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Global Economic Governance SoSe 2019

 

Lecture  Thursday 10am-12pm (c.t.), Room 3042
Tutorial  Tuesday 2pm-4pm (c.t.), Room 2121
Additional Tutorial  Wednesday 8am-10am (c.t.), HS 1108 (starting on 15th of May)
Audience  Master
Credit points  4 or 6
Language  English

 

Course description:

Closed economies can be governed within the national institutional framework. This is no longer the case in a globalized world with strong transnational linkages, e.g., through trade or factor mobility. Under these circumstances, there is a need to establish international rules that guarantee smooth operation of the global economy. Since there is no global government, issues such as the enforcement of property rights in the international arena, the provision of global public goods or the internalization of cross-border externalities are difficult to resolve. Setting up a global economic order is therefore a major challenge because it requires not only the coordination of several independent actors (i.e., countries), but the establishment of a coordination mechanism as a first step. Hence, in the course self-enforcing mechanisms and institutions of global governance will be discussed and formal economic analysis is applied to the genesis and functioning of one of the most important institutions of global economic governance, the World Trade Organization (WTO).


Literature:

  • Main reference: K. Bagwell, R.W. Staiger (2002): The Economics of the World Trading System, The MIT Press, Cambridge/MA and London/UK.
  • Selected readings which will be provided before and during the class.

 

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