Economic Globalization: Successes and Pitfalls

For nearly half a century, the process of economic globalization has profoundly changed national economies and international relations. The financial crisis initiated in 2008 amplified the criticism of global finance, which is inextricably linked to the process of increasing global trade interdependencies. Recent political developments in several parts of the world suggest a trend towards more protectionism and interventionism, while the welfare state model is being challenged in industrialized countries and inequalities are increasing. International institutions and regional agreements aimed at making the world economy more liberal are in crisis (WTO, EU)

On the other hand, globalization has enabled many regions of the world to emerge from underdevelopment, as well as boost world production and lower prices. Multinational firms have been the driving force behind these transformations, favoring the international division of productive processes and the spread of technologies and know-how. But their tendency to escape taxation through tax evasion as well as their quest for profit which have led to restructuring and relocation have placed them in the firing line.

Our course focuses on all these aspects of economic and financial globalization: the role of multinational firms, regional agreements, international institutions, global trade, foreign direct investment, financial markets - for a better understanding of contemporary political and economic issues.

Sciences Po Grenoble - UGA awards credits based on the ECTS system. Contact hours listed under a course description may vary due to the combination of lecture-based and independent work required for each course. CEA CAPA's recommended credits are based on the ECTS credits assigned by Sciences Po Grenoble - UGA (2 ECTS credits equals 1 U.S. credit therefore, 5 ECTS credits is equivalent to 2.5 U.S. credits).