教學大綱 Syllabus

每周課程進度與作業要求 Course Schedule & Requirements

教學週次Course Week	彈性補充教學週次Flexible Supplemental Instruction Week	彈性補充教學類別Flexible Supplemental Instruction Type
16+2週16+2 weeks	第 17 週 Week 17	完成指定課後作業或作品Completion of designated after-course assignment or work
	第 18 週 Week 18	完成指定課後作業或作品Completion of designated after-course assignment or work

Week 1  Introduction to the Course

 

Week 2 Core Issues and Theoretical Perspectives: The Unholy Trinity of the International Monetary and Financial System; and Related Paradigms, Schools, and Approaches/The Making of the Modern International Monetary and Financial System

• Cohen, Benjamin. 2017. “The IPE of Money Revisited.” Review of International Political Economy 24 (4): 657–80.

• Maurice Obstfeld. 1998. “The Global Capital Market: Benefactor or Menace?” Journal of Economic Perspectives 12 (4): Read only pages 9-21.

• David Lake (2009), “Open Economy Politics: A Critical Review,” Review of International Organizations 4:3, 219-244.
• Robert Gilpin, 2001 Global Political Economy . [This is an updated version of Gilpin, The Political Economy of International Relations, 1987.] Ch. 1-2
• Hobson, J., & Seabrooke, L. (Eds.). (2007). Everyday Politics of the World Economy. Cambridge: Cambridge University Press. Ch.1 (Introduction) doi:10.1017/CBO9780511491375

 

• Farrell, Henry and Abraham Newman. 2019. ‘Weaponized Interdependence: How Global Economic Networks Shape Global Coercion.’ International Security. 44: 1. Summer. Pp. 42-79
• Stephen E. Gent and Mark J.C. Crescenzi. 2021. Market Power Politics: War, Institutions, and Strategic Delay in World Politics. Oxford University Press

 

• Barry Eichengreen, Globalizing Capital, 2nd ed (2008), ch. 2.(Recommended but not required)
• Benjamin J. Cohen, “The Coming Global Monetary (Dis)Order,” in Global Governance at Risk, ed. David Held and Charles Roger (2013), 31-50. (Recommended but not required)

 

Week 3  The Creation of the Modern International Monetary and Financial System: (1) From the Gold Standard to the Great Depression (1929-1939) and World War II; (2) The Establishment and Breakdown of the Bretton Woods System and the Globalisation of Finance (as well as its Risk).

• Karl Polanyi. 1944/1957/2001. Great Transformation. (Embeddedness)
• Charles Kindleberger, The world in depression 1929-1939 (Berkeley: University of California Press, 1973), ch.1, 14
• Minsky. Financial Instability Hypothesis.
• Stephan Haggard. 2000. The Political Economy of the Asian Financial Crisis. Washington: Institute for International Economics. Intro & Chapter 1.
• Adam Tooze. Crashed: How a decade of financial crises changed the world. New York: Viking, 2018: Intro+ch.1.
• Helleiner, Eric. 2011. “Understanding the 2007-2008 Global Financial Crisis: Lessons for Scholars of International Political Economy.” Annual Review of Political Science 14: 67– 87. (20 pp.)

• David Leblang. 2002. “The Political Economy of Speculative Attacks in the Developing World.” International Studies Quarterly 46 (1): 69-91.
• Jeffry A. Frieden. 1991. Debt, Development and Democracy. Princeton: Princeton University Press. Pages 67-83 & 178-215

Week 4 The Political Process of International Monetary Relations (I): The Politics of Exchange Rate Policies

• Jeffry Frieden (1991), “Invested Interests: The Politics of National Economic Policies in a World of Global Finance,” International Organization 45:4 (Autumn), 425-451.
• Stefanie Walter. Financial crises and the politics of macroeconomic adjustments. Cambridge University Press, 2013: Chapter 1-2.

