This subject deals with fundamental ideas about how world capitalism emerged and operates. It investigates the global system of trade, investment and finance, including the workings of the International Monetary Fund, the World Bank and the WTO.

The subject traces the replacement of Keynesian economic management by a neo-liberal offensive which has prioritised the operation of the market over government restriction and ownership. Controversies over globalisation and its effects on living standards, the labor movement and democratic rights will be followed. We will consider whether the modern state is powerless in the face of globalisation and whether trade unions and the traditional parties of labour have been irreversibly weakened or changed by it. Of particular importance will be the investigation of the effects of modern globalised capitalism on underdeveloped countries - the "third world". Finally, the subject examines the political economy of the movement of people across national borders - migrants and refugees - its links with globalisation and the political arguments it has generated.

2,500 word essay (50%) and final examination (50%).

Expected - attendance and participation in a two hour lecture followed by a one-hour forum each week

Voluntary - attendance and participation each in a three hour session which may include one of the following -

(i) a background lecture and discussion on matters related to but not essential to the course; (ii) a film relevant to the course followed by discussion; (iii) consultations to discuss essay topics.

Two first-year courses in Political Science or with the permission of the coordinator.

A reading brick will be made available to students.