict, Terrorism, Peace Building. Cooperation & World Order: United Nations, Regionalism , European Union , NATO, Regional organizations, International Law.
  • International Political Economy.
    IPE theory and method, Major Concepts of IPE: Liberalism, Economic Nationalism, Critical Theories.
  • The Evolution of the World Economic System.
    The main problems of the international political economy in the second half of the 20th century - beginning of the 21st century. The Second World War and post-war world order. The Bretton-Woods system. The first integration groups. Oil as a factor of the world economy. Developed and developing countries in the 20th century. Capitalist and socialist economic systems. Post-industrial development of the global economy.
  • World Financial System. Origins of International Currencies and International Financial Systems.
    The evolution of the world financial system. International organizations (International Monetary Fund, World Bank, WTO).
  • Structures, issues and actors in International Political Economy. Wrap up
    1. State and non-state actors in IPE. 2. International Organizations such as actors of IPE. 3. NGO’s. 4. Structures and key issues of IPE. 5. Wrap up.
  • International Trade. Political regulation of International Trade. Sanctions.
    International Trade and its Effects; The economics of trade; Comparative Advantage; The economics of trade protection; Tariffs and quotas; International political or economic factors; International politics and institutions; Issues with free trade; Protection vs. trade liberalization; International institutions, unilateralism, and regionalism.
  • Globalization in international political economy
    1. Globalization and its dimensions. Four perspectives on globalization. 2. Opposing tendencies in globalization. 3. Concepts of the globalization. 4. Financial, economic, technological, political, cultural, ecological and geographical globalization. 5. Positive and negative impact of globalization
  • Regionalism and Issues of development.
    Isolationist and geopolitical explanations of Regional Economic Associations. Types of regionalism. Regional institutions. Economic policies of ddvelopment.
  • Sanctions as an Instrument of Foreign Policy
    International coercive sanctions. Success and failure of sanctions. The effects of sanctions on democratisation. Sanctions and human rights. Sanctions and global political conflicts. The recent "war of sanctions" between the West (US; EU) and Russia.
  • Global Energy Policy Perspectives
    International energy organizations. Oil and gas, OPEC. The resource curse. Energy, environment, and climate policy in the modern world. Climate change. Energy wars and global political conflicts.
  • Russia’s interests in the world political-economic system (structured discussion).
    Russia’s trade interests. Russia’s interests in reforming the world financial order. Russia’s regional interests in forming the local markets.
Assessment Elements

Assessment Elements

  • non-blocking Active participation in class discussions
  • non-blocking Quizzes/tests
  • non-blocking Group presentations
  • non-blocking Final test
    Due to the epidemiological situation, the final test will be held in an online format!
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.2 * Active participation in class discussions + 0.3 * Final test + 0.3 * Group presentations + 0.2 * Quizzes/tests


Recommended Core Bibliography

  • Brands, H., & Gavin, F. J. (2020). 7. Global Climate and Energy Policy after the COVID-19 Pandemic: The Tug-of-War between Markets and Politics. In COVID-19 and World Order : The Future of Conflict, Competition, and Cooperation. Johns Hopkins University Press.
  • Broome, A. (2014). Issues and Actors in the Global Political Economy. [N.p.]: Palgrave Macmillan. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1522966
  • COHEN, B. J. (2007). The Transatlantic Divide: Why are American and British IPE So Different?
  • Diebold Jr., W. (1985). ECONOMIC SANCTIONS RECONSIDERED: HISTORY AND CURRENT POLICY (Book). Foreign Affairs, 64(2), 365. https://doi.org/10.2307/20042595
  • Gilpin, R. (DE-576)161117015. (2001). Global political economy : understanding the international economic order / Robert Gilpin. Princeton, NJ [u.a.]: Princeton Univ. Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.089772180
  • Gilpin, R., & Gilpin, J. M. (2001). Global Political Economy : Understanding the International Economic Order. Princeton, N.J.: Princeton University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=340193
  • Global Political Economy : Contemporary Theories Ronen Palan
  • Goldthau, A. (2012). A Public Policy Perspective on Global Energy Security. International Studies Perspectives, 13(1), 65–84. https://doi.org/10.1111/j.1528-3585.2011.00448.x
  • Grauvogel, J., & von Soest, C. (2014). Claims to legitimacy count: Why sanctions fail to instigate democratisation in authoritarian regimes. European Journal of Political Research, 53(4), 635–653. https://doi.org/10.1111/1475-6765.12065
  • Mark Daniel Jaeger. (2018). Coercive Sanctions and International Conflicts : A Sociological Theory. Routledge.
  • Paul Langley. (2002). World Financial Orders : An Historical International Political Economy. Routledge.
  • Rethinking Global Political Economy : Emerging Issues, Unfolding Odysseys Burch, Kurt; Denemark, Robert A.;and more Routledge 2003
  • Ross, M. L. (2014). What Have We Learned about the Resource Curse?
  • Seabrooke, L., & Young, K. L. (2017). The networks and niches of international political economy. https://doi.org/10.1080/09692290.2016.1276949
  • Smith, A. (2013). Wealth of Nations. Hertfordshire [England]: Wordsworth Editions. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1023596
  • The Emergence of the Global Political Economy. William Thompson and Jeremy Black
  • Walt, S. M. (1998). International relations: One world, many theories. Foreign Policy, (110), 29. https://doi.org/10.2307/1149275

Recommended Additional Bibliography

  • David Lektzian, & Mark Souva. (2007). An Institutional Theory of Sanctions Onset and Success. Journal of Conflict Resolution, 6, 848.
  • Goorha, P. (2006). The Political Economy of the Resource Curse in Russia. Demokratizatsiya, 14(4), 601–611. https://doi.org/10.3200/DEMO.14.4.601-611
  • Palan, R. (2013). Global Political Economy : Contemporary Theories. New York: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=573557
  • The Palgrave Handbook of Contemporary International Political Economy edited by Timothy M. Shaw, Laura C. Mahrenbach, Renu Modi, Xu Yi-chong. (2019). Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edswao&AN=edswao.51626463X