International Political Economy

Overview

This course introduces the significant linkages between politics and economics in the field of International Relations, setting out the meaning, nature and conceptual foundations of International Political Economy. It examines the structural and functional ties between the global macro-economic order and the systemic contours of world politics, and equips students with both traditional and critical theoretical frameworks—from economic nationalism, liberalism and neo-Marxism to historical sociology, feminism and postcolonialism. On these foundations it maps the major issues of the global political economy: trade, development, finance, economic governance, and emerging challenges from the cyber economy to global civil society.

Learning objectives

Learning outcomes

On completing the course, students will be able to:

• Develop a basic understanding of the structural-functional linkages connecting politics and economics.
• Use the conceptual tools and theoretical frameworks for understanding how the international political economy functions.
• Understand the structural drivers that shape international trade and finance.
• Appreciate the Global South's contribution to the field, in both ideas and practice.
• Grasp how economic life is being transformed by information and communication technology, the cyber economy and the global civil society.

Syllabus & units

Five units moving from foundations and theory to the working institutions of the global economy.

Essential readings

A selection of the prescribed readings from the University of Delhi syllabus, arranged by unit. The full list, including additional readings, is in the official syllabus linked below.

Unit I · Introduction

• Gilpin, R. (2001) 'The Nature of Political Economy', in Global Political Economy: Understanding the International Economic Order. Princeton University Press, pp. 25–45.  JSTOR ↗
• Balaam, D. N. & Dillman, B. (2014) 'What Is International Political Economy?', in Introduction to International Political Economy, 6th ed. Boston: Pearson, pp. 2–24.  Internet Archive ↗

Unit II.a · Economic Nationalism, Liberalism & Structuralism

• Balaam & Dillman (2014) 'The Economic Liberal, Mercantilist and Structuralist Perspectives', in Introduction to IPE, 6th ed. Pearson, pp. 25–100.  Internet Archive ↗
• Gilpin, R. (1987) 'Three Ideologies of Political Economy', in The Political Economy of International Relations. Princeton University Press, pp. 25–64.  Princeton U. Press ↗
• Martinussen, J. (1997) 'Neo-Marxist Theories of Underdevelopment and Dependency', in Society, State and Market. London: Zed Books, pp. 85–100.  Google Books ↗

Unit II.b · Historical Sociology, Feminism & Postcolonialism

• Hobson, J. M. (1997) 'A sociology of international relations…', in The Wealth of States. Cambridge University Press, pp. 1–22.  Google Books ↗
• Griffin, P. (2017) 'Gender and the Global Political Economy', Oxford Research Encyclopedia of International Studies.  View online — Oxford Research Encyclopedia ↗
• Bhambra, G. K. (2020) 'Colonial global economy: towards a theoretical reorientation of political economy', Review of International Political Economy, 28(2).  Read online (open access) ↗

Unit III · International Trade and Development

• O'Brien, R. & Williams, M. (2016) 'International Trade', in Global Political Economy: Evolution and Dynamics, 5th ed. London: Palgrave, pp. 102–124.  Google Books ↗
• Krasner, S. D. (2003) 'State Power and the Structure of International Trade', in Frieden & Lake (eds.), International Political Economy. Routledge.  Original article — JSTOR ↗

Examination scheme

Assessment follows the University of Delhi scheme for a four-credit course: continuous internal assessment together with an end-semester written examination.

Note: weightings reflect the standard UGCF four-credit pattern (3 lectures + 1 tutorial). The exact internal-assessment breakdown is announced by the department at the start of the semester.

Course guidelines

• Attendance of at least 66% of lectures and tutorials, in line with University of Delhi requirements.
• Tutorials build on the lectures with discussion of theory and current cases; come prepared with the reading.
• Follow contemporary economic developments—trade, finance and technology—to connect theory to events.
• Cite all sources, including data and reports. Plagiarism is treated seriously under University norms.
• Internal assessment is continuous; keep pace with reading and submission deadlines.
• Office-hour consultation is encouraged for essays, references and difficult frameworks.

Official resources