**Recommended

• J. Bradford Jensen, Dennis P. Quinn and Stephen Weymouth, “The Influence of Firm Global Supply Chains and Foreign Currency Undervaluations on US Trade Disputes,” International Organization, 69(2015), pp 913-947
• Eric Helleiner and Anton Malkin, “Sectoral Interests and Global Money: Renminbi, Dollars and the Domestic Foundations of International Currency Policy,” Open Economies Review 23 (2012), pages 33-55

 

• David Andrews (1994), “Capital Mobility and State Autonomy: Toward a Structural Theory of International Monetary Relations,” International Studies Quarterly 38:2 (June), 193-218(Recommended but not required!)

• Can be compared with the piece by Frieden, 1991 

• J. Lawrence Broz and Seth H. Werfel, “Exchange Rates and Industry Demands for Trade Protection,” International Organization, 68 (2014), pp 393-416 (Recommended but not required!)

• Can be compared with the piece by J. Bradford Jensen, Dennis P. Quinn and Stephen Weymouth, 2015 

 

Week 5 The Political Process of International Monetary Relations (II): Central Bank and the Politics of Inflation     

• David H. Bearce (2003), “Societal Preferences, Partisan Agents, and Monetary Policy Outcomes,” International Organization 57:2 (Spring), 373-410.
• Adolph, Christopher. 2013. Bankers, Bureaucrats, and Central Bank Politics: The Myth of Neutrality(New York, NY: Cambridge University Press), pp.1-43(ch.1 & the first part of ch.2. *The rest of ch.2 is recommended but not required )

 

**Recommended

 

• David Steinberg (2015), Demanding Devaluation (Cornell University Press, 2015), introduction and ch. 1.

 

Week 6 The Political Process of International Monetary Relations: International Monetary governance

• Helleiner, E. (2014). The status quo crisis: Global financial governance after the 2008 financial meltdown. (New York : Oxford University Press, 2014), ch.1,6
• Lipscy, Phillip Y. and Lee, Haillie Na-Kyung 2019. “The IMF As a Biased Global Insurance Mechanism: Asymmetrical Moral Hazard, Reserve Accumulation, and Financial Crises.” International Organization, Vol. 73, Issue. 02, p. 489.
• Stephen Nelson, The Currency of Confidence: How Economic Beliefs Shape the IMF’s Relationship with its Borrowers, (Cornell University Press, 2017), pp. 1-49

• Jonathan Kirshner. 2014. American Power after the Financial Crisis. Cornell Studies in Money Series. Ithaca: Cornell University Press, 2014. Ch1&Ch8(Ch7 on China’s impact is recommended but not required)

 

Week 7 The Political Process of International Monetary Relations (IV): Monetary Regionalism

• C. Randall Henning, ‘Systemic conflict and regional monetary integration: the case of Europe’, International Organization 52, 3, 1998, pp. 537-573.
• Joseph E. Stiglitz, The Euro: How a Common Currency Threatens the Future of Europe (2016), ch. 1.

 

**Recommended

• Philip R. Lane. 2012. “The European Sovereign Debt Crisis” Journal of Economic Perspectives 26 (3): 49-68.

• Benjamin J. Cohen, The Future of Money (Princeton University Press, 2004), Ch.6.
• Robert A. Mundell. “A Theory of Optimum Currency Areas” The American Economic Review, Vol. 51, No. 4. (Sep., 1961), pp. 657-665.

 

Week 8 The Political Process of International Monetary Relations (V)：International Monetary Power 

• Cohen, B. J. (2015). Currency power: understanding monetary rivalry. Princeton: Princeton University Press. Ch. 1 & 3;
• Kirshner, Jonathan. 2008. “Dollar Primacy and American Power: What’s at Stake?” Review of International Political Economy 15 (3): 418–38.  

• Hyoung-Kyu Chey (2012), “Theories of International Currencies and the Future of the World Monetary Order,” International Studies Review 14:1 (March), 51-77.
• HELLEINER, E. (2008): Political Determinants of International Currencies: What Future for the US Dollar? Review of International Political Economy 15(3), 354-378

 

Week 9  The Political Process of International Monetary Relations (VI)：International Monetary Statecraft       

• Benjamin J. Cohen, Currency Statecraft (Chicago University Press, 2019)t, ch. 1-3.
• Barry Eichengreen & Arnaud Mehl & Livia Chiţu & Thorsten Beck, 2019. "Mars or Mercury? The geopolitics of international currency choice*," Economic Policy, vol 34(98), pages 315-363.

