Global Political Economy (5 cr)

Objective

Upon completing this course, the student
• understands the perspectives of different socioeconomic groups, and their significance
• understands the processes of globalisation and regional reconfiguration
• understands reasons for conflict and cooperation in the global political economy
• recognises the significance of geography in economic decision-making and relationships.

The student will be able to
• apply sophisticated theoretical and conceptual analysis to current problems
• construct and evaluate scenarios
• conduct comparative analysis of national economic systems
• relate local phenomena to international and global developments.

Content

• Globalisation in practice
• Theories of global political economy
• Trade in theory and practice
• Finance in the global political economy
• The global corporation
• Economic development in theory and practice
• Ecology and sustainability
• Ethics and the legacy of colonialism
• Global value chains

Location and time

Thursday, 08:15 - 11:00, A216, Myyrnäki campus.

Materials

The lecturer will provide reading materials for each topic featured in the lecture programme.

Those wishing a suitable textbook are recommended either or both:

Roy Smith, Imad El-Anis, Christopher Farrands, "International Political Economy in the 21st Century: Contemporary Issues and Analyses", 2nd ed. London: Routledge, 2018.

David N. Balaam & Bradford Dillman, "Introduction to International Political Economy", 7th ed., London: Routledge, 2019.

Teaching methods

Lectures will take place each week, unless otherwise advised (e.g., for in-class tests).

Lectures feature a mix of methods, including discussion and the use of video materials.

Employer connections

Strategic analysis of global, regional and local phenomena and contexts
Supply chain management
Scenario planning
Risk analysis

All these enable the development of skills required for senior managerial positions.

Exam schedules

There are no formal examinations in this course. Instead there are three individual assignments which are scheduled according to the progress of the lectures. More details about these will be provided during the course.

International connections

The greater use of international information sources, the more successful will be the experience of the course.

Student workload

As this course is worth 5 ECTS, students should expect to work at least 130 hours, including the 45 hours allocated to class time. Reading is a major part of the learning experience, and students should be prepared to spend significant time researching topics of particular interest to them, within the context of the course.

Content scheduling

A full lecture programme is featured in the Course Guide, which is published at the beginning of the semester.

Further information

As stated above, regular attendance is strongly recommended. Classroom discussion and debate add significantly to the learning experience, and the lectures provide a strong structure for learning.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student
• has achieved the objectives of the course to a satisfactory level
• is able to identify, define and use concepts and models in the subject area of the course
• understands the conditions and principles of the development of expertise.

Assessment criteria, good (3)

The student
• has achieved the objectives of the course well, although there are still areas where knowledge and skills need to be improved
• has a good understanding of the concepts and models of the subject matter of the course and is able to carry out a reasoned analysis
• is able to apply what they have learned in leisure, learning and working life situations
• understands the importance of expertise in business and is able to analyse their own expertise.

Assessment criteria, excellent (5)

The student
• has achieved the objectives of the course with excellent marks
• has an excellent command of the concepts and models of the subject matter of the course
• is able to analyse clearly and reasonably and propose practical development measures
• has a good ability to apply what they have learned in leisure, learning and working life situations
• is able to analyse expertise in business and their own development towards expertise.

Assessment criteria, approved/failed

The student
• has achieved the objectives of the course to a satisfactory level
• is able to identify, define and use concepts and models in the subject area of the course
• understands the conditions and principles of the development of expertise.

Assessment methods and criteria

The grading scale employed in the course is the standard Metropolia grading scale:

Grade Percentage/points Explanation

5 90 – 100 Outstanding performance: not only fulfils all standard requirements but demonstrates originality and imagination

4 80 – 89 Excellent performance, fulfilling all tasks in an appropriate manner

3 70 – 79 Strong performance, showing strong understanding of basic concepts and good grasp of techniques, but with certain minor problems still requiring further attention

2 60 – 69 Good performance, demonstrating basic grasp of concepts and techniques but less adept at more advanced application of these

1 50 – 59 Adequate performance, showing just enough understanding of the subject to merit a pass grade but requiring greater effort to achieve a more satisfactory result

0 0 – 49 30 – 49: insufficient to pass but capable of achieving a more satisfactory result if greater effort is made
0 – 29: a result indicating a significant lack of effort on the part of the student, and a clear signal that major improvements are necessary in the organisation of study time

Qualifications

Economics or equivalent competences

Objective

Upon completing this course, the student
• understands the perspectives of different socioeconomic groups, and their significance
• understands the processes of globalisation and regional reconfiguration
• understands reasons for conflict and cooperation in the global political economy
• recognises the significance of geography in economic decision-making and relationships.

The student will be able to
• apply sophisticated theoretical and conceptual analysis to current problems
• construct and evaluate scenarios
• conduct comparative analysis of national economic systems
• relate local phenomena to international and global developments.

Content

• Globalisation in practice
• Theories of global political economy
• Trade in theory and practice
• Finance in the global political economy
• The global corporation
• Economic development in theory and practice
• Ecology and sustainability
• Ethics and the legacy of colonialism
• Global value chains

Qualifications

Economics or equivalent competences