Professor Andres Velasco

This course is available on the MPA Dual Degree (LSE and Columbia), MPA Dual Degree (LSE and Hertie), MPA Dual Degree (LSE and NUS), MPA Dual Degree (LSE and Sciences Po), MPA Dual Degree (LSE and Tokyo), MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MPA in Social Impact, Master of Public Administration and Master of Public Policy. This course is available with permission as an outside option to students on other programmes where regulations permit.

The expectation is that students will have previously taken PP440 and PP455 or other equivalent courses. Students that have not taken PP440 and PP455 will require permission from the course lecturer to attend the course.

Over the past two centuries, the global economy has become increasingly interconnected.  This course studies the policy implications of this globalization.  It considers the causes and consequences of increasing international economic integration, focusing particularly on the challenges and opportunities that globalization creates for policy makers.  Key areas covered include: international trade, innovation and growth, migration and wages, international capital flows, borrowing and adjustment in the world economy, monetary and exchange rate policy, and financial crises.  The course builds on the knowledge developed in PP440 and PP455.

20 hours of lectures and 10 hours of seminars in the LT.

The formative coursework will comprise two graded problem sets. The formative coursework will take place throughout the term.

There is no single textbook that includes all the material covered in this course.  Lectures and readings will primarily focus on journal articles.  Three books that will be used during the course are:

Krugman, P.R., Obstfeld, M and Melitz, M.J. International economics: theory and policy 11th edition (Boston: Pearson, 2018)

Rodrik, D., The globalization paradox: why global markets, states and democracy can't coexist (Oxford: Oxford University Press, 2011)

Irwin, D., Free Trade Under Fire (Princeton: Princeton University Press, 2015)

Exam (50%, duration: 2 hours, reading time: 15 minutes) in the summer exam period.
Coursework (50%).

The 50% coursework will consist of two graded problem sets worth 25% each.