The course analyzes the nexus among the causes and the effects of the ongoing globalization process from the point of view of international economics, highlighting the main challenges and opportunities faced by workers, firms and governments. Its aim is providing a broad perspective interconnecting historical processes with contemporary questions on the future of the world economy. Specifically, the course addresses the following questions. What are the historical roots of globalization? How do we explain global imbalances and the underlying financial flows? What are the gains from trade and why do countries trade among themselves? Why is protectionism a cost and why we have multilateral trading regulations? Who benefits and who loses out from globalization? Lectures will develop and liaise several methodological approaches and levels of analysis: present day events; economic theory; empirical investigations. Students will also learn some key methodological tools like the balance of payment and the welfare analysis of trade policy.
The economics of globalization I
The first module analyzes the process of globalization from an historical perspective, focusing then on financial globalization and economic imbalances.