• David Baldwin. 1985. Economic Statecraft. Ch1

 

**Recommended

 

• Darren J. Lim  &Victor A. Ferguson. 2021. Informal economic sanctions: the political economy of Chinese coercion during the THAAD dispute. Review of International Political Economy Pages 1525-1548 | Published online: 26 May 2021
• Christopher A. McNally & Julian Gruin. 2017. “A novel pathway to power? Contestation and adaptation in China's internationalization of the RMB, Review of International Political Economy, 24:4, 599-628

• Kirshner, Jonathan. 2008. “Dollar Primacy and American Power: What’s at Stake?” Review of International Political Economy 15 (3): 418–38.  

• Hyoung-Kyu Chey (2012), “Theories of International Currencies and the Future of the World Monetary Order,” International Studies Review 14:1 (March), 51-77.
• HELLEINER, E. (2008): Political Determinants of International Currencies: What Future for the US Dollar? Review of International Political Economy 15(3), 354-378

**** Students submitted the Research topic and 3-page draft for final project.

 

Week 10 The Political Process in the International Financial System (I): Capital Liberalisation and Re-regulation

• Helleiner, Eric. 1994. “Freeing Money: Why Have States Been More Willing to Liberalize Capital Controls than Trade Barriers?” Policy Sciences 27(4): 299–318.
• Quinn, Dennis P. and A. Maria Toyoda. 2007. “Ideology and Voter Preferences as Determinants of Financial Globalization.” American Journal of Political Science 51(2): 344–363.
• David A. Steinberg, Stephen C. Nelson & Christoph Nguyen (2018) Does democracy promote capital account liberalization?, Review of International Political Economy, 25:6, 854-883, DOI: 10.1080/09692290.2018.1486725

 

**Recommended

 

• Michael Tomz (2012). “International Finance.” In Handbook of International Relations, 2nd ed., eds. Walter Carlsnaes, Thomas Risse, and Beth Simmmons, Ch.pp. 692–719. New York: Sage, 2012.

• Milner, Helen V. and Mukherjee, Bumba, 2009. “Democratization and Economic Globalization” (June 2009). Annual Review of Political Science, Vol. 12, pp. 163-181, 2009.

 

Week 11 Political Processes in the International Financial System (II): Financial Crisis, Sovereign Debt Crisis, and International Governance.

• Lipscy, Phillip Y. 2018. “Democracy and Financial Crisis.” International Organization 72 (04): 937–68. (31 pp.)
• Stephen C. Nelson and Peter J. Katzenstein (2014), “Uncertainty, Risk, and the Financial Crisis of 2008,” International Organization 68:2 (Spring), 361-392.
• Peter J Katzenstein, Lucia A Seybert, Protean Power and Uncertainty: Exploring the Unexpected in World Politics, International Studies Quarterly, Volume 62, Issue 1, March 2018, Pages 80–93, https://doi.org/10.1093/isq/sqx092

 

**Recommended

 

• Danzman, Sarah Bauerle, W. Kindred Winecoff, and Thomas Oatley. 2017. “All Crises Are Global: Capital Cycles in an Imbalanced International Political Economy.” International Studies Quarterly 61(4): 907-23. (29 pp.)

 

 

Week 12  Governance of the International Financial System (III): (1) Non-State Actors in Financial Markets; (2) The Challenge of Economic Inequality. (Crypto-currency)

• SINCLAIR, T. J. (2001): The Infrastructure of Global Governance: Quasi-Regulatory Mechanisms and the New Global Finance. Global Governance 7, 441-451.

