The United States and China are using trade and investment bans on advanced technologies’ critical inputs, supply chains, and investment to advance geopolitical and economic hegemony. Western countries use sanctions on Russian energy, foreign reserves, and bank payments to reduce Russia’s capacity to pursue its war on Ukraine. In response, Russia weaponises energy exports to Europe and blocks cereals exports to emerging and developing countries. These practices are not new. Economic flows have always been used as alternatives or complements for direct military instruments. Global governance keeps on finding ways to prevent crises and mitigate their consequences. 

Building on the instructor’s first-hand experience in European and global economic governance and academic background, and on everyone’s knowledge and expertise, we will rigorously review the political economy and institutional framework of global trade and economic governance and gain awareness of behind-the-scenes action. We will critically assess current and past trends and challenges related to international trade and economic flows and consider foreseeable challenges. We will address topics at the intersections of trade and investment, finance, taxation, development, food and health, and geopolitical crises. We will examine the basic blocks of the global trade and economic governance, including preferential agreements (bilateral and plurilateral arrangements, currency and economic unions), as well as the multilateral institutions, in particular the World Trade Organization (WTO), other international financial institutions, and the G20 and other global fora. We will then use the acquired insights to assess the ongoing and predictable governance reforms.

The course is aimed at interested students from different backgrounds and is designed with this diversity in mind. Diversity will enrich the perspectives and understanding of us all. All students are expected to actively contribute to class debates and group work. 

The course comprises 12 weeks of lectures and student research, simulations, presentations, and discussions.

Evaluación

Final grades will be determined based on the following criteria:

• Class participation and use of resources: 30% 

• Individual and group work: Critical essays, simulations, and class presentations and discussions: 40%.

• Final exam: 30%