Globalisation and the World Economy

This subject uses economic theory to analyse globalisation in the world economy. First, it introduces fundamental theories of trade in international economics, and shows how economists see the process of globalisation. It then uses those theories to analyse major events and trends in the politics and history of the world economy’s evolution, including the industrial revolution, the Bretton Woods era, the rise and fall of Stalinist economies, and crises including the Asian currency crisis and the Global Financial Crisis. Finally, it focuses on political economy and contemporary issues in globalisation, including poverty and inequality, the environment, security, and the role of institutions.