• Rajan, Raghuram. 2010. Fault lines: how hidden fractures still threaten the world economy. Princeton, N.J.: Princeton University Press. Intro & Ch.1
• Kumhof et al.(Kumhof, Michael., Claire Lebarz, Romain Rancière, Alexander W. Richter, and Nathaniel A. Throckmorton). 2012. “Income Inequality and Current Account Imbalances.” (January 2012). IMF Working Paper No. 12/8. Available at SSRN: http://ssrn.com/abstract=2613291

 

**Recommended

• Azzimonti, Marina, Eva de Francisco, and Vincenzo Quadrini. 2014. “Financial Globalization, Inequality, and the Rising Public Debt.” American Economic Review, 104(8): 2267-2302.
• Paudyn, Bartholomew (2014) Credit ratings and sovereign debt: the political economy of creditworthiness through risk and uncertainty.( International Political Economy Series . Palgrave Macmillan UK, Basingstoke,) ch.1
• Rodney Bruce Hall and Thomas J. Biersteker, eds. (2002), The Emergence of Private Authority in Global Governance. Introduction and ch. 1.
• Hyoung-kyu Chey. 2022. Cryptocurrencies and the IPE of money: an agenda for research. Review of International Political Economy. https://doi.org/10.1080/09692290.2022.2109188.
• Fed’s CBDC paper. 2021

 

****Recommended

• Guillaume Beaumier &Kevin Kalomeni. 2021. Ruling through technology: politicizing blockchain services. Review of International Political Economy

 

• Cryptocurrency: The Economics of Money and Selected Policy Issues (US Congressional research. Just for a brief understanding. Only 6 pages )
• International Journal of Political Economy special issue on Cryptocurrency:
  • Cryptocurrencies: Will Machines Replace Your Banker?(required)
  • Monetary Reform, Central Banks, and Digital Currencies(required)
  • Cryptocurrencies and Blockchain: Opportunities and Limits of a New Monetary Regime(not required)
  • Cryptocurrencies and the Denationalization of Money(not required)
  • Cryptocurrencies Monetary Policy and New Forms of Monetary Sovereignty(not required)

**** Students submit the research draft including a complete version of literature review and the proposed methods.  

 

Week 13  National Security Implication of International Monetary and Financial Relations (I)War Finance

• Kreps, Sarah. 2018. Taxing Wars: The American Way of War Finance and the Decline of Democracy. Oxford University Press. Ch.1-2
• Zielinski, Rosella Cappella. 2016. How States Pay For War? Ithaca: Cornell University Press. Introduction and ch.1
• Queralt, D. (2019). War, International Finance, and Fiscal Capacity in the Long Run. International Organization, 73(4), 713-753. doi:10.1017/S0020818319000250
• Saylor, R., & Wheeler, N. (2017). Paying for War and Building States: The Coalitional Politics of Debt Servicing and Tax Institutions. World Politics, 69(2), 366-408. doi:10.1017/S0043887116000319

• Kirshner, J. 2007. Appeasing Bankers: Financial Caution on the Road to War. Princeton University Press. Ch1

• Shea, Patrick E. 2013. “Financing Victory: Sovereign Credit, Democracy, and War” Journal of Conflict Resolution . 58 no. 5 771-795

 

Week 14  National Security Implication of International Monetary and Financial Relations (II)War, Peace, and International Power Transition 

• Schultz, Kenneth and Barry Weingast. 2003. “The Democratic Advantage: The Institutional Sources of State Power in International Competition” International Organization 57 (winter): 3-42.
• Slantchev, Branislav L. 2012 “Borrowed Power: Debt Finance and the Resort to Arms” American Political Science Review 106(4): 787-809

• Gartzke, Erik., and Quan Li. 2003. “War, Peace, and the Invisible Hand.” International Studies Quarterly 47(4): 561-586.(Also Gartke's Capitalist Peace)

Week 15  National Security Implication of International Monetary and Financial Relations (III)What Russo-Ukraine War, the Israel-Hamas conflict, and US-China Technology Rivalry tell us? 

• Blankenship, B. (2024). Managing the Dilemmas of Alliance Burden Sharing. The Washington Quarterly, 47(1), 41-61.

• Paying the Defense Bill: Financing American and Chinese Geostrategic Competition

  RC Zielinski, S Gerstle - Texas National Security Review, 2023(Spring)

• Bocquillon, P., Doyle, S., S. James, T., Mason, R., Park, S., & Rosina, M. (2024). The effects of wars: lessons from the war in Ukraine. Policy Studies, 45(3–4), 261–281. https://doi.org/10.1080/01442872.2024.2334458

 

Week 16 Research Project Presentation and Course Concluding Remarks

Week 17-18       Finalize the research paper and submit to instructor