Dr R Sally, D416

Course intended primarily for MSc International Political Economy. It is an optional course for students on MSc Comparative Politics, MSc Political Science and Political Economy, MPA Public and Economic Policy/MPA Public Policy and Management/MPA International Development/MPA European Public and Economic Policy and LSE-PKU Double Degree in MSc International Affairs. Also available to students taking MSc International Relations or MSc International Political Economy as part of the LSE-Sciences Po Double Degree in Affairés Internationales programme.

An examination of the major economic and political issues and controversies in international trade.

The evolution of trade policy in theory and practice. The course deals with the underlying economic theories of free trade and protection, and the political assumptions upon which they are based. It then considers the post-war evolution of the international trading system from the founding of the GATT through "middle-age" protectionism, the Uruguay Round, and the discussions in the Doha Development Agenda. It also looks at the key actors in international trade policy (US, EU, Japan, developing and transition countries, MNEs, NGOs), the WTO as an international organisation and regional and bilateral trade agreements.

A series of 20 lectures (IR457), and 19 seminars (IR457) based on student presentations. Lectures begin in week one of the MT and seminars begin in the third week of the MT. Ten lectures on Introduction to Some Concepts in Economics will also be given as part of IR450.1, explaining the law of comparative costs, purchasing power parity, the quantity theory of money, the balance of payments and other concepts currently used in the literature. These lectures, starting in week one of the MT, are primarily intended for those with little or no background in international economics; also recommended for MSc IPE students without any background in economics. Three 2,000-word essays will be set and marked by the seminar teacher.

Paul Krugman & Maurice Obstfeldt, International Economics; Paul Krugman, Pop Internationalism; Douglas Irwin, Against the Tide: An Intellectual History of Free Trade; Jagdish Bhagwati, Protectionism and Writings on International Economics; B Hoekman & M Kostecki, The Political Economy of the World Trading System; Jacob Viner, International Economics and Studies in the Theory of International Trade; John Jackson, The World Trading System; Jagdish Bhagwati & Robert Hudec (Eds), Fair Trade and Harmonisation: Prerequisites for Free Trade?; Razeen Sally, Trade Policy, New Century: WTO, FTAs and Asia Rising (London, Institute of Economic Affairs, 2008).

A detailed reading list will be distributed at the beginning of the session.

ST formal three-hour examination, three questions to be chosen from 12.