ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title INTERNATIONAL POLITICAL ECONOMY
Code ECON325
Coordinator

 
Year CATS Level Semester CATS Value
Session 2024-25 Level 6 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
ECON223 MACROECONOMICS I; ECON254 THEORY OF THE FIRM; ECON222 MICROECONOMICS 2 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

   5

       29
Timetable (if known)              
Private Study 121
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment 3 Standard UoL penalty applies for late submission. Assessment Schedule (When) :Semester one  0    50       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment 2 Standard UoL penalty applies for late submission. Assessment Schedule (When) :Semester one  0    25       
Assessment 1 Standard UoL penalty applies for late submission. Assessment Schedule (When) :1  0    25       

Aims

This module aims to familiarise students with rational choice and public choice theories and arguments, and with their applications in open economies and international political economy; theoretical concepts such as the Coase theorem, the Arrow impossibility theorem, and economic populism; key concepts of the New Institutional Economics and related applications to the theory of the firm; a modern economics’ view of globalisation; and the application of international political economy concepts to Latin America.

The module also aims to deepen students' understanding and awareness of the meaning and importance of national cultures, the relationship between rent seeking and protectionism; corruption; essential aspects of multinational corporations, foreign direct investment, and regulation; specific characteristics of the Argentine and Mexican economic policies and institutions and Chilean ‘exceptionalism’; and the possibility of apply ing ideas developed in this module to other geographical, national, regional and historical contexts.

Learning Outcomes

(LO1) Students will understand the concepts of rational choice and public choice in order to study aspects of a globalised world, which is in key respects different from that of elementary textbook models

(LO2) Students will gain a deep understanding of international business and the international political economy, in a way compatible with rigorous approaches to economic analysis

(LO3) Students will become familiar with theoretical concepts from rational choice and public choice theories, with emphasis on theories and models which apply to open economies in a context of globalisation

(LO4) Students will be able to apply these theoretical concepts in order to study some aspects of the political economy of international business.

(LO5) Students will be able to apply theoretical concepts to a Latin American case study.

(LO6) Students will be able to produce and deliver a coherent presentation.

(S1) Adaptability

(S2) Problem-solving skills

(S3) Numeracy

(S4) Teamwork

(S5) Organisational skills

(S6) Communication skills

(S7) international awareness

(S8) Ethical awareness

Teaching and Learning Strategies

Teaching Method 1 - Lecture
Description:
Attendance Recorded: Not yet decided

Teaching Method 2 - Tutorial
Description:
Attendance Recorded: Not yet decided

Syllabus
 

THE CONCEPTUAL FRAMEWORK:

Introduction;

The Coase Theorem;

Rent seeking and protectionism; interest groups and lobbying;

Institutions and culture;

Bureaucracy, dictatorship;

The Arrow impossibility theorem.

POLITICAL ECONOMY OF INTERNATIONAL BUSINESS:

Globalisation;

Multinational corporations;

Foreign direct investment;

Regulation;

LATIN AMERICA AS A CASE STUDY:

Colonial roots;

Conversion to free-market, open-economy policies;

Argentina and Mexico;

Recent economic success in Chile;

Rent seeking in contemporary Chile.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.