POLI/
Bill Newmann
This exam is non-cumulative. Questions will refer only to items on this review sheet, to the lectures given since the second exam, and to the readings scheduled for the third exam as indicated on the syllabus.
The exam format will be the same as the previous exam. There will be 70-75 questions. You will have the entire class period to take the exam.
I’m not sure how much of the Environment and health we will get to (these terms are at the end of the review sheet). If we do not cover that material, I will eliminate it from the review sheet.
List of Terms:
Theories of International Political Economy:
Questions:
what makes a nation wealthy?
what is the proper role of government in economic activity?
*Economic Liberalism
*Adam Smith
*imports
*exports
*tariff
*quota
*non-tariff barriers
Smith's criticism of tariffs and quotas
Market forces
Invisible Hand
*comparative advantage
Free Trade (laissez-faire economics)
MNCs?
*Economic Nationalism (sometimes called Mercantilism)
*Nationalist's views of free trade
Alexander Hamilton
Industrial Power and National Power
National Power and
Friedrich List
Mature industries vs. infant industries
*Protectionism
Free trade among equals
MNCs?
Economic Structuralism
International economic division of labor
Marxism
Karl Marx and Fredrich Engels
Exploitation
Workers Revolution
Communism
Lenin
Imperialism
Command Economy
Soviet/Chinese Communism in practice
Northern/Industrial Economics
Hegemonic Stability Theory
hegemonic stability theory and realism
Interwar period and lack of leadership
The Great Depression
Importance of economic leadership
Driver of the world economy
Aspects of American Hegemony
Pax Americana
1.*Exchange Rates -- Bretton Woods
2.*General Agreement on Tariffs and Trade
*World Trade Organization
*Kennedy Round
*Uruguay Round
3. *International Monetary Fund and Balance of Payments
who contributes
conditionality
4. *World Bank -- IBRD
The Developing World:
Realities of Developing World
Colonialism
Wars for independence
Infrastructure
Political Stability
Military rule
Attempts at creating wealth in the developing world
Failure of other approaches
1. Modernization
2. Nationalization
3. Marxism
4. *Group efforts
*OPEC
5. *East Asian Strategy/East Asian Miracle
Four Tigers (Mini-Dragons)
Their strategy
Government-business partnership
Open up the economy to the world trading system
*Foreign Direct Investment (FDI)
*Export Power
Export processing zones
*Education/managerial skills
*acceptance of globalization
*
*Deng Xiaoping
*Manmohan Singh
How far
*outward vs. inward approach to economics
The Future:
*Some assumptions about the changes in the world economy
Importance changes in the world economy: (all of these are touched upon in Friedman)
1. *Collapse of
*Global consensus on capitalism
2. *Success of East Asian model
3. *Information/Technology Revolution
*Brainpower/transnationalism/globalization
4. US not in decline; US system not in decline
5. Bottom Billion thesis
6. Next Convergence Idea
7. *Regionalism:
*Each Bloc in terms of level of integration and political or economic character
A. *North American Free Trade Agreement (NAFTA)
*Western Hemispheric Free Trade Zone:
*FTAA (Free Trade Area of
the
B. *APEC
C. *European Union
*
*Institutional structure
*Group of 8
*Group of 20
Globalization
*Pros and Cons of globalization (see the PPT slides)
*Key controversies: (all of these are touched upon in Friedman)
*Rich get richer, poor stay poor?
*Cultural imperialism
*Loss of governmental power to control their economies
*Labor standards
*the environment
Environment
Global Commons
Economic activity and environmental
damage
rejection of slower economic growth or zero economic
growth
sustainable development
The three debates: who vs. who
Climate Change
Greenhouse gases
Kyoto Protocol
Which nations contributed to
greenhouse gases in the past?
Which nations will produce them in
the future?
Intergovernmental Panel on Climate
Change
Human Rights
*Universal Declaration of Human
Rights
*Responsibility to Protect
*International Criminal Court
Universal Morality vs. Cultural
Relativism
Where there is consensus
Where there is not
consensus.
Terms
from Friedman, The World Is Flat
*technology and globalization leveling the playing field (meaning of the world is flat)
*outsourcing
to
*how technology changes the nature of work
*a revolution in economics
*the aspect of speed – quickening the pace of change
*Flatteners:
1. *Tipping the scales away from authoritarian governments toward liberal-democracy (collapse of communism)
2. *The internet
3. *How products can be made anywhere now – location is less important
4. *”Self-organizing collaborative communities” – spontaneous cooperation through which people create things
5. *Outsourcing
6. *Offshoring
*
7. *supply chaining
*Wal-Mart (pros and cons)
8. *Insourcing
9.* Informing – the explosion of available information
10*The “steroids” digital, mobile, wireless
*Triple convergence
*multiple identity disorder
*Intellectual property
*Who does not benefit?
1. *Those who are too sick
2. *Those who are disempowered
3.*Those who are too frustrated
4. *Those who can’t get sources of energy