Programmes

The International Financial System in a Post Crisis World: New Risks and Challenges for Asia and Beyond

  • Summer schools
  • Academic Partnerships Office
  • Application code LPS-EC210
  • Starting 2019
  • UK/EU full-time: Open
  • Overseas full-time: Open
  • Location: Beijing

Video Play EC210

Video: Professor Jeffrey Chwieroth discusses his LSE-PKU Summer School course.

This course provides a rigorous analysis of the most critical political, economic, and strategic risks and challenges facing the international financial system after the crisis. It explores how and why these risks and challenges will reshape societies and impact the climate for policymakers and the business community for years to come. It will investigate these risks and challenges at the global, regional, and national level, with specific reference to the experience of many Asian economies.

The world economy has emerged from the most serious crisis it faced since the 1930s, but now faces new risks and challenges that bring into sharp focus the tensions present in the international financial system. Advanced economies struggle to ignite growth and productivity while confronting populist political pressures to roll back globalization. China seeks to manage its on-going credit boom and potential financial fragility, while rebalancing its economy and promoting internationalization of the Yuan. Elsewhere emerging market and developing economies in Asia and beyond face weaknesses in their national economies as well as global shocks associated with volatile capital flows and commodity prices as well as persistent weak global demand and a possible turn away from openness in the West. This course will enable students to achieve a deeper understanding of these issues and develop new tools to analyse and conceputalize the risks and challenges facing the international financial system today. 

ec210 tianhao liu 2019

Photo: "I pursued my undergraduate and master degree in the US, and as a Chinese citizen I need a deeper understanding of China in order to work in its special system. Professor Jeffrey Chwieroth’s class is truly astonishing. The program gave us a broader and deeper view of the Chinese monetary system in a global perspective both economically and politically. During the summer school, the interactions between professors, TAs, and students enabled not only networking, but also the opportunity to acquire valuable insight from both teachers and colleagues. This spectrum of knowledge and insight enabled me to rethink our global financial system, and establish a life-long career goal of a global systematic monetary reform. I would truly recommend the course if you are interested in the global/Chinese monetary system." Tianhao Liu, Rutgers University, USA

Click here to see the full course outline

Programme details

Instructor

Jeffrey Chwieroth

Jeffrey Chwieroth is Professor of International Political Economy in the Department of International Relations, and a Research Associate of the Systemic Risk Centre at the London School of Economics and Political Science. He is the author of Capital Ideas: The IMF and the Rise of Financial Liberalization (Princeton University Press, 2010). He has published numerous articles and book chapters on the political economy of international money and finance. His research has been supported by grants from the Australian Research Council, the AXA Research Fund, the British Academy for the Humanities and Social Sciences, and the Economic and Social Research Council. He has held academic positions previously in the Department of Political Science of the Maxwell School of Citizenship and Public Affairs at Syracuse University, and the Robert Schuman Centre for Advanced Studies at the European University Institute.

Student feedback

"The course was amazing! It was such a life-changing experience attending the classes. Professor Chwieroth combined critical, structural, and historical analysis and provided wonderful lectures. It was great, I would definitely recommend this course! PKU and Beijing were also a great part of that amazing experience. The diversity of nationalities and backgrounds of my peers was really enriching." Gabriella Guimeres, University of São Paulo, Brazil

Click here to read more of our alumni testimonials.

 

Learning outcomes

Key learning outcomes include achieving a deep understanding of the relevant debates and differing perspectives on the key issues below, as well as developing the analytical skills and building in-depth empirical knowledge to formulate independent and coherent views on these issues. 

• How has the unprecedented monetary and fiscal response since the crisis impacted advanced economies, China, and emerging market and developing economies in Asia and beyond? 

• Has the crisis response sowed the seeds for another financial bubble? 

• Can China avoid a financial crisis following its ongoing credit boom? 

• How will continued economic weakness and financial fragility in advanced economies affect China and emerging market and developing countries in Asia and beyond? 

• How has China and Asia’s place in the international financial and monetary systems been transformed since the crisis? 

• Why does financial vulnerability persist despite (or because of) new regulatory measures? 

• How can emerging and developing economies in Asia and beyond best respond to the perils and opportunities arising from international financial integration? 

• Are current global macroeconomic imbalances sustainable and what are the implications for Asia and the international monetary system? 

• How has the practice of central banking changed since the crisis?

Prerequisites

There are no prerequisites for this course.

Assessment

Assessment will be based on a mid-term essay (worth 50% of the final mark) and a final exam (worth 50% of the final mark).

Preparatory reading list

The list below provides an indication of some of the main recommended texts for the course, but a full reading list and course pack will be provided to registered students approximately six weeks before the beginning of the programme.

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