POLITICAL ECONOMY OF GLOBALIZATION

The course aims to provide the basic theoretical and methodological knowledge of international trade problems and policies. A special emphasis will be given to the environmental impact of globalization, especially in terms of pollution and climate change. Globalization has changed dramatically the world as it was at the beginning of the last century, after the two World Wars. International trade in goods and services has expanded rapidly over the last 50/60 years, thanks to the reduction in trade barriers and shipping costs, the outsourcing of production activities and improvements in communication technologies. By increasing the exchange of products, technological advances, and information, globalization may bring benefits in terms of wealth production, economic growth and improvements in the overall well-being for all involved countries. However, it also creates new risks in terms of unequal and unsustainable development paths. Richer countries tend to benefit relatively more than developing countries; larger corporations, which have resources and infrastructure to operate in many different countries, tend to benefit more compared to small local businesses. Further, the larger international mobility of goods, services and people may seriously impact on the environment and on our ability to comply with the mitigation efforts that are required to limit the global average temperature increase and the negative effects of climate change. The course will provide a broad outlook of all these issues and of the interconnections among them.

No specific requirements

- Knowledge and understanding The student – through course attendance and practical activities – will gain full knowledge of the general principles of international economics, with specific reference to the theory of international trade. A special focus will be given to the environmental consequences of globalization and the role of international agreements, with an emphasis on the issue of sustainable development and climate change. - Applying knowledge and understanding Student will be able to understand the theory of international economics and policies, to interpret the principles and challenges behind the design of international economic policies and to apply their knowledge to solve simple models of international trade. They will be able to evaluate the consequences of protectionism, tariffs and trade agreements and to critically evaluate statements on international trade issues in the media. Further, students will be able to read and understand scientific papers on sustainable development and environmental problems, to comment governments’ environmental and climatic policy choices, and to consult policy reports. - Making judgments Theoretical and applied knowledge of relevant issues of international trade, climatic challenges and policies learned in the classes will allow students to analyze international economics models and problems, and to understand the main critical issues behind environmental problems. They will be used to critically evaluate, in a constructive and unbiased manner, the source of environmental problems related to globalization and the appropriateness of the solutions proposed by national and international policy-makers. Students will gain the ability to evaluate data and publications related to international economics and environmental problems independently and to make critical judgements on specific policy choices. - Communication skills By the end of the course, students will be able to communicate with clarity and methodological consistency the different challenges represented by international trade, the related environmental impacts and the role of international agreements. Interactions, debates and team work will allow students to learn abilities to communicate effectively and with the specific technical language in various contexts. - Learning skills This course will contribute to empower students giving them the specific methodological and analytical tools to determine benefit and challenges of international policies and the impact of current events on global economics. Models and methodologies learned during the course will enable students to elaborate insights and conduct autonomous analysis and research by reading scientific papers and reports by international institutions.

The course is divided into two sections. In the first part of the course, the main concepts, models and theories of international trade and policies will be examined. The second part of the course will be devoted to the analysis of the environmental consequences of the globalization process, focusing on sustainable development goals, the interrelationship between the economy and the environment, with a specific focus on pollution and climatic challenges.

- Krugman, P., Obstfeld, M., & Melitz, M. (2018). International Economics Theory and Policy 10e. Pearson. https://tinyurl.com/yf3d9j6b - Perman, R., Ma, Y., McGilvray, J., & Common, M. (2011). Natural resource and environmental economics 4e. Pearson. https://tinyurl.com/ye7m79e3 Other materials, the slides of the lectures, relevant reports and journal articles will be provided on the website during the course.

On campus and on line lectures; Lectures by external experts; Analysis of case studies with the direct involvement of students; Group works and presentations.

The assessment of students will take place in three different steps: 1. A mid-term exam half-way through the course (multiple-choice questions + 1 essay type question) on the first part of the lectures (30% on the final grade); 2. A final exam at the end of the course (multiple-choice questions + 1 essay type question) on the second part of the lectures (30% on the final grade); 3. during the course, through presentations and discussion (40% on the final grade). Students will be divided in groups: in each session, one group will present a specific topic and another group will discuss the presentation of the first group. Presentations will be assessed according to the structure (organization of arguments); the accuracy (focus of the arguments); the coverage (use of relevant materials and illustrative examples); the clarity of arguments (internal coherence, new ideas); the rigor in presenting the arguments. Based on these criteria, student will get a score ranging from 17 to 31: insufficient (17); sufficient (18-20); good (21-23); very good (24-26); excellent (27-29); outstanding (30-31). Discussions will be assessed on the basis of the same criteria.

- Active attendance at the course and interest shown for the topics; - Quality and originality of the proposed issue for the thesis.

The second half of the course is entirely dedicated to the issue of environmental sustainability.