SECURITY AND ECONOMY
Obiettivi formativi
The course aims to provide students with an advanced understanding of the interactions between economic systems and security dynamics in the contemporary international context. In particular, it seeks to:
Analyze the role of economic tools as instruments of geopolitical power
Examine key policy instruments (trade, investment, industrial policy, competition, technology governance) from a security perspective
Explore the different models of economic security adopted by the European Union, the United States, and China
Understand the impact of technological transformations and global crises on economic and strategic balances
Equip students with analytical tools to assess public policies in complex and interdependent environments
Risultati di apprendimento attesi
By the end of the course, students will be able to:
Understand and define the concept of economic security and its evolution
Critically analyze the interaction between markets, states, and geopolitical dynamics
Evaluate the effectiveness and implications of economic policy tools from a security perspective
Compare regulatory and strategic approaches across the EU, the US, and China
Assess the role of emerging technologies in global competition
Apply theoretical frameworks to real-world policy cases and international scenarios
Contenuti Del Corso
This course explores the deep interconnections between economic systems and security dynamics in the contemporary global order. It examines how states use economic tools - trade, investment, industrial policy, antitrust, technology governance - as instruments of power and security. The course adopts an interdisciplinary approach combining international political economy, law, and strategic studies, with a strong focus on EU policy frameworks, comparative perspectives (US, China), and current geopolitical developments.
Testi Di Riferimento
Blackwill, R. D., & Harris, J. M. (2016). War by Other Means: Geoeconomics and Statecraft. Cambridge, MA: Harvard University Press. (Selected sections will be indicated during the course.)
Farrell, H., & Newman, A. L. (2019). “Weaponized Interdependence: How Global Economic Networks Shape State Coercion.” International Security, 44(1), 42–79.
Metodologie Didattiche
Blended: frontal and participative method through project works.
- Class participation is crucial for a successful preparation. The course on European Industrial Policy mainly relies on EU policy papers, international press articles, comments and reports that Professors will provide in advance and that students will be required to read and comment during the lecture.
- Simulations: during the course the dynamics of policy decision making will be simulated.
- Case studies will be investigated with the support of external experts.
Modalità di verifica dell'apprendimento
Attending students are assessed through a system of continuous assessment, which accounts for one-third (1/3) of the final grade. Continuous assessment includes various activities carried out during the semester - such as practical exercises, group work, presentations, individual tests, or short written assignments - aimed at monitoring progressive learning and the development of analytical skills.
At the end of the course, attending students take an individual final exam, accounting for two-thirds (2/3) of the overall grade. The final exam is designed to assess knowledge of course content, critical thinking, and the proper use of theoretical and analytical tools. It may consist of a written and/or oral examination.
The combination of continuous assessment and final exam applies only to the examination sessions immediately following the course. In subsequent sessions (retake sessions), students are assessed through a single final exam (100%), and continuous assessment results are no longer considered.
Continuous assessment is mandatory for attending students, and the corresponding grades cannot be refused.
Students who are exempted from attendance or are non-attending are assessed exclusively through a final exam (100%), based on an appropriate study load compensating for missed coursework during the semester.
Final grades cannot be refused.
Criteri per l’assegnazione dell’elaborato finale
Evaluation criteria include:
Interest and engagement demonstrated throughout the course
Relevance and originality of the topic
Clarity of structure and coherence of the argument
Ability to integrate theoretical frameworks and empirical analysis
Quality of sources (academic and institutional)
Settimana 1
Part I – Foundations: Security and Economic Systems
The New Geopolitical Economy
Global fragmentation after the Cold War (US, China, EU, Russia, Middle East)
From globalization to de-risking
COVID-19 and Ukraine war
Theories of Economic Power
Liberalism vs protectionism
Market economy vs state capitalism
Economic statecraft
Interdependence and vulnerability
Settimana 2
Part II – Economic Security: Concepts and Instruments
Economic Security in the “Age of Insecurity”
Definitions (EU, OECD)
Geoeconomics and open strategic autonomy
Resilience and supply chains
Trade as a Security Tool
Export controls: Cold War and U.S.-China competition
Sanctions and extraterritoriality
WTO crisis
Settimana 3
Case Study/Simulation
Settimana 4
Investment Screening and Economic Sovereignty
FDI screening
Golden power
Foreign subsidies
Outbound investment
Settimana 5
Part III – Industrial Policy and Strategic Sectors
The Return of Industrial Policy
EU industrial strategy
Strategic sectors
Strategic Technologies
Semiconductors
AI and supercomputing
Technological sovereignty
Settimana 6
Defence, Space and Dual-Use Ecosystems
Civil-military integration
Space economy
Defence industrial base
Settimana 7
Part IV – Finance, Competition, and the New Order
Banking and Finance: From Intermediaries to Security Tools
Weaponization of finance
AML/CFT, SWIFT, sanctions enforcement
Financial stability as national security
CBDCs and monetary sovereignty
Settimana 8
Competition, State Aid, and European Champions
From fair to strategic competition
Relaxation of State Aid
IPCEIs and industrial ecosystems
IP pooling and standard-setting
Settimana 9
Part V – Regional Models of Economic Security
The European Union
Economic Security Strategy
Trade defence tools (CBAM, FSR, ACI)
Strategic dependencies
Settimana 10
The United States
National security and economic policy
The rise of sanctions in the XXI century after 9/11
CHIPS Act, IRA: new industrial policy
Extraterritoriality and the role of the dollar
Protectionism and the new US State capitalism
Settimana 11
China
Chinese reforms and the lessons of the Asian Tigers
State capitalism and market forces: SASAC and public-private ecosystems
Made in China 2025 and a new search for self-sufficiency
Dual circulation and new tools (antitrust, export controls)
The “New Advantage of Backwardness”: how China thinks
Settimana 12
Part VII – Crisis, Governance and Future Scenarios
Lecture 16 – Crisis and the Future of the Global Economic Order
Knowledge as security: supply chain review
Financial crises and systemic risk
Energy security and critical materials
Fragmentation vs cooperation
Climate and industrial policy trade-offs