PP418      Half Unit
Globalisation and Economic Policy

This information is for the 2021/22 session.

Teacher responsible

Professor Andres Velasco


This course is available on the Double Master of Public Administration (LSE-University of Toronto), MPA Dual Degree (LSE and Columbia), MPA Dual Degree (LSE and Hertie), MPA Dual Degree (LSE and NUS), MPA Dual Degree (LSE and Sciences Po), MPA Dual Degree (LSE and Tokyo), Master of Public Administration and Master of Public Policy. This course is available with permission as an outside option to students on other programmes where regulations permit.


The expectation is that students will have previously taken PP440 and PP455 or other equivalent courses. Students that have not taken PP440 and PP455 will require permission from the course lecturer to attend the course.

Course content

Over the past two centuries, the global economy has become increasingly interconnected.  This course studies the policy implications of this globalization.  It considers the causes and consequences of increasing international economic integration, focusing particularly on the challenges and opportunities that globalization creates for policy makers.  Key areas covered include: international trade, innovation and growth, migration and wages, international capital flows, borrowing and adjustment in the world economy, monetary and exchange rate policy, and financial crises.  The course builds on the knowledge developed in PP440 and PP455.


This course is delivered through a combination of lectures and seminars totalling a minimum of 30 hours across Lent Term.  This year teaching will be delivered through a combination of online lectures with seminars taking place in person where possible and where conditions allow. 

Formative coursework

The formative coursework will comprise two graded problem sets. The formative coursework will take place throughout the term.

Indicative reading

There is no single textbook that includes all the material covered in this course.  Lectures and readings will primarily focus on journal articles.  Three books that will be used during the course are:

Krugman, P.R., Obstfeld, M and Melitz, M.J. International economics: theory and policy 11th edition (Boston: Pearson, 2018)

Rodrik, D., The globalization paradox: why global markets, states and democracy can't coexist (Oxford: Oxford University Press, 2011)

Irwin, D., Free Trade Under Fire (Princeton: Princeton University Press, 2015)


Coursework (50%).
Take-home assessment (50%) in the ST.

The 50% coursework will consist of two graded problem sets worth 25% each.

Course selection videos

Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.

Important information in response to COVID-19

Please note that during 2021/22 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.

Key facts

Department: School of Public Policy

Total students 2020/21: 48

Average class size 2020/21: 12

Controlled access 2020/21: Yes

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Application of information skills
  • Communication
  • Application of numeracy skills
  • Specialist skills